REGISTERED COMPANY NUMBER: 07030491 (England and Wales)
REGISTERED CHARITY NUMBER: 1133578
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2025
for
THE NEW LONDON SYNAGOGUE
Nagler Simmons
Chartered Accountants and Statutory Auditors
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
THE NEW LONDON SYNAGOGUE
Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2025
|
Page |
Report of the Trustees |
1 to 5 |
Report of the Independent Auditors |
6 to 9 |
Statement of Financial Activities |
10 |
Balance Sheet |
11 to 13 |
Cash Flow Statement |
14 |
Notes to the Cash Flow Statement |
15 |
Notes to the Financial Statements |
16 to 33 |
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31December2025.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandard applicable
in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
Theobjectivesofthecompanyarethecontinuance,supportandmaintenanceofthesynagogueat Abbey
Road,Londonandotherwisefortheadvancementandpromotionofthepracticeofteaching traditional
Judaism.
Theobjectivesofthecompanyareachievedbythemaintenanceofthesynagogueandtheprovisionof the
religiousandeducationalandotherrelatedactivitiesincludingregularservicesheldweeklyandonall Jewish
festivalsandholydays;religionschoolonSundays;lifecyclesupport;weekdayandeveningeducational and
social programmes throughout the year.
Achievements and performance
Duringthe2025corporateyearthecompanycontinuedtofulfilitsfunctioninaccordancewith the
MemorandumandArticlesofAssociation,byprovidingafullrangeofJewishreligious,socialand educational
servicesforourcongregationand theirfamilies.Despitethedifficultexternalcircumstances,thepastyear has
been one of growthand resiliencefor our company.Whetherthroughour growingservices,our thriving youth
provision,manyculturalevents,orsocialactionprojects,ourcommunityhasdemonstrateda powerful
commitmentto livingoutthe valuesof modernJudaism.In additionto providingover350prayerservices, we
haveperformed3weddingsand24comingofageceremonies.Wehavemodernisedourtoilets.The Council
monitorsprogressandachievementsthroughregularreportsfromkeystaffandCouncilrepresentatives who
have specific responsibilities.
Public benefit
Thecouncilhascompliedwiththeirdutyinsection17oftheCharitiesAct2011tohavedueregardto the
guidance published by the Charity Commission.
STRATEGIC REPORT
Achievements and performance
Fund Raising
Fund raisingis undertakenby seniorstaffand councilmembers.Externalfund raisersare not utilised. Focusing
oncommunityrelationshipshelpstoensurethatnoindividualisunderpressuretodonate,whichin turn
protects individuals that could be considered vulnerable.
No complaints have been received in relation to fund raising activities.
Financial review
Pay reviews
Thetrusteeshaveapayreviewpolicythatlinkssalariestoinflationaryindexes.Thisisreviewedby the
executive committee at least annually.
Page 1
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2025
STRATEGIC REPORT
Financial review
Financial position
Fortheyearended31December2025thecompanyhadtotalincomingresourcesof£1,037,497 (2024:
£948,816).
Totalresourcesexpendedamountedto£977,938(2024:£989,728).Excludingspecificspendfrom designated
and restricted funds, resources expended were £914,725 (2024: £905,404).
Thecompany'sinterestin29GoldhurstTerrace,withanetbookvalueof£923,326(2024:£924,397),is held
within a designated, unrestricted fund.
Investment policy and objectives
Investmentfundstotalled£1,696,171(2024:£1,565,377).Investmentfundsgainedinvalueby £186,824
(2024:£17,944).The investmentfundsare managedroughlyequallybetweenWaystoneFinancial Investments
LimitedandCharlesStanleywhichtargetlongtermcapitalgrowth.Theinvestmentcommittee,whichis a
sub-committeeof the financecommittee,monitorsperformanceand meetsthe managera minimumof once a
year to review the performance of the investment managers.
Reserves policy
At31stDecember2025wemaintainedunrestrictedcashreservesof£293,469(2024:£226,839)whichis in
line withour reservespolicyof havingsufficientcashresourcesto meetthreemonthsof expectedliabilities as
they fall due.
Netassetsamountedto£3,379,273(2024:£3,194,747)ofwhichreservestotalled£1,893,963 (2024:
£1,620,368).
Future developments
Lookingaheadandinachallengingworld,theNewLondonSynagogueremainscommittedtoensuringthat it
remainsaspacewhereeveryonefeelswelcome.Therearescheduledworkstoupgradeourtoiletsand to
undertakebuildingmaintenance.Wewillcontinuetofundraisesothatwecanensureadequate security
provision.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charityis controlledby its governingdocument,a deed of trust,and constitutesa limitedcompany, limited
by guarantee, as defined by the Companies Act 2006.
Organisational structure
Councilmembersare trusteesfor charitypurposesand directorsfor companylaw and are hereinafter variously
referred to as Council Members, directors or trustees.
Theyareelectedforaperiodof3yearsattheAnnualGeneralMeeting.Theyarenominatedandvotedin by
membersof the New LondonSynagogue.The Treasurerand SynagogueWardensare ex officiomembersof the
Council.
Page 2
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Decision making
DecisionmakingisinaccordancewithandregulatedbytheMemorandumandArticlesofAssociation. The
CouncilhasoverallresponsibilityforthemanagementoftheSynagogue.Daytodaymanagementof the
Synagogue is delegated to the Executive Committee of Council.
Recruitment and appointment of trustees
Councilmembersare electedor appointedin accordancewith the provisionsof the Memorandumand Articles
ofAssociation.Thereisnoformaltrainingrequirement.ThereisaninductiononCompanypolicy and
responsibilitiesandexpectationsofbeingaTrusteewhenappointedandtheninformaltraining (through
Masorti Judaism and alike) throughout the year.
Related parties
No council members received any remuneration during the year.
Relationship between charity and related parties
RabbiJeremyGordonisanexofficionon-votingmemberofthecouncilandisalsoanemployeeof the
company. His salary is incorporated in the staff costs of note 11.
Risk management
Thecouncilhas addressedtherisksto whichthecompanyis exposedand is satisfiedthatsystemsarein place
tomitigateexposuretothemajorrisks.Thecompanymaintainsariskregisterthatisreviewedby the
executive committee on a regular basis.
Principal risks, in addition to financial risks, include security and safety and child protection measures.
Financial risks are monitored by the finance committee and at monthly executive committee meetings.
Therehasbeenanincreasedsecurityriskoverthepastfewyears.Ourheadofsecurityhasputin place
additionalsecuritymeasures.New securitygatesfor the entranceof the synagoguewerefittedand finished in
September 2019.
Healthandsafetypoliciesaremaintainedandmonitoredby theoperationsmanager.Childprotection policies
are in place and the head of youth is responsible for ensuring that these policies are adhered to at all times.
Senior staff responsible for day-to-day management were:
Jeremy Gordon (Rabbi)
Phil Ashleigh (Operations manager)
Noneofthecouncilmembershasanybeneficialinterestin thecompany.Eachcouncilmemberguarantees to
contribute £1 in the event of a winding up.
Page 3
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07030491 (England and Wales)
Registered Charity number
1133578
Registered office
33 Abbey Road
London
NW8 0AT
Trustees
The trustees serving during the year were as follows:
Executive Officers |
|
Miriam Lennard |
Chair |
Brian Linden |
Treasurer |
Secretary |
|
Phil Ashleigh |
|
Board
Andrew Hirsch
Joe Carlebach
Michael Ottolenghi
Richard Baron
Anthony Norton
David Futerman
Emilie Szasz-Frank
Tamika Mcauley Christopher(Appointed 17 November 2025)
Rachel Serene(Appointed 17 November 2025)
Auditors
Nagler Simmons
Chartered Accountants and Statutory Auditors
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
Page 4
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsof TheNewLondonSynagogueforthepurposesof companylaw) are
responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordancewith applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Companylaw requiresthe trusteesto preparefinancialstatementsfor each financialyear.Underthat law, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdom Generally
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Undercompanylaw the trusteesmustnot approvethe financialstatementsunlesstheyare satisfiedthat they
giveatrueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod. In
preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trusteesare responsiblefor keepingproperaccountingrecordswhichdisclosewith reasonableaccuracy at
anytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthe financial
statementscomplywiththeCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsof the
charitablecompanyand hencefor takingreasonablestepsfor the preventionand detectionof fraudand other
irregularities.
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 information and to establish that the auditors are aware of that information.
AUDITORS
Theauditors,NaglerSimmons,willbeproposedforre-appointmentattheforthcomingAnnual General
Meeting.
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,as the
company directors, on ............................................. and signed on the board's behalf by:
....................................................................
Mrs M Lennard - Trustee
Page 5
Report of the Independent Auditors to the Trustees of The New London Synagogue
Opinion
WehaveauditedthefinancialstatementsofTheNewLondonSynagogue(the'charitablecompany')for the
yearended31December2025whichcomprisetheStatementofFinancialActivities,theBalanceSheet, the
CashFlowStatementandnotestothefinancialstatements,includingasummaryofsignificant accounting
policies.Thefinancialreportingframeworkthathasbeenappliedintheirpreparationisapplicablelaw and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conductedour audit in accordancewith InternationalStandardson Auditing(UK) (ISAs (UK))and applicable
law.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfor the
auditofthefinancialstatementssectionofourreport.Weareindependentofthecharitablecompany in
accordancewiththeethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsin the UK,
includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilitiesin accordance with
theserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriate to
provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of
accounting in the preparation of the financial statements is appropriate.
Basedon the workwe haveperformed,we havenot identifiedany materialuncertaintiesrelatingto events or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sability to
continueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are
authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedin the
relevant sections of this report.
Page 6
Report of the Independent Auditors to the Trustees of
The New London Synagogue
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedin the Annual Report,otherthan the financialstatementsand our Reportof the Independent Auditors
thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connectionwith our audit of the financialstatements,our responsibilityis to read the other information and,
in doingso,considerwhethertheotherinformationis materiallyinconsistentwiththefinancialstatements or
ourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentify such
materialinconsistenciesor apparentmaterialmisstatements,we are requiredto determinewhetherthis gives
risetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have
performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequired to
report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand 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 returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explainedmorefullyin theStatementof Trustees'Responsibilities,thetrustees(whoarealsothe directors
ofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationof the
financialstatementsand forbeingsatisfiedthattheygivea trueand fairview,and forsuchinternalcontrol as
thetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's
abilityto continueas a goingconcern,disclosing,as applicable,mattersrelatedto goingconcernand using the
goingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyor to
cease operations, or have no realistic alternative but to do so.
Page 7
Report of the Independent Auditors to the Trustees of
The New London Synagogue
Our responsibilities for the audit of the financial statements
We have been appointedas auditorsunder Section144 of the CharitiesAct 2011and reportin accordance with
the Act and relevant regulations made or having effect thereunder.
Ourobjectivesare to obtainreasonableassuranceaboutwhetherthe financialstatementsas a wholeare free
frommaterialmisstatement,whetherdue to fraudor error,and to issuea Reportof the Independent Auditors
thatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethat an
auditconductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenit exists.
Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorinthe aggregate,
theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisof these
financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Becauseof the inherentlimitationsof an audit,thereis a risk that we will not detectall irregularities, including
thoseleadingtoamaterialmisstatementinthefinancialstatementsornon-compliancewithregulation. This
riskincreasesthemorethatcompliancewitha laworregulationis removedfromtheeventsand transactions
reflectedinthefinancialstatements,aswewillbelesslikelytobecomeawareoftheinstances of
non-compliance.Theriskisalsogreaterregardingirregularitiesregardingfraudratherthanerror,as fraud
involves intentional concealment, forgery, collusion, omission or misrepresentation.
Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.We design
proceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespect of
irregularities,includingfraud.Theextenttowhichourproceduresarecapableofdetecting irregularities,
including fraud is detailed below.
Wegainedanunderstandingofthelegalandregulatoryframeworkapplicabletothecharitablecompany and
the industryin whichit operatesand consideredthe riskof actsby the charitablecompanythatwere contrary
toapplicablelawsandregulations,includingfraud.Wedesignedauditprocedurestorespondtothe risk,
recognisingthattheriskofnotdetectingamaterialmisstatementduetofraudishigherthantheriskof not
detectingoneresultingfromerror,asfraudmayinvolvedeliberateconcealmentby,forexample,forgery or
intentional misrepresentations, or through collusion.
Wefocusedonlawsandregulationswhichcouldgiverisetoamaterialmisstatementinthe financial
statements.Ourtestsincludedagreeingthefinancialstatementdisclosurestounderlying supporting
documentationandenquirieswithmanagement.Thereareinherentlimitationsintheaudit procedures
describedaboveand,thefurtherremovednon-compliancewithlawsandregulationsisfromtheevents and
transactionsreflectedinthefinancialstatements,thelesslikelywewouldbecomeawareofit.Wedid not
identifyanykeyauditmattersrelatingtoirregularities,includingfraud.Asin allouraudits,wealso addressed
theriskofmanagementoverrideofinternalcontrols,includingtestingjournalsandevaluatingwhether there
wasevidenceofbiasbythetrusteesthatrepresentedariskofmaterialmisstatementduetofraud. We
performedanalyticalprocedurestoidentifyanyunusualorunexpectedrelationships.Wealso communicated
relevantidentifiedlawsandregulationsandpotentialfraudriskstoallengagementteammembers and
remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Page 8
Report of the Independent Auditors to the Trustees of The New London Synagogue
A furtherdescriptionof ourresponsibilitiesforthe auditof the financialstatementsis locatedon the Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionformspartof our
Report of the Independent Auditors.
Use of our report
Thisreportismadesolelytothecharitablecompany'strustees,asabody,inaccordancewithPart4of the
Charities(Accountsand Reports)Regulations2008.Our audit work has been undertakenso that we might state
to the charitablecompany'strusteesthosematterswe are requiredto stateto them in an auditors'report and
fornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to
anyoneotherthanthecharitablecompanyandthecharitablecompany'strusteesasabody,forour audit
work, for this report, or for the opinions we have formed.
for and on behalf of Nagler Simmons
Chartered Accountants and Statutory Auditors
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
Date: .............................................
Page 9
THE NEW LONDON SYNAGOGUE
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
846,875
Charitable activities
5
Synagogue operations
70,373
Education
65,256
Other trading activities
3
20,570
Investment income
4
22,359
Total
1,025,433
EXPENDITURE ON
Charitable activities
6
Synagogue operations
832,402
Education
46,940
Other
34,312
Total
913,654
Net gains on investments
124,967
NET INCOME/(EXPENDITURE)
236,746
Transfers between funds
18
46,000
Net movement in funds
282,746
RECONCILIATION OF FUNDS
Total funds brought forward
2,782,482
TOTAL FUNDS CARRIED
FORWARD
3,065,228 |
Restricted
funds
£
12,064
-
-
-
-
12,064
64,284
-
-
64,284
-
(52,220)
(46,000)
(98,220)
127,513
29,293 |
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
284,752
284,752 |
31.12.25
Total
funds
£
858,939
70,373
65,256
20,570
22,359
1,037,497
896,686
46,940
34,312
977,938
124,967
184,526
-
184,526
3,194,747
3,379,273 |
31.12.24
Total
funds
£
758,172
77,906
66,298
16,950
29,489
948,815
925,921
39,051
24,756
989,728
17,944
(22,969)
-
(22,969)
3,217,716
3,194,747 |
|
|
|
|
|
The notes form part of these financial statements
Page 10
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Balance Sheet
31 DECEMBER 2025
Unrestricted
funds
Notes
£
FIXED ASSETS
Intangible assets
13
1
Tangible assets
14
1,171,448
Investments
15
1,696,171
2,867,620
CURRENT ASSETS
Debtors
16
85,159
Cash at bank and in hand
293,285
378,444
CREDITORS
Amounts falling due within
one year
17
(180,836)
NET CURRENT ASSETS
197,608
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,065,228
NET ASSETS
3,065,228 |
Restricted
funds
£
-
-
-
-
-
29,293
29,293
-
29,293
29,293
29,293 |
Endowment
fund
£
-
284,752
-
284,752
-
-
-
-
-
284,752
284,752 |
31.12.25
Total
funds
£
1
1,456,200
1,696,171
3,152,372
85,159
322,578
407,737
(180,836)
226,901
3,379,273
3,379,273 |
31.12.24
Total
funds
£
1
1,399,366
1,565,377
2,964,744
113,916
380,876
494,792
(264,789)
230,003
3,194,747
3,194,747 |
|
|
|
|
|
The notes form part of these financial statements
continued...
Page 11
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Balance Sheet - continued
31 DECEMBER 2025
Unrestricted
Restricted
Endowment
funds
funds
fund
Notes
£
£
£
FUNDS
18
Unrestricted funds:
General fund
Buildings fund
Investments fund
Restricted funds:
Rabbi's dicretionary fund
Refugee drop in asylum centre
Education
Hardship funds
Kibbutz Nir Oz
Boiler fund
Security fund
Endowment funds:
Building fund - Endowment
TOTAL FUNDS |
31.12.25
Total
funds
£
445,731
923,326
1,696,171
3,065,228
13,892
1,081
7,186
6,100
184
-
850
29,293
284,752
3,379,273 |
31.12.24
Total
funds
£
292,708
924,397
1,565,377 |
|
|
2,782,482 |
|
|
12,534
54,843
7,186
6,100
-
46,000
850 |
|
|
127,513 |
|
|
284,752 |
|
|
3,194,747 |
Thecharitablecompanyis entitledtoexemptionfromauditunderSection477oftheCompaniesAct2006 for
the year ended 31 December 2025.
Themembershavenotdepositednotice,pursuanttoSection476oftheCompaniesAct2006requiring an
audit of these financial statements.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state 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 to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The notes form part of these financial statements
continued...
Page 12
THE NEW LONDON SYNAGOGUE (REGISTERED NUMBER: 07030491)
Balance Sheet - continued 31 DECEMBER 2025
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
M Lennard - Trustee
.............................................
B A Linden - Trustee
The notes form part of these financial statements
Page 13
THE NEW LONDON SYNAGOGUE
Cash Flow Statement
FOR THE YEAR ENDED 31 DECEMBER 2025
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period |
31.12.25
£
16,315
16,315
(91,145)
(877,273)
871,446
8,062
14,297
(74,613)
(58,298)
380,876
322,578 |
31.12.24
£
67,253
67,253
(136,917)
(12,860)
-
6,241
23,248
(120,288)
(53,035)
433,911
380,876 |
|
|
|
The notes form part of these financial statements
Page 14
THE NEW LONDON SYNAGOGUE
Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 DECEMBER 2025
1. |
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW |
FROM OPERATING |
ACTIVITIES |
|
|
31.12.25 |
31.12.24 |
|
|
£ |
£ |
|
Net income/(expenditure) for the reporting period (as per the |
|
|
|
Statement of Financial Activities) |
184,526 |
(22,969) |
|
Adjustments for: |
|
|
|
Depreciation charges |
34,311 |
24,756 |
|
Gain on investments |
(124,967) |
(17,944) |
|
Interest received |
(8,062) |
(6,241) |
|
Dividends received |
(14,297) |
(23,248) |
|
Decrease/(increase) in debtors |
28,757 |
(13,418) |
|
(Decrease)/increase in creditors |
(83,953) |
126,317 |
|
Net cash provided by operations |
16,315 |
67,253 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.1.25 |
Cash flow |
At 31.12.25 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
380,876 |
(58,298) |
322,578 |
|
380,876 |
(58,298) |
322,578 |
Total |
380,876 |
(58,298) |
322,578 |
The notes form part of these financial statements
Page 15
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,which is a public benefitentityunder FRS 102, have
beenpreparedin accordancewiththe CharitiesSORP(FRS102)'Accountingand Reportingby Charities:
Statementof RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicablein the UK
andRepublicofIreland'andtheCompaniesAct2006.Thefinancialstatementshavebeen prepared
underthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincludedat market
value, as modified by the revaluation of certain assets.
Thetrusteeshaveassessedwhethertheuseofthegoingconcernbasisisappropriate,and have
consideredpossibleeventsor conditionsthat might cast significantdoubt on the abilityof the charity to
continueas a goingconcern.Thetrusteeshavemadethisassessmentfora periodofat leastone year
fromthedateoftheapprovalofthesefinancialstatements,andhaveconcludedthatthereis a
reasonableexpectationthat the charityhas adequateresourcesto continuein operationalexistence for
theforeseeablefuture.Thecharitythereforeadoptsthegoingconcernbasisinpreparingits financial
statements.
Thefinancialstatementsarepreparedinsterling,whichisthefunctionalcurrencyofthe charity.
Monetary amounts in these financial statements are rounded to the nearest £.
Income
All incomeis recognisedin theStatementof FinancialActivitiesoncethecharityhas entitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligation committing
thecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequired in
settlementand the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on
an accrualsbasisand has beenclassifiedunderheadingsthataggregateall costrelatedto the category.
Wherecostscannotbedirectlyattributedtoparticularheadingstheyhavebeenallocatedto activities
on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Intangible fixed assets
Intangibleassetsarerecognisedatcostandaresubsequentlymeasuredatcostandhave subsequently
been fully amortised, leaving a notional value of £1 on the balance sheet.
Tangible fixed assets
Depreciationis providedat the followingannualratesin orderto writeoff each assetoverits estimated
useful life.
continued...
Page 16
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Tangiblefixedassetsforusebythecharityarestatedatcostlessdepreciation.Individualfixed assets
costing less than £2,000 are not capitalised.
Freehold buildings Straight line over 100 years
Fixtures, fittings and equipment 25% reducing balance and straight line over 20 years
Nodepreciationisprovidedonscrollsandsilverware,which,intheopinionofthetrusteeshave a
residual value not less than their cost.
Depreciationhas previouslybeen providedon freeholdland.The trusteeshave changedthe accounting
policythisyearto excludedepreciationon its freeholdland held at 29 GoldhurstTerrace,London, NW6
3HB which recognisesthat this will not wear out and its residualvaluationis likelyto be at least equal to
its cost.
Thecharity'ssynagoguebuildingat33AbbeyRoad,London,NW80ATisnowconsideredtobe fully
depreciated,andnofurtherdepreciationchargeisbeingmadeinrespectofthis.Nodepreciation is
provided on the building's stained glass windows as they are not considered likely to wear out.
As allowedby the CharitiesSORP,heritageassetshavenot beenrecognisedin the financial statements,
assignificantcostsareinvolvedinthereconstructionoranalysisofpastaccountingrecords,which are
onerouscomparedwithanyadditionalbenefitderivedfromrecognisingtheseassetsonthe balance
sheet.
Heritageassetsareassetsthatareofhistoricalorreligiousimportancethatareheldtofurther the
preservation,conservationandeducationalobjectivesofthesynagogueandcontributetoculture and
education.Theseassetsareintegraltotheactivitiesofthesynagogueandareuniqueintermsof their
religious and cultural significance.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
continued...
Page 17
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesona straight
line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedto theStatementof FinancialActivitiesin the period
to which they relate.
Fixed asset investments
Thecharitablecompanyonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyas basic
financialinstruments.Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalue and
subsequently measured at their market value through income and expenditure.
2.
DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
Membership donations
Donations
Gift Aid |
31.12.25
£
486,030
265,793
107,116
858,939 |
31.12.24
£
478,297
223,742
56,133 |
|
|
758,172 |
3. OTHER TRADING ACTIVITIES
OTHER TRADING ACTIVITIES |
|
|
|
31.12.25 |
31.12.24 |
|
£ |
£ |
Hall hire |
7,377 |
5,018 |
Event income |
13,193 |
11,932 |
|
20,570 |
16,950 |
continued...
Page 18
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
4.
INVESTMENT INCOME
Dividends received
Deposit account interest
Loan interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Synagogue
operations
£
Grants
17,627
Synagogue operations
52,746
70,373
Grants received, included in the above, are as follows:
CST grant
NCEJ |
Education
£
-
65,256
65,256 |
31.12.25
£
14,297
6,787
1,275
22,359
31.12.25
Total
activities
£
17,627
118,002
135,629
31.12.25
£
5,900
11,727
17,627 |
31.12.24
£
23,248
5,741
500
29,489
31.12.24
Total
activities
£
8,340
135,864
144,204
31.12.24
£
8,340
-
8,340 |
|
|
|
|
continued...
Page 19
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct
(see note
Costs
7)
£
£
Synagogue operations
463,454
(4,505)
Education
46,940
-
510,394
(4,505)
Direct costs
Staff costs
Burial fund
Asylum seekers expenses
Masorti Judaism subscription
L'Chaim and events expenses
Other expenditure
7.
GRANTS PAYABLE
Synagogue operations
The total grants paid to institutions during the year was as follows:
Kibbutz Nir Oz
UJIA
Seperated Child Foundation |
Direct
Costs
£
463,454
46,940
510,394 |
Grant
funding of
activities
(see note
7)
£
(4,505)
-
(4,505) |
|
Support
costs (see
note 8)
£
437,737
-
437,737 |
|
Totals
£
896,686
46,940
943,626 |
|
|
|
|
|
|
|
|
|
|
31.12.25 |
|
|
31.12.24 |
|
|
|
£ |
|
|
£ |
|
|
|
227,487 |
|
|
238,661 |
|
|
|
64,585 |
|
|
76,967 |
|
|
|
57,663 |
|
|
73,013 |
|
|
|
45,207 |
|
|
43,565 |
|
|
|
89,290 |
|
|
85,617 |
|
|
|
26,162 |
|
|
22,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
510,394 |
|
|
540,633 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.12.25
£
(4,505)
31.12.25
£
512
(6,388)
1,371
(4,505) |
|
|
31.12.24
£
9,989
31.12.24
£
3,601
6,388
-
9,989 |
continued...
Page 20
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
8. SUPPORT COSTS
|
Support |
Governance |
Total |
Support |
Governance |
Total |
|
costs |
costs |
2025 |
costs |
costs |
2024 |
|
£ |
£ |
£ |
£ |
£ |
£ |
Staff costs |
236,699 |
19,180 |
255,879 |
220,419 |
19,919 |
240,338 |
Postage and
stationery |
4,868 |
- |
4,868 |
5,463 |
- |
5,463 |
Advertising |
13,580 |
- |
13,580 |
11,061 |
- |
11,061 |
Security costs |
25,572 |
- |
25,572 |
23,515 |
- |
23,515 |
Premises costs |
82,121 |
- |
82,121 |
78,335 |
- |
78,335 |
Administrative
expenses |
29,228 |
2,674 |
31,902 |
30,747 |
2,151 |
32,898 |
Professional fees |
- |
11,315 |
11,315 |
- |
10,546 |
10,546 |
Audit fees |
- |
12,500 |
12,500 |
- |
12,600 |
12,600 |
|
|
|
|
|
|
|
|
392,068 |
45,669 |
437,737 |
369,540 |
45,216 |
414,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
31.12.25 |
31.12.24 |
|
£ |
£ |
Auditors' remuneration |
12,500 |
12,600 |
Depreciation - owned assets |
34,311 |
24,756 |
Other operating leases |
3,224 |
4,726 |
continued...
Page 21
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
10. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2025nor for
the year ended 31 December 2024.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2025norfortheyear ended
31 December 2024.
11. STAFF COSTS
STAFF COSTS |
|
|
Wages and salaries
Social security costs
Other pension costs |
31.12.25
£
437,881
36,690
8,795
483,366 |
31.12.24
£
436,187
33,724
8,682 |
|
|
478,593 |
The average monthly number of employees during the year was as follows:
|
31.12.25 |
31.12.24 |
Religious |
4 |
4 |
Admin |
5 |
5 |
Education |
5 |
4 |
|
14 |
13 |
Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts) exceeded
£60,000 was:
£100,000 - £110,000
Noneoftheemployeeswhoseemolumentsexceed£60,000haveretirementbenefitsaccruing under
defined benefit pension schemes.
Key management personnel
Thekeymanagementpersonnelofthetrustcomprisethetrustees,RabbiGordonand operational
manager.Thetotalamountofofemployeebenefits(includingemployerpension contributions)
receivedbykeymanagementpersonnelfortheirservicestothetrustwas£199,442 (2024:
£192,544).
continued...
Page 22
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Synagogue operations
Education
Other trading activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Synagogue operations
Education
Other
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
666,419
77,906
66,298
16,950
29,489
857,062
841,597
39,051
24,756
905,404
17,944
(30,398)
(1,246)
(31,644)
2,814,126
2,782,482 |
Restricted
funds
£
91,753
-
-
-
-
91,753
84,324
-
-
84,324
-
7,429
961
8,390
119,123
127,513 |
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
285
285
284,467
284,752 |
Total
funds
£
758,172
77,906
66,298
16,950
29,489
948,815
925,921
39,051
24,756
989,728
17,944
(22,969)
-
(22,969)
3,217,716
3,194,747 |
|
|
|
|
|
continued...
Page 23
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
13. INTANGIBLE FIXED ASSETS
INTANGIBLE FIXED ASSETS |
|
|
Indefinite |
|
access |
|
£ |
COST |
|
At 1 January 2025 and |
|
31 December 2025 |
5,000 |
AMORTISATION |
|
At 1 January 2025 and |
|
31 December 2025 |
4,999 |
NET BOOK VALUE |
|
At 31 December 2025 |
1 |
At 31 December 2024 |
1 |
ThisrelatestoopenspacethatusedtobeheldbyNewLondonSynagogueandwassubsequently sold.
An agreementwasmadethattheareacouldbe usedforsuccahand thereforeNewLondon Synagogue
has indefinite access to this area.
14. TANGIBLE FIXED ASSETS
COST
At 1 January 2025
Additions
At 31 December 2025
DEPRECIATION
At 1 January 2025
Charge for year
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024 |
Freehold
property
£
1,603,347
-
1,603,347
394,202
1,071
395,273
1,208,074
1,209,145 |
Fixtures,
fittings
and
equipments
£
306,140
91,145
397,285
115,919
33,240
149,159
248,126
190,221 |
Totals
£
1,909,487
91,145 |
|
|
|
2,000,632 |
|
|
|
510,121
34,311 |
|
|
|
544,432 |
|
|
|
1,456,200 |
|
|
|
1,399,366 |
continued...
Page 24
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
14. TANGIBLE FIXED ASSETS - continued
Thecompanyisthebeneficialownerofa50.94%shareofthefreeholdpropertysituatedat 29
GoldhurstTerrace,LondonNW6 3HB.The other49.06%shareof the freeholdpropertyis held by Rabbi
Jeremy Gordon and Mrs Josephine Gordon.
The propertyis subjectto a mortgage,the entire responsibilityfor which rests (as betweenthe company
andRabbiandMrsGordon)exclusivelywithRabbiandMrsGordon,whohaveundertakentokeep the
Company fully indemnified.
The title to the Synagoguebuildingat 33 Abbey Road is held by FlanpropCo. Ltd, as a nomineeon behalf
ofTheNewLondonSynagogue.Thisisadormantcompany,setupspecificallytoholdtheproperty on
behalf of the Synagogue.
Heritageassetsheldbythecharityincludesilver,SifreiTorahandotherassetsofreligious significance.
These are not valued or included in the financial statements.
15. FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2025
Additions
Disposals
Revaluations
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024 |
Quoted
investments
£
1,565,377
877,273
(835,900)
89,421
1,696,171
1,696,171
1,565,377 |
|
|
Investments are stated at fair value using published market prices at the balance sheet date.
continued...
Page 25
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
15. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31st December 2025 is represented by:
|
|
Quoted |
Quoted |
|
|
investments |
|
|
|
|
£
1,360,343
335,828
1,696,171
31.12.24
£
-
-
-
31.12.24
£
-
17,944
17,944 |
Cost |
|
|
|
Valuation |
|
|
|
|
|
|
|
|
|
|
|
Fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.12.25 |
|
|
|
£ |
|
|
Reconciliation of disposal proceeds: |
|
|
|
Carrying value of investments sold |
835,900 |
|
|
Realised gains on disposals |
35,546 |
|
|
|
|
|
|
|
871,446 |
|
|
|
|
|
|
|
|
|
|
|
31.12.25 |
|
|
|
£ |
|
|
Analysis of net gains on investments: |
|
|
|
Realised gains on disposals |
35,546 |
|
|
Unrealised revaluation gains |
89,421 |
|
|
|
|
|
|
|
124,967 |
|
|
|
|
|
|
continued...
Page 26
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
16.
DEBTORS
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Other debtors
Aggregate amounts
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
DEFERRED INCOME
Deferred income at 1 January
Resources deferred in the period
Amount released from previous periods
Deferred income at 31 December
Deferred income comprises the following:
L'Chaim and Cheder |
31.12.25
£
28,584
44,351
72,935
12,224
85,159
31.12.25
£
57,724
-
7,280
115,832
180,836 |
|
31.12.24
£
55,551
37,390
92,941
20,975
113,916
31.12.24
£
150,697
(9)
51,097
63,004
264,789 |
|
|
|
|
|
31.12.25 |
31.12.24
£
34,507
30,804
(34,507)
30,804
30,804
30,804 |
|
|
£ |
|
|
|
30,804 |
|
|
|
31,471 |
|
|
|
(30,804) |
|
|
|
|
|
|
|
31,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,471 |
|
|
|
|
|
|
|
31,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 27
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
18. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Buildings fund
Investments fund
Restricted funds
Rabbi's dicretionary fund
Refugee drop in asylum centre
Education
Hardship funds
Kibbutz Nir Oz
Boiler fund
Security fund
Endowment funds
Building fund - Endowment
TOTAL FUNDS |
At 1.1.25
£
292,708
924,397
1,565,377
2,782,482
12,534
54,843
7,186
6,100
-
46,000
850
127,513
284,752
3,194,747 |
Net
movement
in funds
£
107,023
(1,071)
130,794
236,746
1,358
(53,762)
-
-
184
-
-
(52,220)
-
184,526 |
Transfers
between
funds
£
46,000
-
-
46,000
-
-
-
-
-
(46,000)
-
(46,000)
-
- |
At
31.12.25
£
445,731
923,326
1,696,171 |
|
|
|
|
3,065,228
13,892
1,081
7,186
6,100
184
-
850 |
|
|
|
|
29,293
284,752 |
|
|
|
|
3,379,273 |
continued...
Page 28
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Buildings fund
Investments fund
Restricted funds
Rabbi's dicretionary fund
Refugee drop in asylum centre
Kibbutz Nir Oz
TOTAL FUNDS |
Incoming
resources
£
1,019,231
-
6,202
1,025,433
7,979
3,901
184
12,064
1,037,497 |
Resources
expended
£
(912,208)
(1,071)
(375)
(913,654)
(6,621)
(57,663)
-
(64,284)
(977,938) |
Gains and
losses
£
-
-
124,967
124,967
-
-
-
-
124,967 |
Movement
in funds
£
107,023
(1,071)
130,794
236,746
1,358
(53,762)
184
(52,220)
184,526 |
|
|
|
|
|
continued...
Page 29
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Buildings fund
Investments fund
Restricted funds
Rabbi's dicretionary fund
Refugee drop in asylum centre
Education
Hardship funds
Kibbutz Nir Oz
Boiler fund
Security fund
Endowment funds
Building fund - Endowment
TOTAL FUNDS |
At 1.1.24
£
354,085
925,468
1,534,573
2,814,126
12,197
96,116
2,106
6,100
2,604
-
-
119,123
284,467
3,217,716 |
Net
movement
in funds
£
(60,131)
(1,071)
30,804
(30,398)
337
(41,273)
5,080
-
(3,565)
46,000
850
7,429
-
(22,969) |
Transfers
between
funds
£
(1,246)
-
-
(1,246)
-
-
-
-
961
-
-
961
285
- |
At
31.12.24
£
292,708
924,397
1,565,377 |
|
|
|
|
2,782,482
12,534
54,843
7,186
6,100
-
46,000
850 |
|
|
|
|
127,513
284,752 |
|
|
|
|
3,194,747 |
continued...
Page 30
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Buildings fund
Investments fund
Restricted funds
Rabbi's dicretionary fund
Refugee drop in asylum centre
Education
Kibbutz Nir Oz
UJIA
Boiler fund
Security fund
TOTAL FUNDS |
Incoming
resources
£
844,202
-
12,860
857,062
3,239
31,373
5,080
36
5,175
46,000
850
91,753
948,815 |
Resources
expended
£
(904,333)
(1,071)
-
(905,404)
(2,902)
(72,646)
-
(3,601)
(5,175)
-
-
(84,324)
(989,728) |
Gains and
Movement
losses
in funds
£
£
-
(60,131)
-
(1,071)
17,944
30,804
17,944
(30,398)
-
337
-
(41,273)
-
5,080
-
(3,565)
-
-
-
46,000
-
850
-
7,429
17,944
(22,969) |
|
|
|
|
19. RELATED PARTY DISCLOSURES
FlanpropCo.Limitedisacompanyinwhichatrusteehassignificantinfluence.Thiscompanyis the
registeredownerofthesynagogueandholdsthetitledeedsasnominee.Theentirebeneficial interest
inthepropertyremainswiththecharity.Duringthepreviousyear,FlanpropCo.Limited was
inadvertentlydissolvedand as a consequence,legal title to the propertyis currentlyvestedin the Crown
asbonavacantia.AnapplicationfortherestorationofFlanpropCo.Limitedisduetobemade.It is
anticipatedthat restorationwill be granted,at which point the companywill be treatedas if it had never
been dissolved and legal title will revert to Flanprop Co. Limited as nominee for the charity.
Thecharityalsojointlyownsa 50.94%shareof thepropertywhichis usedas RabbiGordon's residence
(withtheremaining49.06%heldbyRabbiGordonandhisfamilyinterest).Thisproportionis deemed
proportionatetotheproperty'suseforcharitablepurposesandwillbe theproportionofthesale price
ofthepropertyrecoupedatthepointRabbiGordonceaseshisemploymentoriftheproperty is
otherwisesold. The originalcost of the charity'sshare of the property,includedin the accountsin 2010,
was £1,250,000.
continued...
Page 31
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2025
19. RELATED PARTY DISCLOSURES - continued
In 2024,a mortgageloansecuredontheabovepropertywasadvancedtoRabbiGordon,a member of
keymanagementpersonnel.Thesefunds,amountingto£32,000andsubjecttointerestat5% per
annum(beingtheaveragerateofferedinthemarket),wereusedtorepaytheexistingmortgage, no
thirdpartymortgagebeingavailabledue to the jointownershipstructure.The mortgageis being repaid
over a four year period.At the year end, the outstandingbalance was £20,975(2024:£29,300),of which
£8,751(2024:£8,325)isduewithinoneyear.Interestof£1,275(2024:£500)wasearnedduring the
year.
Therewerenootherrelatedpartydisclosuresfortheyearended31December2025norforthe year
ended 31 December 2024.
20. DETAILS OF RESTRICTED FUNDS
EducationFund- toprovideeducationforthewholecommunity,includingCheder,L'Chaim conversion
courses and adult education.
RefugeeDropin AsylumCentre- funds to supportthe runningof a monthlydrop-infor destitute asylum
seekers.
Rabbis' Discretionary Fund - donated to the Synagogue for the rabbis to disburse at their discretion.
Boiler Fund - donations to provide installation of a new boiler for the synagogue
Security Fund - donations to support work to be carried out on the synagogue's security.
Hardship Fund - donations to assist those in need.
Kibbutz Nir Oz Fund - donations to support the victims of Kibbutz Nir Oz.
UJIA - donations to a UK charity working to connect young Jews with Israel and Judaism.
continued...
Page 32
THE NEW LONDON SYNAGOGUE
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2025
21. DETAILS OF UNRESTRICTED DESIGNATED FUNDS
Investment Fund - designated as investments of the synagogue.
Building Fund - the net book value of the property at 29 Goldhurst Terrace.
22. PERMANENT BUILDING FUND (PERMANENT ENDOWMENT)
ThePermanentEndowmentFundrelatestothepurchaseoftheoriginalsynagoguelandand buildings
and stained glass windows.
Page 33