Nottingham Liberal Synagogue (Registered charity, number 246773) Financial statements for the year ended 31 December 2024 Page Contents Trustees, annual report Independent examiner's report Re￿iptS & payments account Statement of assets & liabilities Notes to the accounts 10-11 capLUS COMMUNftY ACCOUNTING Nottingham Liberal Synagogue Trustees, annual report for the year ended 31 December 2024 Full name Nottingham Liberal Synagogue Registered charity number 246773 Principal address Lloyd Street Sherwood Nottingham NG5 4BP Trustees Susan King, Chair Antony Moss, VI￿-Chair Norman Glyn Jacobs (until 1810812024) Jeffrey Book, Hon Secretary Rachel Reeves, Hon Secretary Paula Scott David Bogod Peter Gordon Naomi Posner Nick Rubins Catherine Strauss (until 2110412024) Allyson Kingsley Michelle Hillary (until 2110412024) Ayari Tudor-Jones (until 2110412024) David Lipman, Holding Trustee Danny Rubins. Holding Trustee Michael Harris, Holding Trustee David Leigh, Treasurer (from 1810812024) Independent examiner John O'Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG15GL Governance and management The charity is operated under the rules of its constitution adopted 1510911965 and most re￿ntlY amended 2110412024. Trustees are elected at the AGM or can be co-opted by the Council. All new Trustees are briefed by the Chair as to their duties and responsibilities at their first meeting attended. Where specific training is identified as necessary, to ensure that Trustees can carry out their responsibilities, this training is undertaken. All Trustees sign a declaration that they are eligible to act as Trustees of the organisation as required by the Charities Commission. Nottingham Liberal Synagogue Objectives and activities The object of the Congregation is the advancement of Liberal and Progressive Judaism. Summary of the main activities undertaken for the public benefit In furtherance of our objectives and activities, the Congregation has the following obligations.. To provide and maintain a place of worship and spiritual leadership. To conduct servI￿s. To provide religious education for members and their children., d) To provide facilities for the instruction of proselytes under the rules of Liberal Judaism. To solemnise baby blessings, BarlBatmitzvah, Kabbalat Torah, Marriages, Burials and Cremations for members" To perform such other religious, social and charitable activities as the Council shall determine., b) g) To use its best endeavours to play an active role in the life of the Jewish and wider communities: h) To be a member of Liberal Judaism and to support its aims. Public benefit ststement The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidan on public benefit, 'Charities and Public Benefit,. Summary of the main achievements during the period 2024 was an extremely busy year, with a continued emphasis on in person events, with a Zoom option where possible for those unable to attend for health or other reasons. As ever our activities have encompassed the religious. spiritual, social, educational, civic and interfaith. We couldn't have achieved this depth and breadth of activity without the continued leadership of our rabbi, Gill Zidkiyahu. We have all continued to be affected by the events of 7 October 2023 and their aftermath. She enables members to speak about their feelings when appropriate, and have discussions without political conflict, recognising the multi-layered responses we all have. Especially during the High Holy Day period, which included the anniversary of these terrible events, Rabbi Gill was able to balance commemoration and hope, and even joy. All our work is also dependent on the contributions of our other staff.. community development worker Wendy Prestney. administrator Lauren Knifton Fainberg, Alex Mottier our cheder administrator, and Chris Woodward our caretaker, and all our volunteers. Between 30 and 50 % of our members volunteer in some capacity, either taking on specific tasks or chairing or participating in our committees. Nottingham Liberal Synagogue Following the constitutional amendments that were passed at the last AGM, we have separated the roles of committee chairs and trustees. We have worked to make council meetings more strategic, being aware of our charitable purposes and the requirement for us to demonstrate our public benefit. As a religious charity, we are allowed to restrict our benefit to our members and visiting Jews. However, we do offer a very significant benefit to the wider public, especially via our educational visits. Council also monitors and manages risks to our ability to achieve our charitable purposes, e.g. risks to our finances, to our building, to our activities etc. We use the Charity Governance Code to guide our strategic thinking. The first priority objectives we identified for 2024 were: Finances.. keeping track of them and making sure they are on an even keel. We have a new treasurer and finance committee in place. Membership: growing it and particularly focusing on the demographic challenge: attracting and retaining younger adults and young families. We have a small group of members in their 20s and 30s, and a few new young families. Maximising member engagement and sense of belonging, an area which is the focus of much of the activity of Rabbi Gill, Wendy Prestney, our community development worker, and our welcome team. Leadership development and succession planning, which continues to be a challenge for us, as for many organisations. All of these will require continued work in the coming years. Susan King, NLS Chair Financial review I took up the role of Treasurer in mid-2024 when the Congregation's finances were suffering a cash flow crisis. I would like to thank my two prede￿SSors, Glyn Jacobs and Darren Barker, for their invaluable help and support as, mixing my metaphors, I picked up the reins and helped steer the good ship NLS back to a calmer financial waters. The crisis is now behind us. One key factor was the late receipt of membership subscriptions. The introduction of direct debits for subscriptions payments has significantly redU￿d this issue with the additional benefit of simplifying the bookkeeping. The accounts this year have reverted to a Re￿Ipts and Payments basis since we are once again below the turnover threshold for accruals accounts. We finished the year with a 'typical' deficit of approx. £8.600. In round numbers, our key income streams are subscriptions (£71,400), Rabbinic Fund donations (£26,400), general donations (£17,900), Gift Aid (£23,700), and donations towards the cost of our Community Development Worker (£15,300). Together these make up £155,000, or 82 % of our income. Other fund-raising activities and events. including school visits, the Jeremy Sassoon cOn￿rt and sales from the Judaica shop brought in over £10,000. Nottingham Liberal Synagogue Our major outgoings are salaries and associated costs (£127,900), and affiliation fees to LJ and other organisations (£15,100), amounting to 72 % of our expenditure. We made donations, including the Kol Nidrei Appeal, of £7,400. Other expenditure (maintenance, professional fees, utility bills, insurance, admin costs etc.) amounted to £36,900, including £6,000 for the removal of the memorial wall at the cemetery. We are very grateful to the donor who financed this. One small point of note - we no longer pay any ground rent as we now of course own the Lloyd Street freehold. Membership has been steadily increasing in the last few years. At the time of writing, we have 184 households with 233 adult members - 204 full and 29 associate members. We withdrew £25,000 from our Rabbinic Fund reserves held with NS&I to help defray the cost of employing a highly experienced full-time rabbi. We continue to hold the Rabbinic Fund reserve of £160.000 with NS&I, currently earning 3.3 % . The events of the last two years have depleted our general and Rabbinic Fund reserves by £88,000. We have set up a Finan￿ Committee to focus on the key tasks of how to rebuild our reserves from both internal and external sources, ensure the shul's long term financial viability and establish financial policy guidelines. The Finance Committee also helps with handling some of the day-to-day issues. The accounts presented today show the return to a 'normal' situation after a heady 2023 when we purchased the Lloyd Street freehold and the mid-year turbulence. 'Normal NLS finances, means a manageable, but significant deficit of income vs expenditure, this year of some £8,600. We can cover this gap, but at the cost of further depleting our reserves. NLS has always been a small congregation with big ambitions. We built our shul and now own the freehold. We employ top-class rabbis. Most of our outgoings are fixed so there is little we can do to reduce our costs in the shortlmedium term. We rely on additional donations to help keep our subs reasonable. The Finance Committee will be bringing fO￿ard proposals for our long tenn financial security but for the time being, I would call on all members to review how much they contribute to the shul, either via subs or additional donations, to see whether an increase would be sustainable for you. If you can afford a bit more, please consider doing so and contact me so we can set things up together. A lot of small contributions can add up to a big difference. If every household contributed an extra £10 per month, it would generate an additional £21 ,600. I would like to thank all members of the Finance Committee for their support and commitment, Sandra Russell for meticulously maintaining the Judaica shop accounts and Barry Callieu for looking after the Kitchen Crew accounts. David Leigh Honorary Treasurer Nottingham Liberal Synagogue Risks The major strategic financial risk is that income does not cover our annual outgoings. We minimise this risk by encouraging additional donations from members, running fund raising events and, if required, transferring funds from the reserves. Day to day financial risks are managed by having a policy requiring Council approval for any unusual or large items of expenditure. All expenditure is supported by documentation. All payments (cheques and BACS transfers) are signed by the Treasurer and countersigned by another duly authorised Executive member. The charity's policy on reserves We hold reserves to allow us to face unforeseen financial commitments and expenditure. Our target is £100,000 which represents approximately six months, expenditure. The Rabbinic Fund NS&I balan￿ stands at £160,000. We add to the reserves from time to time. if the financial situation permits. The policy is reviewed annually. Signed on behalf of the charity's trustees: Signed Susan King, Chair Date 0110412025 Independent examiner's report to the trustees of Nottingham Liberal Synagogue for the year ended 31 December 2024 I report to the trustees on my examination of the accounts of Nottingham Liberal Synagogue (the charity) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed John O'Brien MSC, FAIA, FCIE Employee of Community Accounting Plus Date 0210412025 Nottingham Liberal Synagogue Receipts & payments account for the year ended 31 December 2024 2023 2024 Total Unrestricted Restricted Total Funds Funds Funds Funds Note Receipts Burial Fund and funerals Sundry income Grants and donations Events Fundraising actimties GiftAid Investment income Members subscriptions Guild income Total receipts 13238 5086 163258 19035 736 36475 3591 58096 7203 2096 17895 10194 529 17189 7203 2096 64585 10194 529 23737 6386 71375 3401 189506 46690 6548 6386 71375 3401 129882 299515 59624 Payments Fundraising costs Affiliation fees Cheder costs Cost of Events Donab'ons made Funeral expenses InSUra￿e Management / admin costs Professional fees Rabbi costs Rent / rates Equipment. repairs arKI renewals Services costs Sundry Expenditure Uti lities Wages. Nl & pensions Guild e>penditure Trips Total payments 221 14645 3382 2334 375 4674 7390 6878 3793 7400 425 189182 353 4383 7169 110752 524 15132 459 3407 657 1340 6314 5554 5516 2937 524 15132 459 3407 7418 1340 6314 5554 5516 5874 6761 2937 14384 324 439 5152 67791 4260 14384 324 439 5152 122081 4260 54290 15640 378996 134190 63988 198178 (79481) 291520 Net receiptsl(payments) Cash funds at start of this period Transfers bebNeen funds Cash funds atend of this period (4308) 8695 4387 (4364) (8672) 203344 212039 4387 203367 212039 203367 Nottingham Liberal Synagogue Statement of assets and liabilities at 31 December 2024 2023 2024 Cash assets Bank accounts Cash in hatKI Note 211813 226 212039 203346 21 203367 Other monetary assets Debtors and prepa￿nentS Stock 23217 1595 24812 21078 2127 23205 Assets retsined for the charity's own use Synagogue (freehold), cost £1,425,520 Scrolls, cost £114,539 Silverware, cost £32,151 Cemetery land, cost £14,000 Wooden shelter, cost £38,112 PC & aLKlio equipment. purchased 2023, cost £2,904 Water IEater, purchased 2024, cost £1,100 Liabilities Creditors 14974 (14974) 7412 (7412) These financial statements are accepted on behalf of the charity by: Signed David Leigh, Treasurer Date Nottingham Liberal Synagogue Notes to the accounts for the year ended 31 December 2024 1. Receipts & payments accounts Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand. 2. Grants & donations Unrestricted Restricted Total Rabbinic furKI donab'ons Sundry grants & donations 26469 20221 46690 26469 38116 64585 17895 17895 3. Funds analysis Opening balance Receipts (Payments) Transfers Closing balance Restricted funds Rabbinic Kol Nidrei Alan Mann Scrolls restoration Community Development Worker Building FurKI 188880 6000 4227 3450 787 33086 4869 56 {36700) (6461) (300) 185266 4408 3983 3450 15353 6260 59624 (20527) 4387 6260 4387 203367 203344 (63988) Unrestricted funds General 8695 129882 8695 129882 134190 4387 (134190) (4387) The specific purposes for which the funds are to be applied are as follows The Rabbinic fund is used to support the cost of employing a Rabbi, the investments held in the NS&I bonds form part of the Rabbinic Fund. The Kol Nidrei appeal is used to collect and distribute donations to annually nominated charities. The Alan Mann fund is used for bursaries to help members attend synagogue andlor external events. The Scrolls Restoration fund is for the repair and restoration of our Sefer Torah scrolls. The Community Development Worker fund fInan￿S the post of the Community Development Worker. The Building fund is to support the enhancement and development of the synagogue buildings. 10 Nottingham Liberal Synagogue The transfer from the General fund to the Community Development Worker fund is to cover the deficit on this activity. 4. Debtors and prepayments Gift aid receivable Insurance - prepayment 19844 1234 21078 5. Creditors Deposits held Professional fees 5912 1500 7412 6. Trustees, remuneration Trustees re￿iVed no expenses, remuneration or benefits in this period. 7. Related party transactions Trustees Danny Rubins and Nick Rubins are directors of QD Commercial Group Ltd. In the year the following expenses were paid to QD Commercial Group Holdings Ltd.. Management / admin costs: £521 Repairs I renewals: £2,513 8. Glossary of terms Creditors: These are amounts owed by the charity, but not paid during the accounting period. Debtors: These are amounts owed to the charity, but not received in the accounting period. Prepayments: These are Ser￿l￿S that the charity has paid for in advance, but not used during the accounting period. Restricted funds: These are funds given to the charity, subject to spectfic restrictions set by the donor, but still within the general objects of the charity. 11