Annual Report and Financial Statements for the year ended 31 August 2023
presented at the 93rd Annual General Meeting on Saturday 23 March at 1pm at The South London Liberal Synagogue and online
Registered Charity No 236711
The South London Liberal Synagogue (SLLS) Annual Report Registered Charity No 236711
The Council of The South London Liberal Synagogue (the Synagogue) presents its annual report together with the statement of accounts of the Synagogue in respect of the financial year ended 31 August 2023. The statement of accounts is not statutorily required to be audited and has been independently examined by Gareth Berney, whose report appears below.
Origin and objectives of the charity
The Synagogue was established in 1929 and is an unincorporated association. Under its current Constitution of 10 December 2022 (the Constitution)1 the Synagogue has the following purpose: to advance Liberal Judaism by actions, teaching and practice, in particular (but not exclusively) by means of:
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(a) providing religious education for children and adults and providing facilities and teaching leading to Bar Mitzvah or Bat Mitzvah and Kabbalat Torah (Confirmation);
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(b) providing and maintaining a place for public religious worship and providing, arranging and conducting religious services;
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(c) providing facilities for the solemnisation of marriages and for burials and cremations.
Review of the activities
A review of the main activities of the Synagogue in relation to the purpose described above is contained in the Chair’s Report and in the reports on Synagogue activities set out elsewhere in this report.
Governance
The Synagogue and its property and assets are administered and managed by its Council, members of which are the charity trustees of the Synagogue. Decisions concerning day-to-day management of the Synagogue are made by the Chair together with the other officers. In accordance with the Constitution, members of Council are elected at the Annual General Meeting (AGM) of the Synagogue (or, in the event of a casual vacancy, appointed by the Council to serve until the next AGM) and serve without compensation.
The Council members who served during the past year were: Eve Samson (Chair), William Cohen (Vice Chair), Brian Jacobs (Hon. Secretary), Fabrizio Melis (Hon. Treasurer), Diego Giraldo Casas, Andy Hoffman, Maya Jaffe, Alison Watson, Rory Hutchings, Geoffrey Wolf, Hannah Blitz, Daniel Max, Georgina Harley Smith, Sam Infield
In carrying out their responsibilities the members of Council, as trustees of the Synagogue, have had regard to the guidance on public benefit issued by the Charity Commission for England and Wales (the Charity Commission).
Title to the property of the Synagogue was held during the past year by property trustees Paul Infield, Eve Samson and Shai Wade.
1 A copy of the Constitution is available from the Synagogue office on request.
2
Membership – all categories
Total at 31 August 2023: 245 (2022: 249), which included 9 Honorary Members (2022: 9), and 26 Friends (2022: 33).
Members We welcomed 8 new Members; 6 Members left the community.
Friends We welcomed 0 new Friends of SLLS.
Deaths We record with sorrow the deaths of Michael Rich and Silvia Mash. May their memory be for a blessing.
Reserves policy
The Charity’s principal activities are detailed above.
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The present reserve level is considered realistic in order to maintain liquid reserves to cover the Synagogue’s day to day activities.
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At each annual Budget meeting, a review of the current level of reserves will be undertaken against Budget predictions.
Risk management
Council has decided not to prepare a formal risk review report. However, the Council has given consideration to the major risks to which the Synagogue is exposed and satisfied itself that systems or procedures are established in order to manage those risks. The Council will continue to review areas of potential risk. The principal financial risks identified in the short to medium term are as follows:
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The possible loss of the nursery as a tenant and the resultant loss of income;
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The viability of the businesses which rent space in the Synagogue building and the consequential loss of income;
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Rising costs, including energy and staff costs;
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The limitations on the Synagogue’s ability to meet its running costs while maintaining subscriptions at a level affordable to Members and Friends;
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Loss of paying Members and Friends of the Synagogue and difficulties in attracting new paying Members and Friends;
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Declining numbers of donors and ‘donor fatigue’ among existing donors;
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The likely need for significant further repairs to the Synagogue building.
Statement of Council’s responsibilities
The Charities (Accounts and Reports) Regulations 2008 (the Regulations) require the Council to prepare a statement of accounts for each financial year which include:
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(a) a statement of financial activities showing the total incoming resources and application of the resources, together with any other movements in the total resources, of the Synagogue during the relevant financial year; and
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(b) a balance sheet showing the state of affairs of the Synagogue as at the end of the relevant financial year.
The statement of activities must give a true and fair view of the incoming resources and application of the resources of the charity in the relevant financial year. The balance sheet must give a true and fair view of the state of affairs of the charity at the end of the relevant financial year. The statement of accounts must be prepared in accordance with the methods and principles set out in the “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)” issued by the Charity Commission (the Charities SORP).
In preparing the statement of accounts, Council is required to:
- (i) select suitable accounting policies and then apply them consistently;
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(ii) make judgements and estimates that are reasonable and prudent;
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(iii) prepare the Financial Statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
Council is responsible for ensuring that accounting records are kept in respect of the Synagogue which are sufficient to show and explain all the charity's transactions, and which are such as to (a) disclose with reasonable accuracy at that time the financial position of the Synagogue and (b) enable the Council to ensure that the statements of accounts comply with the requirements of the Regulations.
Fabrizio Melis, Hon. Treasurer
PLEASE REMEMBER US IN YOUR WILL You have supported the SLLS during your lifetime; why not also in your Will for future generations?
LEGACIES MAKE THE DIFFERENCE By leaving a bequest to SLLS you will support the future of Liberal Judaism in South London.
For further information please contact office@southlondon.org or 020 8769 4787
PLEASE REMEMBER US IN YOUR WILL You have supported the SLLS during your lifetime; why not also in your Will for future generations? LEGACIES MAKE THE DIFFERENCE By leaving a bequest to SLLS you will support the future of Liberal Judaism in South London.
For further information please contact office@southlondon.org or 020 8769 4787
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South London Liberal Synagogue Independent Examiner’s Report to the Synagogue Council
I report on the accounts of the South London Liberal Synagogue for the year ended 31 August 2023, which are set out herein.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) Which gives me reasonable cause to believe that, in any material respect, requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gareth Berney 2 Gibson Gardens Saffron Walden
[__] 2023
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South London Liberal Synagogue - Statement of Financial Activities FY 2022-23
| Unrestricted Fund £ |
Restricted Funds £ |
Total 2023 £ |
Total 2022 £ |
|
|---|---|---|---|---|
| Incoming Resources | ||||
| Subscrip)ons | 69,080.37 | 69,080.37 | 66,060 | |
| Dona)ons/Legacies | 9,321.34 | 652.91 | 9,974.25 | 20,478 |
| Grants | 1,252.00 | 1,252.00 | 4,858 | |
| Gi@ Aid repayment | 20,929.73 | 20,929.73 | 32,607 | |
| Appeals income | 5,299.00 | 5,299.00 | 23,575 | |
| Property leHng | 66,968.00 | 66,968.00 | 58,124 | |
| Fundraising and other income | 4,866.14 | 4,866.14 | 5,149 | |
| Burial and crema)on fees | 1,980.00 | 1,980.00 | 7,013 | |
| Bank interest | 693.03 | 693.03 | 47 | |
| U)li)es reimbursement | 2,544.80 | |||
| Total Incoming Resources | 176,383.41 | 7,203.91 | 181,042.52 | 217,911 |
| Resources Expended | ||||
| Rabbinic costs | £63,230.69 | 0 | 59,363 | |
| Staf costs (not inc. Rabbi or Gesher) | £19,583.09 | 0 | 17,839 | |
| Building renewal, maintenance and security | £73,408.22 | £6,551.00 | £79,959.22 | 127,174 |
| Aflia)on fees | £12,733.34 | 14,400 | ||
| Educa)on (Gesher) | £4,374.90 | 4,852 | ||
| Insurance | £8,956.51 | 8,559 | ||
| U)li)es | £6,198.15 | 3,967 | ||
| Management and administra)on | £3,608.78 | 3,826 | ||
| Burial and crema)on costs | £2,166.00 | 999 | ||
| Charitable dona)ons | 1,070 | |||
| Costs related to property, fundraising and other synagogue ac)vi)es |
£1,892.33 | 158 | ||
| Deprecia)on | £2,493.66 | 6,521 | ||
| Deprecia)on on property not in ledger | 4,009 | |||
| Deprecia)on overstated in ledger | -499 | |||
| Adjustment to the cost of fxed assets (AV) | £529.00 | 3,974 | ||
| Total Resources Expended | £202,684.67 | £6,551.00 | £209,235.67 | 252,702 |
| Net Movement in Funds | -£26,301.26 | 652.91 | -£28,193.15 | -34,791 |
| Funds brought forward at 1st September 2022 | £215,981.00 | £27,233.00 | £243,214.00 | |
| Funds carried forward at 31st August 2023 | £189,679.74 | £24,547.31 | £214,227.05 |
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South London Liberal Synagogue Balance Sheet as at 31 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ £ |
£ £ |
||
| Fixed Assets | |||
| Tangible fxed assets | £135,492.58 | £139,003 | |
| Current assets | |||
| Debtors | - | - | |
| Undeposited Funds (GoCardless) | £ 3,514.66 | £801 | |
| Cash at bank and in hand | £ 90,394.11 | £125,471 |
|
| £ 93,908.77 | £126,272 | ||
| Total assets | £229,401.35 | £265,275 | |
| Current liabili)es | |||
| Creditors: amounts falling due within one year |
-£14,466.87 | -£22,061 | |
| Total assets less current liabiliOes | £214,934.48 | £243,214 | |
| Income Funds | |||
| Restricted funds | £ 24,547 | £27,233 | |
| Unrestricted funds | £189,680 | £215,981 | |
| Total Funds | £214,227.05 | £243,214 | |
| diference £0.00 |
Notes forming part of the statement of accounts for the year ended 31 August 2023
1.The principal accounting policies adopted by the charity are described below. They have been applied consistently throughout the period.
BASIS OF ACCOUNTING
The financial statements are prepared under the historical cost convention and in accordance with the 2011 Act, the Charities SORP and the applicable Financial Reporting Standard (FRS 102).
INCOMING RESOURCES
All incoming resources are included in the Statement of Financial Activities when the monies are received.
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RESOURCES EXPENDED Expenditure is recognised on an accrual basis when the liability is incurred.
2. Tangible Fixed Assets and Depreciation
Depreciation is calculated to write down the cost of assets to their estimated residual values over their expected useful lives as follows:
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! Freehold building & improvements - 2% on cost
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! Furniture - 25% on net book value
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! A/V Equipment - 20% on cost
| Tangible fixed assets | Freehold property & improvements |
Organ | Furnitur e |
Equipmen t |
Total |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Cost at 31 August 2022 | 200,471 | 6,995 | 16,820 | 12,996 | 237,282 |
| Additions in the year | 0 | 0 | 0 | -528 | -528 |
| Total cost | 200,471 | 6,995 | 16,820 | 12,468 | 236,754 |
| Depreciation at 31 August 2022 | -71,442 | -6,995 | -16,820 | -2,494 | -97,751 |
| Charge for the year | 0 | 0 | 0 | 0 | 0 |
| Total depreciation | -71,442 | -6,995 | -16,820 | -2,494 | -97,751 |
| Depreciation is not in the ledger |
-4,009 | ||||
| Depreciation is wrong on the ledger |
499 | ||||
| Net book value at 31 August 2023 |
129,029 | 0 | 0 | 9,975 | 135,493 |
| Net book value at 31 August 2021 |
133,038 | 0 | 19 | 0 | 133,057 |
| On cost | 2% | 0% | 20% | ||
| Reducing balance | 25% |
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| As at 31 August 2022 | ||||||
| CAF Gold Account | 36,812.78 | |||||
| CAF Gold BC Scheme | 23,961.31 | |||||
| CAF Cash Account General | 24,762.52 | |||||
| Total Cash at bank and in hand | £85,536.61 | |||||
| 3. Cash at bank and in hand 4. Creditors: amounts falling due within one year |
||||||
| Account | Amount | |||||
| Board of Deputies levy | 1,635 | |||||
| Liberal Judaism Community Affiliation Fee | 1,915 | |||||
| sub-total: Accounts Payable | 3,550 | |||||
| Open wage, pension, tax and NIC liabilities | 521 | |||||
| Abraham’s Tent Project Fund | 2,016.87 | |||||
| Rabbi Discretionary Fund | 586 | |||||
| sub-total: Other open liabilities | 3,126.87 | |||||
| Total current liabilities | £6,673.87 | |||||
| at 31.08.2023 | at 31.08.2022 | |||||
| Restricted Funds | ||||||
| Rabbi’s discretionary fund | £586 | £1,354 | ||||
| Burial and cremation fund | £23,961 | £25,879 | ||||
| sub-total: restricted funds | £24,547 | £27,233 | ||||
| Designated Funds | ||||||
| Abraham’s Tent Fund | £2,017 | £1,613 | ||||
| Building Fund | £0 | £0 | ||||
| sub-total: designated funds | £2,017 | £1,613 | ||||
| Total: Restricted and Designated Funds | £26,564 | £28,846 | ||||
| 5. Restricted and designated funds |
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South London Liberal Synagogue Financial Projection FY 2023-24
| Income £ Subscriptions 70,000 Donations/Legacies 7,000 |
Income £ Subscriptions 70,000 Donations/Legacies 7,000 |
|---|---|
| Gift Aid repayment 20,000 |
|
| Appeals income 5,000 |
|
| Grants 1,500 |
|
| Property lettings 65,000 |
|
| Fundraising income 1,000 £ |
|
| Etz Chayim (Leaf Sales) 100 |
|
| Chevra 900 |
|
| 1,000 | |
| Burial & Cremation Fees 500 |
|
| Bank Interest 20 |
|
| Total Income 170,020 |
|
| Expenses | |
| Rabbinic costs 66,000 |
|
| Other staff costs 20,000 (Administrator & Cleaners' Wages + NI) |
|
| Building maintenance 8,500 |
|
| Building renewal 65,000 |
|
| Affiliation fees 15,000 £ |
|
| Board of Deputies 1500 |
|
| Liberal Judaism 13,500 |
|
| 15,000 | |
| Education (Gesher) 3,500 (Teachers' Wages + NI + costs) |
|
| Charitable donations 1,000 (Pass-through of appeals income) |
|
| Insurance 9,000 |
|
| Utilities 8,000 |
|
| Management & administration (excl. staff) 3,000 |
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| Depreciation | 6,500 | ||
| Burial and cremation costs | 1,000 | ||
| Costs related to property, fundraising and other | |||
| synagogue activities | 1,000 | ||
| Total Expenditure | 207,500 | ||
| Net Surplus/Deficit | -37,480 | ||
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