**Registered number: 10416677 Charity number: 1171625**
## **LUBAVITCH SYNAGOGUE**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Trustees' responsibilities statement**|4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7 - 8|
|**Notes to the financial statements**|9 - 15|
**LUBAVITCH SYNAGOGUE**
**(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Trustees**|Sholem Ber Sudak, Trustee|
|---|---|
||Yeruchem Raskin, Trustee|
||Daniel Wolffe, Trustee|
|**Company registered**
**number**
10416677
**Charity registered**
**number**
1171625
**Registered office**
34 Braydon Road
London
UK
N16 6QB
**Independent Examiner**
BG Mordfield FMAAT
11 Hurstdene Gardens
London
N15 6NA||
Page 1
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees present their annual report together with the financial statements of the company for the 1 January 2023 to 31 December 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **Policies and objectives**
The Lubavitch Synagogue provides facilities for prayer, religious study and communal activities at its premises in Stamford Hill, North London. It seeks to continue to foster the religious, educational and social development of its members whilst also extending its educational facilities to the wider community.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Financial review**
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £4,963 (2022 - £5,342) of which £3,318 (2022 - £4,253) are restricted.
## **Principal funding**
Income from donations, membership fees, grants and gift-aid aggregated £78,948 Expenditure in furtherance of charitable activities, which was in accordance with the guidance of the Charity Commission relating to Public Benefit, aggregated £78,252. Total resources expended were £79,327 resulting in net deficit of £379.
## **Structure, governance and management**
## **Constitution**
Lubavitch Synagogue is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Page 2
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Structure, governance and management (continued)**
## **Methods of appointment or election of Trustees**
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Approved by order of the members of the board of Trustees on 15 September 2024 and signed on their behalf by:
................................................
**Daniel Wolffe** Trustee
Page 3
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees (who are also the directors of the company for the purposes of company law) 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).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the 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 sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 15 September 2024 and signed on its behalf by:
................................................
**Daniel Wolffe** Trustee
Page 4
**LUBAVITCH SYNAGOGUE**
**(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Independent examiner's report to the Trustees of Lubavitch Synagogue ('the company')**
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 accounts to be reached.
Signed:
Dated: 15 September 2024
BG Mordfield FMAAT
11 Hurstdene Gardens
London N15 6NA
Page 5
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
3
**Total income**
**Expenditure on:**
Charitable activities
4
Other expenditure
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**62,882**
**62,882**
**61,251**
**1,075**
**62,326**
**556**
**1,090**
**556**
**1,646**|**Restricted**
**funds**
**2023**
**£**
**16,066**
**16,066**
**17,001**
**-**
**17,001**
**(935)**
**4,253**
**(935)**
**3,318**|**Total**
**funds**
**2023**
**£**
**78,948**
**78,948**
**78,252**
**1,075**
**79,327**
**(379)**
**5,343**
**(379)**
**4,964**|_Total_
_funds_
_2022_
_£_
_88,923_
_88,923_
_92,713_
_4,921_
_97,634_
_(8,711)_
_14,054_
_(8,711)_
_5,343_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
Page 6
## **LUBAVITCH SYNAGOGUE (A company limited by guarantee) REGISTERED NUMBER: 10416677**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
7
**Current assets**
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
**Total funds**|**354**
**1,461**
**1,815**
**(793)**|**2023**
**£**
**3,941**
**3,941**
**1,022**
**4,963**
**4,963**
**4,963**
**3,318**
**1,645**
**4,963**|_400_
_882_
_1,282_
_(872)_|_2022_
_£_
_4,932_|
|---|---|---|---|---|
|||||_4,932_
_410_|
|||||_5,342_|
|||||_5,342_|
||||||
|||||_5,342_|
|||||_4,253_
_1,089_|
||||||
|||||_5,342_|
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of 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 authorised for issue by the Trustees on 15 September 2024 and signed on their behalf by:
Page 7
## **LUBAVITCH SYNAGOGUE**
**(A company limited by guarantee) REGISTERED NUMBER: 10416677**
# **BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023**
................................................
**Daniel Wolffe**
Trustee
The notes on pages 9 to 15 form part of these financial statements.
Page 8
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. General information**
The Lubavitch Synagogue provides facilities for prayer, religious study and communal activities at its premises in Stamford Hill, North London. It seeks to continue to foster the religious, educational and social development of its members whilst also extending its educational facilities to the wider community.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Lubavitch Synagogue meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
There is no material uncertainty about the charity's ability to continue.
## **2.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
## **2.5 Taxation**
The charity is exempt from tax on its charitable activities.
Page 9
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Fixtures and fittings
- 10% Straight Line Method
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 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.
## **2.9 Average number of employees**
There were no employees in 2023 (2022 - Nil).
## **2.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 10
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
**Donations**
Synagogue Membership
17,564
Burial Fees
-
Grants for Security
-
Gift-Aid
3,677
-
21,241
Other Donations
41,641
**Subtotal**
41,641
**Total 2023**
62,882
_Unrestricted_
_funds_
_2022_
_£_
**Donations**
Synagogue Membership
_15,205_
Burial Fees
_-_
Grants for Security
_-_
Gift-Aid
_2,798_
Other Grants
_-_
_18,003_
Other Donations
_36,219_
**Subtotal**
_36,219_
_Total 2022_
_54,222_|**Restricted**
**funds**
**2023**
**£**
-
11,845
4,221
-
-
16,066
-
-
16,066
_Restricted_
_funds_
_2022_
_£_
_-_
_15,097_
_6,104_
_-_
_13,500_
_34,701_
_-_
_-_
_34,701_|**Total**
**funds**
**2023**
**£**
**17,564**
**11,845**
**4,221**
**3,677**
**-**|
|---|---|---|
|||**37,307**|
|||**41,641**|
|||**41,641**|
||||
|||**78,948**|
|||_Total_
_funds_
_2022_
_£_
_15,205_
_15,097_
_6,104_
_2,798_
_13,500_|
|||_52,704_|
|||_36,219_|
|||_36,219_|
||||
|||_88,923_|
Page 11
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **4. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£**
General Expenses
25,170
Security
-
Wages
22,116
Torah Reading
7,390
Synagogue Upkeep
6,575
Burial Society Charges
-
61,251
_Unrestricted_
_funds_
_2022_
_£_
General Expenses
_25,748_
Security
_-_
Wages
_23,011_
Torah Reading
_8,130_
Synagogue Upkeep
_9,227_
Burial Society Charges
_-_
_66,116_|**Restricted**
**funds**
**2023**
**£**
-
4,221
-
-
-
12,780
17,001
_Restricted_
_funds_
_2022_
_£_
_6,650_
_6,947_
_-_
_-_
_-_
_13,000_
_26,597_|**Total**
**2023**
**£**
**25,170**
**4,221**
**22,116**
**7,390**
**6,575**
**12,780**|
|---|---|---|
|||**78,252**|
|||_Total_
_2022_
_£_
_32,398_
_6,947_
_23,011_
_8,130_
_9,227_
_13,000_|
|||_92,713_|
Page 12
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5. Other expenditure**
|Depreciation of Furnishings
Bank Charges
Depreciation of Furnishings
Legal and Professional Fees
Bank Charges|**Unrestricted**
**funds**
**2023**
**£**
991
84
1,075
_Unrestricted_
_funds_
_2022_
_Restricted_
_funds_
_2022_
_£_
_£_
_991_
_-_
_-_
_3,850_
_80_
_-_
_1,071_
_3,850_|**Total**
**funds**
**2023**
**£**
**991**
**84**|
|---|---|---|
|||**1,075**|
|||_Total_
_funds_
_2022_
_£_
_991_
_3,850_
_80_|
|||_4,921_|
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 December 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
## **7. Tangible fixed assets**
|
**Cost or valuation**
At 1 January 2023
At 31 December 2023|**Fixtures and**
**fittings**
**£**
**9,914**|
|---|---|
||**9,914**|
Page 13
## **LUBAVITCH SYNAGOGUE**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Tangible fixed assets (continued)**
|
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
_At 31 December 2022_|**Fixtures and**
**fittings**
**£**
**4,981**
**991**|
|---|---|
||**5,972**|
||**3,942**|
||_4,933_|
## **8. Debtors**
|**Due within one year**
Other debtors|**2023**
**£**
**354**
**354**|_2022_
_£_
_400_|
|---|---|---|
||||
|||_400_|
## **9. Creditors: Amounts falling due within one year**
|Other taxation and social security
Other creditors|**2023**
**£**
**709**
**84**
**793**|_2022_
_£_
_788_
_84_|
|---|---|---|
||||
|||_872_|
Page 14
**(A company limited by guarantee)**
## **LUBAVITCH SYNAGOGUE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
3,941
Current assets
(1,502)
Creditors due within one year
(795)
Difference
-
**Total**
1,644|**Restricted**
**funds**
**2023**
**£**
-
3,318
-
1
3,319|**Total**
**funds**
**2023**
**£**
**3,941**
**1,816**
**(795)**
**(1)**
**4,963**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2022_
_£_
_4,933_
_(2,972)_
_(872)_
_1,089_|_Restricted_
_funds_
_2022_
_£_
_-_
_4,254_
_-_
_4,254_|_Total_
_funds_
_2022_
_£_
_4,933_
_1,282_
_(872)_
_5,343_|
|---|---|---|---|
## **11. Related party transactions**
The company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the company at 31 December 2023.
Page 15