**Charity number: 207404**
## **THE INITIATION SOCIETY**
**Trustees' annual report and accounts**
**31 December 2022**
## **THE INITIATION SOCIETY**
## **Contents**
||**Page**|
|---|---|
|Reference and administration details|**2**|
|Trustees' annual report|**3**|
|Independent examiner's report|**4**|
|Statement of financial activities|**5**|
|Statement of financial position|**6**|
|Notes to the financial statements|**7 - 11**|
**Page 1**
## **THE INITIATION SOCIETY**
## **Reference and administration details**
|**Honorary officers**|Dr Sholaum Gerson Springer|President|
|---|---|---|
||Mr Jonathan Robert Weinstein|Treasurer|
|**Trustees**|Dr Sholaum Gerson Springer||
||Mr Jonathan Robert Weinstein||
||Dr Joseph Spitzer||
|**Secretary**|Mr Benjamin Bookman||
|**Charity number**|207404||
|**Principal address**|22 Wentworth Road||
||London||
||NW11 0RP||
|**Accountants**|Martin Tiano FCA||
||Somers Baker Prince Kurz LLP||
||Chancellors House||
||Brampton Lane||
||Hendon||
||London||
||NW4 4AB||
|**Bankers**|Santander UK plc||
||Bridle Road||
||Bootle||
||Merseyside||
||L30 4GB||
**Page 2**
## **THE INITIATION SOCIETY**
## **Trustees' report (continued) Year ended 31 December 2022**
The trustees are pleased to present their annual report and accounts of the Society for the year ended 31 December 2022.
## **Reference and Administration Details**
The reference and administration details of the Society is set out on page 2.
## **Structure, Governance and Management**
THE INITIATION SOCIETY is a UK registered charity and is governed by the Laws of the Society founded in 1745 and amended most recently in 1996. It is managed by the Honorary Officers and a Board of Trustees. A General Committee, which includes the Honorary Officers and the Trustees, is responsible for establishing the policy of the Society. An Executive Committee, which consists of the President, the Treasurer, the Secretary and the Medical Officer, is responsible for the general day to day management of the Society.
The General Committee meets twice annually. The Executive Committee meets whenever the President considers appropriate and, in any case, if two members of the Executive Committee so require. The Secretary attends but does not vote in the Executive Committee and is responsible for the administrative functions of the Society.
## **Objectives and Activities**
The main activity and objective of the Society is to promote advancement of the Jewish religion by facilitating the initiation of male Jewish children into the Covenant of Abraham. The trustees confirm that they gave regard to the Charity Commission guidance on public benefit when preparing this report.
## **Achievements, Performance and Financial Review**
The Society's funds are applied in furtherance of its objectives and the day-to-day running of the Society.
During the year ended 31 December 2022, total incoming resources of the Society amounted to £74,036 (2021: £38,785). The resources expended amounted to £73,157 (2021: £82,861), resulting in net incoming resources of £879 (2021: £(44,076)).
Since the year end, the Society has received approval from external charitable trusts which have guaranteed funding for the period up to February 2024. The trustees are currently pursuing the extension of this funding together with other funders to secure the long term future of the Society and are confident that this will be achieved in the near future.
## **Trustees Declaration**
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the Society’s Laws. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees declare that they have approved the trustees' report on 7 September 2023 and signed on their behalf by:
## Jonathan Weinstein
**Dr Sholaum Gerson Springer Trustee**
Jonathan Weinstein (Sep 23, 2023 21:09 GMT+1) **Mr Jonathan Robert Weinstein Trustee**
**Page 3**
## **THE INITIATION SOCIETY**
## **Independent Examiner's Report to the Trustees of THE INITIATION SOCIETY**
I report to the trustees on the accounts of THE INITIATION SOCIETY (Charity number 207404) ("the Trust") for the year ended 31 December 2022 which comprise the statement of financial activities, the statement of financial position and the related notes.
## **Responsibilities and basis of report**
As the charity's trustees are responsible for the preparation of the accounts in accordance with 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 2011 Act and in carrying out my examination, I have followed all the 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, other than that disclosed below, which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did 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.
**Martin Tiano FCA Somers Baker Prince Kurz LLP Chartered Accountants 7 September 2023**
**Chancellors House Brampton Lane Hendon London NW4 4AB**
**Page 4**
## **THE INITIATION SOCIETY**
## **Statement of financial activities for the year ended 31 December 2022**
|Restricted
Unrestricted
income
funds
funds
**Notes**
£
£
**Incoming resources**
Donations and legacies
**4**
48,441
-
Charitable activities
**4**
25,313
-
Investments
**4**
7
-
Other
**4**
275
-
**Total incoming resources**
74,036
-
**Resources expended**
Expenditure on management and
administration of the charity
**5**
73,157
-
**Total resources expended**
73,157
-
**Net income/(expenditure)**
**being net movement in funds**
879
-
**Reconciliation of funds:**
Funds brought forward (deficit)
)
(54,753
-
**Funds carried forward (deficit)**
)
(53,874
-|**Total**
**funds**
**2022**
**£**
48,441
25,313
7
275
74,036
73,157
73,157
879
)
(54,753
)
(53,874|Total
funds
2021
£
22,652
15,853
1
279
38,785
82,861
82,861
)
(44,076
)
(10,677
)
(54,753|
|---|---|---|
**The notes on pages 7 to 11 form part of these financial statements.**
**Page 5**
## **THE INITIATION SOCIETY**
## **Statement of financial position 31 December 2022**
|**2022**
**Note**
**£**
**£**
**Fixed assets**
Tangible assets
**6**
134
**Current assets**
Debtors
**7**
38,201
Cash at bank and in hand
19,761
57,962
**Creditors: amounts falling due**
**within one year**
**8**
)
(111,970
**Net current liabilities**
)
(54,008
**Total assets less current liabilities**
)
(53,874
**Net liabilities**
)
(53,874
**Funds of the charity**
Unrestricted funds (deficit)
**9**
)
(53,874
**Net deficit**
)
(53,874|2021
£
£
179
32,021
10,078
42,099
)
(97,031
)
(54,932
)
(54,753
)
(54,753
)
(54,753
)
(54,753|
|---|---|
Approved by the trustees on 7 September 2023 and signed on their behalf by:
Jonathan Weinstein Jonathan Weinstein (Sep 23, 2023 21:09 GMT+1)
**Dr Sholaum Gerson Springer Mr Jonathan Robert Weinstein Trustee Trustee**
**The notes on pages 7 to 11 form part of these financial statements.**
**Page 6**
## **THE INITIATION SOCIETY**
## **Notes to the financial statements Year ended 31 December 2022**
## **1. General information**
The charity is an unincorporated charity registered with the Charity Commission in England and Wales. The registered address of the charity is 22 Wentworth Road, London, NW11 0RP. The Society is a public benefit entity.
## **2. Statement of compliance**
These accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, with the Financial Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees are confident that the Society will continue to operate for the foreseeable future.
## **Recognition of income**
These are included in the statement of financial activities when:
- the charity becomes entitled to the resources;
- it is more likely than not that the charity will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **Offsetting**
There has been no offsetting of income and expenses, or assets and liabilities, unless required by SORP (FRS 102) or FRS 102.
## **Grants and donations**
Grants and donations are only included in the statement of financial activities when the general income recognition criteria are met (paragraphs 5.10 to 5.12 SORP (FRS 102)).
## **Income from registrations and subscriptions**
Registration and subscription fees which give members a right to services or other benefits are recognised as income earned from charitable activities. Amounts received in the nature of a gift are recognised as donations and legacies.
## **Income from interest**
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
**Page 7**
## **THE INITIATION SOCIETY**
## **Notes to the financial statements (continued) Year ended 31 December 2022**
## **Taxation**
The Society is exempt from taxation.
## **Tangible assets**
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
## **Impairment**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
## **Basic financial instruments**
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 SORP (FRS 102). Subsequent measurement is as per paragraphs 11.17 to 11.19 SORP (FRS 102).
## **Debtor recognition**
Debtors are measured on initial recognition at settlement amount or amount advanced by the charity. Subsequently they are measured at the cash or other consideration to be received.
## **Liability and expenditure recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
**Page 8**
## **THE INITIATION SOCIETY**
## **Notes to the financial statements (continued) Year ended 31 December 2022**
## **4. Incoming resources of the charity**
|Restricted
Unrestricted
income
funds
funds
£
£
**Donations and legacies**
Donations
40,609
-
Gift Aid
980
-
Grants
6,852
-
48,441
-
**Charitable activities**
Registration and tuition fees of Mohelim
25,313
-
**Investments**
Bank interest
7
-
**Other**
Tax recoverable
275
-
74,036
-
**5.**
**Expenditure on management and administration of the charity**
Restricted
Unrestricted
income
funds
funds
£
£
Medical officer's expense and allowance
1,750
-
Secretarial fees
13,750
-
Administrative support
-
-
Insurance of trainees and Mohelim
38,805
-
Printing, postage and stationery
155
-
Website costs
)
(6
-
PR, seminar and conference
232
-
Legal and professional
16,192
-
Accountancy and independent examination
2,170
-
Bank charges
-
-
General expenses
64
-
Depreciation of fixtures, fittings and equipment
45
-
73,157
-|**Total**
**2022**
**£**
40,609
980
6,852
48,441
25,313
7
275
74,036
**Total**
**2022**
**£**
1,750
13,750
-
38,805
155
)
(6
232
16,192
2,170
-
64
45
73,157|Total
2021
£
16,771
881
5,000
22,652
15,853
1
279
38,785
Total
2021
£
2,250
16,250
-
40,093
710
5,963
3,103
12,130
2,180
)
(30
153
59
82,861|
|---|---|---|
**Page 9**
## **THE INITIATION SOCIETY**
## **Notes to the financial statements (continued) Year ended 31 December 2022**
## **6. Tangible assets**
|**Cost**
**At 1 January 2022 and 31 December 2022**
**Depreciation**
At 1 January 2022
Charge for the year
**At 31 December 2022**
**Carrying amount**
**At 31 December 2022**
At 31 December 2021
**7.**
**Debtors**
Prepayments
**8.**
**Creditors: amounts falling due within one year**
Loans
Accruals
Other creditors|**Fixtures,**
**fittings and**
**equipment**
**£**
578
399
45
444
134
179
**2022**
2021
**£**
£
38,201
32,021
**2022**
2021
**£**
£
83,500
87,000
28,470
7,890
-
2,141
111,970
97,031|**Fixtures,**
**fittings and**
**equipment**
**£**
578
399
45
444
134
179
**2022**
2021
**£**
£
38,201
32,021
**2022**
2021
**£**
£
83,500
87,000
28,470
7,890
-
2,141
111,970
97,031|
|---|---|---|
|||399
45|
|||444|
|||134|
|||179|
|||2021
£
32,021
2021
£
87,000
7,890
2,141
97,031|
Loans are unsecured, interest-free and repayable on demand.
## **9. Funds of the charity**
All funds are unrestricted which the Trustees are able to spend or apply at their discretion to further any of the charity's purposes.
**Page 10**
## **THE INITIATION SOCIETY**
## **Notes to the financial statements (continued) Year ended 31 December 2022**
## **10. Related party transactions**
At the reporting date, the amount owed by the Society to one of its Trustees, Dr S G Springer and Mrs S Springer in respect of an unsecured interest-free loan was £30,000 (2021 - £30,000). This has been repaid since the year end.
At the reporting date, the amount owed by the Society to one of its Trustees, Dr J Spitzer, in respect of an unsecured interest-free loan was £1,000 (2021 - £1,000). This has been repaid since the year end.
There were no other related party transactions during the current or prior year, including remuneration or reimbursement of out-of-pocket expenses made to the Trustees or Honorary Officers, or to third parties for expenses incurred by the Trustees or Honorary Officers.
**Page 11**