**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