REGISTERED COMPANY NUMBER: 01073220 (England and Wales) REGISTERED CHARITY NUMBER: 1142879
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
FOR
BETH ABRAHAM SYNAGOGUE LIMITED
STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND
BETH ABRAHAM SYNAGOGUE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
BETH ABRAHAM SYNAGOGUE LIMITED (REGISTERED NUMBER: 01073220)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 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 August 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objectives of the charity are:
- To advance and promote the practice and teaching of traditional Judaism and in particular by undertaking the continuance of the Synagogue known as the Beth Abraham Synagogue at present at 46 The Ridgeway London NW11, and by holding religious services, lectures and classes, and by employing such staff as the trustees consider necessary for the furtherance of the company's objectives and aims. - To raise and distribute funds for the relief of poverty.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Significant activities
The charity administers the Beth Abraham Synagogue and ensures that it is managed in a legal, correct and efficient manner. The Synagogue caters for the need of traditional members of the Jewish faith. It is open every day of the year for organised prayer, and public and private learning. It organises cultural and social events and provides social welfare for those in need.
The Synagogue receives subscriptions and donations from those who wish to become members but all its facilities and services are available at no cost to anyone who wishes to utilise them.
The charity is responsible for all financial aspects of the Synagogue, both income and expenditure, and ensures the upkeep of the Synagogue building.
The charity also collects donations and distributes them to aid poverty and and to further education for deserving individuals and organisations.
FINANCIAL REVIEW
Reserves policy
The trustees have reviewed the reserves of the charity whose policy is to try to retain sufficient funds to meet all foreseeable expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee not having a share capital. It is registered with the Charity Commission (Charity Registration number 1142879).
The charity's governing instruments are its Memorandum and Articles of Association, dated 22 September 1972.
Recruitment and appointment of new trustees
New trustees are recruited and appointed by the existing trustees as required.
Organisational structure
The overall management of the charity is vested in the trustees, who regularly meet to discuss and review the charity's activities, and are assisted in their decisions by the Rabbi of the Synagogue.
Induction and training of new trustees
Any new appointment of trustees will be followed by suitable induction and training to ensure the new trustees understand the nature of the charity and their responsibilities.
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BETH ABRAHAM SYNAGOGUE LIMITED (REGISTERED NUMBER: 01073220)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Wider network
The charity is not part of a wider network.
Related parties
There are no related parties.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01073220 (England and Wales)
Registered Charity number 1142879
Registered office
8 Rodborough Road London NW11 8RY
Trustees
W S Gilbert I Heitner
Company Secretary D Gilbert
Independent Examiner
S D Stern STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND
Approved by order of the board of trustees on 25 May 2021 and signed on its behalf by:
W S Gilbert - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BETH ABRAHAM SYNAGOGUE LIMITED
Independent examiner's report to the trustees of Beth Abraham Synagogue Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to 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.
S D Stern STERN ASSOCIATES Chartered Accountants 2 Helenslea Avenue London NW11 8ND
25 May 2021
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BETH ABRAHAM SYNAGOGUE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 35,864 Investment income 2 45,841 Total 81,705 EXPENDITURE ON Raising funds 3 - Charitable activities Advancement and promotion of traditional Judaism 84,374 Relief of poverty 1,690 Total 86,064 NET INCOME/(EXPENDITURE) (4,359) RECONCILIATION OF FUNDS Total funds brought forward 766,423 TOTAL FUNDS CARRIED FORWARD 762,064 |
Restricted fund £ - - - - - - - - 200 200 |
31.8.20 Total funds £ 35,864 45,841 81,705 - 84,374 1,690 86,064 (4,359) 766,623 762,264 |
31.8.19 Total funds £ 39,291 34,955 |
|---|---|---|---|
| 74,246 345 54,974 15,409 |
|||
| 70,728 | |||
| 3,518 763,105 |
|||
| 766,623 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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BETH ABRAHAM SYNAGOGUE LIMITED (REGISTERED NUMBER: 01073220)
BALANCE SHEET 31 AUGUST 2020
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
31.8.20 £ 552,790 1,070 218,336 219,406 (9,932) 209,474 762,264 762,264 762,064 200 762,264 |
31.8.19 £ 550,240 1,000 223,189 224,189 (7,806) 216,383 766,623 766,623 766,423 200 766,623 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
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.
The notes form part of these financial statements
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BETH ABRAHAM SYNAGOGUE LIMITED (REGISTERED NUMBER: 01073220)
BALANCE SHEET - continued 31 AUGUST 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 25 May 2021 and were signed on its behalf by:
W S Gilbert - Trustee
I Heitner - Trustee
The notes form part of these financial statements
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BETH ABRAHAM SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 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, as modified by the revaluation of certain assets.
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 cost 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Plant and machinery - 15% on 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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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BETH ABRAHAM SYNAGOGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020
2. INVESTMENT INCOME
| Rents received Deposit account interest 3. RAISING FUNDS Investment management costs Council tax 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.8.20 £ 45,818 23 45,841 31.8.20 £ - 31.8.20 £ 5,787 |
31.8.19 £ 34,927 28 |
|---|---|---|
| 34,955 | ||
| 31.8.19 £ 345 31.8.19 £ 5,337 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.8.20 | 31.8.19 | |
|---|---|---|
| Employees | 1 | 1 |
No employees received emoluments in excess of £60,000.
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BETH ABRAHAM SYNAGOGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020
7. TANGIBLE FIXED ASSETS
| COST At 1 September 2019 Additions At 31 August 2020 DEPRECIATION At 1 September 2019 Charge for year At 31 August 2020 NET BOOK VALUE At 31 August 2020 At 31 August 2019 |
Freehold property £ 520,000 - 520,000 - - - 520,000 520,000 |
Plant and machinery £ 154,131 8,337 162,468 123,891 5,787 129,678 32,790 30,240 |
Totals £ 674,131 8,337 |
|---|---|---|---|
| 682,468 | |||
| 123,891 5,787 |
|||
| 129,678 | |||
| 552,790 | |||
| 550,240 |
Included in cost or valuation of land and buildings is freehold land of £520,000 (2019 - £520,000) which is not depreciated.
The freehold property was valued on an open market basis on 16 May 2000 by Julian Teff & Co. Chartered Surveyors.
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted funds fund £ £ Fixed assets 552,790 - Current assets 219,206 200 Current liabilities (9,932) - 762,064 200 |
31.8.20 £ 1,070 31.8.20 £ 5,132 4,800 9,932 31.8.20 Total funds £ 552,790 219,406 (9,932) 762,264 |
31.8.19 £ 1,000 31.8.19 £ 5,133 2,673 7,806 31.8.19 Total funds £ 550,240 224,189 (7,806 |
|---|---|---|
| 766,623 |
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BETH ABRAHAM SYNAGOGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Revaluation reserve Restricted funds Poverty relief TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Revaluation reserve Restricted funds Poverty relief TOTAL FUNDS |
At 1.9.19 £ 502,934 263,489 766,423 200 766,623 Incoming resources £ 81,705 81,705 At 1.9.18 £ 499,574 263,489 763,063 42 763,105 |
Net movement At in funds 31.8.20 £ £ (4,359) 498,575 - 263,489 (4,359) 762,064 - 200 (4,359) 762,264 Resources Movement expended in funds £ £ (86,064) (4,359) (86,064) (4,359) Net movement At in funds 31.8.19 £ £ 3,360 502,934 - 263,489 3,360 766,423 158 200 3,518 766,623 |
|---|---|---|
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BETH ABRAHAM SYNAGOGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 72,896 | (69,536) | 3,360 |
| Restricted funds | |||
| Poverty relief | 1,350 | (1,192) | 158 |
| TOTAL FUNDS | 74,246 | (70,728) | 3,518 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Revaluation reserve Restricted funds Poverty relief TOTAL FUNDS |
At 1.9.18 £ 499,574 263,489 763,063 42 763,105 |
Net movement in funds £ (999) - (999) 158 (841) |
At 31.8.20 £ 498,575 263,489 |
|---|---|---|---|
| 762,064 200 |
|||
| 762,264 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 154,601 | (155,600) | (999) |
| Restricted funds | |||
| Poverty relief | 1,350 | (1,192) | 158 |
| TOTAL FUNDS | 155,951 | (156,792) | (841) |
The poverty relief fund, which is a Restricted fund, is used for collection and distribution of monies for the relief of poverty.
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BETH ABRAHAM SYNAGOGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020
12. RELATED PARTY DISCLOSURES
No transactions between the charity and related parties have occurred during the period under review, other than routine transactions pursuant to the charity's normal activities, separate disclosure of which is not required.
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