SHOFAR DAY CARE CENTRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| SHOFAR DAY CARE CENTRE | |
|---|---|
| (A Company Limited by Guarantee) | |
| Company registered number: 09395603 | |
| Charity registered number: 1160802 | |
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers 2 |
|
| Trustees' Report | 3-6 |
| Independent Auditors' Report | 7-10 |
| Statement of Financial Activities | 11 |
| Statement of Financial Position | 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14-20 |
SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
Rabbi Miriam Berger (resigned 15[th] April 2024) Anna Brownlie Caronne Graham (appointed 22 March 2024) Mark Harris (resigned 22 March 2024) Paul Israel (resigned 15 April 2024) Rosalind Levenson Rabbi Josh Levy (resigned 15 April 2024) Judith Levy (appointed 15 April 2024) Michele Saffer
Company registered number
09395603
Charity registered number
1160802
Registered office
The Sternberg Centre for Judaism 80 East End Road London N3 2SY
Auditors
Nyman Libson Paul LLP
124 Finchley Rd London NW3 5JS
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of Shofar Day Care Centre for the year ended 31 December 2024.
The Financial Statements comply with the Companies Act 2006, the Memorandum and Articles of Association and 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 the Republic of Ireland (FRS102) (effective 1 January 2015), as amended by Update Bulletin 2 (effective 1 January 2019).
Objectives and Activities
a. Policies and objectives
The objectives of the charity are to:-
A) Advance the development and education of children primarily under the age of five, in particular by establishing and running a childcare nursery which promotes the ethos and values of Reform Judaism. B) Advance religion by teaching, practising and promoting the beliefs and practices of Reform Judaism C) Provide charitable support and assistance to The Movement for Reform Judaism, Finchley Reform Synagogue, North Western Reform Synagogue and to Leo Baeck College (or any successor bodies) for so long as such organisations are charitable in accordance with English Law, and
D) Undertake or support such other ancillary and incidental exclusively charitable purposes as the trustees in their absolute discretion think fit.
In shaping the objectives of the charity, the trustees have considered the Charity Commission's guidance on public benefit.
Achievements and performance
a. Review of activities
The nursery offers a range of activities including those that embrace Jewish learning and festivals.
For Shofar it was another successful year, through excellent management of children numbers and classes.
The nursery continues to prioritise the retention of quality permanent staff to support its children and continues to pay the London Living Wage to all staff. Shofar encourages continued professional development of staff.
The future plans and development of the nursery remain consistent with the previous years and are to continue to maintain a full complement of children across all age groups. Offering excellent care, education and community through well-qualified staff, with core Jewish values. To offer values-based rather than rules based introduction to Judaism, through the 3 prisms – Community, Ritual and Practice and Jewish Values and to be as inclusive as possible.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
FINANCIAL REVIEW
a. Going concern
At the reporting date the charity held £899,397 (excluding refundable deposits) compared to £801,236 in 2023, in cash and short term investments, and had net current assets of £703,669 compared to £636,170 in 2023, all of which was unrestricted. The projected net surplus for the next 12 months is around £106k. The projected normal expenditure for the next 12 months is £1,440k which means current reserves would cover four months if no income was available. This is in line with the charity’s current reserve policy of 4 months expenditure being held in reserves together with appropriate development and fixed asset reserves.
The Trustees have reviewed the circumstances of the charity and consider that resources continue to be available to fund the activities of the charity for the foreseeable future.
Accordingly, the trustees consider it appropriate to continue to adopt the going concern basis in preparing its financial statements.
b. Reserves policy
Since inception the charity has focused on raising funds to finance the opening and improvement of the Centre but is now in a position to set aside funds to build a reserve.
The Trustees have considered the risks faced by the charity and have taken appropriate steps to address the related issues.
The current reserves policy of the trustees is to have enough reserves to cover at least four months expenditure, projected specific repairs and maintenance costs and repairs driven by lease obligations.
The total reserves are £971,794, (£938,034 in 2023). Unrestricted reserves are £802,163, (£786,503 in 2023) and designated reserves are £169,631 (£151,531 in 2023). After deducting fixed assets of £268,125 (2023: £301,864), the level of free reserves held by the charity is £534,038 (2023: £484,639). This is in line with the charities reserves policy highlighted above with 4 months running costs in the year equating to £445,694 (2023: £423,195)
Attention has also been focused on non-financial risks arising from fire, health and disaster recovery. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for staff working in these operational areas.
c. Financial performance
During the year the charity received £1,519,512 of income, (£1,432,164 in 2023). Expenditure on charitable activities amounted to £1,485,752, (£1,377,298 in 2023). This resulted in net incoming resources of £33,760 (£54,866 in 2023).
d. Risk assessment
The trustees have identified the major risks of the charity and are satisfied that systems and procedures are in place to mitigate exposure to the risks where possible.
As part of the charity's risk management strategy the trustees will review the principal risks annually. In order to manage risks and uncertainties, Shofar has a risk register which is reviewed periodically by the Trustees. The Register includes details of potential risks and their potential impact together with control procedures to manage the risks. All risks are scored to give their overall risk and the retained
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
risk after adopting the control procedures. The highest scoring current risk is security threats especially due to the current situation in the Middle East. To minimise this risk Shofar liaises with Manor House staff and CST and where it is felt necessary has asked for additional hours of Security guards on duty for the site to ensure the safety of all children and carers.
Fundraising
The charity is committed to best practice, as outlined by the Fundraising Regulator, in its approach to fundraising and closely monitors its activities in this area, ensuring that vulnerable members are protected. No professional fundraisers are used by the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 19 January 2015.
The company is constituted under a Memorandum of Association and is a registered charity number 1160802.
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees are regularly kept up to date with Charity Commission changes and policies and all new Trustees undergo an induction process to equip them for leading the organisation.
Trustees' responsibilities statement
The Trustees (who are also directors of Shofar Day Care Centre for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Disclosure of Information to Auditors
In accordance with company law, as the company's directors, we certify that:
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a) so far as we are aware, there is no relevant audit information of which the company's auditors are unaware; and
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b) we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
This report was approved by the Trustees on 24[th] September 2025 and signed on their behalf by:
M Saffer
Trustee
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Independent Auditors’ Report
To The Trustees of Shofar Day Care Centre
Opinion
We have audited the financial statements of Shofar Day Care Centre for the year ended 31st December 2024, which comprise the Statement of Financial Activities, the Statement of Financial Position, 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:
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Give a true and fair view of the state of the charitable company's affairs as at 31st December 2024 and of its surplus for the year then ended;
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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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
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The Trustees' Report has been prepared in accordance with applicable legal requirements.
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 Trustee's 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:
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Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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The financial statements are not in agreement with the accounting records and returns; or
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Certain disclosures of trustees' remuneration specified by law are not made; or
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We have not received all the information and explanations we require for our audit; or
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The trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies' exemptions in preparing the Trustees' Report.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement on page 4. The trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
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.
Auditors' 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 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 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:
We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011 and Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.
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. The description forms part of our Auditors' Report.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
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 the charitable company's 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 Statutory Auditors
Regina House 124 Finchley Road London NW3 5JS
Date: 24[th] September 2025
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
| Statement of Financial Activities Incorporating Income and Expenditure Account for the Year ended 31st December 2024 Company Number 09395603 Charity Number 1160802 Unrestricted Designated Total Total Funds Funds 2024 2023 £ £ £ £ Note INCOMING RESOURCES Income from: Donations and legacies 2 - 2,600 2,600 3,646 Income from investments 36,390 - 36,390 2,041 Charitable activities 3 1,480,522 - 1,480,522 1,426,477 Total Incoming Resources 1,516,912 2,600 1,519,512 1,432,164 Expenditure on: |
Statement of Financial Activities Incorporating Income and Expenditure Account for the Year ended 31st December 2024 Company Number 09395603 Charity Number 1160802 Unrestricted Designated Total Total Funds Funds 2024 2023 £ £ £ £ Note INCOMING RESOURCES Income from: Donations and legacies 2 - 2,600 2,600 3,646 Income from investments 36,390 - 36,390 2,041 Charitable activities 3 1,480,522 - 1,480,522 1,426,477 Total Incoming Resources 1,516,912 2,600 1,519,512 1,432,164 Expenditure on: |
|---|---|
| 1,516,912 2,600 1,519,512 1,432,164 |
|
| Charitable Activities 4 |
1,485,752 - 1,485,752 1,377,298 |
| Total Resources Expended Net Income/(Expenditure) Transfers between Funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
|
| 1,485,752 - 1,485,752 1,377,298 |
|
| 31,160 2,600 33,760 54,866 (15,500) 15,500 - - |
|
| 15,660 18,100 33,760 54,866 786,503 151,531 938,034 883,168 |
|
| 802,163 169,631 971,794 938,034 |
|
| The notes on pages 14 to 20 form part of these Financial Statements |
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Statement of Financial Position As at 31 December 2024 Company Number 09395603 Charity Number 1160802
| Statement of Financial Position As at 31 December 2024 Company Number 09395603 Charity Number 1160802 |
|||
|---|---|---|---|
| Note Fixed Assets Tangible Assets 9 Current Assets |
2024 2024 2023 2023 £ £ £ £ 268,125 301,864 |
||
| Stock | 763 - |
||
| Debtors 10 Cash at Bank and in Hand Short Term Investments |
19,500 24,526 285,370 195,404 762,775 757,012 1,068,408 976,942 |
||
| Creditors Amounts falling due within one year 11 |
(364,739) (340,772) |
||
| Net Current Assets Total assets less current liabilities |
703,669 971,794 |
636,170 | |
| 938,034 | |||
| Creditors Amounts falling after more than one year |
- | - | |
| Net Assets 12 Charity Funds Unrestricted funds 13 |
971,794 802,163 |
||
| 938,034 | |||
| 786,503 | |||
| General - Designated Funds 13 |
169,631 | 151,531 | |
| Total Funds | 971,794 | ||
| 938,034 |
The notes on pages 14 to 20 form part of these Financial Statements
Approved by the Board of Trustees on 24[th] September 2025 and signed on its behalf by:
M Saffer Trustee
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Cash Flow Statement for the Year Ended 31 December 2024
| Cashflow from operating activities | 2024 2023 £ £ |
2024 2023 £ £ |
|---|---|---|
| Net Movement in Funds Adjustments for: Depreciation of tangible assets |
33,760 54,866 33,739 34,675 |
|
| Dividends, interest and rents from investments | - - |
|
| Decrease/(Increase) in stocks | (763) - |
|
| (Increase)/Decrease in Debtors | 5,026 3,273 |
|
| Increase/(Decrease) in Creditors Net cash generated from operating activities Cash flows from investing activities |
23,967 (24,423) |
|
| £ 95,729 68,391 |
||
| Purchase of tangible assets | - | - |
| Net Cash used in investing activities | - | - |
| Net increase in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of theyear |
95,729 68,391 952,416 884,025 |
|
| 1,048,145 £ £ 952,416 |
The notes on pages 14 to 20 form part of these Financial Statements
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Notes to the Financial Statements
1. Accounting Policies
1.1 Basis of preparation of financial statements
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Charity has applied all amendments to FRS 102, as set out in the Financial Reporting Council's triennial review published in December 2017, and included in Update Bulletin 2 to the Charities SORP (FRS 102), as required for mandatory adoption for accounting periods beginning on or after 1 January 2019.
Shofar Day Care Centre 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.
1.2 Company status
The company is a company limited by guarantee and incorporated in England. The address of its registered office and principal place of business is The Sternberg Centre for Judaism, 80 East End Road, London, N3 2SY. The members of the company are the Trustees 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.
1.3 Going concern
The Trustees have reviewed the circumstances of the charity, as noted on page 4 of the Trustees’ report. The most recent management information, as at 31 July 2025 indicates the charity hold cash reserves of £1,100k and has net current assets of £798k.
The Trustees have prepared budgets and forecasts taking account of various potential scenarios and are anticipating a surplus for the year ending 31 December 2025 of approximately £106k.
The Trustees are cautiously optimistic about the future due to the importance of the education and childcare sector to the country’s economic recovery.
Accordingly, the trustees consider it appropriate to continue to adopt the going concern basis in preparing the charity’s financial statements.
1.4 Income
Income is recognised once the company has entitlement to the funds, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Nursery fees are recognised in the month to which they relate.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
Registration fees in relation to the nursery are recognised immediately upon written confirmation of a child joining Shofar Day Care.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Other income, including merchandise sales is accounted for on an accruals basis.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company.
1.6 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 company and which have not been designated for other purposes.
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.
1.7 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
1.8 Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities Incorporating Income and Expenditure Account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. 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:
Building costs - 5% on cost Leasehold Improvements - 20% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
1.9 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
1.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.11 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.
1.12 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.
1.13 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.
1.14 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.
1.15 Accruals
The company 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.
1.16 Tangible fixed assets
All 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.
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
| 2. Income from donations and legacies Donations 3. Income from Charitable Activities Nursery & Registration Fees Merchandise Sales & Training 4. Analysis of resources expended by expenditure Nursery Operations |
Unrestricted Designated Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ - 2,600 2,600 3,646 |
Unrestricted Designated Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ - 2,600 2,600 3,646 |
|---|---|---|
| 2024 2023 £ £ 1,473,377 1,421,906 7,145 4,571 1,480,522 1,426,477 type Staff costs Other Direct Costs Support and Governance Costs Total 2024 2024 2024 2024 £ £ £ £ 973,916 416,775 95,061 1,485,752 |
2024 2023 £ £ 1,473,377 1,421,906 7,145 4,571 |
|
| 1,480,522 1,426,477 |
||
| 973,916 416,775 95,061 1,485,752 |
||
| Comparatives: | Staff costs Other Direct Costs Support and Governance Costs Total |
|
| Nursery Operations 5. Charitable Activities Staff Costs Wages & Salaries National Insurance Pension costs Other Direct Costs Rent Service charges Maintenance Recruitment & staff costs Registration fees Food, milk & related expenditure Other consumables Cleaning Grants to Partner Charities |
2023 2023 2023 2023 £ £ £ £ 941,470 339,722 96,106 1,377,298 |
|
| 941,470 339,722 |
96,106 1,377,298 |
|
| 2024 2023 £ £ 837,193 810,295 61,865 61,307 74,858 69,868 |
||
| 973,916 941,470 |
||
| 2024 2023 £ £ 30,384 30,384 47,004 36,300 35,139 20,683 10,988 10,502 1,492 1,744 92,431 84,944 14,195 15,642 44,044 46,484 141,098 93,039 |
||
| 416,775 339,722 |
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SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
5. Charitable Activities (continued)
Support and Governance Costs
| Support and Governance Costs Books, sundry & office expenses Insurance Website & IT costs Telephone Accounting, legal & professional & governance Printing & stationery Depreciation Bank charges & interest |
2024 2023 £ £ 3,376 3,971 8,189 7,388 9,297 9,571 3,057 4,051 34,137 33,000 2,674 2,817 33,739 34,675 592 633 |
| 95,061 96,106 |
6. Net incoming resources
| This is stated after charging: Depreciation of tangible fixed assets: - owned by the charity Pension costs |
2024 2023 £ £ 33,739 34,675 74,858 69,868 |
|---|---|
7. Auditors Remuneration
The auditors remuneration amounts to £10,500 (2023: £10,080) including VAT.
| 8. Staff Costs Wages and salaries Social security costs Pension costs |
2024 2023 £ £ 837,193 810,295 61,865 61,307 74,858 69,868 |
|---|---|
| 973,916 941,470 |
|
| No employees received employee benefits of more than £60,000. | |
| The average number of persons employed by the company during the year was as follows: 2024 2023 |
|
| Staff | 41 38 |
| Key Management Compensation Salaries and other short term benefits Pension Costs |
2024 2023 £ £ 127,416 138,605 34,512 35,474 |
| 161,928 174,079 |
During the year no Trustees received any remuneration, benefits in kind or remuneration of expenses.
18
SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
9. Tangible Fixed Assets
| 9. Tangible Fixed Assets | ||||
|---|---|---|---|---|
| Building | ||||
| Furniture & | Computer | Development & | ||
| Equipment | Equipment | Improvements | Total | |
| Cost | £ | £ | £ | £ |
| At 1 January 2024 | 53,378 | 18,142 | 544,745 | 616,265 |
| Additions | - | - | - | - |
| Eliminations | - | |||
| At 31 December 2024 | 53,378 | 18,142 | 544,745 | 616,265 |
| Accumulated Depreciation | ||||
| At 1 January 2024 | 52,668 | 16,375 | 245,358 | 314,401 |
| Charge for the year | 355 | 884 | 32,500 | 33,739 |
| Eliminations | - | - | - | - |
| At 31 December 2024 | 53,023 | 17,259 | 277,858 | 348,140 |
| Net book value | ||||
| At 31 December 2024 | 355 | 883 | 266,887 | 268,125 |
| At 31 December 2023 | 710 | 1,767 | 299,387 | 301,864 |
| All Tangible Fixed Assets are used in the furtherance of the Charity's | objectives. |
| 10. Debtors Trade debtors Prepayments and accrued income 11. Creditors: Amounts falling due within one year Trade creditors Other creditors Other taxation & social security Deposits Grants to Partner Charities |
2024 2023 £ £ 10,278 14,104 9,222 10,422 |
|
|---|---|---|
| 19,500 24,526 |
||
| 2024 2023 £ £ 9,144 9,881 - 3,700 17,336 20,090 148,748 151,180 141,098 93,039 |
||
| Accruals & deferred income | 48,413 62,882 |
|
| 364,739 340,772 |
||
| 12. Analysis of Net Assets between Funds | ||
| Unrestricted Funds | Tangible Fixed Assets 2024 £ |
Net Current Assets Total 2024 2024 £ £ |
| General Funds Designated Funds |
268,125 534,038 802,163 - 169,631 169,631 |
|
| 268,125 703,669 971,794 |
||
| Comparatives: | Tangible Net Current |
|
| Unrestricted Funds | Fixed Assets Assets Total 2023 2023 2023 £ £ £ |
|
| General Funds Designated Funds |
301,864 484,639 786,503 - 151,531 151,531 |
|
| 301,864 636,170 938,034 |
| 12. Analysis of Net Assets between Funds | |||
|---|---|---|---|
| Tangible | Net Current | ||
| Fixed Assets | Assets | Total | |
| 2024 | 2024 | 2024 | |
| Unrestricted Funds | £ | £ | £ |
| General Funds | 268,125 | 534,038 | 802,163 |
| Designated Funds | - | 169,631 | 169,631 |
| 268,125 | 703,669 | 971,794 | |
| Comparatives: | Tangible | Net Current | |
| Fixed Assets | Assets | Total | |
| 2023 | 2023 | 2023 | |
| Unrestricted Funds | £ | £ | £ |
| General Funds | 301,864 | 484,639 | 786,503 |
| Designated Funds | - | 151,531 | 151,531 |
| 301,864 | 636,170 | 938,034 |
19
SHOFAR DAY CARE CENTRE (A Company Limited by Guarantee) Company registered number: 09395603 Charity registered number: 1160802
| 13. Statement of funds | Movement in Funds: |
|---|---|
| Balance at Income Expenditure Transfers Balance at 1 Jan 2024 31 Dec 2024 |
|
| General Reserve | 786,503 1,516,912 (1,485,752) (15,500) 802,163 |
| Designated Funds | |
| Major Works & Repairs to Sternberg Centre Bursary and Hardship Fund Development Fund |
128,144 - - 20,000 148,144 4,830 - - - 4,830 18,557 2,600 - (4,500) 16,657 |
| Total Designated Funds | 151,531 2,600 - 15,500 169,631 |
| Total Unrestricted Funds | 938,034 1,519,512 (1,485,752) - 971,794 |
| Comparatives: | Balance at Income Expenditure Transfers Balance at |
| 1 Jan 2023 31 Dec 2023 |
|
| General Reserve | 740,023 1,428,518 (1,377,298) (4,740) 786,503 |
| Designated Funds | |
| Major Works & Repairs to Sternberg Centre Bursary and Hardship Fund |
108,144 - - 20,000 128,144 4,830 - - - 4,830 |
| Development Fund | 30,171 3,646 - (15,260) 18,557 |
| Total Designated Funds | 143,145 3,646 - 4,740 151,531 |
| Total Unrestricted Funds | 883,168 1,432,164 (1,377,298) - 938,034 |
The Major Works & Repairs to Sternberg Centre - an amount set aside by the Shofar board to be used for future refurbishment costs of the site.
The Bursary and Hardship Fund - to fund a bursary scheme to support parents who have need of financial assistance.
The Development Fund - to support the development and retention of staff of Shofar Day Care Centre and fund specific improvement projects.
14. Pension commitments
The company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £74,858 (2023: £69,868). £26 (2023: £5,604) was outstanding at the year end.
15. Related Party Transactions
The charity is party to a Memorandum of Understanding (MOU) with a number of other charities (partner charities), two of which (Finchley Reform Synagogue and North West Reform Synagogue) have a significant influence over Shofar’s operations as a result of rights relating to the appointment of Trustees.
During the year, and in accordance with the terms of the MOU, Shofar committed to charitable grants of £141,098 (2023: £93,039) in total to the partner charities.
16. Operating Lease commitments
The company has entered into an open-ended operating lease with base rent payable of £30,384 per annum until the next review in 2025.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| At 31 December 2024 the total of the Charity’s future minimum lease payments under non-cancellable operating leases was: | ||
| Less than one year | 36,945 | 30,384 |
| 2-5 years | 164,000 | 121,536 |
| Over five years | 15,717 | 43,145 |
| 216,662 | 195,065 |
20
SHOFAR DAY ARE CENTRE (A Company Limited by Grantee) Company registered number: 09395603 Charity registered number: 1160802
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