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2022-12-31-accounts

Company number: 09113305 Charity number: 1159292

The Liberal Jewish Synagogue (A company limited by guarantee)

Trustees' Report and Financial Statements for the year ended 31 December 2022

Page
Reference and administrative details of the charity 1
Trustees' report 2-10
Statement of financial activities 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14-26
Independent auditor’s report 27-30

The Liberal Jewish Synagogue REFERENCE AND ADMINISTRATIVE INFORMATION 31 DECEMBER 2022

Trustees

Term ended 22[nd] June 2022 Term ended 22[nd] June 2022 Appointed 22[nd] June 2022 Appointed 22[nd] June 2022

Sue Head, Chairman Chris Godbold, Chairman David Adams, Honorary Treasurer Benita Hart, Lead on Comms & Marketing Karen Newman, Lead on HR Gaby Lazarus, Lead on Volunteering Sue Bolsom Sylvia Churba David Davidson Lisa Gershon Harriett Goldenberg Jenny Nathan MBE David Rigal Michael Romain Anthony Sefton Simon van Someren Alexandra Weiss

President

Martin Slowe Honorary Lawyer Daniel Sternberg Jacob Gifford Head

Term ended 22nd June 2022

Resigned 10[th] January 2022 Appointed 10[th] January 2022

Executive Director

Jonathan Bruck

Company registered number 09113305

Charity registered number

1159292

Registered office

28 St John’s Wood Road, London NW8 7HA

Independent auditor

Buzzacott LLP, 130 Wood Street, London EC2V 6DL

Bankers

CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent M19 4JQ

Investment managers

Redmayne Bentley LLP, 9 Bond Court, Leeds, West Yorkshire LS1 2JZ

1

The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees are pleased to present their Report together with financial statements of the charitable company for the year ended 31 December 2022. This report reflects the impact of the COVID-19 pandemic on the Synagogue throughout 2020, 2021 and 2022.

Vision and values

The Liberal Jewish Synagogue (‘the LJS’) is the oldest and largest of 40 Liberal and Progressive Jewish communities in the UK, Republic of Ireland, the Netherlands and Denmark. The LJS is an inclusive, diverse and egalitarian community of all ages. We work together to explore Jewish traditions, texts and values, applying them to the challenge of living ethical lives in the context of the social, intellectual, technological, scientific and environmental realities of the 21[st] century. We seek to sustain and develop the Jewish people’s sacred task: to build a just and compassionate world, based on our commitment and responsibility to each other as Jews and to our friends and neighbours of other faiths, cultures and ethnicities. We strive to enrich and celebrate our Jewish identity in the context of shared spirituality and creativity, intellectual challenge and meaningful relationships.

The LJS is guided by its values:

  1. Kehillah: the LJS seeks to be a warm, welcoming and compassionate community for all those who wish to engage with Judaism

  2. Avodah: the LJS cherishes meaningful, shared worship and spiritual engagement within the context of Liberal Judaism

  3. Torah: the LJS prioritises life-long learning and the intellectual stimulation and challenge of Jewish texts, ideas and practice

  4. Gemilut Chasadim: the LJS nurtures meaningful relationships through pastoral care and spiritual encounter and encourages social networking across generations, and between faiths and cultures

  5. Tikkun Olam: the LJS values and engages in purposeful activity that is designed to repair and heal the world

  6. Bal Tashchit: the LJS strives to increase awareness of the climate emergency and to reduce our human impact on the environment

  7. Chayyim: the LJS celebrates and commemorates all life cycle events that help to give meaning to people’s lives

  8. Din v’Cheshbon: the LJS is committed to transparent and responsible governance of the congregation and financial accountability by its trustees

9. Yahadut Mitkademet: the LJS encourages its members’ contribution to the dynamic growth and development of Liberal Judaism in the UK, Europe, Israel and beyond

  1. Bakkesh Shalom : the LJS endorses the State of Israel’s Declaration of Independence as a country based on the principles of ‘liberty, justice and peace’ and ‘the full social and political equality of all its citizens’

Activities

The activities of the LJS are organised into four strategic areas: spirituality, learning, community, and sustainability. A strategic plan is produced to provide the direction and focus for work during a three-year period. The plan is reviewed each year by the Honorary Officers, Council, Executive Director, Rabbis, senior members of staff and Committee Chairs. It provides the framework for the programme of services, activities and events for the next year, which is then used to produce an updated strategic plan and annual budget. Both the plan and budget are approved by Council. Progress against the plan and quarterly management accounts are analysed regularly and reported to the Honorary Officers and Council.

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The first three-year strategic plan (‘Reaching our Goals’) was developed in early 2022. This allowed the Synagogue and its committees to focus on both the immediate issues and the medium-term future along with the cost and impact they would have on the Synagogue.

2022 marked the beginning of the return to normality following the pandemic. To allow greater participation in our services and adult education, these continued both in person and on-line (’hybrid’). Other areas including Rimon, Singing for the Mind, Video & Tea and the Out & About Club returned fully to the synagogue. Some of these were more successful than others, but all grew as the year progressed.

Spirituality (including music)

Religious services for Shabbat and festivals, as well as life-cycle celebrations, are central to the LJS and are led by Senior Rabbi Alexandra Wright and Rabbi Igor Zinkov. All our services in 2022 were hybrid on both Zoom and the dedicated LJS YouTube channel (https://tinyurl.com/LJSyoutube). We were delighted to have a very impressive attendance during the High Holy Days, helping re-create the community atmosphere which was so prevalent prior to Covid. The online presence continued to be maintained, achieving an extraordinary 20,000+ viewings during the High Holy Days. To encourage the community to return to the Synagogue, a number of Shabbaton and Chavurah suppers were held and a start was made on improving the offering at kiddushim on Shabbat.

The LJS continues its strong commitment to music as an integral part of services, education programmes, community events and heritage. The professional and members’ choirs, both led by Director of Music, Cathy Heller Jones, were welcomed back to our magnificent Sanctuary and continue to provide music for each service.

Spirituality highlights during 2022:

Learning

The LJS continues to provide a wealth of opportunities for life-long learning from nursery age to adult. The LJS Nursery received a visit from Ofsted towards the end of the year and Head Teacher Caroline Villiers and all others associated with the Nursery were delighted that it was again rated as ‘Outstanding’.

Sadly, the Rimon Head Teacher, trainee Rabbi Matt Turchin, had to leave to continue his studies. This provided an opportunity to consider how Rimon might be run in the future, to the greater benefit its pupils. It was decided to create two new part-time positions, with Susannah Alexander becoming Rimon Head Teacher and Rabbi Elana Dellal the Rimon Rabbinic Lead. It was anticipated that this new team would provide an excellent balance of religious and education expertise and help move Rimon forward, and this has proved to be the case.

Having already established online learning for adult education, classes continued to be delivered by this means, attracting a wider and more diverse audience. Rabbi Dr Michael Hilton continued as Scholar in Residence and his course Judaism and Islam: A Shared History , attracted wide interest and participation both from within the community and further afield.

Learning highlights during 2022:

3

The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Community

The LJS reopened fully following Covid and re-established a wide range of social and cultural activities, bringing enjoyment as well as pastoral care to those in need. Through the efforts of Community Care Co-ordinator, Aviva Shafritz, the Rabbis and a loyal group of over 150 volunteers, regular contact and support were offered to those in urgent need, and a range of weekly, monthly and annual events took place. Video & Tea, Singing for the Mind and the Out & About club were quickly re-established, the annual Keep In Touch tea party was held and a new project co-ordinator, Hannah Tickle, was engaged to support the Drop-in for Asylum Seeker Families. The Drop-in quickly re-established itself and achieved record numbers of both clients and volunteers. A Magic Evening was held for the first time as a fundraiser and to increase community involvement. The LJS also works in partnership with local organisations to provide public benefit for the isolated, elderly and disabled and for asylum-seeking families. When feasible, we also offer selected charities the opportunity to hire rooms at the LJS at a preferential rate, to host their own gatherings and meetings.

Volunteers

Volunteers are at the heart of the Synagogue’s activities, and Gaby Lazarus assumed the role of Volunteering Co-ordinator during the year to work to regain some of the momentum lost through Covid restrictions on activity and necessary alterations to methods of working. Members also volunteer to act as trustees and to sit on a wide range of committees and working groups, where they use their experience and knowledge to help the LJS deliver, maintain and support its membership and infrastructure.

Working in partnership

The LJS is the flagship synagogue of the Liberal Judaism (LJ) movement, which is the umbrella organisation of Liberal and Progressive synagogues in the UK and parts of Europe. Financial support is provided to the movement and, following issues encountered by LJ in its continued use of the Montagu Centre in central London, it now has a home at the LJS. Through LJ, the LJS also supports Leo Baeck College, which is the primary academic and education institution for European Progressive Judaism, where many Progressive rabbis are trained.

The LJS is also proud to provide a home for the West Central London Chavurah Club. This was formed by the remaining members of West Central Synagogue following its closure and holds a monthly chavurah at the LJS. This maintains the traditions associated with that synagogue.

The LJS is a member of the European Union of Progressive Judaism and the World Union for Progressive Judaism. Ties with these have become closer following the war in Ukraine. It is also a member of the Board of Deputies of British Jews, the body which represents the UK Jewish community. Five members of the congregation serve as representatives, two of them representing younger members, and they play an active part in determining Board policy.

Public benefit

In addition to its religious and educational aims, the LJS functions as a centre for communal activities to which both members and the wider community are regularly welcomed. 2022 was a year of re-establishment and growth. The magnificent organisers and volunteers have returned to the Synagogue with extra enthusiasm and drive. Activity and social events during 2022 included the Out & About Club, which provides fortnightly entertainment for elderly, disabled, and often isolated, members of the local community. Singing for the Mind, a weekly group led by a professional singing leader, is for those with memory problems and moderate dementia, and their carers. The LJS continued to organise a monthly Drop-in for Asylum Seeker Families for over 170 adults and their children. Members and Friends give financial help and donate food and clothing as well as giving their time. The annual Keep In Touch tea party continues to go from strength to strength.

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The LJS supports interfaith understanding through initiatives such as the annual interfaith Chanukkah event . In addition to its own activities, the LJS works with neighbouring churches and mosques, meeting regularly with religious leaders to discuss issues of local and national concern or interest.

The Trustees have had regard to the guidance issued by the Charity Commission concerning public benefit. They are satisfied that the information given in this report, particularly regarding the activities undertaken in conjunction with the objectives of the charity, demonstrate that the requirements to identify public benefit have been met.

Community highlights during 2022:

Sustainability

Sustainability is not just about the future of the organisation; the LJS is also committed to the wider world and to the future of our planet.

Led by the Social Action Committee, the LJS initiates and participates in numerous activities within the community and beyond to improve sustainability. We seek to help reduce emissions which both impact on our environment and contribute to global warming; reduce the use of plastics and waste of all kinds, and reduce the use of finite resources.

The office team led by the Executive Director, continues to work closely with the Rabbis, Honorary Officers and Council to make the Synagogue a vibrant and eco-friendly hub for the community. The LJS is now part of the Eco-Synagogue network and the Council is committed to the environmental audit. The education programmes go from strength to strength both in Rimon and Adult Education, which should lead to increased numbers of knowledgeable and committed members keen to support the future of the Synagogue. Several capital projects have been undertaken which have helped the Synagogue become more efficient. For example, the upgrade of the heating system has ensured that electricity usage can be controlled more carefully, leading to lower usage.

The financial sustainability of the LJS is dependent upon the contribution of membership fees and other funding. A significant number of Members and Friends pay specially agreed reduced rates. No one is ever excluded by their inability to pay.

Sustainability highlights during 2022:

5

The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Fundraising

The LJS aims to achieve best practice in the way in which it communicates with supporters especially vulnerable individuals. It takes care with both the tone of its communications and the accuracy of its data. The Synagogue adheres to the Fundraising Regulator’s Code of Fundraising Practice. Applying best practice to protect supporters’ data, it never sells or swaps data with other organisations and ensures that communication preferences can be changed at any time. The LJS manages its own fundraising led by the President and Members and Friends who volunteer, together with administrative support by the staff team. All fundraising activities are approved and supervised by the Honorary Officers and Council. The LJS does not employ professional fundraisers. The LJS undertakes to react to and investigate any complaints regarding its fundraising activities, to learn from them and improve its service. During 2022, the charity received no complaints about its fundraising activities.

Fundraising in support of others

Each year, LJS Members and Friends support four charities through the annual High Holy Day Appeal: one Anglo Jewish, one based in Israel, one UK non Jewish charity, and the United Jewish Israel Appeal (UJIA). 2022 was a remarkable year, despite all the challenges created by Covid and economic conditions, and the £70,000 raised exceeded the outstanding amount received in 2021. The LJS also collects voluntary contributions to the UK Board of Deputies of British Jews, as well as making an annual grant contribution of over £90,000 to support the movement for Liberal Judaism.

Plans for 2023

The LJS is looking forward to an exciting 2023. It is now entering the second year of its three-year strategy, ‘Reaching our Goals’, having successfully completed, and in some cases exceeded, its Year 1 targets.

Having had to react to the impact of the Covid pandemic over the previous three years, the LJS is looking forward to continuing to rebuild attendances and building on existing work whilst organising new and innovative events. However, the current economic climate is challenging and what we do must take into account the resources that are likely to be available to us. The initial focus will be on consolidation, while sustainable plans are developed for the future.

Highlights for 2023

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance, and management

Governing document and organisational structure

The Liberal Jewish Synagogue is a company limited by guarantee (company number 09113305) governed by its Memorandum and Articles of Association dated 31 October 2014. This limited company was also registered as a charity (charity number 1159292) with the Charity Commission in November 2014. Prior to incorporation the LJS was an unincorporated charitable organisation.

The members of the Council act as Trustees and administer the charity and also act as the Directors of the charitable company. The Council can have up to 19 members and meets monthly (except August). Wherever possible, the Chairs of the main Council committees are Council Members. All committees and working groups meet on a regular basis and provide recommendations to the Council for decision-making. The Council appoints an Executive Director to act in stewardship and manage the day-to-day running of the organisation. The Executive Director has delegated authority, as approved by the Trustees, for operational matters.

Appointment of Trustees

The charity is a religious institution, and there is a requirement to be of the Jewish faith to be a Member. Only Members of The Liberal Jewish Synagogue can be elected to the Council. Trustees (Council members) are elected by the members of the LJS by a show of hands at the Annual General Meeting. Trustees are elected for a maximum of two, three-year terms. Any Trustee who has served two terms cannot stand for re-election until at least one more year has passed.

The Council elects from its members a Chairman, Honorary Treasurer and any other positions, as agreed by Council, to constitute the Honorary Officers. Council delegates the running of the organisation to the Honorary Officers, subject to their overall supervision and monitoring of the financial position.

Trustee induction and training

Training for Trustees is by practice, encouragement to attend appropriate courses, and informal mentorship from other Trustees. Before standing for election, members are encouraged to serve on committees. New Trustees are given an induction pack comprising a copy of the Charity Commission ‘Welcome Pack for New Trustees’, a copy of the LJS Articles, the minutes of at least three Council meetings and a Charity Trustee form stating that they acknowledge and accept their responsibilities as Trustees, which they must sign and return. They also attend briefing sessions.

Related parties and co-operation with other organisations

None of our Trustees receives remuneration or other benefit from their work as a Trustee for the charity without approval. Only expenses incurred in the performance of Trustees’ duties can be reimbursed. Any connection between a Trustee or a member of staff of the charity must be disclosed to the Council in the same way as any other contractual relationship with a related party.

In the current year, any related party transactions are reported in Note 19 to the accounts. Council is careful to monitor for any potential conflict of interest and respond accordingly.

Financial review

The results for the financial year to 31 December 2022 reflect the impact both of the Covid-19 pandemic and the downturn in the economy on our costs and regular sources of income and investment portfolio. Whilst our income was down compared to 2021 (£2,004,913 v £2,097,360), it must be borne in mind that the LJS received an exceptional £250,000 legacy in 2021. Despite tight control on our expenditure, it has increased in 2022 from 2021 (£1,867,187 v £1,842,689). When considering the economic environment this could have been worse.

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Overall we made an operating surplus (£137,726) thanks to some very generous donations, membership fees, income generated by activities and careful budgeting. However the economic conditions did have an impact on our investment portfolio showing a reduction in value of £302,897. However this is a ‘paper’ loss and would only genuinely impact the synagogue if the investments were realised. A long term view is taken on our investments and our Investment Committee carefully monitor the actions of our investment managers and the ongoing trend in the markets.

The charitable activities income has increased indicating that the Synagogue has become a thriving community again, with religious and community events taking place largely at pre-Covid levels. Our commitment to delivering our charitable aims is not only maintained, but reinforced as we work to achieve what will be the new normal. During the year, our Members and Friends continued their generous support of the LJS and we also benefited from the continuing support of external donors such as the Ernest Hecht Charitable Foundation (EHCF) and from the Eranda Trust which very generously provided support for both Community Care and the Asylum Seeker Drop-In.

Income

During 2022, unrestricted income, generated from membership fees, donations and charitable activities, was £1,756,503 (2021: £1,986,693). Although this is an overall fall of 12%, much of this can be explained by an extraordinary legacy in 2021. However there was a large increase in restricted funds thanks to some very generous donations during the year. Membership income increased by 2.5% despite fees not being increased whilst charitable activities (LJS Nursery, Rimon, funerals, venue hire) increased in 2022 from £568,094 in 2021 to £684,231 indicating the increased use of the synagogue.

The LJS is fortunate that some Members can make additional donations to assist those who are unable to pay their full membership fees. The President’s Patrons Fund, led by President Martin Slowe, also encourages Members to make an ongoing substantial financial commitment to support the sustainability of the LJS. The LJS is grateful for this continuing support, as well as from those who remember the LJS with legacies.

Many of our activities could not run without internal fundraising campaigns, external grants and the generosity of members. We are grateful to the continuing project funding provided by the Eranda Rothschild Foundation, Pears Foundation, and Ernest Hecht Charitable Foundation, whilst we received a very generous donation from an anonymous member for the pathways at the cemetery. The Ernest Hecht Charitable Foundation grant, as noted above, received in 2020 will be allocated to projects over the next ten years.

Expenditure

Our unrestricted costs increased from £1,769,183 in 2021 to £1,788,998 2022. This is not surprising considering both the economic climate and the increased use of the synagogue. Costs have been carefully monitored throughout the year with our use of electricity for example being reduced by almost a third.

In 2022, salaries, our largest overhead, increased by 0.8% to £839,020 (2021: £831,656).

Future

2022 represented a step change post Covid with the synagogue being used more extensively. In 2023 we aim to build on this success and introduce new events and new programmes to make the LJS a vibrant and buzzing community. During 2022, we were able to invest in the Synagogue’s long term sustainability by investing in its infrastructure, the heating project was completed, the electrical wiring was replaced, new pathways were laid at the cemetery and the building work began on the flats on the unused land adjacent to the cemetery at Pound Lane. We shall continue with our maintenance programme for the Synagogue and the cemetery. Our investments will continue to be monitored closely whilst we intend to review our governance and articles of association to ensure that the LJS has the appropriate governance for a modern charity.

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Investment policy

The Investment Committee, which is a sub-committee of the Finance Committee, includes the Honorary Treasurer and Members invited for their expertise and knowledge of finance and investments. Redmayne Bentley LLP, our investment managers, continued to follow the Council’s agreed policy of investing in ethical investments to achieve capital growth. During 2022 the value of listed investments decreased to £2,211,082 (2021: £2,542,224). This reflects the economic climate in 2022 and will impact 2023. However this decrease would only be released if the investments were sold. During the year a transfer of £180,000 cash was made from the investment managers to the LJS to support the cashflow, and in particular the large amount of capital expenditure made in 2021 and 2022. The investment committee is in regular contact with our investment managers and meets regularly to discuss the investments held and their performance. It should also be borne in mind that the LJS’s investment portfolio growth in recent years has been exceeding overall market growth and the decrease could be considered a reduction in profits made rather than a reduction in the initial investments.

Reserves policy

The policy of the Trustees is to maintain a level of reserves that will provide a stable base from which to fund the charity’s future activities, including capital expenditure. The target set is £450,000 which represents three months’ expenditure. As at 31 December 2022, the charity had free reserves of £1,554,581 (2021: £1,788,661), based on the general funds (Note 16) that could be drawn upon if required by the Trustees for specific purposes as agreed by them. If cash is required to meet our requirements, this can be realised from investments, including property. Details of both Unrestricted and Restricted Funds are summarised in Note 16 to the accounts.

The free reserves currently exceed the target level; the Trustees are mindful of the need to retain funds in reserve to fund both unforeseen costs and the ongoing maintenance costs of the synagogue’s premises. Given the anticipated level of work required in respect of the building over the coming years, the Trustees consider the level of reserves held to be reasonable and appropriate but will be looking to increase them if possible.

Risk management

The Trustees’ risk management strategy comprises:

The LJS Risk Register is regularly reviewed and updated by the Finance Committee, Honorary Officers, Council and the Executive Director. This register sets out the major risks to which the synagogue is exposed and the systems which have been established to mitigate those risks.

In 2022, the Trustees continued to recognise the risk to the LJS from Covid-19 and the potential impact it may have. 2022 was a more positive year as Covid receded, but the additional challenges of the economic climate meant large increases in costs. Long-term financial sustainability remains a major risk for the LJS. However, on a more positive note, the ‘Outstanding’ Ofsted rating should attract more families to the Nursery.

Internal financial management risks are reduced through the implementation of internal controls in respect of the recording and the authorisation of all accounting transactions. Budgets are set for all types of expenditure; these are monitored by senior management, the Finance Committee, Honorary Officers and the Council. Management accounts are produced on a quarterly basis. The Executive Director meets regularly with the Honorary Officers, and all financial details are regularly monitored by them. Attention is also focused on mitigating non-financial risks arising from safeguarding, fire, health and safety, security and vulnerable adult safeguarding which are monitored by committees and groups of volunteers. This is overseen by the senior management, Honorary Officers and the Council.

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The Liberal Jewish Synagogue TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Trustees’ responsibilities

The Trustees (who are also Directors of the Liberal Jewish Synagogue for the purposes of company law) are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the income and expenditure of the charitable company 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 charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of S418 of the Companies Act 2006.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Chris Godbold Chair.

10

The Liberal Jewish Synagogue STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

31 DECEMBER 2022

Note
INCOME FROM
Donations and legacies
2
Fundraising events
3
Investments
4
Charitable activities
5
Other Income
TOTAL INCOME
EXPENDITURE ON
Charitable activities
6
TOTAL EXPENDITURE
NET INCOME
(EXPENDITURE)
BEFORE INVESTMENT
(LOSSES) GAINS
NET (LOSSES) GAINS ON
INVESTMENTS
12
NET INCOME
(EXPENDITURE)
FOR THE YEAR
Transfers between
funds
16
NET MOVEMENT IN
FUNDS
RECONCILIATION OF
FUNDS
Total funds brought
forward
16
TOTAL FUNDS
AT 31 DECEMBER 2022		 Un-
restricted
Restricted
Endowment
Total
Un-
restricted
Restricted
Endowment
Total
funds
funds
funds
funds
funds
funds
funds
funds
2022
2022
2022
2022
2021
2021
2021
2021
£
£
£
£
£
£
£
£
907,454
238,462
–
1,145,916
1,301,037
103,797
–
1,404,834
2,697
–
–
2,697
3,892
–
–
3,892
162,121
–
9,948
172,069
82,591
–
6,870
89,461
684,231
–
–
684,231
568,094
–
–
568,094
–
–
–
–
31,079
–
–
31,079
1,756,503
238,462
9,948
2,004,913
1,986,693
103,797
6,870
2,097,360
1,788,998
77,406
783
1,867,187
1,769,183
70,508
2,998
1,842,689
1,788,998
77,406
783
1,867,187
1,769,183
70,508
2,998
1,842,689
(32,495)
161,056
9,165
137,726
217,510
33,289
3,872
254,671
(263,438)
–
(39,459)
(302,897)
344,143
–
49,048
393,191
(295,933)
161,056
(30,294)
(165,171)
561,653
33,289
52,920
647,862
127,849
(127,849)
–
–
16,600
(16,600)
–
–
(168,084)
33,207
(30,294)
(165,171)
578,253
16,689
52,920
647,862
7,613,181
418,741
345,683
8,377,605
7,034,928
402,052
292,763
7,729,743
7,445,097
451,948
315,389
8,212,434
7,613,181
418,741
345,683
8,377,605

11

The Liberal Jewish Synagogue STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022

Note
FIXED ASSETS
Tangible assets
10
Heritage assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS:Amounts falling due
within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Provisions for liabilities
15
NET ASSETS
CHARITY FUNDS
Restricted Funds
16
Endowment Funds
16
Unrestricted Funds
16
TOTAL FUNDS		 2022
£
£
5,083,953
54,450
2,912,911
8,051,314
275,756
429,561
705,317
(311,197)
394,120
8,445,434
(233,000)
8,212,434
451,948
315,389
7,445,097
8,212,434		 2022
£
£
5,083,953
54,450
2,912,911
8,051,314
275,756
429,561
705,317
(311,197)
394,120
8,445,434
(233,000)
8,212,434
451,948
315,389
7,445,097
8,212,434		 2021
£
£
4,967,065
54,450
3,333,549
8,355,064
227,680
595,935
823,615
(499,074)
324,541
8,679,605
(302,000)
8,377,605
418,741
345,683
7,613,181
8,377,605		 2021
£
£
4,967,065
54,450
3,333,549
8,355,064
227,680
595,935
823,615
(499,074)
324,541
8,679,605
(302,000)
8,377,605
418,741
345,683
7,613,181
8,377,605
8,051,314
394,120
8,445,434
(233,000)
8,212,434
451,948
315,389
7,445,097
8,212,434		 8,355,064
705,317
(311,197)		 823,615
(499,074)
324,541
8,679,605
(302,000)
8,377,605
418,741
345,683
7,613,181
8,377,605

The financial statements were approved by the Trustees on

Chris Godbold Chairman

and signed on their behalf by: David H Adams Honorary Treasurer

The notes on pages 14 to 26 form part of these financial statements.

12

The Liberal Jewish Synagogue STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Cash flows from operating activities
Net income/(expenditure) for the year
Adjustment for:
Depreciation charges
Interest and dividends (received)
Rent (received)
Net losses/(gains) on investments
Decrease in stock
(Increase)/decrease in debtors
(Decrease) in creditors
(Decrease) in pension costs provision
Net cash (received)/used in operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of investments
Proceeds from sale of investments
Dividend and interest receipts
Rent received
Net cash (received)/used in investing activities
Total Cash Flows
Cash and cash equivalents at 1 January 2022
Cash and cash equivalents at 31 December 2022
Cash at bank and short term deposits
Cash at bank and in hand
Cash held by investment managers
Cash and cash equivalents at 31 December 2022		 2022
£
(165,171)
65,753
(67,771)
(24,350)
302,897
-
(48,076)
(187,878)
(69,000)
(193,596)
(182,641)
(1,735,212)
1,763,458
67,771
24,350
(62,274)
(255,870)
707,258
451,388
429,561
21,827
451,388		 2021
£
506,516
51,077
(63,061)
(26,400)
(251,846)
429
275,181
(256,013)
(19,000)
216,883
(238,229)
(2,269,372)
2,145,745
63,061
26,400
(272,395)
(55,512)
762,770
707,258
595,935
111,323
707,258

13

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 ACCOUNTING POLICIES

1.1 Statement of compliance

The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Liberal Jewish Synagogue meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The accounts are presented in Sterling and are rounded to the nearest pound.

1.2 Company information

The Liberal Jewish Synagogue is a private company limited by guarantee and incorporated in England. Its registered office and principal place of business is 28 St John's Wood Road, London, NW8 7HA.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

The general fixed asset fund represents the net book value of tangible fixed assets and heritage assets which are not readily realisable in pursuit of the charity’s day-to-day operation.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Transfers between funds occur for a number of reasons including when funds are closed on completion of a project, when fixed assets are purchased or when Trustees decide to release funds from a designated fund.

1.4 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate.

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income from charitable activities relates mainly to fees received in respect of the LJS Nursery School, cemetery fees, and payments for books and materials for Rimon Religion School students, venue hire and synagogue activities.

Interest on funds held at the bank on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared. Interest and dividends from the investment portfolio are recognised on notification by our investment manager (Note 12).

14

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 ACCOUNTING POLICIES (continued)

Investment income relates to rental income (which is recognised when it comes due), income from an associated company (when it is received), and dividends and interest received in relation to fixed asset investments held by the charity.

1.5 Expenditure

Expenditure is accounted for on an accruals basis. Support costs, including governance costs, are allocated to charitable costs against two grouped strategic areas: Spirituality & Sustainability (90%) and Learning & Community (10%). Irrecoverable VAT is included with the expense item to which it relates.

Governance costs are the costs of providing information to and attendance at trustees' meetings and public accountability.

1.6 Going concern

The Trustees have reviewed the circumstances of the charity and consider that adequate resources continue to be available to fund the activities of the charity of the foreseeable future. The Trustees therefore consider that there are no material uncertainties about the charity's ability to continue as a going concern.

1.7 Tangible fixed assets and depreciation

The charity's freehold property comprises land and buildings including subsequent improvements to the property. Depreciation is not charged on the land element, which is instead subject to impairment review. No depreciation charge is made against the building and improvements as it is considered that the residual value of these is at least as great as the carrying value and not materially different to cost.

The charity operates a rolling repairs and maintenance programme to prolong the useful life of the property and to ensure that the above policy continues to be appropriate.

Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings: 4% to 20% Computer equipment: 25% to 33%

1.8 Heritage Assets

Heritage assets are assets of historical or religious importance that are held to further the preservation, conservation and education objectives of the synagogue and contribute to culture and activities. They are capitalised immediately on purchase or receipts of donation, and held at cost as depreciation is not considered to be material. The Trustees perform an annual impairment review and depreciation is charged only if significant impairment is found to have occurred.

1.9 Investments

Investments are a form of basic financial instrument. They are initially recognised at their transaction value and subsequently measured at their fair value as at the reporting date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Investment property is initially recognised at cost. After recognition, it is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised through profit or loss.

1.10 Stocks

Stocks are valued at the lower of cost and net realisable value on a first in first out basis.

15

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 ACCOUNTING POLICIES (continued)

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due.

1.12 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.13 Creditors

Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

1.14 Provisions for liabilities Provisions are made where an event has taken place that gives the charity a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to statement of financial activities in the year that the charity becomes aware of the obligation and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

Contingent liabilities are not recognised. They arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date, or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the charity's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow is remote.

When payments are eventually made, they are charged to the provision carried in statement of financial position.

1.15 Judgements in applying accounting policies 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 for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. The Trustees do not believe that the current COVID-19 pandemic will have a material impact, however, the nature of estimation means that actual outcomes could differ from those estimates.

Accruals:

The charity makes an estimate of accruals at the year-end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Tangible fixed assets:

Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are considered.

Provision for future pension costs:

The charity has made an estimate of the future costs required to fund the deficit on the pension scheme. The original provision was based on an actuarial valuation and re-evaluated in 2019. The provision is stated at that amount less subsequent payments made to reduce the liability.

In the interest of consistency, where we have made improvements to the layout or substance of the accounts we applied the same approach to the previous year (for comparative purposes). Presentational improvements do not affect the overall outcome.

16

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 DECEMBER 2022

2 INCOME FROM DONATIONS AND LEGACIES

Membership fees receivable
Donations
Restricted donations and
grants
Legacies
3
FUNDRAISING EVENT INCOME
Fundraising event income
4
INVESTMENT INCOME
Investment property rental
income
Blazer Court property income
Interest and dividends
receivable		 Unrestrict-
Restricted
Endow-
ment
Total
Unrestrict-
Restricted
Endow-
ment
Total
ed funds
funds
funds
funds
ed funds
funds
funds
funds
2022
2022
2022
2022
2021
2021
2021
2021
£
£
£
£
£
£
£
£
560,026
–
–
560,026
545,714
–
–
545,714
326,928
125,000
–
451,928
463,294
–
–
463,294
–
113,462
–
113,462
–
93,797
–
93,797
20,500
–
–
20,500
292,029
10,000
–
302,029
907,454
238,462
–
1,145,916
1,301,037
103,797
–
1,404,834
Unrestrict-
Restricted
Endow-
ment
Total
Unrestrict-
Restricted
Endow-
ment
Total
ed funds
funds
funds
funds
ed funds
funds
funds
funds
2022
2022
2022
2022
2021
2021
2021
2021
£
£
£
£
£
£
£
£
2,697
–
–
2,697
2,660
–
–
2,660
Unrestrict-
Restricted
Endow-
ment
Total
Unrestrict-
Restricted
Endow-
ment
Total
ed funds
funds
funds
funds
ed funds
funds
funds
funds
2022
2022
2022
2022
2021
2021
2021
2021
£
£
£
£
£
£
£
£
24,350
–
–
24,350
26,400
–
–
26,400
70,000
–
–
70,000
–
–
0
67,771
–
9,948
77,719
56,191
–
6,870
56,191
162,121
–
9,948
172,069
82,591
–
6,870
82,591

5 INCOME FROM CHARITABLE ACTIVITIES

Nursery school
Cemetery
Religion school
Venue hire
High Holy Day tickets
Other synagogue activities		 Unrestrict-
Restricted
Endow-
ment
Total
Unrestrict-
Restricted
Endow-
ment
Total
ed funds
funds
funds
funds
ed funds
funds
funds
funds
2022
2022
2022
2022
2021
2021
2021
2021
£
£
£
£
£
£
£
£
340,343
–
–
340,343
314,730
–
–
314,730
218,190
–
–
218,190
208,729
–
–
208,729
31,336
–
–
31,336
16,337
–
–
16,337
54,385
–
–
54,385
21,914
–
–
21,914
6,170
–
–
6,170
2,150
–
–
2,150
33,807
–
–
33,807
4,234
–
–
4,234
684,231
–
–
684,231
568,094
–
–
568,094

Other synagogue activities include book sales and wedding fees.

17

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6 CHARITABLE EXPENDITURE (Including Allocation of Support Costs)

CHARITABLE EXPENDITURE
Staff costs
Direct costs
Pension adjustment
Allocation of total support costs
Staff costs
Direct costs
Pension adjustment
Allocation of total support costs		 Spirituality &
Sustainability
Learning & Community
Unrestricted
Restricted
Total
2022
2022
2022
2022
£
£
£
£
304,841
366,848
9,028
680,717
365,132
55,362
68,378
488,872
(69,000)
–
–
(69,000)
689,938
76,660
–
766,598
1,290,911
498,870
77,406
1,867,187
Spirituality &
Sustainability
Learning & Community
Unrestricted
Restricted
Total
2021
2021
2021
2021
£
£
£
£
272,544
365,873
2,737
641,154
376,963
54,738
67,771
499,472
(19,000)
–
–
(19,000)
648,957
72,106
–
721,063
1,279,464
492,717
70,508
1,842,689

Pension payments above are specific to retired Rabbis and their spouses. The pension adjustment in 2022 is due to an actuarial re-evaluation of the liability for one of these pensions.

SUPPORT COSTS
Staff costs
Administration
Building and facilities
Legal and professional
Governance
Depreciation
Staff costs
Administration
Building and facilities
Legal and professional
Governance
Depreciation		 Administration,
building & facilities
Governance costs
Total Support
2022
2022
2022
£
£
£
282,348
–
282,348
200,568
–
200,568
148,905
–
148,905
–
42,080
42,080
–
26,943
26,943
65,754
–
65,754
697,575
69,023
766,598
Administration,
building & facilities
Governance costs
Total Support
2021
2021
2021
£
£
£
309,313
–
309,313
197,616
–
197,616
108,065
–
108,065
–
30,008
30,008
–
24,985
24,985
51,077
–
51,077
666,071
54,993
721,064

Support costs are allocated 90% to Spirituality & Sustainability and 10% to Learning & Community.

18

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7 AUDITOR'S REMUNERATION

The auditor's remuneration amounted to £12,000 (2021: £8,000).

8 ALLOCATION OF STAFF

The average monthly number of employees was 46 (2021: 46), 14 were full time (2021:12),

32 were part time (2021: 34). Of these, 25 are staff who work during term times as teachers in the LJS Nursery or the Rimon religion school. The LJS also offers young people the opportunity to work as teaching assistants in Rimon. They receive a stipend for each session they work.

The number of full-time equivalents was:
Spirituality and Sustainability
Learning & Community
Support
9
STAFF COSTS
Staff costs were as follows:
Wages and salaries
Employers' NIC
Other pension costs
The number of higher paid employees was:
In the band £60,001 - £70,000
In the band £70,001 - £80,000
In the band £90,001 - £100,000		 2022
2021
FTE
FTE
9.0
9.0
13.2
12.0
3.4
3.6
25.6
24.6
2022
2021
£
£
839,020
831,656
78,300
72,971
45,745
45,840
963,065
950,467
2022
2021
No.
No.
0
1
2
1
0
0

There are three key management personnel within the charity. During the year, they received remuneration of £247,509.98 (2021: £260,692) including salary, employers' NIC and employer's contribution to pension.

10 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
At 31 December 2022
At 31 December 2021		 Freehold
Cemetery
Fixtures
Computer
Asset under
property
improvements
and fittings
equipment
Construction
Total
£
£
£
£
£
£
4,477,426
-
454,881
24,271
231,222
5,187,800
155,256
26,085
1,300
–
182,641
4,477,426
155,256
480,966
25,571
231,222
5,370,441
–
–
200,474
20,261
–
220,735
–
15,525
48,096
2,132
–
65,753
–
15,525
248,570
22,393
–
286,488
4,477,426
139,731
232,396
3,178
231,222
5,083,953
4,477,426
-
254,407
4,010
231,222
4,967,065

19

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11
HERITAGE ASSETS
Cost
At 1 January 2022 and 31 December 2022		 2022
2021
£
£
54,450
54,450

The figure represents the cost of the Shoah Memorial which was designed by Anish Kappor and dedicated on 10 November 1996. The memorial is very important to the LJS and its members given the significance of the Holocaust to the Jewish experience of the 20th Century. In addition, the LJS holds a collection of paintings and other artefacts. These are not included in the balance sheet as historic cost information is not available and they are not considered to be of significant value to the open market, being of particular relevance to the LJS.

12
FIXED ASSET INVESTMENTS
Market Value
At 1 January 2022
Additions
Disposals(proceeds: £1,763,458; realised
losses: £199,402)
Unrealised gains on investments
At 31 December 2022
Cash held by investment manager
At 31 December 2022		 Investment
Listed
Unlisted
Property
Securities
Securities
Total
£
£
£
£
680,000
2,542,224
2
3,222,226
–
1,735,213
–
1,735,213
–
(1,962,860)
–
(1,962,860)
–
(103,495)
–
(103,495)
680,000
2,211,082
2
2,891,084
–
21,827
–
21,827
680,000
2,232,909
2
2,912,911

A transfer of £180,000 took place from the LJS’s investment managers to the LJS.

FIXED ASSET INVESTMENTS
Market Value
At 1 January 2021
Additions
Disposals(proceeds: £2,145,745; realised
gains: £39,770)
Unrealised gains on investments
At 31 December 2021
Cash held by investment manager
At 31 December 2021
Investments at fair value comprise:
Investment property
Listed investments
Surplus cash
Unquoted investments
Total investments		 Investment
Listed
Property
Securities
£
£
538,655
2,167,023
–
2,269,372
–
(2,105,975)
141,345
211,804		 Unlisted
Securities
Total
£
£
2
2,705,680
–
2,269,372
–
(2,105,975)
–
353,149
680,000
2,542,224
–
111,323		 2
3,222,226
–
111,323
680,000
2,653,547		 2
3,333,549
2022
2021
£
£
680,000
680,000
2,211,082
2,542,224
21,827
111,323
2
2
2,912,911
3,333,549

The unquoted investment is in Eljayess Enterprises Limited, a wholly owned subsidiary of the LJS, which did not trade during the year. Blazer Court Limited is an associated company created to service the residential property above the synagogue through resident management charges. This has not been consolidated as it is not a beneficially owned company.

20

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13
DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income
14
CREDITORS
Amounts falling within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
15
PROVISION FOR LIABILITIES
At 1 January 2022
Increase/(Decrease) in pension provision
At 31 December 2022		 2022
2021
£
£
49,795
47,137
35,238
39,322
190,723
141,222
275,756
227,680
2022
2021
£
£
66,343
147,199
19,603
20,518
95,525
110,030
129,726
221,327
311,197
499,074
2022
2021
£
£
302,000
321,000
(69,000)
(19,000)
233,000
302,000

The pension provision shown above was adjusted in 2022 due to an actuarial re-evaluation of the liability for one pension. The provision was calculated in accordance with the provisions under FRS 102 and represents unfunded pension liabilities outside of a pension scheme.

21

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 DECEMBER 2022

16
STATEMENT OF FUNDS
Unrestricted Funds 2022
Designated Funds:
Cemetery Improvement Fund
Dr Max Hulbert Legacy Fund
Olga Field Fund
Rosa Mintz Legacy Fund
LJS Building Renewal Fund
General Legacy Fund
General Funds
General Fixed Asset Fund
Total Unrestricted Funds
STATEMENT OF FUNDS
Unrestricted Funds 2021
Designated Funds:
Cemetery Improvement Fund
Dr Max Hulbert Legacy Fund
Olga Field Fund
Rosa Mintz Legacy Fund
LJS Building Renewal Fund
General Legacy Fund
General Funds
General Fixed Asset Fund
Total Unrestricted Funds		 At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2022
in/ out
(Losses)
2022
£
£
£
£
£
£
–
–
–
–
–
–
128,016
–
–
–
–
128,016
162,123
–
–
–
–
162,123
32,478
–
–
–
–
32,478
299,730
–
–
–
–
299,730
418,887
20,500
–
–
–
439,387
1,041,234
20,500
–
–
–
1,061,734
1,788,661
1,736,002
(1,723,245)
16,600
(263,438)
1,554,580
4,783,286
(65,753)
111,249
–
4,828,782
7,613,181
1,756,502
(1,788,998)
127,849
(263,438)
7,445,097
At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2021
in/ out
(Losses)
2021
£
£
£
£
£
£
7,007
42,300
(14,586)
(34,721)
–
–
128,016
–
–
–
–
128,016
162,123
–
–
–
–
162,123
32,478
–
–
–
–
32,478
44,730
–
–
255,000
–
299,730
381,858
292,029
–
(255,000)
–
418,887
756,212
334,329
(14,586)
(34,721)
–
1,041,234
1,444,353
1,652,364
(1,703,520)
51,321
344,143
1,788,661
4,834,363
(51,077)
–
–
4,783,286
7,034,928
1,986,693
(1,769,183)
16,600
344,143
7,613,181

Unrestricted Funds 2022

Designated Funds:

Dr Max Hulbert Legacy Fund: the income arising from this unrestricted fund is used for publications and the intellectual promotion of Liberal Judaism.

Olga Field Fund: is currently used to further the religious and charitable work of the LJS in relation to the elderly Members of the community but is not restricted to this purpose.

Rosa Mintz Legacy Fund: the income arising from this unrestricted fund is utilised as agreed to support Nursery, Youth and Education activities.

LJS Building Renewal Fund: the synagogue building is now 29 years old. This unrestricted fund, established in 2017, will be used to fund building refurbishment projects to maintain the fabric and functionality of the synagogue.

General Legacy Fund: Chosen legacies (depending on the ongoing Synagogue finances or unless they are restricted) are allocated to this unrestricted fund and used to support the religious and charitable work of the synagogue.

22

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16 STATEMENT OF FUNDS (continued)

Restricted Funds 2022
Care for the Community Fund
David Goldstein Library Fund
Drop in for Asylum Families
Education Fund
Ministers' Discretionary Fund
Out and About Club
Peggy Lang Publications Fund
President’s Cup Fund
Rabbi J Rayner Bibliography Fund
Restaurant Tuesday
Singing for the Mind
Taxi Fund
EHCF Fund
Angela Ferst Fund
Cemetery resurfacing fund
Total Restricted Funds
Restricted Funds 2021
Care for the Community Fund
David Goldstein Library Fund
Drop in for Asylum Families
Education Fund
Ministers' Discretionary Fund
Out and About Club
Peggy Lang Publications Fund
President’s Cup Fund
Rabbi J Rayner Bibliography Fund
Restaurant Tuesday
Singing for the Mind
Taxi Fund
EHCF Fund
Angela Ferst Fund
Total Restricted Funds		 At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2022
in/ out
(Losses)
2022
£
£
£
£
£
£
25,556
36,500
(2,030)
–
–
60,026
5,564
(91)
–
–
5,473
95,984
55,690
(57,423)
–
–
94,251
2,591
–
(145)
–
–
2,446
8,654
1,600
(1,365)
–
–
8,889
22,385
17,329
(8,107)
–
–
31,607
5,503
–
–
–
–
5,503
4,069
–
–
–
–
4,069
4,670
–
–
–
4,670
8,888
530
(216)
–
–
9,202
797
1,813
(7,866)
8,400
–
3,144
3,170
(164)
–
–
3,006
229,000
–
(25,000)
–
204,000
1,910
–
–
–
1,910
-
125,000
–
(111,249)
–
13,751
418,741
238,462
(77,406)
(127,849)
–
451,948
At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2021
in/ out
(Losses)
2021
£
£
£
£
£
£
16,375
10,000
(819)
–
–
25,556
5,014
550
–
–
–
5,564
64,817
84,285
(53,118)
–
–
95,984
2,591
–
–
–
–
2,591
7,956
1,842
(1,144)
–
–
8,654
23,386
3,395
(4,396)
–
–
22,385
5,503
–
–
–
–
5,503
4,069
–
–
–
–
4,069
2,552
2,118
–
–
–
4,670
8,909
300
(321)
–
–
8,888
1,800
1,307
(10,710)
8,400
–
797
3,170
–
–
–
3,170
254,000
–
(25,000)
–
229,000
1,910
–
–
–
1,910
402,052
103,797
(70,508)
(16,600)
–
418,741

Restricted Funds 2022

Care for the Community Fund: the fund is used for Members most in need.

David Goldstein Library Fund: this fund is to be used for books and equipment for the LJS Library.

23

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16 STATEMENT OF FUNDS (continued)

Drop-in for Asylum Families: this fund was created for donations received to support the LJS Drop-in for Asylum Families. Funded entirely by donations, the monies raised support this project on an ongoing basis.

Education Fund: this fund supports youth and educational activities and was formed by the amalgamation of the Celia Rapp Fund, Theodore Goodman Fund, John Haggard Memorial Fund, Louis P Jacobs Prize Fund, Marsden Family Fund.

Ministers' Discretionary Fund: this fund is for donations given for our Rabbis to use at their discretion to support the charitable objects of the synagogue.

Out & About Club: is a community initiative which provides food and entertainment fortnightly for local elderly and disabled people. Funded entirely by donations, the monies are used to support the club on an ongoing basis. Peggy Lang Publications Fund: the fund was created to support publications in furtherance of Liberal Judaism.

President's Cup Fund: this fund provides for an annual prize to the young person showing the greatest commitment to the community.

Rabbi J Rayner Bibliography: this fund is to finance an LJS Research Fellow to undertake scholarly research into the sermons and lectures of Rabbi John Rayner and to facilitate the dissemination of his thoughts and writing. Restaurant Tuesday: this fund is used to provide a monthly meal for elderly Members and visitors.

Singing for the Mind: this fund is used to enable people with memory problems or dementia to come together to sing. This includes Members and Non-members, local and London-wide. Funded entirely by donations, the group meets weekly, using the monies raised for its ongoing professional support costs.

Taxi Fund: this fund finances the cost of taxis to and from the synagogue for the elderly or infirm who are unable to afford private transport but depend on it to get to the synagogue for religious services and other activities.

EHCF Fund: this designated fund has been established from a gift given by the Ernest Hecht Charitable Foundation to be used over the next ten years to fund the Singing for the Mind programme and to fund activities and projects that promote online learning, religious observance and community events for children and elderly, isolated or disabled adults. Monies will be allocated annually to the specified projects and programmes.

Angela Ferst Fund: this fund was set up in 2016 following a specified legacy to buy prayer books for the community. Cemetery resurfacing fund: this fund was set up following a specific donation to complete resurfacing works at the Liberal Jewish Cemetery.

Endowment Funds 2022
Angela Ferst Cemetery Fund
Total Endowment Funds
Endowment Funds 2021
Angela Ferst Cemetery Fund
Total Endowment Funds		 At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2022
in/ out
(Losses)
2022
£
£
£
£
£
£
345,683
9,948
783
–
(39,459)
315,389
345,683
9,948
783
–
(39,459)
315,389
At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2021
in/ out
(Losses)
2021
£
£
£
£
£
£
292,763
6,870
(2,998)
–
49,048
345,683
292,763
6,870
(2,998)
–
49,048
345,683

Angela Ferst Cemetery Endowment Fund: the estate of Angela Ferst has bequeathed a fund towards the maintenance of the Ferst family graves at the LJS Cemetery. Established in 2019, income generated from the investment of this fund may be used for the maintenance of the cemetery only.

24

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16 STATEMENT OF FUNDS (continued)

SUMMARY OF FUNDS 2022

SUMMARY OF FUNDS 2022
Unrestricted Funds
General Funds
General Fixed Asset Fund
Restricted Funds
Endowment Funds
SUMMARY OF FUNDS 2021
Unrestricted Funds
General Funds
General Fixed Asset Fund
Restricted Funds
Endowment Funds		 At 1
At 31
At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2022
in/ out
(Losses)
2022
£
£
£
£
£
£
1,041,234
20,500
–
–
–
1,061,734
1,788,661
1,736,003
(1,723,245)
16,600
(263,438)
1,554,581
4,783,286
–
(65,753)
111,249
–
4,828,782
7,613,181
1,756,503
(1,788,998)
127,849
(263,438)
7,445,097
418,741
238,462
(77,406)
(127,849)
–
451,948
345,683
9,948
(783)
–
(39,459)
315,389
8,377,605
2,004,913
(1,867,187)
–
(302,897)
8,212,434
At 1
At 31
January
Income
Expenditure
Transfers
Gains /
December
2021
in/ out
(Losses)
2021
£
£
£
£
£
£
756,212
334,329
(14,586)
(34,721)
–
1,041,234
1,444,353
1,652,364
(1,703,520)
51,321
344,143
1,788,661
4,834,363
–
(51,077)
–
–
4,783,286
7,034,928
1,986,693
(1,769,183)
16,600
344,143
7,613,181
402,052
103,797
(70,508)
(16,600)
–
418,741
292,763
6,870
(2,998)
–
49,048
345,683
7,729,743
2,097,360
(1,842,689)
–
393,191
8,377,605

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Heritage assets
Investments
Current assets
Creditors due within one year
Provisions for liabilities		 Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
Funds
Funds
2022
2022
2022
2022
2021
£
£
£
£
5,083,953
–
–
5,083,953
4,967,065
54,450
–
–
54,450
54,450
2,145,574
451,948
315,389
2,912,911
3,333,549
705,317
–
–
705,317
823,615
(311,197)
–
–
(311,197)
(499,074)
(233,000)
–
–
(233,000)
(302,000)
7,445,097
451,948
315,389
8,212,434
8,377,606

25

The Liberal Jewish Synagogue NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18 COMMITMENTS UNDER OPERATING LEASES

As at 31 December 2022, the charity had future minimum lease payments under non-cancellable operating leases for office equipment as follows:

leases for office equipment as follows:
Not later than 1 year
Later than one year but less than five years		 2022
2021
£
£
15,722
15,382
31,079
46,802
46,801
62,184

19 TRUSTEES REMUNERATION AND RELATED PARTIES

None of the Trustees received remuneration during 2022. One trustee was reimbursed £810.75 for expenses incurred. During the year, a number of trustees made donations to LJS. The aggregate value of these donations was £123,046. One of the Trustees (tenure now complete) is the Vice Chair of Liberal Judaism, the umbrella organisation for all Liberal Jewish synagogues. The LJS makes an annual contribution on behalf of Members to Liberal Judaism: £100,038 in 2022 (2021: £94,000). The LJS also received rental income of £25,000 from Liberal Judaism, which was offset against the contribution made.

20 CORPORATION TAX

As a charity, the LJS is exempt from UK tax on income and gains to the extent that these are applied to its charitable objects. No UK tax charges have arisen in the charity, during 2022 or in the previous year.

26

The Liberal Jewish Synagogue INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LIBERAL JEWISH SYNAGOGUE FOR THE YEAR ENDED 31 DECEMBER 2022

Opinion

We have audited the financial statements of the Liberal Jewish Synagogue (the ‘charitable company’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (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’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report and financial statements. 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

27

The Liberal Jewish Synagogue INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LIBERAL JEWISH SYNAGOGUE FOR THE YEAR ENDED 31 DECEMBER 2022

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company 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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

28

The Liberal Jewish Synagogue INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LIBERAL JEWISH SYNAGOGUE FOR THE YEAR ENDED 31 DECEMBER 2022

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

29

The Liberal Jewish Synagogue INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE LIBERAL JEWISH SYNAGOGUE FOR THE YEAR ENDED 31 DECEMBER 2022

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

12 June 2023

Edward Finch (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

30