REGISTERED CHARITY NUMBER: 1188843
Nottingham Hebrew Congregation
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023
Brooks Mayfield Limited Chartered Accountants 12 Bridgford Road West Bridgford Nottinghamshire NG2 6AB
Nottingham Hebrew Congregation
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
Nottingham Hebrew Congregation
Report of the Trustees for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The key objective of the Charity continues to be to perpetuate the existence of the Nottingham Hebrew Congregation as an orthodox Jewish community. The assets and annual revenues are primarily used to cover the cost of running services, communal events, the buildings, and the staff and providing pastoral care including births, rituals, and religious ceremonies e.g. bar-mitzvahs, bat-mitzvahs, marriages, and deaths. To that end the Trustees and officials give their time voluntarily to ensure that the buildings, cemeteries, and artefacts are maintained to a reasonable standard and to ensure that religious services are held as appropriate.
Public benefit
In setting the objectives of the settlement and planning its activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Religious services continue to be held in accordance with the traditions of Orthodox Judaism and on a regular weekly basis. They are held on Shabbat (Saturdays) and Sunday mornings, together with High Holy Days, attended by members, visitors, and students. Services are usually followed by a Kiddush (prayer over wine) and refreshments or breakfast. These are sometimes sponsored to celebrate a special occasion. We are indebted to Rabbi Lent and all those who organised and attended the services and those that organise refreshments.
Our grateful thanks also go to Mrs Brocha Lent and all those who generously gave their valuable time to arrange and organise the many social events that took place throughout the year.
The Trustees are especially indebted to Mrs Gail Samson who continues to provide unerring support as Treasurer and advisor to the Trustees and to Joanne Goldszmit for her work as Administrator.
We also appreciate the behind the scenes work that continues to be carried out by dedicated members in such matters as bereavement, synagogue and cemetery maintenance, security, and Board of Deputies Representative.
No major expenditure was incurred on Hatikvah and expenditure on Sherwood St and Hardy St cemeteries was limited to routine maintenance.
FINANCIAL REVIEW
Investment policy and objectives
Our investment advisors remain as Barclays Wealth Management adopting a low-risk strategy. Performance is satisfactory and in line with expectation given financial market performance during the year.
Reserves policy
The charity holds large reserves due to several reasons, including but not limited to; -
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A long-term unquantifiable obligation to maintain 3 cemeteries in Nottingham.
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A long-term requirement to maintain facilities for practicing orthodox Judaism in the region, as NHC is not underpinned by a central, national, or international funding resource.
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A requirement to maintain religious artifacts in good condition, according to the Jewish faith.
Page 1
Nottingham Hebrew Congregation
Report of the Trustees
for the Year Ended 31 December 2023
FUTURE PLANS
Membership is fairly stable, and we are fortunate in having been joined by a few new members. Age distribution however is inclined towards senior citizens, and this eventually will impact on membership levels and participation in services and events. Nottingham has a high number of Jewish students at the two universities and a considerable number of these participate in synagogue services and other events. This results, in particular, to very well attended synagogue services.
NHC is well funded, so the financial future is secure, but challenges face an ageing community.
The Trustees and Management Team have benefited from the unerring support of Rabbi and Brocha Lent, but the future is dependent on the support of members. As asked in previous years, if any member would like to help maintain an active, enthusiastic, and harmonious community, or have ideas as to how we can do things better, with the resources we have, we would love to hear from them.
In the meantime, we will continue to provide the facilities necessary to practice orthodox Judaism, with processes that protect the charity's assets and scrutinise best value.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Nottingham Hebrew Congregation is a registered Charity governed by an Association model CIO. It was established to uphold the principles and maintain the facilities for worship and religious observance in accordance with the beliefs of Orthodox Judaism and under the supervision and control of the Court of the Chief Rabbi.
Trustees are appointed by the General Meeting of the Congregation, from amongst its membership and in accordance with the terms of the Constitution. The government and business affairs of the Charity are controlled by a Management Team in accordance with the Constitution.
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate these risks.
To the best of our knowledge; -
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There have been no actual frauds or suspected frauds in the year.
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The Charity is considered a going concern for at least 12 months from the date of the signing of the
-
accounts.
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Fund allocation has been done correctly.
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There have been no transactions (other than subs and reimbursed expenses) between the charity and the
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trustees.
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There are no related parties (spouses, family, businesses) that have material transactions (more than £100) with the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1188843
Principal address
Hatikvah Synagogue Highurst Street Nottingham Nottinghamshire NG7 3QA
Trustees
C Kofler (resigned 31.7.23) S Cohen (resigned 31.7.23) R S Resnick F Miller R Christie (appointed 16.7.23) N Pike (appointed 16.7.23)
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Nottingham Hebrew Congregation
Report of the Trustees for the Year Ended 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner William Oates BA FCA Brooks Mayfield Limited Chartered Accountants 12 Bridgford Road West Bridgford Nottinghamshire NG2 6AB
Approved by order of the board of trustees on 18 April 2024 and signed on its behalf by:
R S Resnick - Trustee
Page 3
Independent Examiner's Report to the Trustees of Nottingham Hebrew Congregation
Independent examiner's report to the trustees of Nottingham Hebrew Congregation
I report to the charity trustees on my examination of the accounts of Nottingham Hebrew Congregation (the Trust) for the year ended 31 December 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 2. 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.
William Oates BA FCA
Brooks Mayfield Limited Chartered Accountants 12 Bridgford Road West Bridgford Nottinghamshire NG2 6AB
18 April 2024
Page 4
Nottingham Hebrew Congregation
Statement of Financial Activities
for the Year Ended 31 December 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Charitable activities General Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 58,482 36,011 42,605 266 137,364 54,734 66,558 121,292 73,636 89,708 1,742,330 1,832,038 |
Restricted funds £ - 2,620 - - 2,620 3,642 - 3,642 - (1,022) 1,022 - |
31.12.23 Total funds £ 58,482 38,631 42,605 266 139,984 58,376 66,558 124,934 73,636 88,686 1,743,352 1,832,038 |
31.12.22 Total funds £ 51,092 15,268 32,297 80,430 179,087 61,316 64,396 125,712 (122,964) (69,589) 1,812,941 1,743,352 |
|---|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
Nottingham Hebrew Congregation
Statement of Financial Position 31 December 2023
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 201,486 1,300,396 1,501,882 7,399 330,830 338,229 (8,073) 330,156 1,832,038 1,832,038 |
Restricted funds £ - - - - - - - - - - |
31.12.23 Total funds £ 201,486 1,300,396 1,501,882 7,399 330,830 338,229 (8,073) 330,156 1,832,038 1,832,038 1,832,038 - 1,832,038 |
31.12.22 Total funds £ 202,971 1,230,342 1,433,313 12,480 305,640 318,120 (8,081) 310,039 1,743,352 1,743,352 1,742,330 1,022 1,743,352 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18 April 2024 and were signed on its behalf by:
F Miller - Trustee
R S Resnick - Trustee
The notes form part of these financial statements
Page 6
Nottingham Hebrew Congregation
Notes to the Financial Statements for the Year Ended 31 December 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Plant and machinery - 25% on reducing balance
No depreciation charge has been provided in the year on property as the Trustees believe that the freehold property is stated at its current open market valuation.
Donated assets
Land and religious artefacts that have been donated to the congregation do not have a historic cost. As there is no present intention to dispose of these articles and due to the intrinsic difficulty in assigning a market value, no adjustment is made to the balance sheet to reflect their potential value, because of their singular nature and given their true worth would only be realised on sale.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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continued...
Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
3.
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Funeral charges | 33,405 | 10,685 |
| Board of Deputies income | 1,560 | 1,740 |
| Kol Nidre income | 1,060 | 1,281 |
| Events | 1,826 | 392 |
| Stone setting | 780 | 1,170 |
| 38,631 | 15,268 | |
| INVESTMENT INCOME | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Listed investment income | 42,605 | 32,297 |
Investment management charges in the year to 31 December 2023 were £3,983 (2022 - £3,313)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Other income Total EXPENDITURE ON Charitable activities General Other Total |
Unrestricted fund £ 51,092 12,247 32,297 80,430 176,066 56,826 64,396 121,222 |
Restricted funds £ - 3,021 - - 3,021 4,490 - 4,490 |
Total funds £ 51,092 15,268 32,297 80,430 |
|---|---|---|---|
| 179,087 | |||
| 61,316 64,396 |
|||
| 125,712 |
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Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted fund £ Net gains/(losses) on investments (122,964) NET INCOME/(EXPENDITURE) (68,120) RECONCILIATION OF FUNDS Total funds brought forward 1,810,450 TOTAL FUNDS CARRIED FORWARD 1,742,330 6. TANGIBLE FIXED ASSETS Freehold property £ COST OR VALUATION At 1 January 2023 and 31 December 2023 200,000 DEPRECIATION At 1 January 2023 - Charge for year - At 31 December 2023 - NET BOOK VALUE At 31 December 2023 200,000 At 31 December 2022 200,000 Cost or valuation at 31 December 2023 is represented by: Freehold property £ Cost 200,000 |
continued Restricted funds £ - (1,469) 2,491 1,022 Plant and machinery £ 5,941 2,970 1,485 4,455 1,486 2,971 Plant and machinery £ 5,941 |
Total funds £ (122,964) (69,589) 1,812,941 1,743,352 Totals £ 205,941 2,970 1,485 4,455 201,486 202,971 Totals £ 205,941 |
|
|---|---|---|---|
All tangible fixed assets were transferred from the predecessor Charity on 1 January 2021 at their open market value. The trustees do not believe there has been a material movement in the value of freehold property since this date.
All assets are used for charitable purposes and all properties are owned 100% by the charity.
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Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
7. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2023 Disposals Revaluations At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Listed investments £ 1,230,342 (3,582) 73,636 1,300,396 1,300,396 1,230,342 |
|---|---|
There were no investment assets outside the UK.
The Nottingham Hebrew Congregation investment portfolio is held at Barclays via the Barclays Charity Fund R distribution and is stated at market value.
Cost or valuation at 31 December 2023 is represented by:
| Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Other debtors 5,930 Prepayments 1,469 7,399 |
Listed investment £ 107,554 (122,963) 73,636 1,242,169 1,300,396 31.12.22 £ 11,131 1,349 12,480 |
|---|---|
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Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 488 | 757 |
| Taxation and social security | - | 28 |
| Other creditors | 7,585 | 7,296 |
| 8,073 | 8,081 |
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Unrestricted funds General fund Restricted funds Board of deputies Kol Nidre TOTAL FUNDS |
At 1.1.23 £ 1,742,330 30 992 1,022 1,743,352 |
Net movement in funds £ 89,708 (30) (992) (1,022) 88,686 |
At 31.12.23 £ 1,832,038 - - |
| - | |||
| 1,832,038 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Board of deputies Kol Nidre TOTAL FUNDS |
Incoming resources £ 137,364 1,560 1,060 2,620 139,984 |
Resources expended £ (121,292) (1,590) (2,052) (3,642) (124,934) |
Gains and Movement losses in funds £ £ 73,636 89,708 - (30) - (992) - (1,022) 73,636 88,686 |
|---|---|---|---|
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continued...
Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Board of deputies Kol Nidre TOTAL FUNDS |
At 1.1.22 £ 1,810,450 - 2,491 2,491 1,812,941 |
Net movement in funds £ (68,120) 30 (1,499) (1,469) (69,589) |
At 31.12.22 £ 1,742,330 30 992 1,022 1,743,352 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Board of deputies Kol Nidre TOTAL FUNDS |
Incoming resources £ 176,066 1,740 1,281 3,021 179,087 |
Resources expended £ (121,222) (1,710) (2,780) (4,490) (125,712) |
Gains and Movemen losses in funds £ £ (122,964) (68,120) - 30 - (1,499) - (1,469) (122,964) (69,589) |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Kol Nidre TOTAL FUNDS |
At 1.1.22 £ 1,810,450 2,491 1,812,941 |
Net movement in funds £ 21,588 (2,491) 19,097 |
At 31.12.23 £ 1,832,038 - 1,832,038 |
|---|---|---|---|
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Nottingham Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Board of deputies Kol Nidre TOTAL FUNDS |
Incoming resources £ 313,430 3,300 2,341 5,641 319,071 |
Resources expended £ (242,514) (3,300) (4,832) (8,132) (250,646) |
Gains and Movement losses in funds £ £ (49,328) 21,588 - - - (2,491) - (2,491) (49,328) 19,097 |
|---|---|---|---|
Purposes of unrestricted funds
Unrestricted funds are used to provide facilities for worship and religious observance in accordance with the principles of Orthodox Judaism.
Purposes of restricted funds
Kol Nidre Appeal - Appeals are made for donations which are subsequently donated to Israeli, National and Local Charities, from time to time part of the monies raised are retained for any significant internal expenditure,
Board of Deputies Fund - A voluntary levy is collected from the congregation members and subsequently donated to the Board of Deputies of British Jews.
11. RELATED PARTY DISCLOSURES
There was no key management personnel remuneration during the year ended 31st December 2023 (2022 - £nil).
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Nottingham Hebrew Congregation
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Subscriptions | 29,870 | 30,832 |
| Donations | 5,487 | 7,062 |
| Gift aid | 18,145 | 6,610 |
| Security grants | 4,980 | 6,588 |
| 58,482 | 51,092 | |
| Other trading activities | ||
| Funeral charges | 33,405 | 10,685 |
| Board of Deputies income | 1,560 | 1,740 |
| Kol Nidre income | 1,060 | 1,281 |
| Events | 1,826 | 392 |
| Stone setting | 780 | 1,170 |
| 38,631 | 15,268 | |
| Investment income | ||
| Listed investment income | 42,605 | 32,297 |
| Other income | ||
| Gain on sale of property | - | 57,500 |
| Gain on sale of investments | 266 | 168 |
| Compensation | - | 22,762 |
| 266 | 80,430 | |
| Total incoming resources | 139,984 | 179,087 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rabbinical donations | 36,076 | 36,477 |
| Charitable donations | 5,438 | 4,490 |
| 41,514 | 40,967 | |
| Other | ||
| Wages | 13,750 | 12,013 |
| Funeral costs | 10,521 | 6,397 |
| Cemetery expenses | 9,909 | 8,251 |
| Light and heat | 3,677 | 1,862 |
| Repairs and restorations | 2,455 | 8,753 |
| Insurance | 4,713 | 4,126 |
| Cleaning | 319 | 644 |
| Security costs | 5,515 | 5,261 |
| General congregation expenses | 3,591 | 3,351 |
| Carried forward | 54,450 | 50,658 |
This page does not form part of the statutory financial statements
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Nottingham Hebrew Congregation
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Other | ||
| Brought forward | 54,450 | 50,658 |
| 224 Mansfield Road costs | - | 5,295 |
| Events and kitchen | 9,011 | 5,638 |
| Postage and stationery | 889 | 770 |
| Telephone | 723 | 550 |
| Depreciation of tangible fixed assets | 1,485 | 1,485 |
| 66,558 | 64,396 | |
| Support costs | ||
| Governance costs | ||
| Audit and accountancy | 3,645 | 3,465 |
| Investment management charges | 3,983 | 3,313 |
| Legal and professional fees | 9,234 | 13,571 |
| 16,862 | 20,349 | |
| Total resources expended | 124,934 | 125,712 |
| Net income before gains and losses | 15,050 | 53,375 |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset | ||
| investments | 73,636 | (122,964) |
| Net income/(expenditure) | 88,686 | (69,589) |
This page does not form part of the statutory financial statements
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