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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1089175

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2022

for

The Liverpool Old Hebrew Congregation

Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ

The Liverpool Old Hebrew Congregation

Contents of the Financial Statements for the Year Ended 31 December 2022

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 12
Detailed Statement of Financial Activities 13 to 14

The Liverpool Old Hebrew Congregation

for the Year Ended 31 December 2022

Report of the Trustees

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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

Objects of the congregation

a) The advancement of the Jewish religion,

b) To maintain, repair and preserve, for the benefit of the public, the synagogue at Princes Road with all its artefacts and chattels and also its cemeteries.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Expenditure on charitable activities amounted to £74,729 for the year (2021: £134,792).

FINANCIAL REVIEW

Principal funding sources

The majority of the Charity's income comes from donations and members contributions.

Reserves policy

Funds relative to the ongoing fabric of the synagogue together with any funds held for third parties are maintained as separate restricted funds.

FUTURE PLANS

The major challenge to the charity is to maintain its income and obtain funding for further necessary repairs and refurbishment to the Synagogue and upkeep of cemeteries.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust. It was originally registered on 19 September 1874 under the Place of Worship Registrations Act 1855 and was registered by the Charity Commission on 1 November 2001.

Organisational structure

The Congregation is administered by a Board of Charitable Trustees, which comprises the Honorary Officers (Senior and Junior Wardens, Chairman, Honorary Treasurer and Honorary Secretary) plus seven other Trustees.

The above Board meets to review current financial and administrative matters and to plan for the future.

Induction and training of new trustees

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1089175

Principal address

Synagogue Chambers Princes Road Liverpool L8 1TG

Trustees

Mrs L P Maginn (resigned 10.4.22) S Marks (Chairman & Senior Warden) (resigned 10.4.22) J Rosenthal (Hon. Treasurer) E D Rosenfield D B Kay (Hon. Sec) M P Phillips Trustee (appointed 10.4.22) Mrs A M Cohen (Trustee & Chairman) (appointed 10.4.22) S Marks (Trustee & Senior Warden) (appointed 10.4.22)

Page 1

The Liverpool Old Hebrew Congregation

Report of the Trustees for the Year Ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ

Investment Advisers

Blankstone Sington Limited Walker House Exchange Flags Liverpool L2 3YL 29/03/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

A M Cohen

...........................................................................

Mrs A M Cohen - Trustee

Page 2

Independent Examiner's Report to the Trustees of The Liverpool Old Hebrew Congregation

Independent examiner's report to the trustees of The Liverpool Old Hebrew Congregation

I report to the charity trustees on my examination of the accounts of The Liverpool Old Hebrew Congregation (the Trust) for the year ended 31 December 2022.

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:

  1. 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

  3. 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.

Michael Forshaw FCA Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ 29/03/2023 Date: .............................................

Page 3

The Liverpool Old Hebrew Congregation

Statement of Financial Activities

for the Year Ended 31 December 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
48,141
-
Investment income
2
4,115
20
Total
52,256
20
EXPENDITURE ON
Raising funds
3
1,234
-
Charitable activities
Princes Road Synagogue
72,168
2,561
Other
-
-
Total
73,402
2,561
Net gains/(losses) on investments
(19,785)
-
NET INCOME/(EXPENDITURE)
(40,931)
(2,541)
Transfers between funds
12
(105)
105
Net movement in funds
(41,036)
(2,436)
RECONCILIATION OF FUNDS
Total funds brought forward
155,950
11,757
TOTAL FUNDS CARRIED FORWARD
114,914
9,321		 31.12.22
Total
funds
£
48,141
4,135
52,276
1,234
74,729
-
75,963
(19,785)
(43,472)
-
(43,472)
167,707
124,235		 31.12.21
Total
funds
£
112,583
4,424
117,007
2,015
134,792
-
136,807
11,103
(8,697)
-
(8,697)
176,404
167,707

The notes form part of these financial statements

Page 4

The Liverpool Old Hebrew Congregation

Balance Sheet

31 December 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
7
18,169
-
Investments
8
109,932
704
128,101
704
CURRENT ASSETS
Debtors
9
5,845
41
Cash at bank
14,146
8,576
19,991
8,617
CREDITORS
Amounts falling due within one year
10
(33,178)
-
NET CURRENT ASSETS
(13,187)
8,617
TOTAL ASSETS LESS CURRENT LIABILITIES
114,914
9,321
NET ASSETS
114,914
9,321
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS
 31.12.22
Total
funds
£
18,169
110,636
128,805
5,886
22,722
28,608
(33,178)
(4,570)
124,235
124,235
114,914
9,321
124,235

29/03/2023		 31.12.21
Total
funds
£
18,189
127,521
145,710
11,030
28,859
39,889
(17,892)
21,997
167,707
167,707
155,950
11,757
167,707

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

A M Cohen

............................................. A M Cohen - Trustee

The notes form part of these financial statements

Page 5

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements for the Year Ended 31 December 2022

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. Irrecoverable VAT is charged against the category of the resources expended for which it was incurred.

Allocation and apportionment of costs

Costs for each fund are allocated according to the direct costs incurred by each fund.

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 - see heritage assets policy below Fixtures and fittings - 15% reducing balance

Fund accounting

The Unrestricted Funds comprise the General Fund and Designated Fund B.

The Restricted Funds comprise:

a. Kol Nidre Fund represents charity collections not yet paid over.

b. Restoration Fund represents funds donated specifically for the restoration of the synagogue and for the continuity of the Congregation.

c. Deane Road Fund represents funds donated specifically for the restoration and maintenance of the closed cemetery.

Heritage assets

The freehold property, which consists of the Synagogue in Princes Road Liverpool, is considered to be an historic and inalienable asset. Its residual value is considered to be in excess of the cost shown in these accounts and therefore no depreciation is provided. The property has not been revalued because in the opinion of the trustees, the costs of professionally valuing this asset would outweigh the benefits to the users of these accounts.

2. INVESTMENT INCOME

INVESTMENT INCOME
31.12.22 31.12.21
£ £
Dividends & interest 4,135 4,424

continued...

Page 6

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

3. RAISING FUNDS

Investment management costs

31.12.22 31.12.21
£ £
Portfolio management 1,234 2,015

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

6.

31.12.22 31.12.21
Administrative 1 3
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 111,982 601 112,583
Investment income 4,135 289 4,424
Total 116,117 890 117,007
EXPENDITURE ON
Raising funds 1,291 724 2,015
Charitable activities
Princes Road Synagogue 134,569 223 134,792
Other (38,500) 38,500 -
Total 97,360 39,447 136,807
Net gains on investments 10,857 246 11,103
NET INCOME/(EXPENDITURE) 29,614 (38,311) (8,697)
RECONCILIATION OF FUNDS
Total funds brought forward 126,336 50,068 176,404
TOTAL FUNDS CARRIED FORWARD 155,950 11,757 167,707

continued...

Page 7

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

7. TANGIBLE FIXED ASSETS

7.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
Computer
property
fittings
equipment
£
£
£
COST
At 1 January 2022 and 31 December 2022
18,050
3,694
894
DEPRECIATION
At 1 January 2022
-
3,555
894
Charge for year
-
20
-
At 31 December 2022
-
3,575
894
NET BOOK VALUE
At 31 December 2022
18,050
119
-
At 31 December 2021
18,050
139
-
8.
FIXED ASSET INVESTMENTS
Cash and
Listed
settlements
investments
pending
£
£
MARKET VALUE
At 1 January 2022
117,959
9,562
Additions
25,644
20,832
Disposals
(20,812)
(25,645)
Revaluations
(19,785)
-
Management costs
-
(1,234)
Dividends & Interest
-
4,115
At 31 December 2022
103,006
7,630
NET BOOK VALUE
At 31 December 2022
103,006
7,630
At 31 December 2021
117,959
9,562		 Totals
£
22,638
4,449
20
4,469
18,169
18,189
Totals
£
127,521
46,476
(46,457)
(19,785)
(1,234)
4,115		 Totals
£
22,638
4,449
20
4,469
18,169
18,189
110,636
110,636
127,521

Cost or valuation at 31 December 2022 is represented by:

Cash and
Listed
settlements
investments
pending
£
£
Valuation in 2022
103,006
-
Cost
-
7,630
103,006
7,630		 Totals
£
103,006
7,630
110,636

continued...

Page 8

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

£
Trade debtors
5,845
Other debtors
41
Prepayments and accrued income
-
5,886
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22

£
Bank loans and overdrafts (see note 11)
19,898
Trade creditors
90
Other creditors
13,190
33,178
11.
LOANS
An analysis of the maturity of loans is given below:
31.12.22

£
Amounts falling due within one year on demand:
Bank overdrafts
19,898
12.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.22
in funds
funds

£
£
£
Unrestricted funds
General fund
29,113
(24,026)
(105)
Fund B
126,837
(16,905)
-
155,950
(40,931)
(105)
Restricted funds
Restoration Fund
684
20
-
Kol Nidre Fund
2,010
-
-
Deane Road
9,063
(2,561)
105
11,757
(2,541)
105
TOTAL FUNDS
167,707
(43,472)
-		 31.12.21
£
9,030
-
2,000
11,030
31.12.21
£
8,821
6,000
3,071
17,892
31.12.21
£
8,821
At
31.12.22
£
4,982
109,932
114,914
704
2,010
6,607
9,321
124,235

continued...

Page 9

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 48,142 (72,168) - (24,026)
Fund B 4,114 (1,234) (19,785) (16,905)
52,256 (73,402) (19,785) (40,931)
Restricted funds
Restoration Fund 20 - - 20
Deane Road - (2,561) - (2,561)
20 (2,561) - (2,541)
TOTAL FUNDS 52,276 (75,963) (19,785) (43,472)

Comparatives for movement in funds

Unrestricted funds
General fund
Fund B
Restricted funds
Restoration Fund
Kol Nidre Fund
Deane Road
TOTAL FUNDS		 Net
movement
At 1.1.21
in funds
£
£
13,200
15,913
113,136
13,701
126,336
29,614
39,373
(38,689)
2,010
-
8,685
378
50,068
(38,311)
176,404
(8,697)		 At
31.12.21
£
29,113
126,837
155,950
684
2,010
9,063
11,757
167,707

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 111,982 (96,069) - 15,913
Fund B 4,135 (1,291) 10,857 13,701
116,117 (97,360) 10,857 29,614
Restricted funds
Restoration Fund 289 (39,224) 246 (38,689)
Deane Road 601 (223) - 378
890 (39,447) 246 (38,311)
TOTAL FUNDS 117,007 (136,807) 11,103 (8,697)

continued...

Page 10

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Fund B
Restricted funds
Restoration Fund
Kol Nidre Fund
Deane Road
TOTAL FUNDS		 Net
Transfers
movement
between
At 1.1.21
in funds
funds
£
£
£
13,200
(8,113)
(105)
113,136
(3,204)
-
126,336
(11,317)
(105)
39,373
(38,669)
-
2,010
-
-
8,685
(2,183)
105
50,068
(40,852)
105
176,404
(52,169)
-		 At
31.12.22
£
4,982
109,932
114,914
704
2,010
6,607
9,321
124,235

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 160,124 (168,237) - (8,113)
Fund B 8,249 (2,525) (8,928) (3,204)
168,373 (170,762) (8,928) (11,317)
Restricted funds
Restoration Fund 309 (39,224) 246 (38,669)
Deane Road 601 (2,784) - (2,183)
910 (42,008) 246 (40,852)
TOTAL FUNDS 169,283 (212,770) (8,682) (52,169)

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

14. BURIAL BOARD ACTIVITIES

The £23,672 net Burial Board income is made up of;

Funerals £56,283, Donations £841, bank interest £21.

Less £33,473 of other related funeral expense. (Losses brought forward are available).

continued...

Page 11

The Liverpool Old Hebrew Congregation

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

15. GIFT AID REPAYMENTS

Gift Aid repayments for 2022 amounted to £7,200 (2021 £9,030).

Page 12

The Liverpool Old Hebrew Congregation

Detailed Statement of Financial Activities for the Year Ended 31 December 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift Aid repayments
Grants
Kol Nidre fund
Tours and Shop
Furlough Grant
Annual contributions
Offerings
Kiddush receipts
Wedding receipts
Investment income
Dividends & interest
Total incoming resources
EXPENDITURE
Investment management costs
Portfolio management
Charitable activities
Wage costs
Rates and water
Insurance
Light and heat
Telephone & Internet
Postage and stationery
Advertising & marketing
Sundries
Security
Repairs & Maintenance
Festival & Kiddush expenses
Rabbi Costs
Donations
Service expenses
Functions (net)
Burial Board net expenditure
Deane Rd - Heritage expenditure
Support costs
Other
Bookkeeping
Bank Charges
Accountancy
Carried forward		 31.12.22
£
3,181
7,200
5,674
993
-
-
28,468
1,354
756
515
48,141
4,135
52,276
1,234
15,640
3,737
27,083
13,893
1,251
619
8,880
2,425
7,200
5,831
346
9,990
-
125
(9,374)
(23,672)
2,540
66,514
600
1,244
2,817
4,661		 31.12.21
£
21,711
9,030
36,912
300
494
12,139
31,697
190
110
-
112,583
4,424
117,007
2,015
41,515
230
11,653
7,299
1,213
1,637
2,100
191
2,993
2,328
-
3,487
600
38
(5,752)
40,285
-
109,817
1,375
1,131
3,000
5,506

This page does not form part of the statutory financial statements

Page 13

The Liverpool Old Hebrew Congregation

Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
Other
Brought forward
Legal and professional fees
Fixtures and fittings
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Unrealised gains/losses - fixed asset investments
Net expenditure		 31.12.22
£
4,661
3,533
21
8,215
75,963
(23,687)
(19,785)
(43,472)		 31.12.21
£
5,506
19,444
25
24,975
136,807
(19,800)
11,103
(8,697)

This page does not form part of the statutory financial statements

Page 14