Charity Registration No. 1166039
OHEL DAVID EASTERN SYNAGOGUE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
OHEL DAVID EASTERN SYNAGOGUE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ghassan Cohen Samy Dallal Yakthan Cohen David Gigi Moshe Moses
Charity number 1166039 Independent examiner Michael Weissbraun, FCA Michael Pasha & Co. 220 The Vale Golders Green London NW11 8SR
OHEL DAVID EASTERN SYNAGOGUE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
OHEL DAVID EASTERN SYNAGOGUE
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 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 Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objects are as follows;
1) The advancement of the Jewish religion through the provision of religious services, the provision and the maintenance of a place of worship and the arrangements of marriages and burials for members of the Synagogue.
2) Such other charitable objects that the Trustees may consider from time to time
The core activity of the charity is the provision of religious services and the Synagogue's Rabbi together with other Rabbi who regularly pray in the synagogue often give daily lectures.
The hall is used weekly to provide meetings for the community and is often also used for celebrations such as weddings and barmitzvas.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The number of members of the Synagogue in the year was approximately 193 (2020: 222).
The synagogue conducted the burial of three members during the year.
Financial review
The charity made a deficit of £654 (2020: surplus £6,415) during the year. This surplus excludes the movement in the restricted fund which gave rise to a surplus of £33,799 (2020: £6,560).
At 31 December 2021 the unrestricted funds of the charity were £83,027 (2020: £49,902). The restricted funds of the charity were £275,507 (2020: £241,708).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The main sources of income were Membership subscriptions of £48,855 (2020: £44,960), income from donations and for the memorial plaque including gift aid of £66,433 (2020: £48,905) and Meshabarakh donations of £23,888 (2020: £13,809).
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future
The trustees look forward to continue to serve the members as best as they can and ensure their security while on premises.
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OHEL DAVID EASTERN SYNAGOGUE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Structure, governance and management
The objects of the Ohel David Eastern Synagogue is to provide and maintain a Synagogue for the advancement of religious, educational and other charitable activities.
The Charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The trustees who served during the year and up to the date of signature of the financial statements were: Ghassan Cohen
Samy Dallal Yakthan Cohen David Gigi Moshe Moses
None of the trustees has any beneficial interest in the charity.
The trustees meet as required to fulfil their obligations and mostly without a pre-arranged agenda as they are regularly in the Synagogue hence meeting can take place at very short notice.
Almost all the daily matters are attended to by the President Ghassan Cohen except when he delegates to other trustees.
Considering that this is a Synagogue cameras and other security has been installed to protect the community.
The trustees' report was approved by the Board of Trustees.
Ghassan Cohen
Chairman Dated: 5 April 2022
Moshe Moses
Treasurer Dated:5 April 2022
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OHEL DAVID EASTERN SYNAGOGUE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees 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).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
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 judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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OHEL DAVID EASTERN SYNAGOGUE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OHEL DAVID EASTERN SYNAGOGUE
I report to the trustees on my examination of the financial statements of Ohel David Eastern Synagogue (the charity) for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Michael Weissbraun, FCA Michael Pasha & Co.
220 The Vale Golders Green London NW11 8SR
Dated: 5 April 2022
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OHEL DAVID EASTERN SYNAGOGUE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
Current financial year
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Charitable activities 3 153,912 37,169 Investments 4 1 30 Total income 153,913 37,199 Expenditure on: Charitable activities 5 120,788 3,400 Net income for the year/ Net movement in funds 33,125 33,799 Fund balances at 1 January 2021 49,902 241,708 Fund balances at 31 December 2021 83,027 275,507 |
Total 2021 £ 191,081 31 191,112 124,188 66,924 291,610 358,534 |
Total 2020 £ 154,363 99 |
|---|---|---|
| 154,462 | ||
| 134,927 | ||
| 19,535 272,075 |
||
| 291,610 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Prior financial year
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Charitable activities 3 126,513 27,850 Investments 4 9 90 Total income 126,522 27,940 Expenditure on: Charitable activities 5 113,547 21,380 Net income for the year/ Net movement in funds 12,975 6,560 Fund balances at 1 January 2020 36,927 235,148 Fund balances at 31 December 2020 49,902 241,708 |
Total 2020 £ 154,363 99 |
|---|---|
| 154,462 | |
| 134,927 | |
| 19,535 272,075 |
|
| 291,610 |
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OHEL DAVID EASTERN SYNAGOGUE
BALANCE SHEET
AS AT 31 DECEMBER 2021
| 2021 Notes £ Fixed assets Tangible assets 9 Current assets Debtors 10 29,057 Cash at bank and in hand 437,448 466,505 Creditors: amounts falling due within one year 11 (122,980) Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2020 £ £ 15,009 40,078 332,589 372,667 (113,224) 343,525 358,534 275,507 83,027 358,534 |
£ 32,167 259,443 |
|---|---|---|
| 291,610 | ||
| 241,708 49,902 |
||
| 291,610 |
The financial statements were approved by the Trustees on 5 April 2022
Ghassan Cohen Moshe Moses Chairman Treasurer
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Ohel David Eastern Synagogue is an unincoporated charity constituted by a deed of trust on 31 July 1959 as amended on 28 February 2016.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds 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.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 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 benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Tenants Improvements 10% on cost Sefer Torah 5% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
3 Charitable activities
| Charitable activities Burial services 2021 2021 £ £ Collection Boxes 635 - Donations & memorial Plaque 59,747 - Income from hall 5,220 - Meshabarakh and donations 23,888 - Grants 3,391 - Membership subscriptions 48,855 - IR Gift Aid Refund 6,686 - HMRC JRS Grants 5,490 - Burial Income 37,169 153,912 37,169 Analysis by fund Unrestricted funds 153,912 - Restricted funds - 37,169 153,912 37,169 Investments Unrestricted Restricted funds funds 2021 2021 £ £ Interest receivable 1 30 |
Total 2021 Charitable activities Burial services 2020 2020 £ £ £ 635 2,217 - 59,747 41,861 - 5,220 1,200 - 23,888 13,809 - 3,391 3,157 - 48,855 44,960 - 6,686 7,044 - 12,265 12,265 - 27,850 27,850 191,081 126,513 27,850 153,912 126,513 - 37,169 - 27,850 191,081 126,513 27,850 Total Unrestricted Restricted funds funds 2021 2020 2020 £ £ £ 31 9 90 |
Total 2020 £ 2,217 41,861 1,200 13,809 3,157 44,960 7,044 7,044 40,115 |
|---|---|---|
| 154,363 | ||
| 126,513 27,850 |
||
| 154,363 | ||
| Total 2020 £ 99 |
4 Investments
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
5 Charitable activities
| Charitable activities Charitable activities 2021 2020 £ £ Wages 32,268 18,494 Pensions 95 53 Kuddush and refreshments 10,525 3,291 Security costs 6,145 5,196 Parashah reading 480 8,776 Donations 24,710 24,820 Bad debts 1,554 2,525 Sefer Torah depreciations 1,154 1,154 Tenants improvements amortisations 16,004 24,846 Burial expenses 3,400 21,380 96,335 110,535 Share of support costs (see note 6) 18,028 13,017 Share of governance costs (see note 6) 9,825 11,375 124,188 134,927 Analysis by fund Unrestricted funds 120,788 113,547 Restricted funds 3,400 21,380 124,188 134,927 |
Charitable activities Charitable activities 2021 2020 £ £ Wages 32,268 18,494 Pensions 95 53 Kuddush and refreshments 10,525 3,291 Security costs 6,145 5,196 Parashah reading 480 8,776 Donations 24,710 24,820 Bad debts 1,554 2,525 Sefer Torah depreciations 1,154 1,154 Tenants improvements amortisations 16,004 24,846 Burial expenses 3,400 21,380 96,335 110,535 Share of support costs (see note 6) 18,028 13,017 Share of governance costs (see note 6) 9,825 11,375 124,188 134,927 Analysis by fund Unrestricted funds 120,788 113,547 Restricted funds 3,400 21,380 124,188 134,927 |
Charitable activities Charitable activities 2021 2020 £ £ Wages 32,268 18,494 Pensions 95 53 Kuddush and refreshments 10,525 3,291 Security costs 6,145 5,196 Parashah reading 480 8,776 Donations 24,710 24,820 Bad debts 1,554 2,525 Sefer Torah depreciations 1,154 1,154 Tenants improvements amortisations 16,004 24,846 Burial expenses 3,400 21,380 96,335 110,535 Share of support costs (see note 6) 18,028 13,017 Share of governance costs (see note 6) 9,825 11,375 124,188 134,927 Analysis by fund Unrestricted funds 120,788 113,547 Restricted funds 3,400 21,380 124,188 134,927 |
|---|---|---|
| 2021 £ 32,268 95 10,525 6,145 480 24,710 1,554 1,154 16,004 3,400 96,335 18,028 9,825 124,188 120,788 3,400 124,188 |
2020 £ 18,494 53 3,291 5,196 8,776 24,820 2,525 1,154 24,846 21,380 |
|
| 110,535 13,017 11,375 |
||
| 134,927 | ||
| 113,547 21,380 |
||
| 134,927 |
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 6 Support costs Support costs Governance costs £ £ Rates and water 809 - Light and heat 8,722 - telephone 2,037 - Postage and stationery 745 - Sundries 1,768 - Subscriptions 516 - Repairs and renweals 3,101 - Bank interest 330 - Accountancy - 2,400 Legal and professional - 7,425 18,028 9,825 Analysed between Charitable activities 18,028 9,825 |
2021 Support costs Governance costs £ £ £ 809 143 - 8,722 4,874 - 2,037 876 - 745 907 - 1,768 2,128 - 516 216 - 3,101 3,632 - 330 241 - 2,400 - 2,400 7,425 - 8,975 27,853 13,017 11,375 27,853 13,017 11,375 |
2020 £ 143 4,874 876 907 2,128 216 3,632 241 2,400 8,975 |
|---|---|---|
| 24,392 | ||
| 24,392 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 |
|---|---|
| Number | Number |
| 6 | 6 |
There were no employees whose annual remuneration was more than £60,000.
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 9 Tangible fixed assets Tenants Improvements Sefer Torah £ £ Cost At 1 January 2021 248,460 23,086 At 31 December 2021 248,460 23,086 Depreciation and impairment At 1 January 2021 232,455 6,924 Depreciation charged in the year 16,004 - Eliminated in respect of disposals - 1,154 At 31 December 2021 248,459 8,078 Carrying amount At 31 December 2021 1 15,008 At 31 December 2020 16,005 16,162 10 Debtors 2021 Amounts falling due within one year: £ Trade debtors 25,236 Other debtors 3,821 29,057 11 Creditors: amounts falling due within one year 2021 £ Other taxation and social security 75 Trade creditors 1,005 Other creditors 119,490 Accruals and deferred income 2,410 122,980 |
Total £ 271,546 |
|---|---|
| 271,546 | |
| 239,379 16,004 1,154 |
|
| 256,537 | |
| 15,009 | |
| 32,167 | |
| 2020 £ 35,057 5,021 |
|
| 40,078 | |
| 2020 £ 163 6,188 97,483 9,390 |
|
| 113,224 |
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OHEL DAVID EASTERN SYNAGOGUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 12 Analysis of net assets between funds Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 December 2021 are represented by: Tangible assets 15,009 - Current assets/ (liabilities) 68,018 275,507 83,027 275,507 |
Total Unrestricted funds Restricted funds 2021 2020 2020 £ £ £ 15,009 16,162 16,005 343,525 33,740 225,703 358,534 49,902 241,708 |
Total 2020 £ 32,167 259,443 |
|---|---|---|
| 291,610 |
13 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
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