Chaiity number: 1188960
MAKOR HAYIM
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

MAKOR HAYIM
CONTENTS
Page
Refgfgncg and administrative delalls of the charlty, Its Trustees and advisers
Trusle•s' report
Trust•ès' responsibilitles statement
Indgpgndent examinerfs rèport
Statement ol financlal 4ctlvltle•
BalAn¢tr shoet
Notes to the financlal 8tatèments
10-17

MAKOR HAYIM
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 310ECEMBER 2024
Trustees
Martin Dives. Chair Iresign8d 1 January 20251
Natalie Clingman, Chair (appointed 8 September 20241
Rachel Di8mond-Hunter
Samuel Glalman (resigned 25 April 20241
Dr Sta¢y Lee Hackner lappoinled 8 September 2024)
Daniel Mackintosh (resigned 7 March 20251
Neil Benjamin Nerva (appointed 13 February 20241
Marco Schneebalg
Daniel Wemberg lappoinled 8 September 20241
Charity rogistered
numbar
1188960
Prlnclpal office
56 Milverton Road
London
NW6 7AP
A¢countants
Nyman Lib50n Paul LLP
Chartered Accovniant5
124 Finchley Road
London
NW3 5JS
Page I

MAKOR HAYIM
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of Makor Hawm for the year
ended 31 DecembeT 2024, the new year end we have chosen to align with our fees annual calendar. As
described in last year's reFK)rt, we continued with the transfer of the aclivibes from Shir Haw'm lo Makor Hawm.
Objectlves and activities
a. Pollclos and objectives
Advancement of Judaism in the north west London area by the provi&on and malntenance of facilities for publlc
worship and the provision of classes in Hebr8w and religion.
To advance such other charitable purposes as the trusl6es may delemiine and a5 are recognised by the laws of
England and Wales.
In setting objectives and planning for aclivilies, the Trustees have given due consideration to general guidan¢e
published by the Charity Commission relating to public benefit. including the guidance 'Public benefit-. running a
charity IPB21
Achlev8ments and pèrformancg
Review of actlvltlè•
2024 has been a transitional year in the history of Makor Hayim with significant changes lo our membership,
rabbinical team and board of Iruslees.
As of 31 D8cembgr 2024, we had a total 01 149 builders and allies 12023: 1651- We continue to be a proudly
inlergeneralional synagogue with 41 of OUT builders being under the age of elghl. In thè year we welcomed S
new households into the community and celebrated the birth of 8 babies. 19 builders and allies left the
community- primarily due to moving out of North Wesl London - and we are sory to see them leave.
In 2024, Makor Hawm continued to OTganise prayer services, leaming sessions and olhor events. We hosted In-
person h￿r1d seNices twice a month, and online So￿1GeS every week. Our monthly intergenerational service
has been a gieal success wilh ¢ommunily members of all ages, with small children welcomed and included i
ritual life,
Our founding rabbi, Daniel Lichman, left the community Sn June to undertakg a pilgrim8ge and pursue a PhD.
We were joined by Student Rabbi Yael Tischler in Seplembar who look up a placement al Makor Hayim as part
of her fourth year of rabbinical training at Leo Baeck College. She providgs service leadership. guidance on
lyadilions, and play3 an active role in our comm*Jnity, including incorporating more intergeneralional ideas and
work on disability #C￿sS and inclvsion, and continues Rabbi Daniol's Work of compassionate and inclusive
interp¥etalions of our liturgy.
The che5ed Ikindnessl team continue¢J to Teach out to members with regular phone calls of support and visits in
person. Our tsedek (i'usticel team continued to seek opportunities for fighting for social justice in our local
community. We participated in many local Inlerfailh inilialives through the Bfenl Interfaith Forum, hosted
interfaith festivals (Mimovna and Hanukah). and attended a local intertaith Ramadan dinner.
In accordance with Charity Commission Trquiremenls and guidelines and our own seleclion criteria, we chose a
charity to support in our annual appeals. We are proud to support Sufra, a charity in North West London that
prevents hunger. fights poverty, and builds community.
We continue lo pay tribute to the founders of Shlr Hayirn more than 30 years ago. These include Mich8el and
Gay Teper, Lois George, and the long-serving Rabbi Larry Tabick. all of whom are Builders of Makor Hawm,.
and lo the late Pal Foti and the late Roger Robinson, who passed away in 2024. Their vision, hard work,
generosity and unwavering commitment lo Community building have left a wonderfu5 legacy that the Builders of
Makor
Hawm,
the
successor
organisation.
continue
to
appr8ciale
and lo
build
on.
Page 2

MAKOR HAYIM
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Al the end of December 2024. our long serving chair, hnartin Dives, stepped down from the board of Makor
Hayim. He was a devoted leader of our community with unfailing generosity, commitment and care. His
cornmitmenls lo truth, justice. and peace conlinue lo be a source of guidance to the board and the aclivilie5 of
the community. We thank Martin and Lorella Dives for their years of service and everything they continue to do
for the comm4Jnity.
Other ¢h8nges to the b03rd include the appointment of four new Trustees (Daniel Wemberg. Neil Nerva, Stacy
Hackner, and Natalie Clingmanl and the resignation of one in the year Isam Glalman) and one in 2025 (Daniel
Mackintoshl.
The board continues to place a focus on growing Ihe buildership of the community and we have embarked on a
largeled growth strategy lo promote our vibrant and diverse services to Ihe wider community. This has included
an overhaul of our communications and a new visual idenlily. We are launching an exciting children's
educational programme, with community challah baking and childien's services. We are updating our policies.
lo ￿rnent our beliefs 8boul access and inclusion in ways that meet the needs of our Progressive, forward-
thinking. and radically relation81 community.
Flnanclal rgvlew
a. Golng concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they ¢ontinue to adopt
the goin9 concern basis in preparing the financial slatemenls.
b. Reserveg pollcy
The charity are seeking to ensure thal going fO￿ard reserves held are equivalent lo al least 8 months operating
expenses lo ensure that in the event of any unforeseen circumstances, il has sufficient financial resources lo
ontinue.
ReseNes held a131 December 2024 were £36,35812023'. £50,143).
c. Prlnclpal fundlng
Principal 50ur¢es of funds are membeTS fees and donations.
d. Rgaults for the year
The charity genèrated incoming resources of £100,836 12023= £56,290) and expenses of £114,621 12023..
£15,380) re5ulling in a nel loss of £13,78512023'. nel surplus of £40.9101 for the year. As al the balancè sheèt
dalg,
the
charity
held
tr)lal
unrestricted
funds
of
£36,358
12023..
£50,143).
Page 3

MAKOR HAYIM
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
StruGturei governance and management
a. Constitutlon
Makor Hayim is a charity. consliluted as a Charitable Incorporated Organisation {CIOI, charity number 1188960.
b. Mèthods of appolntment or electlon of Trustees
The management of the charity is the responsibility of the Trustees who are elected 81 the annual general
meeting of members and by appointment by the Injstees during the year.
Approved by order of the members of the board of Tru51ees on 21 October 2025 and signed on their behalf by..
Natalio Cllngman
(Trusleel
Page 4

MAKOR HAYIM
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The TTUSlees 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
Praclicel.
The law applicable to charities in England & Wales requires the Trustees to prepare financial slalemenls for
each financial which give a true and fair view of the stale of affairs of the charity and of ils incoming resources
and application of resources, including ils income and expenditure. for that period. In preparing thes6 financial
slalemenls, the Tfuslees are required lo:
select suitable accounting policies and then apply them consislentty..
observe the methods and principles of the Charities SORP IFRS 1021..
make judgments and accounting estimates thèl are ￿asOnable and prudent:
slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any
material departures disclosed and explained in the financial s18lemenls",
prepare the financial statements on the going ¢oncem basis unless il is inappropriate lo presume that the
charity will conlinuè in business.
The Trustees are responsible for keeping adequate Jccounting record5 that are sufficient lo show and explain
the charitys Iransactions and disclose with reasonable accuracy at any time the financial position of the chaTIIy
and enable them lo ensure that the finanual statements comply wllh the Charities Act 2011, the Charity
(Accounts and Reportsl Regulations 2008 and the provisions of the Trust deed, They are also responsible for
Safeguarding the assets of the charity and hence for takin9 reasonable steps lor the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board ol Ttustees on 21 October 2025 and signed on its behalf by-.
Natalle Cllngman
(Trusleel
Page 5

MAKOR HAYIM
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Indepgndent Exarninovs Report to the Trustees of Makor Hayim {Ihe charit￿)
report lo the charity Trustees on My examination of the accounts of the charity for the year ended 31
December 2024.
Responsibllities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Acl 2011 Ilhe 2011 Acl'l.
I report in respèct of my examination of the charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145151{bl of the 2011 Act.
Ind8p8ndont Exarnlnèr'i Statement
Your attention is drawn to the fact that the charity has prepared the accDunts in accordance with Accounting and
Reporting by Chaiilies.. Stslemenl of Recommended Practice applicable lo ch8rilies preparing Ihoir accounts in
accordance with the Financial Reports'ng Standard applicable in the UK and Republic ol Ireland IFRS 102} in
preference to the Accounting and Reportin9 by Charities.. Sialemenl ol Recommended Practice issued on 1
April 2005 which is relerred lo irs the extant regulatson5 bul has been withdrawn.
l understand thal this has been don8 in order for th8 accounts to provide a ITU8 and fair viow in aceordanea with
the G8nerally Accepted Accounting Practice effectivo for reporting poriod5 beginning on or after 1 January
2015.
I have completed my examination. I confirm Ihal no matters have come lo my attention in conngclion with tha
examination giving me cause lo believe that in 8ny material respecl..
accounting recoTd5 werg not kgpl in respect of the charity as required by section 130 of the 2011 Act., or
Ihe ac¢ounts do not accord with those records., or
the accounls do not comply wih the applicable rèquirements conceming the form and conlent of
accounts set out in Ihe Charities IAccounls and Reports) Regulations 2008 olher than any requirgment
that the accounts give a 'lrue and lair, view which is not a matter considered as part of an independonl
examination.
I h8ve no concems and have come across no other mattets in connection with the examination lo which
allenlion should bo drawn in this report in order lo enable a proper understsnding of the accounts lo be
reached.
Page 6

## **MAKORHAYIM** 

## INDEPENDENT EXAMINER'S REPORT **(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** 

This report is made **solely** to the **charity's Trustees,** as a **body,** in accordance with Part 4 of the Charities {Accounts and **Reports) Regulations** 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am **required** to state to them in an **independent** examiner's **report** and for no other purpose. To the fullest extent **permitted by law,** I do not **accept** or assume **responsibility** to anyone other than the **charity** and the **charity's** Trustees as a **body,** for my work or for this **report.** 

## **Signed:[� ]** 

Dated: 28 October 2025 

Andrew Thomas **(ACA)** 

**Nyman** Libson Paul LLP Chartered Accountants 124 **Finchley** Road London NW3 5JS 

**Page** 7 



MAKOR HAYIM
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENOED 31 DECEMBER 2024
Total
funds
9 months
ended
31 Decembei 31 December 31 December
2024
2024
2023
Unrestricted
funds
Total
fvnds
Note
Income from..
Donations anf1 legacies
Investments
100,359
477
100,359
477
56,290
Total Income
100,836
100,836
56,290
Expenditure on..
Charitable activities
114.621
114.821
15.380
Total expendlture
114,621
114,621
15,380
Net movement In funds
113,7851
113,7851
40,910
Reconciliation of funds..
Total funds brought fofward
Nel movement in funds
50,143
113,7851
50,143
113,7851
9,233
40.910
Total funds ¢arrlgd forward
36.358
36,358
50.143
The Statement of Financial Activities includes all gain5 and losses recognised in tho y8ar.
The notes on pages 10 to 17 lorm part of these financial slalements.
Page 8

MAKOR HAYIM
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Currant assets
Debtors
Cash 81 bank and in hand
3,093
50,011
37,471
19,292
53.104
56,763
Creditors.. amounts falling due wilh5n one
year
10
116,746)
16,6201
Ngt curront a$soty
36,358
50,143
Total net assets
36,358
50,143
Charlty fund8
Reslricled funds
Unrestricled lunds
11
36.358
50,143
Total funds
36,358
50,143
Tho finan¢lal statements were approved and aulhorised for issue by the Trustees on 21 October 2025 and
signed on their behalf by..
Natallg Cllngman
(Trusleel
Thg note5 on pages 10 10 17 form part of these finanaal statements.
Page 9

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
Makor Hawm is an unincorporated charity registered in England and Wales. The registered office is 56
Milverton Road. London, NW6 7AP.
Ac¢ounting policlèa
2.1 Bas18 of preparatlon of Ilnanclal statements
The financial statements have been prepared in accordance with the Charrties SORP IFRS 102} -
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ch8rilie$
preparing Iheir accounts in accordance with the Flnancial Reporting Stsndard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial 51alements have been prepared lo give a Irue and fair, view and have departed frorn
the Charities IAccoun15 and Reports) Regulations 2008 only lo the extent required to provide a Xrue
and fairt view, This departure has involved following the Chariiles SORP IFRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities.. Stalement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
akor Hayim meets the definition of a public benefll entity Ltnder FRS 102. Ass8ls and Ilabililies are
inllially recognised at historical c051 or Ifansaclion value unless otherwise staled In the relevant
accounting policy.
2.2 Income
All income is re¢ognised once the charity has enlillement to the income. il is probable Ihal the
in¢ome will be received and the amount of income re¢elvable Gan be measured reliably.
Grants are in¢ludod in the slatemenl of financial activities on a receivable basls. The balance of
income received for specific purposes but not expended dvring the period is shown in Ihg relevant
Iunds on the balance sheet. Where income is received in advance ol enlillernenl of rec8lPt, its
recognition is deferred and included in creditors as deferred in￿me. Wh8r¢ enlitlgmenl occurs
belore income is received, the income is accrue(J.
Income tax recoverable in Telalion to donations received under Gift Aid or deeds of covenant is
recognised at ttte lime of the donation.
2.3 Expendlture
Expenditure is fecognised once there is a legal or conslruclive obligation to transfer economic
benefit lo a thlrd p8ty, it is probable that 8 Iransfer 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 lotsl of dired costs 8nd shared costs,
ineluding SL5PPOrt costs involved in undertaking each activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which fltrther the
charills objectives. as well as any associated support Costs.
Page 10

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles Icontlnued)
2.4 Interg$t recelvable
Interest on funds held on deposll is included when receivable and the amount can be measured
reliably by the charity., thi5 is normally upon nolificalion of the interest paid or paydble by the
inslilution wth whom the funds are deposited.
2.5 Debtors
Trade and other debtors are recogni$ed at the settlement amount after any trade discount offered.
Prepayments are valued at the amounl prep8id net of any Ir8de discounts due.
2.6 Cash at bank and In hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short
maturity of three months or less from the date of a¢quis11ion or opening of the deposit or similar
account.
2.7 Llabilitles and PTovl$lon8
Liabilities are recognised when there is an obligation at the balance sheet dale 85 a result ol a past
event, il is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement Gan be estimated reliably.
Liabilities are recognised al the amount that the charity anlicipales it will pay lo sollle the debt or th8
amount it has receiveLI as advanced payrnenls for the goods or seNices il musl provide.
2.8 Flnanclal Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised 8t ITansaelion value and
subsoquently measured al their settlement value with the exception of bank loan$ which are
subsoquently measured at amortised cost using the effectNe interest molhtyj.
2.9 P8nslon8
The charity operal&s a defined contribution pensior¢ scheme and the pension charye represents the
amounts payable by the charity to the fund in respect of the year.
2.10 Fund accounting
General funds are unrestiicted funds whith are available for use al the discretion of the Tnjslees in
futherance of the general objectives of the charity 8nd whith have nol been designated for other
purposes.
Designated funds comprise unreslricled funds that have been sel aside by the Trvstees for
parbcular purposes. The aim and use tsf each designated fund is sel ovl in the notes lo the financial
statements.
Investment income, g8ins and losses are allocated to the appropriate fund.
Page11

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income Irom donations and legacies
Total
funds
g months
ended
31
December
2023
Unreslricled
fund$
Total
fttnds
31
31
December
2024
December
2024
Donations
Grants
Other incoming resources
84,814
15,277
268
84,814
15,277
268
46,710
8.830
750
100,359
100.359
56.290
Totsl 2023
56,290
56,290
Invèstmont In¢om•
Total
funds
9 months
ended
31
December
2023
Unrestricted
funds
Total
funds
31
December
2024
31
December
2024
Interest income
477
477
Page 12

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of èxpenditure by actlvltles
Activities
undertaken
diredly
Total
funds
9 months
ended
31
December
2023
Support
¢osl$
Tota
funds
31
December
2024
31
December
2024
31
December
2024
Synagogue operations
88.351
26,270
114,621
15,380
Total 2023
9,352
6,028
15.380
Analys1$ of dlreet costs
Activities
undertaken
directly
Total
funds
9 months
ended
31
December
2023
Total
funds
31
December
2024
31
December
2024
Staff costs
MRJ Assessment
51,745
2.149
4,433
2,408
4.737
5,859
51,745
2.149
4,433
2,408
4,737
5.8S9
2,343
1.863
226
149
High Holy Day
Rabbi expenses
General expenses
JJBS fees
Office equipment expense
Staff expenses
Rent
491
3,500
13.520
3,500
13.520
380
3,900
88,351
88.351
9.352
Total 2023
9,352
9,352
Page 13

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expendlture by activities Icontinuedl
Analysis of support costs
Activities
undertaken
directly
Total
funds
9 months
ended
31
Decembèr
2023
Total
funds
31
December
2024
31
December
2024
Pension provider costs
Depreciation
Payrnenl provider fees
Office & Admin Expenses
Beacon fees
Insurance
Advertising & M8rketing
Subscriptions
IT Soltware Expenses
Audit & A¢¢ounling fees
Bank charges
Charitable donations
294
100
1.380
7,037
5.278
1.028
294
100
1.380
7,037
5,278
1,028
764
594
437
965
246
267
1.603
8,550
1.603
8.550
1,073
1.680
1,000
1,000
26,270
26,270
6,028
Total 2023
6,028
6,028
Independènt examlnerfj remuneratlon
The independent eXamine￿S remuneration amounts to an independent examiner fee of £1.450 12023 -
£1,400).
Page 14

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Staff costs
9 months
ended
31
December
2023
31
December
2024
Wages and salaries
Social security cost3
Conlrsbulion lo defined contfibulion pension schemes
44,512
1.138
6.389
52,039
The average numb8r of persons employed by the charity during the year was as follow$.'
9 months
ended
31
December
2023
No.
31
December
2024
No.
Employees
No employoe rec6iv•d rgmuneralion amounting to more than £60,000 in either year.
Trustees. remtjneratlon and expenses
During the year. no Trustees received any r8mvn8r8tion or other benefits12023 - £NILI.
During the year ended 31 December 2024, no Trustee expenses havè been incurred (2023 - £NIL).
Dobtors
2024
2023
Dug Withln one yoar
Amounts owed by group undertakings
Prepayments and accnied income
28.641
8,830
3.093
3,093
37,471
Page 15

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10. Creditors: Amounts falllng due wlthln one year
2024
2023
Trade creditors
Other laxalion and social se¢urity
Pensions payable
Other creditors
Accruals and deferred incom8
1.456
1.306
384
2.130
11.470
77
6,543
16,746
6,620
11. Statement of funds
Statement of funds - Currènt year
Balance al
31
December
2024
Balance al 1
January
2024
Income Expenditure
Unr8Mtrlct8d fund#
General Funds - all funds
50,143
100,836
1114,621 }
36,358
ststement of funds . prior year
Balance at
31
Docember
2023
B818nce at
1 April 2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
9,233
56,290
11 S,380}
50,143
Page 16

MAKOR HAYIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12. Analysls of net assets between funds
Analysls of net assets between fund$ - current perlod
Unrestricted
funds
2024
Totsl
funds
2024
CurTrnl assets
Creditors due within one year
53,104
(16.7461
53.104
116,7461
Total
36,358
36,358
Analysls of nel assBts bgtw•on fund$ . prfor perlod
Unreslricled
lund5
2023
Total
funds
2023
CUr￿n1 assets
Creditors due wilhin one year
56.763
16,620}
56,763
16,6201
Total
50.143
50,143
13.
Penslon commltments
The charity operates a defined contribution pension seheme. The assets of the scheme are held
separately from those of the charity in an independently administered hjnd. The pension cost charge
reprèsents contributions payable by the charity lo the fund and amounted to £6.389 12023.. £Nill. £384
12023= £Nill was payable to the fL¢nd at the balance sheet date and has b8en induded in erediloT5.
14. Related party transactions
During the year, unrestricted donations of £12,450 12023: £7301 in aggregate were received from the
Iruslees. In additson, a donalion of £Nil12023.' £10,000) was received from a close family member of one
of the TYuste85.
Page 17