REGISTERED CHARITY NUMBER: 1187313
Z.A.I. SYNAGOGUE (CIO)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
Z.A.I. SYNAGOGUE (CIO)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Statement of Financial Position | 6 | |
| Notes to the Financial Statements | 7 to | 9 |
Z.A.I. SYNAGOGUE (CIO)
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JANUARY 2023
TRUSTEES G Sinitsky M De Jong R E Hochhauser PRINCIPAL ADDRESS 95 Stamford Hill London N16 5DN REGISTERED CHARITY 1187313 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Barclays Bank plc 240 Whitechapel Road London E1 1BJ
Page 1
Z.A.I. SYNAGOGUE (CIO)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity are the advancement of the Jewish faith and supporting and managing a synagogue. The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased with the results of the year. During the year prayer services took place on Sabbaths and Festivals. Projects celebrating and advancing the Orthodox Jewish Religion were held. Lectures were given and provision made for self study.
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 £53,778 (2022 - £62,174).
FUTURE PLANS
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted a CIO - Foundation registered 13 January 2020.
Organisational structure
The day-to-day affairs of the company are administered by the trustees. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 2
Z.A.I. SYNAGOGUE (CIO)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.
Approved by order of the board of trustees on 12 October 2023 and signed on its behalf by:
R E Hochhauser - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Z.A.I. SYNAGOGUE (CIO)
Independent examiner's report to the trustees of Z.A.I. Synagogue (CIO)
I report to the charity trustees on my examination of the accounts of Z.A.I. Synagogue (CIO) (the Trust) for the year ended 31 January 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
12 October 2023
Page 4
Z.A.I. SYNAGOGUE (CIO)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 135,409 EXPENDITURE ON Charitable activities 2 Synagogue expenditure 123,315 Grantmaking 19,390 Support 1,100 Total 143,805 NET INCOME/(EXPENDITURE) (8,396) RECONCILIATION OF FUNDS Total funds brought forward 62,174 TOTAL FUNDS CARRIED FORWARD 53,778 |
2022 Total funds £ 133,613 |
|---|---|
| 94,624 16,500 900 |
|
| 112,024 | |
| 21,589 40,585 |
|
| 62,174 |
The notes form part of these financial statements
Page 5
Z.A.I. SYNAGOGUE (CIO)
STATEMENT OF FINANCIAL POSITION 31 JANUARY 2023
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 Total funds £ 54,678 (900) 53,778 53,778 53,778 53,778 53,778 |
2022 Total funds £ 63,074 (900) 62,174 62,174 62,174 62,174 62,174 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 October 2023 and were signed on its behalf by:
R E Hochhauser - Trustee
The notes form part of these financial statements
Page 6
Z.A.I. SYNAGOGUE (CIO)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. Income received by way of donations is accounted for when received.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Synagogue expenditure Grantmaking Support |
Direct Costs (see note 3) £ 123,315 - - 123,315 |
Grant funding of activities (see note 4) £ - 19,390 - 19,390 |
Support costs (see note 5) £ - - 1,100 1,100 |
Totals £ 123,315 19,390 1,100 |
|---|---|---|---|---|
| 143,805 |
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Z.A.I. SYNAGOGUE (CIO)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
3. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Synagogue events and programmes Synagogue upkeep 4. GRANTS PAYABLE Grantmaking The total grants paid to institutions during the year was as follows: Advancement of education Advancement of religion Relief of poverty Socila welfare Start Upright College for Higher Rabbinical Studies Chasdei Aharon Others under £3,3,00 |
2023 £ 93,282 30,033 123,315 2023 £ 19,390 2023 £ 8,700 - 6,690 4,000 19,390 4,000 3,800 3,600 7,990 19,390 |
2022 £ 72,841 21,783 |
|
|---|---|---|---|
| 94,624 | |||
| 2022 £ 16,500 |
|||
| 2022 £ - 16,500 - - |
|||
| 16,500 | |||
5. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Support | 1,100 |
Support costs, included in the above, are as follows:
Governance costs
| Governance costs | ||
|---|---|---|
| 2023 | 2022 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 300 | 300 |
| Independent examiner's other fees | 600 | 600 |
| General expenses | 200 | - |
| 1,100 | 900 |
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Z.A.I. SYNAGOGUE (CIO)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other creditors | 900 | 900 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2023.
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