ocusign nve Registered number.. 10514105 Charity number: 1171418 SIGNJING copy SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company limited by guarantee) INDEPENDENTLY EXAMINED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Gsffj&co Griffin Stone M05crop& Co 100 YEARS
Docu8*n EnvekiFe ID.. 2FAF9771>70C7459W99526963D1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmited by guarantee) co1rrErS Page Refarence and admlnlstratlvo d8talls of the Company. lis Trust••s and advlsers Trustse8' roport Independent examine$ r•port Statement of flnanctal actlvltles Balance sheet 10 Ststement of cash flows 11 Notes to the financial 8tatsments 12-27 lffln Stone Moscrop & Co
DSIgn Envelope ID.. 2FAFgTIO.70C7459>82gD1EEKs SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A Company IlmEi8d by guarantsel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 PAARCH 2024 Trustg9s L Gold J Khedoory R Wodf Iresigned 3 December 2¢y23) A Fr8d8ricks (appointed 3 DeCber 2023} F Holmes {appoinled 3 December 20231 A Kelmanson lappoinled 3 December 20231 P Sandl8r (appointed 3 December 2023) D Shoffren (appointed 3 December 20231 A Laurgnce J Hyam5 (resigned 3 December 20231 B Came A Mitchdl N Franks S Ingle (resigned 21 June 20231 Company roglstered number 10514105 Charlty regi5tored numbor 1171418 Roglstered office 120 Oakleigh Road North Whatslone London N20 9EZ Accountants Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Gonduil Street London WC1N 3GS Bankers Barclays 8ank pic 1250 High Road London N20 OPB Page 1 iffin Stone Mosuop& Co
DDcuslgn ErNebpe ID.. 2FAF977fy7(E7459M29W8WD1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Ilmlted by guaranteè) TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2024 The Trustees present their annual report together with the finanual statements of th& Company for the year ended 31 March 2024. The Annual report serves the purpos8s of both a Trustees, report and a directors. report under company law. The Trustees confirm that the report and financial statemènts of the charitable company compty with the current stslulory requirements, the requirements of the charitable companls goveming document and the provisKJns of th8 Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance wth the Financial Reporb"rvJ Slalldard applicable in the UK and Republic of Ireland IFRS1021 {effective 1 January 20191. sin the Company qualrfies as small under sect)n 382 of the Companies Act 2006, the Slralagic report reqLJired of medium and large companies under the Companies Act 2006 (Slrategio Report and Directors, Report) Regulations 2013 has Èeen omrtted. Objectlves and actfvltig5 a. Pollclos and objectlves Th8 objects of the charity are as follows.. The advancement of the Jewish religion through the provision of tBlvJious services in such fomi as shall from lime lo lime bè 4818rnined by the trustees. the provision arKI maintenaneÉ of a place of worship and the arrangements of marriages, burials and cremations for mgmbgrs., - The advancemenl of educab'on in particular through Ihe provision of ¢lass8s in Hebrew and religion,, - Such other charitable objects as the trustees may consider time to time athi50b. The aims of the charity are lo put in plane and monitor the various policies and activitie5 OUtlin8d in the Strategic and Operational Plan. In setting objectNes 8nd planning for aetÉvits, the Trustees ha given due consideratK)n to general guidance published by the Charity CommissK*n reLab"ng to public benefft. induding the guidance 'Public benefit.. running a charity IPB21'. b. Actlvltles undertakon to •Ghieve objectlves We conlinu&l lo provide the charities main activit$ of religion sam, worship and educ8lvJn. The cor8 ocbvity of the chaTity is the prowsion of relpJious serVS by our rabbinic team, sUPPOrtèd by our18y members. We used both online and in person innovation to invest in Jvthsh educatKJn through our religion school, the B'nei Mlovah classes and infomial adult education classes. Aknim kindergarten continued to thrive and provide outstanding support and educth.on for prevschwl chitdren. In addition to the Trustees, Report 8nd Annual Report and Financial Accounts, a separate booldet is available to member5 detailing the specific actNitie3 of the sub-commit188s and lunctions of the charity. Volunlaers from the mernbership play a crucid role. Wrthout their support and goodwill, the charity would not be able to carry on ils actNiti8S. Page 2 fyiffin Stone Moscrop &Co
Docuslgn Envelope ID.. 2FAF9777aC74S9wgS269S3DlEEe3 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmlied by guardnteg) TRUSTEES. REPORT IcowfiNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and porforman a. Revlew of actlvltles This yèar we On more c8m8 toggther a5 one community at JCOSS. W8 held a range of services that wore w811 attended. We also held a range of events for 18sts"vaL8 that were well attended. The choir and Koloinu band have b8en actnie. Our new generatic)n of wardens are gnIng in experience. The Synagogue is running a number of adutt education courses. including 'Galeways lo Judaism, Introduction to Leyning and Modern Hebrew. A number of sccial clubs lake pL8ce. including Communty Hub, Lunth & Chal, Bridge Club. Book Club, Huddle for Isr881 Group and Cuppa & ChaL Enquiries from prosp8dnM mernbeFS remain sleJy. Sha'arei Tsedek is well placed in th8 area to attract potential familigs as it is the only synagogue with three good Jewish primary schools close by. We welcomed 32 adult and 28 child members in 2023-2024. We cdebrated 14 B'nei Milzvah in the past academic year and have started the new term Imth 33 children in the 2 year course enrolled for 2024-2025. At the start of the now term in September 2024 thare were 19 students enroued in RdigB)n School. and this number is likely to increase in the coming months. In March 2024 our cc¥mmunity hehj a fvndraising evening with Daniel Calnerto support the synagogug. Dementia Club UK ctsnlinues to use our synagogue for one of their m05t suSfiJl monthly mèetings. Alonim remains a th8rished part of our ¢>)mmunty offollng a wann and vibrant enmronment for young children and their families. Financial revlew a. OveNiew The charity made a surplus of £23,341 for the year (2023.. a deficit of £2,316). The surplus excludes a nel surplus lor r8slri¢led purposes of £9,1gE {2023.' net surplus of £3.948}. The unrestricted surplus arose from income of £741,103 {2023'. £714,232) ths expenditure of £726.95812023.' £720,496). Al 31 March 2024 the unrestricted funds of the charty were £1,138 {2023.' £886,991) vthich 18 more than accounted fDr by th8 amount represent1 by land and buildings and fixtures and ffltings. min resources The two main components of unrestriced income wer& membership subscriptions of £284,527 {2023'. £291,736> including related gift aid and Alonim income of £195.461 {2023'. £169.311}. Membèrship subscriptions were 2.5Yo lowerthan last year and Alonim income was 15.4% hTrgher. Resources ex ended Total unrestricted expenditure of the chanty was 1% higher than the previous year. b. Golng concern After making appropriate enquiries, the Trustees have a reasonable &xp8ctalion that the Company has adequate resources to continue in operationa eIence for the fLYeseeable future. For this reason, they continue lo adopt the going con basis in preparing the finan¢io1 statements. Page 3 Str)ne M¢xcrop & Co
DoDJ8Tgn Envelope ID.. 21977(77459>e299-52Go53DlEEs3 SHA'AREI TSEDEK NORTH LONt)ON REFORM SYNAGOGUE IA company Ilmlted by guarants81 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 c. Reserves policy The re8erves are sel out in the balance sheet and accompanying notes. The charity's principal asset is ils building whicth has no loans outstanding on IL The present level of fijnding is general sufficient to support lh8 activities of the charity which depends on the 18vel ol membership fees and income from Aonim. The Iruslèes have also secured bank facilities to secure the chanty to ensure that reserves are maintained al levels to try and maintain positive cash flow anij to meet any contingencies requiring rmmediate &xpendiluTe. The financial statèments for the period are set oul in fhe attached documents. Building reserves to sU[e the long tem) future of thè charÉty is a major challenèe which th8 trustees acknowledge and appropriate rfftasures wll continue to be taken to athieve this. Thè investment in education is getting moro expensive every year and this year the charitys position will be impaded *Jditionally by tax ris on empb)ymenL The Iruslees have identffjiad the need to increase income from oth6r sources including fvnd raising and18gacy markeb'NJ lo build much needed Teserv8S. At 31 March 2024 the charitys unrestrict•J reserves were £901.136 {2023.. £886,991). The restricted and unreslricled lunds are shown in note 17. d. Prfndpal rlsks and uncgrtalntlgs Al trustees, meeb'ngs risks faced by the charity are feMthv8d relative to their signfficance. Thè primary risks are considerod lo be.. Securrty of p6ople attending the premises. Security 18 regularty reviewed in conjunction with the extemal advisers and appropriate action taken based on an assessment of perceived risk. Trustees are rnindful that the ageing demographic profile of the membership is impacting membership Inrne genei81ion. . Regular attention to cash fflow. Page 4 iffin Stone Moscrop & Co
DD¢uwgn Envelop6 ID: 2FAF9777OG7459329g63O1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmtted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 NiARCH 2024 Structure. governance and management Con5tttutlon Sha'arei Tsedek North London Refomi Synagogue Is registwgj as a charitable company limi18d by guaranlge and was set up by a Memorandum ofAssoci*ion on 6 D)ber 2016. Tha company is consb"luted under a Mwnorandum of Association dated 6 D8cember 2016 and is a register&d charity number 1171418. The charity is a company limited by guarantee and was registered with the Charity Commission on 1 February 2017. The mernbers of the ¢omp8ny are the members of the Synagogue as defined in tho Articles Of Association. Tho liabilty of each member is limited lo a sum not exceeding £1, trking the amount each mgmber undertakes to conlribul8 lo th8 assets of the charity in the event of rts dissolution whilst they are member8 or within one year of them ceasing to be a mèmber. b. Methods of appointment or ele¢tion of Trust•es The manorneTrt of the Company is the rgspmsibilty of the Trustees are elected and ctrcyted under the temis of the M8morandum of A5socialir)n. Plans fer future perfods W8 plan to raisg funds to repair the fabric of the Synagcsu8 building and to develop further our high quality Religion sch(1 and B'nei Mitzvah programme5. Statsmont of Trustees. respon5ibilltiOS Thè Trustees Iwho ar8 also the directors of the Company fr)r the purposes of company law) are responsible for praparing the Trustees, report 2nd the financial statèmènts in accordance wth applicable law and United Kingdom Attountlng Standards Iunilgj Kingdom Generalty Accepted Accounting Practice). C¢Jnp8ny law requires the Trustees to prepare financial statanents for each financial . Under company law, the Tru51ees musl not approve the financial stslwn8nts unless they are Satisfied that they gwe a true and fair view of the state of affairs of th8 Cornpany and of tts incoming resources and application of resources, including its incom8 8nd expendtture, for that period. In preparing these fin8nck41 statements. the Trustees ar8 r8quired lo.. select suitsble accounting poltcies and then apptythem consistent. ob$8rve the methods and principles of the Charities SORP IFRS 102)-, m8ke judgements and accounting esb"mate5 that are reasonable and prudent 5ts1e whether applicable UK Accounting Standards {FRS 102) have been folbwed, subject to any material dèparture5 disclosed and elaIned in thè finan stslements., prepare the financial stslements on the going corbcem basis unless it is inappropriate lo prosume that the Company will continue in business. The Trusteès are responsibl8 for keeping adequato accounting rOrdS that are sufficvant to show and explain the Company's transactions and disclose wrth reasonable ac¢uraw al any lime the financial posrtion of the Company and enable them to ensure that the financ(al statements comply with the CoMpanS Act 2006. They aré also responsible for safeguarding the assets of the Company and h&nce for taking reasonable steps for the prevention and detection of fraud and oth& irreguiarlts'os. Page 5 Griffin Stone k)ScrOp & Co
DOcu5n Envebpa ID.. 2FAF977(k70C7459M2W283o7EE6y SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company limited by guarnntso) TRUSTEES. REPORT IcoKllNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Approved by order of the members of the boaTd of Trustees and signed on thair behalf by.. B Carne Treasurer Date.. 9 December 2024 Page 6 Griffin Stone M05crop & Co
DouJsKJn En¥ebpe ID.. 2FAF977o-70c7459>82526963D1EE83 SHA'AREI TSEDEK NORTH LONt)ON REFORM SYNAGOGUE (A company Ilm5tsd by guarantee INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examlnels roport lo the Trusiees of Sha'arel Tsedek North London Rofonn Synagogue {Iha Company'l I report to the chaTtty Trustees on my examination of the accounts of thé Company for the year ended 31 March 2024. R8sponslbllltl8s and basls of report As the Trus1g&s of the Company {and its director5 for the purposes of company law} you are responsible for the preparation of the xcounts in accordance with the requiiements of the Companies Act 2006 l%he 2006 Act,), Hawng satisfied mys8K that the accounts of the Company are not required lo be audited under Part 16 of th& 2006 Act and a eligible for independent examination. I report in respect of my examination of the Companls accounts carriad out under section 145 of the charit Acl 2011 Ilha 2011 Act'l. In carrying out my examination I have followed the DireGtions gwen by the Charity C(xnmission under seclion 145{51{bl ol the 2011 Act. Pago 7 Grfffin Stone M¢%crop & Co
DDoJslgn Énvekpe ID.. 2FAFQ77774sg295DlEE63 SFIA'AREI TSEDEK MORTH LONI)ON REFORM SYNAGOGUE A company Ilmltod by guafants81 INDEPENDENT EXAMINER'S REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Independent examinorfs ststsment Since the Companls gro55 incoTh exceeded £250,000 your examiner must be a memb8r of a body listgd in section 145 of the 2011 A¢L I confim that l am quaI[fi to underta8 th8 8xaminalion because l am a m8mber of the ICAEW, which is one of the listed bodies. I have completed my examination. I confim that no matt8r3 have come to my attention in connection with the examination giving me cause to believe.. accounting records wer8 not kept in rospert of the Company a$ required by sgction 386 of tha 200S Act,, the acxounls do not r wrth those records; or the aoU do not compty with the accounting requirements of section 3 of the 20oie Act othor than any requir0nI that the accounts gNe a Irue and fairf view which is not a matter considered as part of an independent 8xarnination', or the aeeounl8 have not been prepared in accordance th th8 methS and principles of the Statement of Recommended Practice for attounting and reporting by charities lapplicAble lo charities preparing their accounts in accorfanca with the Financi Reports"ng Standard applicable in Ihe UK and R8public of Ireland IFRS 10211. I have no conc8ms and have cc4ne acn)ss other mattars in connection wth the eiamination to which 0118nlion should be drawn in this report in order to enab a proper understanding of thg accounts to be reached. This repori is rnade solely to the Companrfs Trustees. as a bth. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My %WTk has been undertaken so that I might state to tha CompanI8 Truslees those matteTS l am required to state to them in an Independent examinerfs report for no other purpose. To the full8sI extent pem)itted by I. I do not SpI or assume responsibility to anyone other than the Company and the Company's Trustees as a Iy, for my WO or for this reporL Signed.. Robert Smith Dated.. 9 Dmber 2024 ACA Griffln Stone Moscrop & Co Chartered Accounlants 21-27 Lamb's Conduit Street London WC1N 3GS Page 8 Grfffln Stone Moscrop &Co
DocuB*n En¥elop8 ID., 2FAF9771>70C7459U29&526963D1EE63 SHA'AREI TSEDEK MORTH LONDON REFORM SYNAGOGUE (A compaDy limited by guarnDtse} STATEMENT OF FINANCIAL ACTivmES UNCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted fund$ 2024 Restricted nds 2024 Total funds 2024 Total funds 2023 Not• Income from.. Donations and leg&ies Charitable actNities Other trading actwities Investments Olh8t incom8 12P46 515,750 226,316 6.248 508,548 201.591 8.292 260 226.316 6,248 332 4,803 113 4M03 Total Income 741,103 12A59 753,$62 722,555 Expendlture on: Raising funds Charitabl& activilies 13.697 713.261 13,897 716.524 18,517 706,354 3,263 Total gxpendlture 726,958 3,263 730.221 724,871 Net movement In funds 14145 9,196 23.341 12,316} Reconclllatlon of funds: Total fvnds brought forward 886,991 43,029 930,020 932.336 Total funds carried foTh¥ard 1,136 52.225 953,361 930,020 The Statement of financial activities indudes all gains and k)sse8 recognised in the y&ar. Tha notes on pages 12 to 27 forn part of Ihese finan01 staterrEnts. Page 9 GrTrffin Stone Moscrop & Co
Dw$lgn Envelope ID.. 2FAF97T(>70C7459&82W526963D1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guarantee> REGISTERED NUMBER: 10514105 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 13 930,677 938,701 930.6YT 938,701 Current assets Debtors Cash al bank and in hand 14 31,885 68.523 35,667 33,245 .408 68,912 Creditors.. amounts falling due wlhin one year 15 (67,7241 (77,593) N9t current assets I Ilabllltss 21684 (8,6811 Total assets less current liabllltles 953,361 930,020 Total net assets 953,361 930,02Q Charity funds R8slricted funds Unrestricted funds 17 62.225 901.136 43,029 886.991 17 Total funds 953,361 930,020 Th8 Companywas ent[t to exeryth?n from audit under section 477 ofthe Companies Act 2006. The m&mbers have not required the company to obtain an audit for the year in qugslion in accordance section 476 of Companies Act 20C6. The Trustees acknowlge their responsibilities for complwng with the requirements ¢f the Act with respect to accounting records and preparation of financial strtents. The financial statements havg been prepared in accordance Nwth the provisions applicable to enlili85 subject to th8 small Goryanies regime. The financial stalemenl$ were approved and authorised for issue bythe Trnsteas atKI signed on their behaw by: B Carne Treasurer Date.. g December 2024 The notes on pag8s 12 to 27 form part of these ffnaThial statwnerrts. Pago 10 Griffin Stone Moscrop & Co
Docuslgn Envebpe ID.. 2FAF977(h70c7g>8298D1 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limitod by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operatlng actlvltbes N8t cash used in operating activiti85 27.251 117,6201 Cash flows from Investing actlvliles Dividends. interests and rents frtsm investments Purchase of tangible fixed assets 260 12,700) 12,418) Net cash used in inv•stlng activhles {1.973) (2,4401 Cagh flows from Ilnancing •ctlvltles Ngt cash provldad by financlng actlvities Change In ¢ash and cash oqulvalents In the year Cash and cash equivalents at the beginning of the year 25.278 120.060) 53,305 33,245 Cash and ush equivalonts at the and of the year 58.523 33,245 The notes on pages 12 to 27 fomi part of these finanetal StatentS Pagé11 Griffin Stone Moscrop & Co
Docuslgn Enblope ID.. 2FAF977(k7GC7459296g63DlEE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guardnteè) NOTES TO THE HNAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiatlon Sha'arei Tsedek North London Refomi Synagogue is a company limited by guarantee and was incorporated in England, and is registered as a charity with the Charity Commission ol England and Wales. The registered office is displayed on the referen and administratwe details of the charity page ttsJether wth the registered number and charrty number. Accountlng pollcles 2.1 8asl$ of preparatlon of financial $tatemnts The finaneial stslemenls have been prepared in accordancè th the Charities SORP IFRS 1021- Accounting and ReFL)rting by Charities: Statement of Recommended Practice applicable lo charitie8 preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and RepLJblic of Ireland {FRS 102) leffeclwe 1 January 20191. the Financial Heporttng Stsndard applicable in the UK and Republic of Ireknd IFRS 102) and the Companies Acl 2006. Sha'arei Tsedek North London Reform Synagogue rneets the definition of a public benefrt entity under FRS 102. Assets and liabilitie5 are in((ially recogni91 at historical cost or transaction value unless otheN4ise stated in the relevant acc£Juntlng policy. 22 Incomè l Iorne is recognised once the Company has ènlit18ment lo the income, it is probablè that thg incom8 will be received and the amount of incc¥ne receivable can be measured reliably. Grants are included in the Statament of financial adNities on a receivable basis. The balance of incorne receNed for spec1f purposes but twl expended during th8 period is shown in the televanl funds on the Balance sheet. Where income is received in advance of enlillemenl of receipt, ils recognition is deferred and induded in credrtors as deferred Incc4n8. Where enlillement occurs beforè inc>)me is recenied, the income is acwed. Income tax recoveiable in relat*Jn to investmont income is recognised at the time the investment income is receivable. other income 18 racognised in the period in whith it is receivable and lo the extent the goods have been provided or on completion of the seNic8. 2.3 Expondlture Expenditure is recognised once there is a legal or consltuctive oblHJation to transfar economic b&nefil to a third party, it is probable that a trar)sfer of economic nefItS will be required in settlèment and the amount of the obligation can be naSUred rdiabty- Expenditure is classified by aclwity. The c051s of each actiwty are made up of the totsl of dired costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single actnriiy a allocated directly to that aCtity. Shared costs which contribute to more than on& actNty and support CDSts whh are not attributable to a single activity are apportioned bthèen those activities on a basis consistent with the use of resources. Centr81 slaff costs are alloGoled on the basis of time spent. and depreciatn charge$ Jlocated on the poon of the asseys use. EyendIre on raising funds indude$ all expenditure incurrèj by the Company lo raise funds for its charilable pufposes and includes costs of all fundrSIng actiwlies events and n0Charitabl& trading. Page 12 Grlffin St(m@ Moscr(p & Co
DOCU9 Envelope ID.. 2FAF9777QC74w82gs26DlEEfj5 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmlt8d by guaranta8} NOTES TO THE FINANCIAL STATEPdiEiirs FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos Icontlnugd 22 Expendlturn Icontlnued Expenditure on charitable actNities is ineJJrred on directy unt1ertaking the tivI.8$ which furth8r thé Companys thjecbves, as well as any &850ciated support Costs. l expendilure 18 inclusNe of irrecoverable VAT. 2A Tanglble fixèd assets and dèprecIaOn Tangible fixed assets costing £500 or moro are capitalised and recognised when tUre economic benefits are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are inthalty recognised al c05t. After recognition, under the cost model, tangible fixed assets are measured at Cost less accumulated depreciation and any accumulated impairmont loss8s. 1 costs incurred lo bring a tangle fixgj asset into it$ intended working co[((10n should be included in the measurement of cost Depwiallon is charged 80 as to allocate the cost of tangible fixed assets loss their residual value over their estimated useful INes. . Depreciation is provKled on the follo•ding bases.. Freehokj property Fixtures and fitb'ngs 10 years on a straight line basi8 5 to 10 years on a straight line basis 2.5 Debtors Trade and other debtors are recognise(l at the setsjement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bankand in hand Cash at bank and in hand incEudes cash and short4errn highw liquid investments wth a short maturity of three months or less from the date of acqUiS"0n or opening of Ihe dèposit or similar account. 2.7 Liabilitlos and provlslons Liabilities are recognised when there is an thliga1ion at the Balance sheet dale as a result of a past event, il is prc+)able that a transfer of economic b8n8fft will be required in selilement, and the amount of the settlement can be estimabj reliab. Liabilities are recognised al the amount that the ffipany antiupates it wll pay to settle the debt or the amount il has received as advanc8d paym8nts for the gcx)ds or services il musl provide. Provisions are me2sured al thè best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the prowsion is based on the present value of those amounts, discounted at Ihe pr&tsx"discounl rate that reflects the risks sp8cific lo the liabilrty. The unwinding of the discounl is rectyJnised in the Statement of financial activlcios as a finance cost. Page 13 GrfffSn Stmè N05crop & Co
Oo(wlqn EnvelDpe10.. 2FAF977&70C7459>829W3D1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company Ilmlted by guarant•o1 NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2024 ounfjng poll¢lo5 lcontinuedl 2.8 Flnanclal Instruments The Company onw has financial assets and financial IBbilrti85 of a kind that qualfy as basic financial instruments. Basic financial inslruments are Initial recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which ar8 subseqU8nlty measured at amDrtiS8d cost using the effectN8 interest method. 19 P8nslons Th8 Company operates a defined contribution pension scheme and the pension charge repTesenls the amounts payabk by the Company to the fund in respect of the yèar. 2,10 Fund accounting General fund5 are unrestricted frjnds whh are avaiLgbb for use at the discretion of th8 Trusloos in furtheranc8 of th8 g8n&ral objedives of the Company and which have not been designated for other purposes. Restricted ful3 are funds which are to be used in ardance wth specrfic rostrictions imposed by donor5 or which have been raised by the Company for partKular pUse5. The costs of raising and administering such funds are charged against the specffic fund. The aim and use of each r&strict@d fu1 is sel out in the nol8S to tha financial statem•nts. Investment income. yains and losses are alltxated to tho appropriatg fund. Page 14 Grlffin stone M05crop &Co
Docusb)n En[ope ID.. 2FAFgYTO.70C7459&82W526963D1EE83 SHA'AREI TSEt)EK NORTH LONt)ON REFORM SYNAGOGUE (A company Ilmmed by guarnntee} NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2024 Income from donations and 18gacl8s Unrestrlcted Restrlcted funds fund$ 2024 2024 Total funds 2024 Donations Grants 415,041 88,363 12,346 427,387 88,363 Total 2024 503,404 12,34S 515,7SO Unwtrithd funds 2023 Restrided funds 2023 Total funds 2023 Donations Grants 420,8n 79,353 8,323 429,195 79,353 Total 2023 500.225 8,323 508,548 Income from charitable activities Unr8strl¢tod funds 2024 Total funds 2024 Abnim Kinderyarten Religious Education & Youth Community events Religious serv$ & Act11 195,d61 14.089 19S.461 14.089 16,766 16.766 Total 2024 226,316 226,316 Page 15 Grfffin Stcfftemoscrop & Co
D(Kusi9n Envelope ID.. 2NF9777745¥&82ws2Gg63DfjEE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limlted by guarnnteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incom• from charitable actlvltles (contlnuedl Unrestrided funds 2023 Total funds 2023 Alonim Kindergarten Religious Education & Youth Communty events Religious Services & Actimts'es 189.311 9.438 75 22,767 169,311 9,438 75 22,787 Total 2023 201,591 201,591 Income from other tradlng activitiey Incom• from fundraising gvents Unr•strict&d funds 2024 Total funds 2024 Activities generating funds 6,248 6,248 Total 2024 6,248 6,248 Unr8$lric18d funds 2023 Total funds 2023 Activities generaling funds 8,292 8,292 Total 2023 8,292 8,292 Page 16 Griffin Stone MCrop & Co
DoGUg Envelope ID.. 2FAF977(k70C74593-$29WS26963D1EE63 SHA'AREI TSEDEK NORTh LONL)ON REFORM SYNAGOGUE IA company limll6d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment Sncomg Unrestrfctgd R¢stricted funds funds 2024 2024 Total funds 2024 Interesl re¢eivabla 332 113 Total 2024 332 113 445 Unrestricted funds 2023 Total hjnds 2023 Intèrest receivabl8 260 260 Tetai 2023 260 260 Other incoming resources Unrestricted funds 2024 Total funds 2024 Other income 4.803 4.803 Total 2024 4,803 4,803 Unrestricted fijnds 2023 Total funds 2023 other inc(me 3,864 3,864 Total 2023 3,864 3.864 Page 17 Griffin Stone Moscrop & Co
DocuSn Erbv8k)pe ID.. 2FAF0770-70C7459&829W6963D1EE63 SHA'AREI TSEDEK Noimt LONDON REFORM SYNAGOGUE IA company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysls of expandlture on charltable actlvltlos Summary by fund type Unrostrlcted Restricted funds funds 2024 2024 Total 2024 Aknim Kindèrgarten Religious Education & Youth Religious servi & ACtltieS Affiliated parties 160,382 3,275 5C6.978 42.626 380 160.762 3,275 509,308 43,179 2,330 553 Total 2024 713.261 3.263 716,524 Unr8Stricted funds 2023 Restricted fvnds 2023 Total 2023 Ak)nim Kindergarten Religious Education & Youth Religious se5 & ArtiVeS Affiliated parties 139.563 2,676 496,358 63,382 139,563 2,676 500,733 63,382 4,375 Ttstal 2023 701,979 4,375 706,354 Anatysls of expenditure by activities undertaken dlreclly 2024 Support costs 2024 Total funds 2024 Ak)nim Kindergarten Religious Educatton & Youth Religious Servieès & Adivities Affiliated parties 91,851 3.275 341,925 42.626 68,911 160.762 3.275 509,308 43.179 167,383 553 Total 2024 479.677 236,847 716.524 Page 18 Griffln stone MCrop & Co
Docuslgn Ell70pe ID.. 2FAF9771>70Q745934299-526963D1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expend5ture by actlvwes Icontlnuedl undertaken direcdy 21Y23 Support costs 2023 Total funds 2023 Alonwn Kindergarten Religious Education & Youth Religious SeMce$ & Affiliatgd partios 72.276 2.676 332,933 fj3,382 67,287 139,583 2,678 500.733 63,382 167,800 Tal 2023 471,267 235,087 706,354 Anatysi5 of support costs Alonlm Rgllglous Klndergarte Servlces & ActiViaS 2024 Affiliated partles 2024 Total funds 2024 2024 Staff costs D9preciation Administrative & propety costs Events costs Governanee costs 13.313 4,1TI 46,601 70,919 6,265 88,336 1,863 84.232 10N42 135,490 1,863 4.820 553 4,820 Total 2024 68,911 167.383 553 236,847 Page19 Griffin sto Mtrop & Co
Docusi9n ETwek)pe ID.. 2FAF97TO-70CT459&&29s2D1EE83 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Ilmltod by guardnts81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysls of expendlture by actlvltles (contlnuodl Anafysls of support costs Icontinuod) Religious R8ligious SeNiees & SeNices & Activities Activities 2023 2023 Alonim lfjndergarten 2023 Total fund8 2023 Staff costs Depreciation Adminislrotive & propety costs Event costs Govemance costs 12.273 4.108 47.026 67.51 S 6,161 92,853 1,270 79,789 10,269 139,879 1.270 3,880 3,880 67.287 167,800 235,087 10. Independ9nt gxamlnerfs rgmunoratfon The independent examinerfs ramunerntion amounts to an indwndent examiner fee of £4,82012023 - £3,54Qll. 1. Staff costs 2024 2023 Wages and salaries sla1 security costs ContribulK)n to defined contribution pension schemes 389.484 23,143 20.017 376.142 20,746 18,993 432.644 41 S,881 The aver8ge number of persons ployed by the Ccqnpany during th8 rWa5 as foilows: 2024 2023 No. employees 33 35 Page 20 Grlffin stone Moscrop & Co
c)0rn ErNeknpe ID.. 2FAF9771%70C7459&82W26963D1EE63 SHA'AREI TSEDEK NORTH LONt)ON REFORM 8YNAGOGUE (A company Ilmltgd by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Staff costs Icontlnuedl The number of employees whose empbyee benefft5 lexduding employer pension costs) exceeded £60,000 was.. 2024 2023 In tha band £70,001- £80,QfrJ In the band £80,001- £90,OCM) The key management personnel of the charity consist of the board of tru51ees and the Synagogue Manager. Tolal employae benefrts paid lo key managwnenl personnel during the year was £54,806 {2023 - £49,395). 12. Trustees, remuneratlon and expe0$ During the year. no Trustees receNed any remuneTrb"on or other benefrts {2023- £NIL). During thé year 8TrJed 31 March 2024. no Tnjstee expen have been incurred {2023- £NIL). 13. Tangiblè fixed 889819 Freehold Fixtures and property fittings Total Cost or valuatlon Al 1 April 2023 Additions 1,027,750 139.397 2,418 1,167,147 2,418 At 31 MarBh 2024 1.027.700 141.816 1.169.565 Depreciation At 1 April 2023 Charge for the year 98,343 6,750 130,103 3,692 228,446 10,442 At 31 March 2024 105,093 133,795 238,888 Net book value Al 31 March 2024 922,657 8,020 930.677 At 31 March 2023 g29,407 9,294 938,701 Page21 (ffin Stone MoSCfDP & Co
DorsigN Envelope10.. 2FAF977(p71f74593429W6963DIEE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limlted by guarnnt•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1& Debtors 2024 2023 Dug wlthln ong yoar Trade debtors Olher debtors Prepaymerrts and accnJed income 16.029 11.365 4,491 20,159 9,352 6,156 31,885 35,667 1 S. Credltors: Amounts falling due vthhln one year 2024 2023 Trad8 Creditors other taxation and social s8curity Pension costs Other creditors Accruals 19,217 6.351 2,355 19,959 19,842 15,089 6,689 2,156 25.910 27,749 67,724 77,593 16. Financlal In8trumonts 2024 2023 Flnanclal assets Financial assets measured at fair value through incomo and oxpenditure 58,523 33,245 Financlal assets measured al fair value through income and expendrture comprises cash at bank and in hand, Page 22 Griffin Stone Moscrop & Co
DOSign EtNelope ID.. 2Fg7770c79>822S0lEE83 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company Ilmlted by guaranto01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 NIARCH 2024 17. Stat8m•nt of funds Statement ol lunds- curront yoar Balance at 31 March 2024 Balance at 1 April 2023 IDGome Expenditurè Unrestrlcted funds Gener Fund 886.991 741,103 1726.9581 901,136 Restricted funds Gema¢h FurKI l Rabbis Discretionary Fund High Holy Days Appgal Batesheva Trust 18,606 8,195 16.228 3.823 8,523 113 {6531 12.330} {380} 21,876 14,388 15,961 43.029 12.459 13,263) 52,225 Total of funds 930.020 753.562 1730.2211 953,361 Tho Hwjh Hoty Days Appeal relates to donations receiva for tharitsble gNing. The Glynach Fund is overseen by the Rabbis and has been set up lo be used.. la) 75 /0 to support educational and cumural projects w(thin the SYnague,. and Ibl 251h> to prowde subsidies for members and their children who cannot afford Jewish educational or cultural programmes. Batsheva Trust is a fund for the education of members, 0han8(1 children. Page 23 Griffin Stone Moscrop & Co
DocU9n Envelopg ID.. 2FAF97TO-70C7459m29o1EE? SHA'AREI TSEDEK NORTh LONDON REFORM SYNAGOGUE IA company limited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statemont of funds Ict)ntlnued Stat8m8nl of funds- prloryoar Balance al 31 March 2023 Balance at 1 April 2022 Inme Exponditure Unr8Strlcted funds General Fund 893,255 714,232 1720,4*1 886,991 Restrlcted funds Gemath Fund l Rabbi s DIretionary Fund Hiqh Hoty Days Appeal Ba18shwa TNst 14,658 8.195 16.228 3.948 4.375 18,606 8,195 16,228 {4,375) 39.081 8,323 14,375) 43,029 Total of funds 932,336 722,555 1724,8711 930,020 Page 24 Griffin Stone M05crop & Co
EnvÈl(we ID.. 2FAF977(k7oC74593-829w523DlEE83 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 311•14RCH 2024 18. Summary offunds summary ot funds- current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expgnditure General funds RestriGted funds 886,991 43.029 741,103 12,459 1726.958) 13.263) 901,136 62,225 930.020 753.562 {730,2211 953,361 summary offunds- prforygar BalBnc8 at 31 March 2023 Balqnca al 1 April 2022 Incom& Expenditure General funds ReStrted funds 893.255 39,081 714.232 8.323 1720,4%) {4,3751 886,991 43,029 932,3 722,555 1724.8711 930,020 19. Analysls of net assets bgtWOon fvnds Anaty5is of n8t assets between funds- CUfT¥nt perfod Unrestrlcted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Curr8nl assel Creditors du8 wrfchin one year 930,677 38.183 167,724) 930,67T 90,408 {67.724) 52,225 Total 901.136 52,225 953,361 Page 25 &iffin Stone Moscw &Co
Doe1 Envelope10'. 2FAF9T7[7OG74Sg342S26D1EE63 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Reconclllatlon of ngt movomgnt In funds to net Cash flow from 0rang actlvltles 2024 2023 Ng1 incomelexpenditure for the period las per Statement of FinancHI Activiu'esl 23,341 12,316} Adjustments for. Depreciation charges Dividends. interests arKI ronls from investments De¢r&ase in debtors Decrea in creditord 10.442 14451 3,782 {9,8691 10,269 12601 23,264 {48.577} Net cash provided byllu$ed inl operating activltles 27.261 117,620) 21. Analysls of cash and cash equivalents 2024 2023 Cash in hand 58,523 33,245 Total cash and cash oqulvalents 58,523 33,245 Analysls of chang05 In not debt At 1 April 2023 Cash Ilows At 31 March 2024 Cash al bank 8nd in hand Dèbt due wf(hin 1 year 33,245 (2.1561 25,278 11991 58.623 {2,355) 31.089 25.079 66.168 Pag826 iffin Stone MOscP & Co
DOcU9n Envelope ID.. 2FNF977170C7459>&29s26D1EEfj3 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limiied by guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Pension ¢ommitments The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of Ihe charity in an independenuy administered fund. The pension cost charge represents contributions payable by the charity lo the fund and amounted Ic) £20,017 12023 - £18.9931, Contributions totdling £2,35512023 - £2,156) were payable to the fund al the balan sheet date and are included in creditors. 24. Oporatlng leaso commltments Al 31 March 2024 the Company had commitm&nls lo make ftjtyre minimum leasfr payThenls under nor cancellable operating leases as folkA¥8.' 2024 2023 Not lalgr than 1 year Later than 1 year and not laterthan 5 years 3,108 11.319 2.311 14,427 2,311 25. R•latod party transactlons Total donation5 received in the year from trustees totalled £4,790 12023 £9151 and membership donations £11,50512023- £7,4361. Page 27 Grfffin Stone t%kn5crt)p & Co