REGISTERED COMPANY NUMBER: 09271770 IEnÉland and Wales) REGISTERED CHARifi NUMBER: 11610S9 flEPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 FOR RADLErr REFORM YNAGO *AC35AZIC* MPANIES HCrtJsÉ Nagler Simmons Chartered Accountants and Statutory Auditors 5 8eaumont Gate Shenley HIN Radlett WD7 7AR RADLEfF REFORM SYNAGOGUE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 Page Report of tht Trnstees Report of the Independent Auditors 8 to 12 Statement of FinarKial Activities 13 Balance Sheet 14 to IS Cash Flow Staternent 16 Note5 to the Cash Flow Statement 17 Notes to the Financial Statements 18 to 28 RADLETf REFORM SYNAGOGUE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022 The trustees who are also directors of the charity for the purp05e5 of the Companies Act 2(KJ6. present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with The Financial ReportinE Standard 102. applicable in the UK and Republic of Ireland IFRS 1021. OBJEcfivES AND AcnvmES Objectives The Synagogue was established in 1971 as a Congregation professing the Jewish Religion. with the objects of providing and maintaining a Synagogsje for the purpose of public worship and advancing re5igious. educational and charitable activities. We carry ovt these objects in many ways. The Synagtsgue is a member of the Movement for Refofm Judaism. What follows are only examples of what we do in the community. Significant artivities In planning the charity's activities, the tru5tee5 have had regarded the Charity Commission, guidance on public benefit. As we emerged from the period of Covid-19, we con¢entrated our efforts this year on re-building our activities and community engagernent. One tsf the highlights of the year came in July as we welcomed newly ord3ined Rabbi DY Stern as assistant to Rabbi Paul Freedman. In November, we held an induction ceremony for him when the Synagogue hosted the mayor and other leaders of Hertsmere Council. as well as leader5 of the local faith communities. Our Cheder and B'nei Mitzvah programmes returned to face-to-f3ce teaching this year. with a growing rhumber of young people participating in these courses. both as students and as helpers. Our Youth Programme includes family seryices. activities at every festival. regular Shabbat services and help at summer camps and occasional Teens, aubs. Our Community Support work has never been more important_ Member5 have access to the rabbi5. our Community support worker and her team of volunteers_ Together they offer an extensive range of service5. help and support for many issues including financial hardship. domestic abuse. mental health problems and bereavement. From December 2021. together with other bcal public venues. we were very proud to open the doors to the whole community 35 a 'Warm Space"; a provision for people struggling with the cost-of-INing crisi5. The Synagogue hosts other regular activities including 8eavers. Cubs, Scouts. brid8e dubs. Pins and Needles Group. table tennis and Thursday Club for our senior members. We are so grateful for the hard work of all our staff and the large number of volunteers. We aim to continue increasing the services and artivitie5 on offer, as wèll as improving our engagement with the community and would therefore encourage more volunteers to come forward to help enable this. Page I RADLErr REFORM SYNAGOGUE REPORT OF THE TRUSTEES R THE YEAR ENDED T DECEMBER2022 ACHIEVEMENT ANO PERFORMANCE Charltable activitles Members of the community gave generously in support of the annual High Holy Day appeal. raising £5,307 for Borehamwood Food Bank, £10.463 for World Jewish Reliefs Ukraine and Pakistan Appeals and £5,189 for Radlett Reform. The total raised was £20,959 Icompared to £15.900 in 20211. These figures are inclusive of tax refund5 on the donations. Achievements The achievements of the year owe much to the efforts of a very large number of people who give their time paid and unpaid to the Community. Thanks goes to Rabbis Paul Freedman and DY Stefn who have been very dedicated to en5urin8 that the needs of the Cornmunity remain prioritised in the absence of further Clergy. Thanks also to our very dedicated office staff, teaching staff and caretakers. We are. however. very much a volunteer organisation. and we are indebted to a great many people. those on the Executive Committee and 8oard and many other5 too numeroLtS to name here. who have given up their time to further the artivities of the ¢ommunity. The Synagogue will continue to go from strength to strength and aims to be a beacon for Reform Jewish life in South Hertfordshire and ensvrin8 that the community remains true to its values of caring for each of its members a5 they pass along their Jewish journey. Radlett Refomi Synagogue is the community for South Hertfordshire. FINANCIAL REVIEW Financial p051tion and future plans The Trustees report an overall profit for the year amounting to £27,5W12021.. £84.0701. The principal source of funding is subscription income. which increased by 3.0%12021.. decreased by 1.2%). We are constantly endeavouring to maintain and ideally irnprove our collection rate, however, as expected this has become more difficu￿ during recent years. Oncè again, a number of members were unable to pay their subscriptions in full during the year due to adverse personal circumstsnces. The Synagogue's policy for colleciing subscriptions where we are made aware of circumstances of financial difficulty. is that we are as helpful a5 we can be. Most rnember5 Pav their subscriptions through Gift Aid. We are aware that members who are higher rate taxpayer5 could retover more tax than standard rate taxpayers. This gives rise to an anomaly that member5, who mi8ht be presumed to be better off. end up paying less. We coritinve to addres5 this anomaly by asking higher rate taxpayers to pay a subscription donation that. after the recovery of tax, means that they and standard rate taxpayers pay the same nei amount. At the 2022 AGM. it wès resolved th3t Nagler Simmons be reaptM)inted auditors on a fee-paying basis. Page 2 RAOiETf REFORM SYNAGOGUE REPORT OF THE TRIISTEES FOR THE Y£AR ENDEO 31ST DECEMBER 2022 FINANCIAL REVIEW Reserves The trustees. pol%cy is to utilise any rÈserves for ￿Ur* commitments and projects. which include work to the fabric of the building, following the building survey report. Creating a fund for future building works.. funding resources for our youth clubs and Cheder. It is not the tnjstees. practice to keep material reserves. as this would impact on subscription levels and POS5ibly have an adverse effect on mernbership numbers. short.tenn liquidity is monitored on a monthly ba515 by the Treasurer and Finance Committee and Iseparatelyl the Honorary Officers to ensure that potential cash-flow i5sue5 identified well in advance. The charity had total reserves of £337.403 as at 315t December 202112021- £319,511) sTRu￿VRE. GOVERNANCE AND MANAGEMENT Governin8 document The Synagogue is a company limited by guarantee with the company registration number 09271770 which 15 governed by the Memorandym and Articles on incorporation on 20th October 2014 as amended in General Meeting from time to time. Managernent of the Synagogue's affairs is vested in the Syna8ogue'$ Board and day-to-day management is delegated to the Honorary Officers. Each member of the Council is a tfustee and director of the Charity. The trustees in 2022 are named on page 6. The Laws of the Synagogue govern appointment of trustees. Ordinarily. trustees are elected at the Annual General Meeting I'AGM"). There is also power to co-opt member5 of Council. Thi5 en3ble5 the trustees to fill vacanoes arising through the resignation or death of an existing trustee. Council members receive an induction pack at the time of their elertion or co-option, including a summary of thÈir responsibilitie5 as trustees. Page 3 RADLErr REFORM SYNAGOGUE REPORT OF THE TrUSTEES FOR TrIE YEAR ENDED 31ST OECEMBER 2022 STRUCTURE. GOVERNANCE AND MANAGEMENT Rlsk management The Council of the Synagogue is responsible for the management of the risks faced by the Synagogue. Detailed consideration of risks is delegated to the Honorary Officers. assisted by other Council members and members of staff. Risks are identified and assessed throughout the year and controls are established to manage the risks. A formal review of the Synagogue's risk management proces5 has continued during the year and will remain under continuou5 review. The Council of the Synagogue has adopted the following Risk Policy.. "The Synagogue exists to providè religious, edutational and social services for its members and the wider community. To avoid risk. it will carry out its activrties in such 3 way that: It follows the moral and ethical principles of the jewish faith- It conforms to all relevant legal requirements with regard to finance. taxation, employment. health and safety,. It ensures the financial resources of the Synagogue are adequate to provide the services It wishes to provide. and balances income and expenditure from year to year- It is managed in accordance with good practice irb terms of control. delegation and authority levels- All those involved in the management of the Synagogue. whether volunteers or paid, understand their responsibilities- It prDvides security for staff, volunteers. members and the ph￿"Cal assets of the Synagogue; It ensures continuity of operation by providing alternative arrangements for major di58Sters. "Risks will be regt213rly reviewed and their impatt assessed. Where there is a high risk of octurrence ar)d the impact is great, immediate action will be taken to eliminate the risk by taking appropriate steps, changing procedures or providing adequate safeguards. Where the risk is lower. action will be taken to reduce or transfer the risk, for example through insurance. If the risk is high. but the likelihood is low. then action will be taken to avoid it. Low ri5k5 With a low likelihotsd of (Kcurrence will be accepted unless simple steps can be taken to lower the risk. In all ¢3ses. the action to be taken will have regard to whether the steps taken. and associated cost. are proportionate to the risk and likelihood of occijrrence." The key controls used by the Synagoguè are: . Regular meetrngs of Board and Honorary Officers with formal agenLla5 and minutes Detailed terms of reference for Honorary Officers, 8oard and sui>committees - Annual budgets and regular management accounts Formal wrrtten policies including authority limits Through the risk management processes established for the Synagogue, the members of Council, a5 trustèes are satisfied that ihe major risks idèntified have been adequately mitigated where necessary or are in the process of being mitigated. It is recognised that systems can only provide reasonable but not bsolute assurance that major risks have been adequately identified and addressed. Page 4 RADLETT REFORM SYNAGOGVE REPORT OF ThE TRUSTÉES FOR TrIE YEAR ENDED 31ST DECEMBER 22 STRUCTURE. GOVERNANCE AND MANAGEMENT Safeguarding The Synagogue fully recognises the responsibility and duty placed upon thèm to safeguard 311 members. The Synagogue promote5 the welfare of childrert and young people entnjsted to their cère, as well as vulnerable adults. The Synagogue ensures that safeguarding practice reflects statutory responsibilities. government guidance and complies with best prartice. AJI staff and volunteers have a full and active part in protècring childrèn and vulnerable adults from hami. AII OUT teaching staff (both adult and teenage classroom a5515tantsl receive age-appropriate formal safeguarding training which is repeated every three years but reviewed annually bèfore the beginning of the academic year. All our age 16+ staff are DBS cleared before working with the children. We have safe8uardin8 policies in place which cover children and vulnerable adults these are reviewed every three years. OUT Designated Safeguarding Lead IDSLI is Katie Adams. (Community Support Worker). with Carol Green (Head of Primary Education. Youth and Families) as Deputy Safeguarding Lead. Spencer Grant 15 the Safeguarding Board Member. All lead members have undertaken DSL training. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09271770 IEnglartd and Wales) Registered Charity number 11610S9 Reglstered office 118 Watlin8 Street Radlett Hertfordshire W07 7AA Page 5 RA￿LE￿ REFORM YNAGOGUE REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31ST DECEMBER2022 Trustees The trustees seNing during the year were as follows.. Executive Officers Spencer Grant Julian Burman David Brown Daniel Shabetai Chair (Acting) Honorary Secretary Honorary Treasurer Head of Ritual (Appointed 9th June 20221 Board Kathryn Michael Wayne Morris Sacha Wingard David Martin Samantha Davi5 Phil Lyons Carol Green Richard Burn Irene Blaston Head of Security IResigned 9th June 20221 IResigned 9th June 20221 (Resigned 9th June Z0221 IResigned 9th June 20221 IResigned 9th lune 20221 Auditors Nagler Simmons Chartered Atcountants and Statutory Avditors 5 Beaumont Gate Shenley Hill Radlett WD7 7AR Bankers Barclays Bank PLC 22-24 Upper Marborough Road 5t. Albans ALI 3AL Page 6 RADLErr REFORM SYNAGOGUE REPORT OF THE TRUSTEES R THE YEAR ENDED 315T OECEM8ER 2022 STATEMENT OF TRUSTEES. RESPON51BIUTIES The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Vnited Kingdom Accounting Standards (United Kingdom Genèrally A¢¢Èpted Accounting Principlesl. The law applicable to charities in England and Wales. the Charities Act 2011, Charity (Accounts and Reports) Regulation$ 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the State of affair5 of the charity and of the incoming resources and application of resources. including the incorne and expenditurÈ, of the charity for that period. In preparing those financial statements the Trustees are required to.. al select suitable accounting policies and apply them consistently. bl observe the methods and principles in the Charity SORP. cl make judgements and estimates that are reasonable and prudent: dl prepare the financial Statements on the going concern basis unle55 It is inappropriate to presume that the charity will continue in operation. The Tnjstees are responsible for keeping proper accounting records which dis¢lose with reasonable ccuracy at any time the thnancial position of the charity and to enable them to ensure that the financial Statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulation$ 2008 an(J the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularities. AUDITORS The auditors, Nagler Simmons. w¥ll be prowsed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 17th May 2023 and Signed on its behalf by.. D Brown- Trustee PaBe ? REPORT OF THE INDEPENDENT AUDITORSTO THE TRUSTEES OF RADLETf REFORM SYNAGOGUE Oplnion We have audited ihe financial staternents of Radlett Reform Synagogue (the 'charitable company'l for the year ended 315t December 2022 which comprise the Statement of Financial Activitie5, the Balance Sheet. the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied ill their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable cornpany's affair5 as at 31st December 2022 and of its incoming resources and application of resource5. including its income and expenditure. for the year then ended: have been properly prepared in accordance ￿th United Kingdom Generally Accepted A¢counting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2th￿. 8asis fgr opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities tjnder those standards are further described in the Auditors, responsibilities for the audit of the financial statements sertion 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 relatin8 to goine concern In auditing the financial statements. we have concluded that the trustees, use of the going concèrn basis of accounting in the preparation of the financral statements is appropriate. Based on ihe work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collertively, may cast $18nificant doubt on the tharitable company's abilitv to continue as a gtsing contem for a peritsd of at least twelve months from when the financial statement5 are authorised for issue. Our responsibilities and the responsibilitiès of the trustees with respect to going concern are dèscribed in the relevant sections of this report. other inforniotion The trustees are responsible for the other information. The othèr information tomprises the infom)3tion included in ihe Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicit￿ 5t3ted in our report, we do not exprÈss any fom of assurance tonclusion thereon. In connection with our audii of the financial statements. our responsibility 15 to read the other information nd, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othèrwise appears to bÈ materially misstated. If we identify such material inconsistencies or apparent material rnisstatements, 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 misststement of this other information, we are required to report that fact. We have nothing to report in this règard. Page 8 REPORT OFTHE INDEPENDENT AUDIIORSTOTHE TRUSTEESOF RADLEfr REFORM SYNAGOGUE Matters on which we are required to report by ex¢eption We have nothing to report in respect of the following matters where the Charities (Accounts and Reportsl Regvlation5 2008 requires us to report to you if, in our o￿nI￿n.. the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements,. or the charbtable company has not kept adequate accounting records.. or the financial statements are not in agreement with thè attounting records and retum5.' or we have not received 311 the information and explanations we require for our audit. Responsibilitiès of trustees As explained more fully in the Statement of Trustees, Re5pon5ibilitie5. the trustees Iwho are also the directOTS of the charitable company for the purposes of company lawl are re5pon5ible 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 15 necessary to enable the preparation of financial statemènts that are free from materi31 misstaternent. whether dye to frau(J or error. In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosin& a5 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. Page 9 REPORT OF THE INDEPENDENT AUOITORS TO THE TRUSTEES OF RADLETT REFORM SYNAGOGUE Our rèsponsibilities for ihe audit of the financial statements We have been appointed as auditor5 under Section 144 of the Charities Art 2011 and report in accordance with the Art and relevant regul3tions made or having effect thereunder. Our objectives are to obtain reasonable assurancè abtsut whèther the financial statements as a whole are free from material mi5Staternent, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 IUKI will always detect a matertal misstatement when it exists. Mi55tatements 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 ba515 of these financial 5talements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below= Explanatygn •$ to what extent the audit was considered capable of detecting irregularities. including Iraud The objective5 of our audit in respect of fraud. are,. to Identify and assess the risks of material misstatement of the financial statements due to fraud,- to obtain sufficient 3ppropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses to those assessed risks.. and to respond appropriately to instances of fraud or sv5pected fraud identified during the avdit. However. the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governan¢e of the company. Our approach was as follows= We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2CQ6, Charitie5 Act 2011, International Financial Reportin8 Standards, and UK taxation legislation. We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material mi55tatement of the financial statemènts, including the risk of material misstatement due to fraud and how rt might occur. by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understandin& we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquirie5 of management and those harged wrth governance and obtaining additional corroborative evidence as required. As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain professional scepticism throughout the audit. We also-. Page 10 REPORT F THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RAOLErr REFORM SYNAGOGUE Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error. design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basi5 for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. a5 fraud may involve collusion, forgery, intentional omissions. misrepresentations. or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audit protedures that are appropriate in the orcumstances. but not for the purposes of expressing an opinion on the effectiveness of the charitable Company's internal control. Evaluate the appropriatene55 of accounting policie5 used and the reasonableness of accounting estimates and related disclosures made by the tru5tee5. Conclude on the appropriateness of the tnJstees' use of the going concern basi5 of accounting and, based on the audit evidènce obtained. whether a material uncertainty exist5 related to events or conditions that may cast significant doubt on the charitable company's or the parent companrfs ability to continue as a going concern. If we conclude that a material uncertainty e¥ist5, we are require(I to draw attention in our auditor's report to the rÈlatÈd disclosures in the financial st3tÈments or. if such disclosures are inadequate. to modify our opinion. Our conclusions afe based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as 3 goin8 concern. Evaluate the overall presentation. structure and content of the financial statements, including the disc105ure5. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Obtain Sufficient appropriate audit evidence regardinE the financial information of the entities or busine55 activities within the charitable company to express an opinion on the consolidated financi31 statements. We are responsible for the direction. supervision and performance of the charitable company audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance re8ardin& among other rnatters, the planned scope and timing ol the audit and significant audit findings, includin8 any significant deficiencies in intemal control that we identify during our audit. A further description of our responsibilities for the audil of the financial statements is located on the Financial Reporting Council's website èt www.frc.org.uVauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 11 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEE5 OF RADL￿T REFORM SYNAGOGUE Use of our report This report is made 501ely to the charitable company'5 tntstees. as a body. in accordance with Part 4 of the Charities (Accounts and Report51 Regulations 2CN38. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 trustee5 as a body, for our au¢Jit work. for this report. or for the opinions we have formed. Nagler Simmon5 Chartered Accountants and Statutory Auditors Eligible to act as an auditor in terms of Sertion 1212 of the Companies Art 2￿6 5 8eaumont Gate Shenley Hill Radlett W07 7AR Date-. 17" M3y2023 Page 12 RADLETf REFORM SYNAGOGUE STATEME￿ OF FINANCIAI AcllMTIES FOR THE YEAR ENDED 315T DECEMBER 2022 31.12.22 Total funds 31.12.21 Total fund5 Unrestricted Restrirted Endowrnent funds funds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 618,346 20.958 639,304 628.009 Charltable artivltiès Synagogue operations Education Government grants 3,350 49.973 2,808 3.350 49.973 2.808 500 45,919 1,500 Other trading artivities Investment income 19.019 1.645 19.019 1.645 10.S57 1.009 Total 695.141 20.958 716,099 687.494 EXPENDITURE ON Charitable artivities Synagogue operations Educatitsn High Holy Day Appeal 566.740 110.509 566.740 110.J09 11,350 512,575 11.350 15,810 Total 677.249 11,350 688.599 603.424 INCOME 17,892 9.608 27.5(KJ 84,070 RECONCILIATION OF FUNOS Total funds brought forward 689.391 36.359 102,690 828,440 744.370 TOTAL FUNDS CARRIED FORWARD 707.283 45.967 102.690 855,940 828.440 The notes form part of these financial statements Page 13 RADLE￿ REFORM SYNAGOGUE BALANCE SHEET 315T DECEMBER 2022 31.12.22 Total funds 31.12.21 Total funds Unrestricted Restricted funds funds Endowment fvnd Notes FIXED ASSETS Tangible assets 13 369,880 102.690 472.570 472,570 CURRENT ASSErs Debtors Cash at bank and in hand 14 20.729 355.065 20,729 401,032 8,980 376.409 45.967 375.794 45,967 421.761 385.389 CREDITORS Amounts falling due within one year 15 138.391) 138.3911 129,5191 NET CURRENT ASSETS 337.403 45.967 102.690 486.060 355.870 TOTAL ASSETS LESS CURRENT LIA8ILlnES 707.283 45.967 102.690 855.940 828,440 ASSETS 707.283 45.967 102.690 855,940 828.440 FUNDS Unrestricted funds.. General fund High Holy Day Appeal 16 702,510 4.773 684,618 4.773 707,283 689,391 Restricted funds= Burial provision High Holy Day Appeal Clergy fund 3.125 31,077 11.765 3.125 21,469 11,765 45,967 36,359 Endowment fund5'. Permanent building fund (Permanent èndowment) 102,690 102,690 TOTAL FUNDS 8SS.940 828.440 The notès fomi part of these financial statements Pa8e 14 continued... RADLE￿ REFORM SYNAGOGUE 8ALANCE SHEEf- ¢onlinued 31ST DECEMBER 2022 The charitable company is entitled to exemption from audit under Section 477 of the Companie5 Act 2006 for the year ended 31st December 2022. The member5 havè not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audrt of these financial statements. The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with 5ertbon$ 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair wew of the state of affarrs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwisÈ comply with the requirements of the Companie5 Art 2006 relating to financial statements. $0 far as applicable to the charitable company. These financial statemeftts have been audited under the requirements of Section 145 of the ChafitiÈs Act 2011. These financial siatements have been prepared in accordance with the provisH)ns applicable to charitable cofflpanies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for i55ue on 17th May 2023 and were signed on its behalf by: S. Grant- Trustee O Brown- Tnjstee The notes form part of these financial statements Page 15 RADLETf REFORM SYNAGOGUE CASH FLOW STATEMENT R THE YEAR ENDED 31ST DECEMBER 2022 31.12.22 31.12.21 Notes Cash flows fram operating activities Cash generated from operations 22.978 30,775 Net cash provided by operating activities 22.978 30,775 Cash flows from investing actiwties Interest received 1.645 l.(X)9 Net cash provided by investing attiwties 1,645 I,(K19 Change In cash and cash equivalents in the reporting period Cash and cash equivalents at the be8inrting of the rèporting period 24.623 31,784 376.409 344,625 Cash and cash equivalents at the end ofthe reporting twiod 401.032 376.409 The notes form part of these financial statements Page 16 RADLErr REFORM SYNAGOGUE NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2022 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.22 31.12.21 Net income for the reportin8 period (as perthe Statement of Financial Artiwtiesl Adjustments for: Interest received Ilncrea5elldecrease in debtors Increasèlldecreasel in creditors 27.5(N) 84,070 11,6451 111.7491 8.872 (1.0091 3.209 155,4951 Net cash prowded by operations 22.978 30,775 ANALYSIS OF CHANGES IN NET FUNOS At 1.1.22 Cash flow At 31.12.22 Net cash Cash at bank and in hand 376.409 24,623 401.032 376,409 24,623 401,032 Total 376.409 24.623 401,032 The notes form part of these financial statements Page 17 RADLErr REFORM SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEM8ER 2022 ACCOUNTING POUCIES Basis of preparing the finan¢ial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reportin8 by Char¥ties'. Statement of Recommended Practice applitable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l Janyary 20191,. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companie5 Art ZQ)6. The financial statements have been prepared under the historical cost convention. In light of the Covid-19 outbreak. the trustees havè 355e5sed whether the use of the going concern basis is appropriate. and have considered possible èvents or conditions that might cast significant doubt on the ability of the charity to continue a$ 3 going concern. The trustees have made this ssessrnent for a period of at least one year from the date of the approval of these financial statements. and have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thè charity thèrefore adopts the going Concern basi5 in preparing its financial statements. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic beneflts will be required in settlement arKI the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrua15 basis and has been classified under heading5 that aggregate all cost related to the category. Where costs cannot be direttly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitmènt but not actrued as expÈnditure. Tangible fixed assets Tangible fixed a55ets for use by the charity are stated at tost less depreciation. Individual fixed assets costing less than £2,5￿) are not capitalised. Depreciation is provided at rates calculated to write off the cost of fixed assets, over their expected useful lives on the lollowing basis. Furniture & fittings Office equipment 25% Reducing balance 25% Reducing balarKe No depreciation is prowded on freehold land and building5, xrolls and èppurtenances. which, in the opinion of the trustee5 have a residual value not less than their cost. TaMatSon The charity is exempt from corporation tax on its charitable activitie5. Page 18 continued... IIADLM REFORM SYNAGOGUE NOTES TO ThE FINANaAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2022 ACCOUNTING pouaE5- (ontlnutd Fund accountin8 Unrestricted funds can be used in accordance with the charitable objertives at the discretion of the trustees. Restrirted funds tan only be used for particular restricted purposes within the object5 of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund ￿ included in the note5 to the financial statements. OeferrÈd income A provision for deferred income is made where the incorne is received in the year but can only be recognised for a future year, and can be reliably measurèd at the balance sheet date. Hire purchase and leasing commitments Rentals paid under operaiing leases are charged to the Statement of Financial Artivitie5 on a straight line basis over the period of the lease. Pension costs and other post-retirernent benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Finanrbal Activities in the period to which they relatè. Legal ststus The charity is incorpgrated 05 a £ompany limited by guarantee and is registered with the Charity Commission. The members of the company have undertaken to contributÈ up to their guarantee of £1 each towards the liabilities of the tompany in the event that it is wound up whilst they are. or within one year of being members. DONATII)NS AND LEGACIES 31.12.22 31.12.21 Membership subscriptions Income tax recoverable High Holy Day Appeal- restricted funds High Holy Day Appeal- unrestricted funds Other Donations- unrestricted funds 524.370 89,688 20,959 512.212 83,740 23,116 4.165 4.776 4.287 639.304 628,009 Page 19 continued... ftADLE￿ REFORM SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2022 OTHER TRAOING AcfiviTIES 31.12.22 31.12.21 Tree of life Other fundraising activities Hall hire Nursery rental income 250 1.740 5.579 11.7CX) 385 9,922 19.019 10.557 INVESTMENT INCOME 31.12.22 31.12.21 Depos¢t account interest 1,645 i.OD9 INCOME FROM CHARITA8LE AcnviTIES 31.12.22 31.12.21 Weddings Cheder B'mitzvah Mechina Government grants 3.350 19,775 30.198 2.808 16.181 29.738 1,500 56.131 47.919 Grant5 received, included in the above. are as follows= 31.12.22 31.12.21 Unrestrirted fuTMI Government grants 2,808 i.soo 2,808 1.5C(I Granls Total Government grants 2.808 I,soo 2.808 1,500 PaEe 20 continued... RADLETf REFORM SYNAGOGUE TO THE FINANCIAI STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2022 CHARITABLE AcnvmES COSTS Grant funding of activities lsee note 71 Support costs (see note 81 Direct Costs Tota15 Synagogue operations Education High Holy Day Appeal 561,160 110,509 5.580 566.740 110.509 11.350 11.350 671,669 11,350 5.580 688.599 GRA Trirs PAYABLE 31 12.22 31.12.21 High Holy Day Appeal 11.350 8.419 31.12.22 31.12.21 JAMI Sebby's Corner Leo Baeck College Jewish Bereavement Service orehamwood Food Bank 3.992 3,710 8,035 384 11.350 8.419 SUPPORT COSTS Governance costs Synagogue operations 5,580 Page 21 continued... RADiETf REFORM SYNAGOGUE NOTES TO THE FINANaAL STATEMENTS- continued FOR THE YEAR ENDED 315T OECEMBER Z022 NET INCOMVIEXPENDITUREI Net income/lexpenditure} is stated after chargin8llcreditin81- 31.12.22 31.12.21 Auditors, rernuneration Hire of plant and machinery Other operatin8 lease5 5.580 2.520 9.680 5,430 2,104 8,402 io. TRUSTEES. REMUNERATION AND 8ENEFITS The following are amounts paid to trustees or their families= The trustees. C Green. D Shabetai. S Davis or close members of their family V￿re paid a total of £33.22912021.- £26,2531 for working in the charity's religion school. Authority for this remuneration Is given in the Synagogue's governing d¢Kument. Except for specific items purchased for the tharity, no reimbursement of expenses has been made to any of the trustees during the year. Trustees, expenses There were no trustees, expenses paid for the ye4r ended 31st December 2022 nor for the year ended 31st Decembei 2021. 11. STAFF COSTS The average monthly number of employees during the year was as foll¢)WS= 31.12.22 31.12.21 Rabbinic team Youth and education Administration Marntenance Comfnunity support worker 24 15 33 24 The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,C#XJ was.. 31.12.22 31.12.21 £90,CQi. £1￿,0[￿) Page 22 continue(l... RADLErr REFORM SYNAGOGUE NOTE5 TO THE FINANCIAL STATEMENT5- twment funds Permanent building fund IPermanent endowment) 102.690 102.690 TOTAL FUND5 744.370 84.070 828,440 Comparative net movement in funds. included in the above are as follows.. Incoming resovrces Resources expended Movement in funds Unrestrirted funds Gèneral fund High Holy Day Appeal 660.213 4,165 1595.LNJS1 65,208 4.165 664,378 1595.1))51 69,373 Restrirted funds High Holy Day Appeèl Clergy fund 11,351 11.765 18.4191 2,932 11,765 23,116 18.4191 14,697 TOTAL FUNDS 687,494 1603.4241 84,070 Page 27 continued... RADLETT REFORM SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2022 17. RELATED PARTY DISCLOSURES There were no related party transactions for the year endÈd 31st December 2022 nor for the year ended 315t December 2021 other than those disclosed in note ID. 18. DETAILS OF RESTRlCtED FUNDS Clergy fund- Donations to help the synagogue be able to 5UPPOrt a member of cler8Y. hHol Da al lund5 Burial Prow5ion- To assist rnembers that are not completely covered by their JJ85 burial scheme. IAMI - a charrty to whom we provided funds from our High Holy Day Appeal. Sebby's Corner- a charity to whom we provided funds from our High Hofy Oay Appeal. Leo Baeck Education Centre Israel - a charity to whom we provided fund5 from our High Holy Day Appeal. World Jewish Relief - a charity to whom we provided hjnds from our High Holy Day Appeal. Borehamwood Foodbank Appeal. a local charity to whom we provided funds from our High Holy D3V 19. PERMANENT BUILDING FUND (PERMANENT ENOOWMENT) The Permanent Endowment Fund relates to the Purchase of the original Synagogue land and buildings. The restritted jubilee Fund is specifically used for the extension and improvement of the existin@ premises. Thi5 page does not fomi part of the statutoryfinancial statements Page 28