REGISTERED COMPANY NLIMBER: 07030491 (England and Wales) REGISTERED CHARITY NUMBER: 1133578 th Na8ler Simmons Chartered Accountants and Statutory Auditors S Beaumont Gate Shenley Hill Radlett WD7 7AR *AECEIR68* 0311012025 COMPANIES HOUSE #143 ENEW OND Contents of the Flnan FOR THE YEAR OED Sal Stai DE mÈnts ER2 Page Report of the TNstees Report of the Independent Audltor5 Statement of Financlal Artlvsties 10 to 11 8alance Sheet 12 to 14 Cash Flow Statement 15 Notes to the Cash Flow Statement 16 Notes tr* the Finan¢lal Statèments 17 to 34 RE Re ort of theTfU YEAR E FO The trustee5 who are also directors of the charity for the purposes of the Companies Att 2006, present thpir report wlth the h'nanclal staternents of the charity for the year ended 31 December 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charities preparlng thelr accounts In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND AcnviTIES Objerti¥es and •ctlv•ties The objectives of the company are the contlnuance, support and maintenance of the synago8ue at Abbey Road, London and otherwise for the advancement and promotion of the practice of teachin8 traditional Judaism. The objectives of the company are achieved by the maintenance of the 5yna8ogue and the provlsion of the feli8ious and educatlonal and other related activities Includin8 regular services held weekly and on all Jewish festivals and holy days; religion School on Sundays,. life cycle support,. weekday and evening educational and social programme5 throughout the year. Achievements and performance During the 2024 corporate year the company continued to fulfil its function in accordance with the Mernorandum and Arti¢le5 of Association. by providing a full range of Jewish religious, social and educatlonal services for our congregation and their families. Despite the difficult external circumstances, the past year has been one of growth and resilience for our companv, Whether through our growing semces, our thriving youth provision, many cultural event5, or soclal action projects, our community has demonstrated a powerful commitment to living out the values of modern Judaism. In addition to providing over 3SO prayer services, we have performed 15 weddings and 24 comin8 of age ceremonie5. We have upgraded our heating sV5tem and replaced our boilers. The Council monitors progress and achSevement5 through regular reports from key staff and Council representatives who have specific responsibilities. Publlc benefit The council has complied with their duty In sertion 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission. STRATEGIC REPORT Achlevements and performance Fund Ralslng Fund raising 15 undertaken by Senior staff and council members. External fund raisers are not utilised. Focusing on community relationships help5 to ensure tliat no Individual is under pressure to donate, whlch in turn protects individuals that could be consldered vulnerable. No complaints have been received in relatIc￿ to fund raisin8 activities. Financial wiew Pay reviews The trustees have a pay review pollcy that links salaries to inflationary indexes. This is reviewed by the executive committee at least annually. Pa8e I THE LONDON AGOGUE GISTERED NUMBER: 070 91 ftheTr ENDED OR THE YE ECEMBE 2024 STRATEGIC REPORT Financlal re¥lew Financlal posltlon For the year ended 31 December 2024 the company had total incoming resources of £948,816 12023.. £1,043,131). Total resources expended amounted to £989,728 12023.. £928,436). Excludin8 specific spend from designated and restriaed funds, resources expended were £904,19112023.' E834,2471. The company's inteiest in 29 Goldhurst Terrace, with a net book value of E924,397 {2023.' £925.4681, 15 held within a designated. unrestricted fund. Investment pollcy and oblectlves Investment fund5 totalled El,565,377 12023.. £1,534,5731. Investment funds gained in value by £17,944 12023.. reduced by £59,880). The investment funds are mana8ed roughly equally between Waystone Financial Investments Limited ond Ruffer LLP which target long term capltal 810￿h. The investment committee, which is a sub-committee of the finance committee, monitors performance and meets the manager a minimum of once a year to review the performance of the investment mana8ers. ReseNes poII¢y At 31st December 2024 we maintained unrestflcted cash reserves of £226,839 12023 £314,788) which is in line with our reserve policy of havin8 sufficient cash revenues to meet three months of expected liabilities as they fa11 due. Net assets amounted to £3.194.748 12023.. E3,217,7161 of which reserves totalled El,620.368 12023.. £1,811.3871. Future developments Looking ahead and in a challenging wodd. the New London Synago8ue remains committed to ensurin8 that it remains a space where everyone feels welcome. There are scheduled works to upgrade our toilets and to undertake building maintenance. We will continue to fundraise so that we can ensure adequate security provision. STRucfuRE. GOVERNANCE AND MANAGEMENT Governing document The charitv 15 controlled by it5 governin8 document, a deed of trust, and constitute5 a limited company. limited by guarantee. as defined by the Companies Act 2006. Orlanlsatlonal struciure Council members are trustees for charity purposes and director5 for company law and are hereinafter variously referred to as Council Members. director5 or trustees. They are elected for a period of 3 years at the Annual General Meeting. They are nominated and voted in by members of the New London Synagogue. The Treasurer and Synagogue Wardens are ex officio members of the Council. Page 2 THE NEW LONDO SYNAGOGUE STERED NUMBER: 07030491 uste FO THÉY ED31 BER STRUCTURE, GOVERNANCE AND MANAGEMENT Decislon maklng Decision making 15 in accordance with ènd regulated by the Memorandum and Articles of A550ciation. The Councll has overall responsibility for the management of the Syna808ue. Day to day management of the Synagogue is delegated to the Executive Committee of Council. Recruitmenl and appolntment of trustees Councll members are elected or appointed In accordance with the provi51on5 of the Memorandum and Articles of Association. There Is no formal training requirement. There is an induction on Company policy and responsibilities and expectations of being a Trustee when appointed and then informal tTainin8 (through Ma50rti Judaism and alike) throughout the year. Related parties No council members received any remuneration during the year. Relatlonship between charity and related parties Rabbi Jeremy Gordon Is an ex officio non.votin8 member of the council and is also an employee of the company. His salary is incorporated in the staff costs of note 11, Rlsk management The council has addre55ed the risks to which the company is exposed and is satlsfied that systems are in place to mitl8ate exposure to the major risks. The company maintains a rlsk re8lSter that is reviewed by the executive committee on a regular basis. Principal risks. in addition to financial risk5. include security and Safety and child protection measures. Financial risks are monitored by the finance committee and at monthly executive committee meetings. There has been an increased Security risk over the past few years. Our head of security has put in place additional security measures. New security gate5 for the entrance of the synagogue were fitted and finished in September 2019. Health and Safety policies are maintained and monitored by the operations manager. Child protection policies are in place and the head of youth is responsible for ensuring that these policies are adhered to at all time5. Senior staff responsible for day-to-day management were: Jeremy Gordon (Rabbi) Phil Ashleigh Ioperations manager) None of the council members ha5 any beneficial interest in the company. Each council member guarantees to contribute £1 in the event of a winding up. Page 3 ThENEWL N SYNA EGI TER UMB 030491 RTHEY REFERENCE ANO ADMINISTrATIVE DETAILS Regist•red Company number 07030491 IEn8land and Wales) Reglrtered Chaflty number 1133578 e8iStered office 33 Abbey Rood London NW8 OAT Trust•05 The trustees serving during the year were as follow5.. Executlve Officers Mlriam Lennard Abigail Levin Brian Linden Chalr Chair Treasurer (Appolnted 11 November 20241 (Resigned 11 November 20241 Secretary Phil Ashlei8h 8oard Andrew Hirsch Joe Carlebach Michael Ottolen8hl Richard Baron Anthony Norton Rachel K05min David Futerman Emilie Szasz-Frank Judith Stone Robert Low Aviva Raichelson IAppointed 5 February 20241 (Appointed 5 February 20241 (Appointed 5 February 20241 (Appointed 11 November 20241 {Resigned 05/021241 IResigned OS1021241 (Resigned 051021241 (Resigned 18 July 20241 Auditors Naglersimmons Chartered Accountants and Statutory Auditors S Beaurnont Gate Shenley Hill Radlett WD7 7AR Page 4 THE NEW LONOON SYNAGOG REGIST RED NUMBER: 07030491 fth ND D31 ustee FOR TH BER STATEMENT OF TRUSTEES, RE5PON51BIIITIES The tfustees Iwho are also the dlrectors of The New London Synagogue for ili¥ purposes of company lawl are responsible for preparing the Report of the Trustees and the financlal Statements in accordance with applicable law and Unlted Kin8dom Accountin8 Standards (United Kin8dom Generally Accepted Accounting Practlce). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair vlew of the state of affairs of the charitable company and of the Incoming resources and appllcation of resources, including the income and expenditure, of the charitable company for that period. In preparing those flnancial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in thè Charity SORP.. make jud8ement5 and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to p￿SUme that the charitable company will continue in busines5. The trustees are responsible for keeping proper accountin8 records which disc105e with reasonable accuracy at any time the financial position of the charltable company and to enoble them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware: and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informatlon and to establish that the auditors are aware of that information. AUDITORS The auditors. Na8ler Simmons, will be proposed for re.appointment at the forthcoming Annual General Meeting. Report of the trustee5, incorFMJrating a stralegic report, approved by order of the board of trustees. as the company directors, on 22 September 202S and signed on the board's behalf bv.. Mrs M Lennaid- Trustee Page S Re ort nden to the T tees of na Oplnlon We have audited the financial statements of The New London Synagogue (the 'charitable company'l for the yp.ar pnded 31 December 2024 which comprlse the Statement of Financial Artivitie5, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of slgnificant accountinB policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards (United Kin8dom Generally Accepted A¢¢ountin8 Practlcel, In Our opinion the financial statements.. give a true and fair view of the state of the charitable company's affair5 as at 31 December 2024 and of its incoming resources and application of resource5, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilitie5 under those Standards are further described in the Auditors, responsibilities for the audit of the financial statements section of OUT report. We are independent of the charitable company in accordance with the ethical requlrements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basls for our opinS0n. Cancluslons relatlng to golni concern In auditing the financial statement5. we have concluded ihat the trustee5' use of the going concern basis of accounting in the preparatlon of the financial statements Is appropriate. Based on the work we have performed, we have not Identified any materlal uncertainties relatln8 to events or condition5 that, individually or collectively, may cast significant doubt on the charitable company's abillty to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of thls report. Page 6 Ae ortofth In ndent Audlt to the Tntst Th New London S ue Other informatlon The trustees are responsible for the other information. The other information comprises the information included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial ststements does not cover the other information and, except to the extent otherwlse explicitly stated In our report. we do not express any form of assurance conclusion thereon. In connectlon with our audit of the financial statements, our responsibility 15 to lead the other information and, in doing so, consider whether the other information is materially Inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mi55tated. 11 we Identify such material inconsistencies cr apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the flnancial statements themselves. If, based on the work we have performed, we conclude that there 45 a material mi55tatement of this Other information, we are required to report that fact. We have nothing to report In this regard. Matters on whlch we are iequlred to report by exceptlon We have nothing to report in respect of the following matters whefe the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements,. or the charitable company has not kept adequate accounting records,. or the financial statements are not in agreement with the accounting records and return5; or we have not received all the informotion and explanations we require for our audit. Re5ponslbllities of trustees As explained more fully in the Statement of Tru5tees' Re5ponsibilitie5. the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for beln8 satisfied that they give a true and fair view. and for such internal control as the trustee5 determine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparin8 the flnancial statements, the trustees are responsible for a55es5in8 the choritable company's ability to continue as a going concern. disclosin& as applicable, matters related to going concern and using the 80in8 concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternatlve but to do so. Page 7 Re ort of h Inde endent Auditors to th Truste Lond Our responslbllitie5 for the audlt ol the IlnaKlal siatements We have been dppointed as auditor5 undp.r Sertion 144 of the Charitles Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financlal statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Audltors that includes our opinion. Reasonable assurance 15 a hi8h level of a55urance, but is not a guarantee that an audit conducted in accordance with ISA5 IUKI woll always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be experted to influence the economic decision5 of u5er5 token on the basis of these financlal statements. 8ecau5e of the inherent limitations of an audit, there 15 a risk that we will not detert all irregularlties, Includin8 those leading to a material mlsstaternent In the financial statements or non