li 't Number: 94S Beferettce and Administrative Inforniation Charity Number: 248945 PrIncIp Offiee: 8 StJames's Gard1 Holland Pat Wl14RB Esecutive Committew. Nwmi Gr lawa Bth Lautenee Julius David Sweiry Ni(xilas Benardout Caroline c1 Ruth Finkel GilaGcxJsi CeAlnc Littsnan Sophie WIesfeld (Presidt) (Vice President) (Honornry Srfret8ry) (appoint1 on 17 Dnber 2023) Life Pre¥ident By rewlutiw unaninY)usty pass1 * the AGM QTI 18 De¢anber 2016. LDn Sassoon was atpointed Honorary Ljfe Pt¢s"Jden¢ of th¢ cgres80n in rffognilion of the [dinary wvices that he has retidwed to the conwation over many years The rtrolution did not require an nendment to the All01 did not give or tske away fmm Leon S&won any rights or obligations asamember ofthe cOngregl)n. Holding NomI•e The Holdin8 Nominees of the Syna808ue are Leon BeEwdoui Sebastian SalarnA Yve5 Shama and Virtor Sw•ry. dependent Ex4miTh Horn)d FCC& Isi FIr, Hedthad Hou4 Morlborough Hill, Harrow. FL41 IUD. Bllkff8 Metro Bank plo Monomark Hou¥ 27 Old Gloucest Stre¢ WCIB SHA Cambtid8e & Countie8 Bank Lirnit Charnwo(xI Couffj 5B Wdk, Leieester. LEI 6TE Sh8wlxook Wwley .1[ BusinetsPark, TheDriv< (keatwadey. BrmThvothl Ew CM13 3BE Virwn Money. 30 St Vin(Ynt Place. Glasgow. Gl 2HL Re rt ofthe e¢tIVe Cornmittee for the r ¢ttded 30 Jutte 2024 The Ex1Ve Committ& preset]ts its report Ong with the fincial statement8 of the Syn8808ue for theyear end 30 June 2024. The financial statements have been prepar in accord with the ac(y)unttng polietw sd on pages 10 th I l MPlY 1th the ded of trust. the Ch8ritie5 knt 2011 wd the Stement of Recommwdgj Pr&%ic¢ appIlLte to dLaTiti&g prepatm¥ their &tounts in accordance vAth the Fin¢[al Reportsng Standard for SmalletEntitios.
nish and Portu Hollaod Park Wll 4RB- Chari Number: 248945 rt ofthe EXtIve Commitlee for th¢ r ellded 30June 21r24 con¢hb¥ed Strllcture Governsnce And Mxnagement The Synago8ue is governed by the Ascamo( as revisal and appro1 at the Anrnwl General Meeting held on 17 D&ernber 2023, i5 registered by the Clwity CLKnmisgion urtder twmlxr 248945. The Synagogue is administersj by it5 Ex]Ve Committ which in accordance with th¢ Aseamoi, ¢onsists of p tts I I membets. The Honorary Okyicus of the Exexutiv¢ Cotnrnitte4 who are electal immediately followin8 the Antwal Genernl Meeting, manage the day-to-day MIniStration of th¢ Syn8808ue, with the assistance of 2 pwt time pv4id employets and ihe w time lStanCe of the HonoTrry A¢countatrt. The Executive Committee m¢e¢$ monthty. Appointment And Remova] of Members of the EAe£utlve cOmlttee The membeTS of the Executive Committee are elect1 on an annual ba81$ by the membership at the Annual Gtheral Meetsns. If less than I I members put themselves forward for eledion the ExUtiVe Committee can CO- opt additional members rf they see fiL up to the ma¥imum of I l. Outsid¢ of th¢ Annual General Meetin EXtive Commltteg mqnbws cannot be raftov, other than by an Extrdordinary General Meeting. Obje£tlvÈs Aetlvlties The Synagogue's membuship consists of a congregation obs¢Tvinb the Jewish religion. Its objtive is to provide nd maintain a place for the purpose of public WOTthip and Promote religiou4 edU¢tional &)d charitable tivitie& The members of the Executive Committee have read th¢ Charity C0MISsIon 8uidanee on public benefit and plannin8 our 'vItieS for the year at our Ex¢¢utiv¢ Committee Meing8 ihis guidance was wefulty ¢onsJdered. Fianci•l Review The financial positson of the Syna808U¢ &8 at 30 jIe 2024 Ès set out in the Balance She& on pa8e 8 and the financial results for the yew are set out on in the Statement of Financtal Actiwti¢s on peS 6 and 7. The deficit on Unrestrictttl Funds before takins into aocourjt the movement in the market vajue of investmen15 for the yeor was £55,298 (year end1 30 June 2023- deficit of £45,055). After t&Èn8 account of the movement in th¢ market Value of investment& there was a deficit of £56.284 (year endd 30 June 2023 - deficit of £49.364). Our costs have increased CODwderably over the last year due to the general increase in overall cost4 our drive to increase membership and the increase in activity around the Synagogue. Our costs continue to Incre but a Close eye ts kept on everyday expen sudj ga8 and eltrIC charge4 to ensu that the Synagogue is receiving the best PQ55ible fee5. The Exeeutive Committee works lirelessly in eontrollin8 our on80in8 costs for kiddushim and general tnainl¢n4n¢¢ of the builditLS. The renovation of the hou8¢ wa8 far more expensive than we expected due to the poor wo5kman5hip of previous repairs which caused I¢&ed (xists. The security of the Synagogue remains a major exp¢n5¢. and which the Executive Committet is not prepared lo compn)mis¢ on. Th¢ ¢ombinion of the reserves held and the Continu gen¢rosity and 5UPPOrt of our members as r¢gard5 do[tionS and settling Finta is very welcome. yet w¢ find due to th¢ increasing costs in the above ate4 we are in deficit for the last financial year. Th¢ rrent financial yeat sees a heavy Maint8 prosranlln< so that addÉtionai donations would be appreciatd. The EXetiVe Comtnittee would like to thank all members who have generously donated to the house renovatton 8J)d on8OU)8 n]ntere of th¢ Syna808ue. As rn¢ntioneAI in wevious Yea the Syna808ue buildin8, the Rabbi'5 house arld the attached hails continue to age. The SynaJJo8ue roof r¢quir& major renovation we are looking at raising filnds to get li back in a pro state of repair. It anticipated that the maintenance and ttion to th¢ buildings will b¢ an ongoing pro(tss for Ihe foreseeable future. RL8eryes Policy The BUtive Committee's poli¢y is to Set the Finta at a levei sufficient to meet bud8aed expenditure (tskin8 iftto ¢0[LI proj¢t¢d donatTrons). Totsi r¢serves as at 30 June 21r24 atnountrd to £687,143, of which £212.124 relate to restri¢ta funds (30 Jun¢ 2023 - total reserves of £876,931 of w.Ch £145.629 related tr) regtri¢ted runds).
ish Port Ho1[ad Park Londo Wll 4RB- NumbEr: 248945 rt of the EXetfveC•1tiee thr the ear eDded 30June 21124 continued Achievement Perforrn#nee Review of activities can be Measur in a number of ways but the two k¢y perforllwice 1¢orS ('KPIs') the synagOu¢ Is workj.ng towards is {1) metnbership growth and {2) buddin8 a 5UStwnable (fJnan¢tally stable) tUre operating model. ManbeTship numbers have rlu(d slightly mainly as a result of a number of members who have p&%sed away over the last fiTwicial year. The Synago8u4 through its Development Officer. continues to develop a new long t¢mJ membership strate8y to encourase gro in new. young mombets. Support to th¢ community attd in p#rti¢ular the vulnerable rem8in$ a bi8 ¢onc¢m and the Synagogue developed a Community Welfare Committe¢ to reach out to rnembers to ched( they were Support and also to see if th¢y anything. The fdba¢k received w85 positive and for some it w&s the fir time somo)n¢ had been in coThtaet for wme time. The weekly kiddUs"M support the community and assjst with those who e more vulnerabl& Risk Management The Executive Committee has examined the mwor operational and financial risks lo which the Synagogue is eXSed and is $atIsfi that systems gre in place to mitigate such risks. Investment Polity The Executive Committee conlinEE&S to exercise its powers to invest when appropriate. The Synagogue hag always h¢ld funds for a continuous pen[ of a Tes¢rve for the wntinud maintenance of the Synagogue premsses and any emergencie5 that may arise. The inveStmt it) three Absolute Return Funds and the wutty investmeTtts held as part of th¢ Syna808ue's shse of the London Sephardi Trust were he]d for the long terni wth the aim of swurin8 a reasonable level of growth without incurring an unacceptable level of risk. The investments in the three Absolute Return Funds were disposed of duringthe year in order to provide additional liquidity lor the platmed building works. In additi1> the Exeeutive Committee invests any exeess ndS within sevenl intere5t-bearing deposit OUnt& Such de#its provide on8oin8 ineom¢ security and liquidity. It remains diffjcult to find COuntS that are both open to ¢horilie$ also provid¢ a rate of inierest that provid&s & rtominal benefi¢ altho&b recent increases to UK base rate5 resulted in ihe level of swch in¢ome InorlDg. Publi¢ Benefit St¢emeAt Th¢ Syna8ogu¢ ben¢ftts th¢ indtvtduai members of th¢ Consregation together with the wider Sephardi Community and th¢ is interaction b¢tw¢th the staiutory se¢ior and the volutttw and eommunity seeior in the UK. The activities continue to be tharitable and ail fall within th¢ areas of educioTh aud welfare. The Exeojtive Committee hos considued this matter and have 8iveD due consideration to the Chan"ty Comrnission's publith¢d guidance on the Public Benefit requiranent under the Charities Act 201 land hence ¢on¢lud¢d that.. the aims of the eharities Continue kn be ¢harttable. the aims and the work done give identifiabl¢ bryjefits to the ¢harttsble sxtor and both indirtlY and directly to indivduajs in need. the bencfits afe for the public and are tt Unreas0tlY restricted in any way and certainly not by ability to there 1$ no detriment or ham) ari$it)g from the aims or a¢tivities. The ObJts of th¢ Syna808u¢ are for the public b¢nefit to support sud] work of the CoTwegation &% shall be exclusively charitsble under the laws of Engld 8nd Wa1¢5 from tirne to time &% the Executive Committee th211 think fit. Without prejudice to the 8enera]ity of the for¢goin& such ¢x¢lusively charitable work includ48 the advanmnent of the orthi)dox Jewish religion a8 practised by the Spanish & Portuguese Jewish eommuntty and the adVancent of ¢ducion of the ortho(bx Jewish religi¢)n and of the history, ¢ulture t]xdition$ of th¢ Sparti & Portugue5eJewish community.
ish #Dd Portu Holland Park LoAdon Wll 4RB- Cknri NumbEr: 248945 oCtheExecutiveCommittee for the ear elldwJ30June 2ffA4 contillued Plans for Fv¢ure Periods A$ we move forward there wtll no doubt continue to be cl[]8¢9. but w¢ will continue to opetate the Syna8ogue in a way which puts Lts members the forefronL ensurirJ8 they are fully supw)rtal iK)th pastorally al socialty. The dn.ve to recruit new manbers along with the support of a new Rabbi has resulted in the Syn88ogue movin8 forward with purpo to ensure we build a financialty secure future. volnIeeYs The Syna8ogue continues to be reliant on voluntetrs and wmmittees working iti collaboration with the Adfflinistrator. MembeT5 of ihe comrnunity are appoinfrd by th¢ Ex¢cutiv¢ Comtnittee or votd by the Kahal i)rrto a genes of sub committees. They contribute by oYir8eein8 key areas suth 83 financ4 property. sitting on local synagogue oommittees overseeing services and I( eva)ts as well &8 those volunteers who sit on the Hebra &)d the Board of Deputies. Governace Code The Ex¢wtive Committee hav¢ nsider the Charity Comtnission's Gover[1¢¢ C(Ml¢ which w&8 updthj in March 2021 and will look to ¢any out an &ssessment of compliance aga1tt the Code's seven principles in the coming year. In Itne with the Charity Cotnmission's Governance Code we have developed a Fin8nce PoliLy. which will be updated regularly. Polieie5 Adopted for th¢ Inductioll Tr4iTring of TnistefJ New membws of the ExtiVe Committee are fumisha with rt mit]utes of Idevant meainss weil as an induction session with the President. All meMbS of the Executive Committee we DBS checked and undergo GDPR Safeguarding (including yowi8 people and vulnerable &lults). The Exwjtive Committee reco8lliS¢S that the responsibiliti¢5 of a Trustee are consid¢Yable. Trainin8 S¢S5È0ns will be Tan8 as the a5¢4 Representatives of the Executive Committee will also attend annual TSlee trainin8 80ing forward. Ststsment of Executive Committee RespM5ibilitia appli¢gbl¢ to charities in Eng]and and Wales r¢qui1¢5 th¢ Extive CoEnrnittee to pr¢pat¢ finan¢io1 ststements for eath frnart¢ial year. which give a true and fair vi¢w of the Synasosue's financial tivItie% durit]8 the Y and ofits financial position at the end of the year. In prepann8 finanaal statements givins a Iru¢ and fatr view the Executive cOmltte¢ should follow be& p(1¢¢ and.. select suitable accounting policie5 and then appty ihem ¢on&sttly. judsements e5times that ate re&wna)le and pwdrt" S¢ whdhei applscable cOUnting standards and statrynents of IKomm¢nded wacti¢¢ have been follow subject to any departure5 di%losed and explained in the financial sEatem¢nts' And prepare the financial staternents on the goin8 CA)ncun basis unless it is inappropriate to presume that the Syna808ue will contsnue in opwation. The Executive Committe£ is responsible for keepin8 CountIng records which disclose with reasonable accuracy the financi position of the Synagogue and which en7kn1e itto a)sure that the financiai statements comply with the applicable law. It is also responsible ftir sdeguardins the assds of the Synagogue and ha)ce for taking r&wftable steps for theprevention and detection of fraud ald other irre[arItIC$. Ad(nowledgements The ExecutiveComfflitte¢ wi$hes to place on word its immen$e appreciation hnd consider8bl¢ indebtedness to ils Honor Aca)untant, Anthony Levy, for hiy devotion And commitment in the continuou# m8n2gement. control and supervision of the Syna808ue's tonts. In addition. multiple thanks are al due to our Administrator. Lorna Pere4 for her &iSta0¢e with the administrAtion and fLnanci81 matters in the offic¢ on a day to day bL8is, in¢ludJ'n8 the smooth mnnin8 ynd minIStr&i0n of the Shulcloud management system. LAURENCE JULIUS Hof40RARY TREASURER Ov beblf ofthe Exttutive Committee 8 Novanber 2024
ntylk Por ejes È Holland Park IndOn Wll 4RB- Chari Number: 248945 IDde deDt ELqminer's re rt to the Exetutive Committee of the S ni5h #od Port e5eS I r¢port ots the financia] statement5 of th¢ Synagogue for the y¢ar ded JO Jsjne 2024. whRch are set out on P8ge$ 6 to 16. Rejpective reJpoD$ibilities of the Exeeutive Commlttse and the Independent Ex4miner The Synasogu¢'s Ex&utive Committee are responsible for the preparation of the fin8noiai Statemen The Synagogue's Executive Cornmitttt consider ihat an audit is not required for this year (undff 5ecÈion 144(2} of the Charits'es Act 2011 (the 2011 Act)) and that PJ) independent examination is Jt is my resp)nsibility to.. examine the financial stat¢m¢nt5 (under $tion 145 of the 2011 Act). to follow the proeedures laid down in the Genera] Directions given by the Ch8rity ComTnissionws (under seLion 145(5Mb) of the 2011 Aet)" and to date whether particular matt¢rs have come to my atiffllion. Basis of Indepepden¢ #[]er,5 Report My examina¢ion w&$ camed out in rd)ce with the Ger81 D]rtIOnS given by the Charity Commissioner& An ¢xamination includes a review of the aecounting records kept by the charity and a eomparison of the finala] statements presented with those rOrdS. It $0 includes a>nsideration of any unusual items or discloswe5 in the fLAClai stateml and the sttking of expl8matlODS from you &8 trustee8 concerning any sh matters. The procedtsres undertaken do not provtde a]1 the ¢vid¢n¢e that would be r¢quired in an audit and, consequently no opinion is given u to whether the finelai giatements pre1 'tnK and foir view, and the report is limited to those matter5 out in the tement below. IDdep¢lldellt aMIDer,s StatemeAt In wnn¢dion with my examinatiofy no ttmtter come to my attention.. (i) WhiL giv me re4sonable cause to believe thai in w material rwecl the requironemts.. to keep accountin8 rordS in ac£ordaJJce wtth wtton 130 of the 2011 ACL and to prepaTe finan¢ial st*eMlS which xcord with the aOuntIng rOrdS and to ¢omply with the ae£ountsn8 requiranents of the 2011 Act hav¢ not been met. or To which. in my opinion, attention should be drawn iti Ord to enable a prop¢r understandins of the financial statements to be reached. (2) Nam¢ of principa].. Name of firni.. J¥emy Harrod FL ¢ fv- Grant HarriNJ Laman Dayis LLP- Chartered Acc4)untant8 Relevmt professional qualification or kndy.. Mdr&88.' FCCA 1st Floor. H¢althaid House Mar]boTough Hill Harrow, HAI IUD 8 Novonber 2024
ish #nd P lldoD WI14RB- ri 94S ststeThent fFi ivi 211 Totai FUtS U]westrieted Restricted 2024 Fund5 Funds Totsl Fund5 2023 UnFestii¢ted Re5tri¢ted Funds Funds Jneoming resoiir¢es Notes Donations Fintas receiVae I0VertIC U[er aid 71488 287,264 359.752 104,454 104.454 26.685 31.191 571 1153 2,062 2,062 65,122 65.122 271,382 293,352 564,734 57,790 99.431 29.393 2,990 79,555 137,345 99.431 36.260 3,931 4.506 1.582 6.867 Social fiMKtions Suudry income 58,J93 247,997 3.283 61.676 90,646 338,643 Resovrces expended: Direet Ch7t S8laTtes & expemes of officials ildren's &lucation "ddu5him I CatpAin8 Ground rent Council tax aAd water rates Li8ht and heat Insursttce Repairs Laundry and cleaning Serity Te]ephone & broadband Pritttiti& postage & statiot Motor and travellins expenses Le8al T profession fees Books Suttdry ¢xpfflye5 109.313 I029 111,342 4.935 4.935 29,358 33.439 68 68 2,927 2,927 13,492 13.492 12.393 12.393 8.128 417.413 425.541 11,533 11,533 32.634 33.243 1.537 .537 435 435 1.382 1,382 4,374 4.374 5,458 5.558 8.826 9,423 105,061 2.116 22.739 68 1,209 1209 14,724 14,724 14.236 14.236 14.699 113.399 128,098 170 170 22.955 509 105,061 2,116 22.739 4,08l 609 22.955 509 399 425 5,813 l.fAJ6 12.194 425 3,313 1.546 10.809 2,5C 597 1,385 246,793 424,829 671.622 214,978 117,344 332,322 Costs of t and administrati Salaries & expenses of officials Light and heat Telephone & bro8dbaTKi Printin& postage & stationery Bank char8es Independent Examin&s fees Sundry ¢xpeTr 64,365 1.499 1.537 1,306 1.377 1.920 7.883 2,028 6A393 1,499 1.537 iJ( 1,377 1.920 7.883 63.488 1.636 509 1,196 1,539 1,560 8,146 78.074 63.488 1,636 509 1.196 1,539 1.560 8,l46 79.887 2.028 81.913 78.074 Totsl r¢sources expended 326,680 426,857 753,537 293,052 117,344 410,396 1weomi8 ye50r¢¢9 lesj rejourcu e5peDded
bl li Statenut of Fin8ocial Activities Total Funds Unrestricted Restricted 2024 Funds Funds Total Funds 2023 Unrestticted Restrirted Funds Funds Not4s Incoming resoUt lesj expended (55.298) (133,505) {188,803) (4S.055) (26.698) (71.753> Change in rnaTket value of inVestmts (986) (986) (4,309) (4.309) Net Surylu(defiClt} for the yer (56.284) {133,505) (189,789) (49.364) 126.6981 (76,1)62) Transfer Ftw¢en fimd8 (200.(x)0) 200,OCN) (100.000) I(KJ,IM)O (2$6,284) 66,495 1 I S9.7gC)) {141) 364} 73.302 176.062) Totsl FllDds It l Juty 2023 731,303 14S.629 876.932 880.667 72,327 952,994 Tothl FuTrdg 4¢ 30 Jwie 2024 475.019 212.124 687,143 731.303 145.629 876,932
nW114RB- She at 30 June 2024 Notes 2024 2023 Fixed A$xets: Ltaseknld properties Investments 681343 50,592 517,618 51,578 732.935 569.196 C¥Trut Awets: locom¢ tyx 0Verable Sundry debtors and prepayments Cpsh at bank and in haud 9,687 8,789 114.006 132,482 13.876 6.277 374,354 394,507 Lillbffilttlu tallin¥ dlle wlthin one year: FiDtas received iti adva¢¢ Sundry creditors and xcnMis 34.578 143.696 178,274 24,830 49,441 74,271 Net (45,792) 320.236 Total *ysets kns CUTrettl liabilities 687.143 889.432 Li8bilities faUiDg due after more tha one yeHr. 12.500 Tot81 a58et8 eurrent liabilities 687,143 876,932 Rweaeftted by. UDr¢s¢rithd Gry Accumulated Fund 47S,019 731,303 Resti7cted f¥nds Building CorttiogeD¢y Fund Or Torah Ch&dash Fund JIA Edu10 Fund Jack Poyastro Matrimotty FutMI Esther & Joseph Sidlin Memorial Fund Auntie Lena Menjorial Fund Nahrtd Memorial Fund 31,726 28,016 17.828 14.932 1.582 2,158 115.882 82,369 27.333 17,393 14.568 1,641 2,325 211124 145,629 Tot#1 Futtd$ 10 687,143 876.932 Approv by the Executive Cojtimittee ort 8 November 2024 and siwj on its behalf by.. LaureCe Juliu Hon Tnasutv
ish d Port WII 4RB- Cb¥Jrit Num 945 Statem f Cash Fl f r the Year Ended 30 June 2024 2024 2023 Nr)tes Casb flows frnm oper#¢ing activi¢ieJ: C&4h senevdted from operations IC)0.9791 Net cath provided by operating actitieS 197.2131 160,97gi Casb from iTrvestItti 4etfvltle8 Fixd asset capita]ised Sale of fixed asset investments (16A,724) 85,427 2.434 1.589 Net cash (US inYr¢IV¢d from inv&stin8 activitie$ 87.861 il Casb and cash e4¥ivait#ts in the reportlog perknl {260,348} 26.882 Md e4sh equlvalents a¢ the IKginDiDg of th¢ reportln8 peri(Ml 374.JS4 347,472 Cwb e#$k ¢4vivaltnts at the be8illniDg of the Yeportijg period 114.006 374,354 Notes to tbe Ststernent of Cajb Fl•ws for the Year Ended 30 JvAe 21124 tin re50urct5 to ne¢ ¢ activithj 2024 2023 lticotrrin8 r&wurces le resour¢e5 ¢XP¢Dded las per th¢ statllent of Finan¢ia] Adiviti¢s) {188.803) (71,753) Adjwtments for: Ttelest receivable {2.8n6) 137 13,443 1.142 91.503 lllcrease in creditor5 2. Anal isof¢h net flllldj At l July 2023 At 30 June 2024 Cash flow Net cash Cash at bank Cash in hand 372,665 (258.659) 114.006 1,689 I l.b8C)I Totsi 374.354 1'(IC) 148! 114,(K)6
llisk and P rtm e HollADd Park IA)Ddon Wll 4RB- Charli Number. 248945 Notes to the Statenbents for the Year End 30 June 2024 Ltin Polici¢J B45is of prerIng the finAtttiAi itAtemeAts The financial stameDts of the charity, which i$ 4 publi¢ benefit lIty under FRS 102, have been piq)ared in a¢eordane¢ with the Charities SORP (FRS 102) 'Accowitin8 and Reporttns by Charities." Ststernent of Recommendd Practice 4Jplicable to charitkes pwaTins their a¢untS in acwrdaTLce with the FiEwici21 Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019)., Flnancial Reportin8 Standard 102'The Financial Rq)ortin8 Standd appli<abl¢ in the UK and Republic of IrelAnd' and the Charities Aet 2011. The fitl¢la1 statements have been prepored Lmder the historical cost eonvention unless otherwise stated in the relevant accountin8 policy note. The fin8n¢io1 stgtements are presenteAI in SteAing (£) and rureS are thown to the ne8rest whole pound. A separale Inme and Expenditure Account not been prepared as all of the relevanl iThfornwtion is included in the Statement of Financial Activitie& Ineomill8 rewurce8 Finta ts included on the basis of amounts due for the ¢urrer¢t year after mth"n8 allowan for any amounts that are unlikely to be Collted. Whffe any life memberships have been rec¢ivd th¢se haye been included within liabilities undw 'Finta Te1Ved in advance, with anounts released to income ei y¢ar in lin¢ with ¢ent Finta rates. [1e tEcoverable ha5 bern includd to the exte that it arises on gift aid donations. Within inv&%tment incom¢ interest is 0nted for on an basis and dividend income iy accounted forwhen received. Donations MpriSe amounts rcIVed durin8 the year. 1£8acie5 ar¢ cr'ted in th¢ yew in vthich thty are e1vable. Gr#ttts Grants are r08ls as iTrcom¢ when the entstl¢m•t to ¢he grant is certain. Grants made towwds the costs of specific aLxiviÉies and servi5 are classified as restrict incom£ Where s¢ryic¢5 ar¢ not fvlly ddiveted in the puiod the restriLxed income was retrivj. the bal8n¢e of the grant is hdd in restricted fijnds. Grant5 towuds the cost of aU]ring assets are Classifi as restrided income when received. A tiansfer is th¢n ttde from restricted funds to unrestrictd funds to refiect the purchase of capitaj items. Grants that pVIde eore fidIng or a 8&)erai eontribution to the Charity are included Und sutmjry incom¢ wiihhn unrestrirt fund& Expenditure Li8bilities ¥e reco8tti&%l &9 expenditure &$ soon &$ there is a legal or constnJetive obligation committing the charity to that Éxpenditur4 it is probable that a trknsfer of economic benefits will be r4uired in settlement and the amount of the obligation CAn be me&surl reliably. Expenditure LS Ae¢OUttted for on on accru8]s basis has beert classified UEMler headift85 that 888regate Bll eost related to the eate80ry. Where co*$ cannot be directly attribuied tts partieular he184 they have been alloeated to activities on a basis consistt with the use of r¢sOUTrXS. 10
ish P(tyrtu uese S e Holland Park London Wll 4RB- ri Nrnber. 248945 L¥4otes to the Fi##neial Statemettts for the Ye4r Ended 30 June 2024 eontinu Aceoutttln Pdicies ¢ontitiued Pensloll costs other post-retirement benefits The Synagogue makes contributions to a defined contributton pension scheme. contrionS payable are chwged io the Statmrnt of Financial Aelivities in theperiod to Hthich they rel. Leasing coJnmit•nt$ Rentals receiv&ble or payable uThJu oper8tin8 le&8es are crdited io in¢ome or ebar8ed to &¥penses on straight-line bA%is ovtt the le&8e terni. Fund aceountlng RestricÉd funds are only used for the sp&ific purpose laid do by the donor. Expenditure that meets these Criteria is ¢hargeAi io the relevant fund. For restrict funds set up for the specific purpose of aequsrin8 fixed assets, once the assets have been aequired, the fund will be transferred to urjrestricted funds providin8 that the acquiTd assets forni part of the 8ener81 fabn'cof the Synago8ue. Furthu explanation of the nature and purpose of each fund is indudd in th¢ notes to the fit)ancial statements. Unrestrided funds are the residue of ineoming Tesour¢es re£¢ivable without further specified PUTPOSCS and are available &% general fLmds. Tattgibl¢ fued ssets Leasthold properties are stated at ¢ost and no depreciation is charsed due to the large number of remaining Yea left on the le. Any expenditure incurred on the upkeep of the propertio8 is not capitatis&l but is instead charged direc4ly against the appropriate fund. Assets wuird or donated at a or valuatson below £2.000 are not p]lised in the year. Jovestmettts Inveslments held as fixed assets are Stat at maAret value. Ta110 The Syn8808ue is exempt from corporation tax on its charitable tivitie& Donatlo Kid iiJhim and PrA r Botsks Donations include amounts received from congrwms and others to cover the LxFsts of S¢pher rq)atrs, Kiddushim and prayer book& dertt Exomlntlo Included within Costs of mAfta8ement and MinIstr*i0 is £l.W20 (2023.. £1,560) in resW of independent examination fees.
nish and Portu eJeS Holl nd PAr LoThdoD WII 4RB- Number. 248945 2024 2023 Interest recavable on cash (kposit5 Income from listed investments 1,055 1,098 2.806 1.125 2.153 3.931 S. Suttd Ineome 2024 2023 Nursery rent Seiurity grants Ott incorne 53.587 11.223 312 49.461 6.532 5.683 65,122 61,676 Em io ment Costs 2024 2023 IAcluded within Salaries & penSeS of offi¢ials are the followtng.. WagN and ylarie5 So¢ig] wurity costs PeD5ion contrbliOnS 138,885 6,032 2,2S4 147.970 4,780 1,120 147,171 153.870 No employee earned mor¢ than £60,( per annum (2023.. 1 employee earnrA b¢tw¢•] £60,OCQ and £70,(K)O durin8 the members 0£ the Executive Commiitee do not receive remuneratiort for their seThJices and no ¢xpenses dwin8 the y¢w. The average number of time employtts durin8 the year was S (2023.. 4). hold Pro 2024 2023 At w#. 904 years uJwir&J s808U¢ afyj Communal Hall Semoff Hall Suzart Dellal H1 S Si James'5 Gardens 9.932 5.885 485.891 180.635 682.343 9,932 5,885 485.891 15.910 517.618 In the opinion of the Executive Committe¢ th¢ market valu¢ of the loll8 lea&ehold properties are si8wificAlltly 8reater than the hi#oricai c4YJt values shown above. ]nvts(ments 2024 2W23 London Sephardi Trust 50.592 50.592 51,578 51.578 12
S rtljh Port¥ uese S ¢ Holl#nd P*r Wll 4RB- Chari Number. 248945 Noles lo the FinaDcA&I StsteENents lor the Ye8r Ended 30 JllDe 2024 & knvegtments contlDued ld0 Seph8rdi Tnu¢ The London Sephardi Tnt is the wstodiarh tnjstee for the pool investments of a number of constiMent chariti&%. in¢ludillg the Sassoon David TnLst Ifonrrfily the Holland Park Syna808u¢ Fund} a fund establis1d for the Iefft of ihe SY9808ue. The Synagogue's slwe of the inGome of the It in the year ended 30 June 2024 arnouni to £1,098 (2023. £1.125). The market value of the Sas500n Dawid Trnst investments (au ofwhich ore Idd in the UK) at the dale of the most recerrt Valuation, 31 October 2023. amounteAI 10 £50,592 compor¢d with the cost of £4.861. 9. Liibilities follin due whhln oDe This balance includes the irtttthl dei)osit (plus acuued interest since receipt) reiVed from Keren'5 Nursery under the temis of the tea5¢ agreement between Ke¥en's Nw5ery al the Syna8ogue. This amount is repayable no earber than the break date conthitled within the lease of l June 2022 ¢4n be us¢d by ihe SyaJag¢)gu¢ to meet any default by Kwen's Nursay as 8Flfied vAthin the lettse. AMI yi8 of net assets betw Tan8ible FLxed Assets Current Current Asset$ Li4biliiies Total Restricted funds Bu¢lding ContIngKY Fund Or Torah Chadash Fund JIA Education Fund Jack Poyastro MAttimony Fund Esther & Joseph Sidlin Memorial Fund Aunti¢ Lena Memoria] Fund Fata Nahmad Memorial Fu] 31,726 28,016 17,828 14,932 1.582 2,158 115.882 31.726 28.016 17.828 14.932 1,582 2,158 115.882 Totsl restricted 212.124 212,124 lJnre5tricted fund$ CyeneEal Ac£umtslated FutMI 732,935 {?0 64?) <17P 974) 475,019 Totyl 732,935 132.482 111 8. J41 687,143 13
4nd Portu ue HoU#ftd Par Wll 4RB- Chr 248945 Y r Ended 30 June 2024 conti 10. Change in Market Transfer At l July Incoming Outgoin8 Value of Betwttn At 30 June 2023 Resoutus Resourc4s Envestmetrts FutK15 224 Movement in funds for Rttritted f$ Building Contill8ency Fund Or Torab ChadastLFund JtA Education Fund Jack Poy&8tro Matrimony Fund Esther & Joseph Sidlin memori Fund Auntie Lena Memorial Fund Ezra Nahmad Memorial Fund 81369 166.771 1417,4111 27,333 683 17,393 435 14,568 364 1,641 41 2,325 58 125,(M)O 200.O¢X) 31.726 28,016 17.828 14,9J2 1.582 2.158 115.882 (1001 (225) (9.118) Tot restricted thnds Uthrestiieted funds G•)eral Accumulated Fund 145.629 293,352 14fj1,.8", 1 200.000 212.124 731,303 271,382 1)?,.) (,8111 198f)I l?Illl nooi 475.019 Total Fumda 876.932 $64,734 {75_) 687,143 Change in Market Trat)sfer At l Juty Incomin8 Outgoing Vu¢ of Between At 30 June 2022 Resources Resx)urcts Imvestments Fund$ 2023 eme Rtttrieted funds Bui]din¥ Contingency Fund Or Torah Clwdash Fund JIA Education Fund Jack Poyastro Matrimony Fund Esther & Joseph Sidlin Memorial Fund Auntie Lena Manorial Fund 9,563 26,929 17.136 14.599 1,676 2,424 89,705 1116,¥LJ(JI 404 257 219 25 36 100,1 82,369 27,333 17.393 14,568 1.641 1325 (2501 {60) Toial rericted thnd5 Unrestrieied fund8 Cn¢Tal Awiinulated FuThl 72.327 90,646 [11-, 100.O(K) 145,629 880.fkn7 247,997 1293.052) (4.309) 1100.0001 731,303 Totsl Fwids 952,994 338.644 1 Illl IC)() 876.932 eumula ItKludgJ within this fiuKI ar¢ the following funds." The Juli Cobert Fknr*l Fvnd This fund was Created by ihe family of the late Julia Coben to provÈde florHI gift5 for those in hospital or ill at hotDe and to decorate ihe Synagogue on fe5tiva]s atKi spe¢ial ¢V¢Dts. The Emity & Elatm Salern Memvri41 FThd Tbis fi]nd was provided by Rose & A]bert Salem to cotitribute to the c4)st of erting the SUah and Kiddustiim throughout Succot. 14
Aish and Por Hollalld hrk Wll 4RB- Thrit Niimber: 248945 Notes ¢0 tbe FiDart¢ixl Ststements for the Year F•ded 30 June 2024 continued 11. Funds cotlled b) Buildi Con¢ill ert This fund w&8 set up to meet the Proper upke4> of the propety And therefore the cost of repairs and mntenance of the Synagogue premises is set dIrdY 888inst thts fund. The Building Contingency Fund includes the remaining balances held in the Syna808ue Restoration & Regeneration Fund and the Johrt M cohe Julia Cohen and Esthff Sassoon Memorial Fund These funds wer¢ transf¢rr¢d to the Building Contin8thcy Furtd as the fvnds w¢re used forthe same pufp05e. The Syna808ue Restoration & Regeneration Fund wa5 se¢ up to me¢t the increa8Tng need for capital project4 Such as renovation and refurbishment and to expondin8 the facilities offered by the Synaso8ue Amongst others ihis fund indudoj the Rose & Albert Satem R¢5torion Fund. The John M Coher4 Julia Cohen and Eh¢r Sassoon Memorial Fund was a fund set up sp]fICallY for th¢ mairytenaDce of th¢ building. e) Or Ttsrnh Chdttsh Fund Th¢ fund Includes th¢ followittg priz£ Sjnds.. Ann¢ & Josq)h Cohffl Fund Bdty Benard(>ut Memoriai Prize Fund Calaora PEiZ¢ Fulld Danid Nahutn M¢mori31 Priz¢ Fund Ena (Ruth) Benezra ManoTiai Fund Isaac Farasi MeJnorial Fund Jk & Marie Cohen Memorial Fw J D Cohen Munorial Prize Fuftd Jules Ben-Nathan Memorial Fund Leah Coh¢n Memorial Prize Fund Ltllian Aelion Memorial Pn'ze Fund Minnie (Ruth) Benardout Prize Fund Mordhal Nahman GTaduion Awdrd Shlomo, Rathel & Miriam (Jamileh) Dwek Memorial Prize Fund Victor Ben-Nathan Memorial Fund Victoria (kloff mOal Priz¢ FuThd The Fund al in¢lud¢s the followtng fund.. The Grace Ellen Nabum Memori¥l Fund A donation from Ros¢ & Albert Salem provldirtg A sTnall monetthy gift for Ch child at the Or Torah Chadth ¢1&5ses at Chanukah. This fund w4s set up horn dtsna¢ion$ [e1ved through the JIA from congre8aTktS to applied for edu¢ionai purp03¢5. ¢) J d£Po stro Matrlmon Fund Thi5 fund provides mlest cth p8yments for our Menths who are about ts be mWTi¢d in th¢ Synagogue. D Estber & Jose h sid11 Memorial This furtd was set up in ordu to acquire bo(*s for Bar Milzvah alld Bat Chayil childra). This fun(L donated by Suzonne and Maurice Saragoussi, was set up in order to acquire 8ifts for Bar MitZV8h 2nd B8t Chayd Child. 15
h and Port HollAlld Park IA)odon Wll 4RB- Than Nurnber." 248945 Notej to the FiTh&n¢ial StAtements for the Yegr Ended 30 June 2024 CO11ed 11. FUd5 ¢onliuued L) The Ezra Nahmad Memorial Fund Th¢ Ezra Nahm&l Memorial Fund is deded to ¢nhgn¢ing Synagogue attendce by supporting deY¢lopment and Alu¢*ional initiative4 with a special focus on enBa8ing youth. The fvnd i$ used to foster a vibrant COTnmunity throu8h inGieased activities and involvemenL parti¢ulaTly among youn8tt ma))bers. 16