CHARITY NUMBER: 222277 Birmingham Hebrew Congregation and Charitable Institutions Consolidated Financial Statements for the year ended 31 December 2023 Birmingham Hebrew Congregation and Charitable Institutions Contents of the Consolidated Financial Statements for the year ended 31 December 2023 Page Charity Information Report of the Trustees Report of the Independent Auditor5 Consolidated Statement of Financial Activities Consolidated Balance Sheet io Charity Balance Sheet li Notes to the Consolidated Financial Statement5 Birmingham Hebrew Congregation and Charitable Institutions Charity Information KEY MANAGEMEfrn PERSONNEL: Trustees and Senior Management Team TRUSTEES: Mr G Bloom ILMI ITrea5urerl IEMI Mr J S Leek IEMI Dr A C White Mrs L Bushell Mr S Newman Mr J Lang Ms L Myers Mr B Shaffer Mr J 8ushell Mr P Marks Mr 8 Johnson Mr S Bushell ILMI- Life member (EMI- Executive member SENIOR MANAGEMENTTEAM: Rabbi Y Jacobs I Wilkes ADDRESS: Singer5 Hill Ellis Street Birmingham BI IHL REGISTERED CHARITY NUMBER: 222277 AUDITORS: UHY Hacker Young18irminghaml LLP Registered Auditors 9.11 Vittoria Street Birmingham BI 3ND BANKERS: Handelsbanken 55 Calthorpe Road Ed8baston Birmingham CUSTODIAN TRUSTEE.. Birmingham Hebrew Con8regation Properties Limited Whosè Dirertors are= Mr G Bloom MrJSLeek Mr L O Bushell Birmingham Hebrew Congregation and Charitable Institutions Report of the Trustees for the year ended 31 December 2023 The Trustees present their annual report and audited consolidated financial statements for the year ended 31 December 2023 and tonfirm they comply with the Charities Act 2011. the Trust Deed, Charities SORP 2019 and The Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021 IEffective I january 20191. STRUCTURE, GOVERNANCE AND MANAGEMENT The Birmingham Hebrew Congregation is a registered charity Ino. 2222771 and is set up under its constitution and rule5. The members of the management council, who are also the Trustees, who served during the year are set out below. The council meet on a regular basis to manage the affairs of the charity and to formulate policy. The senior management team oversees the d3Y to day operations of the charity in liaison with the Treasurer and Executive. Mr G 81oom MrJSLeek Dr A C White Mrs L Bushell Ms S Blumenthèl Ireslgned l October 20231 Mr S Newman Mr l Lang Ms L Myers Mr B Shaffer Mr l Bushell Mr P Marks Mr B Johnson Mr S Bushell Pay Pollcy for Senlor Staff The pay of the senior staff is reviewed annually and in view of the nature of the charity, the Trustees benchmark remuneration a8ainst pay levels in other organisations of similar size. The remuneration benchmark is the mid-point of the range paid for similar roles. Where recruitment has proven difficult in the past a market addition has a150 been paid with the pay maximum no greater than the highest benchmarked salary for a comparable role. OBJECTIVES AND AcfiviTIES The objects of the charity shall be to promote the Jewish religion for the public benefit by all or any of the following means.. The provision and maintenance of a synagogue for prayer and to further and encourage the practice of Orthodox Judaism as prescribed by the office of the Chief Rabbi. To create and develop social and cultural activities for all ages for its membership and also to the wider Jewish Community of Birmingham and the West Midlands. To create programmes of Jewish learning In wnjunction with other l>odies to further aid and strengthen the prartice of Orthodox judaism. To provide and maintain two cemeteries at Witton and Brandwood End for the burying of jewish deceased. To maintain and develop relationships with other non Jewish religious leaders and communities. To aet as the Foundation body of the King David School. Birmingham Hebrew Congregation and Charitable Institutions Report of the Trustees for the year ended 31 December 2023 STRATEGIC REPORT Achievements and Perforrnance The synagogue has continued to provide a full schedule of well attended daily. Sabbath and Festival prayer services. In addition, it has held a baby blessing Se￿i(e. monthly Se￿iceS for the children and confirmation Se￿1£eS for boy and girls marking their coming of age. A special Adult 83tmitzv3h Iconfirmation for women) celebration service was held in February for women who had not been fortunate enough to have had a Batmitzvah at aged 12. The social and cultural activities programme was busy wrth, amongst other things, Sight5eers' Club visits to Bournemouth and Dublin. Film Club evenings showing films of Jewish interest, bi-weekly Coffee, Cake and Chat sessions together with 3 programme of Sabbath eve, Rosh Hashana eve and Passover Eve dinners. Programme5 of Jewish learning continued with Torah Tot5 for pre-school children, Hebrew classes and Chai Club for school aged children and a full programme of events for teenagers. The children's learning achievements were celebrated with a prize day. Adult education was delivered with bi-weekly Lunch and Learn sessions for men and Ladles Shiurim Ilessonsl. The cemeteries at Witton and Brandwood End were maintained to the required standards throughout the year. In December, surplus land lor future burlals at 8randwood End cemetery was sold to a local Muslim burial soclety. The synagogue developed relationships with other non-lewish religious leaders and communities through its programme of hosting school parties led by qualified guides tourin8 the synagogue. Some 5.000 children and their teachers participate in these tours each year. The synagogue also runs tours for adult groups. The Rabbi sits on the cltvs Faith Leaders. Group whlch. until recently, he chaired. The synagogue continued to support the Kind David Jewish khool as the Foundation body, receiving reBular reports on activities at the school and contributing to the running of the school through its Foundation Governors. Future Plans The Council and Executive continue to review and consider members needs and views providing activities and meeting faeilitles, where required, to the relevant age profile of our membership and in particular attracting younger familie5. We are committed to continually developing virtual services, which now run in parallel to in person services, as It has become apparent that it offers 8reater appeal across the age range. FINANCIAL REVIEW The Statement of Financial Activities for the year shows an incre3se in reserves of E695,396 for the year, this is due to the sale of cemetery land which generated a surplus of £757,071. The senior management team are monitoring the overheads to ensure that the budgets are appropriate and that the charity is still able to SUPPOrt the communitv. The Executive are continuing to look for ways of generating additional income and new members. The congregation continue to contribute to specific appeals as well as supporting the social and religious events. The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that Systems have been established to enable regular reports to be produced $0 that the necessary step5 can be taken to lessen these risks. Birmingham Hebrew Congregation and Charitable Institutions Report of the Trustees for the year ended 31 December 2023 The Trustees, policy is to protect the charrt￿5 capital by investing in low risk investments whilst maximising income as far as possible. The portfolio of investments is being reviewed against the above poliry. The Trustees regularly review the free reserves available to meet day to day expenses. Going Concern After making appropriate enquiries, the board of Trustees has a reasonable expectation that Birmingham Hebrew Congreg3tion and Charitable Institution5 has adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Statement of Accounting Policies. Trustees ResponsSbllltles In relatlon to the flnancial statements Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. Under that law the Trustees have elected to prepare their accounts in accordance with The Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021 (Effective l January 20191. In preparing those financial statements, the Trustees have: selected suitable accounting policies and then applied them consistently.. made judgements and estimates that are reasonable and prudent.. stated whether applicable accounting standards have been followed. subject to any material departure5 disclosed and explained in the financial statements,. and prepared the financial statements on the going concem basis. The Trustees have overall responsibility for ensuring that the charity has appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accountin8 records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with the Charities SORP 2019. Statemeni as to Olsclosure of InlormalSon lo Audltors In so far as the Trustee5 are aware at the time of approving our Trustees, annual report: there is no relevant information, being needed by the auditor in connection with preparing their report, of which the auditor is Ltnaw3re the Trustees, having made enquiries of fellow Trustees and the auditor that they ought to have Individuallv ta have each taken all steps that helshe is obliged to take as a Trustee in order to make them5elve5 aware any relevant audit information and to establish that the auditor is aware of that information. of the ouncil G Bloo 22 September 202 Birmingham Hebrew Congregation and Charitable Institutions Independent Auditorfs Report to the Members of Birmingham Hebrew Congregation and Charitable Institutions as at 31 December 2023 Opinion We have audited the financial statements of Birmingham Hebrew Congregation and Charitable Institutions (the 'parent charity'l and its subsidiaries (the 'group'l for the period ended 31 December 2023 which comprise group and parent charity statement of financial activities and notes to the financial statements. including signifitant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including FRS 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and of the parent charitrfs affairs a5 at 31 December 2023 and of the group's incomin8 resource5 and application of resources, including its intome and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our aLtdit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statement is appropriate. 8ased on the work we have performed. we have not ideniified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the group or parent charitable company's ability to continue as a goin8 concern for a period of at least twelve months from when the finantial statements are authorlsed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprise5 the information included in the annual report other than the financial statements ènd OLtr auditor's report thereon. The trustees are responsible for the other information contained within the financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing w, consider whether the other information is materially inconslstent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misst3ted. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements OT a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Birmingham Hebrew Congregation and Charitable Institutions Independent Auditorfs Report to the Members of Birmingham Hebrew Congregation and Charitable Institutions as at 31 December 2023 Oplnions on other matters prexribed by the financial statements In our opinion, based on the work tjndertaken in the course of our audit: the information given in the strategic report and the trustees, report for the financial year for whith the financial statements are prepared is consistent with the financial ststements.. antl the strategic report and the trustees. report have been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and under5tandin8 of the group and the parent charity and its environment obtained in the course of the audit. we have not identified material misstatements in the strategic report or the tru5tees' report. We have nothing to report In respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion.. adequate accounting records have not bÈen kept by the parent charity. or return5 adequate for our audit have not been received Irom branches not visited by vs,. or the parent charity financial statements are not in agreement with the accounting record5 and returns,. or certain disclosures of trustees, remuneration specified by law are not made: or we have not received all the information and explanations we require for our audit. Re5ponslbllltles of trustees As explained more fully in the trustees. responsibilities statement Set out on page 4, the trustees are responsible for the preparatlon of the financial statements and for being satisfied that they give a true and fair view, 3nd for such internal control as the trustees determine is necessary to enable the preparation of financial statements that ore free from material mi5Statement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the group's and the parent charity's abllity to conlinue as a going concern, disclosin& as applicable. matters related to 80ing concern and uslng the going concern basi5 of accounting unless the trustees either intend to liquidate the group OT the parent charity or to cease operations, or have no realistic alternative but to do 50. Auditor's responslbllitles for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and 8re considered material if, Individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mi5Statements in respect of irregulèrities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Based on our understanding of the Eroup and the sertor in which it operate5. we identified that the principal risks of non-compliance with laws and regulations related to the acts by the group. which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial Statements. We 31so considered those law5 and regulations that have a Ilirect impact on the preparation of the financial statements such as the Charities Act 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements lincluding the risk of overfide of controls). and determined that the principal risk5 were related to inflated revenue and the group's net income for the year. Birmingham Hebrew Congregation and Charitable Institutions Independent Auditorfs Report to the Members of Birmingham Hebrew Congregation and Charitable Institutions as at 31 December 2023 Audit procedures performed included-. review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and report5 to the regulators. including correspondence with the Charities Commission review of correspondence with legal advisors. enquiries of management and review of internal audit reports in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material mi5Statement due to fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations 15 from the events and transactions reflerted in the financial statements, the less likely we would become aware of it. Also, the risk of not deterting a materral misstatement due to fraud is higher than the risk of not detecting one resulting from error, as frèud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. As part of an audit in accordance with 1SAs IUKI, we exercise professional judgment and maintain Professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, for8ery, intentional omissions. misrepresentations, or the override of internal Control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. Evaluate the appropriatene55 of accountin8 policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concern basi5 of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that May cast significant doubt on the group'5 or the parent charitv's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evFdence obtained up to the date of our auditor's report. However, future events or conditions may cause the Broup or the parent charity to cease to continue as a 8oinB concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transartions and events in a manner that achieve5 fair presentation. We communicate with those charged with 8overnance regarding. among other matters. the planned scope and timing of the audit and significant audit findings, inclu(Jin8 any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the group and charity's members. as a body. in accordance with Section 144 of the Charities Act 2011 and report in accordance wilh regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the parent charity and 8roup's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the parent charity and the parent charity's members as a bodv, for our audit work, for this report, or for the optnions we have formed. Malcolm Winston. Senior Statutory Auditor UHY Hacker Young IBirminghaml LLP, Statutory Audltor 9-11 Vittoria Street, 8irmlngham, Bl 3ND Date: Birmingham Hebrew Congregation and Charitable Institutions Consolidated Statement of Financial Artivities for the year ended 31 December 2023 Unrestrirted Deslgnated Restricted Funds Funds Funds Total Funds Total Funds Notes 2023 2023 2023 2023 2022 Incomlng resources: Incoming resourcesfrom generotedfunds.'_ Membership fees Gift Aid t8x receipts Legaeies Donations Car Park Fees Investment income Rents recelved Activities for generating funds Incoming resourcesfrom choritoble octivities.- Bereavement activities I￿,954 19,106 100,954 19,106 110,255 18,237 78.561 16,114 96,371 1,506 82,105 97,706 8.687 122,844 2,841 64.876 74,393 2,711 11.398 122,844 2,841 74.836 76,691 9,960 2,298 147,057 147,057 221,322 Total incoming resources 393,701 2,711 159.315 555,727 722,177 Resources expended: Cost of generating funds Charitable activities Governance costs 80.234 319,623 52,169 80.234 498,378 59,178 108,784 481,314 61,921 12,OlXI 166.755 7,009 Total resources expended 452,026 12,OCK) 173,764 637,790 652,019 Net Incomln81(outiolngl resources Surplus on disposal of assets 158.3251 19,2891 114.4491 182.0631 70.158 757,071 757,071 Net Incomlngl{outgolngl resources before transfer5 698,746 19.2891 114.4491 675,008 70.158 Transfers between funds 112.OLTh)I 12.OCN) Net movements In funds 686,746 2.711 114,4491 675,008 70,158 Gainlllossl on value of investments Revaluation of investment properties li 12 4,101 25.1N)O 4,101 25,000 116,1711 20,000 Net movements in funds before tax 715,847 2,711 114,4491 704,109 73,987 Taxation 11301 11301 12301 Net movement In funds after tsx Reconciliation of funds Total funds brought forward 715,717 2,711 114,4491 703,979 73,757 1.146.808 376.951 620.204 2,143,963 2,070,206 Total funds carried forward 16 1.862.525 379.662 605.755 2,847,942 2,143,963 All of BirminEham Hebrew Congregation and Charitable Institutions activtties derive from continuing operations during the above two financial periods. The notes form part of these financial statements. Birmingham Hebrew Congregation and Charitable Institutions Consolidated Balance Sheet as at 31 December 2023 GROUP 2023 2022 Notes FIXED ASSETS Tangible assets Investments io 643.049 43,206 1,385,CN)O 2,071.255 704,914 57,660 1,360,000 2.122.574 li 12 Investment property CURRENT ASSETS Debtor5 Cash at bank 13 57,264 971,287 1,028,551 99,221 ISO,759 249,980 CREDITORS Amounts falling due within one year 14 1186.4471 1164,9751 NETCURRENT ASSETS 842,104 85,005 2,913,359 2,207,579 CREDITORS Amounts falllng due after more than one year Is 165,4171 163,6161 NET ASSETS 2,847,942 2,143,963 RESERVES General funds (including fair value reserve of £1.044.2531 Desi8nated funds Restricted funds 1,862,525 379,662 605,755 1,146,808 376,951 620,204 16 2,847,942 2,143,963 The financial statement5 were approve(i by the Board of Trustees on 22 September 2024 and were signed onitsb JLeek.T st The notes on pa8es 11 to 22 form part of these financial statements Birmingham Hebrew Congregation and Charitable Institutions Charity Balance Sheet as at 31 December 2023 io CHARITY 2023 2022 Notes FIXED ASSETS Tangible assets Investments io 387,048 43,207 1,015,000 1,445.255 376,504 57.661 1,030,000 1.464.165 li 12 Investment property CURRENT ASSETS Debtors Cash at bank 13 55,272 966,046 1,021,318 79,878 140,510 220.388 CREDITORS Amounts falling due within one year 14 {153,3051 1121,2441 NET CURRENT ASSETS 868,013 99,144 2.313,268 1,563,309 DEBTORS Amounts falling due after more than one year 13 395,110 471,408 CREOITORS Amounts falling due after more than one year 15 110.9981 18731 NET ASSET5 2.697,380 2,033,844 RESERVES General fund5 lincludin8 fair value reserve of £898,813> Designated funds Restricted funds 1.711,963 379.662 605,755 1,036,689 376,951 620,204 16 2,697,380 2,033,844 The financial statements were approved by the Board of Trustees on 22 September 2024 and were signed onitsb JLeek-Tr ste Birmingham Hebrew Congregation and Charitable Institutions Notes to the Consolidated Financial Statements for the year ended 31 December 2023 ACCOUNTING POLICIES General Information Birmingham Hebrew Congregation and Charitable Institutions is a group comprising one unincorporated charitv; arbd two incorporated subsidiaries limited by shares and registered with Companies House. Birmingham Hebrew CongreEation and Charitable Institutions is registered with the Charitie5 Commission in England and Wales under charity number.. 222277. It operates from its re8lStered office of Singers Hill. Ellis Street, Birmin8ham, Bl IHL. The principal activity is the promotion of the Jewish religion for the public benefit. li Basls of Preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their 3ccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191 Charities SORP 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Goln8 Con¢ern The trustees assess whether ihe use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue a5 a going concern. The worldwide outbreak of the COVID-19 virus has affected the way the charity operates and has had an impact on the charity's income. however, costs have also reduced and the trustees believe that the 80ing concern basis 15 Still appropriate. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. ConsolSdated accounts The trustees have chosen to prepare consolidated accounts incorporating the activities of BHC Car Parks Limited for the year to 31 December 2023and the transactions with Birmingham Hebrew Con8re8ation Properties Limited for the year to 31 December 2023. Income Income includes donations received, fees charged lor membership. funeral services and car park rental. All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured Teliably. Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economie benefit to a third party. it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribLtte to more than one activity and support costs which are not attributable to a single activity are apportioned between th05e activities on a basis consistent with the use of resources. Staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Birmingham Hebrew Congregation and Charitable Institutions Notes to the Consolidated Financial Statements for the year ended 31 December 2023 12 ACCOUNTING POLICIES (continued) Govemment grants Grants received under the various Covid-19 measures are recognised using the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable. A grant that imposes future performance-related conditions is recognised in income when the performance-related conditions are met. Any grants received before the revenue recognition criteria are satisfied are recognised as a liability. Tan8lble flxed assets The trustees consider that the freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. A5 a result. the corresponding depreciation would not be material and Is, therefore, not charged in the Statement of Financial Activitie5. Depreciation is provided at the following annual rates in order to write off each of the other assets over their estimated useful life. Freehold property improvements Fixtures and fittings Motor Vehicles 10 years - 20% and 33% on cost 25% reducing balance Investment Property Investment properties for which fair value can be measured reliably without undue c05t or effort are measured at fair value at each reporting date with changes in fair value reco8nised in profit or loss. For the purposes of clarity, as this surplus or deficit is not realised. the amount is noted (net of any deferred tax provision arising on the surplus or defrcitl against the general fund. Investments Fixed asset investments are a form of financlal instrument and are initially recognised at their transartion cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it Is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'net 8ain5 on investment, in the statement of financial activities incorporating income and expenditure account. Debtors Trade and other debtors are recogni5ed at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at Bank and In Hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar actount. Llabilltles and Provlslons Liabilities are recogni5ed when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it mLSSt provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Birmingham Hebrew Congregation and Charitable Institutions Notes to the Consolidated Financial Statements for the year ended 31 December 2023 ACCOUNTING POLICIES {contlnued) Flnancial Instruments 13 The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrument5 are initially recognised at tr8nsaction value and subsequently measured at their settlement value with the exception of bank loans which are SLtbsequently measured at amortised cost Using the effective interest method. Restrirted and Unrestrfcted Funds General funds are unrestricted funds which are available for use at the dI￿retIOn of the trustee5 in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestrirted fund5 that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cosi of raising and administering suth fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial stalements. Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or bosses arising on the investments form part of the fund. Penslon Costs The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are writlen off against profits in the year they are paid. INCOMING RESOURCES Unrestrlcted Restrlrted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 Actlvltles for 8eneratln8 funds Functions and activities income School visits 26.170 26,170 65,289 15,874 16,543 25.275 25,275 25.246 Other income 22.948 2.298 74.393 2,298 76,691 97,706 BEREAVEMENT ACtIVlTIES 2023 2022 Bereavement charge$115 funerals- 2022.. 24 funerals) Additional charges Stone setting charges Reservations fees 131,108 1,569 200,070 2,553 15,999 12,580 1,800 2,700 147,057 221,322 Birmingham Hebrew Congregation and Charitable Institutions Notes to the Consolidated Financbal Statements for the year ended 31 December 2023 14 RESOURCES EXPENDED Unrestrlrted Designated Restricted Funds Funds Funds Total Funds Total Funds 2023 2023 2023 2023 2022 Costs of generatlng funds Promotion and hospitality Functions costs linc Chai Club & Torah Totsl Car Park Maintenance Visiting officials for services Moseley- Costs of Service5 linc caretaker fees £2,012= 2022 -£1,974) 24.045 35.382 5,163 9,264 6.380 24.045 35.382 5.163 9,264 6,380 21,643 68,305 1,975 12,110 4,751 108 784 Charltable actlvltles Staff costs Funeral Costs Cemetery management fees Motor and travelling expenses Telephone Postage Printing and stationery Computer running expenses Sundry expenses Bad debts Light, heat 8nO water Cleaning, caretaking and security Expense5 of residence5 Repairs and maintenance Synagogue buildings 8JEB/KDRES Grants and donations paid Bank charges Bank loan interest Hire purchase interest Depreciation Profit on disposal of assets 134,564 59,272 18,772 55,020 1,456 I,￿3 193,836 18.772 55.020 14,883 5,794 1,706 3,977 9,450 11,577 14,4821 46,188 15,122 75,023 198,519 29,298 50,435 15,424 6,029 1,355 5,250 8,738 13,191 8,496 25,451 11,988 59,067 13.427 4.791 1.706 3,977 9,450 11,577 14,4821 43,791 14,940 57,334 2.397 182 17,689 17.889 10,914 28,803 12,000 23.356 12,000 12,CQO 1.297 5,183 1,363 9.890 17.0741 319,623 50 1,347 5,183 1,363 9,890 17.0741 498,378 1,359 3,324 393 7.641 12.000 166,755 481,314 Governan¢e