REGISTERED CHARITY NUMBER: 207956
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Adath Yisroel Synagogue & Burial Society
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Adath Yisroel Synagogue & Burial Society
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
Adath Yisroel Synagogue & Burial Society
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 main object of the Synagogue is to provide services for Orthodox Jews and to provide all its members with the communal facilities required for the purpose of practising and studying their religion.
The main object of the Burial Society is to provide burial facilities for the members of both the Synagogue and of such other congregations and societies who wish to make use of the facilities.
The policy of the Synagogue and Burial Society continues to be to seek membership and burial fees in order to pursue the Charity's objects.
Public benefit
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
FINANCIAL REVIEW
Investment policy and objectives
The investment policy of the Trustees is to invest reserves in interest bearing bank receipts.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserve of the charity, at a level which the Trustee think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
Risk Factors
The charity has assessed the major risk areas to which the charity is exposed, in particular those to the operations and finances of the charity, and is satisfied that systems are in place to mitigate its exposure to those risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Charity was founded on 11 August 1889 under the name of the name North London Beth Hamedrash and changed its name to "Adath Yisroel Synagogue incorporating The North London Beth Hamedrash" on 25 December 1913. The Governing document of the charity is the Rules and Regulations embodying its Constitution as passed at General Meetings held on 25 December 1913 and 9 May 1915.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
207956
Principal address
40 Queen Elizabeth Walk London N16 0HQ
Trustees
M Bibelman G Lewin D Lobenstein
Page 1
Adath Yisroel Synagogue & Burial Society
Report of the Trustees for the Year Ended 31 December 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Samuel Feigenblatt FCCA London Accounting Group Ltd 5 North End Road London NW11 7RJ Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ M Bibelman - Trustee
Page 2
Independent Examiner's Report to the Trustees of Adath Yisroel Synagogue & Burial Society
Independent examiner's report to the trustees of Adath Yisroel Synagogue & Burial Society
I report to the charity trustees on my examination of the accounts of Adath Yisroel Synagogue & Burial Society (the Trust) for the year ended 31 December 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Samuel Feigenblatt FCCA
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Adath Yisroel Synagogue & Burial Society
Statement of Financial Activities for the Year Ended 31 December 2024
| 31.12.24 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 123,505 Charitable activities 4 Charitable Activities 703,746 Investment income 3 129,363 Total 956,614 EXPENDITURE ON Charitable activities 5 Charitable Activities 923,217 NET INCOME 33,397 RECONCILIATION OF FUNDS Total funds brought forward 4,032,899 TOTAL FUNDS CARRIED FORWARD 4,066,296 |
31.12.23 Total funds £ 100,604 905,910 57,038 |
|---|---|
| 1,063,552 | |
| 973,584 | |
| 89,968 3,942,931 |
|
| 4,032,899 |
The notes form part of these financial statements
Page 4
Adath Yisroel Synagogue & Burial Society
Balance Sheet 31 December 2024
| 31.12.24 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 1,883,776 CURRENT ASSETS Stocks 12 600 Debtors 13 25,564 Cash at bank and in hand 2,273,835 2,299,999 CREDITORS Amounts falling due within one year 14 (12,632) NET CURRENT ASSETS 2,287,367 TOTAL ASSETS LESS CURRENT LIABILITIES 4,171,143 CREDITORS Amounts falling due after more than one year 15 (104,847) NET ASSETS 4,066,296 FUNDS 16 Unrestricted funds 4,066,296 TOTAL FUNDS 4,066,296 |
31.12.23 Total funds £ 1,936,551 600 27,464 2,124,146 2,152,210 (30,655) 2,121,555 4,058,106 (25,207) 4,032,899 4,032,899 4,032,899 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M Bibelman - Trustee
The notes form part of these financial statements
Page 5
Adath Yisroel Synagogue & Burial Society
Cash Flow Statement
for the Year Ended 31 December 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.24 £ 139,033 139,033 - 10,656 10,656 149,689 2,124,146 2,273,835 |
31.12.23 £ 181,128 181,128 (231,979) 6,769 (225,210) (44,082) 2,168,228 2,124,146 |
|---|---|---|
The notes form part of these financial statements
Page 6
Adath Yisroel Synagogue & Burial Society
Notes to the Cash Flow Statement for the Year Ended 31 December 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Land replacement cost Decrease in debtors Increase in creditors Net cash provided by operations |
31.12.24 £ 33,397 2,775 (10,656) 50,000 1,900 61,617 139,033 |
31.12.23 £ 89,968 3,033 (6,769) 50,000 42,151 2,745 |
|---|---|---|
| 181,128 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash Cash at bank and in hand Total |
At 1/1/24 £ 2,124,146 2,124,146 2,124,146 |
Cash flow £ 149,689 149,689 149,689 |
At 31/12/24 £ 2,273,835 |
|---|---|---|---|
| 2,273,835 | |||
| 2,273,835 |
The notes form part of these financial statements
Page 7
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years Fixtures and fittings - 25% on reducing balance
In the opinion of the trustees, it is no longer appropriate to provide depreciation on the Synagogue building and its land.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Pension costs and other post-retirement benefits
The pension costs charged in the accounts represent the contributions payable by the charity during the year in accordance with FRS17.
continued...
Page 8
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Government grants
Grants towards capital expenditure are released to the statement of financial activities over the expected useful life of the relevant assets.
2. DONATIONS AND LEGACIES
| Donations - Other 3. INVESTMENT INCOME Rents received Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Synagogue income Burial society income 5. CHARITABLE ACTIVITIES COSTS Charitable Activities 6. GRANTS PAYABLE Charitable Activities |
31.12.24 £ 123,505 31.12.24 £ 118,707 10,656 129,363 31.12.24 Charitable Activities £ 35,703 668,043 703,746 Grant funding of activities Support Direct (see note costs (see Costs 6) note 7) £ £ £ 675,475 135,908 111,834 31.12.24 £ 135,908 |
31.12.23 £ 100,604 |
|---|---|---|
| 31.12.23 £ 50,269 6,769 |
||
| 57,038 | ||
| 31.12.23 Total activities £ 27,751 878,159 |
||
| 905,910 | ||
| Totals £ 923,217 |
||
| 31.12.23 £ 129,282 |
The total grants paid to institutions during the year was £130,908 (2023: £126,532).
Grants paid to institutions is comprised as follows:
| Beis Chinuch | 5,000 |
|---|---|
| Chasdei Uvois | 10,000 |
| Low Cost Living | 7,500 |
| Matan be Seiser | 8,000 |
| Yeshivas Mekor | 5,000 |
continued...
Page 9
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. GRANTS PAYABLE - continued
| Yeshivas Horomo | 11,500 |
|---|---|
| The Union Of Orthodox Hebrew Congregations | 50,000 |
| OTHER DONATIONS LESS THAN £5,000 | 33,908 |
| 130,908 | |
7. SUPPORT COSTS
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Finance | Other | costs | Totals | |
| £ | £ | £ | £ | |
| Charitable Activities | 1,355 | 52,415 | 58,064 | 111,834 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Administrative staff |
31.12.24 £ 258,832 8,459 3,644 270,935 31.12.24 13 |
31.12.23 £ 245,967 14,926 4,336 |
|---|---|---|
| 265,229 | ||
| 31.12.23 13 |
No employees received emoluments in excess of £60,000.
continued...
Page 10
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Charitable Activities Investment income Total EXPENDITURE ON Charitable activities Charitable Activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 11. TANGIBLE FIXED ASSETS COST At 1 January 2024 and 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Land replacement cost At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Freehold property £ 3,053,346 1,123,894 - 50,000 1,173,894 1,879,452 1,929,452 |
Plant and machinery £ 6,000 2,000 2,000 - 4,000 2,000 4,000 |
Fixtures and fittings £ 413,001 409,902 775 - 410,677 2,324 3,099 |
Unrestricted funds £ 100,604 905,910 57,038 1,063,552 973,584 89,968 3,942,931 4,032,899 Totals £ 3,472,347 1,535,796 2,775 50,000 1,588,571 1,883,776 1,936,551 |
Unrestricted funds £ 100,604 905,910 57,038 1,063,552 973,584 89,968 3,942,931 4,032,899 Totals £ 3,472,347 1,535,796 2,775 50,000 1,588,571 1,883,776 1,936,551 |
|---|---|---|---|---|---|
| 1,063,552 | |||||
| 973,584 | |||||
| 89,968 3,942,931 |
|||||
| 4,032,899 | |||||
| Totals £ 3,472,347 1,535,796 2,775 50,000 1,588,571 1,883,776 1,936,551 |
|||||
continued...
Page 11
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 12. STOCKS 31.12.24 £ Stocks 600 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 £ Other debtors 614 Staff loan 10,800 Other loan debtors 14,150 25,564 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 £ Trade creditors 2,540 Taxation and social security 492 Other creditors 9,600 12,632 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 £ Other creditors 104,847 16. MOVEMENT IN FUNDS Net movement At 1/1/24 in funds £ £ Unrestricted funds General fund 4,032,899 33,397 TOTAL FUNDS 4,032,899 33,397 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 956,614 (923,217) TOTAL FUNDS 956,614 (923,217) |
31.12.23 £ 600 31.12.23 £ 814 10,800 15,850 27,464 31.12.23 £ 20,843 5,012 4,800 30,655 31.12.23 £ 25,207 At 31/12/24 £ 4,066,296 |
31.12.23 £ 600 31.12.23 £ 814 10,800 15,850 27,464 31.12.23 £ 20,843 5,012 4,800 30,655 31.12.23 £ 25,207 |
|---|---|---|
| 4,066,296 | ||
| Movement in funds £ 33,397 33,397 |
||
| 33,397 |
continued...
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Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/1/23 £ Unrestricted funds General fund 3,942,931 TOTAL FUNDS 3,942,931 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,063,552 TOTAL FUNDS 1,063,552 |
Net movement in funds £ 89,968 89,968 Resources expended £ (973,584) (973,584) |
At 31/12/23 £ 4,032,899 |
|---|---|---|
| 4,032,899 | ||
| Movement in funds £ 89,968 |
||
| 89,968 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/1/23 £ 3,942,931 3,942,931 |
Net movement in funds £ 123,365 123,365 |
At 31/12/24 £ 4,066,296 |
|---|---|---|---|
| 4,066,296 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,020,166 | (1,896,801 ) | 123,365 |
| TOTAL FUNDS | 2,020,166 | (1,896,801 ) | 123,365 |
continued...
Page 13
Adath Yisroel Synagogue & Burial Society
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
17. CONTINGENT LIABILITIES
Under an agreement with Union of Orthodox Hebrew Congregations (UOHC) dated 10 August 1992, the charity has a potential liability to make a grant to the UOHC, equal to 49% of the surplus of income over expenditure. Provision for this liability is subject to actuarial approval.
18. RELATED PARTY DISCLOSURES
M Bibelman is also a Trustee of The Union Of Orthodox Hebrew Congregations.
During the year donations paid to The Union Of Orthodox Hebrew Congregations amounted to £50,000 (2023: £42,800).
Page 14
Adath Yisroel Synagogue & Burial Society
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations - Other Investment income Rents received Deposit account interest Charitable activities Synagogue income Burial society income Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Synagogue, Marriage & Mikvah expenses Funeral expenses Chevrah Kadisha Seuda & expens Burial ground and other expenses Grants to institutions Grants to individuals Support costs Finance Bank charges Other Land replacement cost Release of Grant Plant and machinery Fixtures and fittings Governance costs Office and admin costs Carried forward |
31.12.24 £ 123,505 118,707 10,656 129,363 35,703 668,043 703,746 956,614 258,832 8,459 3,644 260,154 89,685 3,578 51,123 130,908 5,000 811,383 1,355 50,000 (360) 2,000 775 52,415 36,013 36,013 |
31.12.23 £ 100,604 50,269 6,769 57,038 27,751 878,159 905,910 1,063,552 245,967 14,926 4,336 276,289 102,883 1,300 71,080 126,532 2,750 846,063 1,762 50,000 (360) 2,000 1,033 52,673 35,788 35,788 |
|---|---|---|
This page does not form part of the statutory financial statements
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Adath Yisroel Synagogue & Burial Society
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| Governance costs Brought forward Legal and professional Sundries Accountancy fees Total resources expended Net income |
31.12.24 £ 36,013 600 16,651 4,800 58,064 923,217 33,397 |
31.12.23 £ 35,788 17,109 15,389 4,800 |
|---|---|---|
| 73,086 | ||
| 973,584 | ||
| 89,968 |
This page does not form part of the statutory financial statements
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