**Charity number 1160487 Company number: 09349392** 

The Northwood and Pinner Liberal Synagogue 

Directors' report and financial statements 

For the year ended 31 March 2024 



|**Contents**|**Page**|
|---|---|
|Legal and administrative information|1|
|Directors' report|2-10|
|Independent auditor's report to the members|11-15|
|Statement of financial activities|16|
|Statement of financial position|17|
|Statement of cash flows|18|
|Accounting Policies|19-22|
|Notes to the financial statements|23-32|





**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

The name of the Company is The Northwood and Pinner Liberal Synagogue Limited, known as The Ark Synagogue, a Company Limited by Guarantee. Company number 09349392 incorporated 10 December 2014. 

**President** Spencer Cowan **Vice Presidents** Brian Sass Barbara Kohn Sharon Goldstein 

## **Directors** 

The directors who served during the year were as follows: 

**Date Elected** Susan Boobis 23 April 2015 (Chair) (resigned 1 November 2023) Laurence Blake 5 July 2023 (Chair) (from 1 November 2023) Michael Woodcock 14 December 2021 (Treasurer) Richard Colin 1 January 2018 Joanne Davis 1 October 2020 Sherif Kahky 1 October 2020 (resigned 1 November 2023) Susan Whaley 1 October 2020 Diana Rose 26 January 2022 Nicola Connor 7 December 2022 Christopher Stump 9 January 2023 

## **Board Secretary (non-trustee)** 

Susan Boobis 1 November 2023 

## **Rabbis** 

Aaron Goldstein – Senior Rabbi Lea Mühlstein – Senior Rabbi Dr Andrew Goldstein – Emeritus Rabbi 

**Principal and Registered Office** 18-24 Oaklands Gate, Green Lane, Northwood, HA6 3AA 

## **Charity Number** 1160487 

**Bankers** Barclays Bank PLC, 128 Moorgate, London, EC2M 6SX **Auditor** Nyman Libson Paul LLP, 124 Finchley Road, London NW3 5JS 

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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **DIRECTORS’ REPORT** 

The Directors/Trustees present their report and the audited financial statements of The Northwood and Pinner Liberal Synagogue Limited (“the Company”) for the year ended 31 March 2024. The company is a registered charity and constituted as a company limited by guarantee. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Company’s Memorandum and Articles of Association dated 10 December 2014, the Charities Act 2011 and the Charities SORP FRS 102. 

The Board of Trustees confirm they have had regard to the Charity Commission’s guidance on public benefit, and have complied with their duty under section 4 of the Charities Act 2021 when reviewing the charity’s aims and objectives and in implementing current and future planning activities. The charity was established by a group from the Wembley area who, becoming aware that an increasing number of younger people were moving into Pinner and Northwood, recognised the potential for the development of a new community in that area. Originally based in Pinner, the community moved to premises in Hallowell Road, Northwood in 1966 and to the present purpose-built premises in 1980. The charity was originally established as an unincorporated association Northwood and Pinner Liberal Synagogue (registered charity number 243618) which transferred the whole of its undertaking to the Company with effect from 1 April 2015 with the registered name of _The Northwood and Pinner Liberal Synagogue._ 

In 2020, the Company undertook a strategic review which resulted in a decision to rebrand. On 1 January 2021 the Company changed its working name to _The Ark Synagogue (in this document also referred to simply as The Ark),_ but the legal name remains unchanged. 

## **Structure** 

The Company is Limited by Guarantee number 09349392 and is registered as a Charity number 1160487. 

## **Governance and management; recruitment and appointment of trustees** 

The governance of the Company is the responsibility of the Board (the members of which are also the trustees of the charity), which is elected by The Ark’s members at an Annual General Meeting. At each Annual General Meeting not less than half of Board members retire from office, depending on length of service, and are eligible to stand for re-election. The Memorandum and Articles of Association (hereafter referred to as the Articles; revised and approved at an Extraordinary Meeting in September 2022) provide for a minimum of four and a maximum of 13 Board members of whom four constitute a quorum. The Board is responsible for all matters relating to the Company. 

The Board meets at least six times a year and agrees all matters relating to the functions of The Ark, its broad strategy, and areas of activity, including: 

- the level of subscriptions payable by its members; 

- annual income and expenditure budgets; 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

- 

   - the allocation of its resources; 

- overseeing the admission of applicants who fulfil the requirements of membership. Following revision of the Articles, this has been delegated to the New Membership Team; 

- the employment of professional and support staff; 

- risk management policies and performance; and 

- the appointment of committees and working groups. 

The day-to-day administration of The Ark is delegated to several committees and working groups, but the Board retains overall control and management of the administration of the Company. The major committees are generally represented on and/or report to the Board on a regular basis and cover most aspects of The Ark's activities including its religious affairs, finance, risk, and membership. The Treasurer reports quarterly. 

In addition, the Honorary Officers, consisting at time of writing of the Chair and Honorary Treasurer, meet with the clergy team each month to discuss strategic questions as well as setting the agenda for the Board meeting. The Chair meets weekly with senior office staff to consider issues related to the day-to-day running of the synagogue, and how they relate to the strategic direction. 

## **Induction and training of Board members** 

Prior to nomination, the Chair meets with prospective Board members to brief them about the role and the expectations and responsibilities of the position. Following appointment, new Board members are introduced to their role and given copies of the Articles and a guide to the policies and procedures adopted by the Company. Publications from the Charity Commission are also provided, including guidance on charities and public benefit and on the advancement of religion for public benefit. This ensures that new Board members are aware of the scope of their responsibilities under the Charities Act. All board members receive regular safeguarding training. We also encourage attendance at trustee development training sessions offered by local organisations. 

Board members are recruited to and provide leadership on specific roles such as finance, educational matters, safeguarding and social action. 

## **Risk management** 

The Board members are responsible for ensuring that The Ark has a risk framework that assesses, identifies, and manages the risks to which it may be exposed. The principal risk is a significant fall in subscription income and a secondary risk is a material drop in investment income. 

When setting the subscription rates for the following year the Board takes into consideration the economic outlook and the rate of inflation and is mindful of congregants’ ability to pay. For those who feel they have an inability to pay the full amount, the situation is proactively managed by the subsidy team who work with the Treasurer to find a solution. This often results in a member paying a significant part of the fee and then setting up a deferred payment arrangement for the balance.   We have not seen any material change to the number of congregants needing a subsidy over the last several years. 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

Our investments are conservatively managed by an independent external wealth adviser, Rathbones, and a larger amount is held on an investment platform, Insignis. The money at Rathbones is split between a diversified multi asset medium risk portfolio and a money market fund. The money at Insignis is held in a number of money market funds and no single investment is higher than the limit set by the Financial Services Compensation Scheme, currently £85,000. We review all investments regularly and have meetings with our nominated Relationship Manager at Rathbones. Additionally we monitor the financial position of our investments at both Rathbones and Insignis through online portals. 

We have a Finance Committee made up of four members including the Treasurer with  investment and financial expertise who meet three or four times a year to discuss the proposed budget including proposed changes in subscription, changes in investment strategy and any other issues which may arise. 

We have a Risk Committee, including the current Chair and Treasurer, which reviews all risks to the synagogue, including financial. All committees are required to identify risks and their mitigation as part of their Terms of Reference. The Board confirms that the above process - in particular, insurance cover - is in place and the finances of The Ark are kept under review. Health and safety issues are routinely appraised and appropriate training and action taken. 

The Ark makes appropriate Disclosure and Barring Service (DBS) checks for Board members and such others (members and staff who work with children or other vulnerable groups within The Ark) as the synagogue is required to check in accordance with best practice. Safeguarding policy and procedures are regularly reviewed and updated and overseen by the Safeguarding Committee and Board members are given appropriate safeguarding training. 

## **Aims and objectives** 

## _Our aims_ 

The objects of the Company are set out in its Articles of Association and are summarised below: 

- ▪�The advancement of Liberal Judaism; 

- ▪�Providing, maintaining and carrying on a place of worship and arranging to conduct religious services; 

- ▪�Providing, arranging for and conducting religious education; 

- ▪�Providing for the solemnisation of marriages; 

- ▪�Providing for burial and cremation; 

- ▪�Providing communal, cultural activities and care in the community; 

- ▪�Performing such other religious rites and charitable duties as the Board from time to time determines. 

## _Our objectives_ 

Since its foundation in 1964, The Ark Synagogue has grown to be the second largest constituent member of Liberal Judaism and the largest outside central London, with membership levels being maintained year on year in contrast to a more general trend discerned in British Jewish mainstream groupings. By the end of November 2022 membership was 1098 adults and 163 children and junior members under 21 years of age as reported to the Board. 

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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

The Ark provides a comprehensive range of services and activities in accordance with its objectives. Our objectives are set to reflect our faith and community aims. Each year the Board members review our objectives and activities to ensure that they continue to reflect our aims. In carrying out this review, the Board members have considered the Charity Commission’s general guidance on public benefit, and in particular its supplementary public guidance on the advancement of religion for the public benefit. 

## **How our activities deliver public benefit** 

The Company carries out a wide range of activities in pursuance of its charitable aims. The Directors consider that these activities, summarised below, provide benefit both to those who worship at The Ark Synagogue and the wider community of Northwood and Pinner. 

## _Religious activities_ 

The Ark provides a centre for our prayers and worship and for the activities associated with the practice of Liberal Judaism. During the year under review, we offered a range of religious services and activities including: 

_Prayers:_ The Ark provides weekly Friday night and Saturday morning Shabbat services. All services are hybrid, enabling members to attend in person or to watch through digital streaming. 

_Festivals:_ All festivals are celebrated with special services and on Passover, a communal meal is prepared for those who wish to celebrate a second Seder night. 

_Funeral services:_ In satisfaction of the historical religious obligation placed upon every Jewish community to be able to bury its deceased members in a Jewish cemetery and the qualifying requirement of Liberal Judaism to provide funeral facilities, the synagogue provides, through The Ark's Burial, Cremation and Funeral Expenses Scheme, a complete funeral service for its members, which relieves the deceased’s bereaved relatives of the burden of organising funerals and burials or cremations. 

_Marriage and bar/bat mitzvahs:_ The Ark provides an appropriate location for both civil and religious marriage, and for the celebration of bar/bat mitzvahs. 

## _Jewish education_ 

The Ark is proud to offer lifelong learning opportunities for members of all ages (with many of the programmes also open to members of other Jewish communities and the general public). All our adult learning programmes can be accessed online (either offered exclusively online or hybrid). These include: 

_Cheder_ : Our cheder welcomes children from reception class to the end of year 10 and offers both Jewish Studies and Hebrew classes. We are proud that most of the graduates of our cheder join our teaching team, serving as role models to the next generation. Our young teachers are supported by a team of more mature teachers who have been part of our synagogue community for many years, ensuring continuity and familiarity. 

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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

_Exploring Judaism:_ This course, which provides the foundational knowledge of Judaism, is primarily attended by those wishing to convert to Judaism but is also open to members simply wishing to brush up on their Jewish knowledge. 

_Hebrew for Adults:_ We were fortunate to be able to offer weekly classes for four different levels of Hebrew knowledge providing learning opportunities for newcomers to Hebrew as well as those with advanced knowledge. 

_Jewish Studies for Adults:_ Throughout the year, we offer a range of adult Jewish Studies options both as mini-series and as one-off events focused primarily on current affairs and noteworthy dates in the calendar. 

## _Outreach activity_ 

A significant part of the work of our synagogue is directed beyond the membership of our synagogue. 

_Inter-faith dialogue:_ The Ark supports the Hillingdon Interfaith Network and its events and responds to requests for participation in the other local areas where the Synagogue is seen as the primary Jewish contact. The Ark Synagogue rabbis are active in additional interfaith initiatives. 

_Educational outreach activities:_ The Ark works together with local schools and community groups, such as the Scouts, to educate the wider community about Judaism and the life of a synagogue. We welcome these groups for educational visits to the sanctuary of our synagogue and our rabbis are regular guest speakers in schools and at events organised by community groups. 

_Social and cultural activities:_ Our Osorio Hall serves as a gallery, which is open to the public. It hosts the work of contemporary artists who are either local to the area or who have other ties with the synagogue. The gallery also provides a pleasant setting for other social and cultural activities held in the same space. Our lunchtime recitals, open to the public, are held in the sanctuary to allow the option to stream these to a less able and worldwide audience. 

## _Yom Kippur Appeal_ 

Each year, the Yom Kippur Appeal is made to the whole membership. A number of charities are chosen by the Board under the categories of local charities, Jewish charities and Israeli charities. Some of the money received also goes to the Rabbis’ Discretionary Fund (RDF), which provides financial assistance to members in need. By 31 March 2024 our 2023 Yom Kippur Charity Appeal had received £35,245, which was distributed among the previously selected local, Jewish and Israeli charities and the RDF. 

## _Pastoral and Caring Services_ 

The Ark seeks to offer care and support to its members of all ages, particularly in the event of crisis and need. The synagogue employs a trained Care Coordinator who leads a team of volunteers who support fellow members. The team has launched several initiatives to provide support for the older members of the community. These activities have continued and flourished both in person and on Zoom. We have 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

also introduced Shared Reading and Film Club sessions, both of which have also proved popular. The Care Team has been recognised by winning the Jewish Volunteer Network Award in 2018. 

The synagogue's Bereavement Support Group (BSG) offers visits by trained volunteers in the period following the death of a close relative, to help the bereaved through the difficult times. In recognition of its outstanding achievement in this work, BSG holds the Queen’s Award for Voluntary Service. 

The synagogue's clergy team gives pastoral support to members by telephone or in person, making visits to homes, hospices and hospitals. 

## **Our people** 

## _Our Rabbis_ 

The Ark is very fortunate to have a young, energetic and extraordinarily committed clergy team, supported during services by our Music Director, Ruth Colin, and the choir members and musicians. Both Senior Rabbis Aaron Goldstein and Lea Mühlstein demonstrate creativity and initiative in enhancing and developing the provision of services and activities for our members. As well as their communal roles, Rabbi Aaron leads on pastoral support, Care, and Jewish diaspora affairs, while Rabbi Lea leads on Education and on Israel affairs. Since 1 January 2020, Rabbi Mühlstein has also been responsible to the Board for the running of the synagogue office and caretaking team. Our emeritus Rabbi Dr Andrew Goldstein supports the Senior Rabbis and his good reputation locally and internationally is a source of pride to the community. 

Our Rabbis have national and international leadership roles that have greatly enhanced the reputation and profile of The Ark both in the UK and abroad. 

## _Our Board_ 

Laurence Blake was appointed as Chair following the AGM in November 2023 and Michael Woodcock remains as Honorary Treasurer. The Board comprises eight members, and we will continue to review our strategic needs and appoint additional members to cover essential roles where necessary. 

## _Our staff_ 

The Ark is fortunate to attract members of staff who demonstrate commitment to the aims and values of the community well beyond the act of going to work each day. The Board recognises the value that The Ark’s staff bring to the synagogue and thank them for their hard work and dedication to excellence. 

## _Our volunteers_ 

The Ark has a culture in which many of our activities are conducted by volunteers. With growing demands on business and personal life, members find it increasingly difficult to commit time to The Ark. We continuously seek new means of volunteer engagement within our membership to increase involvement, use members’ expertise effectively and avoid the need to increase the cost of providing services. Without the efforts of so many people, The Ark would not be able to continue its work at the volume, complexity, and diversity from which all our members and visitors benefit. 

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## **The Northwood and Pinner Liberal Synagogue** 

## **Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Financial review** 

## _Reserves policy_ 

It is the policy of the Board to endeavour to maintain unrestricted and designated funds to meet a minimum of six months expenditure on the management of synagogue activities and administrative costs. At 31 March 2024 those defined reserves were £928,594 and the defined expenditure was £747,166. The reserves therefore represent 15 months expenditure (2023 - 16 months). Restricted funds are kept at a level sufficient to meet the demands of those Funds disclosed in note 15 to the financial statements. The Board has resolved to ring-fence the legacies received in a separate Designated Reserve Fund with a view to these being used for strategic purposes to ensure the future of the community in years to come. 

## _Principal funding sources_ 

The Ark raises most of its funds from its members' subscriptions and through fundraising activities, legacies and donations. The level of subscriptions income remained stable. 

## _Expenditure and net movements in funds_ 

The Budget for the forthcoming year includes provision for increased inflationary costs. 

The Statement of Financial Activities on page 16 shows funds brought forward £5,006,181 and funds at year end of £5,107,959, therefore net movement in funds for the year of £101,778 (2023 - £17,920). This comprises restricted funds of £102,299 (2023: £83,877), designated funds of £1,011,175 (2023: £1,004,621) and unrestricted funds of £3,994,485 (2023: £3,917,683). This is in line with the Budget for the year, after allowing for provisions released, unbudgeted income, and increases in investment income and restricted funds. 

## _Investment policy_ 

As a result of legacies, the Ark has a surplus of funds for investment. 45% of total investments are held with an independent wealth manager. Around half of that is held in a diversified multi-asset portfolio which is benchmarked to a basket of indices and is performing in line with the Trustees expectations. The balance is held in a number of money market funds. Liquidity is maintained for refurbishment and other improvements. 

We were able to facilitate a five-year interest-bearing loan to Liberal Judaism (LJ) for the purchase of a woodland burial plot. 

## **Future plans and challenges** 

The Ark is a successful and stable congregation, and we endeavour to enhance and extend our programmes and activities to respond to the needs of our members. While the UK Jewish population is ageing, the average age of members at The Ark has remained constant and this is because of the changes we have made to attract younger members with families. We continue to review and think about our subscription model and activities to ensure that we continue to offer a membership that will engage all age groups. 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

A particular success has been our use of technology to provide streaming of both our services and other activities (e.g. Jewish education) that enables members and supporters to take part in or follow them wherever they are based. We intend to keep monitoring best practice in this area to ensure that our streaming remains of the highest quality. 

In April 2023, Liberal Judaism and The Movement for Reform Judaism announced that they will be working together to create one single unified Progressive Jewish movement for the UK. By coming together, the combined movements will represent one third of all Jews who are affiliated to synagogues in the UK and will be better able to reach out to all those who identify as Jewish but have not yet joined a community. Work is ongoing as to what exactly the combined movement will look like and we expect a formal proposal will be forthcoming in early 2025. As one of the largest and most active synagogues in Liberal Judaism, The Ark would like to be involved in discussions that will create the framework for the new Progressive Judaism movement. 

## **Directors’ responsibilities in relation to the financial statements** 

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

The law applicable to Companies in England and Wales requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the incoming resources and application of resources of the Company for that period. In preparing these financial statements the Directors are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material 

- departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume 

- that the Company will continue in business. 

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charity (Financial Statements and Reports) Regulations 2008 and the provisions of the Memorandum and Articles of Association. They 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. 

In so far as the Directors are aware: 

- There is no relevant audit information of which the Company’s auditors are unaware; and 

- The Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

The Directors are responsible for the maintenance and integrity of the Charitable and financial information included on the Synagogue’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial information may differ from legislation in other jurisdictions. 

The Directors who are also Trustees for the purposes of charity law who served during the year and up to the date of this report are set out on page 1. 

## **Signature and declaration** 

I declare in my capacity of Company Director and Trustee that the Board have approved this report and authorised me to sign on their behalf. 

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Dated:Laurence Blake43-20(Chair)¢ J Dated:Laurence >Blake+324(Chair)a Dated:<br>Laurence Blake (Chair)<br>Dated:<br>**----- End of picture text -----**<br>


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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Independent auditor's report to the members of The Northwood and Pinner Liberal Synagogue** 

## **Opinion** 

We have audited the financial statements of The Northwood and Pinner Liberal Synagogue (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. 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: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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 directors' 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 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 directors 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 other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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 

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## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

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. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our 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 Report of the Board of Trustees and Accounts. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the Report of the Board of Trustees and Accounts. 

## **Responsibilities of directors** 

As explained more fully in the Directors’ responsibilities statement set out on page 9 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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that 

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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

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: 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following: 

- the nature of the industry and sector, control environment and business performance; 

- results of our enquiries of management about their own identification and assessment of the risks of irregularities; 

- any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: 

   - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud 

   - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; 

   - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to timing of income recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. 

We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act. 

In addition, we considered other laws and regulations that could have an effect on the company and result in the imposition of financial or other penalties and litigation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance. 

All matters in relation to non-compliance with laws and regulations and potential fraud risks were communicated to all members of the engagement team and we remained alert to any indications of non-compliance throughout the audit. 

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**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

Our procedures to respond to risks identified included the following: 

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- enquiring of management concerning actual and potential litigation and claims; 

- assessing the appropriateness and where appropriate with third parties concerning actual and potential litigation and claims; 

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- reading minutes of meetings of those charged with governance and correspondence with HMRC; 

- in addressing the risk of fraud through management override of controls, reviewing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 

We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

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. 

14 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **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 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Andrew Thomas (Senior Statutory Auditor)** 

for and on behalf of 

## **Nyman Libson Paul LLP** 

Chartered Accountants 124 Finchley Road London NW3 5JS Date: 27 August 2024 

15 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

|**Statement of Financial Activities**<br>**Note**<br>**Income and endowments from:**<br>Donations and legacies<br>2<br>Other trading activities<br>3<br>Investments<br>3a<br>Charitable Activities<br>3b<br>**Total income and endowments**<br>**Expenditure on:**<br>Charitable Activities<br>4<br>**Total expenditure**<br>**Other recognised gains/(losses):**<br>Gains/(losses) on investments<br>7b<br>**Net income/(expenditure)**<br>Transfer between funds<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2024**<br>**Total**<br>**2023**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>710,238<br>54,259<br>764,496<br>696,083<br>4,983<br>-<br>4,983<br>3,094<br>75,891<br>-<br>75,891<br>44,803<br>26,268<br>-<br>26,268<br>20,470|
|---|---|
||817,380<br>54,259<br>871,638<br>764,450|
||747,166<br>41,275<br>788,441<br>752,982|
||747,166<br>41,275<br>788,441<br>752,982|
||18,581<br>-<br>18,581<br>6,452<br>88,794<br>12,984<br>101,778<br>17,920<br>(5,438)<br>5,438<br>-<br>-|
||83,357<br>18,422<br>101,778<br>17,920|
||4,992,304<br>83,877<br>5,006,181<br>4,988,261|
||5,005,661<br>102,299<br>5,107,959<br>5,006,181|



16 



The Northwood and Pinner Liberal Synagogue 

Directors Report and Financial Statements for the year ended 31 March 2024 

## Registered number: 09349392 

## Statement of Financial Position as at 31 March 2024 

|||2024||2023|
|---|---|---|---|---|
||Note|£<br>£|£|£|
|Fixed assets|||||
|Tangible assets|7a|3,462,351||3,475,866|
|Investments|7b|525,206||506,923|
|Social Loan|7c|89,510||-|
|||4,077,067||3,982,789|
|Current assets|||||
|Investments|8|630,515|417,354||
|Debtors|9|71,756|55,800||
|Cash atbankand in hand||449,870|757,795||
|||1,152,141|1,230,949||
|Creditors:amountsfallingduewithin<br>one year|10|(82,249)|(117,557)||
|Netcurrentassets||1,069,892||1,113,392|
|||5,146,959||5,096,181|
|Creditors:amountsfallingdueafter<br>more thanone year|14|(15,000)||(15,000)|
|Provisions|12|(24,000)||(75,000)|
|Netassets|13|5,107,959||5,006,181|
|Funds|||||
|Restricted Funds|14|102,299||83,877|
|Designated Funds|15|1,011,175||1,004,621|
|Unrestricted Funds|15|3,994,485||3,917,683|
|Totalfunds||5,107,959||5,006,181|
|1D<br>nus<br>j<br>Thefinancial statementswereapproved bythedirectorson pereaelGUSN 94and|||andsignedon|ontheir|
|behalfby|||||
|_t/<br>L<br>j3f<br>a|||||
|Laurence Blake|||||
|Chair|||||



17 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

|**Statement of Cash Flows**<br>**Cash generated from operating activities**<br>Net Income for the year<br>Adjustments for:<br>Depreciation charges<br>(Increase)/Decrease in Debtors<br>Increase/(Decrease) in Creditors<br>Increase/(Decrease) in Provisions<br>Gains on investments<br>Dividends, interests and rents from investments<br>Investment management charges<br>**Net cash from operating activities**<br>**Cash flows from investing activities**<br>Dividends, interests and rents from investments<br>Investment management charges<br>Proceeds from sale of investments<br>Purchase of investments<br>Social investment loan<br>**Net cash from investing activities**<br>**Change in cash and cash equivalents in the period**<br>Cash and cash equivalents brought forward<br>**Cash and cash equivalents carried forward**<br>Cash at bank<br>Cash awaiting investment|**2024**<br>**2023**<br>**£**<br>**£**<br>101,778<br>17,920<br>13,514<br>13,565<br>(105,466)<br>(23,509)<br>(35,309)<br>54,542<br>(51,000)<br>-<br>(18,581)<br>(6,453)<br>(32,125)<br>(6,350)<br>4,200<br>1,526|
|---|---|
||(122,989)<br>51,241|
||29,456<br>1,996<br>(4,200)<br>(1,526)<br>87,306<br>14,036<br>(114,296)<br>(481,286)<br>89,510<br>-|
||87,776<br>(466,780)|
||(35,213)<br>(415,539)<br>791,016  1,206,555|
||755,803<br>791,016|
||449,870<br>305,933<br>755,803|



18 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Accounting Policies** 

## **1.1 General information** 

The Northwood and Pinner Liberal Synagogue is a charitable company limited by guarantee, incorporated in England and Wales. Its registered office and principal place of business is 18-24 Oaklands Gate, Green Lane, Northwood, HA6 3AA. The members of the company are the Directors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 

## **1.2 Basis of Preparation of the financial statements** 

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 – January 2019) (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The Northwood and Pinner Liberal 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 note. 

## **1.3 Preparation of the financial statements on a going concern basis** 

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

## **1.4 Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Subscription income is recognised over the membership year (April to March), starting from the date of receipt. 

Gift Aid claimable in relation to qualifying donations received is recognised at the time of the donation 

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. 

Rental income is recognised over the period in which it is earned. 

Income from legacies are recognised when probate is granted. 

19 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **1.5 Expenditure** 

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. The charity is not registered for VAT and accordingly expenditure includes any VAT which cannot be recovered and is included in the relevant costs in the statement of financial activities. 

Rabbinic and direct synagogue expenditure comprise the costs associated with attracting voluntary income, the costs of trading for fundraising purposes and 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 are those costs incurred directly in support of expenditure on the objects of the charity. 

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 

## **1.6 Fund accounting** 

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

Designated funds comprise unrestricted funds that have been set aside by the Directors 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 subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

## **1.7 Pensions** 

The Synagogue operates a workplace pension scheme in respect of its employees and contributes to the personal pension plans of certain employees. The pension cost charge represents contributions payable by the charity to those pension plans. 

## **1.8 Tangible fixed assets and depreciation** 

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: 

Computer equipment 

- 33% per annum on a straight line basis Furniture and fixtures - 10% per annum on a reducing balance basis 

No depreciation is provided on the religious regalia, which are Torah Scrolls, as they are heritage assets. The exact age of these items is not known but they are believed to be between 80 and 200 years old. They are all used regularly in religious services. 

20 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

In 2014 the Synagogue commissioned the creation of a new lightweight Torah Scroll. The scroll was completed in 2015. As the expected life of the new Scroll is anticipated to be at least similar to that of the Synagogue’s other scrolls no depreciation is provided. 

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. 

## **1.9 Taxation** 

The Synagogue is registered as a charity and is not liable to United Kingdom income or corporation tax on its income from charitable activities as they are applied wholly to charitable objectives. 

## **1.10 Investments** 

Current asset investments are initially recorded at cost at the date of acquisition. Listed investments are revalued to market value at the reporting date based on publicly traded prices. 

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet 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. 

## **1.11 Debtors** 

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 

## **1.12 Cash at bank and in hand** 

Cash at bank and cash 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 and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

21 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **1.14 Financial Instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **1.15 Foreign currency translation** 

## **Functional and presentation currency** 

The Company's functional and presentational currency is GBP. 

## **Transactions and balances** 

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. 

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. 

Exchange gains and losses are recognised in the statement of financial activities. 

## **1.16 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. However, the nature of estimation means that actual outcomes could differ from those estimates. 

The charity is not required to make any significant estimates or judgements in preparing the financial statements. 

22 



## **The Northwood and Pinner Liberal Synagogue** 

## **Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements** 

## **2. Donations and legacies** 

|Subscriptions<br>Tax recoverable on subscriptions<br>Board of Deputies<br>Legacies and general donations<br>Refurbishment<br>Designated Legacy Fund<br>Grant Received<br>Ukraine - Lviv and Lutsk<br>Care<br>William Walford Grant - Educational<br>Rabbi Discretionary Fund<br>Music and Religion<br>Czech and Slovak fund<br>Bereavement fund<br>Etz Hayim (Gallery)<br>YKA current year appeal<br>HMD Fund<br>AV Fund<br>Events<br>Funeral Expenses scheme<br>Sundry<br>Total 2023|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>523,073<br>-<br>523,073<br>510,680<br>115,896<br>-<br>115,896<br>95,643<br>-<br>6,885<br>6,885<br>7,038<br>33,631<br>-<br>33,631<br>12,249<br>810<br>-<br>810<br>810<br>12,500<br>-<br>12,500<br>58<br>3,700<br>-<br>3,700<br>1,089<br>-<br>3,459<br>3,459<br>5,100<br>-<br>1,948<br>1,948<br>5,558<br>-<br>3,425<br>3,425<br>520<br>-<br>3,039<br>3,039<br>13,981<br>-<br>-<br>-<br>-<br>-<br>200<br>200<br>200<br>-<br>-<br>-<br>400<br>648<br>-<br>648<br>187<br>-<br>35,302<br>35,302<br>32,799<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>586<br>-<br>586<br>-<br>20,156<br>-<br>20,156<br>6,247<br>(761)<br>-<br>(761)<br>3,524|
|---|---|
||710,238<br>54,259<br>764,496<br>696,083|
||630,487<br>65,596<br>696,083|



## **3. Other Trading Activities** 

|Lettings<br>Advertising Davar<br>Total 2023|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>3,523<br>-<br>3,523<br>1,786<br>1,460<br>-<br>1,460<br>1,308|
|---|---|
||4,983<br>-<br>4,983<br>3,094|
||3,094<br>-<br>3,094|



23 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **3a. Investments** 

|**3a. Investments**||
|---|---|
|Small Hall letting<br>Interest Received<br>Total 2023<br>**3b. Charitable Activities Income**<br>Wedding and Bar/Batmitzvah fees<br>Education Income<br>Total 2023|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>35,680<br>-<br>35,680<br>35,000<br>40,211<br>-<br>40,211<br>9,803|
||75,891<br>-<br>75,891<br>44,803|
||44,803<br>-<br>44,803<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>14,646<br>-<br>14,646<br>13,377<br>11,622<br>-<br>11,622<br>7,093|
||26,268<br>-<br>26,268<br>20,470|
||20,470<br>-<br>20,470|



24 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **4a. Cost of Direct Charitable Activities** 

|**4a. Cost of Direct Charitable Activities**||
|---|---|
|Ministerial salary, pension and expenses<br>Religious Services<br>Education and development<br>Newsletter and publicity<br>Affiliation fee Liberal Judaism<br>Care<br>Flower fund<br>Bereavement<br>Ukraine - Lviv and Lutsk<br>Rabbi Dis Fund<br>Music and Religion<br>Clifford Hymans Trust<br>William Walford Grant Educational<br>Czech and Slovak<br>Judaica (Scroll)<br>HMD Fund<br>Board of Deputies<br>Funeral Expenses Scheme<br>Events and groups<br>YKA current year<br>Refurbishment Fund<br>Designated Legacy / New membership system<br>AV Fund<br>Total 2023|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>193,311<br>-<br>193,311<br>182,152<br>18,956<br>-<br>18,956<br>11,910<br>20,465<br>-<br>20,465<br>20,189<br>14,722<br>-<br>14,722<br>13,615<br>146,120<br>-<br>146,120<br>145,569<br>16,999<br>6,620<br>23,619<br>38,739<br>-<br>-<br>-<br>-<br>-<br>766<br>766<br>505<br>-<br>8,553<br>8,553<br>3,500<br>-<br>14,562<br>14,562<br>8,428<br>-<br>-<br>-<br>1,414<br>-<br>499<br>499<br>576<br>-<br>1,339<br>1,339<br>850<br>-<br>35<br>35<br>192<br>-<br>550<br>550<br>-<br>-<br>-<br>-<br>-<br>-<br>7,038<br>7,038<br>7,174<br>32,624<br>-<br>32,624<br>30,648<br>677<br>-<br>677<br>-<br>-<br>1,312<br>1,312<br>32,799<br>(35,524)<br>-<br>(35,524)<br>16,208<br>5,945<br>-<br>5,945<br>9,722<br>-<br>-<br>-<br>-|
||414,295<br>41,275<br>455,569<br>524,190|
||460,996<br>63,194<br>524,190|



25 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **4b. Support costs for Charitable Activities** 

|<br>Administration expenses including staff salaries<br>Premises<br>Bank charges<br>Management charges<br>Depreciation<br>Governance costs|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>171,330<br>-<br>171,330<br>128,631<br>130,423<br>-<br>130,423<br>74,440<br>1,664<br>-<br>1,664<br>1,711<br>4,200<br>-<br>4,200<br>1,525<br>13,514<br>-<br>13,514<br>13,565<br>11,740<br>-<br>11,740<br>8,920|
|---|---|
||332,872<br>-<br>332,872<br>228,792|



There were no expenses incurred on support costs in respect of restricted funds in the current or prior financial year. 

## **5. Auditor's Remuneration** 

The auditor's remuneration amounts to £11,740 (2023: £8,920). 

## **6. Staff costs** 

|Salaries and Wages<br>Social Security Costs<br>Pension costs|**2024**<br>**2023**<br>**£**<br>**£**<br>349,663<br>278,806<br>28,749<br>22,491<br>14,532<br>13,100|
|---|---|
||392,944<br>314,397|



No remuneration has been paid to or any expenses claimed by any trustees during the current or prior financial year. 

## **Number of employees** 

|Rabbis<br>Administration<br>Other<br>The number of higher paid employees was:<br>In the band £60,001 - £70,000<br>In the band £70,001 - £80,000|**2024**<br>**2023**<br>2<br>2<br>5<br>5<br>22<br>26|
|---|---|
||29<br>33|
||**2024**<br>**2023**<br>1<br>1<br>1<br>1|



There are two members of key management personnel within the charity. During the year, they received remuneration of £170,371 in total (2023: £155,895) including salary and employer’s contributions to national insurance and pensions. 

26 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **7a. Tangible fixed assets** 

|**Cost**<br>At 1 April 2023<br>Additions<br>At 31 March 2024<br>**Depreciation**<br>At 1 April 2023<br>Charge for the year<br>At 31 March 2024<br>**Net book values**<br>At 31 March 2024<br>At 1 April 2023<br>**7b. Fixed asset investments**<br>**Cost or valuation**<br>Brought forward<br>Additions<br>Disposals<br>Net movement in cash<br>Gains/(losses) on investments<br>At 31 March 2024|**Land and**<br>**Buildings**<br>**Freehold**<br>**Small**<br>**Hall**<br>**Fixtures,**<br>**Fittings &**<br>**Equipment**<br>**Religious**<br>**Regalia**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>3,000,000<br>420,000<br>66,191<br>35,846  3,522,037<br>-<br>-<br>-<br>-<br>-|**Land and**<br>**Buildings**<br>**Freehold**<br>**Small**<br>**Hall**<br>**Fixtures,**<br>**Fittings &**<br>**Equipment**<br>**Religious**<br>**Regalia**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>3,000,000<br>420,000<br>66,191<br>35,846  3,522,037<br>-<br>-<br>-<br>-<br>-|
|---|---|---|
||3,000,000<br>420,000<br>66,191<br>35,846  3,522,037||
||-<br>-<br>46,171<br>-<br>46,171<br>-<br>-<br>13,514<br>-<br>13,514||
||-<br>-<br>59,685<br>-<br>59,685||
||3,000,000<br>420,000<br>6,506<br>35,846  3,462,351||
||3,000,000<br>420,000<br>20,020<br>35,846  3,475,866||
|||**Listed**<br>**investments**<br>**Cash**<br>**Total**<br>**£**<br>**£**<br>**£**<br>473,702<br>33,221<br>506,923<br>114,296<br>(114,296)<br>-<br>(387,306)<br>387,306<br>-<br>-<br>(298)<br>(298)<br>18,581<br>-<br>18,581<br>219,273<br>305,933<br>525,206|



27 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

|**7c. Social Loan**<br>Loan to LJ|**2024**<br>**2023**<br>**£**<br>**£**<br>89,510<br>-|
|---|---|
||89,510<br>-|



The Social Loan is of £110,000 to Liberal Judaism (LJ) over 5 years with an interest rate of 3.5%. It was granted on 5th April 2023. 

|**8. Current Asset Investments**<br>Cash equivalent on deposit<br>**9. Debtors**<br>Subscriptions due<br>Gift Aid recoverable<br>Other debtors & prepayments||**2024**<br>**2023**<br>**£**<br>**£**<br>630,515<br>417,354|
|---|---|---|
|||630,515<br>417,354|
|||**2024**<br>**2023**<br>**£**<br>**£**<br>20,155<br>16,874<br>40,412<br>12,460<br>11,190<br>26,466<br>71,756<br>55,800|



## **10. Creditors: Amounts falling due within one year** 

|**10. Creditors: Amounts falling due within one year**||
|---|---|
|Taxation and social security<br>Other creditors and accruals<br>**11. Creditors: Amounts falling due after more than one year**<br> <br>Small Hall Deposit|**2024**<br>**2023**<br>**£**<br>**£**<br>12,071<br>9,472<br>70,178<br>108,085|
||82,249<br>117,557|
||**2024**<br>**2023**<br>**£**<br>**£**<br>15,000<br>15,000|
||15,000<br>15,000|



28 



**The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **12. Provisions** 

|**12. Provisions**||
|---|---|
|<br>Building repair works<br>Rabbi Sabbaticals|**2024**<br>**2023**<br>**£**<br>**£**<br>-<br>75,000<br>24,000<br>-|
||24,000<br>75,000|



## **13. Analysis of net assets between funds** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Long term liabilities|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total**<br>**2024**<br>**£**<br>**£**<br>**£**<br>3,426,505<br>35,846 3,462,351<br>614,716<br>-<br>614,716<br>1,085,689<br>66,452 1,152,141<br>(82,249)<br>-<br>(82,249)<br>(39,000)<br>-<br>(39,000)|
|---|---|
||5,005,661<br>102,299 5,107,959|



## **Analysis of net assets between funds (prior year)** 

|<br>Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Long term liabilities|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>3,440,020<br>- 3,440,220<br>506,923<br>-<br>506,923<br>1,182,918<br>83,877 1,266,795<br>(117,557)<br>-<br>(117,557)<br>(90,000)<br>-<br>(90,000)|
|---|---|
||4,922,304<br>83,877 5,006,181|



29 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **14. Restricted funds** 

|**14. Restricted funds**||
|---|---|
|Judaica (Scroll)<br>Ukraine - Lviv and Lutsk<br>Rabbis Discretionary<br>Music and Religion<br>Care<br>Clifford Hymans Trust<br>William Walford Grant Educational<br>Cheder Charity<br>Flower fund<br>Czech and Slovak<br>Bereavement<br>Frances Sacker Capital Fund<br>Board of Deputies<br>YKA<br>AV Fund|**Brought**<br>**forward**<br>**1 April**<br>**2023**<br>**Incoming**<br>**resources**<br>**Outgoing**<br>**Resources**<br>**Transfers**<br>**between**<br>**Unrestricted**<br>**Funds**<br>**Carried**<br>**forward**<br>**31 March**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>19,670<br>-<br>(550)<br>-<br>19,120<br>6,583<br>3,459<br>(8,553)<br>-<br>1,489<br>26,240<br>3,039<br>(14,562)<br>-<br>14,717<br>9,602<br>-<br>-<br>-<br>9,602<br>-<br>1,948<br>(6,620)<br>4,671<br>-<br>3,712<br>-<br>(499)<br>-<br>3,213<br>4,392<br>3,425<br>(1,339)<br>-<br>6,478<br>296<br>-<br>-<br>-<br>296<br>-<br>-<br>-<br>-<br>-<br>1,344<br>200<br>(35)<br>-<br>1,509<br>-<br>-<br>(766)<br>766<br>-<br>5,000<br>-<br>5,000<br>7,038<br>6,885<br>(7,038)<br>-<br>6,885<br>-<br>35,302<br>(1,312)<br>-<br>33,990<br>-<br>-<br>-<br>-<br>-|
||83,877<br>54,596<br>(41,275)<br>5,438<br>102,299|



|**Restricted funds (prior year)**<br>Judaica (Scroll)<br>Lviv Fund<br>Rabbis Discretionary<br>Music and Religion<br>Care<br>Clifford Hymans Trust<br>William Walford Grant Educational<br>Cheder Charity<br>Flower fund<br>Czech and Slovak<br>Bereavement<br>Frances Sacker Capital Fund<br>Board of Deputies<br>YKA<br>AV Fund|**Brought**<br>**forward**<br>**1 April**<br>**2022**<br>**Incoming**<br>**resources**<br>**Outgoing**<br>**Resources**<br>**Transfers**<br>**between**<br>**Unrestricted**<br>**Funds**<br>**Carried**<br>**forward**<br>**31 March**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>19,670<br>-<br>-<br>-<br>19,670<br>4,983<br>5,100<br>(3,500)<br>-<br>6,583<br>20,687<br>13,981<br>(8,428)<br>-<br>26,240<br>11,016<br>-<br>(1,414)<br>-<br>9,602<br>-<br>5,558<br>(7,756)<br>2,198<br>-<br>4,288<br>-<br>(576)<br>-<br>3,712<br>4,722<br>520<br>(850)<br>-<br>4,392<br>296<br>-<br>-<br>-<br>296<br>-<br>-<br>-<br>-<br>-<br>1,336<br>200<br>(192)<br>-<br>1,344<br>-<br>400<br>(505)<br>105<br>-<br>5,000<br>-<br>-<br>-<br>5,000<br>7,174<br>7,038<br>(7,174)<br>-<br>7,038<br>-<br>32,799<br>(32,799)<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|
||79,172<br>65,596<br>(63,194)<br>2,303<br>83,877|



30 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

**Judaica Scroll** – to purchase and maintain scrolls and Judaica for NPLS. 

**Lviv Fund** – to provide much needed financial support to help new progressive Jewish congregations in Eastern Europe. 

– **Rabbis Discretionary** available to the Senior Rabbi for small donations to other charities, support members and others, grants to members for training and attendance at conferences, seed funding for one –off initiatives which the Rabbis wish to support and for which there is no budget and other payments which the Senior Rabbi and either the Chairman or President agree are appropriate use of the fund. 

**Music** – to provide funds for the provision of music to enhance the religious and educational services of NPLS. 

**Care –** to provide care and support for members of all ages particularly in the event of crisis and need 

– **Clifford Hymans Trust** to provide assistance to adult members of NPLS to further their Jewish knowledge and to assist the synagogue in expanding its provision of adult Jewish education. 

**William Walford-Grant Educational** – to provide financial assistance to children and youth of NPLS to enable them to attend Liberal Jewish education activities in Britain, Israel and other countries. 

– **Cheder Charity** to support the NPLS religion school. 

**Flower Fund** – to pay for the provision of flowers and similar enhancements for synagogue services. 

**Czech and Slovak** – to support activities that aid our historical research into our “Torah” towns and gives aid to newly emerging communities in the Czech and Slovak Republics. 

**Bereavement** – to support the work of the NPLS Bereavement Support Group and on going training of its volunteers. 

– **Francis Sacker Capital Fund** to enhance the Etz Hayim Gallery and Arts at NPLS. 

– **Refugee Fund** to relieve hardship for refugees arriving in the UK 

**HMD fund** – to support Holocaust Learning UK ( formerly Northwood Holocaust Memorial Day Events) to run workshops for secondary school students to teach them the lessons of the Holocaust and the dangers of discrimination including hearing first hand testimony from Survivors 

– **Board of Deputies** these are contributions paid by members along with their annual subscriptions to be donated to the Board of Deputies of British Jews 

- – **Yom Kippur Appeal** Each year three charities are selected one a local charity, the second a UK Jewish charity and the third an International Jewish Charity allied with the values of Progressive Judaism  and the members are invited to donate to them. 

31 



## **The Northwood and Pinner Liberal Synagogue Directors Report and Financial Statements for the year ended 31 March 2024** 

## **Notes to the Financial Statements (cont’d)** 

## **15. Unrestricted funds** 

|<br>Funeral<br>Refurbishment<br>Designated Legacy<br>General fund<br> <br>**Unrestricted funds**<br>**(prior year)**<br> <br>Funeral<br>Refurbishment<br>Designated Legacy<br>General fund|**Brought**<br>**forward**<br>**1 April**<br>**2023**<br>**Incoming**<br>**resources**<br>**Outgoing**<br>**Resources**<br>**Transfers**<br>**(to) from**<br>**Restricted**<br>**Funds**<br>**Gain on**<br>**investments**<br>**Carried**<br>**forward**<br>**31 March**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>95,021<br>-<br>-<br>-<br>-<br>95,021<br>103,796<br>810<br>35,524<br>-<br>-<br>140,130<br>1,004,621<br>12,500<br>(5,945)<br>-<br>-<br>1,011,175<br>3,718,866<br>804,070<br>(776,745)<br>(5,438)<br>18,581<br>3,759,334|
|---|---|
||4,922,304<br>817,830<br>(747,166)<br>(5,438)<br>18,581<br>5,005,661|
||**Brought**<br>**forward**<br>**1 April**<br>**2022**<br>**Incoming**<br>**resources**<br>**Outgoing**<br>**Resources**<br>**Transfers**<br>**(to) from**<br>**Restricted**<br>**Funds**<br>**Gain on**<br>**investments**<br>**Carried**<br>**forward**<br>**31 March**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>95,021<br>-<br>-<br>-<br>-<br>95,021<br>119,193<br>810<br>(16,208)<br>-<br>-<br>103,795<br>1,014,283<br>58<br>(9,720)<br>-<br>-<br>1,004,621<br>3,680,592<br>697,986<br>(663,860)<br>(2,303)<br>6,452<br>3,718,867|
||4,909,089<br>698,854<br>(689,788)<br>(2,303)<br>6,452<br>4,922,304|



The Designated Legacy Fund reflects the specific wishes of deceased members for the funds to be used or long term benefit of members. 

## **16. Pension commitments** 

The Synagogue operates a workplace pension scheme in respect of its employees. The pension cost charge represents contributions payable by the charity to the scheme, together with payments to certain employees’ defined contribution personal pension schemes, amounted to £14,532 (2023: £13,100). At the reporting date, £1,635 (2023: £1,139) was outstanding and included within creditors falling due within one year. 

## **17. Related Party Transactions** 

There are no related party transactions in the reporting period that require disclosure. 

32