REGISTERED CHARITY NUMBER.. 231853 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 FOR OXFORD JEWISH CONGREGATION Bronsens Chartered Certified Accountants Eden House Two Rivers Buslness Paik Wilney Oxfordshire OX28 4BL
OXFORD JEWISH CONGREGATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Pagè Reference and Admlnlstratlve Detalls Raport of the Trustees Independent Examiner's Report statement of Financial Activities Balance Sheet NotOS to tha Financial Statements 7 10 13 Detailed Statement of Financlal Actlvltles 14 to 15
OXFORD JEWISH CONGREGATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023 REGISTERED CHARITY NUMBER 231853 PRINCIPAL ADDRESS 21 Richmond Road Oxford OX12JL TRUSTEES Council members The following served as Council members and Trustees during the year.. Presldent: Prof. M Goodman Treasurer: Ms J Shatz Secretary". Ms S Montagu Council members: Dr G Blumberg Dr T Davison Mr B Freilich C Goldstein Mr J Kaye Mrs K Shock MrJ. Morris Ms Y Parnes MrA Samuel Ms S Sheppard Mrs J Silver Ms L Gordon Mr M Simon - appointed 12 September 2023 All elected members of Council are Trustees of Council for the purposes of the Charity Commission. The Treasurer is responsible for the co-ordination of the adminislralion of the Trust, correspondence, maintenance of financial records, expenditure payments and monitoring estimates of income and expenditure, cash flow and reporting the day-lo-day activities lo the Trustees and other members of the Council. INDEPENDENT EXAMINER Bronsens Chartered Certified Accounl8nls 6 Langdale Court Wilney Oxfordshire OX28 6FG INVESTMENT ADVISERS J. M. Finn & Co 4 Coleman Street London EC2R STA
OXFORD JEWISH CONGREGATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023 The trustS present their report with the financial statements of the charity for the year ended 31 July 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20151. STRUCTURE, GOVERNANCE AND MANAGEMENT Govarning document The charity was formed under a Deed of Conslilulion dated 22 June 1978, slightly amended (for practical reasons) on 19 Dember 1993 and 11 December 1994 and thoroughly revised and amended on 25 January 2015, to carry out the activities described below. Organisational structure The Oxford Jewish Congregation IOJCI is managed by a Committee of Trustees, known as the Counal, and comprising the honorary offIrS, elected annually by the membership, together with other elected and coopted members. Council members in 2022-2023 are listed above. Members of the Congregation pay annual subscriptions al one of several rates. depending on circumstances, as well as any additional donations which they see fil lo make. The Trustees delegate investment authority and management lo an Investment Committee, the members of whlch may or may not be Trustees. The Investment Committee reports regulatly lo the Council. Rlsk management The trustees carry out regular reviews of the activities of the chatity and of the systems in use. This is for the purpose of planning for the future and assessing and managing any major risks likely to affect the i)peralion of the trust. The Trustees are satisfied that systems are In place lo Migate exposure lo major risks. OBJECTIVES AND ACTIVITIES Objectivès and aims The objects of the charily include the advancement of the Jewish religion by the maintenance of Religious SeNices and Hebrew and Religion Classes,. other activities lo promote the weKare of the Jews of Oxford and its surroundings,. and other charitable purF)oses, such as a kosher meals service for Jewish students and aducalion about Jewish affairs among the general population. Its religious services (including burial arrangements} and membership are available lo all those of the Jewish faith. It nominates three of the directors of the Oxford Synagogue and Jewsh Centre Limited IOSJCLI,. the Chairman of the OSJCL Management Committee allends meetings of ils Council by invilalion. The Trustees have continued lo mainlaln their aSms and objectives as outlined above and described in the body of this Annual Report. Ensuring we meet our aims The Trustees review the aims, objectives and activities each year. We look al what we have achieved in terms of the success of each key activity and the benefits we have brought lo the community. This review also helps us lo ensure our aims. objectives and activities remain focussed on our slated purposes. We have referred lo the guidance contained in the Charity Commission's general guidance on public benefil when reviewing our aims and objectives and in planning our future aclivilies. In particular the Trustees consider how planned activities will contribute lo the aims and objectives we have set. Significant activities Religious services for several denominalions have continued lo run through the year, adapled as required by the restriolions imposed by the pandemic. Educational ServIS for both adults and children have continued, both in person and on-line. Activities lo promote the welfare of the Jews of Oxford and the wider area have been conducted in many different fields. These include hospital visiting and a lea-lime dub for older members. Outreach lo the wider community has continued lo be an area of strength, not only through the education pwramme both al schools and for visiting parties of all ages, bul also in the maintenance of the communitys deep involvement in Interfaith work in the Oxford area.
OXFORD JEWISH CONGREGATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023 Grantmaking The Iruslees have the discretion to make grants lo OSJCL towards the running costs of the Oxford synagogue buildings in which these activities lake place. The Iruslees also have the discretion to m8ke grants for any other purpose that they fegl fits in wilh the charity's objectives. Volunleers Tho Iruslees gratefully acknowledge the contribution of the many volunteers withoLsI whose efforts the pr(raMMe of activities would not be possible. ACHIEVEMENT AND PERFORMANCE Charltable a¢tivitio$ The OJC has had a successful year in furthering the aims of the charity's objectives through ils diverse activilies. The resu51s for the year are set oul in the slalement of financial activities on the followng pages. FINANCIAL REVIEW Investment policy and objectives The Trustees. inveslrnenl powers are slated in the Trust Deed. As al 31 July 2023, the Charity held investments valued al £997,084 (2022.. £1,160.2321. Reserves pollcy The trustees regularfy review the company's financial position to ensure that sufficient reserves are hekl lo meet any foreseeable liabilities and commitments. Financial Position Total incoming resources for the year amounted lo £280,298 12022., £237,566). Total expenditure for the year was £274,16512022.. £280.9611. Net losses on investment assets were £142,06912022- £83,851) giving a defiot for the year of £135.93812022'. £127.2461. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Charity is controlled by governlng docLJment. a deed of trust and constilules an unincorporated charity. .-L Zo3and signed on ils behalf by.. Approved by order of the board of Iruslees on Ms S Monlagu (Secreta ruslee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OXFORD JEWISH CONGREGATION Independent examlnerfs report to the trustees of Oxford Jewlsh Congregatlon I report lo the charity trustees on my examination of the accounts of Oxford Jewish Congregation Ilhe Trust) for the year ended 31 July 2023. Responslbilitles and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Chartlies Act 2011 {'Ihe Acl'l. I report in respect of my examination of the Trusfs 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)Ibl of the Act. Independent examlnerfs statement Since your charity's gross income exceeded £250,000 your examiner mu81 be a member of a lisled body. I can confirm that l am qualified lo undertake the examination because l am a member of the Inslilule of Chartered Accounlanls in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm Ihal no material mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect. accounting records were not kept in respect of the Trust as required by Section 130 of th8 Act., or the a¢counls do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts sel 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 maller considered as part of an independent examination. I have no concems and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reaohed. Philip J Burton FCA The Inslilule of Chartered AGcounlanls in England and Wales Bronsens Chartered Certified Accounlanls Eden House Two Rivers Business Park Wilney Oxfordshi OX28 4BL Dale:
OXFORD JEWISH CONGREGATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 31.7.23 Total funds 31.7.22 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 232,135 14,456 246,591 204.361 Investment income 12,347 21,360 33.707 33.205 Total 244,482 35,816 280,298 237,566 EXPENDITURE ON Raising funds 3.237 4,931 8,168 9,669 Charitable a¢tivities Religious seNices and olher costs Grants paid 70,236 119,502 39,289 2,500 109,525 122,002 136,942 106,200 other 32,514 1,956 34.470 28,150 Total 225,489 48,676 274,165 280,961 Nel gainsJlk)ssesl on investments 148,3551 193,714) (142,0691 183,8511 NET INCOMEIIEXPENDITUREI 129,3621 {106,574) 1135,9361 {127,2461 RECONCILIATION OF FUNDS Total funds brought forward 444,982 762.135 1.207,117 1,334.363 TOTAL FUNDS CARRIED FORWARD 415,620 655,581 1,071,181 1,207,117
OXFORD JEWISH CONGREGATION BALANCE SHEET 31 JULY 2023 31.7.23 Total funds 31.7.22 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets Investments 10 11 13.580 388.379 18.645 608,705 32.225 997,084 16.362 1,160,232 401,959 627,350 1,029,309 1,176,594 CURRENT ASSETS Debtors Cash al bank 12 99,919 1,603 1,650 42,424 101,569 44,027 74,789 29,625 101,522 44.074 145,596 104.414 CREDITORS Amounts falling due wlhin one year 13 187,8611 (15,8631 1103.7241 173.891) NET CURRENT ASSETS 13,661 28,211 41,872 30,523 TOTAL ASSETS LESS CURRENT LIABILITIES 415,620 655,561 1.071,181 1,207.117 NET ASSETS 415,620 655,561 1,071,181 1,207,117 FUNDS Unrestricted funds Reslricled funds 14 415,620 655,561 444,982 762,135 TOTAL FUNDS 1,071,181 1,207,117 The financial statements were approved by the Board of Trusle8s and aulhorised for Issuè on and were signed on its behalf by= Prof M Goodman - Trustee rustee
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ACCOUNTING POLICIES Basis of preparlng the flnancial statements The financial slalemenls of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 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 ale included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once Ihe charity has enlillemenl lo the lunds, il is probable that (he 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 conslruclive obligation commilling the charity lo that expenditure, il is probable that a Iransfer of economic benefits will be required in selllemenl 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 laled lo the category. Where costs cannot be directly allributed to particular headings they have been allocated lo aclivilies on a basis consistent with the use of resources. Grants offered subject to conditions which have not been mel at the year end date are noted as 8 commitment but not accrued as expenditure. Allocatlon and apportionment of costs All expenditure is a¢¢ounled for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Where costs cannot be dire¢lly allribuled to particular headings they have been allocated to activities on a basis consislenl with use of the sours. Tangible fixed assets The charity paid a deposit for audio-visual equipment in the year. Depreciation will be charged from the period in which the asset is in use. Taxation The charity is exempl from lax on 115 charitable activities. Fund accountlng Unreslricled funds can be used in accordan with the charitable objectives at the discretion of the Iruslees. Reslricled funds can onty be used for particular restricted purposes within the objects of the charrty. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Fixed asset Investments Quoted fixed asset equity investments are included in the accounts at their market value al the balan sheet date. This gives rise lo unrealised gains and losses which are include on the fa of the statement of Financial Adivities.
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023 DONATIONS AND LEGACIES 31.7.23 31.7.22 Donallons Gift aid Legacies Subscriptions Security levy Burials Education Kiddush Hill End Kaytana George Silver Fund donations Kol Nidre Appeal donations Board of Depulles donations Cemetery upkeep donations Sundry income 13,920 35,268 11,700 105,073 12,813 25,585 9,386 880 2,950 2,120 2,275 3,765 5,110 10,000 5,746 12,002 29,000 84,696 8,240 45,549 4,997 1,165 1,740 2,215 2,220 4,687 4,560 3,290 246.591 204.361 Donations made under the h&adings George Silver Fund, Kol Nidre Appeal and Board Of Deputies are made by individual members of the Oxford Jewsh Congregations and are passed on in full lo the relevant charitable organisalion. These payments are part of the lotsl for religious expenditure shown in Note 5. INVESTMENT INCOME 31.7.23 31.7.22 Income from investrnenl portfolios Deposit account interest 33,610 97 33,197 33,707 33,205 RAISING FUNDS Investment management costs 31.7.23 31.7.22 Portfolio management 8,168 9,669
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2023 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note Direct Costs 61 Totals Religious services and other costs Grants paid 109,525 109,525 122,002 122,002 109.525 122.002 231,527 GRANTS PAYABLE 31.7.23 31.7.22 Grants paid 122,002 106,200 The totsl grants paid lo inslilulions during the year was as follows: 31.7.23 31.7.22 Grants to Oxford Synagogue & Jewish Centre Limited 119,502 103,200 The amount shown as pald lo the Oxford Synagogue and Jewish Centre Lirllited is the same as that celved by that charily in the period. The lolal grants paid lo individuals during the year was as follows.. 31.7.23 31.7.22 Education grants from the HH Posner Fund 2,500 3,000 SUPPORT COSTS Govemance costs Other resources expended 30,764 Support costs, included in the above, ale as follows-. OTHER 31.7.23 31.7.22 Oxford Menorah and OJC News Liberal Judaism Masorti Judaism Support costs 1,956 500 1,250 30,764 734 500 2,250 24,666 34,470 28,150
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. Trustees, expenses There were no Iruslees. expenses paid for the year ended 31 July 2023 nor for the year ende 31 July 2022. 10. TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 August 2022 Additions 16,362 15.863 At 31 July 2023 32.225 NET BOOK VALUE At 31 July 2023 32,225 At 31 July 2022 16.362 11. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 August 2022 Additions Disposals Revaluations 1,160,232 147,408 (184,7551 1125,8011 Al 31 July 2023 997.084 NET BOOK VALUE Al 31 July 2023 997.084 Al 31 July 2022 1,160,232 There were no investment assets outside the UK. The fixed asset investmen& are realisable on a short term basis and can be sold lo provide funds for charitable purposes as required.
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 JULY 2023 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.23 31.7.22 Other debtors Income tax recoverable 8.057 93,512 16,651 58.138 101.569 74,789 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.23 31.7.22 Other creditors Accrued expenses 77,437 26,287 52,603 21,288 103,724 73,891 other creditors represent amounts owed internally belween the General and HH Posner Funds. 14. MOVEMENT IN FUNDS Net movement in funds Al 31.7.23 At 1.8.22 Unrestricted funds General fund 444,982 (29,3621 415,620 Restricted funds HH Posnor Fund 762,135 1106,574) 655,561 TOTAL FUNDS 1,207,117 1135,936) 1,07fj,181 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and lossès Movement in funds Unrestricted funds General fund 244,482 1225,489} 148,3551 129,3621 Restricted funds HH Posner Fund 35.816 148.6761 (93,7141 1106,5741 TOTAL FUNDS 280,298 1274,1651 {142,0691 1135,9361
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023 14. MOVEMENT IN FUNDS-continued Comparatives for movemènt in funds Net movement in funds At 31.7.22 At 1.8.21 Unrestricted funds General fund 493,603 {48,6211 444,982 Restricted funds HH Posner Fund 840,760 {78,6251 762,135 TOTAL FUNDS 1.334,363 1127,2461 1,207,117 Comparallve nel movèment In funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrlcled funds General fund 207.547 1219.3451 {36.8231 148.6211 Restrlcted funds HH Posner Fund 30,019 161,6161 {47.0281 178.6251 TOTAL FUNDS 237,566 1280,9611 {83,8511 1127,2461 A current year 12 months and prior year 12 months combined p08ilion is as follows.. Nel movement In funds Al 31.7.23 Al 1.8.21 Unrestrlcted funds General fund 493,603 177,983) 415,620 Restricted funds HH Posner Furid 840,760 1185,199) 655,561 TOTAL FUNDS 1,334,363 1263,182) 1,071,181
OXFORD JEWISH CONGREGATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2023 14. MOVEMENT IN FUNDS- contlnued A CUTrenl year 12 months and prior year 12 months combined net movement in funds, incltjded in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 452,029 1444.8341 (85,1781 (77,9831 Restricted funds HH Posner Fund 65,835 1110,292} 1140,742} 1185,1991 TOTAL FUNDS 517,864 (555.126) 1225.920) 1263.1821 15. RELATED PARTY DISCLOSURES The were no related party transactions for the year ended 31 July 2023. 16. THE HH POSNER FUND Following the death of Henry Hyman Posner in 2007, the charity received a legacy in the form of a commercial investment property in Oxford. In October 2014 the property asset was sold for £664,188, realising a gain of £314,188 over the value allribuled tr> the original Posner bequest. After sellling legal fees lating lo the sale, the Trustees invested the balance of the proceeds in a separate portfolio of investments managed by JM Finn & Co. This asset 2nd income arising from il forms the basis of the Fund which is a restricted fund whose income is lo be used for edLJcalional purposes within the Oxford Jewish community. Timing issues mean that not 811 income from the reslricled capital may be expended wthin the period it is received. In the year ended 31 July 2023 investment income of £21,360 12022.. £21.0671 was received. Investment management costs were £4,93112022'. £5.809). Nel charitable expenditure was £27,333 {2022.. £32,789). This was made up of Hill End camp costs of £1,29512022'. £1,528), child education of £24,15412022.. £24,204), adult eduealion a surplus of £1,156 12022.. costs of £1,897), Kaytana a surplus of £810 12022'.costs of £1351, Mosaic costs of £1,350 (2022.. £2,025) and grants lo indlviduals and groups of £2,50012022.. £3.0001. Al 31 July 2022 the value of the HH Posner Fund stood at £655,561 {2022.. £762,135).
OXFORD JEWISH CONGREGATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 31.7.23 31.7.22 INCOME AND ENDOWMENTS Donations and lagacies Donations Gift aid Legacies Subscriptions Security levy Burials Education Kiddush Hill End Kaytana George Silver Fund donations Kol Nidre Appeal donations Board of Deputies donations Cemetery upkeep donations Sundry income 13.920 35.268 11,700 105,073 12,813 25.585 9,386 880 2,950 2,120 2,275 3,765 5,110 10,000 5,746 12.002 29.000 84.696 8,240 45,549 4,997 1,165 1,740 2,215 2,220 4,687 4,560 3,290 246,591 204,361 Investment income Income from inveslmenl porttolios Deposit accounl interest 33,610 97 33,197 33,707 33,205 Total incoming resources 280,298 237,566 EXPENDITURE Investment management costs Portfolio managerllenl 8,168 9.669 Charitable activities Religious services Burials Chlldrens, education Community affairs Kiddush Playshul Adult education Hill End expenses Kaytana Youth Group costs George Silver Fund payments Kol Nidre Appeal payments Board of Deputies payments Gatehouse Project payments Cemelery upkeep costs Carried forward 14,470 22,820 29.842 20.876 880 917 1,625 4.245 1.310 16,304 37,707 27.367 30.203 442 3.247 3,268 2,350 42 2,220 4,687 4,560 1,040 1,480 134,917 2.275 3,765 5,110 40 108,175 -$ 4k_
OXFORD JEWISH CONGREGATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 31.7.23 31.7.22 Charltable activities Brought forward Mosaic Grants lo Oxford Synagogue and Jewish Centre Limited Grants lo individuals 108,175 1,350 134,917 2,025 119,502 2,500 103,200 3,000 231,527 243,142 Other Oxford Menor8h and OJC News Liberal Judaism Masorti Judaism 1,956 500 1.250 734 500 2,250 3.706 3.484 Support costs Governance costs Accountancy Security costs Office administration Other expenses 4,140 10,340 6,577 9,707 4,320 9.028 8.566 2,752 30.764 24,666 Total resources expended 274,165 280,961 Net Incomel(expendlturel before galns and losses 6.133 143,3951 Realised recognlsed gains and losses Unrealised gainsl{lossesl on fixed asset inveslmenls Realised gainsl{lossesl on disposal of fixed asset investments {125,7491 178,9601 116,3201 14,8911 Net èxpenditure 1135,9361 1127,2461