TRUSTEES' REPORT & FINANCIAL STATEMENTS for the year ending 31.08.2022
## 21-22
Alyth Gardens Company Number: 12336110 London NW11 7EN Charity Number: 1186738
Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## 2021- 22 - RECONNECTING WITH ONE ANOTHER AND OUR JEWISH VALUES
**It is hard to believe that the 2021-22 year that is covered by this Trustees’ Report, is a year that began with the world still in the midst of a pandemic. It was a year that started closed, and through the dedication and professionalism of our Clergy and Staff Teams, ended open. It was an unforgettable year of reimagining, reconnecting and reopening.**
Rosh Hashanah II 5782. The Clergy and Choir were alone in the Beit Tefillah, with the community online.
As we moved towards September, the world was facing a new wave of Covid-19. The 'Alyth Year’ began with our Beit Tefillah closed, with people still anxious about coming to Shul, having to cancel celebrations and events because they or family members had Covid. It was a year in which we lost members to Covid. It hadn’t gone away.
The 5782 High Holy Days were the most difficult to plan for and deliver. Together with the Trustees, the Professional Team considered a wide range of options for the delivery of services and programming possible within the constantly changing government guidance. These were not normal High Holy Days. We returned to having a marquee on the Sternberg Centre site - with only 600 of the normal 1,500 seats. Our Clergy stood alone in the Beit Tefillah, accompanied by the Alyth Choir, depleted in number and socially distanced.
Going into the new year, with Covid still present, the Team had to once again review the Covid protocols and find new ways to bring the community together safely, while ensuring those not ready to return to in person gatherings were able to join online.
The marquee with just 600 of the usual 1,500 seats
Early morning bar mitzvah in the Sukkah. October 2021
Erev Chanukah Service and candle lighting on the forecourt - December 2021
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## 2021 - 22: A JOURNEY OF RECONNECTING
The Annual Meeting of Congregants in January was held online - for a second time. At the meeting we welcomed a new Chair of Trustees, and seven new trustees joined the Board.
By Pesach, life was opening up and we were able to come together in growing numbers in the Beit Tefillah and the newly refurbished upstairs prayer space. The symbolism of the seder was not missed at the family and communal sederim held in March. We came together to share a meal and remember our freedoms.
The return of in person Ruach on Friday nights, and a shul once again filled with members of every age, reminded us how much we value community and each other.
On Sunday mornings the building was once again filled with the chatter of our SMG children, learning, singing and simply being together. After 3 years of not being able to travel, our b'nei mitzvah groups were excited to be able to bond and explore Jewish Budapest together. The first group of Years 8 and 9 travelled to Budapest in February with a second Year-8 group travelling in October.
Regular activities, including the Alyth Cycling Club, Refugee DropIn, the Monday Club and the Alyth Social, all came back together in person, as the country and our community, slowly emerged from another round of Covid-19.
The lights rose again on the Alyth Children's Theatre for 4-8 year olds and on Alyth Academy for our teens, as they staged ' 'Matilda' (in May) and 'Legally Blonde' (in June).
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Ph
Ruach Budapest Trip - February 2022
teenager. Covid has been reallyhard for them, and us. Alythtrip was life changing for ourBudapest as part of the RuachBeing able to travel to "
enabled her to reconnect withher peers and rebuild herconfidence.
Alyth Mum of a 12 year old
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Purim - Oy Story: March 2022
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Services in the new upstairs prayer space
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Youth Drama was centre stage
with productions of 'Matilda' (above)
and 'Legally Blonde'
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## 2021 - 22: A JOURNEY OF RECONNECTING
Our collaboration with other communities and interfaith work remains central to our work and an articulation of our Alyth values. In April we were able to come together again with friends from local Muslim communities to host our 9th Alyth Iftar. Rabbi Hannah and Cantor Tamara represented Alyth at the International Ministerial Conference on Freedom of Religion or Belief, and our Clergy voices were heard on air and in the papers. The support and social activity provided by the Refugee DropIn team has continued and in April they began to meet in person again.
Everyone loved being back at SMG and on our Day Schemes and Alyth's famed SWAY AWAY over the Summer
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"
This is one of the most
important things that we do.
Being with our one another to
pray and eat together,
recognising our shared
humanity and gratitude for
community and faith.
Rabbi Hannah - Alyth Iftar Host
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In June, we were finally able to formally induct Cantor Tamara and Rabbi Elliott, and celebrate their contribution and commitment since joining Alyth at the start of the pandemic.
Celebrating the Queen's Jubilee was on everyone's agenda over the summer, including ours. We held a Jubilee lunch and recognised the enormous contribution of Her Majesty, Queen Elizabeth II in our services and study. Together we mourned her passing in early September 2022.
**2021 was the year in which Alyth life went from abnormal to almost back to normal. We took with us the lessons of the pandemic - agility and adaptability, vigilance around ventilation, and retaining the technology that we invested in during the pandemic that allows us to continue to include members who are unable to be with us due to health reasons or distance. We have so much to be proud of. Through collaborative working with the Trustees, our Clergy and Senior Professionals reopened one of largest communities in Europe. It was challenging, but nothing beats the joy of seeing our community continue to thrive and grow. Together.**
Induction ceremony for Cantor Tamara & Rabbi Elliott -June 2022
Alyth Kindergarten family activity
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Voices at Alyth in 2021-22:
Rabbi Noa Sattah (ACRI)
Daniel Sokatch (NIF)
Julie Siddiqi (The Big Iftar)
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## Our Values
**Alyth is a vibrant and welcoming community with Judaism and Jewish practice at its heart. At Alyth we embrace prayer and learning and practice a shared Judaism that is innovative and inclusive and that engages with the world around us.**
At Alyth everything we do is built together from a shared set of values.
We believe that nothing is more important in the life of a Jewish community than the relationships that we build and the welcome that we can give to one another.
We believe in equality and inclusion as religious principles. We include everyone equally irrespective of gender, ability, race, wealth, age and sexual orientation.
We believe that Judaism is best when it is shared with a diverse group of people. Ours is an accessible, grown up Judaism and one that nurtures and challenges our young people; both a Judaism for families and one that responds to the individual.
Alyth is built on a foundation of mutual care in which we share one another’s joys and sorrows and accompany one another through our life journeys.
We believe that prayer and Jewish learning are central to a meaningful Jewish life. We aim to create opportunities for worship and study that are intellectually rich, grounded in Jewish tradition and inspiring for all.
We are committed to innovation in the sacred task of creating an engaging Judaism. Sometimes we get things wrong and when we do, we learn from this too.
We believe in a Judaism that is utterly engaged with the world around us, both within the Jewish people and in the wider community.
We work as a respectful, collaborative partnership of professionals and lay leaders, working together for the good of our community and the individuals within it.
**Together we create a Kehilla K’dosha, a sacred community.**
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## FINANCIAL HIGHLIGHTS 2022
The Trustees’ Report and Financial Statements for the period from 1 September 2021 to 31 August 2022 reflect the activities of the Synagogue over a year which began in the throes of a pandemic, and moved from closed to open guided by the collaborative, thoughtful leadership of the Trustees and Senior Professionals, managing the operation of the Synagogue with care, and consideration for the diversity of financial, emotional and communal needs of our over 3,200 members.
The format of the Financial Statements reflects how our Clergy and Professional Team work across a number of areas of synagogue life at any one time, ensuring that delivery of services and programmes, member support and engagement and the day-to-day operation of the synagogue, function in a holistic and collaborative way.
## **INCOME:**
The income for the period relates to the ongoing collection of voluntary subscription income and the ongoing support of our members in making these annual contributions. Income from Donations and Legacies of £621k reflects the generosity of members who have supported the building project, as well as general donations and support for the High Holy Days Appeal. The focus over the past five years has been on raising funds for the building project which has enabled us to be ready to commence building in January 2023. The focus will remain on fundraising to support the development of our building for today, and for future generations.
## INCOME
## FINANCIAL FOCUS
Subscriptions
Subscription income: received in the year was £842k. (2020-21: £767k). More than 60% of members pay their subscription by direct debit enabling the Synagogue to manage cashflow during the year. When setting the budget for 2022-23, the Trustees looked to balance an increase in subscriptions that is affordable for members, with expected increases in operating costs and staff salaries. On this basis, the Trustees agreed a below inflation increase in member subscriptions of 5%.
Investments
The overall objective is a balanced investment strategy. The portfolio is managed on a medium risk basis. Year on year performance of the portfolio is shown here and detailed on page 9 of this report.
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Annual Total Return
15%
10%
5%
0%
-5%
-10%
-15%
2017 2018 2019 2020 2021 2022 ytd
Annual Total Return (%)
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## FINANCIAL HIGHLIGHTS 2022
## **EXPENDITURE:**
Expenditure of £1.9m in the 2021-22 financial year, signified a return to pre-pandemic levels of operating costs, and took into account global and UK inflationary pressures.
After two years of being mostly online, the High Holy Days were a mix of online and in person services at Alyth and in the tent at the Sternberg Centre. This meant a return to levels of spending on the High Holy Days closer to those in 2019. For the rest of 2021 and into 2022, Covid remained a factor in the planning and delivery of services, festivals and our normal levels of programming. The operation of the offices and running of the Kindergarten were also impacted.
Member demand for the provision of online services remained high after the High Holy days. Many services remained online, with a return to virtual meetings, and working-from-home. Expenditure on upgrading our IT provision and rehousing the server enabled us to continue to deliver high quality online provision to those who were not ready to return to in person gatherings.
In early Summer the focus turned to opening up and ensuring that we could safely welcome members back into the Beit Tefillah and the newly refurbished upstairs prayer and meeting spaces. It has been wonderful to once again make use of the upstairs space, and to finally vacate the Leo Baeck Wing ahead of it being demolished and rebuilt as the a modern, multipurpose prayer and meeting space for the whole community.
## Expenditure Breakdown 2021-22
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Kindergarten Costs
20%
Clergy& Staff Salaries
39%
Programme Deliv
9.9%
Premises
6%
Office Costs HHD costs
10.9% Reform Judaism 6.6%
7.6%
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## EXPENDITURE
## FINANCIAL FOCUS
Professional & Staff Salaries
Salaries are a substantial part of Alyth's annual expenditure. Through our investment in people we continue to deliver outstanding services and support, meeting the breadth of needs of our diverse community. Our small but effective staff team is made up of 4 full time and 1 part time member of Clergy, 9 members of the Staff Team and 21 members of staff of the Kindergarten.
Kindergarten
Alyth's outstanding Kindergarten continues to attract families from the local area, ensuring that the maximum number of places are filled each year, providing a safe and nurturing start for 48 children. In 2021-22, income from fees and Barnet Funding totalled £346k. This is sufficient to cover the salary costs of the teaching staff (18% of total salaries) and annual operating and programming expenditure.
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## MEMBERSHIP HIGHLIGHTS
Community has been an important constant for many of us, particularly over the past two years. In 2021-22, our community has continued to come together and care for one another, grateful for the value that Judaism adds to our lives. During the year, 14 babies were born into the community, 13 couples were married by our Clergy and 53 families celebrated a bar or bat mitzvah at Alyth, reading Torah for their community for the first time.
The ongoing focus on member engagement, and of stewarding new members through the joining process and welcoming them into the community has deepened our connection with members of all ages.
## Membership growth
Over the past decade Alyth membership has grown steadily. In 2021-22, we welcomed 210 new members (adults and children), equating to 76 new households. The number of new members continues to rise yearon-year. Total membership growth takes into account joiners and those who pass away or leave.
## Subscription income
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£1,000,000
£750,000
£500,000
£250,000
Annual Financial Statements 2017-2022
£0
2017 2018 2019 2020 2021 2022
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Demographics @ 31.12.22
## New Members
210 people of all ages joined Alyth in 2021-22
B'nei Mitzvah
53 young people celebrated their b'nei mitzvah in 2021-22
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under 18's
19-24
DID YOU KNOW
25-34 We have 113 members
35-44 who are 90+ years old
45-54
55-64
65-74
75-84
85+
0 250 500 750 1,000
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At nearly 70, we didn't expect to reconnect with our Judaism, make new friends and find community in the way we have at Alyth. Talk about counting our blessings!
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## **Looking ahead to 2022-23**
## **Alyth will be 90 years old this year.**
Since the first service in a house on Meadway in Hampstead Garden Suburb, in June 1933, Alyth has been a spiritual and communal home to thousands. From the first Jewish refugees, fleeing the impending rise of facism in Europe in the 30's, to the over 3,200 members we have today, Alyth is a community, a sanctuary, an expression of our Jewish values and a home-from-home.
2023 will be a year of celebration, of breaking down and rebuilding the Leo Baeck wing and of coming together to support one another through potentially challenging times. It will be a year of ongoing connection, joining one another for prayer and learning, social activities and celebrations; and a year of needing every member of the community to support the building project. Over £3million has already been raised for the project. We are grateful to those who have supported the project over the last 5 years. The generosity of members has enabled us to renew the upstairs prayer and meeting spaces and to bring the project to the point of breaking ground in early 2023. As we do so, we're asking everyone to be a part of building our future together.
## A year of building the future together
We're building for every time that we share our joys and sorrows together, for every new baby that is born into the community, their parents and grandparents, for every new couple, and for every member and every visitor to Alyth.
## A year of fundraising to build the future together
This is our time. A time to renew and rebuild. The generosity and support of every member will help us to build the building our community deserves.
## A year to to pray, learn and live, together
Join us as we come together for much valued connection, reflection and healing, finding strength in celebrating our joys and sharing our sorrows, and in being together sharing all that our community brings.
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## **Trustee Board**
Justin Wise (Chair. Elected January 2022) Noeleen Cohen (Co-opted January 2022) Russell Baum (Co-opted January 2022) Julia Simmonds David Brown Arieh Miller Nicholas Minter-Green (Vice Chair. Appointed January 2022) Corinna Hyman (Vice Chair. Appointed January 2022) David Bloom
Simone Proskewitz Terence Heymann Jeremy Baum Daniel Salem
## **Professional Team**
## **CLERGY**
Rabbi Josh Levy Principal Rabbi Rabbi Hannah Kingston Rabbi Cantor Tamara Wolfson Cantor Rabbi Elliott Karstadt Rabbi Rabbi Colin Eimer Rabbi
## **SENIOR STAFF**
Adam Martin Community Director Lynette Sunderland Head of Community Care and Lifecycle Samantha Heller Head of Member Engagement Tor Alter Head of Kindergarten Katie Hainbach Head of Music and Arts Sarah Langsford Fundraising & Development Coordinator
## **Financial & Legal**
Auditors: Nyman, Libson, Paul. Regina House. 124 Finchley Road. London. NW3 5JS Accounting Services: SJC Bookkeeping Bankers: Natwest Bank PLC. 45 Tottenham Court Road. London. W11 2EA Honorary Solicitor: Lawrence Radley. Reed Smith LLP. Broadgate Tower. London. EC2A 2RS Investment Advisors: Investec Wealth Management. 30 Gresham Street. London. EC2V 7QW
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## **Reserves**
The Trustees aim to maintain sufficient general and contingency reserves so as to be able to meet unexpected operating costs of the Synagogue and to contribute to contingencies such as the maintenance of the building.
The free reserves at 31 August 2022 amounted to £1.01m (2021:£1.06m). The total unrestricted expenditure for the period, on charitable activities excluding JJBS contributions, inclusive of staff costs, was £1.9m. The free reserves include £201k (2021:£217k) that has been allocated to various projects and worthy causes which are regarded as part of normal charitable activities and these allocations are internal and can be amended by the Trustees if required.
Current free reserves represent just under seven months’ cover over normal charitable activity expenditure. The Trustees monitor this KPI keenly and note that the Synagogue is currently operating within its target range. Particular attention is given to monitoring the likely trend over the foreseeable future in order to set an appropriate budget strategy, especially whilst we are concentrating efforts on fundraising for the building project.
The Restricted Funds of £3,26m (2021:£2.92m) predominantly comprise the value of the land on which the building sits. There are additional reserves of £1.04m (2021:£1.56m) the use of which is mandated by trust deeds, the largest fund of which being £750k set aside for the redevelopment of the building.
## **Risk management**
The Trustees of the Synagogue are responsible for financial oversight and the management of risk. The Trustees review the principal risks and uncertainties facing the Synagogue on an ongoing basis; particularly in the context of the
global pandemic, and are satisfied that the major risks identified have been adequately mitigated where possible.It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately identified.
## **Investments**
Policy: The Synagogue invests funds so as to generate reasonable long-term capital and income growth commensurate with the need to finance its long-term expenditure requirements and to protect the Synagogue’s capital against the risk of inflation. The investment manager is responsible for asset allocation and for making investments through a carefully selected group of both internal and external fund managers, in accordance with the policy and any restrictions set out in the policy.
Performance:
The investment portfolio held by Investec on Alyth’s behalf was valued at £1,033m on 31 August 2022.
In 2022 income from dividends totalled £23k. It was a challenging year for global economies still reeling from the pandemic and facing a war in Europe. The £88k loss on investments reflects the markets' reaction to inflationary pressure, the the downturn in bond and equity markets, and a cost of living crisis in the UK. It is expected that improving markets and a more stable economic outlook in 2023 will reverse the uncrystallised loss on the investment portfolio.
The investment managers will continue to review the performance of the portfolio and the Synagogues' circumstances to ensure that their mandate remains suitable.
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Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## **Governance**
The transfer of the assets from NWRS, the unincorporated charity (No.247081) to NWRS the incorporated entity (Company No.12336110) and (Charity No.1186738) was completed on 1 June 2021.
Alyth is a constituent member of the Movement for Reform Judaism (registered Charitable Company no. 07431950). Alyth exists in order to sustain and develop a Jewish centre for its members based on Progressive Jewish values and ethics, to meet its members' religious and communal needs, and to contribute to the wider Jewish and non-Jewish communities.
The purpose of Alyth as set out in the Articles of Association of the incorporated company, is the development of Reform Judaism in the spheres of public worship and religious education, cultural, social and charitable activities. The governance structure and operational framework that guide the activities of the charity are set out in the Rules as approved by Members at a General Meeting.
The Directors normally meet eleven times a year (a minimum of six meetings is specified in the Articles of Association). The requirement for three Advisory Groups (Finance, Policies & Procedures and Community Matters) and a Nominations Group is set out in the Articles. The Groups are set up to support and advise the Trustees on key areas of their responsibilities.
The Trustees are responsible for financial oversight, for implementing policies and for setting the strategic direction of the Synagogue. They are aware of their obligation to act in the best interests of the Community, and in line with the recommended guidelines of the Charity Commission. The Synagogue undertakes periodic reviews of its governance arrangements by reference to the Charities Governance Code.
## **Operations**
The operation of the Synagogue is underpinned by a collaborative partnership of lay leaders and professionals. The most senior employee is the Principal Rabbi who leads a team of dedicated professionals, responsible for the day to day operation of the Synagogue. The remuneration of the Clergy is set with reference to the Rabbinic Scales set by the Movement for Reform Judaism. Salaries in general are reviewed with reference to CPI and changes in average earnings.
## **Building Development: 2021-22 & into 2023**
The development of the building remains a priority for the Community. At the end of 2021 the refurbishment of the upstairs prayer and meeting spaces was completed. In 2022 the focus was on finalising the scheme, initiating a rigorous tender process and the appointment of a contractor; and on agreeing the terms of a 25-year bank loan from CAF Bank for £3.5million, to be secured by a first legal charge on the property.
Going into 2023, the contractor has been appointed, and the scheme and final costing agreed. The loan agreements and final build contract are due to be signed in early January 2023, enabling work to commence thereafter.
The total project cost £6.7million (including the cost of the 2021 upstairs refurbishment) is funded by £3.2million of funds raised from the community to date and the £3.5million loan. The Trustees have reviewed the terms of the loan, and applied due diligence to the 5-year financial forecasts, and the risks associated with undertaking a project of this scope and nature; and fully support moving forward with the project on the agreed terms.
It is clear that fundraising is a critical part of future financial management fulfilment of the loan obligations and will be the major focus of Alyth's communal efforts in 2022-23 and for the foreseeable future.
**1 1**
Alyth (NWRS) Trustees' Report & Financial Statements for the year ended 31 August 2022
## **Basis of preparation of accounts**
##
The Trustees present their annual report together with the audited financial statements of North Western Reform Synagogue (the charity) for the period 1 September 2021 - 31 August 2022. The Trustees confirm that the Trustees’ Report and Financial Statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) (effective 1 January 2015).
## **Fundraising Compliance**
The charity is committed to best practice, as outlined by the Fundraising Regulator, in its approach to fundraising and closely monitors its activities in this area, ensuring that vulnerable members are protected. No professional fundraisers are used by the charity. Fundraising for the building project was ongoing during 2021 and 2022 and will continue in earnest in 2023 and into 2024.
## **Trustee Responsibility**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the Trustees are required:
to select suitable accounting policies and then apply them consistently;
- to observe the methods and principles in the Charities SORP;
- to make judgments and accounting estimates that are reasonable and prudent;
- to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **This report was approved by the Trustees on 11 January 2023 and signed on their behalf by:**
**___________________________ Justin Wise Chair**
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## NORTH WESTERN REFORM SYNAGOGUE
STATUTORY ACCOUNTS FOR THE PERIOD: 1 SEPTEMBER 2021 TO 31 AUGUST 2022
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NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
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## **`INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTH WESTERN REFORM SYNAGOGUE`**
## **`Opinion`**
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We have audited the financial statements of North Western Reform Synagogue (the 'charity') for the year ended
31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash
Flowsand the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable lawand United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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In our opinion the financial statements:
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- `give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;`
- `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and`
- `have been prepared in accordance with the requirements of the Companies Act 2006.`
## **`Basis for opinion`**
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We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit
of the financial statementssection of ourreport. Weareindependent of the charitable company in accordance
with the ethical requirements that are relevant to ouraudit of the financial statementsin the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and wehave fulfilled ourother ethical
responsibilities in accordance with these requirements. Webelieve that the audit evidence wehave obtained is
sufficient and appropriate to provide a basis for our opinion.
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## **`Conclusions relating to going concern`**
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In auditing the financial statements, wehave concluded that the Trustees'use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
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Based on the work wehave performed, wehave not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company'sability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
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Ourresponsibilities and the responsibilities of the Trusteeswith respect to going concern are described in the
relevant sections of this report.
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NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
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## **`INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTH WESTERN REFORM SYNAGOGUE (CONTINUED)`**
## **`Other information`**
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The other information comprises the information included in the Trustees' Reportother than the financial
statementsand ourAuditors' Reportthereon. The Trusteesare responsible for the other information contained
within the Trustees' Report. Ouropinion on the financial statementsdoes not cover the other information and,
except to the extent otherwise explicitly stated in ourreport, wedo not express any form of assurance
conclusion thereon. Ourresponsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If weidentify such material inconsistencies or
apparent material misstatements, wearerequired to determine whether this gives rise to a material
misstatement in the financial statementsthemselves. If, based on the work wehave performed, weconclude
that there is a material misstatement of this other information, we are required to report that fact.
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We have nothing to report in this regard.
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## **`Opinion on other matters prescribed by the Companies Act 2006`**
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In our opinion, based on the work undertaken in the course of the audit:
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- `the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.`
- `the Trustees' Report has been prepared in accordance with applicable legal requirements.`
## **`Matters on which we are required to report by exception`**
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In the light of ourknowledge and understanding of the charitable companyand its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees' Report.
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Wehave nothing to report in respect of the following matters in relation to whichCompanies Act 2006requires
us to report to you if, in our opinion:
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- `adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or`
- `the financial statements are not in agreement with the accounting records and returns; or`
- `certain disclosures of Trustees' remuneration specified by law are not made; or`
- `we have not received all the information and explanations we require for our audit; or`
- `the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.`
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NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
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## **`INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTH WESTERN REFORM SYNAGOGUE (CONTINUED)`**
## **`Responsibilities of trustees`**
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As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view,and for such internal control as the
Trusteesdetermine is necessary to enable the preparation of financial statementsthat are free from material
misstatement, whether due to fraud or error.
```
```
In preparing the financial statements, the Trusteesare responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Trusteeseither intend to liquidate the charitable companyor to
cease operations, or have no realistic alternative but to do so.
```
```
Page 15
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTH WESTERN REFORM SYNAGOGUE (CONTINUED)`**
## **`Auditors' responsibilities for the audit of the financial statements`**
```
Ourobjectives are to obtain reasonable assurance about whether the financial statementsas a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors' Reportthat includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
```
```
Irregularities, including fraud, are instances of non-compliance with laws and regulations. Wedesign
procedures in line with ourresponsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which ourprocedures are capable of detecting irregularities,
including fraud is detailed below:
```
```
We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in
which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and
regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of
not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from
error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or
through collusion.
```
```
We focussed on laws and regulations which could give rise to a material misstatement in the financial
statements, including, but not limited to, the Charities Act 2011 and Companies Act 2006. Our tests included
agreeing the financial statement disclosures to underlying supporting documentation and enquiries with
management. There are inherent limitations in the audit procedures described above and, the further removed
non-compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. We did not identify any key audit matters relating to
irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal
controls, including testing journals and evaluating whether there was evidence of bias by the trustees that
represented a risk of material misstatement due to fraud.
```
```
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
```
```
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
```
```
A further description of ourresponsibilities for the audit of the financial statementsis located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our
Auditors' Report.
```
## **`Use of our report`**
```
This report is made solely to the charitable company's members, as a body,in accordance with Chapter 3 of
Part 16 of the Companies Act 2006.Ouraudit work has been undertaken so that wemight state to the
charitable company's membersthose matters we are required to state to them in an Auditors' Report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charitable company and its members, as a body,for ouraudit work, for this report, or for the opinions
we have formed.
```
```
Page 16
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NORTH WESTERN REFORM SYNAGOGUE (CONTINUED)`**
## **`Jennifer Pope (Senior Statutory Auditor)`**
```
for and on behalf of
Nyman Libson Paul LLP
```
```
Chartered Accountants
Registered Auditors
```
```
124 Finchley Road
```
```
London
```
```
NW3 5JS
```
```
16 January 2023
```
```
Page 17
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022`**
|`Note`
**`Income from:`**
`Voluntary income`
`4`
`Charitable activities`
`5`
`Investments`
`6`
`Other income - transfer in of assets`
`7`
**`Total income`**
**`Expenditure on:`**
`Raising funds`
`8`
`Charitable activities`
`10`
`Other expenditure`
`9`
**`Total expenditure`**
**`Net income before net`**
**`(losses)/gains on investments`**
`Net (losses)/gains on investments`
`15`
**`Net income/(expenditure)`**
`Transfers between funds`
`19`
**`Net movement in funds`**
**`Reconciliation of funds:`**
`Total funds brought forward`
`Net movement in funds`
**`Total funds carried forward`**|`Restricted`
`funds`
`31 August`
`2022`
`£`
`423,338`
`-`
`3,009`
`-`
`426,347`
`-`
`57,927`
`-`
`57,927`
`368,420`
`(11,551)`
`356,869`
`(17,922)`
`338,947`
`2,923,859`
`338,947`
`3,262,806`|`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`1,500,174`
`413,307`
`19,933`
`-`
`1,933,414`
`10,464`
`1,920,587`
`-`
`1,931,051`
`2,363`
`(76,526)`
`(74,163)`
`17,922`
`(56,241)`
`1,068,269`
`(56,241)`
`1,012,028`|`Total`
`funds`
`31 August`
`2022`
`£`
`1,923,512`
`413,307`
`22,942`
`-`
`2,359,761`
`10,464`
`1,978,514`
`-`
`1,988,978`
`370,783`
`(88,077)`
`282,706`
`-`
`282,706`
`3,992,128`
`282,706`
`4,274,834`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`436,300`
`24,537`
`4,842`
`4,026,262`|
|---|---|---|---|---|
|||||`4,491,941`|
|||||`2,613`
`443,763`
`101,083`|
|||||`547,459`|
|||||`3,944,482`
`47,646`|
|||||`3,992,128`
`-`|
|||||`3,992,128`|
|||||`-`
`3,992,128`|
|||||`3,992,128`|
```
The Statement of Financial Activities includes all gains and losses recognised in the year.
```
```
The notes on pages 21 to 42 form part of these financial statements.
```
```
Page 18
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
```
(A Company Limited by Guarantee)
REGISTERED NUMBER: 12336110
```
```
BALANCE SHEET
AS AT 31 AUGUST 2022
```
|`Note`
**`Fixed assets`**
`Tangible assets`
`14`
`Investments`
`15`
**`Current assets`**
`Debtors`
`16`
`Cash at bank and in hand`
`Creditors: amounts falling due within one`
`year`
`17`
**`Net current assets`**
`Provisions for liabilities`
**`Total net assets`**
**`Charity funds`**
`Restricted funds`
`19`
`Unrestricted funds`
`19`
**`Total funds`**|`197,863`
`1,223,137`
`1,421,000`
`(408,121)`|`2022`
`£`
`2,249,419`
`1,044,418`
`3,293,837`
`1,012,879`
`(31,882)`
`4,274,834`
`3,262,806`
`1,012,028`
`4,274,834`|`223,516`
`1,323,802`
`1,547,318`
`(206,764)`|`2021`
`£`
`1,586,776`
`1,120,016`
`2,706,792`
`1,340,554`
`(55,218)`
`3,992,128`
`2,923,859`
`1,068,269`
`3,992,128`|
|---|---|---|---|---|
```
The Trusteesacknowledge 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 Trusteeson 16 January 2023and
signed on their behalf by:
```
```
Justin Wise
Chair
```
```
Noeleen Cohen
Trustee
```
```
The notes on pages 21 to 42 form part of these financial statements.
```
```
Page 19
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022`**
|**`Cash flows from operating activities`**
`Net cash generated/(used) in operating activities`
`Dividends, interests and rents from investments`
`Purchase of tangible fixed assets`
`Proceeds from sale of investments`
`Purchase of investments`
`Investment management fees deducted`
**`Net cash (used in)/provided by investing activities`**
**`Cash flows from other activities`**
`Cash transferred in from unincorporated charity on 1 June 2021`
`Cash and cash equivalents at the beginning of the year`
**`Cash and cash equivalents at the end of the year`**|`31 August`
`2022`
`£`
`633,341`
`22,942`
`(734,006)`
`207,103`
`(288,614)`
`(10,464)`
`(803,039)`
`-`
`1,403,441`
`1,233,743`|`3 months`
`ended`
`31 August`
`2021`
`£`
`(27,964)`
`4,842`
`-`
`9,095`
`(8,648)`
`(2,613)`
`2,676`
`1,428,729`
`-`
`1,403,441`|
|---|---|---|
```
The notes on pages 21 to 42 form part of these financial statements
```
```
Page 20
```
## **`NORTH WESTERN REFORM SYNAGOGUE (A Company Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`1. General information`**
```
North Western Reform Synagogue is private company limited by guarantee, registered in England and
Wales. The address of its registered office is listed on page 1 of these financial statements. The charity's
purpose is the pursuance of Reform Judaism in the spheres of public worship, and religious, educational,
cultural, social and charitable activities.
```
## **`2. Accounting policies`**
## **`2.1 Basis of preparation of financial statements`**
```
The financial statementshave 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.
```
```
North Western Reform Synagoguemeets 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`**
```
At the reporting date the charity held £1.2m in cash, had net current assets of c£1m and unrestricted
free reserves (including investments) of just over £1m.
```
```
The projected operational (non-building) expenditure for the next 12 months indicates that this level
of reserves would cover around 7 months of operations in the absence of any income. This is in line
with the charity’s reserves policy of holding not less than 4 months expenditure in reserves. The
membership base is solid and subscription income is projected to continue at similar levels over the
coming year.
```
```
The charity's renovation works at the synagogue are in progress and the community has previously
given approval to secure a loan of up to £3.5m which, in addition to pledges of donations to the sum
of £3.2m, will provide the finance for the main phase of the project, estimated at £6.7m. Currently,
the trustees are in the process of agreeing the terms of a 25-year bank loan for £3.5million, to be
secured by a first legal charge on the property. Going into 2023, the contractor has been appointed,
and the scheme and final costing agreed. The loan agreements and final build contract are due to be
signed in January 2023.
```
```
The Trustees have reviewed the terms of the loan, and applied due diligence to the 5-year financial
forecasts, and the risks associated with undertaking a project of this scope and nature and fully
support moving forward with the project on the agreed terms on the basis that the project is fully
funded and financially viable. It is clear that fundraising will be a critical part of the future financial
management fulfilment of the loan obligations and will be the major focus of Alyth's communal
efforts in 2022-23 and for the foreseeable future.
```
```
At the time of approving these financial statements, and after reviewing the charity’s financial
forecasts and projections based on the proposed plans, the trustees are confident that the charity
has adequate resources to continue in operational existence for a period of at least the next 12
months and subsequently. The trustees therefore consider it appropriate to adopt the going concern
basis in preparing the charity’s financial statements.
```
```
Page 21
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`2. Accounting policies (continued)`**
## **`2.3 Income`**
```
All income is recognised once the charityhas entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
```
```
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the charityhas sufficient evidence that a gift has been left to
them (through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
charity, can be reliably measured.
```
```
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
```
```
Subscription income is recognised over the membership year, starting from the date of receipt.
```
```
Kindergarten fees and education income are deferred as necessary to recognise them over the
period to which they relate.
```
```
Rental income is recognised over the period in which it is earned.
```
```
Included in other income in the prior year is the book value of net assets transferred to the charitable
company from the unincorporated charity of the same name, registered on the Charity Commission
with the number 247081. This transfer took place on 1 June 2021.
```
## **`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 raising funds includes all expenditure incurred by the charityto raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
```
```
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
charity's objectives, as well as any associated support costs.
```
```
All expenditure is inclusive of irrecoverable VAT.
```
```
Page 22
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`2. Accounting policies (continued)`**
## **`2.5 Government grants`**
```
Government grants are credited to the Statement of financial activities as the related expenditure is
incurred. Income from government grants are from the Coronavirus Job Retention Scheme
(furlough) and the London Borough of Barnet to support 2 year olds in Early Years settings.
```
## **`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.
```
```
Depreciationis charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
```
```
Depreciation is provided on the following basis:
```
|`Freehold property`|`-`|`2%`|
|---|---|---|
|`Fixtures and fittings`|`-`|`15%`|
|`Computer equipment`|`-`|`25%`|
|`New Bimah`|`-`|`4%`|
## **`2.7 Investments`**
```
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheetdate, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses)
on investments’ in the Statement of Financial Activities.
```
## **`2.8 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.
```
## **`2.9 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.
```
```
Page 23
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
```
## **`2. Accounting policies (continued)`**
## **`2.10 Liabilities`**
```
Liabilities and provisions are recognised when there is an obligation at the Balance Sheetdate as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
```
```
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
```
```
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
```
## **`2.11 Financial instruments`**
```
The charityonly has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. 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 amortised cost using the effective interest method.
```
## **`2.12 Pensions`**
```
The charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the charity to the fund in respect of the period.
```
## **`2.13 Fund accounting`**
```
General funds are unrestricted funds which are available for use at the discretion of the Trusteesin
furtherance of the general objectives of the charityand which have not been designated for other
purposes.
```
```
Designated funds comprise unrestricted funds that have been set aside by the Trusteesfor
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
```
```
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charityfor 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.
```
```
Investment income, gains and losses are allocated to the appropriate fund.
```
```
Page 24
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`3. Critical accounting estimates and areas of judgment`**
```
Estimates and judgmentsare continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
```
```
Critical accounting estimates and assumptions:
```
## **`Tangible assets`**
```
Tangible assets are depreciated over their useful lives taking into account residual values, where
appropriate. The actual lives of the assets and residual values are assessed annually and may vary
depending on the number of factors. In re-assessing asset lives, factors such as technological innovation,
product life cycles and maintenance programmes are taken into account. Residual value assessments
consider issues such as future market conditions, the remaining life of the asset and projected disposal
values.
```
## **`Accruals`**
```
An estimate of accruals at the year end are made based on invoices received after the after the year end
and work undertaken which has not been invoiced based on quotations or estimates of amounts that may
be due for payment.
```
```
Page 25
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`4. Voluntary income`**
|`Subscriptions`
`Donations and Legacies`
`Income tax recoverable`
`Government grants`
`Burial Society fees`
**`Total 2022`**|`Restricted`
`funds`
`31 August`
`2022`
`£`
`-`
`423,338`
`-`
`-`
`-`
`423,338`|`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`841,644`
`197,988`
`230,277`
`109,577`
`120,688`
`1,500,174`|`Total`
`funds`
`31 August`
`2022`
`£`
`841,644`
`621,326`
`230,277`
`109,577`
`120,688`
`1,923,512`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`192,443`
`91,889`
`67,804`
`55,040`
`29,124`|
|---|---|---|---|---|
|||||`436,300`|
## **`5. Income from charitable activities`**
|`Pray with us`
`Live with us`
`Be with us`
`Act with us`
`Youth & education`
`Kindergarten`
`Office`
**`Total 2022`**|`Restricted`
`funds`
`31 August`
`2022`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`7,331`
`10,000`
`1,668`
`12,288`
`96,204`
`283,699`
`2,117`
`413,307`|`Total`
`funds`
`31 August`
`2022`
`£`
`7,331`
`10,000`
`1,668`
`12,288`
`96,204`
`283,699`
`2,117`
`413,307`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`398`
`183`
`-`
`251`
`6,406`
`17,179`
`120`|
|---|---|---|---|---|
|||||`24,537`|
```
Page 26
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`5. Income from charitable activities (continued)`**
## **`Pray with us`**
```
We believe that prayer is central to a meaningful Jewish life. We aim to create opportunities for worship that are
intellectually rich, grounded in Jewish tradition and inspiring for all. To meet the prayer needs of the greatest
possible number of our members, we hold a diverse range of services on Shabbat mornings, on festivals and on the
High Holy Days. Because we believe that prayer matters to all, children are welcome in our adult services, and we
also run regular innovative family services.
```
## **`Live with us`**
```
Alyth is built on a foundation of mutual care in which we share one another’s joys and sorrows and accompany one
another through our life journeys.One of the greatest joys of Jewish life is to live as part of a caring community –
one that supports us when we are falling, and shares our joys in happy times. Alyth is a place of care: led by a
dedicated Head of Community Care and Life Cycle, ours is a community in which we care for one another through
illness, bereavement, and the many challenges of life – providing practical and emotional support – meals,
transport, company, and a listening ear for those who need. To care is built into the fabric of everything we do.Alyth
is also a place of great joy: home to over 50 B’nei Mitzvah a year, baby blessings, weddings, anniversaries, special
birthdays. Our celebrations are more special for being shared with community.
```
## **`Be with us`**
```
We believe that nothing is more important in the life of a Jewish community than the relationships that we build and
the welcome that we can give to one another. Prayer and learning are a central part of Jewish life, but they are not
enough. To be a community is to share a wider range of interests and activities with one another – to be a genuine
Jewish community centre. At Alyth we ramble, sing, act, cycle, play, paint, cook, eat, meditate, go on outings – all
with people who know your name and care about your story!
```
## **`Act with us`**
```
We believe in a Judaism that is utterly engaged with the world around us, both within the Jewish people and our
wider community. To be Jewish is to care about the world around us and to take responsibility for it. Alyth is home
to the social awareness and activism that Judaism demands of us. Alyth is a community engaged in the world
around us including our willingness to have difficult conversations about Israel, our volunteer-led monthly refugee
drop-in and winter homeless shelter, our work to enable those with mental illness to enjoy Jewish life.
```
## **`Youth & Education`**
```
The Youth and Education Hub provides a learning and Jewish engagement programmes for ages 4 – 18, led by a
dedicated and ambitious team of educators. Our desire is for our children to love coming to learn at Alyth and for
them to benefit from the knowledge and skills they acquire and to inspire a journey of learning and living for each of
them.
```
## **`Kindergarten`**
```
Alyth Kindergarten was established in 1970 to provide pre-school progressive Jewish education for Jewish children.
The kindergarten’s outstanding reputation has grown over the years and continues to maintain its unique position in
the area for its child-centred and caring approach which is why we cap our K1 and K2 group sizes to 24 in each
class. Alyth Kindergarten is an important part of our Early Years provision and has strong links to the other areas of
Alyth life.
```
## **`Office`**
```
We work as a respectful, collaborative partnership of professionals and lay leaders, working together for the good of
our community and the individuals within it. Alyth is blessed with a dedicated team of professional staff who aim to
always be available: when you want to find out about a Synagogue programme, when something significant has
happened in your life, or when you have an idea for how our community can develop.
```
```
Page 27
```
```
(A Company Limited by Guarantee)
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`6. Investment income`**
|`Dividends receivable`
**`Other incoming resources`**
`Transfer of assets`
**`Investment management costs`**
`Investment management fees`|`Restricted`
`funds`
`31 August`
`2022`
`£`
`3,009`
`Restricted`
`funds`
`31 August`
`2022`
`£`
`-`|`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`19,933`
`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`-`
`Unrestricted`
`funds`
`31 August`
`2022`
`£`
`10,464`|`Total`
`funds`
`31 August`
`2022`
`£`
`22,942`
`Total`
`funds`
`31 August`
`2022`
`£`
`-`
`Total`
`funds`
`31 August`
`2022`
`£`
`10,464`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`4,842`|
|---|---|---|---|---|
|||||`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`4,026,262`
`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`2,613`|
## **`7. Other incoming resources`**
## **`8. Investment management costs`**
```
Page 28
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`9. Other expenditure`**
||||`Total`|
|---|---|---|---|
||`Restricted`|`Total`|`funds`|
||`funds`|`funds`|`3 months`|
||||`ended`|
||`31 August`|`31 August`|`31 August`|
||`2022`|`2022`|`2021`|
||`£`|`£`|`£`|
|`Synagogue redevelopment related expenditure`|`-`|`-`|`101,083`|
## **`10. Analysis of expenditure by activities`**
|`Pray with us`
`Live with us`
`Be with us`
`Act with us`
`Youth & education`
`Adult education`
`Kindergarten`
`Premises`
`Music`
`Burial Scheme`
`Office & miscellaneous`
`Reform movement affiliation`
**`Total 2022`**|`Activities`
`undertaken`
`directly`
`31 August`
`2022`
`£`
`148,457`
`24,057`
`15,022`
`21,307`
`127,306`
`-`
`87,689`
`7,511`
`-`
`129,044`
`7,150`
`116,090`
`683,633`|`Support`
`costs`
`31 August`
`2022`
`£`
`417,881`
`67,488`
`6,681`
`10,284`
`101,907`
`-`
`351,737`
`153,078`
`-`
`-`
`185,825`
`-`
`1,294,881`|`Total`
`funds`
`31 August`
`2022`
`£`
`566,338`
`91,545`
`21,703`
`31,591`
`229,213`
`-`
`439,426`
`160,589`
`-`
`129,044`
`192,975`
`116,090`
`1,978,514`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`89,219`
`31,762`
`9,043`
`15,276`
`24,496`
`2,878`
`71,619`
`97,949`
`3,593`
`33,550`
`32,128`
`32,250`|
|---|---|---|---|---|
|||||`443,763`|
```
Page 29
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`10. Analysis of expenditure by activities (continued)`**
## **`Analysis of support costs`**
|`Staff costs`
`Printing, postage and stationery`
`Cleaning`
`Lighting, heating and rates`
`Repairs and maintenance`
`Insurances`
`Security`
`Computer and IT costs`
`Telephone`
`Depreciation - fixtures and fittings`
`Bank charges`
`Accountancy fees`
`Legal and professional`
`Sundry costs`
`Other memberships`
**`Total 2022`**|`Total`
`funds`
`31 August`
`2022`
`£`
`1,014,079`
`6,164`
`15,480`
`38,399`
`5,039`
`18,205`
`6,749`
`51,297`
`583`
`71,361`
`6,085`
`49,973`
`1,939`
`7,053`
`2,475`
`1,294,881`|`Total`
`funds`
`3 months`
`ended`
`31 August`
`2021`
`£`
`245,055`
`14,344`
`987`
`3,976`
`4,919`
`5,198`
`9,949`
`5,015`
`1,800`
`17,852`
`1,177`
`13,612`
`7,960`
`9,808`
`2,468`|
|---|---|---|
|||`344,120`|
```
Page 30
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`11. Auditors' remuneration`**
|||`3 months`|
|---|---|---|
|||`ended`|
||`31 August`|`31 August`|
||`2022`|`2021`|
||`£`|`£`|
|`Fees payable to the charity's auditor for the audit of the charity's annual`|||
|`accounts`|`8,500`|`8,500`|
|`Fees payable to the charity's auditor in respect of:`|||
|`All non-audit services not included above`|`4,500`|`4,500`|
## **`12. Staff costs`**
|`Wages and salaries`
`Social security costs`
`Contribution to defined contribution pension schemes`|`31 August`
`2022`
`£`
`886,954`
`85,623`
`58,136`
`1,030,713`|`3 months`
`ended`
`31 August`
`2021`
`£`
`215,542`
`19,662`
`13,754`|
|---|---|---|
||||
|||`248,958`|
```
The average number of persons employed by the charity during the year was as follows:
```
|`Clergy`
`Kindergarten`
`Music`
`Welfare`
`Office`
`Caretaking`
`Youth and Education`|`31 August`
`2022`
`No.`
`4`
`16`
`1`
`1`
`4`
`2`
`1`
`29`|`3 months`
`ended`
`31 August`
`2021`
`No.`
`4`
`21`
`1`
`1`
`4`
`2`
`1`|
|---|---|---|
||||
|||`34`|
```
Page 31
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`12. Staff costs (continued)`**
```
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
```
|||||`3`|`months`|
|---|---|---|---|---|---|
||||||`ended`|
|||`31`|`August`|`31`|`August`|
||||`2022`||`2021`|
||||`No.`||`No.`|
|`In the band £120,001`|`- £130,000`||`-`||`1`|
|`In the band £130,001`|`- £140,000`||`1`||`-`|
```
The above figure for the prior period is pro rated over 12 months.
```
```
The core management of the Community is carried out by senior professionals, including Clergy and
members of the Professional Team. The total amount payable to key management for employee services
during the period was £320,606 (2021: £77,303)
```
## **`13. Trustees' remuneration and expenses`**
```
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
```
```
During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL).
```
```
Page 32
```
```
(A Company Limited by Guarantee)
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`14. Tangible fixed assets`**
|**`Cost or valuation`**
`At 1 September 2021`
`Additions`
`At 31 August 2022`
**`Depreciation`**
`At 1 September 2021`
`Charge for the year`
`At 31 August 2022`
**`Net book value`**
`At 31 August 2022`
`At 31 August 2021`|`Freehold`
`property`
`£`
`2,402,902`
`-`
`2,402,902`
`853,057`
`55,378`
`908,435`
`1,494,467`
`1,549,845`|`Freehold`
`property`
`under`
`construction`
`£`
`-`
`729,555`
`729,555`
`-`
`-`
`-`
`729,555`
`-`|`Fixtures and`
`fittings`
`£`
`99,281`
`-`
`99,281`
`93,751`
`2,690`
`96,441`
`2,840`
`5,530`|`Computer`
`equipment`
`£`
`79,449`
`4,450`
`83,899`
`48,048`
`13,294`
`61,342`
`22,557`
`31,401`|`Total`
`£`
`2,581,632`
`734,005`|
|---|---|---|---|---|---|
||||||`3,315,637`|
||||||`994,856`
`71,362`|
||||||`1,066,218`|
||||||`2,249,419`|
||||||`1,586,776`|
```
Page 33
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`15. Fixed asset investments`**
|**`Cost or valuation`**
`At 1 September 2021`
`Additions`
`Disposals`
`Revaluations`
`Dividend income`
`Management fees`
`At 31 August 2022`
**`Net book value`**
`At 31 August 2022`
`At 31 August 2021`
**`16.`**
**`Debtors`**
**`Due within one year`**
`Other debtors`
`Prepayments and accrued income`|`Listed`
`investments`
`£`
`1,040,377`
`288,615`
`(207,103)`
`(88,077)`
`-`
`-`
`1,033,812`
`1,033,812`
`1,040,377`||`Capital`
`account`
`£`
`79,639`
`(288,614)`
`207,103`
`-`
`22,942`
`(10,464)`
`10,606`
`10,606`
`79,639`
`2022`
`£`
`-`
`197,863`||`Total`
`£`
`1,120,016`
`1`
`-`
`(88,077)`
`22,942`
`(10,464)`
`1,044,418`
`1,044,418`
`1,120,016`
`2021`
`£`
`2,481`
`221,035`|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
||||`197,863`||`223,516`|
```
Page 34
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
## **`(A Company Limited by Guarantee)`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`17. Creditors: Amounts falling due within one year`**
|`Trade creditors`
`Other taxation and social security`
`Other creditors`
`Accruals and deferred income`|`2022`
`£`
`94,644`
`90,608`
`20,008`
`202,861`
`408,121`|`2021`
`£`
`9,261`
`21,845`
`9,622`
`166,036`|
|---|---|---|
||||
|||`206,764`|
## **`18. Provisions`**
|`At 1 September 2021`
`Amounts used`
`Amounts reversed`|`Pension`
`deficit`
`£`
`55,218`
`(3,336)`
`(20,000)`
`31,882`|
|---|---|
```
Page 35
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`19. Statement of funds`**
## **`Statement of funds - current year`**
|**`Unrestricted`**
**`funds`**
**`Designated`**
**`funds`**
`Access fund`
`Alyth Drama`
`Funds`
`Alyth Youth`
`Singers`
`Bar Mitzvah`
`Trip`
`Burial fund`
`Community`
`Welfare Fund`
`Contingency`
`Fund`
`Covid`
`Response Fund`
`Education Fund`
`Kerch Funds`
`Legacy Fund`
`Monday Club`
`Outreach Fund`
`Refugee project`
`Social Action`
`Fund`
`Social Justice`
`DevelopmentFu`
`nd`
`Welfare`
`Assistance`
`Youth Schemes`
`and Events`
`Other funds`|`Balance at 1`
`September`
`2021`
`£`
`3,580`
`9,407`
`3,498`
`(148)`
`13,090`
`23,165`
`400,000`
`9,825`
`47,923`
`11,469`
`2,000`
`7,030`
`6,186`
`5,246`
`10,448`
`27,168`
`3,187`
`8,664`
`21,074`
`612,812`|`Income`
`£`
`-`
`-`
`-`
`-`
`140`
`6,365`
`-`
`-`
`-`
`735`
`-`
`-`
`-`
`-`
`-`
`3,485`
`-`
`-`
`750`
`11,475`|`Expenditure`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(7,465)`
`-`
`(2,500)`
`-`
`-`
`-`
`-`
`(999)`
`(10,964)`|`Transfers`
`in/out`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(9,825)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(1,839)`
`(414)`
`(12,078)`|`Gains/`
`(Losses)`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`Balance at`
`31 August`
`2022`
`£`
`3,580`
`9,407`
`3,498`
`(148)`
`13,230`
`29,530`
`400,000`
`-`
`47,923`
`12,204`
`2,000`
`(435)`
`6,186`
`2,746`
`10,448`
`30,653`
`3,187`
`6,825`
`20,411`
`601,245`|
|---|---|---|---|---|---|---|
```
Page 36
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`19. Statement of funds (continued)`**
## **`General funds`**
|`General Funds`
`- all funds`
**`Restricted`**
**`funds`**
`Gladys Gebbie`
`Fund`
`Jubilee Fund`
`NWRS`
`Charitable Fund`
`Alyth Youth`
`Fund`
`Clergy Jewish`
`Participation`
`Fund`
`Freehold land`
`and buildings`
`High Holy Day`
`Appeal`
`Other restricted`
`funds`
`Tekiyah`
**`Total of funds`**|`455,457`
`49,057`
`87,920`
`15,372`
`60,801`
`109,783`
`1,547,454`
`(12,078)`
`7,543`
`1,058,007`
`2,923,859`
`3,992,128`|`1,921,939`
`1,078`
`1,931`
`3,248`
`-`
`5,680`
`-`
`-`
`-`
`414,410`
`426,347`
`2,359,761`|`(1,920,087)`
`-`
`-`
`-`
`-`
`(2,549)`
`(55,378)`
`-`
`-`
`-`
`(57,927)`
`(1,988,978)`|`30,000`
`(30,000)`
`-`
`-`
`-`
`-`
`731,946`
`12,078`
`-`
`(731,946)`
`(17,922)`
`-`|`(76,526)`
`(4,137)`
`(7,414)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(11,551)`
`(88,077)`|`410,783`|
|---|---|---|---|---|---|---|
|||||||`15,998`
`82,437`
`18,620`
`60,801`
`112,914`
`2,224,022`
`-`
`7,543`
`740,471`|
|||||||`3,262,806`|
|||||||`4,274,834`|
```
Page 37
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`19. Statement of funds (continued)`**
```
Gladys Gebbie fund represents investments of the late Gladys Gebbie and the outgoing amount is used
to fund part of the Director of Welfare & Lifecycle's salarys.
```
```
Jubilee fund relates to a fund set up to provide grants out of capital for major work to the Synagogue and
grants out of income to fund education activities. It originally had its own trustees and constitution.
```
```
Alyth Youth fund provides grants to the youth department and direct to individuals to assist with specific
activities and purchases. It originally had its own trustees and constitution.
```
```
Clergy Jewish Participation Fund is an account set up by the Rabbinic Team, which is now part of the
Synagogues restricted funds. Income is obtained from donations from members and confidential
payments are made to members of the Synagogue in extreme financial need at the discretion of the
Clergy Team who are trustees of this account.
```
```
The High Holyday Appeal fund represents amounts collected by the High Holyday Appeal of the
Synagogue and other collections which have been or will be paid to earmarked charities or to designated
funds held by the synagogue used for specified charitable purposes.
```
```
The Tekiyah fund represents monies allocated to be spent in the future by the Synagogue in relation to
the development of the building.
```
```
Page 38
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`19. Statement of funds (continued)`**
## **`Statement of funds - prior year`**
|**`Unrestricted funds`**
**`Designated funds`**
`Access fund`
`Alyth Drama Funds`
`Alyth Youth Singers`
`Bar Mitzvah Trip`
`Burial fund`
`Community Welfare Fund`
`Contingency Fund`
`Covid Response Fund`
`Education Fund`
`Kerch Funds`
`Legacy Fund`
`Monday Club`
`Outreach Fund`
`Refugee project`
`Social Action Fund`
`Social Justice`
`DevelopmentFund`
`Welfare Assistance`
`Youth Schemes and Events`
`Other funds`
**`General funds`**
`General funds`
**`Total Unrestricted funds`**|`Balance at`
`1 January`
`2021`
`£`
`3,580`
`8,957`
`3,498`
`1,022`
`13,090`
`28,349`
`400,000`
`9,825`
`47,923`
`11,218`
`2,000`
`7,030`
`6,186`
`7,746`
`10,448`
`27,168`
`3,187`
`8,664`
`17,274`
`617,165`
`379,413`
`996,578`|`Income`
`£`
`-`
`450`
`-`
`250`
`-`
`-`
`-`
`-`
`-`
`251`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`6,389`
`7,340`
`442,292`
`449,632`|`Expenditure`
`£`
`-`
`-`
`-`
`(1,420)`
`-`
`(5,184)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(2,500)`
`-`
`-`
`-`
`-`
`(2,589)`
`(11,693)`
`(408,328)`
`(420,021)`|`Gains/`
`(Losses)`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`42,080`
`42,080`|`Balance at`
`31 August`
`2021`
`£`
`3,580`
`9,407`
`3,498`
`(148)`
`13,090`
`23,165`
`400,000`
`9,825`
`47,923`
`11,469`
`2,000`
`7,030`
`6,186`
`5,246`
`10,448`
`27,168`
`3,187`
`8,664`
`21,074`
`612,812`
`455,457`
`1,068,269`|
|---|---|---|---|---|---|
```
Page 39
```
```
NORTH WESTERN REFORM SYNAGOGUE
```
```
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`19. Statement of funds (continued)`**
## **`Restricted funds`**
|`Gladys Gebbie Fund`
`Jubilee Fund`
`NWRS Charitable Fund`
`Alyth Youth Fund`
`Clergy Jewish Participation`
`Fund`
`Freehold land and buildings`
`High Holy Day Appeal`
`Tekiyah`
`Other restricted funds`
**`Total of funds`**|`46,861`
`83,984`
`15,372`
`60,801`
`109,883`
`1,560,171`
`-`
`1,145,069`
`7,543`
`3,029,684`
`4,026,262`|`203`
`363`
`-`
`-`
`1,100`
`-`
`360`
`14,021`
`-`
`16,047`
`465,679`|`-`
`-`
`-`
`-`
`(1,200)`
`(12,717)`
`(12,438)`
`(101,083)`
`-`
`(127,438)`
`(547,459)`|`1,993`
`3,573`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`5,566`
`47,646`|`49,057`
`87,920`
`15,372`
`60,801`
`109,783`
`1,547,454`
`(12,078)`
`1,058,007`
`7,543`
`2,923,859`
`3,992,128`|
|---|---|---|---|---|---|
## **`20. Analysis of net assets between funds`**
## **`Analysis of net assets between funds - current year`**
|`Tangible fixed assets`
`Fixed asset investments`
`Current assets`
`Creditors due within one year`
`Provisions for liabilities and charges`
**`Total`**|`Restricted`
`funds`
`2022`
`£`
`2,224,022`
`98,435`
`940,349`
`-`
`-`
`3,262,806`|`Unrestricted`
`funds`
`2022`
`£`
`25,397`
`945,983`
`480,651`
`(408,121)`
`(31,882)`
`1,012,028`|`Total`
`funds`
`2022`
`£`
`2,249,419`
`1,044,418`
`1,421,000`
`(408,121)`
`(31,882)`|
|---|---|---|---|
||||`4,274,834`|
```
Page 40
```
```
NORTH WESTERN REFORM SYNAGOGUE
(A Company Limited by Guarantee)
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`20. Analysis of net assets between funds (continued)`**
## **`Analysis of net assets between funds - prior year`**
|`Tangible fixed assets`
`Fixed asset investments`
`Current assets`
`Creditors due within one year`
`Provisions for liabilities and charges`
**`Total`**|`Restricted`
`funds`
`2021`
`£`
`1,549,845`
`549,023`
`824,991`
`-`
`-`
`2,923,859`|`Unrestricted`
`funds`
`2021`
`£`
`36,931`
`570,993`
`722,327`
`(206,764)`
`(55,218)`
`1,068,269`|`Total`
`funds`
`2021`
`£`
`1,586,776`
`1,120,016`
`1,547,318`
`(206,764)`
`(55,218)`
`3,992,128`|
|---|---|---|---|
## **`21. Reconciliation of net movement in funds to net cash flow from operating activities`**
|`Net income for the year (as per Statement of Financial Activities)`
**`Adjustments for:`**
`Depreciation charges`
`Gains/(losses) on investments`
`Dividends, interests and rents from investments`
`Investment management fees paid from portfolio`
`Decrease/(increase) in debtors`
`Increase/(decrease) in creditors`
`Decrease in provisions`
`Transfer of assets from unincorporated charity`
**`Net cash provided by/(used in) operating activities`**|`2022`
`£`
`282,706`
`71,362`
`88,077`
`(22,942)`
`10,464`
`25,572`
`201,438`
`(23,336)`
`-`
`633,341`|`3 months`
`ended`
`31 August`
`2021`
`£`
`3,992,128`
`17,852`
`(47,646)`
`(4,842)`
`2,613`
`(1,699)`
`(8,038)`
`(2,070)`
`(3,976,262)`
`(27,964)`|
|---|---|---|
```
Page 41
```
```
(A Company Limited by Guarantee)
```
## **`NORTH WESTERN REFORM SYNAGOGUE`**
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022`**
## **`22. Analysis of cash and cash equivalents`**
||`2022`|`2021`|
|---|---|---|
||`£`|`£`|
|`Cash at bank and in hand`|`1,223,137`|`1,323,802`|
|`Cash held by investment managers (note 15)`|`10,606`|`79,639`|
## **`23. Analysis of changes in net debt`**
||`At 1`|||
|---|---|---|---|
||`September`||`At 31 August`|
||`2021`|`Cash flows`|`2022`|
||`£`|`£`|`£`|
|`Cash at bank and in hand`|`1,323,802`|`(100,665)`|`1,223,137`|
## **`24. Pension commitments`**
```
The charity operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the charity in an independently administered fund. The pension cost charge
represents contributions payable by the charity to the fund and amounted to £58,136 (2021: £13,754). At
the reporting date, amounts payable to the fund outstanding were £8,065 (2021: £5,135).
```
## **`25. Other financial commitments`**
```
The charity is currently in negotiations in order to finance a major refurbishment of the synagogue it
resides in. Although the charity fully intends to complete the renovation project, and has already began
minor works, as at the date of approval of these financial statements, the charity has not yet contractually
committed to any finance agreement or building works.
```
```
Page 42
```