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2021-12-31-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 2021

FOR

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

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.

At the start of the year, Beis Gavriel joined up with Machne Israel Loan Fund (MILF) in order to further the charity's objectives as a grant making entity and bring the experience of the trustees and activities under one roof.

The organisation completed the transfer of all the activities of MILF and now operates all its activities. This includes grants, interest free loans and poverty relief.

Beis Gavriel continues to focus in general on its poverty relief, organizational support, sickness support and infirmity amongst members of the Jewish faith

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".

The organisation, now in partnership with Machne Israel Loan Fund, also provides specific grants and interest free loans to those who qualify and are in need of financial assistance.

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 T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Principal funding sources

During the year, Beis Gavriel received £408,064 (2020: £102,837) for sponsored services, assets, events and pledges from both members and attendees of the synagogue.

Beis Gavriel made donations in the year totalling £57,850 (2020: £192,256) to other charitable organisations of choice, through its benevolence fund. The charity also made donations in the year totalling £109,679 (2020: nil) to qualifying needy individuals.

Reserves policy

As at 31 December 2021, the charity has total unrestricted funds of £155,442 (2020: £5,032) and restricted funds of £1,467,687 (2020: £1,461,949).

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.

The charity has no other major planned projects or partnerships in the coming year other than continuing with and expanding on the existing projects.

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)

Page 2

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Registered Charity number 1129679

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 October 2022 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 2021.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA 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 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 Moshe Hirsh FCCA

31 October 2022

Page 4

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Charitable activities
4
Institutional Support
Grants to Individuals
Other charitable expenditure
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
347,472
-
347,472
15,050
108,715
50,797
174,562
172,910
(22,500)
150,410
5,032
155,442		 Restricted
funds
£
47,300
13,292
60,592
42,800
964
33,590
77,354
(16,762)
22,500
5,738
1,461,949
1,467,687		 2021
Total
funds
£
394,772
13,292
408,064
57,850
109,679
84,387
251,916
156,148
-
156,148
1,466,981
1,623,129		 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

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 2021

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
3,094
-
3,094
185,905
53,529
239,434
(52,920)
186,514
189,608
(34,166)
155,442		 Restricted
funds
£
730,750
353,912
1,084,662
18,190
364,835
383,025
-
383,025
1,467,687
-
1,467,687		 2021
Total
funds
£
733,844
353,912
1,087,756
204,095
418,364
622,459
(52,920)
569,539
1,657,295
(34,166)
1,623,129
155,442
1,467,687
1,623,129		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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...

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

BALANCE SHEET - continued 31 DECEMBER 2021

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 October 2022 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 2021

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.

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

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 2021

2. DONATIONS AND LEGACIES

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |£|£| |General donations|376,951|50,430| |Gift aid|-|2,556| |Government grants|521|729| |Benevolence fundraising|17,300|41,600| |394,772|95,315| |General donations include donations in kind of £42,000 in relation to rent payable to the Federation of Synagogues.|

----- End of picture text -----

3. INVESTMENT INCOME

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |£|£| |Investment income|13,292|7,522|

----- End of picture text -----

----- Start of picture text -----
||||| |---|---|---|---| |4.|CHARITABLE ACTIVITIES COSTS| |Grant| |funding of| |activities|Support| |(see note|costs (see| |6)|note 7)|Totals| |£|£|£| |-| |Institutional Support|57,850|57,850| |Grants to Individuals|109,679|-|109,679| |-| |Other charitable expenditure|84,387|84,387| |167,529|84,387|251,916| |5.|DIRECT COSTS OF CHARITABLE ACTIVITIES| |2021|2020| |£|£| |-| |Religious services|2,250|

----- End of picture text -----

continued...

Page 9

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

6. GRANTS PAYABLE

Institutional Support
Grants to Individuals
The total grants paid to institutions during the year was as follows:
Benevolence Distribution		 2021
£
57,850
109,679
167,529
2021
£
57,850		 2020
£
92,256
-
92,256
2020
£
92,256

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:

Gan Menachem Hendon Ltd
Kolyom Trust Ltd
Beth Hamedrash Kingsley Way Trust
British Friends of Orayta
Grants less than £5,000		 £
15,050
9,000
7,075
6,000
20,725
57,850

7. SUPPORT COSTS

Governance
Management
costs
£
£
Other charitable expenditure
78,914
5,473
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021
£
Depreciation - owned assets
34,622		 Totals
£
84,387
2020
£
34,964

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 2021

9. TRUSTEES' REMUNERATION AND BENEFITS

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

During the year the charity paid fees of £5,473 (2020: 1,320) 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 2021 nor for the year ended 31 December 2020.

10. STAFF COSTS

The average head count of employees during the year was nil (2020: nil)

No employees received employee benefits during the year (2020: nil)

11. TANGIBLE FIXED ASSETS

Improvements
Books and
to
holy
property
articles
£
£
COST
At 1 January 2021 and
31 December 2021
811,477
6,575
DEPRECIATION
At 1 January 2021
106,096
5,518
Charge for year
33,590
265
At 31 December 2021
139,686
5,783
NET BOOK VALUE
At 31 December 2021
671,791
792
At 31 December 2020
705,381
1,057		 Fixtures
and
fittings
£
16,656
13,587
767
14,354
2,302
3,069		 Holy
scrolls
£
58,959
-
-
-
58,959
58,959		 Totals
£
893,667
125,201
34,622
159,823
733,844
768,466

continued...

Page 11

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

12.
FIXED ASSET INVESTMENTS
COST LESS IMPAIRMENT
At 1 January 2021 and 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020
There were no investment assets outside the UK.
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Bank loans
Accrued expenses
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans
16.
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		 Investments
£
353,912
353,912
353,912
2021
2020
£
£
204,095
18,190
2021
2020
£
£
2,350
-
34,450
2,500
10,000
5,833
6,120
3,600
52,920
11,933
2021
2020
£
£
34,166
44,167
2021
2020
£
£
42,000
42,000
168,000
168,000
654,500
696,500
864,500
906,500

continued...

Page 12

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

17. MOVEMENT IN FUNDS

Unrestricted funds
General shul fund
Restricted funds
Benevolence fund
Building fund
Sefer Torah
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General shul fund
Restricted funds
Benevolence fund
Building fund
TOTAL FUNDS		 At 1.1.21
£
5,032
679,419
723,571
58,959
1,461,949
1,466,981
as follows:		 Net
movement
in funds
£
172,910
16,828
(33,590)
-
(16,762)
156,148
Incoming
resources
£
347,472
60,592
-
60,592
408,064		 Transfers
between
funds
£
(22,500)
22,500
-
-
22,500
-
Resources
expended
£
(174,562)
(43,764)
(33,590)
(77,354)
(251,916)		 At
31.12.21
£
155,442
718,747
689,981
58,959
1,467,687
1,623,129
Movement
in funds
£
172,910
16,828
(33,590)
(16,762)
156,148

continued...

Page 13

THE HENDON FAMILIES SYNAGOGUE LIMITED T/A BEIS GAVRIEL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.1.20
in funds
£
£
Unrestricted funds
General shul fund
1,299
2,113
Restricted funds
Benevolence fund
748,363
(43,134)
Building fund
741,056
(33,589)
Sefer Torah
50,873
-
1,540,292
(76,723)
TOTAL FUNDS
1,541,591
(74,610)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General shul fund
53,715
Restricted funds
Benevolence fund
49,122
Building fund
-
49,122
TOTAL FUNDS
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)

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 Sefer Torah

Fund to raise money to purchase a caravan for outreach work and youth trips 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 2021

18. 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