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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 06778461 (England and Wales) REGISTERED CHARITY NUMBER: 1129679

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 15

THE HENDON FAMILIES SYNAGOGUE LIMITED (REGISTERED NUMBER: 06778461) T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Hendon Families Synagogue Limited, trading as Beis Gavriel, has the responsibility of co-operating with the incumbent, Rabbi Menachem Junik, in promoting the Jewish faith and the Lubavitch ethos under the guidance of the Lubavitcher Rebbe.

OBJECTIVES AND ACTIVITIES

Objectives and aims

For many years Beis Gavriel was committed primarily to enabling as many people as possible to pray at our Synagogue, to practice the Jewish faith and to be inspired by its way of life. It achieved this through the offerings it provided through its synagogue and local community events.

In 2017 Beis Gavriel began a partnership with the Federation of Synagogues (the Federation) to join as an “associate member” through which to purchase its own property and expand its offerings to its members and the wider Jewish community.

During this time Beis Gavriel saw itself through a transition of activities from the organisation to the Federation, and completed transfer of these various activities through to 2019 and 2020.

The objectives of the organisation remain the same, and it continues to provide support to its new partnership with the Federation, however many of its daily/ weekly activities have been transferred to the Federation.

In addition to providing support to the new partnership, Beis Gavriel continues and has placed added focus on its poverty relief, organizational support, sickness support and infirmity amongst members of the Jewish faith. This now serves as a more primary objective of the organization.

When planning our activities for the year, the incumbent and the trustees continue to consider the Commission's guidance on public benefit and the specific guidance on charities for the advancement of religion and the advancement of the Jewish faith. In particular, it tries to enable all members of the Jewish faith to live in accordance with Jewish religion through prayer; learning of the Torah (Bible); and developing their knowledge and trust in GD.

The charity also advances such other objects as are for the benefit of the public and are charitable in accordance with the laws of England and Wales.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Under the new partnership with the Federation, Beis Gavriel’s objectives are now primarily “grant making”

It continues to fundraise and support its new partnership with the Federation, which includes all the activities the organization has been actively involved in in the past, including and mainly being the following:

Fundraising activities

As part of the new focus of Beis Gavriel, it continues to maintain and raise further funds for its benevolence fund, through which it primarily supports other charitable organisations in the UK.

In an effort to provide long-term income, the organisation also made several investments in funds and property funds, and is seeing regular recurring income as a result.

Page 1

THE HENDON FAMILIES SYNAGOGUE LIMITED (REGISTERED NUMBER: 06778461) T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

FINANCIAL REVIEW

Principal funding sources

During the year, Beis Gavriel received £102,837 (2019: £525,700) for sponsored services, assets, events and pledges from both members and attendees of the synagogue.

Beis Gavriel made donations in the year totalling £92,256 (2019: £120,999) to other charitable organisations of choice, through its benevolence fund, it was also made available for qualifying needy individuals but none was distributed during the year.

Reserves policy

As at 31 December 2020, the charity has total unrestricted funds of £5,032 (2019: £1,299) and restricted funds of £1,461,949 (2019: £1,540,292).

It is the policy of the charity to maintain unrestricted funds, which are the free reserve of the charity, at a level, which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity.

The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide financial stability and flexibility.

FUTURE PLANS

The charity plans to continue its fundraising and grant making efforts in line with its new core objectives.

Additionally, based on the close connection in activities between Beis Gavriel and another charity, Machne Israel Loan Fund, the trustees made the decision to merge the two charities under one entity in Beis Gavriel.

The new partnership will begin on 1 January 2021 where Beis Gavriel will assume all assets and liabilities of Machne Israel Loan Fund, and continue all the responsibilities in the same manner without interruption. Machne Israel Loan Fund will cease to operate under its entity and will close.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of committee members

All those who attend our services / members of the congregation are encouraged to register on the Electoral Roll and stand for election to Beis Gavriel.

Beis Gavriel Trustees and Rabbi are responsible for making decisions on all matters of general concern and importance to the synagogue, including deciding on how the funds of Beis Gavriel are to be spent. The Trustees meet on a regular basis for the period to discuss such matters and related issues.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error and other risks.

Regular meetings are held to assess the risks that may face the organisation relating to governance, operations, finances, the external environment and compliance with the laws and regulations. On the identification of risks, plans and procedures are put in place by the Trustees and the Rabbi to eradicate and mitigate their effect on the organisation. A multitude of skills pulled together from the Trustees, the Rabbi and other committee members allows successful application of the risk assessment and management.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06778461 (England and Wales)

Registered Charity number

1129679

Page 2

THE HENDON FAMILIES SYNAGOGUE LIMITED (REGISTERED NUMBER: 06778461) T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Registered office 105 Eade Road OCC Building A 2nd Floor, Unit 11A London N4 1TJ

Trustees

Mr P Davidoff Mr M M Freundlich Mr M M Junik

Company Secretary Mr P Davidoff

Approved by order of the board of trustees on 31 August 2021 and signed on its behalf by:

Mr P Davidoff - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HENDON FAMILIES SYNAGOGUE LIMITED

Independent examiner's report to the trustees of The Hendon Families Synagogue Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to 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 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Howard Fox FCA CTA Chartered Accountant

31 August 2021

Page 4

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Raising funds
Charitable activities
4
Institutional Support
Events and functions
Services and prayer
Other charitable expenditure
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
53,715
-
53,715
-
-
-
-
51,602
51,602
2,113
1,620
3,733
1,299
5,032		 Restricted
funds
£
41,600
7,522
49,122
-
92,256
-
-
33,589
125,845
(76,723)
(1,620)
(78,343)
1,540,292
1,461,949		 2020
Total
funds
£
95,315
7,522
102,837
-
92,256
-
-
85,191
177,447
(74,610)
-
(74,610)
1,541,591
1,466,981		 2019
Total
funds
£
522,544
3,156
525,700
40,061
120,999
16,898
3,212
91,299
272,469
253,231
-
253,231
1,288,360
1,541,591

The notes form part of these financial statements

Page 5

THE HENDON FAMILIES SYNAGOGUE LIMITED (REGISTERED NUMBER: 06778461) T/A BEIS GAVRIEL

BALANCE SHEET 31 DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
14
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
4,126
-
4,126
-
54,506
54,506
(9,433)
45,073
49,199
(44,167)
5,032		 Restricted
funds
£
764,340
353,912
1,118,252
18,190
328,007
346,197
(2,500)
343,697
1,461,949
-
1,461,949		 2020
Total
funds
£
768,466
353,912
1,122,378
18,190
382,513
400,703
(11,933)
388,770
1,511,148
(44,167)
1,466,981
5,032
1,461,949
1,466,981		 2019
Total
funds
£
803,430
278,923
1,082,353
36,164
443,611
479,775
(20,537)
459,238
1,541,591
-
1,541,591
1,299
1,540,292
1,541,591

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

THE HENDON FAMILIES SYNAGOGUE LIMITED (REGISTERED NUMBER: 06778461) T/A BEIS GAVRIEL

BALANCE SHEET - continued 31 DECEMBER 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 31 August 2021 and were signed on its behalf by:

Mr P Davidoff - Trustee

Mr M M Freundlich - Trustee

Mr M M Junik - Trustee

The notes form part of these financial statements

Page 7

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement 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 constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Government grants

Government grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the company recognises as expenses the related costs for which the grants are intended to compensate. Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised in profit or loss in the period in which they become receivable.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - over the period of the lease Books and holy articles - 25% reducing balance Fixtures and fittings - 25% reducing balance Motor vehicles - 20% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Fixed asset investments

Fixed asset investments are initially recorded at cost and subsequently stated at cost less impairment losses.

continued...

Page 8

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

2. DONATIONS AND LEGACIES

General donations
Gift aid
Government grants
Membership
Building fundraiser
General fundraising & aliyos
Sponsorships
Benevolence fundraising
Events & kiddush income		 2020
£
50,430
2,556
729
-
-
-
-
41,600
-
95,315		 2019
£
206,835
44,106
-
(658
11,347
2,710
600
256,192
1,412
522,544

General donations include donations in kind of £42,000 in relation to rent payable to the Federation of Synagogues.

3. INVESTMENT INCOME

INVESTMENT INCOME
Investment income
Deposit account interest		 2020
2019
£
£
7,522
3,141
-
15
7,522
3,156

4. CHARITABLE ACTIVITIES COSTS

Grant
funding of
Direct
activities
Costs (see
(see note
note 5)
6)
£
£
Institutional Support
-
92,256
Other charitable expenditure
2,250
-
2,250
92,256		 Support
costs (see
note 7)
£
-
82,941
82,941		 Totals
£
92,256
85,191
177,447

continued...

Page 9

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

Events food and entertainment
Religious services
GRANTS PAYABLE
Institutional Support		 2020
2019
£
£
-
19,931
2,250
179
2,250
20,110
2020
2019
£
£
92,256
120,999

6. GRANTS PAYABLE

All grants paid to institutions went towards one of the following purposes: the relief of poverty, advancement of Jewish religion and advancement of Jewish education.

The following grants to institutions were paid during the year:

The Chabad Jewish Community of Central London
Hasmonean High School Charitable Trust
The Friends Of Shamir (Inner Wellspring)
Beth Hamedrash Kingsley Way Trust
Kolyom Trust
Grants less than £5,000		 £
50,000
6,000
6,000
5,840
5,000
19,416
92,256

7. SUPPORT COSTS

Governance
Management
costs
£
£
Other charitable expenditure
81,622
1,319
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020
£
Depreciation - owned assets
34,964		 Totals
£
82,941
2019
£
35,422

8. NET INCOME/(EXPENDITURE)

continued...

Page 10

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

9. TRUSTEES' REMUNERATION AND BENEFITS

None of the Trustees have any beneficial interest in the company.

During the year the charity paid fees of £1,320 (2019: £5,002) for bookkeeping, administrative and support services to DAS Accounting Services Ltd, a company controlled by Mr P Davidoff, a trustee of the charity. This is to cover part time administrative support to minimise costs for the organisation. The charity considered the Charity Commission's guidance on payments to trustees and are satisfied the amounts paid are at arm's length and in the best interest of the charity.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

10. TANGIBLE FIXED ASSETS

Improvements
Books and
to
holy
property
articles
£
£
COST
At 1 January 2020 and 31 December 2020
811,477
6,575
DEPRECIATION
At 1 January 2020
72,507
5,166
Charge for year
33,589
352
At 31 December 2020
106,096
5,518
NET BOOK VALUE
At 31 December 2020
705,381
1,057
At 31 December 2019
738,970
1,409
Motor
Holy
vehicles
scrolls
£
£
COST
At 1 January 2020 and 31 December 2020
6,500
58,959
DEPRECIATION
At 1 January 2020
6,500
-
Charge for year
-
-
At 31 December 2020
6,500
-
NET BOOK VALUE
At 31 December 2020
-
58,959
At 31 December 2019
-
58,959		 Fixtures
and
fittings
£
16,656
12,564
1,023
13,587
3,069
4,092
Totals
£
900,167
96,737
34,964
131,701
768,466
803,430

continued...

Page 11

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. FIXED ASSET INVESTMENTS

COST LESS IMPAIRMENT
At 1 January 2020
Additions
Capital repayments
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
There were no investment assets outside the UK.
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Bank loans
Accrued expenses
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans		 Investments
£
278,923
92,989
(18,000)
353,912
353,912
278,923
2020
2019
£
£
-
4,374
18,190
31,790
18,190
36,164
2020
2019
£
£
-
2,581
2,500
14,796
5,833
-
3,600
3,160
11,933
20,537
2020
2019
£
£
44,167
-

continued...

Page 12

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2020
£
42,000
168,000
696,500
906,500		 2019
£
42,000
168,000
738,500
948,500

16. MOVEMENT IN FUNDS

At 1.1.20
£
Unrestricted funds
General shul fund
1,299
Restricted funds
Benevolence fund
748,363
Building fund
741,056
Sefer Torah
50,873
1,540,292
TOTAL FUNDS
1,541,591
Net movement in funds, included in the above are as follows:
Unrestricted funds
General shul fund
Restricted funds
Benevolence fund
Building fund
TOTAL FUNDS		 Net
movement
in funds
£
2,113
(43,134)
(33,589)
-
(76,723)
(74,610)
Incoming
resources
£
53,715
49,122
-
49,122
102,837		 Transfers
between
funds
£
1,620
(25,810)
16,104
8,086
(1,620)
-
Resources
expended
£
(51,602)
(92,256)
(33,589)
(125,845)
(177,447)		 At
31.12.20
£
5,032
679,419
723,571
58,959
1,461,949
1,466,981
Movement
in funds
£
2,113
(43,134)
(33,589)
(76,723)
(74,610)

continued...

Page 13

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.1.19
in funds
£
£
Unrestricted funds
General shul fund
42,756
114,473
Restricted funds
School fund
35
-
Benevolence fund
496,529
149,372
Building fund
725,574
(10,982)
Mitzvah Tank
2,600
368
Sefer Torah
20,866
-
1,245,604
138,758
TOTAL FUNDS
1,288,360
253,231
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General shul fund
150,293
Restricted funds
Benevolence fund
256,192
Building fund
118,847
Mitzvah Tank
368
375,407
TOTAL FUNDS
525,700		 Transfers
between
funds
£
(155,930)
(35)
102,462
26,464
(2,968)
30,007
155,930
-
Resources
expended
£
(35,820)
(106,820)
(129,829)
-
(236,649)
(272,469)		 At
31.12.19
£
1,299
-
748,363
741,056
-
50,873
1,540,292
1,541,591
Movement
in funds
£
114,473
149,372
(10,982)
368
138,758
253,231

Benevolence fund Fund to raise money from individuals with the purpose of distributing to other registered charitable institutions, and also qualifying needy individuals Building fund Fund to set aside money for improvements to the property from which the Beis Gavriel Synagogue is run

Mitzvah tank Fund to raise money to purchase a caravan for outreach work and youth trips Sefer Torah Fund to raise money for the charity's Sefer Torah

continued...

Page 14

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

17. RELATED PARTY DISCLOSURES

Other than disclosed elsewhere in the financial statements, no related party transactions were undertaken that are required to be disclosed under FRS102

Page 15