**Charity registration number 1166039**
## **OHEL DAVID EASTERN SYNAGOGUE**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **OHEL DAVID EASTERN SYNAGOGUE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Ghassan Cohen Samy Dallal Yakthan Cohen David Gigi Moshe Moses
**Charity number** 1166039 **Independent examiner** Syed Taufiq Pasha, FCCA 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 - 14|
## **OHEL DAVID EASTERN SYNAGOGUE**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 December 2023.
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 147 (2022: 146).
The synagogue conducted the burial of three members during the year.
## **Financial review**
The charity made a deficit of £6,691 (2022: deficit £8,818) during the year. This deficit excludes the movement in the restricted fund which gave rise to a surplus of £5,338 (2022: £20,754).
At 31 December 2023 the unrestricted funds of the charity were £67,518 (2022: £74,209). The restricted funds of the charity were £301,600 (2022: £296,261).
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 £52,565 (2022: £65,860), income from donations and for the memorial plaque including gift aid of £54,425 (2022: £45,757) and Meshabarakh & weekly donations of £13,477 (2022: £19,502).
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.
- 1 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **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: 20 June 2024
## **Moshe Moses**
Treasurer Dated:20 June 2024
- 2 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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.
- 3 -
## **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 2023.
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 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.
Syed Taufiq Pasha, FCCA **Pasha & Co.**
220 The Vale Golders Green London NW11 8SR
Dated: 20 June 2024
- 4 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Current financial year**
|**Current financial year**|||
|---|---|---|
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
13,452
-
Charitable activities
**4**
115,784
38,085
Investments
**5**
1,609
2,205
**Total income**
130,845
40,290
**Expenditure on:**
Charitable activities
**6**
137,536
34,952
**Net (expenditure)/income for the year/**
**Net movement in funds**
(6,691)
5,338
Fund balances at 1 January 2023
74,209
296,261
**Fund balances at 31 December 2023**
67,518
301,599|**Total**
**2023**
**£**
13,452
153,869
3,814
171,135
172,488
(1,353)
370,470
369,117|**Total**
**2022**
**£**
-
186,686
157|
|||186,843|
|||174,907|
|||11,936
358,534|
|||370,470|
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**
|**Prior financial year**||
|---|---|
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Charitable activities
**4**
152,856
33,830
Investments
**5**
128
29
**Total income**
152,984
33,859
**Expenditure on:**
Charitable activities
**6**
161,802
13,105
**Net (expenditure)/income for the year/**
**Net movement in funds**
(8,818)
20,754
Fund balances at 1 January 2022
83,027
275,507
**Fund balances at 31 December 2022**
74,209
296,261|**Total**
**2022**
**£**
186,686
157|
||186,843|
||174,907|
||11,936
358,534|
||370,470|
- 5 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**2023**
**Notes**
**£**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
21,174
Cash at bank and in hand
509,640
530,814
**Creditors: amounts falling due within**
**one year**
**13**
(192,620)
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds|**2022**
**£**
**£**
30,923
17,537
449,339
466,876
(129,495)
338,194
369,117
301,599
67,518
369,117|**£**
33,089
337,381|
|---|---|---|
|||370,470|
|||296,261
74,209|
|||370,470|
The financial statements were approved by the Trustees on 20 June 2024
Ghassan Cohen **Chairman**
Moshe Moses **Treasurer**
- 6 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **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.
- 7 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **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.
## **3 Donations and legacies**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**||
||**2023**|**2022**|
||**£**|**£**|
|Other|13,452|-|
- 8 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **4 Charitable activities**
|**Charitable**
**activities**
**Burial services**
**2023**
**2023**
**£**
**£**
Collection Boxes
161
-
Donations & memorial
Plaque
44,136
-
Income from hall
6,762
-
Meshabarakh and
donations
25
-
Grants
1,846
-
Membership
subscriptions
52,565
-
IR Gift Aid Refund
10,289
-
HMRC JRS Grants
-
-
Burial Income
38,085
115,784
38,085
Analysis by fund
Unrestricted funds
115,784
-
Restricted funds
-
38,085
115,784
38,085|**Total**
**2023**
**Charitable**
**activities**
**Burial services**
**2022**
**2022**
**£**
**£**
**£**
161
27
-
44,136
46,757
-
6,762
14,770
-
25
19,502
-
1,846
-
-
52,565
65,860
-
10,289
5,940
-
12,265
-
-
27,850
33,830
153,869
152,856
33,830
115,784
152,856
-
38,085
-
33,830
153,869
152,856
33,830|**Total**
**2022**
**£**
27
46,757
14,770
19,502
-
65,860
5,940
5,940
33,830|
|---|---|---|
|||186,686|
|||152,856
33,830|
|||186,686|
- 9 -
|**Total**||**2022**|**£**|157|
|---|---|---|---|---|
|**Restricted**|**funds**|**2022**|**£**|29|
|**Unrestricted**|**funds**|**2022**|**£**|128|
|**Total**||**2023**|**£**|3,814|
|**Restricted**|**funds**|**2023**|**£**|2,205|
|**Unrestricted**|**funds**|**2023**|**£**|1,609|
##
|**Investments**|Interest receivable|
|---|---|
|**5**||
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **6 Charitable activities**
|**Charitable**
**activities**
**Charitable**
**activities**
**2023**
**2022**
**£**
**£**
Wages
46,073
24,006
Pensions
222
114
Kuddush and refreshments
24,444
21,962
Security costs
12,054
6,738
Parashah reading
13,525
10,050
Donations
22,563
41,285
Sefer Torah depreciations
2,166
2,166
Burial expenses
3,294
13,598
124,341
119,919
Share of support costs (see note 7)
40,290
46,393
Share of governance costs (see note 7)
7,857
8,595
172,488
174,907
**Analysis by fund**
Unrestricted funds
137,536
161,802
Restricted funds
34,952
13,105
172,488
174,907|**Charitable**
**activities**
**Charitable**
**activities**
**2023**
**2022**
**£**
**£**
Wages
46,073
24,006
Pensions
222
114
Kuddush and refreshments
24,444
21,962
Security costs
12,054
6,738
Parashah reading
13,525
10,050
Donations
22,563
41,285
Sefer Torah depreciations
2,166
2,166
Burial expenses
3,294
13,598
124,341
119,919
Share of support costs (see note 7)
40,290
46,393
Share of governance costs (see note 7)
7,857
8,595
172,488
174,907
**Analysis by fund**
Unrestricted funds
137,536
161,802
Restricted funds
34,952
13,105
172,488
174,907|**Charitable**
**activities**
**Charitable**
**activities**
**2023**
**2022**
**£**
**£**
Wages
46,073
24,006
Pensions
222
114
Kuddush and refreshments
24,444
21,962
Security costs
12,054
6,738
Parashah reading
13,525
10,050
Donations
22,563
41,285
Sefer Torah depreciations
2,166
2,166
Burial expenses
3,294
13,598
124,341
119,919
Share of support costs (see note 7)
40,290
46,393
Share of governance costs (see note 7)
7,857
8,595
172,488
174,907
**Analysis by fund**
Unrestricted funds
137,536
161,802
Restricted funds
34,952
13,105
172,488
174,907|
|---|---|---|
||**2023**
**£**
46,073
222
24,444
12,054
13,525
22,563
2,166
3,294
124,341
40,290
7,857
172,488
137,536
34,952
172,488|**2022**
**£**
24,006
114
21,962
6,738
10,050
41,285
2,166
13,598|
|||119,919
46,393
8,595|
|||174,907|
|||161,802
13,105|
|||174,907|
- 11 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **7 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Rates and water
250
-
Light and heat
5,015
-
Light and heat
17,173
-
telephone
1,300
-
Postage and stationery
827
-
Sundries
549
-
Subscriptions
1,056
-
Repairs and renweals
13,568
-
Bank interest
552
-
Accountancy
-
2,400
Legal and professional
-
5,457
40,290
7,857
Analysed between
Charitable activities
40,290
7,857|**2023**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
250
157
-
5,015
1,580
-
17,173
14,603
-
1,300
1,153
-
827
90
-
549
1,159
-
1,056
846
-
13,568
26,213
-
552
592
-
2,400
-
2,400
5,457
-
6,195
48,147
46,393
8,595
48,147
46,393
8,595|**2022**
**£**
157
1,580
14,603
1,153
90
1,159
846
26,213
592
2,400
6,195|
|---|---|---|
|||54,988|
|||54,988|
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|**2023**|**2022**|
|---|---|
|**Number**|**Number**|
|4|6|
There were no employees whose annual remuneration was more than £60,000.
## **10 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 12 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**11**
**Tangible fixed assets**
**Tenants**
**Improvements**
**Sefer Torah**
**£**
**£**
**Cost**
At 1 January 2023
248,460
43,333
At 31 December 2023
248,460
43,333
**Depreciation and impairment**
At 1 January 2023
248,460
10,244
Depreciation charged in the year
-
2,166
At 31 December 2023
248,460
12,410
**Carrying amount**
At 31 December 2023
-
30,923
At 31 December 2022
-
33,089
**12**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Trade debtors
20,053
Other debtors
1,121
21,174
**13**
**Creditors: amounts falling due within one year**
**2023**
**£**
Other taxation and social security
203
Trade creditors
1,646
Other creditors
188,327
Accruals and deferred income
2,444
192,620|**Total**
**£**
291,793|
|---|---|
||291,793|
||258,704
2,166|
||260,870|
||30,923|
||33,089|
||**2022**
**£**
15,216
2,321|
||17,537|
||**2022**
**£**
113
1,881
125,090
2,411|
||129,495|
- 13 -
## **OHEL DAVID EASTERN SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**14**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
30,923
-
Current assets/(liabilities)
338,194
-
369,117
-|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
30,923
33,089
-
338,194
337,381
-
369,117
370,470
-|**Total**
**2022**
**£**
33,089
337,381|
|---|---|---|
|||370,470|
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 14 -