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← Cardiff Reform Synagogue

2023-12-31-accounts

Charity registration number: 1144498

Cardiff Reform Synagogue

Annual Report and Financial Statements for the Year Ended 31 December 2023

Cardiff Reform Synagogue

Contents

Trustees' Report 1 to 7
Independent Auditors' Report 8 to 10
Statement of Financial Activities 11 to 12
Balance Sheet 13
Notes to the Financial Statements 14 to 24

Cardiff Reform Synagogue

Trustees' Report

The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. 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

Objects and aims

The objective of the Charity is the furtherance of the Jewish Faith in accordance with the custom of the Movement for Reform Judaism. The objectives are met by organising regular acts of worship, education and other activities based in Synagogue.

Page 1

Cardiff Reform Synagogue

Trustees' Report

Objectives, strategies and activities

Report of the Finance Group 2023

The Financial Statements for the year ended 31st December 2023 show a net loss on recurring activities of £95 (2022 loss £14,558), offset by a gain on revaluation of our investments of £13,770, resulting in a total surplus for the year of £13,675 (2022 loss £31,274).

The valuation of our investment assets has risen significantly over the last year in line with a general improvement in stock markets around the world since 31 December 2022. The growth of 9.3% during the year also reflects the benefits of the reallocation of our investments and cash reserves implemented during 2022, whilst we have also benefited from the rise in interest rates on our cash deposits over the course of the last 12 months.

There are a few notable factors to report. During the year our caretaker Jenny retired and has not been replaced. We contracted the services of a cleaning company to perform her cleaning tasks, at an overall saving of £5,500. We received grants from Pencare of £500 towards the costs of our Civic Chanukah lighting event, £850 towards the cost of our Seder, and £2,159 towards the costs of upgrading our security systems in the light of the October 7th events in Israel, followed by a further grant of £3,150 in January 2024 for the same purpose. We are extremely grateful to the Pencare trustees for granting us these funds.

Following the tragic events of 7th October, the Synagogue Council voted to donate the remaining amount in our High Holy Day Charitable Fund to organisations in Israel struggling to deal with the consequences. We donated £750 each to UJIA and Magen David Adom, organisations it was felt were best placed to utilise the funds received efficiently and expeditiously.

During the year we sadly lost 7 members who either passed away or resigned their membership, and we also gained 4 new members. The net impact of this fall in numbers, combined with the increase in membership subscriptions implemented in September 2023, was to maintain our income from membership at 2022 levels. The economic climate has slowly improved during the last year and inflation has more than halved to around 3%. However, the ongoing decline in membership numbers we face year to year necessitates that we increase membership contributions to maintain our primary income stream and enable us to continue offering services to members. We have therefore taken the decision to recommend an increase in membership subscriptions of 3% this year, effective September 2024. This equates to an increase of less than £10 per year for a single full-rate member. Our burial insurance premium remains unchanged.

Members are reminded to speak in confidence with a member of the Finance Group if they are suffering financial hardship which makes it difficult to maintain their synagogue contributions. I would like to remind members once again of the importance to the synagogue of donations and legacies and ask members to consider a legacy to the synagogue when drawing up their wills to help us maintain the synagogue for future generations.

Our thanks once again go to all those who have contributed to the smooth financial running of the synagogue during the year.

Steven Salamon Jean Golten Nathaniel Lane Finance Group

Page 2

Cardiff Reform Synagogue

Trustees' Report

Fundraising disclosures

Wardens Report

We have continued all our services in the Shul and also on zoom.

As we are without the services of a Rabbi, we are indebted to all those lay members who have led the services and have taken the time to learn the Torah Readings.

Again we had a very successful Communal Seder which was led by Philip Kaye, David Cohen and Colin Heyman and many thanks to Karen and her team for the catering for that event and for all the special kiddushim that have taken place throughout the year and also a big thanks to the regular Shul goers who have helped to prepare our normal weekly kiddush.

The High holy services were again led by Rabbi Charing but this year we learned that Anthoney Phillip’s our canter from previous years was no longer available and we would like to give a huge thank you to Judy Harry who took over this role and we would like to say that her singing at Shabbat and festival services throughout the year has been enormously appreciated.

We have been very fortunate to have had the services of Student Rabbi Martina Loreggian who has been coming to Cardiff once a month.

Mazeltov to Kelly Bernstein and Jill Minkes for being Kallah Torah and Kallah Berashit.

Our Services since October 7th have included special prayers for the release of all hostages and for peace to come very soon.

Sadly we have had to disband our Cheder due to a lack of children

The wardens

Public benefit

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review also helps us ensure our aims, objectives and activities remained focused on our stated objectives.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Policy on reserves

The trustees consider that the organisation should hold, as a minimum, reserves equivalent to 12 months operating expenditure. As at 31 December 2023 the level of available reserves, i.e. those unrestricted reserves excluding fixed assets, investments and designated funds stood at £124,282. Based on 2023 expenditure levels, reserves represents approximately 24 months of expenditure. The trustees are mindful of the continuing decline in the number of members and an increasing cost base, and consider it appropriate to maintain the current level of reserves to meet expenditure in future years. This policy is subject to a continuing review

Page 3

Cardiff Reform Synagogue

Trustees' Report

Investment policy and objectives

The trustees have considered the most appropriate policy for investing funds as being investment in COIF Charity Funds.

Reference and Administrative Details

Charity Registration Number: 1144498
Principal Office: Moira Terrace
Cardiff
CF24 OEJ
Auditor: HSJ Audit Limited
Severn House
Hazell Drive
Newport
NP10 8FY
Solicitors: Mr P Simon
Axion Ince Ltd
33, Charles Street
Cardiff
CF10 2AG

Page 4

Cardiff Reform Synagogue

Trustees' Report

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees:

Mr D Cohen - Executive Committee Member

Mrs T Pitt - Executive Committee Member Mrs S J Golten - Custodial Trustee, Executive Committee Member

Mr E Cawston - Executive Committee Member

Mr S Salamon - Chair of Finance Committee

Mr N Kirby – Custodial Trustee (deceased 18 October 2023) Mr M Stone – Custodial Trustee (appointed 21 March 2024)

Mrs K Bernstein (resigned 9 July 2023)

Mr C Heyman

Mr P Kaye (resigned 9 July 2023)

Mr J-J Martin (co-opted 20 July 2023, resigned 22 March 2024)

Mr N Lane

Prof S Rollnick

Other Officers:

Mrs L Fuller - Warden

Mr L Bernstein - Warden

Mr D Kyiet - Warden

Mr H Ben-Avraham - Warden

Mr J Minkes - Warden

Page 5

Cardiff Reform Synagogue

Trustees' Report

Structure, governance and management

Nature of governing document

The organisation is an unincorporated religious charity registered under the Places of Worships Act 1855 (number 71430) and registered with the Charity Commission on 2 November 2011, Charity Number 1144498.

The charity is governed by the laws of Cardiff Reform Synagogue, subject to the jurisdiction of the Charity Commission for England and Wales

Recruitment and appointment of trustees

Trustees are appointed by member vote at the AGM. There is no formal training of trustees; however all are to act in accordance with the law of the Synagogue and to attend council meetings.

Organisational structure

The Charity is managed by the trustees who are elected by the members in accordance with its constitution at the Annual General Meeting.

The financial controls are vested in the council members who oversee the day to day running of the Charity

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 6

Cardiff Reform Synagogue

Trustees' Report

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

14 July 2024

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

.........................................

Mrs S J Golten - Custodial Trustee, Executive Committee Member Trustee

Page 7

Cardiff Reform Synagogue

Independent Auditor's Report to the Members of Cardiff Reform Synagogue

Opinion

We have audited the financial statements of Cardiff Reform Synagogue (the 'charity') for the year ended 31 December 2023, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 8

Cardiff Reform Synagogue

Independent Auditor's Report to the Members of Cardiff Reform Synagogue

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 6), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We coroborated our enquiries of management by review of correspondence with HMRC and The Charity Commission and other regulatory bodies.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and address material misstatements in relation to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 9

Cardiff Reform Synagogue

Independent Auditor's Report to the Members of Cardiff Reform Synagogue

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor) For and on behalf of HSJ Audit Limited, Statutory Auditor

Severn House Hazell Drive Newport NP10 8FY 12/08/2024 Date:.............................

Page 10

Cardiff Reform Synagogue

Statement of Financial Activities for the Year Ended 31 December 2023

Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
5
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Gains/losses on investment assets
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
8,073
51,949
1,173
6,950
270
68,415
(66,542)
(66,542)
13,770
15,643
(536)
15,107
287,369
302,476		 Restricted
funds
£
2,687
-
-
-
-
2,687
(4,655)
(4,655)
-
(1,968)
536
(1,432)
302,726
301,294		 Total
2023
£
10,760
51,949
1,173
6,950
270
71,102
(71,197)
(71,197)
13,770
13,675
-
13,675
590,095
603,770

The notes on pages 14 to 24 form an integral part of these financial statements. Page 11

Cardiff Reform Synagogue

Statement of Financial Activities for the Year Ended 31 December 2023

Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
5
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Gains/losses on investment assets
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
8,058
53,698
3,596
207
65,559
(250)
(79,962)
(80,212)
(16,466)
(31,119)
(31,119)
318,488
287,369		 Restricted
funds
£
4,075
-
-
-
4,075
-
(4,230)
(4,230)
-
(155)
(155)
302,881
302,726		 Total
2022
£
12,133
53,698
3,596
207
69,634
(250)
(84,192)
(84,442)
(16,466)
(31,274)
(31,274)
621,369
590,095

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 18.

The notes on pages 14 to 24 form an integral part of these financial statements. Page 12

Cardiff Reform Synagogue

(Registration number: 1144498) Balance Sheet as at 31 December 2023

Note
Fixed assets
Tangible assets
12
Heritage assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
18		 2023
£
311,439
2,210
161,149
474,798
10,617
127,087
137,704
(8,732)
128,972
603,770
301,294
302,476
603,770		 2022
£
309,888
2,210
147,379
459,477
8,648
132,223
140,871
(10,253)
130,618
590,095
302,726
287,369
590,095

The financial statements on pages 11 to 24 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

.........................................

Mrs S J Golten - Custodial Trustee, Executive Committee Member Trustee

.........................................

Mr S Salamon - Chair of Finance Committee Trustee

The notes on pages 14 to 24 form an integral part of these financial statements. Page 13

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Accounting policies

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Other trading activities

Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).

Investment income

Investment income is recognised on a receivable basis.

Charitable activities

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.

Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Raising funds

Costs of generating funds are the costs of trading for fundraising purposes.

Page 14

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Heritage assets

Heritage assets are purchased assets with a residual value of £2,210 depreciation has therefore not been provided.

Heritage assets are scrolls and silver ornaments which are included in the accounts at their residual value.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Long leasehold 30 years straght line Other assets 10% on cost

Fixed asset investments

Fixed asset investments are included at market value at the balance sheet date.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.

Page 15

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
3
Income from charitable activities
Other charitable activities
Chevrah Kadisha - Burials
4
Income from other trading activities
Property rental income		 Unrestricted
funds
General
£
7,801
272
8,073		 Restricted
funds
£
2,288
399
2,687
Unrestricted
funds
General
£
49,125
2,824
51,949		 Total
2023
£
10,089
671
10,760
Total
2023
£
49,125
2,824
51,949
Unrestricted
General
£
1,173
1,173		 Total
2022
£
11,309
824
12,133
Total
2022
£
46,551
7,147
53,698
Total
2023
£
1,173
1,173

Page 16

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

5 Investment income

Unrestricted
funds Total Total
General 2023 2022
£ £ £
Other investment income 6,950 6,950 3,596

6 Expenditure on raising funds

a) Costs of trading activities

Note
Fundraising trading costs;
Fundraising		 Total
2023
£
-
-		 Total
2022
£
250
250

7 Expenditure on charitable activities

Note
Other charitable activities
Board of Deputies
Chevrah Kadisha -
Burials
Chevrah Kadisha -
Insurance Premium
Seder
Allocated support costs
Governance costs		 Unrestricted
funds
General
£
51,181
492
5,406
547
1,321
1,869
5,726
66,542		 Restricted
funds
£
4,655
-
-
-
-
-
-
4,655		 Total
2023
£
55,836
492
5,406
547
1,321
1,869
5,726
71,197		 Total
2022
£
64,271
495
9,878
1,852
1,249
1,314
5,133
84,192

Page 17

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

Chevrah Kadisha Burial costs of £5,406 (2022: £9,878) noted above represent expenditure on funerals during the year which is funded by family contributions of £2,524 (2022: £7,147) as stated in noted 3 above.

The expenditure of £547 (2022: £1,852) in connection with Chevrah Kadisha Insurance Premiums represents the shortfall in the year between the annual burial insurance premium and the contributions made by the members. This cost is met by the unrestricted reserves of the Synagogue.

8 Analysis of governance and support costs

Support costs allocated to charitable activities

Governance Finance Total Total
costs costs 2023 2022
Basis of allocation £ £ £ £
Other charitable activities A 3,780 1,946 5,726 5,133

Basis of allocation

Reference Method of allocation A 100% of related expenditure incurred in the year

Page 18

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

9 Net incoming/outgoing resources

Net outgoing resources for the year include:

Audit fees
Depreciation of fixed assets		 2023
£
3,780
317		 2022
£
3,420
617

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year.

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Land and
buildings
£
309,784
2,343
312,127
892
59
951
311,176
308,892		 Furniture and
equipment
£
38,491
-
38,491
37,670
558
38,228
263
821		 Total
£
348,275
2,343
350,618
38,562
617
39,179
311,439
309,713

Included within the net book value of land and buildings above is £310,335 (2022 - £307,992) in respect of freehold land and buildings and £841 (2022 - £1,075) in respect of leaseholds.

Page 19

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

13 Heritage assets
Cost
At 1 January 2023
At 31 December 2023
Depreciation
At 31 December 2023
Net book value
At 31 December 2023		 Heritage assets
£
2,210		 Total
£
2,210
2,210
-		 2,210
-
2,210 2,210

Page 20

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

14 Fixed asset investments

Other investments

Other investments
Cost or Valuation
At 1 January 2023
Revaluation
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
15 Debtors
Prepayments
Other debtors
16 Cash and cash equivalents
Cash at bank
17 Creditors: amounts falling due within one year
Other creditors
Accruals		 Listed
investments
£
147,379
13,770		 Total
£
147,379
13,770
161,149
161,149
147,379
2022
£
-
8,648
161,149
161,149
147,379
2023
£
1,489
9,128
10,617
2023
£
127,087
2023
£
3,492
5,240
8,732
8,648
2022
£
132,223
2022
£
6,833
3,420
10,253

Page 21

Total funds Charitable Fund Hineni & Development Projects Tree of Life Fund Building Fund Capital Fund Restricted funds General Funds General Unrestricted funds 18 Funds
590,095
71,102
(71,197)
-		 302,726
2,687
(4,655)
536		 1,432
2,687
(4,655)
536		 1,527
-
-
-		 2,639
-
-
-		 26,762
-
-
-		 270,366
-
-
-		 287,369
68,415
(66,542)
(536)		 £
£
£
£		 January 2023
resources
expended
Transfers		 Balance at 1
Incoming
Resources
13,770 - - - - - - 13,770 £ gains/(losses) recognised Other
603,770 301,294 - 1,527 2,639 26,762 270,366 302,476 £ 2023 December Balance at 31
The Hineni and Development Projects Fund utilises monies raised to fund the Hineni oral history project and a development worker. The Tree of Life Fund was set up to provide for the cost of individual plaques on a memorial tree for members. The charitable fund represents the balance of monies received but not yet expensed on specific charitable appeals. The capital and building funds have arisen as a result of appeals held to generate monies to improve the freehold land and buildings. Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. The specific purposes for which the funds are to be applied are as follows: Total funds
621,369
69,634
(84,442)
(16,466)		 Total restricted funds
302,881
4,075
(4,230)
-		 Charitable fund
1,587
4,075
(4,230)
-		 Hineni & Development Projects
1,527
-
-
-		 Tree of Life fund
2,639
-
-
-		 Building fund
26,762
-
-
-		 Capital fund
270,366
-
-
-		 Restricted General fund
318,488
65,559
(80,212)
(16,466)		 General Unrestricted funds £
£
£
£		 January 2022
resources
expended
gains/(losses)		 Balance at 1
Incoming
Resources
recognised		 Other Notes to the Financial Statements for the Year Ended 31 December 2023 Cardiff Reform Synagogue
590,095 302,726 1,432 1,527 2,639 26,762 270,366 287,369 £ 2022 December Balance at 31

Cardiff Reform Synagogue

Notes to the Financial Statements for the Year Ended 31 December 2023

19 Analysis of net assets between funds

19 Analysis of net assets between funds
Tangible fixed assets
Heritage assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Heritage assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
14,311
2,210
161,149
133,538
(8,732)
302,476
Unrestricted
funds
General
£
12,760
2,210
147,379
135,273
(10,253)
287,369		 Restricted
funds
£
297,128
-
-
4,166
-
301,294
Restricted
funds
£
297,128
-
-
5,598
-
302,726		 Total funds at
31 December
2023
£
311,439
2,210
161,149
137,704
(8,732)
603,770
Total funds at
31 December
2022
£
309,888
2,210
147,379
140,871
(10,253)
590,095

Page 24

CARDIFF REFORM SYNAGOGUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES Year Ended 31 December 2023

Incoming resources:
Donations and legacies
Appeals and donations
Gift Aid tax reclaimed
Charitable activities
Membership subscriptions
Chevrah Kadisha
Gift Aid on Membership Subscriptions
JRS Grant
Other trading activities
Rental income
Other income
Fundraising events
Investment income
Income from other investments
Expenditure:
Raising funds
Purchases
Charitable activities
Burial insurance premium
Establishment costs (below)
Synagogue refurbishment
MRJ levies
Chevrah Kadisha
Seder
Cheder (religion school)
Rabbinical services
Organists and singers
Board of Deputies
Donations
Sundry expenses
Bank charges
Depreciation of property
Depreciation of fixtures and fittings
Accountancy fee
Annual audit		 2023
10,089
671
10,760
39,215
2,824
7,751
2,159
51,949
1,173
1,173
270
270
6,950
6,950
-
-
(547)
(22,797)
(5,154)
(3,491)
(5,406)
2
(1,323)
(14,955)
(862)
(492)
(4,655)
(3,131)
(1,869)
(234)
(557)
(1,946)
(3,780)
(71,197)		 2022
11,309
824
12,133
38,728
7,147
7,824
-
53,698
-
-
207
207
3,596
3,596
(250)
(250)
(1,852)
(29,806)
(8,532)
(4,083)
(9,878)
(1,249)
-
(14,261)
(1,500)
(495)
(4,230)
(1,241)
(1,314)
(60)
(557)
(1,713)
(3,420)
(84,192)

Gains/losses on investment assets:

Revaluation gains / (losses)
Net income / (expenditure)
Establishment costs
Water Rates
Building insurance
Equipment maintenance
Light and heat
Cleaning / catering
Postage/telephone
Website expenses
Security system
Publication and printing		 13,770
13,770
13,675
(287)
(5,493)
(3,261)
(5,792)
(5,337)
(1,174)
(1,417)
-
(36)
(22,797)		 (16,466)
(16,466)
(31,274)
(253)
(5,224)
(5,838)
(4,289)
(10,881)
(1,572)
(622)
(603)
(525)
(29,806)