COMPANY REGISTRATION NUMBER: 07604409 CHARITY REGISTRATION NUMBER: 1144272
Cong. D'Satmar Limited Company Limited by Guarantee Unaudited Financial Statements
30 September 2023
WHITESIDE AND DAVIES LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Cong. D'Satmar Limited
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2023
| Pages | Pages | |
|---|---|---|
| Trustees' annual report (incorporating the director's report) | 1 | to 2 |
| Independent examiner's report to the trustees | 3 | |
| Statement of financial activities (including income and | ||
| expenditure account) | 4 | |
| Statement of financial position | 5 | |
| Notes to the financial statements | 6 to 11 | |
| The following pages do not form part of the financial statements | ||
| Detailed statement of financial activities | 13 |
Cong. D'Satmar Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2023.
Reference and administrative details
Registered charity name
Cong. D'Satmar Limited
Charity registration number 1144272 Company registration number 07604409 Principal office and registered 158 Cromwell Road office Salford M6 6DE
The trustees
Mr Y Grossberger Mr M Manuel Ekstein Mr M Taub
Independent examiner David Pollak 158 Cromwell Road Salford M6 6DE
Structure, governance and management
Cong. D'Satmar Ltd is a company limited by guarantee incorporated on 14 April 2011 and is governed by its memorandum and articles of association. The directors/trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/trustees meetings.
Objectives and activities
a. Provision of a synagogue and a place of religious study for the orthodox Jewish community. b. Relief of poverty and any other projects advancing the orthodox Jewish religion c. The advancement of education in England
d. General charitable activities.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
1
Cong. D'Satmar Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2023
Achievements and performance
During the year the charity received donations totalling £140,381 (2022 - £148,696). With these funds the charity was able to maintain its synagogue and provide donations, bursaries and make other payments to students and researchers whose work the Trustees consider will be conducive to and in accordance with the charity's objects. Amounts given in donations and bursaries totalled £22,700 (2022 - £40,658).
Financial review
Reserves policy
The charity holds reserves in order to ensure that it can maintain the level of support that it is currently providing to the community in which it operates.
Risk Management
The process of examining the risks to which the Charity is exposed is ongoing and the trustees are planning to further develop systems to monitor and control these risks in order to lessen their potential impact on the Charity.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.
The trustees' annual report was approved on 27 June 2024 and signed on behalf of the board of trustees by:
Mr Y Grossberger Trustee
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Cong. D'Satmar Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cong. D'Satmar Limited
Year ended 30 September 2023
I report to the trustees on my examination of the financial statements of Cong. D'Satmar Limited ('the charity') for the year ended 30 September 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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.
David Pollak Independent Examiner
158 Cromwell Road Salford M6 6DE
3
Cong. D'Satmar Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 140,381 | 140,381 | 148,696 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 140,381 | 140,381 | 148,696 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 6 | (6,914) | (6,914) | (8,011) |
| Expenditure on charitable activities | 7,8 | (132,021) | (132,021) | (138,399) |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | (138,935) | (138,935) | (146,410) | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 1,446 | 1,446 | 2,286 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 97,961 | 97,961 | 95,675 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 99,407 | 99,407 | 97,961 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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Cong. D'Satmar Limited
Company Limited by Guarantee
Statement of Financial Position
30 September 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 14 | 85,501 | 93,589 |
| Current assets | |||
| Debtors | 15 | 2,500 | 2,500 |
| Cash at bank and in hand | 12,306 | 2,772 | |
| ---------------------------- | ----------------------- | ||
| 14,806 | 5,272 | ||
| Creditors: amounts falling due within one year | 16 | 900 | 900 |
| ---------------------------- | ----------------------- | ||
| Net current assets | 13,906 | 4,372 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 99,407 | 97,961 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 99,407 | 97,961 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 99,407 | 97,961 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 17 | 99,407 | 97,961 |
| ============================ | ============================ |
For the year ending 30 September 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 27 June 2024, and are signed on behalf of the board by:
Mr Y Grossberger Trustee
The notes on pages 6 to 11 form part of these financial statements.
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Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 158 Cromwell Road, Salford, M6 6DE.
2. Statement of compliance
Cong. D'Satmar Ltd is a company limited by guarantee incorporated on 14 April 2011 and is governed by its memorandum and articles of association. The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/trustee’s meetings.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
7
Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 15% reducing balance |
|---|---|---|
| Motor vehicles | - | 15% reducing balance |
| Equipment | - | 15% reducing balance |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Limited by guarantee
The organisation is a charitable company limited by guarantee, in the event of the company being wound up members are required to contribute an amount not exceeding £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Voluntary Donations | 140,381 | 140,381 | 148,696 | 148,696 |
| ================================ | ================================ | ================================ | ================================ |
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Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
6. Costs of raising donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies | 6,914 | 6,914 | 8,011 | 8,011 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 7. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Synagogue functions and sundry | 108,081 | 108,081 | 96,494 | 96,494 | |
| Grants and donations given | 22,700 | 22,700 | 40,658 | 40,658 | |
| Support costs | 1,240 | 1,240 | 1,247 | 1,247 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 132,021 | 132,021 | 138,399 | 138,399 | ||
| ================================ | ================================ | ================================ | ================================ | ||
| 8. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Synagogue functions and sundry | 108,081 | – | 108,081 | 96,494 | |
| Grants and donations given | 22,700 | – | 22,700 | 40,658 | |
| Governance costs | – | 1,240 | 1,240 | 1,247 | |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| 130,781 | 1,240 | 132,021 | 138,399 | ||
| ================================ | ======================= | ================================ | ================================ | ||
| 9. | Analysis of grants | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Yeshiva Gedola D'London | – | 4,600 | |||
| Grants under £1,000 | 750 | 600 | |||
| -------------- | ----------------------- | ||||
| 750 | 5,200 | ||||
| Grants to individuals | |||||
| Relief of poverty | 21,950 | 29,458 | |||
| Educational grants | – | 6,000 | |||
| ---------------------------- | ---------------------------- | ||||
| 21,950 | 35,458 | ||||
| ---------------------------- | ---------------------------- | ||||
| Total grants | 22,700 | 40,658 | |||
| ============================ | ============================ |
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Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
10. Net income
| Net income is stated after charging/(crediting): | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 15,088 | 16,515 | |
| ============================ | ============================ | ||
| 11. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 900 | 900 | |
| Other financial services | 340 | – | |
| ----------------------- | -------------- | ||
| 1,240 | 900 | ||
| ======================= | ============== |
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 38,274 | 32,340 |
| ============================ | ============================ | |
| The average head count of employees during the year was 7 (2022: 15). The average number of | ||
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Researchers | 6 | 14 |
| Administration | 1 | 1 |
| -------------- | -------------- | |
| 7 | 15 | |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
14. Tangible fixed assets
| Fixtures and | Motor | ||||
|---|---|---|---|---|---|
| fittings | vehicles | Books | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 October 2022 | 233,174 | 9,508 | 82,116 | 324,798 | |
| Additions | – | – | 7,000 | 7,000 | |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | ||
| At 30 September 2023 | 233,174 | 9,508 | 89,116 | 331,798 | |
| ================================ | ======================= | ============================ | ================================ | ||
| Depreciation | |||||
| At 1 October 2022 | 176,093 | 5,288 | 49,828 | 231,209 | |
| Charge for the year | 8,562 | 633 | 5,893 | 15,088 | |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | ||
| At 30 September 2023 | 184,655 | 5,921 | 55,721 | 246,297 | |
| ================================ | ======================= | ============================ | ================================ | ||
| Carrying amount | |||||
| At 30 September 2023 | 48,519 | 3,587 | 33,395 | 85,501 | |
| ================================ | ======================= | ============================ | ================================ | ||
| At 30 September 2022 | 57,081 | 4,220 | 32,288 | 93,589 | |
| ================================ | ======================= | ============================ | ================================ | ||
| 15. | Debtors | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other debtors | 2,500 | 2,500 | |||
| ======================= | ======================= | ||||
| 16. | Creditors: amounts falling due | within one year | |||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Accruals and deferred income | 900 | 900 | |||
| ============== | ============== | ||||
| 17. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At | At | ||||
| 1 October 20 | 30 Septemb | ||||
| 22 | Income | Expenditure | er 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 97,961 | 140,381 | (138,935) | 99,407 |
|
| ============================ | ================================ | ================================ | ============================ | ||
| At | At | ||||
| 1 October 20 | 30 Septembe | ||||
| 21 | Income | Expenditure | r 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 95,675 | 148,696 | (146,410) | 97,961 |
|
| ============================ | ================================ | ================================ | ============================ |
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Cong. D'Satmar Limited
Company Limited by Guarantee
Management Information
Year ended 30 September 2023
The following pages do not form part of the financial statements.
12
Cong. D'Satmar Limited
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 30 September 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Voluntary Donations | 140,381 | 148,696 |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 140,381 | 148,696 |
| ================================ | ================================ | |
| Expenditure | ||
| Costs of raising donations and legacies | ||
| Fundraising costs | 6,914 | 8,011 |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | ||
| Wages and salaries | 38,274 | 32,340 |
| Repairs and maintenance | 1,894 | – |
| Other motor/travel costs | 13,443 | 14,141 |
| Legal and professional fees | 1,240 | 1,247 |
| Other office costs | 1,434 | 2,774 |
| Depreciation | 15,088 | 16,515 |
| Other interest payable and similar charges | 142 | 101 |
| Religious activities and refreshments | 60,506 | 71,281 |
| -------------------------------- | -------------------------------- | |
| 132,021 | 138,399 | |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 138,935 | 146,410 |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| Net income | 1,446 | 2,286 |
| ================================ | ================================ |
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