Registered number: 10514105 Charity number.. 1171418 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 2025 Gsfd&co Griffiin Stone N05tr0p & Co 100 YEARS
Docusign Envelope ID.. B545898A-E17E-4B67-9330-201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantae) CONTENTS Page Reference and administrative detalls of the Company, Its Truste8s and advlsors Trustees, report Independent examinorf5 report statem8nt of financial activitie5 10 Balanc8 sheet 11 Statement of Cash flows 12 Notes to the flnancial statements 13-29 Griffin Stone Moscrop & Co CHTLICoI[S®BTEOALEtT(Ms
Docusign Envelope ID,. Bs458g8A-E17E4B673320l E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company limited by guarant88) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2026 Trustees L Gold J Khedoory A Fred8ricks F Holmes A Kelmanson (resigned 1 September 2025) P Sandler D Shoffren A Laur8nce B Carne (resigned 1 September 2025) A Mitchell N Franks (resign8d 18 June 20251 Page 1 Griffin Stone Moscrop & Co CHAHIwIED*Cfj)UN&REQMEDufITas
Docusign Envelope ID: B545898A-E17E-4B87-9330-201 E4B855764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmlted by guarantee) Company reglstered number 10514105 Charity registered number 1171418 Registered offlce 120 Oakleigh Road North Whetstone Londcn N20 9EZ Accountants Griffin Stone Moscrop & Co Ch8rtered Accountants 21-27 Lamb's Conduit Str88t London WC1N 3GS Bank8r8 Barclays Bank plc 1250 High Road London N20 OPB P8ge 2 Griffin Stone Moscrop & Co tHPAf*EDAcCOUNTANfs®lEEDNUtMT(y{S
Docusign Envtsloptt ID.. BM5898A.E17E4B87-9331F201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limlted by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report tog8ther with the financial stalerrents of the Company for the y6ar ended 31 March 2025. The Annual report serves the purposes of both a Trus18es' report and a directors, report under company law. The Trustees confirm that th& Annual report and financial statements of thé ¢harilable company comply with the current statutory requirements, Ihe requirements of the charitable company's goveming clocument and the provisions of the Slatement of Recommended Practice (SORPI applicable to charities preparing their accounts in accordance with the Financial R8POrting Standard applicable in th8 UK and R8public of Ireland (FRS1021 (effe¢fiva 1 January 2019}. Since the Company qualifies as small under section 382 of th8 Companies Act 2006, the Stratégic report required of medium and large companies und8r the Companies Act 2006 (Strat8gic Report and Directors, Report) Regulations 2013 has b&8n omitted. Objectives and actlvlties a. Policies and objectives The objects of th8 charity ar8 as follows.. The advancement of the Jewish religion through the provision of religious services in such form as shall from time to time be determined by the trustees, the provision and maintenance of a place of worship and the arrangements of marriages, burials and cremations for members. The advancem8nt of education in particular through the provision of classes in Hebrew and religion., Such other charitable objects as the trustees may consider from time tc time advisable. The aims of the charity are to put in place and monitor the various policies and activities outlined in the Strategic and Operational Plan, In setting objectives and planning ft>r activities, the Trustees have given due consideration to g8n8ral guid8nc8 published by the Charity Commission relaling to public benefit, including the guidanc8 'Public b8nefil.' running a charity (PB2}'. b. Activities undertaken to achleve objectives W8 continued to provide the charities main activiti8s of religion serwces, worship and education. The core activity of th8 charity is the provision of religious services by our rabbinic team, supported by our lay members. We used both online and in person innovation to invest in Jewish education through our religion school, the B'nei Mitzvah classes and infomial adull education classes. Alonim continued to provide outstanding support and education for a reducing number of pre-school children. In addition to the Trustees, Report and Annual Report and Financial Accounts, a separate booklet is available to members detsiling the specific activities ofthe sub-committees and functions of the charity. Volunteers from the membership p18y a crucial role. Without their Support and goodwill, the charity would not be able to carry on ils activilies. Page 3 Griffln Stone Moscrop& Co CHRT.££olTr*PEr4SroIE.DAuElT(jl5
Docuslgn Envelope ID.. B5458984-E17E.4B67-9330401E4B665784 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Ilmlted by guarant88) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and parformance a. Review of actlvltles For the third year we came together as one community at JCOSS for the High Holydays holding a range of seNices for all ages, that were well attended. We held a range of events and Services jointly with other synagogues for many of the feslivals throughout the year. The Choir and Koleinu band have been active and our new generation of wardens conlinue to gain experience. We continue to run 8 number of adult aducation courses. including Introduction lo Leyning, Modern Hebrew and Gateway to Judaism. Social clubs continue to thrive, such as Community Hub, Lunch & Chat, Bridge, Book Club, Hudd18 for Israel & Cuppa and Chat. Membership enquiries continue regularly with another 31 adult and 19 child members joining in the year. Sha'ar6i Tsedek is well plad in the area lo attracl potential families as il is the on5y synagogue with three good Jewish primary schools close by. We celebra18d 12 B'nei Mitvot in the year and have 27 enro15ed in the 2 year course. R81igion school regularly has 15 students. During the year we held a numb6r of community and educational eventsrtrips. Including a visii ID Docklands Museum, Hugh8nden Manor and Kenwood. Fund raising was helped with a Shir Sing-a-long for Israel and a Night at th8 Opera. Our Community Seder was onc8 again well 8ttended as well as the Evening with Jonathan Omst8in of the JCC in Krakov which was a prelude to the trip to Krakov & Auschwitz in Octob8r 2025. Alonim has faced significant challenges this year due to changing demand for pre-school provision and rising operational costs. Despite the dedicated efforts of Head Teacher Patsy Maltz and her exceptional team, declining enrolment has made it unavoidabl@ to cease operations at the end of the 2024-2025 financial year. This decision in no way reflects on the Outstanding work and commitment of the staff, who have continued lo provide an excell8nt standard of care and education throughoul. Flnancial revlew a. Overview Th& charity made a SU[US of £4,474 for the year (2024.. a surplus of £14,145)- The sury)Ius excludes a net surplus for restricted purpos88 of £8,073 (2024.. net surplus of £9,196). The unrestricted surplus arose from income of £768,768 (2024.. £741,103) less expenditure of £764,294 (2024.. £726,958). At 31 March 2025 the unrestricted funds of the charity were £905,61012024.. £901,136) which is more than accounted for by the amount represented by land and buildings and fixlures and fittings. Incomin resources The IJNO main compon8nts of unrestricted income were membership subscriptions of £296,985 (2024: £284,527) including related gift aid and Alonim income of £171,034 (2024: £195,461). Membership subscriptions were 4.40/0 higher than last year and Alonim income was 12.5 % lower. Resources 8X ended Total unrestricted expenditure of the charity was 5.1 0/0 higher Ihan the previous year. Page 4 Grlffln Stone Moscrop &Co CMTEREDAccouFifANTS&E95TtREDAUDIT0I5
Docu81gn Envelope ID.. 8545898A-E17E-4B87-9330-201E4B655784 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guarante8 TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 b. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has ad8quat8 resourcgs to continue in operational existence for the foreseeable futuré. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. c. Resarves policy The reserves are set out in the balanc8 sheet and accompanying notes. The charitVs principal asset is it8 building which has no loans outstanding on it, The present level of funding is genarally sufficient to support Ihe activities of the charity which depends on the18vel of membership f88s and income from Alonim. The trustees have also secured bank facilit18S to secure th8 charity to ensure that reserves are maintained at levels to try and maintain positive cash flow and to meet any contingencies requiring immediate exp8nditure. The financial 8tat8ments for the period are set out in the attached docum8nts. Building r8senies to s8cur6 the long term future of the charity is a major chall8ng8 which the trustees acknowledge and appropriate measures will continue to b8 taken lo achieve this. The investment in education is getting more expensive every year and this year th8 charity's position will be impacled additionally by tax rises on employment. The trustees have identrfied the need to increase income from other sources including fund raising and legacy marketing to build much needed reserves. At 31 March 2025 the charity's unrestricted reseNes were £905,610 (2024,. £901,136}. The restricted Snd unrestricted funds are shown in note 17. d. Princlpal risks and uncertainties At trustees, meetings risks faced by the charity are reviewed relative to their significance. The primary risks are onsidered to b8.. Security of people attending the premisés, Security is ragularty reviewed in conjunction with the @xternal advisers and appropriale action taken based on an assessment of perceived risk. Trustees are mindful that the ageing demographic profile of the membership is impacting membership income generation. Regular attention lo cash flow, Page 5 Griffin Stone Moscrop & Co CHARTFAEPRICOUA&5TAuD[FOp5
Do¢uslgn Envelope ID.. B545898A-E17E4B67-9830-201E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, govornance and management Constltutlon Sha'arei Tsedek North London Reform Synagogue is registered as a charitable company limited by guarant8e and was set up by a Memorandum of Association on 6 December 2016. The company is constituted under 8 Memoranéum of Association dated e December 2016 and is a registered charity number 1171418. The charity is a company limited by guarantee and was registered with the Charity Commission on 1 February 2017. The members of the company are th8 members of the Synagogue as defined in the Articles of Association. The liability of each member is limited to a sum not exG88ding £1, being the amount each member undertakes to contribute to the assets of the charity in the event of its dissolution whilst they are m8mber5 or within one year of them ceasing lo be a member. b. Methods of appointment or election of Truste88 The management of the Company is the responsibility of the Trust8es who ar8 8lected and co-opted under the temis of the Memorandum of Association. Plans for future periods We plan to raise funds to repair the fabric of the Synagogue building and to develop further our high quality Religion School and B'nei Mitzvah programmes, Statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of Gompany law) are sponsible for preparing the Trustees, report and th8 financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law r8quires the Trustees to prepare financial ststements for each financial . Under company law, the Trustees must not approve the financial statem&nts unless they are satisfied that they give a true and fair vi8w of Ih@ state of affairs of the Company and of its incoming resources and application of resource8, including its income and expenditure, for that P8riod. In preparing these financial statements, the Trustees are required to.. seled suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102),. make judgements and 8ccounting estimates Ihat are reasonabl8 and prudent., stale whether applicable UK Accounting Stsndards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on th8 going concern basis unless it is inappropriate to presume that the Company will continue in business, The Trustees are responsible for keeping adequate accounting records that are suffici8nt to show and explain the Company's transactions and disclose with reasonable accuracy at any time Ihe financial position of th8 Company and enable them to ensure that thg financial statements comply with the Compani8s Act 2006. Th8y are also responsible for safeguarding the ass8ts of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 6 Griffin Stone Moscrop & Co CH4RTEREDACtCHJNfANTsINf.GISIE.PEDrFo%
Docuslgn Env6lop8 ID.. B545898A-E17E4B87-933(k201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limit8d by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Approved by order of the memb8rs of the board of Trustees and signed on their behalf by.. Trustee Dale., 19 November 2025 Page 7 Grlffin Stone Moscrop & Co CHRTEDcuNTNREG15Td*AuLlT
Docuslgn Envelope ID.. B545898A-E17E4B67-9330-201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independ8nt examlner's report to the Trustaas of Sha'ar8i Tsedek North London Roform Synagogue ('the Company,) I r8POrt to the charity Trustees on my examination of th8 accounts of the Company for the year ended 31 March 2025. Responsibilities and basls of report As the Trustees of the Company (and its direclors for the purposes of company lawl you are responsib16 for the preparation of the acxounts in accordanc6 with the requirements of the Companies Act 2006 ('Ih8 2008 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of th8 2006 Act and are eligible for independ8nt examination, I report in respect of my examination of the Company's accounts carried out under 8ection 145 ofthe Charities Act 2011 <'the 2011 Act,). In carrwng out my examination I have follow8d the Directions given by the Charity Commission under section 145(5)(b) ofthe 2011 Act. Page 8 Griffin Stone Moscrop & Co cHATEDCOlTqnSREGTBDUThTCFS
Do¢uslgn Envelope ID.. B545898El7E-4867-9sSO-2O1E4B6S5764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Independenl oxamlnerfs statement Since the Companls gross income 8xceeded £250,000 your examiner must b8 a member of a body listed in section 145 of Ihe 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ICAEW, which is one of the listed bodias. I have completed my 8xamination. I confirm Ihat no matters have com6 to my attention in connection with the examination giving me cause to believe.. accounting records were not kept In respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those r8cords', or the accounts do not comply with the accounting requir8m6nts of section 396 of the 2006 Act othar Ihan any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an indep&nd8nt examination- or the accounts have not been pr8pared in accordance with the methods and principles cf the Slatement of Recornmend8d Practice for accounting and reporting by charities [applicable to charities preparing thair accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 102)]. I have nD conG8rns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enab18 a proper understsnding of th8 accounts to be reached. This report is made solely lo the Compantys Truslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Companls Trustees those matters l am required to stale to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Com ny's Trustees as a body, for my work or for this report. Signed., Robert Smifh Dated: 20 November 2025 FCA Griffin Ston6 Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit street London WC1N 3GS Page g Griffin Stone Moscrop & Co cFl&RTEREDK(CWTNTh®TEDAlll
Docusign Enlope ID- B545898A-E17E-4B67-9330-201 E4B656764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDEO 31 MARCH 2025 Unrestrlcted funds 2025 RestrlGted funds 2025 Total funds 2025 Total funds 2024 Note Incom8 from: Donations and legacies Charitable activities other trading activities Investments Other income 554,262 207,921 225 709 5,651 57,865 612,117 207,921 225 709 5,661 515,750 226,316 8,248 445 4,803 Total Income 768,768 57,855 826,623 753,562 Expenditure on: Raising funds Charitable activlcies 9,945 754,349 13,697 716,524 49,782 804,131 Total 8xpenditur8 764,294 49,782 814,076 730,221 Net movement in funds 4,474 8,073 12,547 23,341 Reconclllation of funds: Total funds brought forward 901,136 52,225 953,361 930,020 Total funds carrled forward 905,610 60,298 965,908 953,361 The Statement of financial activities include6 all gains and losses recogni3ed in Ihe year. The notes on pages 13 to 29 fomi part of thes6 financial stal&ments. Page 10 Griffin Stor)e Moscrop & Co CHARTBIEDLNTkNt5&RETETrEDAUEmYcx5
Docuglgn Envelope ID.. B545898A-E17E-4B67-9330-201E4BS56764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company limited by guarantee REGISTERED NUMBER: 10514105 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets 13 925,790 930,677 925,790 930,677 Current assets Debtors Cash at bank and in hand 14 73,071 65,503 31,885 58,523 138,574 90,408 Current Ilablllties Creditors.. falling dua withln one year 15 (98,456} (67,724) Net currant assets 40,118 22,684 Total assets less current liabilities 965,908 953,381 Total net assets 965,908 953,361 Charfty funds Restricted funds Unrestricted funds 17 17 60,298 905.610 52,225 901,136 Total funds 965,908 953,361 The Company was 8ntitled to exemption from audit under section 477 of the Companies Acl 2006. The members have not r8quired tha company to obtain an audit for the year in question in accordance with section 476 Df Companies Act 2006. The Trustees acknowledge their responsibilities for complying with thè requirem8nts Df the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and 8uthorised for Issue by the Trustees and sign8d on their behalf by: Truste8 Date.. 19 November 2025 The notes on page8 13 to 29 form part of these financial statem8nls. Page11 Griffln Stone Moscrop & Co CHARTEPEDACCWN'fANTS4REGISIERFOAUD
Docusign Envelope ID.. BS45898A-E17E4B87-9332O1E4B6Sfj764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Cash flows from oparatlng activities Net cash used in operating activities 6,271 27,251 Cash flows from investing actlvities Dividends, interests and r8nt8 from inv8Stments Purchase of tangible fixed assets 709 445 (2,418) Net cash provlded byl(used in) investing activltles 709 (1,973) Cash flows from financlng activities Net cash provlded by financing activllles Change in cash and cash equlvalents in tha year Cash and cash equivalents at the beginning of the year 6,980 58,523 25,278 33,245 Cash and ca3h equivalents at the end of th8 year 65,503 58,523 The notes on pages 13 to 29 form part of these financial statements Page 12 Griffin stone Moscrop & Co CHPRTBIED1CCOUNtANTS&RE¢.IDl[xTh5
Docuslgn Envelope ID., B545898A-E17E4B67.9330-201E4B855764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Gen8ral information Sha'ar&i Tsedek North London Reform Synagogue is a company limited by guarantee and was incorporated in England, and is registered as a charity with the Charity Commission of England and Wales. The registéred offic8 is displayed on the reference and administrative details of the charity page togethar with the registered number and charity number. Accountlng polici88 2.1 Basls of preparation of financlal statements The financial stalem8nf8 have been prepared in 8ccordan¢è with the Charlties SORP IFRS 102) Accounting and Reporting by Charities: Ststem8nt of R8commended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019), th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Acl 2006. Sha'arei Tsedek North London Reform Synagogue meets th8 definilion of a public benefit entity under FRS 102. A5S8ts and liabilities are initially r8cognised at historical cost or transaclion value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Company has entitlement to the income, it is probable that th8 income will b8 receivad and the amount of income rec8ivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basi5. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet, Where incom8 is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before inccme is rec8ived, th8 income is accrued. Incom6 lax recoverable in relation to investment income is récognis8d at the time the investment Income is receivable. other income is recognised in the period in which it is receivable and to th8 extent the goods have been provided or on completion of the servi. 2.3 Expenditu Expenditure is recognised once there is a legal or constructive obligation tc transfer economic benefit to a third party, it is probable that a transfer of 8conomic benefits wi51 be required in seltlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The Costs of each activity are mad8 up of Ihe total of direct Gosts and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consist8nt with the use of resources. Central staff costs are allocated on the basis of time spent, and d8precialion charges allocated on the portion of th8 asset's use. Expenditur8 on raising funds includes all expenditurè incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Page13 Griff in Stone M05crop &Co Q4ARTEREDICcOUWsEr15[ERAUD[FO
Docuslgn Envelope ID.. B545898A-E17E-4B87-9330~201E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued 2.3 Exp•nditure {contlnued) Expenditure on charitable activities 18 incurred on directly und8rtaking the activities which further the Companys objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT, 2.4 Tangible fix8d ass8ts and depreciatlon Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits ar& probab16 and the cost or value of Ihe asset can be measured reliably. Tangible fixed assets are initially r8cogni8ed at CO8t. After recognition, under the cost model, tangible fixed assets are measur8d at cost less accumulated depreciation 8nd any accumulaled impairm8nt losse5. All costs incurred ID bring a tangible fixed asset inlo its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangib18 fixed a88etB l&ss thèir residual value over thelr estimated useful lives, Depreciation is provided on the following bases.. Fr8ehold propety Fixiures and fittings 10 years on a straight line basis 5 to 10 years on a straight line basis 2.5 Debtors Trade and other debtors are reccgnised at the s8tt1@m8nl amount after any trade discount offered. Prepayments ar8 valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Llabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past ev@nt, it is probable that a transfer of economic benefit will be required in settlement, and th6 amount of tha settlement Can be estimated reliably. Liabilities ara r8cognised at tha amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments ft)r Ihe goods or servi¢as it musl provide. Provisions are measured at the best estimat& of the amounts required to sett5e the obligation. Where the effect ofthe time value of money is material, the provision is based on the pr8sent value of those amounts, discounted at the pre-tax dlscount rate that reflects the risks specrfic lo the liability. The unwinding of the discount is recognis8d in the Statement of financial activities as a finance cosl, Page 14 Griffin Stone Moscrop & Co CHATERFDocN[AlfjI5TEREAUDTtO
Docusign Envelop@ ID.. BS45898A.E17E~4B67.9330-201E4Bfj55764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (contlnuedl 2.8 Financial Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amor11s8d cost using the effective interest method. 2.9 Penslons Th6 Company operates a defined Contribution pension scheme and the pension charge represents the amounts payable by the Company tc the fund in respect of the year. 2.10 Fund accounting General funds ar8 unrestricted funds which are 8vailable for use at the discretion of the Trustees in furtherance of Ihe general objectives of the Company and which have not been design8ted for other purposes, RestriGl8d funds are funds which are to be used in accordance with specific restrictions imposed by dcnors or which have been raised by th8 Company for particular purposes. The costs of raising and administering such funds are charg8d against the specific nd. The aim and us8 Df each restricted fund is set out in the notes to the financial statements. Investment income, gains and1085es are allocated to the appropriate fund. Page15 Grlffin Stone Moscrop & Co (TrL4KERED#LcthMNf4TSIPEGlSfkRED#tsDITORS
Do¢usign Envelope ID., B545898A-El7E-4B67.933(2ol E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company Ilmltsd by guarantè&} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Incorne from donations and legaci8S Unrestricted Restricted funds funds 2028 2025 Total funds 2025 Donations Grants 440,216 114,046 57,855 498.071 114,046 Total 2026 554,262 57,855 612,117 Unrestricted funds 2024 Reslricted fund5 2024 Total funds 2024 Donations Grants 415,041 88,363 12,348 427,387 88,363 Total 2024 503,404 12,34 515,750 Income from charltable activities Unrestricted funds 2025 Total funds 2025 Alonim Kindergarten Religious Education & Youth Community events Religious Servi$ & Activities 171,034 13.114 3,750 20,023 171,034 13,114 3,760 20,023 Total 2025 207,921 207,921 Page 16 Grlffln Stone Moscrop & Co Cw1.DlcOwlREG1ErÉDAT(Ths
Docusign Envelope ID.. 8545898A-E17E-4Be7-9330-201E4B65fj7e4 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable actlvities (continu8d) Unrestricted funds 2024 Total funds 2024 Alonim Kindergarten Religious Education & Youth ReligiDus Services & Activities 195,461 14,089 16,766 195,461 14,08S 16,766 Total 2024 226,316 228,316 Income from other tradlng activltles Income from fundraising events Unrestricted funds 2025 Total funds 2025 Activities genèrating funds 225 225 Total 2025 225 225 Unréstricted funds 2024 Total fund5 2024 Activities generating funds 6,248 6,248 Total 2024 8,248 6,248 Page 17 Griffin Stor)e M05crop &Co ¢EDP£cTAIIREQSRW1UDIro
Docuslgn Envelope ID.. 4s898A-EI7F-4B87-9330-2ol E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestrlcted funds 2025 Total funds 2025 Int8r8St receivable 709 709 Total 2025 709 709 Unrastricted funds 2024 Restricted funds 2024 Total funds 2024 Interest receivable 332 113 445 Total 2024 332 113 445 other incoming resources Unrestrlcted funds 2025 Total funds 2025 Olher income 5,851 6.651 Total 2025 5,651 5,651 Unrestricted funds 2024 Total funds 2024 other income 4,803 4,803 Total 2024 4,803 4,803 Psge 18 Grlffln Stone Moscrop & Co 014RIEKfDk£couNfArffi&pESTEREDAUDTr0
Docusign Envelope ID.. B545898A-E17E-4B87-9330-201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expendlture on charltable activiti68 Summary by fund type Unrestrlclad Restricted funds fund5 2025 2025 Total 2025 Alonim Kindergarten Religious Education & Youth Religious SeNic8s & Activiti8S Affiliated parti8S 175,459 4,225 504,229 70.438 175A59 4,225 554,011 70,436 49,782 Total 2025 754,349 49,782 804,131 Unr8Stricted funds 2024 Restricted funds 2024 Total 2024 Alonim Kindergarten Religious Education & Youth Religious S8Nices & Activities Affiliated parties 160,382 3,275 506,978 42,626 380 1eo,762 3,275 509,308 43,179 2,330 553 Total 2024 713,2e1 3,263 716,524 Analysls of expendlture by activltles Actlvltles undertaken dlrectly 2025 Support costs 2025 Total funds 2025 Alonim Kindergart6n Religious Education & Youth Religious Services & Activities Affiliated parties 82,301 4,225 356,210 70,436 93,158 175,459 4.225 554,011 70,436 197,801 Total 2025 513,172 290,959 804,131 Page19 Griffin Stone Moscrop & Co cHA<[lED1£uNT&RmREDauDRS
Docuslgn Env6lopè ID.. B545898A.E17E-4B87-9330.201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Simlted by guarantge) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Analysis of expenditura by actlviti88 {continued} Activities undertaken dir8CtIy 2024 Support ccsts 2024 Total funds 2024 Alonim Kindergarten Religious Education & Youth Religious serCes & Activities 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 Analysis of support costs Alonim Religlous Klndergarte Serv5ces & Activities 2025 Affiliated partles 2025 Total funds 2025 2025 staff costs Depreciation Administrative & property costs Events costs Governance costs 13,028 1,955 74,175 56,760 2,932 135,521 2,588 69,788 4,887 209,696 2,588 4,000 4,000 Total 2025 93,158 197,801 290,959 Page 20 Griffin Stone Moscrop & Co CHARIlE0OlrnTr&RTEPEDAlI1TQ5
Dowslgn Envetope ID.. B545898A-E17E-4867-933O-201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expèndlture by activitle8 Icontlnued) Analysis of support costs Icontlnued Religious Senrices & Activities 2024 Alonim Kindergart8n 2024 Affiliated parties 2024 Total funds 2024 staff costs Depreciation Administrative & property costs Event costs Gov8rnanc8 Costs 13,313 4,177 46,601 70,919 6,265 88,336 1,883 84,232 10,442 135,490 1,883 4,820 553 4,820 68,911 167,383 553 236,847 10. Independ8nt examiner's remuneratlon The independent examinerfs r8muneration amounts to an independent examiner fee of £4,000 {2024 - £4,820). 11. Staff costs 2025 2024 Wages and salaries Social security costs Contribution to definéd contribLrtiDn pension Schemes 387,493 23,565 19,981 389,484 23,143 20,017 431,039 432,644 Th8 average number of persons employed by the Company during the year was as follows.. 2025 2024 No. employees 31 33 Page 21 Griffin Stone Moscrop & Co cHEREDLCou&AEfjEDD
Docusign Envelope It),, B545898A-E17E4B67-9330-201E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limiled by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Staff costs lcontinuedl The number of employ888 whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2026 2024 In th8 band £80,001- £90,000 In the band £90,001- £100,000 The key management personnel of the charity consist of the board of trustees, the Synagogue Manager and the Head T8aGher, Alonim Pr8-School Nursery. Total employee benefits paid to key management personnel during the year was £90,760 (2024 - £91,748). 12. Trust8es' remuneration and expenses During the year, no Trusl@8s received any r8muneration or other benefits (2024 - £NIL). During the year ended 31 March 2025, no Trus188 expenses hav8 been incurred12024- £NIL}. Page 22 Grlffin Stone Moscrop & Co CHIRTOIcTTsIREG1sTAw
Doeuslgn Envelope ID.. B545898kE17E-48fj7.9330-201E4B855784 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Ilmlted by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Tanglble fixed assets Freehold Flxtures and property f ittings Total Cost or valuatlon At 1 April 2024 1,027,750 141,816 1,169,565 At 31 March 2025 1,027,750 141,815 1,169,585 D8preciatlon At 1 April 2024 Charge for the year 106,093 1,195 133,795 3,692 238,888 4,887 At 31 March 2025 106,288 137,487 243,775 Net book value At 31 March 2025 921,462 4,328 925,790 At 31 March 2024 922,657 8,020 930,677 14. Debtors 2025 2Q24 Due within one year Trade debtors other debtors Prepayments and accrued income 15,994 27,689 29,488 16,029 11,365 4,491 73.071 31,885 Page 23 Griffln Stone Moscrop & Co CHAKtÈThiè£couwfffi&REQ5TEREgALDTro
Doeu81gn Envelope ID.. 8545898A-E17E4B67-9330-201E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company limit6d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Cradllors: Amounts falllng due within one year 2025 2024 Trade creditors other taxation and social security Pension costs Other creditors Accruals 51,700 7,283 2,438 28,473 10,562 19,217 6,351 2,355 19,959 19,842 98,456 67,724 18. Financlal Instruments 2026 2024 Financial assets Financial assets rneasured at fair value through income and expendilur8 65,503 58,523 Financial assets measured at fair value Ihrough income and expenditure comprises cash at bank and in hand. P8ge 24 Griffin Stone Moscrop & Co CFlAR[J£CoUNfANrs®B7EP£.OALlITo
Docu81gn Envelope ID.. 8545898A-E17E4B67-9330-201E4B665764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 In¢oma Expendituro Unrestrlcted funds General Fund 901,136 788.788 (764,294) 905,610 R88tricted funds Gemach Fund l Rabbi's Discretionary Fund High Holy Days Appeal Batesh8va Trust Roof Repairs 21,876 14,388 15,961 3,912 6,891 25,788 18,549 15,961 (2,730 47,052 (47,052) 52.225 57,855 {49,7821 60,298 Total of funds 953,361 826,623 (814,076) 965,908 The High Holy Days Appeal rel8tes to donations received for charitsble giving, The Gemach Fund is overseen by the Rabbis and has been set up to be used.. (a) 75 /0 to support educational and cultur81 project5 Wlthin the synagogua., and (b) 25 % to provide subsidies for members and their children who cannot afford Jewish educational or cultural prDgrammes. Batsheva Trust is a fund for the education of members, orphaned children. Roof r8P8irs money was received in the year specrfiGally towards the cost of significant repairs and improvements to three roofing are85. Page 25 Griffln Stone M05crop &Co (HIE¥CCfr4TA&RESTEREDAuDo
OocuswJn Envelope ID.. B545898A-E17E4B67-9330-201E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantè8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Statement of funds {Gontlnuedl ststement of funds- prlor year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds General Fund 886,991 741,103 (726,958) 901,136 Rastricted funds Gemach Fund l Rabbi's Discretionary Fund High Holy Days App881 Batesh8va Trust 18,606 8,195 16,228 3.823 8,523 113 (553) (2,330) (380) 21,876 14.388 15,961 43,029 12,459 {3,2631 52,225 Total of funds 930.020 753,562 (730,221) 953,361 Page 26 Griffin Stone Moscrop & Co CHARTEPEDACC(WW4TSlTw.TrAE4T
Docu81gn Envelope ID- B545898&E17E-4B67-g330-201 E4B655764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE IA company Ilmlted by guarant8& NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Summary of funds Summary of funds - current yèar Balance at 31 March 2025 Balance at 1 April 2024 Income Expendlture General funds Restricted funds 901,136 52,225 768,768 57,855 (764,294) (49,782) 905,610 80,298 953,361 828,623 1814,076 965,908 Summary of funds - prlor year Balance at 31 March 2024 Balance at 1 April 2023 Inc¢me Expenditur8 General funds Restricted funds 886,991 43,029 741,103 12,459 (726,958) {3,263) 901,136 52,225 930,020 753,562 (730,221) 953,361 19. Analysis of net assets between funds Analysis of net assets betrween funds - curr8nl year Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year g25,790 78,276 (98,456) 925,790 138,574 198,456) 60,298 Total 905,e10 60,298 965,908 Paga 27 Griffin Stone M05crop & Co (H4KfBwp£cwNTANn&FEUStepFDIUDnD
Docuslgn Envelope ID.. B545898El7E-4B67-9330-2Ol E4B655784 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Reconciliation of net mov¢ment in funds to net cash flow from op8rating activltles 2026 2024 Net income for the year (as per Statement of Financial A¢tivitl8s) 12,547 23,341 Adjustments for: Depreciation charges Dividends, interests and rents from Inveslments Incr8ase in debtors Increase in creditcrs 4,887 (709) 141,187) 30,733 10.442 {445) 3,782 {9,869) Net cash provid8d by operatlng actfvitles 6,271 27,251 21. Analysis of cash and cash 8quival8nts 2025 2024 Cash in hand 65,503 58,523 Total cash and cash equivalents 65,603 58,523 22. Analysis of chang8s In net debt At 1 Aprll 2024 Cash flows At 31 March 2025 Cash at bank and in hand Debt due within 1 yéar 58.523 12,3551 6,980 183) 65,503 (2,4381 56,188 6,897 63,065 Page 28 Grlffln Stone Moscrop & Co cHTERED1(c¢NT#NTS®1S7EEDAucToRS
Docusign Envalopo ID,. B545898A.EI 7E.4B67-9331>2Q1 E4Be55764 SHA'AREI TSEDEK NORTH LONDON REFORM SYNAGOGUE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Penslon commltments The charity operates a defined contributions pengion schem8. The assets of the scheme are h&ld separately from those of the charity in an independently administered fund. The p6nsion cost charge represenls contributions payable by the charity to the fund and amounted to £19,981 (2024 £20,017). Contributions totalling £2,438 (2Q24 - £2,355) w8r8 payable to th8 fund at the balance sheet date and aré included in creditcrs. Operatlng lease commltments At 31 March 2025 the Company had commitments to mak6 future minimum lease payments under non- cancellable operating leases as follows: 2026 2024 Not later than 1 year Later than 1 year and not later Ihan 5 years 3,018 8,300 3,018 11,318 11,318 14,336 25. R8lat8d party transactions Total donations received in the year from trustees totalled £50,612 (2024 £4,970) and membership donation8 £11,49612024- £11,505). Page 29 Grlffln Stone Moscrop & Co CH4Kr*DKcciIit4NTS&Fl$tEPBjXrS