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← Chabad Lubavitch South East Counties Ltd

2024-05-31-accounts

COMPANY REGISTRATION NUMBER: 07652293 CHARITY REGISTRATION NUMBER: 1144438

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 31 MAY 2024

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024 TABLE OF CONTENTS

Trustees annual report

Page
Company information 3
Trustees’ annual report (for company law purposes the directors’ report) 4-8
Independent examiner’s report to the trustees 9
Statement of comprehensive financial activities 10
Statement of financial position 11-12
Notes to the financial statements 13-20

2

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024 COMPANY INFORMATION

Name: Chabad Lubavitch South East Counties Ltd Charity Registration number: 1144438 Company registration number: 07652293 Registered office: Chabad House 14 Richmond Terrace Brighton BN2 9SA Trustees: Rabbi P Efune Rabbi S R Lewis Rabbi Y A J Angyalfi

For company law purposes the Trustees are also the Company directors and the Company members.

Rabbinic Team: Rabbi S Z Lewis Rebbetzin S S Lewis Independent Examiner: Shaya Grosskopf FCA 1g Accountants Churchill House 137-139 Brent Street London NW4 4DJ

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024

TRUSTEES’ ANNUAL REPORT (DIRECTORS’ REPORT)

The trustees, who are also the directors for the purposes of the Companies Act 2006, present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.

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 2015).

OBJECTIVES AND ACTIVITIES

The principal activities of the Charity are to advance Orthodox Judaism as expounded by the teachings of ChabadLubavitch and to advance the understanding of Judaism.

The charity provides a range of educational and social resources to further its principle objectives, primarily but not exclusively for the benefit of Jewish students and students of other faiths, in Brighton and the South East Counties.

Chabad, with its acronym for the Hebrew terms of Chochma – Wisdom, Binah – Understanding, and Da’at – Knowledge, emphasises Jewish engagement through Torah study, both of traditional Jewish thought and Chassidism, and through the practical performance of Mitzvot. The Charity provides educational offerings geared to making Judaism intellectually stimulating, meaningful, engaging and relatable to young adults in the modern world.

Consistent with the strong emphasis within the Chabad-Lubavitch movement of living by the Biblical adage “Love your fellow as yourself”, the Charity maintains a welcoming and non-discriminatory open door policy to all Jewish students. Further to this aim, the Charity seeks to ensure the holistic wellbeing of its members, providing a range of support services to enable students to succeed materially, emotionally and spiritually while at university.

The charity employs a ‘Rabbi and Rebbitzin’ couple, who ably lead the Charity’s activities, and who together with their children, offer a welcoming home-away-from-home for beneficiaries. The Charity also benefits from the contribution of volunteers from the students and wider community, who play a vital role in enabling the Charity to achieve its objectives.

PUBLIC BENEFIT

The trustees have given careful consideration to the Charity Commission's guidance on public benefit when setting the aims and objectives of the Charity. In particular, the trustees consider how planned activities will contribute to the aims and objectives of the Charity.

The Charity is an affiliate of the Chabad-Lubavitch movement, with centres in over 100 countries worldwide, including more than 50 centres across the UK, serving many thousands of Britain’s Jews through its innovative and compassionate programming.

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

TRUSTEES’ ANNUAL REPORT (continued)

The Charity benefits from strong formal association and partnerships with University of Brighton; University of Kent, Canterbury; University of Sussex, Brighton; and University of Southampton; where its rabbi serves as a Chaplain/Faith Advisor within the university’s Chaplaincy and maintains ongoing ties and relationships with a range of partners in these institutions, including with Vice-Chancellors and senior leaders.

The Charity has no affiliation with any political organisation.

CHARITABLE ACTIVITIES

The Charity continues to provide its broad range of tried-and-tested activities, as well as developing new and creative opportunities for beneficiaries. Below are highlighted some key areas of activities.

The weekly Lunch n Learns is a key feature of the Charity’s informal educational programming, with sessions held weekly at Universities of Kent, Southampton and Sussex.

The popular Pizza n Parsha sessions offer students a more immersive study session, exploring the weekly Torah reading as brought to life through the depth of Chabad Chassidic thought. In the spirit of nurturing both body and soul, students are treated to delicious, homemade pizza.

A number of students take advantage of the opportunity to benefit from regular one-to-one study sessions with the rabbi.

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

TRUSTEES’ ANNUAL REPORT (continued)

• Jewish Confidence & Pride

The 7[th] Oct attacks in Israel and their aftermath have had significant impact on students and faculty and on Jewish life at British universities. The Charity has expended much effort to ensure that students and faculty are supported during this challenging time, and continues to devote resources to promote Jewish pride, confidence and optimism.

In his role as Chaplain/Faith Advisor, Rabbi Lewis worked extensively with Vice-Chancellors and university leaders and partners, raising awareness of the needs of the Jewish community and advocating for greater support in ensuring the community’s safety and wellbeing.

A range of creative initiatives were implemented, to further promote pride, confidence and optimism within the university’s Jewish community. Relaxing ‘chill night’ events provided a space for Jewish students to connect, seek comfort and support each other.

The Bar Mitzvah of Yankel, son of Rabbi & Mrs Lewis, was held in Dec 2023. The celebration was

a wonderful opportunity to share the family’s joy in the traditional ‘Chabad-style’, and served as a prime educational feature for the many students who attended.

In keeping with Chabad’s emphasis on the value of the performance of each individual Mitzvah, the Charity continues to broaden its focus on encouraging students to increased engagement in this area. Notable areas of success include Tefillin, Mezuzah, Charity Giving and Shabbat candlelighting. Students continue to connect well with these messages and values, as is evident from the number of students who request assistance in increasing their Mitzvah engagement.

• Holiday programming

A key feature of the Charity’s activities, is its Jewish Holiday programming. Outlined below are highlights.

A range of events were held at the Sukkah booths at the Chabad Centre and at University of Sussex. Additionally, a Sukkah booth was erected for an afternoon during the week of the Holiday, at University of Brighton, Kent, Southampton. Through these initiatives, dozens of Jewish students and staff had the opportunity to celebrate and observe the Holidays.

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

TRUSTEES’ ANNUAL REPORT (continued)

o Pesach :

Current students, alumni and parents of students continue to provide positive feedback, expressing appreciation for the opportunities provided by the Charity, which enable beneficiaries to discover, learn and engage with a meaningful, relatable and joyful Judaism. The feedback received confirms the profound impact that the activities have on beneficiaries.

The Charity considers the holistic wellbeing of beneficiaries of vital importance. Staff offer support and guidance to beneficiaries who suffer from challenging mental health, addiction and substance abuse, general anxiety and related areas of wellbeing. The staff ‘Rabbi and Rebbitzin’ offer vital support to current students, as well as to alumni who have graduated and moved away from Brighton, who still seek their compassionate care when facing life’s difficult hurdles.

Through his links as the Jewish Chaplain/Faith Advisor at Universities of Brighton, Kent, Southampton and Sussex, Rabbi Lewis has developed strong partnerships with the chaplaincy teams, university leaders and student support services, including as an advisor to University of Sussex' 'Religion & Belief Forum', enabling him to support Jewish students and faculty, as well as to the wider university community, in many invaluable ways.

Current students, alumni and parents of students continue to provide positive feedback, expressing appreciation for the opportunities provided by the Charity, which enable beneficiaries to discover, learn and engage with a meaningful, relevant and joyful Judaism. The feedback received confirms the profound impact that the activities and classes have on beneficiaries.

The Charity considers the holistic wellbeing of beneficiaries of vital importance. Staff offer support and guidance to beneficiaries who suffer from challenging mental health, addiction and substance abuse, general anxiety and related areas of wellbeing. The staff ‘Rabbi and Rebbitzin’ offer vital support to current students, as well as to alumni who have graduated and moved away from Brighton, who still seek their compassionate care when facing life’s difficult hurdles.

Through his links as the Jewish Chaplain/Faith Advisor at Universities of Brighton, Kent, Southampton and Sussex, Rabbi Lewis has developed strong partnerships with university leaders and student support services, including as an advisor to University of Sussex' 'Religion & Belief Forum', enabling him to support Jewish students and faculty in many invaluable ways.

7

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

TRUSTEES’ ANNUAL REPORT (continued)

PLANS FOR FUTURE PERIODS

In continuing its objectives, to advance Orthodox Judaism as expounded by the teachings of Chabad-Lubavitch and to advance the understanding of Judaism amongst people of other faiths, the Charity will continue to provide its range of educational and social resources, primarily but not exclusively for the benefit of Jewish students and students of other faiths, in Brighton and the South East Counties.

The charity continues to actively seek new donors and partners, to further secure its current activities, as well as to enable further growth across all areas of provision to beneficiaries.

Centre Expansion

In April 2023, the Charity was granted Planning Approval from Brighton & Hove City Council, for the development and expansion of the Ground and Lower Ground floors of the Centre. The project will provide much needed additional facilities for activities, with the provision of a 36 m2 multi-purpose event space, a games room, an additional food preparation space and essential improvements to the existing library, main office and common areas. The Charity has secured substantial grants of 30% of the project budget, and is actively seeking further financial support to enable this important development to proceed.

FINANCIAL REVIEW

The Charity's income for the year amounted to £99,633 (2023: £54,558) and the expenditure for the year was £87,850 (2023: £76,416). The resulting net surplus for the year is £11,783 (2023: £21,915 deficit).

RESERVES POLICY

It is the policy of the trustees to seek to maintain funds which are the reserves of the Charity at a level sufficient to cover management, administration and support costs, subject to constraints arising from the diminishing financial and other resources available.

The trustees have established the level of unrestricted current net assets that the Charity ought to have. Reserves are needed to bridge the funding gap between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of net current assets as at 31 May 2024 would be three months of resources expended which equates to £22,000.

At 31 May 2024 the Charity had unrestricted net current liabilities of £82,823 (2023: £103,329 net current liabilities) arising from a bank loan which fell due in the accounting period. Fuller details and the implications on going concern are discussed in note 3 of the financial statements.

The trustees are conscious of the need to further expand the Charity’s fundraising, in order to secure the activities of the charity, and are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide for future financial stability and flexibility to fund charitable activities.

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under the Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 26 November 2024 and signed on behalf of the board of trustees by: P. Efune

Rabbi P Efune

Trustee

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CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the financial statements of Chabad Lubavitch South East Counties Ltd (‘the Charity’ and for company law purposes, ‘the Company’) for the year ended 31 May 2024.

Responsibilities and basis of my report

As the Charity’s trustees (who are also directors of the Company 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 for this year 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 material matters have come to my attention which give me reason to be believe that:

Emphasis of matter

Your attention is drawn to the material uncertainty in the going concern status of the charity identified in note 3.

I have no other 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.

1g Accountants

Shaya Grosskopf FCA 1g Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ

26 November 2024

10

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

STATEMENT OF COMPREHENSIVE FINANCIAL ACTIVITIES (INCOME STATEMENT)

Note
Income
Donations, grants, and legacies
Investment income
Other income
Total income
4
Expenditure
Expenditure on charitable activities
Expenditure on fundraising
Governance costs
Finance costs
Total expenditure
5
Total surplus / (deficit) for the year
being total comprehensive income for
the year and movement in funds
7
Reconciliation of funds
Total funds brought forward
Total funds carried forwards
12		 Unrestricted
funds
£
99,493
140
-
99,633
65,915
-
3,992
10,699
80,606
19,207
(101,850)
(82,823)		 2024
Restricted
funds
£
-
-
-
-
7,244
-
-
-
7,244
(7,244)
547,127
539,883		 Total
funds
£
99,493
140
-
99,633
73,159
-
3,992
10,699
87,850
11,783
445,277
457,060		 2023
Total funds
£
54,499
59
-
54,558
67,843
-
996
7,577
76,416
(21,858)
467,136
445,278

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

11

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024 STATEMENT OF FINANCIAL POSITION

Note
Fixed assets
Tangible fixed assets
8
Current assets
Debtors
9
Cash at bank and in hand
Total current assets
Creditors: amounts falling due with one year
10
Net current assets / (liabilities)
Total assets less current liabilities
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
Total charity funds
12		 2024
£
541,347
17,163
5,726
22,889
(107,176)
(84,287)
457,060
457,060
539,883
(82,823)
457,060		 2023
£
548,607
13,533
3,609
17,142
(120,471)
(103,329)
445,278
445,278
547,128
(101,850)
445,278

12

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024 STATEMENT OF FINANCIAL POSITION (continued)

For the year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No member has required the Company to obtain an audit for its financial statements for the year in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.

The 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 26 November 2024 and are signed on behalf of the board by:

P. Efune

Rabbi P Efune

Trustee

Company registration number: 07652293

The notes on the succeeding pages from part of these financial statements.

13

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024 NOTES TO THE FINANCIAL STATEMENTS

1. General Information

The Charity is a registered charity and a private company limited by guarantee, registered in England and Wales. The registered address is Chabad House, 14 Richmond Terrace, Brighton BN2 9SA. The liability of the members in the event of the charity being liquidated is limited to £1 each.

2.

Statement of compliance

The financial statements have been prepared in compliance with FRS102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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 (Charities SORP (FRS 102) and the Companies Act 2006.

3.

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis modified by the revaluation of freehold property to its market value. The financial statements are prepared in pound sterling, which is the functional currency of the Charity.

Going concern

At the financial year end there was a significant excess of £85,195 of liabilities over assets which gives rise to material uncertainty about the status of the charity as a going concern. Much of this related to a £100,500 bank loan due for repayment in May 2025. In the Trustees’ opinion it is likely the charity will be able to refinance this loan. The trustees believe that operating costs can be met by its committed pool of donors, to whom the trustees extend their thanks. The Accordingly, the trustees have elected to prepare the financial statements on the going concern basis.

Disclosure exemption

The Charity qualifies for and has taken advantage of the exemption available under paragraph 1.12 of FRS102 from presenting a cash flow statement.

Key judgements and estimates

The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions. A key assumption is the estimated remaining useful life of the freehold property, which has been estimated at 50 years at the financial year end, and its estimated residual value, which has been estimated at £300,000, as well as whether to derive its current market value from residential or commercial comparators.

14

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

Fund accounting

The charity’s assets are split between unrestricted funds, which are available for use at the trustee’s discretion in furtherance of the Charity’s objectives, and restricted funds, which are subject to specific conditions by donors as to how they may be used. Further details on the Charity’s restricted fund are presented in note 12 to the financial statements.

Incoming resources

Incoming resources are included in the statement of financial of activities when entitlement has passed to the charity; it is probable that economic benefits will pass to the charity; and that benefit can be reliably quantified. The following specific policies are applied to specific categories of income: -

Resources expended

Expenditure is recognised on an accrual basis when incurred and is inclusive of value added tax.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value of that asset as follows:

Freehold property: 2% straight line with £300,000 residual value. Freehold improvements: 4% straight line. Plant and machinery: 25% straight line.

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 amount exceeds the recoverable amount the asset is impaired accordingly.

15

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024 NOTES TO THE FINANCIAL STATEMENTS (continued)

Financial instruments

Basic financial instruments, being most current assets and liabilities, are measured at the cash or other consideration expected to be paid or received. Financing transactions are measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid distributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or cash refund.

4. Income

Donations and legacies
Sundry donations
Grants received
Total donations, grants, and legacies
Investment income
Other interest
Total investment income
Other income
Brighton & Hove Council Covid 19
small entity grant
Total other income
Total income		 Unrestricted
funds
£
76,646
22,847
99,493
-
-
-
-
99,633		 2024
Restricted
funds
£
-
-
-
-
-
-
-
-		 Total
funds
£
76,646
22,847
99,493
140
140
-
-
99,633		 2023
Total funds
£
53,422
1,077
54,499
59
59
-
-
54,558

16

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

5. Expenses

Expenditure on charitable activities
Costs of charitable events
Grants paid
Premises costs
Depreciation
Staff costs
General costs
Total expenditure on charitable
activities
Expenditure on finance costs
Bank interest and charges paid
Expenditure on governance costs
Independent examiner’s fees
Legal, compliance and professional costs
Total expenditure on governance costs
Total expenditure		 Unrestricted
funds
£
16,251
1,146
10,396
815
27,767
9,540
65,915
10,699
1,062
2,930
3,992
80,606		 2024
Restricted
funds
£
-
-
-
7,244
-
-
7,244
-
-
-
-
7,244		 2023
Total
funds
Total funds
£
£
16,251
10,716
1,146
-
10,396
10,856
8,059
7,991
27,767
28,307
9,540
9,973
73,159
67,843
10,699
7,577
1,062
996
2,930
-
3,992
996
87,580
76,416

During the financial year, the charity made a single grant in the sum of £1,146 to Chabad of Liverpool University for religious education. In the prior year, no grants were paid.

17

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024 NOTES TO THE FINANCIAL STATEMENTS (continued)

6. Staff costs

The total staff costs for the period are analysed as followed

Wages and salaries
Statutory maternity pay reclaimed
Employer pension contributions
Staff training and conferences		 2024
£
26,400
(768)
419
1,716
27,767		 2023
£
26,422
419
1,446
28,307

The average number of staff employed by the Charity during the year was 2 (2023: 2).

7. Net deficit

Net deficit is stated after charging:

et deficit is stated after charging:
2024 2023
£ £
Fees payable for the independent examination of the 1,062 996
financial statements
Depreciation of tangible fixed assets 8,059 7,991

18

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

8.
Tangible fixed assets
Market value or cost
At 1 June 2023
Additions
Revaluation in year
At 31 May 2024
Depreciation
At 1 June 2023
Charge for the year
At 31 May 2024
Net book values
At 31 May 2024
At 31 May 2023		 Freehold
improvements

£
24,611
-
-
24,611
977
560
1,537
23,073
23,634		 Freehold Land
and Building
£
634,208
-
-
634,208
110,944
6,684
117,628
516,580
523,264		 Plant and
Machinery
£
2,741
801
-
3,542
1,033
815
1,848
1,694
1,708		 Total
£
661,560
801
-
662,361
112,954
8,059
121,013
541,347
548,606

Security in respect of a bank loan of £100,500 (2023: £114,500) has been granted against the freehold land and building at 14 Richmond Terrace, Brighton.

The trustees’ valuation is predicated on comparison to predominantly residential usage properties, which they believe represents the likely next use of the property. A recently commissioned professional survey comparing the property to predominantly commercial usage gave rise to a lower valuation of £430,000.

19

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024 NOTES TO THE FINANCIAL STATEMENTS (continued)

9.
Debtors
Other debtors
10.
Creditors: amounts falling due with one year
Bank loans
Accruals
Social security and other taxes payable
Other creditors		 2024
£
17,163
17,163
2024
£
100,500
1,538
-
5,138
107,176		 2023
£
13,533
13,533
2023
£
114,500
1,569
383
4,019
120,471

20

CHABAD LUBAVITCH SOUTH EAST COUNTIES LTD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024 NOTES TO THE FINANCIAL STATEMENTS (continued)

11. Analysis of restricted funds

Building fund
Office refurbishment
fund
Total restricted
funds
Building fund
Office refurbishment
fund
Total restricted
funds		 At 1 June 2023
532,838
14,290
547,128
At 1 June 2022
539,522
14,850
554,372		 Income
-
-
-
Income
-
-
-		 Expenditure
6,684
560
7,244
Expenditure
6,684
560
7,244		 At 31 May 2024
526,154
13,730
539,884
At 31 May 2023
532,838
14,290
547,128

Both funds are wholly represented by fixed assets (2023: wholly represented by fixed assets).

12. Transactions with trustees and related party transactions.

No trustee drew remuneration or expenses in the current or prior year.

Included within donations is an amount of £1,713 (2023: £nil) donated by Chabad of Notingham. Rabbi Y A J Angyalfi serves as a trustee of both this Charity and Chabad of Nottingham.

Included within donations is an amount of £2,164 (2023: £1,534) donated by a trustee of the charity.

Included in other debtors is a £7,931 loan (2023: £8,200) owed to the charity by Rabbi S Z Lewis which is interest free and has no set repayment terms.

In order to carry out the duties of their employment and pursuant to a service occupancy license with the Charity, Rabbi S Z Lewis and Rebbetzin S S Lewis and their family reside in the charity’s freehold property, which is a qualifying premises for the purposes of section 290 of the Income Tax (Earnings and Pensions) Act 2003.

As Rabbi S R Lewis has a close familial relationship with Rabbi S Z Lewis he recuses himself from involvement in all trustee decisions concerning the remuneration and management of the Rabbinical couple..

21

Issuer

1g Accountants

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Audit history log

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Mon, 25th Nov 2024 21:47:23 GMT Mon, 25th Nov 2024 21:47:23 GMT Mon, 25th Nov 2024 21:47:23 GMT Mon, 25th Nov 2024 21:47:23 GMT Mon, 25th Nov 2024 21:47:23 GMT Mon, 25th Nov 2024 21:50:47 GMT Mon, 25th Nov 2024 21:53:39 GMT

Mon, 25th Nov 2024 21:57:15 GMT Mon, 25th Nov 2024 21:57:15 GMT Mon, 25th Nov 2024 23:04:09 GMT Mon, 25th Nov 2024 23:05:15 GMT Mon, 25th Nov 2024 23:05:15 GMT

Mon, 25th Nov 2024 23:05:16 GMT

Action Envelope generated by Shaya Grosskopf84.68.176.227 Document generated with fingerprint d79b8c60ccf185d5d0eca30dcb23490584.68.176.227 Document generated with fingerprint 43b9958498b20a2ee66c116933a4825084.68.176.227 Document generated with fingerprint 417ff05ad6d0293341a8b7b0d3aea6e584.68.176.227 Document generated with fingerprint 9bbdd36cff4567a33454d7ec5db188ae84.68.176.227 Document generated with fingerprint 1fd9c3079d662589e84de441304ce47284.68.176.227 Document generated with fingerprint 3f3653aa75743b30933f5d1697adb14384.68.176.227 Sent the envelope to Rabbi P Efune (rabbiefune@hotmail.com) for signing84.68.176.227 Document emailed to rabbiefune@hotmail.com3.10.178.63 Rabbi P Efune viewed the envelope109.147.188.208 Rabbi P Efune signed the envelope109.147.188.208 Sent the envelope to Shaya Grosskopf (sg@1gaccounts.uk) for signing109.147.188.208 Rabbi P Efune viewed the envelope109.147.188.208

Mon, 25th Nov 2024 23:05:16 GMT Mon, 25th Nov 2024 23:06:32 GMT Tue, 26th Nov 2024 8:39:52 GMT Tue, 26th Nov 2024 8:39:54 GMT Tue, 26th Nov 2024 8:39:55 GMT Tue, 26th Nov 2024 8:40:51 GMT Tue, 26th Nov 2024 8:40:51 GMT

Tue, 26th Nov 2024 8:40:52 GMT Tue, 26th Nov 2024 8:40:52 GMT Tue, 26th Nov 2024 8:40:52 GMT

Document emailed to sg@1gaccounts.uk18.132.119.111 Rabbi P Efune viewed the envelope52.143.97.249 Shaya Grosskopf opened the document email.66.249.93.73 Shaya Grosskopf opened the document email.66.249.93.72 Shaya Grosskopf viewed the envelope84.68.176.227 Shaya Grosskopf signed the envelope84.68.176.227 Sent the envelope to Rabbi Z Lewis (zalman@chabadsussex.org) for signing84.68.176.227 This envelope has been signed by all parties84.68.176.227 Shaya Grosskopf viewed the envelope84.68.176.227 Document emailed to zalman@chabadsussex.org35.179.144.35