**REGISTERED CHARITY NUMBER: 236663** 

## **Report of the Trustees and** 

**Audited Financial Statements for the Year Ended 31 December 2024** 

## **for** 

**South West Essex and Settlement Reform Synagogue** 

Prestons & Jacksons Partnership LLP Statutory Auditors 364 - 368 Cranbrook Road Ilford Essex IG2 6HY 



**South West Essex and Settlement Reform Synagogue** 

## **Contents of the Financial Statements for the Year Ended 31 December 2024** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 6|
|**Report of the Independent Auditors**|7 to 10|
|**Statement of Financial Activities**|11|
|**Statement of Financial Position**|12|
|**Notes to the Financial Statements**|13 to 25|
|**Detailed Statement of Financial Activities**|26 to 27|





**South West Essex and Settlement Reform Synagogue** 

## **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). 

Page 1 



**South West Essex and Settlement Reform Synagogue** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **OBJECTIVES AND ACTIVITIES Review of activities during the year** 

2024 was a year to continue stabilising the charity and continuing to plan for growth in membership numbers for SWESRS. Its staff and members were involved in various activities, much of which supported other SWESRS members, the local and wider Jewish community and the wider local community. Below is a list of some key activities in alphabetical order: 

**Adult Education:** Activities have included the Access to Judaism, Hebrew classes and Lunch & Learn sessions. The majority of these sessions were run via Zoom. 

**AHADA:** The synagogue encourages those who have recently been bereaved to use the services of AHADA Bereavement Counselling Service. AHADA also encompasses Empathy Counselling for those affected by separation and divorce. 

**Bnei Mitzvah Programme:** For our younger members in school years 7 and 8 - supporting them and their families through the process and education to become Bar or Bat Mitzvah at 13! Some of the young people have used their knowledge and Hebrew skills to help lead our Family Services. Several of our post bar and bat mitzvah students ha ve gone on to be excellent peer mentors and help run the programme. 

**Care4Calais:** Care4Calais is a charity run by volunteers, delivering essential aid and support to refugees, including those living in the UK. When asylum-seekers arrive in the UK, they are often housed in large hotels whilst waiting for their claims to be processed. An estimated 10,000 people are housed in 100 such properties around the UK as the lengthy backlog in asylum processing and lack of suitable housing exacerbates the issue. Here at SWESRS, we support Care4Calais by opening our building to provide social connection and mental wellness for refugees. Care4Calais gathers 30 adults and many children from three of the nearby hotels for games and activities. The SWESRS community collected fruit and sweet treats and wrote cards of good wishes for local refugees following the Soutport riots. 

**Care Team:** A small but caring team of volunteers who assist with pastoral support for some of our more needy congregants and, in some cases, non-members of SWESRS. 

**Choir:** The choir sing at most Shabbat morning services and other festivals, holding rehearsals on Tuesdays. They are looking to recruit more members. They usually sing at the LB Redbridge Holocaust Memorial Day event in Valentines Park. 

**ECAMPS:** In partnership with other local, Progressive and Masorti synagogues, SWESRS have been involved with joint services and events such as Tu B'Shvat Seder, Yom Hashoah, Shavuot and Tisha b'Av Service and Friday Night Services. 

**Festivals for Families:** Chanukah, Purim and Lag B'Omer were led by fantastic young family volunteers who helped bring in ove r a hundred families to celebrate with us. 

**Masonic Lodges:** SWESRS hosts two local masonic lodges. 

**New Essex Masorti Synagogue (NEMS):** NEMS hold their fortnightly Shabbat morning and festival services in the Seminar Room. When they have a Bar/Bat Mitzvah they use SWESRS prayer hall. They also hold other services, meetings and e vents at SWESRS. 

**Passover Seder Service:** SWESRS again held a Communal Seder Service - an intergenerational, family friendly traditional se rvice. 

Page 2 



**South West Essex and Settlement Reform Synagogue** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

**School Visits:** Again, a programme of school visits was put together for the 2024/25 academic year and 3 weeks were blocked out to host school visits - November, March, and June. By the end of 2024, just over 400 pupils, staff and parents had attended sessions, with at least 800 more booked for the following sessions. Some schools asked for visits by the Rabbinic team which were accommodated where possible. 

**Services:** We have been holding our regular Shabbat Morning Services. We also hold themed Shabbats, Kol Hamishpachot - Family Services, Musical Services, Erev Friday Night services and joint services with other ECAMPS communities for various festivals. Almost all of these including our High Holy Day services have been run as hybrid services from the synagogue building so that they can be in-person and via Zoom. This worship would not be possible without the dedicated wardening and technology teams, as well as our choir members. 

**Strategic Planning:** This is led by Sue Jackson and has continued building on previous years' work. 

**SWESRS Social and Community Group:** This group continues to offer a wide variety of in-person and Zoom events for a wide-ranging aud ience. 

**Table Tennis:** A weekly table tennis group meets at the synagogue. 

**Tots and Toys:** A weekly gathering for toddlers has been held at Clore Tikva Primary School on Friday mornings and run through SWESRS. Average attendance is around ten parents with little ones. Each morning ends with a practice Shabbat, complete with Bim Bam and challah. Thank you to Laura Davis and Samantha Bendon for helping lead these experiences. 

**Tuesday Lunch Club:** Lunches are held approx. 18 weeks a year with a speaker/entertainer programme organised for the community's senior members - this is open to the wider community and SWESRS members. This is highly popular with the numbers some weeks reaching over 60 and advanced booking essential! 

**U3A:** U3A (University of the Third Age) is a UK movement of retired and semi-retired people who come together to continue educational, social and creative interests in a friendly and informal environment. U3A groups have met and used SWESRS facilities for many years, providing activities for SWESRS members and many others from the wider Redbridge community and beyond. They are steadily increasing the activities they offer having moved almost all their Redbridge U3A groups to Oaks Lane. 

## **Public Benefit** 

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the Charity. 

Page 3 



**South West Essex and Settlement Reform Synagogue** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **FINANCIAL REVIEW** 

## **Financial Position** 

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. 

The financial statements have been prepared implementing the Charities Act 2011 and the Charities Financial Reporting Standard SORP FRS 102. As stated in the introduction to this report, the trustees consider the financial performance of the charity during the year to have been satisfactory. 

The Statement of Financial Activities shows incoming resources for the year of £461,586 (2023: £408,248) and outgoing resources of £484,939 (2023: £374,607), making a net overall deficit of £23,353 (2023: surplus of £33,641). Unrestricted funds amounted to £3,188,431 (2023: £3,241,557) while restricted funds amounted to £127,967 (2023: £98,194). Total reserves carried forward as at 31 December 2024 were £3,316,398 (2023: £3,339,751). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

236663 

## **Principal address** 

Oaks Lane Newbury Park Ilford Essex IG2 7PL 

Page 4 



**South West Essex and Settlement Reform Synagogue** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **Trustees** 

## **Permanent Trustees** 

The permanent trustees are Farrel Igielman, Ruth Cann and Karen Janice Dalton. The permanent trustees have the power to vest property on behalf of the synagogue and are the only trustees who can, for example, sign leases with tenants on behalf of South West Essex & Settlement Reform Synagogue. 

## **Elected Trustees as of 31 December 2024** 

Michael Dalton Paul Flanagan Lee Goldsmith Claire Hartley Ruth Konzon Steve Robbins Leah Biller (appointed on 14 July 2024) Jeff Fenton (appointed on 14 July 2024) Hayley Glassman (appointed on 14 July 2024) Sue Jackson (resigned on 14 July 2024) David Lawson (resigned on 14 July 2024) 

## **President as of 31 December 2024** 

Valerie Garnelas 

## **Life Vice Presidents as of 31 December 2024** 

Sheila Chiat Evelyn Dalton (Trustee) Bernard Davis Lucille Leaf Hugh Noble 

## **Officers/Trustees as of 31 December 2024** 

Lester Allen (Chair) Robert Young (Hon. Secretary) Sue Terpilowski (Hon. Treasurer) 

## **Auditors** 

Prestons & Jacksons Partnership LLP Statutory Auditors 364 - 368 Cranbrook Road Ilford Essex IG2 6HY 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Page 5 



**South West Essex and Settlement Reform Synagogue** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the board of trustees on ... `3` 0 October 202 `5` .......... and signed on its behalf by: 

................................................................. 

Trustee 

Page 6 



## **Report of the Independent Auditors to the Trustees of South West Essex and Settlement Reform Synagogue** 

## **Opinion** 

We have audited the financial statements of South West Essex and Settlement Reform Synagogue (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 requirements. 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 statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

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. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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. 

Page 7 



**Report of the Independent Auditors to the Trustees of South West Essex and Settlement Reform Synagogue** 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Page 8 



**Report of the Independent Auditors to the Trustees of South West Essex and Settlement Reform Synagogue** 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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 a Report of the Independent Auditors 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are 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. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to  provide a basis for our opinion. 

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Trustees about their own identification and assessment of the risks of irregularities, analytical procedures and sample testing of income, sample testing of expenditure, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

Page 9 



## **Report of the Independent Auditors to the Trustees of South West Essex and Settlement Reform Synagogue** 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Prestons & Jacksons Partnership LLP Statutory Auditors 364 - 368 Cranbrook Road Ilford Essex IG2 6HY 

Date: ............................................. 

Page 10 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Statement of Financial Activities for the Year Ended 31 December 2024** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>Other trading activities<br>3<br>Investment income<br>4<br>Other income<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>5<br>**Charitable activities**<br>6<br>Charitable activities<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>19<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**31/12/24**<br>Unrestricted<br>Restricted<br>**Total**<br>fund<br>fund<br>**funds**<br>£<br>£<br>**£**<br>**347,320**<br>**33,496**<br>**380,816**<br>**24,690**<br>**3,498**<br>**28,188**<br>**51,007**<br>**-**<br>**51,007**<br>**1,575**<br>**-**<br>**1,575**<br>**424,592**<br>**36,994**<br>**461,586**<br>**267,568**<br>**-**<br>**267,568**<br>**203,381**<br>**13,990**<br>**217,371**<br>**470,949**<br>**13,990**<br>**484,939**<br>**(46,357)**<br>**23,004**<br>**(23,353)**<br>**(6,769)**<br>**6,769**<br>**-**<br>**(53,126)**<br>**29,773**<br>**(23,353)**<br>**3,241,557**<br>**98,194**<br>**3,339,751**<br>**3,188,431**<br>**127,967**<br>**3,316,398**|31/12/23<br>Total<br>funds<br>£<br>356,157<br>153<br>51,938<br>-|
|---|---|---|
|||408,248|
|||168,369<br>206,238|
|||374,607|
|||33,641<br>-|
|||33,641<br>3,306,110|
|||3,339,751|



The notes form part of these financial statements 

Page 11 



**South West Essex and Settlement Reform Synagogue** 

## **Statement of Financial Position 31 December 2024** 

|Notes<br>**FIXED ASSETS**<br>Intangible assets<br>14<br>Tangible assets<br>15<br>**CURRENT ASSETS**<br>Debtors<br>16<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>17<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>19<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|**31/12/24**<br>**£**<br>**732**<br>**2,948,151**<br>**2,948,883**<br>**76,206**<br>**350,967**<br>**427,173**<br>**(59,658)**<br>**367,515**<br>**3,316,398**<br>**3,316,398**<br>**3,188,431**<br>**127,967**<br>**3,316,398**|31/12/23<br>£<br>915<br>2,956,303<br>2,957,218<br>26,719<br>384,474<br>411,193<br>(28,660)<br>382,533<br>3,339,751<br>3,339,751<br>3,241,557<br>98,194<br>3,339,751|
|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. Trustee 


............................................. Trustee 

The notes form part of these financial statements 

Page 12 



**South West Essex and Settlement Reform Synagogue** 

## **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. 

## **Going concern** 

The Board of Trustees have reasonable expectation that the Synagogue has sufficient reserves, ongoing membership subscriptions and good tenants to continue in operational existence for the foreseeable future. It is for this reason the accounts have been prepared on a going concern basis. 

## **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. 

## **Charitable activities** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that 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. 

Religious books are written off in the year of purchase. 

## **Religious artefacts** 

The synagogue has a number of religious artefacts which are shown as religious appurtenances in note 15, fixed assets at residual value. The insurance value of these religious artefacts are reviewed annually. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

|Freehold property|- not provided|
|---|---|
|Security, fencing and lighting|- 10% on cost|
|Religious appurtenances|- not provided|
|Fixtures and fittings|- 20% on reducing balance|
|Computer equipment|- 20% on reducing balance|



Freehold property is not depreciated as the trustees consider its useful life to be in excess of 100 years and the depreciation charge is therefore considered to be immaterial. 

continued... 

Page 13 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **1. ACCOUNTING POLICIES - continued** 

## **Tangible fixed assets** 

Tangible fixed assets are capitalised at cost or revaluation basis less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended. 

## **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. 

## **2. DONATIONS AND LEGACIES** 

|Subscriptions<br>Donations<br>Gift aid<br>Legacies<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>Fundraising events<br>Religious services|**31/12/24**<br>**£**<br>**273,594**<br>**50,478**<br>**45,456**<br>**11,288**<br>**380,816**<br>**31/12/24**<br>**£**<br>**-**<br>**28,188**<br>**28,188**|31/12/23<br>£<br>269,325<br>42,957<br>43,860<br>15|31/12/23<br>£<br>269,325<br>42,957<br>43,860<br>15|
|---|---|---|---|
|||356,157||
|||31/12/23<br>£<br>153<br>-<br>153||
||||153|



continued... 

Page 14 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**4.**<br>**INVESTMENT INCOME**<br>Rent and service charges receivable<br>Deposit account interest<br>**5.**<br>**RAISING FUNDS**<br>**Raising donations and legacies**<br>Premises upkeep<br>Office costs<br>Finance costs<br>Affiliation fees<br>Sundries<br>Office staff costs<br>Depreciation<br>Burial costs|**31/12/24**<br>**£**<br>**49,404**<br>**1,603**<br>**51,007**<br>**31/12/24**<br>**£**<br>**49,201**<br>**10,613**<br>**3,432**<br>**42,137**<br>**3,661**<br>**80,460**<br>**8,335**<br>**69,729**<br>**267,568**|31/12/23<br>£<br>50,741<br>1,197<br>51,938<br>31/12/23<br>£<br>44,215<br>9,268<br>2,122<br>33,629<br>3,912<br>71,572<br>10,179<br>(6,528)<br>168,369|
|---|---|---|



|**6.**|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|---|
|||Direct|Support||
|||Costs (see|costs (see||
|||note 7)|note 8)|Totals|
|||£|£|£|
||Charitable activities|**165,543**|**51,828**|**217,371**|



Page 15 

continued... 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**7.**<br>**DIRECT COSTS OF CHARITABLE ACTIVITIES**<br>Staff costs<br>Religious services<br>High holy day costs<br>Security costs<br>Education and youth<br>Torah repairs<br>**8.**<br>**SUPPORT COSTS**<br>Charitable activities<br>Support costs, included in the above, are as follows:<br>Caretakers and cleaners<br>Telephone<br>Printing and stationery<br>Hire of office equipment<br>High holy day appeal<br>Jack Petchey award scheme<br>Education and youth<br>Sefer Torah repair fund<br>Car park reserve fund<br>Community and youth<br>Auditors' remuneration<br>Legal and professional fees<br>Accountancy|**31/12/24**<br>**£**<br>**120,037**<br>**20,495**<br>**4,612**<br>**6,844**<br>**9,455**<br>**4,100**<br>**165,543**<br>Governance<br>Other<br>costs<br>£<br>£<br>**38,751**<br>**13,077**<br>**31/12/24**<br>Charitable<br>activities<br>**£**<br>**24,969**<br>**5,273**<br>**7,476**<br>**598**<br>**-**<br>**90**<br>**285**<br>**60**<br>**-**<br>**-**<br>**6,400**<br>**5,893**<br>**784**<br>**51,828**|31/12/23<br>£<br>124,918<br>4,289<br>-<br>25,150<br>-<br>-<br>154,357<br>Totals<br>£<br>**51,828**<br>31/12/23<br>Total<br>activities<br>£<br>**23,272**<br>**3,872**<br>**4,702**<br>**176**<br>**4,907**<br>**2,212**<br>**176**<br>**-**<br>**90**<br>**4,510**<br>**5,250**<br>**1,377**<br>**1,337**<br>**51,881**|
|---|---|---|



Page 16 

continued... 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **9. OTHER** 

## **GOVERNANCE COSTS** 

|**GOVERNANCE COSTS**|||
|---|---|---|
||**31/12/24**|31/12/23|
||**£**|£|
|Auditor's remuneration|**6,400**|5,250|
|Legal and professional fees|**5,893**|1,377|
|Accountancy|**784**|1,337|
||||
||**13,077**|7,964|
||||



## **10. 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. 

## **Volunteers** 

The charity is dependent on the voluntary work of the trustees in administering its funds and many other aspects of Synagogue working. As this work has no quantifiable value, this is not recognised in the financial statements. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 

## **11. STAFF COSTS** 

||**31/12/24**|31/12/23|
|---|---|---|
||**£**|£|
|Wages and salaries|**201,090**|196,587|
||||
||**201,090**|196,587|
||||
||||
|The average monthly number of employees during the year was as follows:|||
||||
||**31/12/24**|31/12/23|
|Ministerial|**2**|2|
|Administrative|**3**|3|
|Education and youth|**2**|2|
|Other|**2**|2|
||||
||**9**|9|
||||



continued... 

Page 17 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|**12.**||**31/12/24**|31/12/23|
|---|---|---|---|
||£60,001 - £70,000|**-**|1|
||£70,001 - £80,000|**1**|-|
|||||
||**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 31 DECEMBER**<br>**2023**<br>Unrestricted<br>Restricted<br>Total<br>fund<br>fund<br>funds<br>£<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>336,252<br>19,905<br>356,157<br>Other trading activities<br>153<br>-<br>153<br>Investment income<br>51,938<br>-<br>51,938<br>**Total**<br>388,343<br>19,905<br>408,248<br>**EXPENDITURE ON**<br>Raising funds<br>168,369<br>-<br>168,369<br>**Charitable activities**<br>Charitable activities<br>194,343<br>11,895<br>206,238<br>**Total**<br>362,712<br>11,895<br>374,607<br>**NET INCOME**<br>25,631<br>8,010<br>33,641<br>**Transfers between funds**<br>5,650<br>(5,650)<br>-<br>**Net movement in funds**<br>31,281<br>2,360<br>33,641<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>3,210,276<br>95,834<br>3,306,110<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**<br>3,241,557<br>98,194<br>3,339,751|||



continued... 

Page 18 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **13. KEY MANAGEMENT PERSONNEL** 

The trustees consider themselves to be the key management personnel in accordance with the Synagogue's constitution. 

## **14. INTANGIBLE FIXED ASSETS** 

|**INTANGIBLE FIXED ASSETS**||
|---|---|
||Website|
||£|
|**COST**||
|At 1 January 2024 and||
|31 December 2024|**4,767**|
|**AMORTISATION**||
|At 1 January 2024|**3,852**|
|Charge for year|**183**|
|At 31 December 2024|**4,035**|
|**NET BOOK VALUE**||
|At 31 December 2024|**732**|
|At 31 December 2023|915|



## **15. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 January 2024 and<br>31 December 2024<br>**DEPRECIATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023|Freehold<br>property<br>£<br>**2,900,000**<br>**-**<br>**-**<br>**-**<br>**2,900,000**<br>2,900,000|Security,<br>fencing<br>and<br>lighting<br>£<br>**43,559**<br>**43,559**<br>**-**<br>**43,559**<br>**-**<br>-|Religious<br>appurtenan<br>£<br>**7,535**<br>**3,989**<br>**-**<br>**3,989**<br>**3,546**<br>3,546|
|---|---|---|---|



continued... 

Page 19 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **15. TANGIBLE FIXED ASSETS - continued** 

|**COST**<br>At 1 January 2024 and<br>31 December 2024<br>**DEPRECIATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023|Fixtures<br>and<br>fittings<br>£<br>**124,339**<br>**89,004**<br>**7,068**<br>**96,072**<br>**28,267**<br>35,335|60th<br>Anniversary<br>Torah<br>Scroll<br>£<br>**24,000**<br>**7,200**<br>**960**<br>**8,160**<br>**15,840**<br>16,800|Computer<br>equipment<br>£<br>**11,468**<br>**10,846**<br>**124**<br>**10,970**<br>**498**<br>622|Totals<br>£<br>**3,110,901**|
|---|---|---|---|---|
|||||**154,598**<br>**8,152**|
|||||**162,750**|
|||||**2,948,151**|
|||||2,956,303|



We have changed the basis of our accounting policy and have now moved to a valuations basis for the freehold property. The buildings were last professionally valued by B Bailey & Co Ltd, Chartered Surveyors and Valuers on 2 July 2018. The valuation was based on the cost of acquiring a similar property, as there is a restrictive covenant in place on the land. The historical cost of the freehold property was £945,669 with historic depreciation of £148,002. The Trustees are of the opinion that the valuation above fairly reflects the current market value of the buildings. The buildings used by  the charity have not been depreciated as the trustees consider their useful life to be in excess of 100 years and the depreciation charge is therefore considered to be immaterial. The freehold property is stated at fair value. 

## **16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**31/12/24**|31/12/23|
|---|---|---|
||**£**|£|
|Trade debtors|**22,952**|14,272|
|Other debtors|**50,867**|10,999|
|Prepayments and accrued income|**2,387**|1,448|
||**76,206**|26,719|



continued... 

Page 20 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**31/12/24**|31/12/23|
|---|---|---|
||**£**|£|
|Trade creditors|**28,945**|3,228|
|Other creditors|**30,713**|25,432|
||**59,658**|28,660|



## **Contingent Liability** 

There is a contingent liability to Reform Judaism (RJ) for 2024 in the sum of £54,905 (2023: £54,905) which would crystallise should the Synagogue leave the Movement for Reform Judaism. 

## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Fixed assets<br>Current assets<br>Current liabilities<br>**19.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted Funds<br>**TOTAL FUNDS**|Unrestricted<br>fund<br>£<br>**2,948,883**<br>**299,206**<br>**(59,658)**<br>**3,188,431**<br>At 1/1/24<br>£<br>**3,241,557**<br>**98,194**<br>**3,339,751**|Restricted<br>fund<br>£<br>**-**<br>**127,967**<br>**-**<br>**127,967**<br>Net<br>movement<br>in funds<br>£<br>**(46,357)**<br>**23,004**<br>**(23,353)**|**31/12/24**<br>Total<br>funds<br>**£**<br>**2,948,883**<br>**427,173**<br>**(59,658)**<br>**3,316,398**<br>Transfers<br>between<br>funds<br>£<br>**(6,769)**<br>**6,769**<br>**-**|31/12/23<br>Total<br>funds<br>£<br>2,957,218<br>411,193<br>(28,660)<br>3,339,751<br>At<br>31/12/24<br>£<br>**3,188,431**<br>**127,967**<br>**3,316,398**|
|---|---|---|---|---|



continued... 

Page 21 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **19. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||£|£|£|
|**Unrestricted funds**|||||
|General fund||**424,592**|**(470,949)**|**(46,357)**|
|**Restricted funds**|||||
|Restricted Funds||**36,994**|**(13,990)**|**23,004**|
|**TOTAL FUNDS**||**461,586**|**(484,939)**|**(23,353)**|
|**Comparatives for movement in funds**|||||
|||Net|Transfers||
|||movement|between|At|
||At 1/1/23|in funds|funds|31/12/23|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|3,210,276|25,631|5,650|3,241,557|
|**Restricted funds**|||||
|Restricted Funds|95,834|8,010|(5,650)|98,194|
|**TOTAL FUNDS**|3,306,110|33,641|-|3,339,751|
|Comparative net movement in funds, included in the above||are as follows:|||
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|||£|£|£|
|**Unrestricted funds**|||||
|General fund||388,343|(362,712)|25,631|
|**Restricted funds**|||||
|Restricted Funds||19,905|(11,895)|8,010|
|**TOTAL FUNDS**||408,248|(374,607)|33,641|



continued... 

Page 22 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **19. MOVEMENT IN FUNDS - continued** 

||**At 1/1/24**|**Net movements**<br>**in funds**|**Transfer**<br>**between**<br>**funds**|**At 31/12/24**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|1,224,569|(40,413)|(6,769)|1,177,387|
|Legacies and bequests|19,801|(5,944)|-|13,857|
|Revaluation reserve|1,997,187|-|-|1,997,187|
||||||
||**3,241,557**|**(46,357)**|(**6,769**)|**3,188,431**|
|**Restricted funds**|||||
|Special burial fund|31,890|-|-|31,890|
|Charitable trust fund|417|-|-|417|
|Bluementhal prize fund|490|-|-|490|
|Krasnador fund|245|-|-|245|
|B'nel Torah scheme|6,935|-|-|6,935|
|Education and youth|2,397|(6,242)|3,845|-|
|High holy day appeal|37,848|7,721|-|45,569|
|Israel action group|625|-|-|625|
|Building fund|2,387|24|-|2,411|
|Jack Petchey award scheme|-|810|-|810|
|Sefer Torah repair fund|1,236|(4,160)|2,924|-|
|Harry Jassby grave maintenance<br>fund|210|-|-|210|
|Handrails prayer hall fund|3,929|-|-|3,929|
|General refurbishment fund|100|600|-|700|
|Miriam Landsman prize fund|5,000|-|-|5,000|
|Library fund|4,485|-|-|4,485|
|Bayfield fund|-|8,531|-|8,531|
|Gilbert fund|-|15,720|-|15,720|
||||||
||**98,194**|**23,004**|**6,769**|**127,967**|
||||||
||||||
|**TOTAL FUNDS**|**3,339,751**|**(23,353)**|**-**|**3,316,398**|
||||||
||||||
||||||



continued... 

Page 23 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **19. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above as follows: 

||**31/12/24**|**31/12/24**|**31/12/24**|
|---|---|---|---|
||**Incoming**|**Resources**|**Movement**|
||**resources**|**expended**|**in funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General funds|420,461|(460,874)|(40,413)|
|Legacies and bequests|4,131|(10,075)|(5,944)|
|||||
||**424,592**|**(470,949)**|**(46,357)**|
|||||
|**Restricted funds**||||
|Education and youth|3,498|(9,740)|(6,242)|
|High holy day appeal|7,721|-|7,721|
|Building fund|24|-|24|
|Jack Petchey award scheme|900|(90)|810|
|Sefer Torah repair fund|-|(4,160)|(4,160)|
|General refurbishment fund|600|-|600|
|Bayfield fund|8,531|-|8,531|
|Gilbert fund|15,720|-|15,720|
|||||
||**36,994**|**(13,990)**|**23,004**|
|||||
|||||
|**TOTAL MOVEMENT OF FUNDS**|**461,586**|**(484,939)**|**(23,353)**|
|||||
|||||
|||||
|||||



## **Restricted funds** 

Restricted funds are funds donated or set aside for specific educational or religious projects such as Harry Jassby grave maintenance fund or Sefer Torah repair fund. Special burial fund represents payments of overage fees by members, to be utilised at their future burial. 

High holy day appeal fund comprises donations from the membership, for the annual appeal for specific selected charities. 

continued... 

Page 24 



**South West Essex and Settlement Reform Synagogue** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. RELATED PARTY DISCLOSURES** 

The synagogue is a constituent member of the Movement for Reform Judaism, for which it pays a membership levy. The levy due for 2024 was £42,137 (2023: £33,629) of which it owed the Movement £1,959 as at 31 December 2024 (2023: £1,959). 

The synagogue has entered into a contract with the Jewish Joint Burial Society. The synagogue collects burial fees from its members and pays these to the Burial Society. In return, the Burial Society provides a comprehensive funeral services. 

Page 25 



**South West Essex and Settlement Reform Synagogue** 

## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** 

|**Detailed Statement of Financial Activities**<br>**for the Year Ended 31 December 2024**|||
|---|---|---|
||31/12/24|31/12/23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Subscriptions|**273,594**|269,325|
|Donations|**50,478**|42,957|
|Gift aid|**45,456**|43,860|
|Legacies|**11,288**|15|
||**380,816**|356,157|
|**Other trading activities**|||
|Fundraising events|**-**|153|
|Religious services|**28,188**|-|
||**28,188**|153|
|**Investment income**|||
|Rent and service charges receivable|**49,404**|50,741|
|Deposit account interest|**1,603**|1,197|
||**51,007**|51,938|
|**Other income**|||
|Insurance claim proceeds|**1,575**|-|
|**Total incoming resources**|**461,586**|408,248|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Premises upkeep|**49,201**|44,215|
|Office costs|**10,613**|9,268|
|Finance costs|**3,432**|2,122|
|Affiliation fees|**42,137**|33,629|
|Sundries|**3,661**|3,912|
|Office staff costs|**80,460**|71,572|
|Depreciation|**8,335**|10,179|
|Burial costs|**69,729**|(6,528)|
||**267,568**|168,369|



This page does not form part of the statutory financial statements 

Page 26 



**South West Essex and Settlement Reform** 

## **Synagogue** 

## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** 

|**Detailed Statement of Financial Activities**<br>**for the Year Ended 31 December 2024**|||
|---|---|---|
||31/12/24|31/12/23|
||£|£|
|**Raising donations and legacies**|||
|**Charitable activities**|||
|Wages|**120,037**|124,918|
|Religious services|**20,495**|4,289|
|High holy day costs|**4,612**|-|
|Security costs|**6,844**|25,150|
|Education and youth|**9,455**|-|
|Torah repairs|**4,100**|-|
||**165,543**|154,357|
|**Support costs**|||
|**Other**|||
|Caretakers and cleaners|**24,969**|23,272|
|Telephone|**5,273**|3,872|
|Printing and stationery|**7,476**|4,702|
|Hire of office equipment|**598**|176|
|High holy day appeal|**-**|4,907|
|Jack Petchey award scheme|**90**|2,212|
|Education and youth|**285**|176|
|Sefer Torah repair fund|**60**|-|
|Car park reserve fund|**-**|90|
|Community and youth|**-**|4,510|
||**38,751**|43,917|
|**Governance costs**|||
|Auditors' remuneration|**6,400**|5,250|
|Legal and professional fees|**5,893**|1,377|
|Accountancy|**784**|1,337|
||**13,077**|7,964|
|Total resources expended|**484,939**|374,607|
|**Net (expenditure)/income**|**(23,353)**|33,641|



This page does not form part of the statutory financial statements 

Page 27