Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F Ydlli5h and Portu ueses Y4 0 U Holland Par London Wll 4RB- Chari Number: 248945 RefereDce and Administrativ¢ IDforniatioD Chaiity Number: 248945 PriDcipAI Office: 8 St James's Gardens, Holland ParL LoThdo Wl14RB Executlve Commlttee: Naomi Green IAura Behar Laurence Julius Adam Salem David Sweiry Nieolas Benathul Caroline Cassin Ruth Finkel Gila Godsi Cedric Littman Sophie Wiesenfeld IPresident) (Vice PSIdent) (Joint Honorary Trwurcr) {Joint Honorary Treasurer) (appK)intd 22 Dlr 2024) {Hollorary Secretary) Honorary Lrfe President By resolulion UDanimously passed at the AGM on 18 December 2016, Leon Sassoon was ap[m)ited Honow Life President of the cOngallon in recogtjition of th¢ ¢xtraorthw seryices that he has midered to the cOnrg80n over many years. The resolution did not rquire JJ) amendment to ihe Asjnrf and did not gi or tske away from Leon Sass(m any rights or obligalions as a member of the CongregatifflL Holding Nomineey The Holding Nominees of the S)wgogue during th¢ year were Benardout, Yves Sham4 Victor Sweiry and Sebastian salan (pass&l away on 8 January 2025). Independent Examlner J¢r¢my Harrod FCCA s Floor. KiTkland House, 11.15 P¢t¢tborough Rorf Harrow, HAI 2AX. Bankers Metro Bank plc, Monomat House, 27 Old Gloucester StreeL London. WCIB SHA Cambridge & counti Bank Limite Charnwood Court, 5B New Wail txicester, LEI 6TE ShawbriK>k Bank, Warley Hill Business Park. The Drive, rat Warl¢y, Brentwocl Essex, CM13 3BE Virgin Money. 30 St Vincent P]ace. Glasgow. Gl 2HL rt of ihe Executive Committee for the ear ended 30 June 2025 Re Th¢ Executive Committee presents tts retx)rt along with th¢ fuwAcial statements of the Synagogue for the year elltsl 30 June 2025. The financial statements have Ixen pared in accordance with thc accounlin8 policies sd out on pages 9 and 10 and comply with the deed of trust, the Chayities Act 2011 and the Statement of Recommwthl Practice applicable to charftties prepari their ac¢ounts in aC{Y)rd with the Financi Reporting Standard for Smaller Entities.
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F Dish ADd Portu uese S llA o ue Holland Par IA)ndoD WII 4RB- Chari Nuwber: 248945 Re rt of the EXtiVe Commlttee for the ar ended 30 Jwie 21)25 continued Structure Governance #Dd ManAg¢ment The Synagogue is governed by the As¢amot. as ViSed and approv at the Annual General Meeting held on 17 Dec¢mb¢r 2023, and is regiered by the Charity Comtni&sii)n under number 248945. The Synagogue is administ¢red by its Execulive Committee, which in acwthce witb the Ascamot. consists of up lo I I membm. The Honorary OITic¢t3 of the Ex¢cutiv¢ Committee, who are elected im]nediately following the Annual General Meeting. mallage the day-t041ay administration of the Synagogu¢, witb the assistance of 2 part time paid employe¢$ and th¢ part time assistance of the Honorary Accountant. The Executsve Committee m¢ets monthly. AppolntDh¢llt And Removal of Members of the Executive Commlttee The mcinbet3 of the Executive Committ¢e are electsd on an annual basis by the meMb¢1p * the AJJnua] General M¢¢ting. If l¢ss than I I ni¢mbers put themselvcs forward for election tbe Executive Conllllittee can opt additiOD41 membus if they see fit, up to the maximum of I l. Outsidc of the Annual General Meeting. Exwutive Collunittee members caDnth be removed. other thaj by an Extraordinary General Meeting. Objectives and A¢rfvities The Synagogue's m¢mkrship Consists of a congregation observing the Jewish religion. Its objective is to provide and maintain a place for the pu4)ose of public worship and proD)Ote reliEiOU4 educational and charitable activities. The members of the Executive Conunitt¢¢ have r¢ad the Charity Commission guidance on public bencfit and in plantiing our activities forthe yesr at our Executivc Committ¢¢ meetings this guidance carefully considered. Financial Review The financial position of the Synagogue as at 30 June 2025 is Set out in the Balawe Shed on pag¢ 8 and th¢ funcial rultS for th¢ year are set out on in ihe Ststem¢nt of Financial Activities on pages 6 and 7. The sUlUS on Unrestri¢t¢d Funds before taking into account ihe movement in th¢ markct value of itivestsnenis for the year was £130,606 (year ended 30 June 2024- deficit of £55.298). After tsking account of the movement in the market value of inv¢sttnents, th¢r¢ was a surplus of £133,896 (year ended 30 Jun¢ 2024- d¢f1t of £56.284). Our ws have Itseased over the last year due to general illfiationary Incr¢ as well as our drive io increase memb¢rship through an increase in activity around the s)&gOgue. We continue to ke¢p a clos¢ eye on ¢v¢ryday expens¢s. such as gas and ¢l¢dric charges, to cnsure thai th¢ Synagogue 1$ receiving the be51 possiblc fees. The Executive Committee Works tirelessly in Controlling our ongoing costs for knddushim and the general niaint¢nance of the building. The sc¢urity of th¢ Synagogue tEmains a major expense, and olle which th¢ Executive Committee is not pr•red to compromis¢ on. The combination of the r¢5¢tves hel& alld the continued gen¢msity and support of our membm as regards donations and settling Finta 1$ very welcome. Th¢ cunMt fin2ncial yr sees continuing heavy maintenan¢e costs and ever-inotasing 5¢curity costs. so tbat additior1 donations would be appffciated. The ExecutiY¢ Commitlee would like to thank all members who have g¢nerously donat1 towards the ongoing maitstenance of the Synagogue. As m¢ntioned in previous years, the Synagogue building. the Rabbi's house and the attach¢d halls continue to age. The Synagogu¢ roof requires major renovatioffj and we are looking at rdising fid8 to get it back to a proper state of Tepair. It is anticipated tlLat th¢ mainteJ)ance and attention to th¢ buildings will be an ongoing process for th¢ foreseeable future. Reserves Pollcy Th¢ Executiv¢ Commille¢'s policy is to set the FiDta at a l¢vel suffi¢ient to meet budgeted expenditure Itaking in¢0 acci)Iint projected donations). Total res¢tv¢s as at 30 June 2025 amounted to £747,067. of which £138.152 late to r¢strA¢ted funds (30 June 2024 - total reserves of £687,143, of which £212,124 lated io restricted funds).
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F onish #nd Portu llese S na Holland Par Lolldon Wll 4RB- Chari Number: 248945 rt of the ExUtive Commlttee for the ear ended 30 June 2025 continued Achievement and Perfornianee Review of activities can IK measured in a number of ways but the two key rforManCe indicators ('KPls') th¢ Synagogue is w01n8 towards is {] ) membership growth attd (2) buildins a sustainable (financially stable) fvture opeNing mi)del. Membership numbcrs have reduced slightly moinly as a result of a nwnber of members who have passed Away over the last fjnancial y¢3T. The Synagoguc. through its Development oftr1. continues to develop a long terni membership strategy to encournge growth in new, young members. SupFth to the community and in particular the vuinerable r¢maiDs a big con¢ern and th¢ Synagogu¢ develoF¢d a Community Welfarc Committee to reach out to members to check th¢y were supported and also to see if they nKded anythiug. The feedba¢k received was very positivc and for som¢ it was tbe first time SOmn¢ had been in contsct for sonJ¢ time. The weeHy kiddushim supp)rt th¢ community and assist with th08e wbo are more vulnernbl¢. Risk MaDAgement The Execlltive Committee has ¢x8mined the major operational and fioallcial risks to which the Synagogue is Cxposed alld is satisfied th81 systcms are in pla¢¢ to mitigate such risks. Inveytmellt Policy The Exccutive Committee CODtinues to ex¢wise its powus to invest when appropriate. The Synagogue has always held funds for a cominuous period of tiD]e. as a rescrvc for the continued maintenance of the Synagogue pr¢mises and any emer8encie5 th&t may arise. The itivestm¢nt in thr¢e Absolute Rctum Funds and the equity investments held as port of the Synagogue's share of th¢ London Sephardi Trust were held for the lollg term with the aim of 5e¢uring a reasonable level of growth without incurring an unacceptsble level of risk. The investments in the tbTee Absolute Return Funds were diswsed of during th¢ year in order to PTowid¢ odditional jiquidity for the planned buildiD8 works. In addition. the Executive connIt1ee xnvests aDy excess fullds within sev¢ral intr$1-beaT1g deposit 8ecountS. Such dcposits provide ongoitig income. security and liqukdity. It remains difficult to find accounts that alt both open to ¢TrJarAties atLd also provide a rnte of interest that provides a nominal benefit, ahhough r¢Trt incre&ses to UK base rat¢s resulted in thc level of such income incre&sing. Publle Beneflt Statement The Synagogue bcnefits the indivsdual members of the Congregation together with the wider Sephardi Community and there 1$ interaction betwe¢n the statOry se£lor and the Yolunlary and conmiunity sector in the UK. The a¢livities continue to k ChIlabl¢ alld all fall within the areas of edu¢8tion and welfare. The Excculive Committe¢ has considered this matter and have giv¢n due consideration to the Charity Commission's publis] guidanc¢ the Public Benefii requiremeni under the Charities Act 201 land hence concluded that: the aims of the chaTiiies continue to b¢ ¢haritabl¢. the aims and thc work done Eive identifiable benefi18 to the cbarityble sertor atLd both indirecdy and direcdy to individuals ID need. the benefits are for the public and are not unreasonably restricted in arLy way and cei1)IY not by ability to there is no detrim¢llt or harm arising froffj the aims or activities. The Obj¢cts of th¢ Synagogu¢ are for th¢ public b¢nefit to support such work of the Congregation as shall be exclusively chatitable undcr the laws of England and Walcs from time to time as ihe Execulive Committee shall think fit. Withoul prejudice to the generality of the foregoing, such ¢xclusivcly charitable Work includes the advancement of tb¢ ortbodox Jewish religion as practised by the Spanish & Portuguese Jewish ¢ommunity and the advanc¢ment of education of the ortkndox Jewish religion and of the history, culture and traditions of the Spanish & Portuguese Jewish communtty.
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F Dish xnd Port e5eS ve Hollalld Par Lolldoll Wll 4RB- Ch•ri Number: 248945 rt of the Executive Committee for the r ended JO June 21125 eontlDued Plan$ for Future Periods As we move forward there will no doum continu¢ lo b¢ c]lleng¢S, bui we will continu¢ to operale the S)TLagogue in a way which puts its members at the forefront, ensuring tbey arc filY SUp[ed both postorally and socially. The drive lo recrnit n¢w members along with the suprxyrt of a llew Rabbi has resulted in the S>TAagogu¢ moving ftjrward with purpose to ensure we build a finan¢ially SUre fvtUTe. Volunteers The Synagogu¢ continues to be re]iant on volwtt¢ers and cODltteeS working in collaboration witb tbe Athllioistrator. Members of the community are appointed by the Ex¢cutiv¢ Conllnittee or voted by the Kahal onto a serieB of sub committees. They contribute by overseeing key areas such as finance, property, sitting on local Synagogu¢ conjmittees overseeing services and Ial events as well as those volunteeTh who sit on the Hebra and the Board of D¢puties. Governance Code The Executive Committee have consid¢red the Charity CommissioD'S Governance Code which was updated in Mar¢h 2021 and will look to cany out an assessment of c4)mpliance against the Code's seven principles in the coming year. In lin¢ with the Charty Commission's Governance Code we have dev¢loFd a Finonce Policy, which will b¢ updated regularly. Polldes Adopted for the IDducdon alld TralDlng of Truslee$ New m¢mbers of the Executive Committ¢e ar¢ fvrnished with recent minutes of relevant m¢¢tings as well as an induction 8¢ssion with thc President. All Memb¢rs of the Ex¢¢utive Commille¢ are DBS check and undergo GDPR and Saf¢guarding (in¢luding young pwpl¢ and vulneTrbl¢ adults). The Executive Conunittee recognises that the responsibilities of a Trnste¢ are consid¢rable. Training $¢8sions will ix arrdnged as the neeA arises. Representslives of the Executiv¢ COnnIttee will alw attend annual Tntee training going forward. Statement of Executive Commlttee Respottslblllties Law applicablc to eharitics in England and Wal¢s requires th¢ Executive Committee to prepare finan¢ial stst¢ments for ¢ach fmancial year. which give a true and fair view of the Synagogue's financial 8¢tivities during th¢ year and of its fuwicial position at the end of the yeBr. In preparing financia] Staiements giving a true and fair view the Executive Committee should follow best practice and: select suitabl¢ accounting polieles and then apply them consistentjy. mak¢ judgements and estimal&8 ihat are reasonable and prndent.. state wh¢ther applicable accounting sthndards and slatcmenls of recOmM¢nd practice have been followe subJt to any departu$ disclosed and ¢xplained in th¢ financial statefftellts; and preparc the financial statements on Ibe going Concern basis unless it is inappropriate io praqume that the SJTragogue will continu¢ in operation. The Executive CoD)mitt¢¢ is responsible for keeping a¢coullting records wl)ich disclose with reasonable a¢curdcy the fiDanciRI posilion of the Synagogue and wbich enable it to ensur¢ that the financial statements comply with the applicable law. It is also responsible for safeguarding the a&8ets of th¢ Synagogue and hence for taking reasonable steps for the prevcntion alld detection of fraud and oth¢r irregularities. AekDowledgements The Executive CoJk]mittcc wishes to place on record its immense applatIOn and conslderable indebtedness to its Honorary A¢counlant, Anthony Levy, for his devotion and commitment in the continuous matydgement. ¢ontrol and sUrYi810n of the SyDagogue's accounts. In addition, multiple thanks also due to our Adjninistrator. Lorna Perez, for her assistance with the adTninistrntion and finrial matters in the office on a day to day basis. induding the smooth nllming and athninistration of the Shulcloud management system. LAuYttKèI'Y6LIUS JOINT HONORARY TREASURER On behalf of the Executlve Committee
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F 8nish and Portu ue5e S ue Holland PfArk IA)ndoD WII 4RB- Ch#rAt Y4umbtr: 248945 Inde dent ExomlDer's re rt to the E5ecutlve Committee of the S nish and Portu eles I report on the financial statemcnts of the Synagogue for the y¢aT ended 30 June 2025, which are set out on pages 6 to 15. Respe¢¢lv¢ respDD5ibilities of the Execudve Committee And ihe IDdepe#dent Examlner The Syn8gogue's Executive Committee are r¢8ponsible for the ptrparation of lh¢ fmancial statements. Th¢ Synagogue's Execulive Committe¢ consider that an audit is not required for this year (under seetion 144(2) of the Chariti¢s A¢t 2011 (th¢ 2011 Act)) and that an indwdent eXaMition is nc¢ded. It is my responsibility to.. examine the financial 8tatem¢nts (under section 145 of the 2011 Act): to follow the procedures laid down in the General Directions given by the Clwity Conmiissioners (under s¢¢tioJh 145(5)(b) of the 2011 Act). and to state wbether p8Jtirularmattcrs have co]ne to my attention. Basis of Independent Exominer's Report My examination w&$ carried out in accordance with the General Directions given by the c]lty Commissioners. An examination includes a r¢vi¢w of th¢ a¢counting r¢¢ords kept by the Chlty and a comparison of th¢ financial statements presented with those records. It also includes Consideration of any unusual items or disclosures in th¢ financial statements. and th¢ seeking of explanation5 from you as trnstees concerning ally such malters. Th¢ pmcedurcs undertaken do Dot provide all the evidence that would be trquired in on audit alld consequenily no opinion AS giv¢n a$ to whether the fmancial stal¢menls psellt a 'tsue and hir view, and th¢ report is limited to those matters set out in the stat¢m¢n1 below. Independent Examio¢r?s Statem¢nt In connection with my examinatio no matter has come to my attention: (i) Whidj gives me rcasotydble cause to believe that. in any material respecL th¢ r¢quiTem¢nts: to k¢ep accounting records in accordance with 10 130 of the 2011 ACL and to prq)are financial ststements whi¢h accord with the accounting records and to cojnply with the accounting requiremts of the 2011 Act hav¢ not been md. or To whkch. ijh my opinion, attention should be drawn in order to a)able a proper understanding of the financial stMt¢ments to be r¢ached. (2) SbJMdby.' 262DDOBCF0214FB. Name of princi1.. Nam¢ of firni: Jeremy Harrod Grant HatT(Kl LaynaJ Davis LLP- Chartered Accountants R¢l¢vaThl prof¢ss1oT qualIfition or body.. FCCA Second Floor. Kirklalld Hous< 11-15 PeteFoorough Road, Harrow, HAI 2AX Date.. ioliilis
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F nisb and Por llese S t Holland Por lffjndon Wll 4RB- Charit Number. 248945 nenr rAtln IDCO]nt and Ex diture Aecount For the Year Ended 30 Jwi¢ 2025 Totsl F$ UDrestricted RtrActed 2025 Fund8 Funds Totsl Funds 2024 UJ]restricted Restricted Funds Funds ]neoming resources Note8 Donations Fintas receivable Tax recoverable und¢r gift aid Inv¢slment in¢om¢ Social functions Sundry income 238.344 115.749 31.857 33 911 68,611 455,505 34,181 272,525 115,749 36.687 72,488 287.264 359,752 104,454 104,454 26,685 31,191 571 2.153 2.062 2,062 65,122 65,122 271,382 293,352 564,734 4.830 968 4,506 1,582 911 68,611 39,979 495.484 Re8our¢eB expEnded: Dtrect clwitabl¢ ex diftllr: SalaTie8 & expenses of offieials Children's education Kiddushim / Catering Ground reni Counctl tsx and water rates Lighi and heat Insurance 121,948 5,475 24,632 24.168 146,116 5.475 44.712 68 4.377 22257 12,647 42,634 12255 41.417 ,097 610 504 4.521 587 10.672 109.313 2,029 111,342 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 1537 1,537 435 435 lJ82 1,382 4,374 4,374 5.458 5.558 8,826 9,423 20,080 4,081 4,377 22,257 12,647 5,815 12.255 32.850 1,097 515 504 4,521 467 5,752 36,818 Laundry And Cleaning Security Telephon¢ & broadbaud Printin& postage & stationery Motor and travelling expenses L¢gal and prof¢&sional fees Books SuDdry expenses 8,567 609 95 120 4,920 loo 597 255.180 94.768 349,948 246.793 424,829 671.622 of nMia ent And admi istration. Salaries & expenses of offi¢ials Ligbt and heat Telephone & broadband Printing> poslage & stationery Bank Charges Independent Examinerfs fee8 Sundry expense8 55,897 2,473 1.097 ,545 1.487 1,920 5.300 69.719 15.834 71.731 2.473 1,097 lJ45 1,487 1.920 8.648 64,365 1,499 1,537 1.306 1,377 1.920 7,883 2.028 66,393 1.499 1.537 1,306 1.377 1,920 7.883 81,915 3,348 19.182 88,901 79,887 2.028 Totsl rewurees expended 324,899 113,950 438,849 326,680 426,857 753,537 Ineoming reyouree5 less r¢sources expended 130,606 (73,972) 56.634 155,298) (133,505) (188,8031
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F lllsh And Portu u¢ge S na o u¢ HollaTrd Park iMdon Wl14RB- Cbarlt ' Number. 248945 St*tement of Flnancial Atthqdes con¢iD Total Funds Unrestricted R&qtricted 2025 Funds Funds Total Fund8 2024 Unrt%tricted Restricted Funds Notes Ineomlng Tewurces less resourees expended 130.606 (73.972) 56,634 155,298} 1133,505) {188,803) Change in m8Tket Ylle of ]nVrtents 3.290 3,290 {986) 1986) Net $urylu51(defl¢lt) for the ye8r 133.896 {73,9721 59.924 (56,284) 1133,505) (189,789) Transfer between fidS 1200,000) 2,1 133,896 (73,972) 59,924 {256.284} 66.495 1189,789) Totsl Funds at l July 2024 475.019 212,124 687,143 731,303 145,629 876.932 Totsl Funds 4130 June 2025 118,915 138.152 747,067 475,019 212,124 687.143
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F S ntsh nd Por e8e ¢ Holland hrk L47ndoD WII 4RB- Bl8nce S Jwie 2025 Notes 2025 2024 Flxed Assets: Leas¢hold propei1ies Inv¢slmentS 682,343 53,882 682,343 50.592 736225 732.935 Current Assets: Income tax r0VernbIe Sundry debtors alld prepa)Tr¢nts C8sb at baDk atsd ill hand 9,663 5,977 115,536 131,176 9.687 8.789 114.006 132,482 LiAbllltifs f¥llttig due iyithlts one ye4r: Fintss r¢ceived in advance Sundry creditors aDd aecruals 37.116 83,218 120,334 34,578 143.696 178274 Net current Ai$ets 10.842 {45,792) To¢01 8$ts kss Current Mabllldes 747.067 687,143 Represented by. UDTestrieted fMDds Gener A¢)MUlated Fund )8,915 475,019 Re%trlcted funds Bui]ding Contingency Fulld Or Tornh Chadash Fund JIA Edu¢ation Fund Ja¢k Poyastro Matrrmony Fund Esther & Joseph Sidlin Memorial Fund Auntie Lena M¢morial Fund E7Th Nahmad Memorial Fund 29.789 28,436 18.095 15,156 1.486 1,920 43.270 31,726 28.016 17.828 14,932 lJ82 2,158 115.882 138,152 212.124 Total Funds io 747,067 687.143 Approved by the Executive Committee on loliil and signed on its behalf by: Sn•dby.' 4e584F8 L8llrenee Hon TrtA8iirer u8
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F %llish and Portu o ue HollAnd Park IAtyndon Wll 4RB- Charlt Number: 248945 Notes to the FinanciAI Ststements for tkne Year Ended 30 June 2025 Aceountill Policies Bis1$ of preparing the financlll statement8 The fancial stat¢nLents of th¢ c]wity, which is a public bellefii entity under FRS 102, hav¢ been prepare] in accordonce with the Clwiiies SORP (FRS 102) 'Accounling and Reporting by Charities: Stai¢m¢nt of R¢comm¢nded Practic¢ applicabl¢ to charities preparing their a¢counts tn accoTdance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finan¢ial R¢porting Standard 102 'The FinAn¢ia] Rew)rting Standard applicable in thc UK and Republic of Ireland, and the Chatitie5 Act 2011. The financial statements bave been prepaTed under the hIor1¢81 cosl convemion unless otherwise Stat in th¢ rdevatst accounting policy note. The finaucial statcments aTC presented in Sterling {£} aj figures are shown to the nearest whole pound. A separat¢ ]ncomc and Exp¢ndAture Account has not been prepared a5 011 of the relevant inforniation is included in the Statement of FiDan¢ial Activities. Incoming resources Ftnta is included on the basis of amounts due for tbe eutTent year after making allowance for any amounts that arc unlikely to be collect¢d. Wherf any life metnberships have bcen received these have been ittcluded within liabilities under 'Finta re¢¢ived in advance, with amounts released to income each year in line with CWTent Fi)tta rate5. loeome tax recoverdbl¢ ]w been includ¢d io the extent that it aris¢s on gift aid dollations. Within iDV¢$tment incom< inteT¢St is accoullted for on an accnthls basis and dividend income is accouDt¢d for when received. Donations comprise amounts received during the year. t£gacies 8r¢ credited in the yelr in whi¢h they are rec¢ivablc. GrDIs Grants are Cognised as incom¢ when th¢ entit]¢w¢nt to ihe grant is certain. Grdnts made towards th¢ Costs of spc¢ific activiii¢S and services are classified as restrictcd ineome. Where servi¢¢s are not llY (klkvered in thc Friod th¢ restricted iD¢ome was receive& the balanc¢ of the grant is held in restricted fimds. Grants lowards the cost of acquiring assets are classifi¢d as restricted income when r¢ceived. A transfer is then made from T¢stricted fund$ to unr¢stricted funds to refle¢t the purchase of capitaE item5. Gr8nts that Provide C4)rc funding or a general ¢ontribution to the charity arc in¢ludsJ UDd¢r sulldry income within unrestricted funds. Expenditsre Liabilities reeognis¢d as exp¢tiditte as soon as th¢re is a l¢g81 or constnjctive obligation conllnitting th¢ charity to that eXpendire, it is probabl¢ that a transfer of ¢wnomic benefits will be required in Settlemcnt and the amount of the obligation can be m¢aswed reliably. Exp¢nditure is #ccounied for OD an a¢ernals basis and has been classified under headings thai aggregate all cost lated to the category. Wh¢r¢ costs catmot be dkredly attributed to parti¢ular headings, have be¢n 8lloced to activities on a basis consistenl with the use of Tesources.
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F
nl$h and Portu uele S Dx o ue Holland P8rk IK*lldoD WII 4RB- Charit Nwllber: 248945
Notes to the Financial Statements for the Year Ended 30 June 2025 ¢ontinued Aceountln Policies eontiDued Pension costs ¥nd other post-r¢tiremeDt benefits Th¢ Synagogue makes contributions to a defined contribution pension sch¢me. Contributions payable ar¢ charged to the Statement of FitLan¢ial Activities in thc p¢riod lo whi¢h they relate. aslng commitments Rentals receivable or payable und¢r operating leases are credited to incom¢ or charged to expenses on a straight-line basis over the1¢8se lerm. Fund atCOUDilng R¢stticl¢d fvnds ar¢ only used for the slf1¢ pUoSe laid down by the donor. Exp¢nditure that meets these criteria is charged io the relevant fund. For restricted funds s¢t up for the specifie purpose of acquiring fixed asscts, once the assets have becn a¢quired, Ihe fiJnd will be transferred to unT¢strACted funds providing that the acquired assets form part of the gcn¢ral fabtic of the SyThgogue. Further explanation of the nature and purpose of each nd is included in th¢ notes to the fin8cla] statem¢nts. Unrestrictsd fjJDds are the residue of incoming rcsouwes receivable without furtber specified purposes and ar¢ availabl¢ as genernl fvnds. Tanglble fixed assets sehold properties are stated at cost and no depr¢¢iation 15 Charged due lo the large numb¢r of remaining years l¢ft on the lease. Any ¢xpe])ditur¢ inCUTred on the upkeep of th¢ propertics is not capitslised but is instead charged diTe¢tly againsi tlLe appropriatc f. Assets aequired or donated at a cost or valuation below £2,000 are not capiialised in the year. IDvestmeDts Investments held &s fjxed assets stated at markd value. Taxjtion The S)wgogue is exempt fTom Col0n tsx on its charitabl¢ activitie8. DOtioNS Kiddu5bim and Praver Books Donations in¢lude amounts received from congr¢g8nts and 1)the to o)vw the costs of Scpher Tcpairs. Kiddushim and prdyer books. Inde eDdent ExJmlnatiOD Ftes Included within costs of management and athinistration is £1,920 (2024.. £1,920) in respect of tndepeThd¢nt examination fees. io
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F ni$b and Por es ue Holland Park Londo Wll 4 hArl fi¥mber: 248945 Notes to the FlnADeknl Statements for the Yethr EJMI 30 Jun 2025 fODtknued 2025 2024 nveg om Interest Teeeivabl¢ on d¢posits Interest pxyable Incom¢ from listed investtnents 32 {218) 1.186 1.321 1?66) 1,098 I,ooi 2.153 5. Sund Ineome 2025 2024 Nursery rent Security Juda reeharges Class¢s Other income 55.824 7.040 2.363 2,81X 584 53.587 6.810 4.414 3(X) 12 68,611 65,122 6. Em ent Cts$ts 2025 2024 Jn¢luded within Salaries & expenses of officials are the following: Wages and salaries Social security costs P¢tision contributions 177.570 12,587 3,233 138,885 6.032 2.254 193,391 147.171 l ¢mplosre ¢aTned more th8n £60.000 per anown {2024'. DO employ¢e earned more ihan £60,000 per anuum). The members of the Executiv¢ Committee do not re¢eive r¢muller&tion for their wvices and incurred no expens¢9 thiiing the year. Th¢ kverage number of full time ernployees during the year w&8 5 (2024: 5). 2025 sthold Pro 2024 Ai w8t- 903 years unexpired sagogue and Communal H811 Setnoff Hall Suzanne Dellal H811 8 St James'y Gardens 9,932 5.885 485,891 180,635 682,343 9.932 5,885 485.891 180,635 682,343 In the opinion of the Ex¢cutive Committee th¢ nMet value of the long le&sehold properties tsre Sighificant]y greater than the historical cost values Shov above. 8. Invvtmepts 2025 2024 London Sephjrdi TTUSt 53,882 53.882 50,592 50,592 li
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F nish and Por uese S 'ng ue HollaThd Park London Wll 4RB- Chrlt NMber. 248945 ¢181 Stthtements for the Y¢8r Ended 30 June 2025 eontinued 8. Inve8tment$ eontknued London Sephllrdl Tru¥t The London Sephardi Tnt is the custodiatt ttwte¢ for the wleI investments of a number of ¢Onsti¢t chatiti¢s. itieluding the Sassooll David Trt (forni¢rly the Holl8nd Park Synagogue Fund) a fund estsblished for the benefit of th¢ Synagogu¢. The Synagogue's shalt of th¢ incojne of tbe tsvst in the year ended 30 Jutse 2025 amounted to £1,18612024 . £1,098). The matet value of the Sassoon David Trust investments (all of which are held in the UK) ai the date of the most recenl valuation, 31 October 2024, amounted to £53.882, compared with the cost of £4,861. l#bUltle5 fallln dut wtthin one ar This ba1ce incltsdes the initial deposit (plus a¢crued interest sin¢¢ receipt) received from Ker¢n's NuTS¢ry under tbe ternis of the lease Rgreement between Ketrn's Nur5cry and the S)m8gogue. ThÉs gjnount is repayable no earlier than the break date contained within the leas¢ of l Jw)¢ 2022 and wi be used by the SgOgUe to meet any default by K¢ren'5 Nursery as specified within the lease. 10. FuDds Anal $18 of net * sets bebyeen fwids Tangible Currnt Current Fixed Assets Assets Lihbilities Totsl Restrl¢t¢d fund$ Building Contingency Fund Or Torab Chadash Fund JIA Education FuDd Jack Poyastro Matrimony Fund Esther & Jos¢ph Sidlin Memorial Fund Aunti¢ L£na Memorial Fund Ezra Nalllnad Memorial Fund Total restrieted funds 29,789 28,436 18,095 15,156 1,486 1,920 43,270 29,789 28,436 18,095 15.156 1.486 1,920 43,270 138,152 138,152 Utsrestri¢ted fundj G¢nernl Accumlllad FuJ)d 736225 16,976) {120,334) 608,915 Totsl 736,225 131.176 {120,3341 747,067 12
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F S anlsb aDd Por ese SvD o ue Holl•d Prk ndOn Wll 4RB- Ch4rit Number: 248945 20 Chat5ge in Market Transfer At l July In¢oming Outgoing Value of Beiween At 30 June 2024 R¢sourtt5 R¢wees Inve5tment$ FuThJ5 2025 Movement kn fullds for tbe t#r Rtstricted fund$ Buildin8 contingen Fund Or Torah Chad&sh l.und JIA Education Fund Ja¢k Poyasiro Matrimony Fd Eh¢r & Joseph Sidlirt Memorial Fund Aunlie L¢na M¢morial Fund E7JaNahmad Memorial Fund 31.726 28,016 17,828 14.932 1,582 2,158 115,882 34.011 {35,9481 420 267 224 24 11201 32 12701 5.IMM> 177.6121 29,789 28,436 18,095 15,156 1,486 1,920 43270 Tota] restricted fimds UDre$tritted fuDd5 GeJ¢ral Accumultd Fwid 212,124 39.979 1113,9501 138,152 475.019 455,505 1324,8991 3,290 608,915 687.143 495,483 (438,8491 3.290 747,067 Change in Market Transfcr Value of Between At 30 June FuT¥J5 2024 Movemtni for tb¢ rSor er At l July Incoming Outgoing 2023 Re50ur¢es Resources Investm¢ni$ RestTiftsd fvnds Building ConiingY Fund Or Torah Chada5h Fund JIA Education Fund Jack POyar9 Matrimony Fund Esther & Joseph Sidlin Memoria] Fund Auntie Lena Memorial Fund Era Nahmad Memorial Fund 82,369 166,771 (417.414) 27,333 683 17,393 435 14,568 364 1,641 41 2 J25 58 125,000 200.000 31.726 28,016 17,828 14.932 .582 2,158 15,882 11001 12251 Toial r¢stricted fimd5 UMrestrl¢t¢d tsllds Gen¢ral Accumulated Fund 145,629 293,352 (426,8571 200,000 212,124 731,303 271,382 (326,680} 1986} 1200.0001 475.019 Total Funds 876,932 564.734 (753,537} 1986} 687.143 A) CeDerl A¢eumulated Fund Included within this fund are the following fund& The Juli• Cohen Floral Futtd This ti]nd wa5 creaied by the family of the late Julia Cohen to provide floral gift5 for ihose in hospital or ill * home and to decorate the Sytsa808ue on festiva15 and special event& Tbe Emity & Hlm S#l¢m Memorlal Fund Thi5 futKi was provided by Rose & Albert Salem io ¢oniribuie to the cost of ¢rectit)g the Sucrah and Kiddushirn throughout su¢t. 13
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F S aDlsb and For ese Svna ue Hollnd Park London Wl14RB- Ch Number. 248945 l¥otes to tbe Financlal Statemen1$ or the Year Ended 30 June 2025 ¢ontillued 10. Fund contlnued b) Buildl olltin enc ' FuDd This fund was set up to meet the pwp¢r upkecp of the property and Iherefore the cost of rcpairs and maintenan¢e of th¢ Synagogue premises is s¢t directly against ihis fund. The Building Conling¢ncy Fund includ¢s the Tcmaining balances held in the Synagogue Restoration & Regeneration Fund and the John M Cohen, Julia Cohell and Esth¢r Sassoon M¢morial Fund. These funds were tranSfed lo the Building Contsngency Fund as the fi]nd8 wwe used for tbe sam¢ pUSe. The Synagogu¢ Restoration & R¢gencration Fund was set up to med the increasing need for cttpit81 projects. Such as renovAtion and refurbishment and to expandillg the facilities offcred by the Synagogue. knongsl others this fuDd Includ the Rose & Albert Salem R¢storntioD Fund. The John M Cohw Julia Cohen and Esther Sasswll Memorial Fund was a fund set up spe¢tfiea]ly for the m8intenanee of the building. c) Or TorAh C sh Fund The fund includes thc following prize nds. Anne & Joseph Cohen Fujxl Betty Benardout Memorial Pri7£ Fund Calaord Prize Fund Daniel Nahum Memoyial Prize Fund Ena (Ruth) Benczra Memotial Fund Isaac Faragi Memorial Fund Jack & Marie Cohen M¢morial Fund J D Cohen M¢moiial Prize Fund Jules Ben-N8than Memorial Fund Lb Cohen Memorial Prize Fund Lillian Aelion Memorial Prize Fund Minnie (Ruth) B¢nardoui Prize Fuud Mordechai Nahman Graduation Award Shlomo, Rach¢l & Miriam (Jamil¢h) Dwek MemoTial Prize Fund VictoT Ben-Nathan Memorial Fund Victoria Orloff Memorial Prize Fund The Fund also in¢ludes the following fund: The Gr•ee Ellell NAbum M¢morial Fund A donation from Rose & Albert Salem providing a small monetary gifi for ea¢b child at the Or ToTrh Chadasb classcs at Chanukah. d) JIA Education nd This fid was set up from donalion8 received through the JtA from congregants to be appli¢d for educational puryoses. ek Po 'stro Matrlmonv This fund provides mleSt cash payments for our members who ajr about to be manied in the Synagogu¢. 0 Estber & ose h Si(Uin Me rial Fu This fund was set up in order to acquir¢ books for Bar Mitzvah and Bat Chayil cl)ildren. g) The Au em This fimd, donated by Suza[¢ and Maurice Saragoussi, was set up fftn OTder to acquir¢ gkfts for Bar Mitzyah and Bat Chayil children. 14
Docusign EnvelopÈ ID." 78B1D481-94064BEF-83C7-2D4C674ABA8F anisb knd Portv ese S 'na Holland Par I)don Wl14RB- Chari 1¥4umb¢r: 248945 Notes to the Financial Ststements for the Year Ended 30 Jutte 2025 Colltlnued 10. Funds Contittued b) The EzrA Nahm8d Melljorlal Fulld The Ezra Nahmad Memorial Fund is dedicated to ¢nhaDcing SgogUe att¢ndance by supporting development and cducational initiativcs. with a special focus on ¢ngagiDg youth. The fid 1$ used io foer a vibrant community througb increased activities and involvem¢nt. pani¢ularly wnong younger members. 15