Charlty rnglstratlon nUm￿r 239096 SOUTHGATE PROGREssive SYNAGOGUE ANNUAL REPORT AND VNAUDifED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 SOUTHGATE PROGRESSIVE SYNAGOGUE LEGAL AND ADMINISTRATNE INFORMATION Styjthgale Progressfve Synagoguè18 a registered charity Addr••• 75 Ch•$8 Road. London. N14 4QY Councll l. Non&•cutfv• Offlc•r•'. Hon. Life President.. Hon. L￿¢ VIc&P￿d8nt Pe8rt Phillips Phyllls Frèedman 11. Ex•etsUv• Offl¢•r• Chak.. Vke Chalr. Hon. Secretsry". Hon. Tro0gurer'. Mat* Shaw Rach8118 Ellenby Stephani¢ Marnh Steph8n Lethy 111. M•mb•rn Norni8 Jacobs Amanda Leskny Kay Lews (c¢>op￿ 0211112022) Anthony Marsh Ba￿ara Martln Michèl• Raab Jullan S¥nwson IR¢slgned 2Y0612022) Davld Shaw (Appointad 2Joe420221 Carolg Sholts Mlnlstsr.. Rttbbi Donny Rk* Onko Klanager Emma COl￿n Chartty number 239096 Ind•pvndent examlner Step1￿ Ccl&man ACA Gorold Eddman LLP 73 Comhlll London EC3V 3QQ Bankers BarcLay$ Bank plc 20 Tho Town Enr￿d EN2 6LY SOUTHGATE PROGRESSIVE SYNAGOGUE CONTENTS Pay Tw8t808' rep)rt statement of TnJsto8s' reSp￿sIbIlI Independent oxthnevs report St¥lemont of fSnanc681 aclfvitle8 Balgnce 8heot Noto$ to Ihe ffinanclal stal•mtnts 8-17 SOUTHGATE PROGRESSIVE SYNAGOGUE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trust•8s pr￿nt th•lr report ar￿ finanrAal statements for th• yoar grbjed 31 D￿lber 2022. Th8 financlal $lalements have been preparèd in ae£ordan¢e wrfh the accounting pollu0$ $&1 out In nots 1 to the n8n¢S818taternents and eompty vAth t￿ ¢h8riV$ goveming doojment, th& Chart￿S Aet 2022 and 'AccountirKJ and Reporting by Charities.. Stat•mènt of Rgwmrnended Practi(* applicable to ch8rlU85 preparing thew accounts In accordance tha Finan￿#1 Reporting Standard applicab￿ in the UK and RgpUbl￿ of Ireland IFRS 1021.18$ amended for accounllng ￿riod8 commenciThJ from 1 January 20191. The charivs power of investmènt governed by the teThs of the Trustee Act 2c￿. 11 is thè CoLm¢4fs ￿1￿Y to invest onty In bank and bulldlng 80clely 8c¢ounts and Bntlsh govemment stocks. ObJ•dlv•s and actlvltl•8 The Synagogue is a congrgga¢KJn tho Jowish religKm *ilh thg airrn of provlding 8rn1 malntslnlng a pla for the wrpo$& of publle wor8lNp and advandng religw)u¥. fjdu¢atlon81 and Charitab￿ acttviues based in ti London Borough of Enr￿Id. The synagog￿ Is 8ffll1at￿ to Llb8rn1 Judati8m and i8 r6pr8sentod on th• Board ol Deputies of Brrknsh Jews. Tha Synagogu• 1$ a SUPFthI•T of the Leo Baoc* ColW- Centr¥ for J•wi6h Educatson In Flnchk8y. Speclfic obl•ctlv•s arè ￿ oul In our CO￿tItub0n as follrA¥s'. al tho advan¢¥m$nl of Liberal Judaism. bl to provide and malntsin a pla￿ ofwor8hip. cl lo arranga and eondu¢t rgliglou$ swices and rellgths Instructlon clg8$89. dl to promote culbjral. adu¢adonAI. soa41 and athties. tl to S￿eMniSe mathag•s. n lo arrang8 maans rf burf$l or of dt¢oaB•d [￿Bon6 of tho Javhsh falth a$ d￿ned by Llboral Judalsm. gl to arrange and pertomi oth¥r rg119SouJ rftss, th8rltsL4• dutkn8 al￿ other charitabk• a$ th• CoLmciI from tim• to bme 8h811 d•t•rnth•. The Covncll have paid due re94￿ lo guldance 188Utd by the Charlty Cc¥nm15slon Sn dxKllng v*h8t activlties the Synagogu8 S￿￿Id L4)d8rtako. The Synagogue's 8Ctivib•s duriThJ tho yegl gr8 includgd in the strpatsle annual report senl to members. Th&80 include r8gul8r we&kty Services as well as festival services thfoughout thg y8or18d by fomer Rabbi Yuval Ker ond Intenm Rabbl Danny Rbch and support8d by t￿ A¢twili•s Committeo In ad(Jltion. th8m Ar• educational cl&ss88 both lor th• youth ol the s￿8909￿e in the fomi of our rellgKJn sthool IRua¢hl •s well as lor adult members, orgBnisgd und•r th¥ fymil of the EduCath￿ Committeo. We ha￿ and ¢ultur81 act'vitie8 throughout th8 ￿ar nJn by a dodl¢•tsd team as well as a very active commltt8è d8dlc8tod to the care and weKare of our MaM￿r$ who ké•p th touch ￿ SK*. vulnerabkn, and ddèrfy m•mb•rs of tho communlty. Securfty. slt• m81nl•nan￿ and finance are akn Fun by ¥duntO8r mombars of th& synagoBuo. SOUTHGATE PROGRESSIVE SYNAGOGUE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 A¢hlfrv•m•nts and wr10m￿nCe A review of tho year is in¢lud&Y In AGM agenda trh)okJet sènt out to all m•mb8rs. Hlghllghts for the year Includg.. AdoptlcA) of a updated Safaguarding polley. Appointsnont of a new Religion School H¢a&teachw. Nicola Morfl$ In the Summer of 2022. Successful High Hoty Day Servic8s fulty back on $it6 in the S¢hindler Hall with the assl$tsnce of Rabbl Dr Ch8do$ MMldl&burgh and Rgbbl Dr Deborah K•hn HarTiI. Ralying of £10.B81 from our Hp3h Hoty Day appe￿. Appointment of Rabbl Danny Rich 0$ S8nhN Rabbl of our new Rablxnn￿ T¢8m on 3rd May 2023. AppoSntmenl of a new Offi¢e Manager. Emma Coleman on 5th December 2022. Apwintm8nt ol a ntw regular Saturday musician, &na Krugor in January 2023. fdlo*lng Ihe rglr•m8nl ol Slmon Pus•y. A varfely of ev•nts lo celebrat* our 80th annSv&r$8ry year. thè Fourth H*ry Jacobi Mèmorial Lgduffj In March 2023 ¥￿th 8p8ak&r Rabkn ￿ch8￿ Jacobl. Flnan¢lal revl•w Nel exp•nditur8 for th& y¢ar was £2.392 12021 - £14.328 not Sncomel. Tolal lund$ hehj al ts •rKI of th• y•ar were £616,45412021 - £618,846) of whoch £72,90812021 - £14.9251 were r8StrOcted fund$ not availab￿ for Ihfr genoral purpos8s ol Synagogu$. Total Income WAS £328,661 Compar￿ to £316,442 in the pr8vlw8 ￿ar, an In¢rè858 of 3%. Incomè frc¥n mombers subscrfpU0￿ Incr90$￿ thbs year to £243.700 and Intr)me from hèll knttings rose from £46,296 to £49.444. Totsl expendrture was up to £329.053 from £302.114. Thè single m8mbership subscriptkn was by £9. 1•88 than 2% per Thmbar. Tho numbar of m8mb8 who were In weipt of a #ubsidy stood at 142. A8 al the 31 December 2022 mewnbership sI￿d al 630 IncludlrvJ thlhj mombern. The Trust￿$ h8ve a poll¢y ol seiting sUb￿ptIon r8tes al a level sufficient to meèt trAdgeted 8xponditure. It 1$ not thg Intention thgrefore to buiha up addth'onal free reserves whth *Duld invts￿e a substantial incr&M$e in sub$¢riplions. However th6 TnJsle¢s do hold freo reserves {that is (hos• fvnds tled uo in fixed ass8ts. designated or r¢stncted funds) of £54,842. The Trustees that r8sorves at thLs will ensure that in the event of 8 91gnificant drop in funding, they will be abra to ￿n￿nu0 th¥ Synagoguè's current aL*vilies whlle ¢on8ideration 18 given to ways in which additional funds may be ralse(l. The free rgserves at thg penod end amount to 8pproximately the 8nlicApated totsl of tsvo months expendltura ofthe chartty. The following fund8 h•hd a5 deskJnat•d furKls as at 31 Decembar 2022: The roof repairs fund which was established In 2016 wa8 once agaln lopped up and c￿renty stand$ al £70,000. This will be tOPP8d up on an annual basis kn line with th• gxp¥thd remalnlng lrfebm8 of th& roof on tho main hous8. Thé burlal, cr8maJtsn and fvnernl fund set up to bear the cost of burial or crnmotion and fijneral of member3 is also topped up annualty and ￿[renty stsn¢Js at £240,￿0. For furthèr detalls plaase refer to note 13 in the fnondal slalwnents. Each year the Coundl awsses th• major r￿kS to whKh the Synagowe is exposgd. and are satlslknl that systems arg in place to mitigale exposure to the major rfsks. A rèview has been (grried out to Id&nOfy 811 risks arld a plan has been Prepa￿ to minimise suth risks. Intemal control risks arn mirbimised by procedures for ths aulhorisation of transactiorts. Appropriate DisLgosure & Barring Service IDBSI checks are made on all thosè who work wrfh thiklren or other vulnerabla group8 and secvrity systems in place to saf*Juard the sa￿1)ty of staff and wsitoTr to the SYr￿Ogue. SOUTHGATE PROGRESSIVE SYNAGOGUE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Stru￿ur¥. governanc• and m•n•o•m•nt Th& Synagogue was established by a charrtablfy trust deed dated on 20 Nov8mbor 1953. We look athantage during the year of Ihe Oir￿la1 Custodian so￿¢8 of Ihg Chartty Commisslon and ve8led our land In the name of tho Offirial Custodian. thereby doing awAy wilh the need for Custodian Trnslee8 lo hokl the kind. Th& Board of Trustees who duriTr) tho yoar and up to the date of signature of th8 financial statemnts w&rtr'. Rach•lle Ellgnby Phyllls Frogdrnan Norma Jacobs Amanda Lèslgy Stephen L&$ley Kay Lgwl$ (Co-opted 02111120221 Anthony Matsh St8phani8 Marsh Barbara M8rtsn Poarf PhSlly8 Mlchele Raab David Shaw IAppoinl•d 22106r2022) Mark Shaw Corolg Shotts Th• Synagogue18 dlr•ct•d by Its c￿￿1 (Board of Tnth) cons16￿ng of up to thirt••n members. Includlng four Executs've Officers, elocted by th¥ membership al the Annual General Meetin9. In th¥ evtsnt that places are not flll¢d. Council may COllopI an •li9iblg lull mgmber on io Council. There is also an Life President and an ¢l$¢ted Llfe Vth Pr8sldent. Th¢ •l&¢t8d momborn of Counc41 *ther are the'Curr•ntTru$l•o8'. Th# Council generally makes d•tysion8 based on Ihe recommendations of Jppry)priate sub committoes. Day to day runnlng of th• Synagcgue 18 oveTreen by the SyrHgogu• Offlce Manager. AJI current Trustses aro apw8i$4d of new devekjpments in tharsty law and practie•. Al Trustees are provided with all r&lovanl information appethning to its affai￿ to on8urg that they can understsnd and m¥gt th• respon$lbllltl•É th• rol• *ntall$. In setting the remun•ralk*n of th¢ Rably the Coun(41 considers the Rabbfs pay $¢al¢s prowded by Liberal JudaiBm but the Rabbl'g Pay 1$ not currentty direclty linked to the sca￿. For All othor stsff the Council take into consideration the IndNidual$ pWfonD8r￿e and Ihe rate of infiation {CPII whan sétting rate5 01 pay. Ajthough thfj Synagogu& is affiliated to Lit)8Tal Juda15m thi8 has rK* kn)p8¢t on thè operat￿1 pol￿1•S adoptod. The Trusteos, report was the Council (Board ofTmstee$l ond %gned on its b8half by.. Mork Shaw Chair Dat$d- SOUTHGATE PROGRESSIVE SYNAGOGUE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Th¢ Council are responslble for preparing th8 TYuste89' ReFLJrt and t1￿ finarK4al staternents In 8crordance with applicable and Unrted Kingdom Ae¢¢ynt¥ig Stsndards (Unrtèd ￿ngdoM Generally A￿pIed Accounting PraGticel. The law applicabla to ￿1$r￿'eS in England and W8185 requires the Counul to prepare financial $tatsments lor each n8ncial year whleh give a true fair of the state of affairs of the Synagogue atwj of th& incoming resour¢o$ and applcation of r¢SoUr￿ of the Syna9egu8 for Ihal year. In preparing these finanoal statsrnents, ts Counal ar• r8quir¥d lo: - solecl 8uAabl8 accounung pollclo9 and I￿n 8ppty th&m ccfjsi8tentty.' - ob88m the methods and wnwl88 in th• Charitses SORP.. - make judgemènts and eslimales that ￿ ro08onabl• and w￿10n￿. - stat8 whgth¥r aFPlIcab￿ ac¢ounlng $t8ndard8 have twi follry*8d. $ubJad to any material departures di$¢lo$trd and explaine(l in the financtal ststèmnt$,' and - pMp8r• th¢ finandal statem&nls on the gokng concom ba￿$ unless ft Is inapproprlate to prosurrn that the charlty wlll contlnuo In Operat￿n. The Council are responsible for k￿pIng sufficient accounting records thot dlscloso ￿th rno$onabb atturacy al any tlme the financial position of the Synagogue and enabl• tham to en$ur• that th• finanual staleThnls comply wlth the Charits'es Acl 2011. the Charty (Accounts and Rgportsl Regulations 2008 8nd the provisions of tho Irusl deed. They are also responsljle for saleguafding thè ¥$$ets of the synagog￿ and h•nc6 for taklng r08sonab￿ slèp8 for the pr8v•nUon and detectbon of fraud 8nd oth¢r i￿•guIanI￿. SOUTHGATE PROGRESSIVE SYNAGOGUE INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF SOUTHGATE PROGRESSIVE SYNAGOGUE I reFK*t to th8 Cr)uncil on rfty ex8mlnation of the finaw81 statements of Southgate Prcgres$ive Syrogogu& {thg Synagogtjel for the year ended 31 Oecember 2022. Responslbllltl•* and basls of r•port As the Council of th• Synagogue you are respOn￿b￿ for the preparation of the finanaol $talements In 8ccordanc• with the reqUirem￿ts of the CharitiosAcl 2022 (the 2022 Act). Having 881isfied mysdf that the accounts ol the charity are required to bo audrtod under the 2022 Acl and atp ollgible for ind6pondent examination. I report in resp8et of my examlnallon of the synagog￿.6 financiol $lalemants cath•d out und&r séthon 145 01 the 2022 A¢t. In rarying out my examInat￿n I havg folkjwed al the appk'¢obl? Directi￿$ giv￿ by Ihe Charity Cryhmisslon under 8￿tion 145(SXbl ofth• 2022 ACL Ind•pond•nt •x•mln•f'• •t•t•m•nt Sln¢g the Synagogu8'8 gr088 incomè oxcefjd￿ £250.000 your &x8miner must ￿ o ft*mber of a body li$t&d in $8dion 145 01 tha 2022 Act. I confim th81 l am qualified to w)dert8ke the examin81ion because I gm a member ofA88OC>ion of Charttr8d Accountants. i8 one of tlb• listed b￿￿108. Your 8ttenlion is drawn ¢0 the fad that th& tharrty ha8 Wgparnd financial 8t8tgmonts in aLxordar¢e with A¢¢ounllng and Repth'ng by CharitJ6s preparing Ih8ir acctsjnts in accordancg vAth the Flnanclol Rewting Standard applkable In the UK an<1 Republic of Irgland IFRS 1021 In pr•fèrer*ce to the Aceounting and Reporting by ChariUeg." Ststem&nt of Rècommend8d Pro¢1i¢• Istr￿d on 1 Aprfl 2005 whlch Is r•f•rrod tl In th• Oxtant reguL91ions but has now been withdrown. l under8tand that this h88 b••n dort6 In onlor lor fina￿1•1 $talemont6 to yovkje a inje and falr view In arLord8n¢e with Gon•rolly Accopiod ACCOUn￿ng Pr•¢tl¢e effectfve for r*poblng pwiods bo9lnnh)g on or aftgr 1 January 2015. I h•ve completed my oxamlnauon. I conffim that no matters havè to my att•nth)n In connecoon vhth Iht frx8m￿natkln givlng me Cau￿ to b•lltr￿ that in any matsrial rasp￿.. gc¢ounling records w¢r¢ nol kept In rnsp8et oflh• Synagoguo a$ r•qulr•d by s•ctk)n 130 of th8 2022 A¢t; or the flnancLql slat¢ments do not accord ￿th Ihose records: or Ihe firsanraal ststements do not compty wlth the 8PFAicable requlrem&nts Ixjncemlng the fom and contgnl ot accounts $01 out In the charl￿ IA£eoiJnts 8n(l Raportsl R￿Ulat￿)nS 2008 oth•r Ihan any roqulremenl that th• accounts giv• a tru• and fair M•w which 16 not 4 mattor wn•ideYed as wirt of An indopend•nt èxaminat￿. I have no con¢&ms and have come •tt05s rKJ other mattèrs in cijnnection vAth th• exarninatlon to whkh attent￿n should be dravm In thls report in order to enabl• 8 proper understandlng of the financial statèrn?nts lo be reaeh•d. Slephen Coloman ACA Gerald Edelman LLP Chartèred Accountants 73 C¢mhill London EC3V 3a0 Dated.. SOUTHGATE PROGRESSIVE SYNAGOGUE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unr•slrl¢tsd Re8trlct•d fund• funds 2022 2022 T¢)tsl Totsl 2022 2021 Donat￿n$ and leg8ds$ Membèrs, subscriptions Othar tradlng adivltss Investments 2,399 243.71)0 88.981 2,7 10.881 13.280 243.700 86,981 2,700 14.363 236,508 61,486 4.085 Totsl Incom• 315.780 10,881 326,661 316,442 Charitable actlviJ•$ 316,155 12.898 329,053 302,114 N•t1gxpgndltur•lllncom• for th• yMrl N•t mov•m•nt In fund• (375) {2.017} 12,3921 14,32B Fund balan¢e8 at 1 January 2022 803.921 14.925 618.846 604,S18 Fund bal•n¢•• at 31 D•c•mb•r 2022 603.546 12,908 616,454 618,846 Th0 stslemenl of flnanc4818¢Ovth•$ kn¢1￿1¢$ all gairts and kssses r•c¥)9n1S￿ in the year. AJI Incom• And ¥xp8ndilure derrve from continuing 8ctiy1ti￿. SOUTHGATE PROGRESSIVE SYNAGOGUE BALANCE SHEET ASAT31 DECEMBER 2022 2022 2021 Not•$ Flxod a•••t$ Tanglbltr assets 11 253.291 2S3,198 Curr•nt •s*•t• Debtors Cash at bank and In hand 12 14.445 365,278 35,138 374,405 379,723 409.543 Cr•dltor•: amount¥ falllng du• withln on• y•ar 13 116.wl 143.8951 N•t curr•nt ajuts 363.163 365.648 Total *•s•ts l••¥ currnnt Ilablllllo• 616.454 618.846 Ineom• lund* R¥slrScled fund$ 14 12.908 14.925 Dèslgnaled funds Gen8ral unre8trKt8d fvnds 15 312.285 291,261 294,285 309,636 803.546 803,921 616.454 618,846 The fin￿¢101 statements were approved by the Trustees on .. by.. on t*h8W of thg Tru818es Mark Shaw Chalr Stephen L881oy HM. Trnasur•r SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcl•s Charlty Infomiatlon Soulhgate Progress¢ve Synagogue is an Uninco￿lT?10d tharity Tggislered wrfh tho Charity Commission in England and Wale8. Tho p￿rt¢1p￿ address 58 75 Chase Ro8d, London N14 4QY. 1.1 Accountlng ¢oTrv•ntlon The financial slalements hav• t*en prepared in aco)rdaneg wth the Synagogue's gov8mlng documtrnt, the charit￿s Act 2022, FRS 102 The Flnandal Repot11ng StsThJard applicab￿ in the UK and Republk ol Ireland" I-FRS 10fl and Ihe Chanties SORP "Acc￿jnting Reports'tvJ by chant￿.. Ststement of Raeommended Practke applicable lo chariti•$ preparing thèir accounts In 8ccordan￿ wth the Fin8n¢kg1 Reporb'ng Standard appll¢able in the UK and RepU￿le of Iroland IFRS 1021" leffe¢bve 1 January 2019). The Synagogue is 8 Publ1¢ Benefrt Enty as deffingd by FRS 102. Tht Synagogu• ha8 taken advantsge of th¢ prov*kJns in the SORP for eh•dbes not to pr•￿re a Stat•m&nl ol Cash Fbw8. The ffinancl818latements have d8part8d from Ihe Chariti"¥$ (ACc￿Unts and Reports) Rggulations 2008 onty to the 8Xt8nl required to provKJe a true 8nd fair vww. Th1$ departum ha$ involved following the Staltrment of Recommènded Pra¢tice for charities apptying FRS 102 rathw than lh• v&rsiM of tha Slal8ment ol RecCfflMen4J￿ Practica which is reforrgd lo in th8 R•wlallon8 tmjt whlth has 8lrKe bggn wrthdrawn. The finanrAal 8tst&m&nts are prepared In 8terlng. vthlch is the fUnctknn￿ ￿rren￿ of the Synago3ue. Monelary 8mounls In th•se finandal st8tèmnts arn rounded to th& Margst £. The finan¢¥al 8tstemenis have boon pr•p8red und&r thg hi8torul cost c¢nvention, to Include the revaluats'on ol freehold properts'e8 and to include inVestrn￿l properbas and certaln financlal in8trwn&nts al falr valu&. The prindpol ¥¢counllng polldtss thjopled ar¢ out behx. 12 Golng conum Al the tlmg of appro￿n9 the fin8nual statsmenls, the Coun¢41 have a rgasonable axpe¢tslk)n that the Synagogu8 has adequate r•8ources to ￿ntinUe in opernb.onal existence for the for•s8aabl¢ fv￿re. the Council ￿ntinue to adopl the going conwn bas18 of ac¢ountirvJ in preparfng the flnanci818t8t8ments. 1.3 Ch•rltabl• fund& Unrestrleted funds am avallable for u8• al tho dL8crntlon of tho Cwndl In furtheran￿ of Ihelr ch¥ritable obl8Ctivè$. Restriet8d funds ar• subject lo speufi¢ C￿￿11￿•nS by doncrfs a8 to how th&y may be u8ed. The puryyosos and uses ol the restrtded lunds a￿ set oJt in Ihe notes to the financial statèments. 1A Ineom• Incryne i8 recognisod when th8 Synagoguo1810981ty entiued to it aftsr 8ny Ferformance condrtlons have beon mel th& amounts can b& mèasur&J rdlabty. and it is probab￿ that incom& wlll b& roceived. Cash donatK•ns are rgo)gnised cffl T8CWPt. Cther donationg aro recogni8811 On￿ the Syn8gtsgue has notMad of the dc￿atIOn. unless Performan￿ (￿dItiOnS roquire deferral of th& arr￿unt. Incy)mg tax recoverable In rèlation to don8bons re¢eNed undèr GtRAid or deeds of covenant is reeognised at thè lime of the donation. Legacles are recogntsed on receipt or otherwse rf the Syn8go9ue has baen rK)tified of an impending distribub"on. the amounl is knuals b8$b. Thè Synagogu8 b8 wisterad for VAT and gc¢ordlngly •xp6ndlture kndude8 ITrecover•bl• VAT which * charg8d •¥lnsl th• 8wnditure h&adirvJ for whKh il wa$ Incurr￿. CharIt8b￿ gxpendKure rèlate8 lo cosis In ffurlheran￿ of the charitys oblecls anil include both direct co$18 and 8upport ¢08ts. Support costs Indude govemen¢e costs reprwnled by audll costs and other professkxal fags In¢urr•d in conn•¢lltsn wllh mo•Yr8 of th• ¢h*iiY8 ¢on8titub'ond ar*d $tsluW oblvJab'ons. 1.6 Tanglblo flx•d a•••ts Tangiblo fixed assets are inili81ty m8sured at o>st and subs8quenlty w8ured at co$1 or valu8bon, net ol depre¢ialion and any impaimi8nl losses. Deprnclalon Is recognlse(J so as to wr1¢& off the cost ty ¥ahJakn of a88ets hss th•lr Toshjual values 0￿r Ihelr useftjl liv•$ on the folbwing bas88'. Freehold kgnd and bulkllngs Pl•nt and oquiprnent FlxbJrg$ and fitting$ Nll 25Yo 8traWt Llne per ¥nnum 10% Straffjht Lkne per annum The galn or1083 arising on the disposal ol an asset is dtrterminod as the drff8w¢t betr￿en sale pn>¢g¥ds and thè ¢arrying Val￿ ol the a88et. 4nd is recogno¢d in the statèm￿1 of finan￿[ athtJ•8. 1.7 ImpalM￿nt ol amets Al each reporting end dale, the Symagogve reviews tho carrying amounts of Its tangible ass•ts lo detamlne whether ther8 is any indicatlon that those assets ha￿ sutfered an impairment loss. If any such Ind¢ation exlsts, tha r8¢overable amount of the osset is estim*¢d ￿ (¥der to d*erMI￿ lh¢ ¥xtent of th& impairmanl loss Irf any). 1A Cash and cash oqulval•nts Cash and cash equiv8bnl3 include c88h In hand. dèposits held al with banks. other ShOrt4e￿ Ilwid Investments vthh original maluribes of thm l￿fflthS or boss. and bank overdrafts. Bank overdrafts are shvwn within botrowing6 in Current liabith'ties. SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ae¢ounting poll¢l•4 (Continued) 1.9 Financlal instrumènts Th8 Synagogue has $lected to appty tho provisK￿S of Seclion 11 'Baslc Finan¢l81 In8trumerts' 8nd SectK)n 12 'Olher Financial Inslruments Issu8s' of FRS 102 to 911 ol Its finan￿￿ instruments. Finan¢lal in8lrum&nl$ are reccgnl8ed n th8 Synagogue's balgnce sheet wh¢n tha Synagogue b8como5 paty to th• contractu81 provisions of th• In8trum8nt. F￿ancial 8$8els and Ilabililies are offset. the nst amounts prnsenled in tho financial stst•ments. vthen there is a legally enl¢)rceable rvjht to set off tho roc*)gnlsed amounts and there Is an Intention to $8tt18 on 8 nel bas1$ or lo regli$o the asset and sewe the li8ts.lty simdtsnaou$ly. 8•81¢ flnan¢l•l •**•t* Basic financial a$￿ts. Tr•thith indude d8btors an*Y rA8h and bank balanc9$. ère in￿alty mgasured Iransaetlon price InclLJding transaetion costs and ar• subsequently ¢arrfed at amortJs8d cost LKsSng the effeetive Intomst method unless the arran9emenl consthJte8 a finantyng tr&nsactK￿. wh8r8 thè tranBactlon 18 measured al th• pr•senl vabje of th¥ future recgipts discwnted 8t a martat rats ol inl8rn$L Flnanaal a￿•ts classlfi¢d as rK8lvable wrthln one year are not amrylised. 8•¥lc Iln•n¢lal Il•blllU•* Baslc financlal liabilitièg, Sncludlng cr•dIl0￿ and bank Inll5811y rwnls•d al knnsactijn price unl•ss th8 arrangern￿l constltutos a fin8n¢lrBJ tran&ictlon, where d¢bl instrumant is measured at the prgs8nl V81u8 of Ihg future paymgnts di3cwnt8d 818 market rat& of interest. Financial liabillUe$ das￿rIed as payabla wtthln ong year are not •morb8ed. Debt In8truments are suwuonty ¢arrl•d at arnortw u8lng iho offtdve int•r•$t ratè m￿0d. Trade crndltor8 are obllgatlons lo poy lor g¢*>ds or that have baen acqukad In th• ordlnwy course of operatkns from suppliers. AmoLtnts Payab￿ arn cL4ssrfied as current Ilabllit￿s K payment is due wrthin ono y¥ar or less. If noL they are prowled 88 non-¢urrenl liats"Iti•$. Trade credrtors are recognlsed inltlally al Ir8n$ath'on prke and suWu•ntry measurod al aMOrt￿ ￿8¢ using the offeclive int&r&st method. D•rn¢oqnltlon of Iln•nckl ￿bHIll•S Finandal 118b41Nle$ are dargcx4Jnl8ed vthon th¢ Synagcwe's c*)nlr8d￿aI oblioatkjns explm c* ar8 dS8charg•d tsr canc•lW. 1.10 Employ•• b•n•fft• The cost of any unused holhday entitl•m￿t Is reo)gnl*J In thè pwkjd In whKh ￿m￿¢y￿eS sorvl¢os ara recèivod. Teminalion banttfrts are rècognv68d immodlatgly as an exp8ns• ￿en thg S￿ag0JU• 1$ dèmonstrably •rnmlttwJ lolorminato tho empk)ym￿t of ￿ empbyee or to tsrrdnaljcfi ￿n&fits. 1.11 Retir•m•nt benefits Payments to defined contrlbulk)n rètirwn8nt benofft Schemes ar• (*arged as An expense as Ihoy fall due. 10- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 crftleal a¢¢ountlng •$tlmat¢s and judg*n￿nts In the applif2tK*n of the Synagogue's accounb.ng policies, Ihe Council are requirod to make judgements, estimates and assumpt￿nS about thè caryrBJ anw)unt of assets and liabilities that are not readily apparent frorn other sourc&$. The estimat•s an(1 associat•d assumpth)ns arg based on historical experienea and other f¥¢lor8 that arg con8ider•d to bo relgvant. Acbjol rt&ult8 may diffor from these o$b"mats8. The estlmales and undèrtying assumptions are reviewed on an ongoin9 basls. Revisk)n$ to accxjunllng e8timat&$ are recognlsed in the period In vthk* the ests"m8t• 15 remsed where the rawsion affects cmly that P8riod. or In the per6od ol the re￿iOn and thjre pa￿￿￿$ ¥ther8 tho ml8ion affects both ￿rrent and future p8rlods. Incom• from: Unr••trl¢t•d R•strl¢t•d nd¥ fund¥ Totsl Total 2022 2022 2022 2021 D¢)nafj¢ns and gifts 2.399 10.881 13.280 14,363 M&mkrs' 8ubs¢Ylpll)n8 243,7D) 243,700 236,508 Oth•r In¢offl• Burfal and fvntrral Inco Other 8ynagogu• ¥¢tNths Rdigion school Rabbl's d1scrèt￿nary lund donath)ns Prgmises lettlng 7,895 6,118 1,177 8,299 1.690 1.6 49,444 49,444 46.296 Total other kncomg 86,981 66,981 61.486 Inveskngnt8 2.700 4,085 For th• y••r •nd•d 31 DK•mbw 2022 315.780 10,881 326,661 For th• y•ar •nd•d 31 D•c•mb•r 2021 305.433 11.00 316.442 11 SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ch•rft*bl• actMtl•s 2022 2021 fund• 2022 fund* 2022 RelwJlou$ actiwtios On¢luding Rabbi salary) Burial and funoral costs Religion sthool Other syn8gogu8 ath't PromSse8 costs Affiliailon fees and levy Admlnlstration Indopendent 0￿MIn0￿8 fees for th• examlnath)n of the aiuunts Independent examinerfs aKounl8n¢y lees Donats'on¥ D•prociaUon 1fyJ.390 42.050 17.981 1,375 39,898 44,790 54.695 100.3 42,050 17.981 1.375 39.B98 44,7 54,695 84,076 45,250 18,113 1.158 46.897 31.813 50,557 3,200 4,618 9,448 4,618 4.618 12.898 6.258 12,898 6,258 315.255 12.898 328,153 302,114 Don•¢lon• 2022 2021 Dmatic￿$ to In$tMutions'. HEqh Hoty Day appeal dlslrfbutbnb Othgr donauons 10,881 246 11.009 210 11,127 11,219 Support ¢04ts Support Gov•rn•n costs 2022 2021 Audit fees Accountanc 3.2fy) 3,200 4,618 4.618 4,618 4.618 3.2 7,818 7,818 Trust••s None of the Trustees {or any persons connectsd wtth them) rec8Ngd arry remuneration or l￿nefftS from thg chafity during the year. No exF*nsts were paid to the Trustèes in the year under review. 12- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employm* Numbor of •mploy••8 The avèrage monthly number of gmpk)yee8 durirg ts y￿r was.. 2022 Numb•r 2021 Numb•r Full time Part li Employm•nt ¢o•ts 2022 2021 Rabbls $818ry Teachar8 salartes Barmi1Thgh 1oather8' ￿laries C¥relak8rs salary Admlnislration salary Soci81 security costs other pgn$ion costs Benefits In ￿nd SB,063 15,094 2,006 13,733 32.590 S.091 5,618 2.674 58.555 13.801 3,438 10,959 25,547 5.703 6,269 3.257 134,869 125,329 The èquivalant number of full time staff kn r•yct of port time 8taff 1$ 412021- 3). There was 1 12021- 11 empknyoa *th088 amual rgmunèration £60,fy)O or mor•. Profvsslonal Ina•mntty th•urnnc• Trustee Indemnty Insurance wovl¢Jes o)ver for legal rLJsts and èxpensès Incurred In defendlng 8gain8t disqu8lffication 8$ a Iruslee, aNJ inv8stlgaUon$ or extradthn proceedings, protecting the Iruslee's pgrsonal 8ltl). The limh Oft￿ ind&mnHy o)ver is £5IXI.0￿ in th8 aggrégats. 10 T￿tIO Thg tharlty Is èxempt fTom tax (y) irKorr* and gains faNing ￿lhI￿ section S)5 of the Taxes Act 1988 or sectlon 252 of Ihe Tax¥tionof chargèab￿ Galns Act 1992 lo the extenl that these 8re to its charitable objects. 13- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 11 Tanglble fix•d assats Fv••hold *nd Pi•rrt4nd Flxbjrm and and bull*b •4uIwMnt Ilttlny Total Cost Al 1 January 2022 Addlbon$ 234.161 8.958 352 61.516 304.625 6.352 Al 31 Doc•mb¢r 2022 234.151 9.310 67,516 310,977 D•pr•¢latlon and impalrnwrt At 1 January 2022 D•preciafjon chargod In Iho yoar 5,254 1,764 48,174 4,494 51,428 6,258 Al 31 Decomtfjr 2022 7,018 50.808 57,686 Carylng amount At 31 Decembor 2022 234,151 2,292 16.848 253.291 Al 31 December 2021 234.151 3.705 15,342 253.198 Fre8hold18nd bulldings have not beM v8lu•d and are used sdoly for charftsble purposos. 12 D•btoYs 2022 2021 Amounts falllng du• wlthln on• y••T: Olher dtrbtors Prep8ym¥nts and a￿U9d In¢om• 7,321 7,124 33,988 1,150 14,445 35,138 13 Cr•dltor•: •mount* f•lllng du• wlthln on• y•ar 2022 2021 Othtrr laxalion and sodal sec￿rIty Deferred Incom8 Other creditors A¢¢¥uals 2,916 2,317 12,708 37,894 16.560 43.895 14- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14 R•strlctsd funds Tha Income funds of th& chanty include restric￿ funds ￿mp￿S1￿ tho foll￿n9 U￿Xp8ndad b8lanc8s of n8llons and grants hald on trust for specific purFoses: IAov•mènt In funds Mov•rn?nt In fvnd¥ In¢omln9 ft•￿Te￿ 8•l•nc• 41 Incomlng R•wwG Bal•ntt• at ourt•s •X￿n￿d1 Januwy 2022 T•¥o¥r¢•• 31 Dg¢qmb•r 2022 B*l*ne• at l J￿￿¥Y 2021 S¢holarship fund Charltles fund Hlk48 S¢hlndler Fund Harry Jaeobl Lo¢tur• Fun¢J 853 853 11.C#)9 19.2381 1.771 10,881 (12.6521 2,511 2.511 2.511 10.000 {210) 1246) 9.544 13,364 11.009 {9.448) 14,¥25 10.881 112,8981 12,908 Tht 3¢holHrnhlp fund w8$ 8•1 up ¢0 provklg educallonal 8cholar8hip8 to tligible momborn. The thar￿88 fijnd w88 88t up lo d181ribule to ¢hgfitgbl8 cau808. FurKls are prfnclpally ral88d from Indlvldual donatkns through the High Hoty D•y and ￿•r appeals. The Hllda Schindlgr Fund was e8tabli8h8d from a l¢ga¢y from thè •slate of the late Hllda S(*indler former Lrf¢ Pr*sKlant of thè Synagogue. The lund8 are splf( belwn Ihè choir, childrnn and youth acdvSties but wag left lo the dl8¢reUon of the Rabbl. Ch8lr gnd Life President. The Horry JO￿bI Annual Memoiial Lecture Fund was esfablshed from a legacy received from the estat8 of tho Lgle Rab￿ Harry M Ja¢gbl. Emorltus Rabbi ol Southgate Progressivo Synagogua. Tho funds aro to b• It•ed to G¢)¥cr thv Gtstyts inVo￿d in ho6ting an annL*l mwnorial l•olur• •nd •n•urin8 it l• •v•ll*bl• to lh• wkler Llberal and other Jewlbh tr)mmunrfl•s. 15- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 15 DMlgnat•d funds The Income fijnds of the charity Ir￿l￿de the fdkjwry desI￿a￿ fvnd8 *•thl¢h hava been set asldè out of unrestrthd ftjnds by the InJstee$ fw w¢tftc purF*Jses: Movem•nt In fvnds In¢omlng B*lanc• Il r•sourc•• 31 D•vmb•r 2022 B•l•nc• •t Tr•n•fw¥ B*l*nt• •t 1 Jlnuary 2021 1 J￿￿ary 2022 8uri81, c￿m4￿.0n and fungrnl fund Roof r•p3lrs fund Rabbl's dlscrèllonary fund 225,000 232.(Krt) 8,000 10,000 240.000 70,000 2.285 10,Crf)O 2,285 2.285 277.285 17.C¥X) 294.285 18,000 312.285 Tha burl81. cr•malion and fun8ral fund was Eet up to baar the of burlal. ￿ mm8Uon, aThJ I￿•r81 of mombers ol Ihe burial schem•. Thg roof repl8coThnt fvnd whkh was e8t&bliBhed in 2016 to wide for tha rnplgc*m•nt of th8 rojf. Tho Rabbl's dlscrètlonary fijnd wa$ $•t up for tho purpos• of m•klrYJ small charltabb donation8 to membgrs at di￿retIOn of the rabbi an¢J 9x￿tI￿. le An•lyffjh ol n•t au•t• b•tw••n fund• Unrnstrlet•d RMtrkt•d funds fund• 2022 2022 Tot•1 Unmtrlct•d R•strlet•d fund• fund* 2021 2021 Total 2022 2021 Fund belances 8131 D•cambor 2022 *r• rgpresonled by.. TaThJlble 8588ts Current assetsllli8bililiesl 253.291 350.255 253.291 363.163 253,198 350,723 253,198 365,648 12.908 14,92S 603.546 12.908 616,454 603,921 14,925 618.846 16- SOUTHGATE PROGRESSIVE SYNAGOGUE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 17 Op•ratlng l•as• commltm•nts At th& reporting end dato the Synagogu8 had outstsnding ojnmitmants for fijture rnlnimum ￿a$8 paym8nls under nonrycancellable operobng leases, whith duo as fdhM: 2022 2021 Wlthln one y•Ar 2.092 18 R•lat•d p•rty tr•n¥Ktlon• Remun•r•tlon of key manag•m•nt p•r¥onn•l The remunfjrati￿ of key manag8n*nt ￿rSonnel is as Idkn￿. 2022 2021 Aggr•9ale compensalion 66,5C 65.452 Tran•actlons wlth r•lal•d partl•¥ Durlng the year the Synagogue entar¢d into th• folkThing tran88etlon8 rola￿j partle8'. Totol membershlp subscriptKins and d￿atIOnS made by council members amount to £8 540 12021 - E7,2291. Ther8 were no olh¢r relat•d party trans8￿￿5 durfng y￿r nor guaranteas gi￿rt or le￿1¥￿d. 19 APB Eth1￿1 Stsndard r•l•¥•nl clr¢um•tane•• In common wth many entrflas of tyjr 81zo wè u8• 1ThJep￿denI oxamNWS to a$$l81 wmh th• prepwauon of thè aCC￿j￿￿. 17-