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2023-12-31-accounts

Independent examiner's report on the accounts

Section A Independent Examiner’s Report Section A Independent Examiner’s Report
Report to the trustees/
members of
On accounts for the year
ended
Set out on pages
Responsibilities and
basis of report		 READING HEBREW CONGREGATION
31 DECEMBER 2023
Charity no
(if any) 220098
1 to 3
I report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended 31 December 2023.
As the charity's trustees, 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 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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Signed:
Name:
Relevant professional
qualification(s) or body
(if any):
Address:		 Date: 22nd March 2024
Mr M Cooper-Smith
C/o Reading Synagogue
Goldsmid Road
Reading RG1 7YB

1

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

2

Reading Hebrew Congregation - Statement of Financial Activities

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Income & Expenditure 2023 Comparison 2022
RHC RHC RHC RHC RHC RHC
Community Burial Consolidated Community Burial Consolidated
Income Funds Society Total Funds Society Total
Income from Membership & Assets
Membership Contributions 19,300 5,805 25,105 21,249 5,703 26,952
Donations Received to RHC 2,707 2,707 3,249 3,249
Koll Nidre Donations Received 2,641 2,641 1,680 1,680
BOD, CRT & Other Donations Received 921 921 922 922
Gift Aid Membership & Dons to RHC 4,671 4,671 5,283 5,283
Gift Aid On all Other Donations 705 705 0 0
Investment Income 8,880 7,510 16,390 8,352 6,038 14,390
Interest Income 6,509 1,730 8,239 771 845 1,616
Total from Membership & Assets 46,334 15,045 61,379 41,506 12,586 54,092
Income from Activities Gross Costs
Food/Judaica Shop 3,064 (2,842) 222 222 222 222
Golden Mazel 2,230 (1,650) 580 580 390 390
Fund Raising & Events 18 (604) (586) (586) 0 0
Welcome Days 0 (396) (396) (396) 0 0
Luach Fax® 790 (309) 481 481 556 556
Gollancz Hall Receipts 557 557 557 500 500
Sabbath & Festivals 1,594 1,594 1,594 530 530
Miscellaneous 518 518 518 469 469
Total Income from Activities 8,771 (5,801) 2,970 2,970 2,667 2,667
Total Income 49,304 15,045 64,349 44,173 12,586 56,759
Expenditure
Judaica (3,900) (3,900)
Donations to Other Charities Note 4 (4,266) (4,266) (2,752) (2,752)
Legal Fees (494) (494) 0 0
Cleaning (3,919) (3,919) (3,902) (3,902)
Maintenance - General (2,569) (2,569) (1,721) (1,721)
Light, Heat, Water (6,928) (6,928) (4,110) (4,110)
Buildings Insurance (8,032) (8,032) (6,236) (6,236)
Admin Expenses (590) (590) (1,157) (1,157)
Telephone (150) (150) (173) (173)
Newsletter (101) (101) (72) (72)
Publicity (55) (55) (55) (55)
Board of Deputies Affiliation (150) (150) (150) (150)
Security (1,863) (1,863) (3,346) (3,346)
Miscellaneous Expenses (789) (789) (1,797) (1,797)
Service Assistance & Expenses (7,520) (7,520) (4,786) (4,786)
Welfare (329) (329) (273) (273)
Burial Society Expenses
Funerals (7,305) (7,305) (3,390) (3,390)
US Affiliation Fees (969) (969) (1,007) (1,007)
Total Expenditure (41,655) (8,274) (49,929) (30,530) (4,397) (34,927)
Surplus/(deficit) 7,649 6,771 14,420 13,643 8,189 21,832
Gain or (Decline) on Investment Assets (2,767) 796 (1,971) (10,405) (14,166) (24,571)
Net Surplus or (Deficit) for the Year 4,882 7,567 12,449 3,238 (5,977) (2,739)
Page 1 of 3
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Reading Hebrew Congregation - Consolidated Balance Sheet as at 31st December 2023

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Balance Sheet - 2023 Comparison - 2022
RHC Burial RHC Investment Asset RHC Burial RHC
ASSETS Community Society Total Movements 22-23 Community Society Total
Tangible Fixed Assets
Land and Buildings Note 2 525,000 525,000 525,000 525,000
Investments Note 3
Charibond 20,000 90,389 110,389 20,000 90,389 110,389
Unrealised Gain (Decline) on Asset (2,192) (7,159) (9,351) (3,189) (2,755) (9,785) (12,540)
Charibond Net Value 17,808 83,230 101,038 17,245 80,604 97,849
Charifund 60,000 70,000 130,000 60,000 70,000 130,000
Unrealised Gain on Asset 78,350 6,080 84,430 5,159 81,679 7,910 89,589
Charifund Net Value 138,350 76,080 214,430 141,679 77,910 219,589
Total Investment Assets 156,158 159,310 315,468 1,970 158,924 158,514 317,438
Cash
HSBC Current account 24,762 24,762 45,061 45,061
HSBC Golden Mazel Club 376 376 35 35
Bath Building Society 30,175 30,175 0 0
Cambridge & Counties 82,000 82,000
United Trust Bank 28,668 55,367 84,035 0 0
Nationwide Building Society 88,205 88,205 85,721 85,721
Teachers Building Society 0 0 84,750 84,750
Virgin Money 0 0 35,882 48,596 84,478
Total Cash 254,186 55,367 309,553 251,449 48,596 300,045
Debtors
Debtors 8,619 8,619 4,784 4,784
Total Debtors 8,619 0 8,619 4,784 0 4,784
TOTAL ASSETS 943,963 214,677 1,158,640 940,157 207,110 1,147,267
Less: Current LIABILITIES (1,707) (1,707) (2,783) (2,783)
Provision for Extraordinary Cost (4,855) (4,855) (4,855) (4,855)
NET ASSETS 937,401 214,677 1,152,078 932,519 207,110 1,139,629
MEMBERS EQUITY
Land and Buildings Valuation Reserve 525,000 525,000 525,000 525,000
Accumulated Reserves b/f 407,519 207,110 614,629 404,281 213,087 617,368
Current Year Surplus 7,649 6,771 14,420 13,643 8,189 21,832
Gain or (Decline) on Inv Assets (2,767) 796 (1,971) (10,405) (14,166) (24,571)
Accumulated Reserves c/f 937,401 214,677 1,152,078 932,519 207,110 1,139,629
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Page 2 of 3

Reading Hebrew Congregation Notes to 2023 Accounts

NOTE 1

The Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

NOTE 2

The Synagogue was valued in 2022, and is held at the 2022 valuation Land and Buildings is now shown on the Balance Sheet from 2022 No depreciation is provided in respect of freehold land and buildings

NOTE 3

Financial investments are valued based on their quoted market prices as at the 31st December 2023.

NOTE 4
Donations to Other Charities
Reading Food Bank
Board of Deputies
Chief Rabbi Trust
Other
Total		 £
3,187
Collected and paid in 2023
819
Collected and paid in 2023
260
Collected and paid in 2023
0
4,266

NOTE 5 The Burial Society is a restricted fund of RHC.

Page 3 of 3

Trustees' Annual Report for the period

Period start date Period end date From 01 01 2023 To 31 12 2023

Section A Reference and administration details

Charity name Reading Hebrew Congregation Other names charity is known by Reading Synagogue Registered charity number (if any) 220098 Charity's principal address 7 Goldsmid Road Reading Postcode RG1 7YB

Names of the charity trustees who manage the charity

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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Susan Clarke Honorary Officer
2 David Clarke Board Member
3 Mark Drukker Honorary Officer
4 Alan Benn Honorary Officer
5 Michael Fuhr Board Member
6 Sarah Firsht Honorary Officer
7 Maurice Lawson Board Member
8 Anthony Woolf Honorary Officer
9
10
11
12
13
14
15
16
17
18
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
Gerald Cowan
Jack Album
Richard Collings To 20 [th] September 2023
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April 2009

TAR

1

Names and addresses of advisers (Optional information)

Type of adviser Name Address
Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Trust Deed

How the charity is constituted

Trust

Trustee selection methods Elected at AGM

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

To conduct the affairs of the Society, to provide religious services conducted in the manner authorised by the Very Reverend the Chief Rabbi of the United Hebrew Congregations of the Commonwealth. To maintain a Minister insofar as reasonably prudent financial management permits and to advance the interest of the Jewish community of Reading and the surrounding areas.

April 2009

TAR

2

The Trustees have given consideration to the matter of Public Benefit at meetings of the Board of Management.

In order to fulfill these requirements, we continue our objectives of outreach into the wider community and we contribute to many local interfaith activities and have representation on many groups, as this assists in the advancement of the interests of the Jewish Community.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additionally, to advance the interest of the Jewish community in Reading we expect to be able to continue to offer open days for schools at the synagogue, which links with national curriculum requirements. Our members of the community also go out to schools to give talks on a variety of subjects.

To provide a place for religious services we maintain a purpose-built Grade 2 listed building, which is mentioned in the Jewish Heritage document entitled “Synagogues at Risk”.

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

April 2009

TAR

3

Section D Achievements and performance

Summary of the main achievements of the charity during the year

We continued to provide religious services conducted in the manner authorised by the Chief Rabbi of the United Hebrew Congregations of the Commonwealth.

Following the successful roof repair project on the Synagogue completed in a previous year, we continue to monitor the condition of the roof, and we continue to monitor the building generally, to take care that its condition is maintained appropriately. We ensure that the building continues to serve its purpose as a centre for the Jewish community of the area, and in connection with our charitable purposes. We continued to promote education for adults.

The Welcome Days for schools in support of community cohesion has had to be suspended although we do have visits from schools, youth groups and other organisations. Members visit schools to speak about Judaism.

April 2009

TAR

4

Section E Financial review

The trustees are mindful of the need to protect and maintain the primary Brief statement of the objects of the charity, namely to provide religious services and to advance charity’s policy on reserves the interest of the Jewish community of Reading and surrounding areas, as well as to generally conduct the affairs of RHC in accordance with reasonably prudent financial management for the benefit of its wide community of members. However, in response to its significantly reduced, and still declining, size of community the charity takes care to mitigate its ongoing annual operating costs, in order to ensure that it can responsibly continue to promote those objects into the foreseeable future and ultimately for as long as the need exists for its charitable services. Having regard to the longer term need to maintain its central synagogue premises, which is a listed building in excess of one hundred years old, the Trustees are mindful of potentially substantial maintenance and renewal expenditures which may be required at short notice and of unknown amounts. This circumstance creates a substantial additional risk which the Trustees are vigilant to ensure that they can cover from reserves when and if the need should arise. As well as the need to hold substantial protection for unknown and unquantifiable synagogue building issues, RHC ultimately may have the need to contribute a sum to finalise burial arrangements. Again, the actual amount required and the timing of that cannot be known with accuracy at this time. Reserves may also be used to support religious services and modestly improve the infrastructure of the synagogue, subject to continual review of the reasonable needs of the declining community. The reserves will be held partly as cash deposits generating interest income, and partly invested in suitable professionally managed funds generating investment income. The relative mix of these reserves will be reviewed and adjusted by the Managing Trustees as they judge most suitable from time to time, but always subject to the need to maintain adequate cash resources to deal with unpredictable short-term needs, as well as maintaining adequate total reserves to deal generally with longer term plans and requirements. The overall level of reserves will be kept under review each year, having regard to the factors mentioned, and also having regard to the continually rising level of maintenance and renewal costs as impacted further by levels of inflation generally. Details of any funds materially in deficit

Section F Other optional information

April 2009

TAR

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Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Anthony Larry Woolf Position (eg Secretary, Chair, etc)[Hon Treasurer ] Date 30th June 2024

April 2009

TAR

6