REGISTERED COMPANY NUMBER.. 06570781 IEngland and Wales} REGISTERED CHARITY NUMBER.. 1124605 The Hampstèad Villag8 Shul Report of the Trustees and Unauditod Financial Statements for tho Yèar End•d 31 August 2024 Cooper Parry Advisory Lirniled New Derwenl House 69-73 Theobalds Road London WC1X8TA
The Hampstead Village Shul Content5 of the Financlal Statoments for the year ended 31 August 2024 Page Rèport of the Trustoes Independgnt Examingrfs Roport Statement of Flnanclal Actlv5tles Balance Sheet Cash Flow Statsment Notes to the Flnanclal Stat•m8nty 8 to 12
The Hamp$tead Villago Shul Report of the Trustees for tho year ended 31 August 2024 The truslegs present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Ch8rities-. Sl8temenl of Recommended Practice applicable lo charits'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Objectlves and alms The Shul's objectives are lo advance Jud8lSm through Jewish education and the provision and maintenance of a community centre and synagogue for the purpose of worship, conducting services. meetings and educational facilities. The synagogue and community eenlre is provided for spiritual and religious needs and advancing religious educational and charitable activities carried out in accordance with the principles of traditional orthodox Jewish laws and practices. This is done in conjunction with other purposes that are recognised by English law as charitable and the Shul acts in association with other bodies having similar objects. The Trustees have paid due rggard lo guidance issued by the Charity Commission in deciding what activities the Shul should undertake. In this respect the Trustees have particularly considered the Charity Commission's guidance on the public bonefil and fee charging. Signlflcant actlvltles There has been Increas activities throughout the year with rnany talks taking place in the Shul and a multitude of events celebrating the various festivals. There has also been much activity by members and the Shul to support efforts lo bring attention to the Hostages being kept by Harnas since the tragedy of October 2023. Charitable activities The Rabbi, Trustees and the team have devoted their lime on the ¢ore elements of the Shul and in particular the foll¢)wing= Membership.. We are delighted lo be able lo report that membership increased to our highest level of 115 families which represents in excess of 420 people. Services.. Our daily weekday services continue to be staple in our Hampslead Community. providing a consistent source of connection and spiritual nourishment for our members. Our daily classes are very well attended by a diverse audience. and explore a variety of compelling subjects,. from Jewish History to Law, and Mysticism. In a bid to further enrich our educational offerings, we've proudly introduced courses by thg internationally renowned JLI (Jewish Leaming Institute). This has transformed our community centre into a hub for globally recognised educational programs. fostering an environment of continuous leaming and intelledual growth. Charitable Endeavours and Community Commitments.. The community as in years gone by has made donations lo other charities. This year we were able to rais9 from our members some £60,000 which wo donated to other charities and lo individuals in need of money for food particulady for the festival of Pesach. We have embraced a proactive role in community service alongside our commitment to leaming, and have initsated several volunteer programmes for charities supporting divers8 causes $u¢h as the disabled and those in need. Looking ahead. we are excited about the continuous growth of our community engagement efforts and the prospect of introducing new programs that resonate with the evolving needs of our Hampstead Community. Flnancial review Income for the year was £612,29912023.. £537.83318nd expenditure £624,693 {2023.. £515.4001, leaving a surplus of £10,34712023.. £22,4331. We carry forward reserves of £1,706,031 12023.. £1.695,666 1 which are unrestricted funds. The Trustees are satisfied that uncommitted reseTves exceed the minimum according to our reserves policy. Page 1
The Hampstead Villagg Shul Report of the Trustees for the year ended 31 August 2024 Principal risks and uncgrtainties The Trustees acknowledge at all limes the risks associated with the Shul's work as a charitable company. The Trustees ensure that its objectives, philosophy and strategy encompass the idenlificalion and control of risk at all times. They recognise that such risks involve,. volatility in funding and other fin8ncial risks, reputation risk and law and regulation compliance risk. To ensure that any such risk is identified, appropriate control measures are put in place. The Trustees have reviewed the major risks to which the charitable company is exposed and their potential impact. Actions have been tsken or identified lo mitigate them, and they will continue lo be reviewed periodically. We continue lo comply with the GDPR legislation. The Shul lakes its responsibilities very sericusly and we believ8 that we are protecting the personal information of the Shul's members as required by GDPR, Reserves pollcy It Is the policy of the Shul that unrestricted fvnds which have not been designated for a specific use should be maintained al a level equivalent lo beeen three and six months expenditure. The Trustees consider that reserves al this level will ensure that. in the event of a significant drop in funding, they will be able to continue the Shul's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Going concern After making appropriate enquiries, the trustees have a reasonable expectstion that the charitable cornpany ha$ adequate resources lo continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial ststements. The Shul continues lo be sustainable and is also able to build up reserves due to a number of factors. The removal of any interest and capitsl needed to be paid since the extinguishing of its debt to the Vendor of the building. the ineTease in membership and the change in the way membership is being collected from single annual payments to monthly and quarterly direct debits. Heathside School gave notice during the year and for some 6 months no income was received. We have now entered into an arrangement with an organisalion called Werton who together with the Rabbi have opened an OFSTED recognised Nursery School. This is starting lo generate funds and due lo the close connection with our community will in years lo come add significant Value to the aims and objectives of the Shul. Structure, governance and managemont Governing documgnt The charity is controlled by its governing do¢umenl. a deed of trust, and constitutes an incorporated charity. Charity constitutlon The company is registered as a charf(able company limited by guarantee and was set up by a Memorandum of Association on 19 June 2008. Recruitment and appointmgnt of ngw trustees The rnanagement of the company 15 the responsibility of the Trustees who are elected and ¢0p18d under the terms of the Articles of Association. Organisational structure The charity is ultimately governed by the Trustees who agree and monitor the forward plan and approve all of the charity's policies. The day lo day running of the charity is delegated lo staff under the leadership and guidance of the Trustees. Trustees. meetings are held al least Iwiea a year primarily lo review finanoal reports, discuss issues of strategic direction, and programme priorities. Indurtion and training of new trustees M05t trustees are already familiar with the practical work of the charity and familiar with the work of charities in general. New trustees are given briefings to provide personally tailored orientation to brief them as appropriate on their legal obligations under charity and company law. the content of the Momorandum and Articles of Associats'on, the committee and decision making processes, the business plan and recent financial performance of the charity. If needed, trustees would be encouraged lo attend appropriate external training events where these will facilitate the undertaking of their role. Page 2
The Hampstead Villago Shul Report of the Trustees for th8 yoar ondod 31 August 2024 Reference and admlnlstrative dètails Registered Company number 06570781 (England and Wales) Registered Charity number 1124605 Registered office New Derwent House 69-73 Theobalds Road London WC1X8TA Trustees SACash PLCash N Menashg E A Green Company Secretary E A Green Indgpendent Examlner Cooper Parry Advisory Lirniled New Derwenl House 69-73 Theobalds Road London WC1X 8TA This report has been prepar&J in acc small companies. nce with the s ec ions of Part 15 of the Companies Act 2006 relating to Approved by order of t 08rd of trustees and signed on its behalf by.. stee Page 3
Ind9pondent Examiner's Report to the Tru$tegs of The Hampstead Village Shul Independent oxarnlner's report to the trustees of The Hampstead Village Shul I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'i. Having satisfied myself that the accrjjnts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as Carried out under Section 145 of the Charities Act 2011 1 the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independont 8xamingrfs statgmgnt Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. l Can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe- accounb'ng records were not kept in respect of the Company as required by Seetion 386 of the 2006 Act.. or the accounts do not accord with those records., or the accounts do not Comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charitios preparing their accounts in accordance with the Financial Reporting S18nd8rd applicable in the UK and Republi¢ of Ireland IFRS 10211- I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Jonathan Mo ton Cooper Pary Advisory Limited New Derwent House 69-73 Th8obalds Road London WC1X 8TA Dale.. tri_.L MJ Page 4
Thg Hampstead Village Shul Statement of Financial Activities Ilncorporatlng an Income and Expenditurg Accounti for the yèar endad 31 August 2024 2024 Unreslricted fund 2023 Total funds Notes Income and endowments from Donations and legacies 612,299 496,860 Investment income 22,741 40.973 Total 635,040 537.833 Expenditure on Charitablg activitles Events Charitable donations 596,179 481.000 34.400 Total 624,693 515.400 NET INCOME 10,347 22,433 ReconcS1iatlon of funds Total funds brought forward 1.695.666 1.673.233 Total funds carrled forward 1.706.013 1.695.666 The notes form part of these financial statements Page 5
The Hampstead Village Shul Balance Sheet 31 August 2024 2024 Unr05tricted fund 2023 Total fund5 Notes Fixed assets Tangible assets 1,301,452 1,323.435 Current assets Debtors Cash 2t bank 10 30.809 376,151 18,170 373.292 406.960 391,462 Crèditors Amounts falling due within one year 11 12,3991 119,2311 Net current assots 404,561 372,231 Total assets18ss currgnt liabilities 1,706,013 1,695.666 NEf ASSETS 1,706,013 1,695.666 Funds Unrestricted funds 1 706,013 1,695.666 Total funds 1.706013 1,695.666 The charitable company 1$ entitl1 lo exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The membets have not required the company to obtsin an audit of ils financial statements for the year ended 31 August 2024 in a¢cordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities ftsr lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the slate of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo ffinaneial ststements. $0 far as applicable to the charitable company. Ibl These financial slalemenls have been prepared in a¢cordance with the provisions applicable lo charitable companies subjeel to tho small companies regim8. The fin nci nt<were approved by th and werg signed alf by.. of Trus nd authorised on Green - The notes fomi part of these financial slalements Page 6
The Hampstead Village Shul Cash Flow Statement for tho year ended 31 August 2024 2024 2023 Notgs Cash flows from operatlng activlties Cash generated from operations 13 2,859 58,691 Net Cash providod by operating activities 2.859 58,691 Change in cash and cash equivalènts in the rgporting period Cash and cash equivalents at tho beginning of tho rgporting pgriod 2.859 58,691 373,292 314,601 Cash and cash equivalents at the end of the reporting period 376,151 373,292 The notes form part of these financial ststements Page 7
The Hampstead Vlllage Shul Notes to the Financial Statgments for thg ygar ended 31 August 2024 Accountlng pollcies Basis of prgparing the financial statements The financial statements of the charitsble company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Ststemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Sl8nd8rd applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Based on these assessments and the eurrenl resources available, the Trustees have concluded that they can continue lo adopt the going concern basis in preparing the annual report and accounts Incom All income is CogniSed in the Statement of Financial Activities once the charity has enlitlemenl to the funds. it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charrfcy lo that expenditure. (t is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation ean be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attn'buted to particular headings they have been allocated lo activities on a basis consistent with the use of resources. Tangible fixad assets Depreciation is provided at the following annual rates in order to writ8 off each asset over its estimated useful life. Freehold propety Short leasehold Fixtures and fittings Motor vehides 2V/o straight line on buildings 20.kn straight line 250/0 straight line 200fi straight line Taxatlon The charity is exempl from corporation tax on its Gharitable activib'es. Fund accounting Unrestricted funds can be used in accordance with the charitabl8 objectives at the discretron of the trustees. Restricted funds can only be used for parti¢ular restricted purposes within the objects of tho charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Government grants Government grants a wognised in accordance with the accruals model. Donations and legacles 2024 2023 Gifts Grants 605.406 6.893 491,725 5.135 612.299 496.860 Page 8
The Hampstead Village Shul Notes to the Financial Statements - Continugd for the year ond8d 31 August 2024 Donatlons and legacles continued Grants received, included in the above, are as follows.. 2024 2023 Other grants 6.893 5,135 Investment Income 2024 2023 Rents received Investment income 10,000 12.741 37,798 3,175 22,741 40,973 Charltablè activlties costs Support osts (sèè note 51 Direct Costs Totals Events Charitable donation$ 327,372 28,514 268.807 596,179 355,886 268 807 624,693 Support costs Managèmènt Events 268,807 Support ca8ts. included in the above. are as follows.. Management 2024 2023 Total actlvltles Events Wages Social security Pensions Rent, rates, light & heal Insurance Postage and stationery Sundries Travelling Rabbi's hospi181ity Communications Bank charges Repairs and renewals Security costs Independent examinerfs costs 68,278 776 1.426 93,676 5.008 35,128 420 85,528 4,359 5,954 4,171 145.3151 13,582 3.755 1.710 4,895 11,357 3,690 24.975 4.634 3.710 1.528 8.582 12,657 4.020 Carried forward 233,614 129,234 Page 9
Thg Hampstead Villagè Shul Notes to the Financlal Statements - continued for the year ended 31 August 2024 Support costs . continued Managemgnt. continued 2024 2023 Total activities Evgnts Brought forward Cleaning Motor expenses Computer costs Training costs Depreciation of freehold prOty 233,614 2.114 947 9,115 1,034 129.234 1,500 1,612 16,979 1,621 21.872 268,807 172 818 Nét incomel(èxpendlture) Nel incornellexpendilurel is slated after chargingllcredilingl.. 2024 2023 Depreciation - Liwned assets Other operating leases Independent ex8minels costs 21,983 93.676 4,020 21,872 85,528 3.690 Trustees. romuneration and bgngfits There were no trustees, Ternuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 August2024 nor for the year ended 31 August 2023. Staff costs 2024 2023 Wages and salarigs Social security costs Other pension costs 68,278 776 1.426 35,128 420 35,548 The average monthly number of employees during the year was as follows.. 2024 2023 Admin No employees received emduments in excess of £60.000. Page 10
Tho Hampst8ad Villago Shul Notes to the Flnanclal Statements - continued for the year ended 31 August 2024 Tanglble fixed assets Fixtures and fittings Freehold property Short lèasèhold Motor vehlcles Totals Cost At 1 September 2023 Disposals 1,498.333 74,374 17,351 46,259 11,260) 1,636,317 11,2601 At 31 August 2024 1,498,333 74,374 17,351 34,999 1,625,057 Depreclatlon Al 1 September 2023 Charge for year Eliminated on disposal 195,898 14.983 74,374 17,351 25,259 7,000 11,2601 312.882 21,983 11,2601 Al 31 August 2024 210,881 74,374 17,351 20,999 323,605 Net book value Al 31 August 2024 1,287,452 14,000 1,301,452 Al 31 August 2023 1,302,435 21,000 1,323,435 10. Dobtors: amounts falling due wlthln one year 2024 2023 Prepayments and accrued income 30,809 18.170 11. Credltors- amounts falllng due wlthln one year 2024 2023 Trade creditors Other creditors 1201 2,419 17,970 1,261 2.399 19.231 12. Related party dlsclosures There were no related paty transactions for the year ended 31 August 2024. 13. ReGonGiliation of ngt in¢omg to ngt Cash flow from opgrating activitigs 2024 2023 Net Income for the reportlng perlod (as per the Statement of Flnanclal Actlvltlesl Adjustments for. Depreciation charges Increase in debtors IDecreasellincrease in creditors 10,347 22,433 21,983 112.6391 16.8321 21.872 14,5391 18.925 Net cash provlded by operation$ 2.859 58.691 Page11
The Hampstead Village Shul Notes to the Financial Statements - continuod for the year ended 31 August 2024 14. Analysis of changes In net funds At 119123 Cash flow At 3118124 Net cash Cash al bank 373,292 2,859 376,151 373,292 2,859 376.151 Total 373,292 2.859 376.151 Page 12