**Charity registration number 243901**
# **THE OHEL DAVID EASTERN JEWRY CONGREGATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr. Moshe Moses|
|---|---|
||Mr Barook Hyam Abraham|
||Dr. David Mallory Barnett|
||Mr. Simon Cohen|
||Mr. Benjamin Elias|
||Mr. Michael Joshua|
||Mr. Meyer David Lanyado|
||Mr. Isaac Cooper|
||Mr. Ephraim Solomon|
||Mr. Jonathan Teper|
|**Charity number**|243901|
|**Principal address**|30 Shirehall Park|
||London|
||NW4 2QL|
|**Accountants**|Pasha & Co.|
||220 The Vale|
||London|
||NW11 8SR|
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Accountants' report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 9|
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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).
## **Objectives and activities**
The charity objective is to provide support for Eastern Jewry Synagogue and community activities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Financial review**
The trustees have pursued the objects of the Charity throughout the year under review and have made charitable gifts totaling £34,000 (2021: £62,797). In the period under review, the Charity had made a deficit £5,787 (2021: deficit £58,967).
Unrestricted funds are needed to provide funds which can be designated to specific projects to enable those projects to be undertaken at short notice and to cover administration and operating costs without which the charity could not function.
The trustees consider it prudent that unrestricted reserves should be sufficient to avoid the necessity of realising fixed assets held for the charity's use and to cover, at least, one year's administration and operating costs.
The level of reserves are monitored and reviewed by the trustees during the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity was formed by a declaration of trust dated 3rd June 1959 and a supplemental deed dated 26th January 1960. The Trustees are empowered to hold the trust fund as capital and income upon trust or to apply the same:
a) For the Furnishing, equipping and fitting out of a synagogue for the use of the congregatoin.
b) In defraying the running expenses of the synagogue including administrative expenses properly incurred by the trustees or by council.
c) For other such charitable purposes as the trustees think fit.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr. Moshe Moses
Mr Barook Hyam Abraham
Dr. David Mallory Barnett
Mr. Simon Cohen
Mr. Benjamin Elias Mr. Michael Joshua Mr. Meyer David Lanyado
Mr. Isaac Cooper
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## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
Mr. Ephraim Solomon Mr. Jonathan Teper
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees have indefinite appointments. Their function is to hold and manage the charity assets. The council members are appointed for two-year terms and the trustees act at their direction. Some of the trustees are also council members.
The trustees' report was approved by the Board of Trustees.
## **Mr. Moshe Moses**
Trustee Dated: 28 December 2023
**Dr. David Mallory Barnett** Trustee Dated:28 December 2023
- 2 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE OHEL DAVID EASTERN JEWRY CONGREGATION FOR THE YEAR ENDED 31 DECEMBER 2022**
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of THE OHEL DAVID EASTERN JEWRY CONGREGATION for the year ended 31 December 2022, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rulesand-standards/rulebook.html.
It is your duty to ensure that THE OHEL DAVID EASTERN JEWRY CONGREGATION has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of THE OHEL DAVID EASTERN JEWRY CONGREGATION. You consider that THE OHEL DAVID EASTERN JEWRY CONGREGATION is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of THE OHEL DAVID EASTERN JEWRY CONGREGATION. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
## **Pasha & Co.**
28 December 2023
## **Chartered Certified Accountants**
220 The Vale London NW11 8SR
- 3 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**2022**
**2021**
**Notes**
**£**
**£**
**Income from:**
Investments
**2**
29,113
29,385
**Expenditure on:**
Charitable activities
**3**
34,900
88,353
**Net expenditure for the year/**
**Net movement in funds**
(5,787)
(58,968)
Fund balances at 1 January 2022
1,857,606
1,916,574
**Fund balances at 31 December 2022**
1,851,819
1,857,606
The statement of financial activities includes all gains and losses recognised in the year.|**Unrestricted Unrestricted**
**funds**
**funds**
**2022**
**2021**
**Notes**
**£**
**£**
**Income from:**
Investments
**2**
29,113
29,385
**Expenditure on:**
Charitable activities
**3**
34,900
88,353
**Net expenditure for the year/**
**Net movement in funds**
(5,787)
(58,968)
Fund balances at 1 January 2022
1,857,606
1,916,574
**Fund balances at 31 December 2022**
1,851,819
1,857,606
The statement of financial activities includes all gains and losses recognised in the year.|
|---|---|
|The statement of financial activities includes all gains and losses recognised in the year.||
All income and expenditure derive from continuing activities.
- 4 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Investment property
**8**
Investments
**9**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
General unrestricted funds
Revaluation reserve|**2022**
**£**
**£**
1,600,000
353
1,600,353
253,122
(1,656)
251,466
1,851,819
304,710
1,547,109
1,851,819
1,851,819|**2021**
**£**
**£**
1,600,000
353
1,600,353
258,909
(1,656)
257,253
1,857,606
310,497
1,547,109
1,857,606
1,857,606|**2021**
**£**
**£**
1,600,000
353
1,600,353
258,909
(1,656)
257,253
1,857,606
310,497
1,547,109
1,857,606
1,857,606|
|---|---|---|---|
||||1,600,353
257,253|
||||1,857,606|
||||1,857,606|
||||1,857,606|
The financial statements were approved by the Trustees on 28 December 2023
Mr. Moshe Moses Dr. David Mallory Barnett **Trustee Trustee**
- 5 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
THE OHEL DAVID EASTERN JEWRY CONGREGATION is a legal charity founded by trust deed.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
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 settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
## **1.6 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **2 Investments**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|Rental income|28,990|29,370|
|Interest receivable|123|15|
||29,113|29,385|
## **3 Charitable activities**
|**charitable**
**activities**
**charitable**
**activities**
**2022**
**2021**
**£**
**£**
Insurance
-
4,416
Charitable expenditure heading 2
-
20,240
Charitable donations
34,000
62,797
34,000
87,453
Share of governance costs (see note 4)
900
900
34,900
88,353|**charitable**
**activities**
**charitable**
**activities**
**2022**
**2021**
**£**
**£**
Insurance
-
4,416
Charitable expenditure heading 2
-
20,240
Charitable donations
34,000
62,797
34,000
87,453
Share of governance costs (see note 4)
900
900
34,900
88,353|**charitable**
**activities**
**charitable**
**activities**
**2022**
**2021**
**£**
**£**
Insurance
-
4,416
Charitable expenditure heading 2
-
20,240
Charitable donations
34,000
62,797
34,000
87,453
Share of governance costs (see note 4)
900
900
34,900
88,353|
|---|---|---|
||**2022**
**£**
-
-
34,000
34,000
900
34,900|**2021**
**£**
4,416
20,240
62,797|
|||87,453
900|
|||88,353|
- 7 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **4 Support costs**
|Accountancy
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
-
900
-
900
-
900|**2022**
**£**
900
900
900|**2021**
**£**
900|
|---|---|---|---|
||||900|
||||900|
Governance costs includes payments to the accountant of £900 (2021- £900) for accountancy fees.
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefit from the charity during the year.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **6 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **7 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **8 Investment property**
|**Investment property**||
|---|---|
||**2022**|
||**£**|
|**Fair value**||
|At 1 January 2022 and 31 December 2022|1,600,000|
The trustees have revalued the fair value of the investment at its market value. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
- 8 -
## **THE OHEL DAVID EASTERN JEWRY CONGREGATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **9 Fixed asset investments**
||**Unlisted**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 January 2022 & 31 December 2022|353|
|**Carrying amount**||
|At 31 December 2022|353|
|At 31 December 2021|353|
The listed investment has valued based on the market value available at the end of financial year.
## **10 Financial instruments**
|**10**
**Financial instruments**|||
|---|---|---|
|**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**11**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2022**
**£**
353
**2022**
**£**
756
900
1,656|**2021**
**£**
353|
|||**2021**
**£**
756
900|
|||1,656|
## **12 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 9 -