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2020-12-31-accounts

Page
Reference and administrative details ofthe Charity, its Trustees and advisers
Trustees'
report		 2-7
Independent auditors' report on the financial statements 8-11
Consolidated statement offinancial activities 12
Consolidated balance sheet 13
Charity balance sheet 14
Consolidated statement ofcash flows 15
Notes to the financial statements 16-44
Trustees M. Itzinger, Treasurer M. Itzinger, Treasurer M. Itzinger, Treasurer
M. Winegarten, Burial Society Treasurer
J.Weg, Vice President
L. Newmark, Treasurer
S.Gertner,
Burial Society Treasurer
G. Douek, Vice President
A.S. Cohen, President
Charity registered
number 254951
Principal office 65 Watford Way
London
NW4 3AQ
Chief executive officer Rabbi A. Lazarus
Independent auditors Landau
Morley LLP
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 OFX
Bankers HSBC
165Fleet Street
London
EC4A 2DY
Solicitors Bircham Dyson Bell
50 Broadway
London
SW1H OBL
Fladgate
LLP
25 North Row
London
W1K6DJ

Unrestricted Restricted Total Total
funds funds funds funds
Note 2020
E		 2020f 2020 2019
Income from:
Donations
and legacies		 1,074,942 36,486 1,111,428 1,124,761
Charitable
activities		 557,?68 557,768 581,066
Other trading
activities		 1,851,867 1,851,867 1,877,957
Investments 307,372 307,372 347,581
Other income 101,875 101,875 2,282,733
Total income 3,893,824 36,486 3,930,310 6,214,098
Expenditure
on:
Raising funds 2,445,580 2,445,580 2,015,584
Charitable
activities		 2,260,451 4,717 2,265,168 2,396,729
Total expenditure 4,706,031 4,717 4,710,748 4,412,313
Net (expenditure)/income before net
(losses)/gains
on		 investments (812,207) 31,769 (780,438) 1,801,785
Net (losses)/gains on investments (90,000) (90,000) 10,000
Net (expenditure)/income before
taxation
(902,20?) 31,769 (870,438) 1,811,785
Taxation 15 49,099 49,099 57,739
Net (expenditure)/income after
taxation (853,108) 31,769 (821,339) 1,869,524
Transfers
between		 funds 10,329 (10,329)
Net movement
in		 funds (842,779) 21,440 (821,339) 1,869,524
Reconciliation
of		 funds:
Total funds brought forward 27,151,884 1,980,569 29,132,453 27,262,929
Net movement
in funds		 (842,779) 21,440 (821,339) 1,869,524
Total funds carried forward 26,309,105 2,002,009 28,311,114 29,132,453

CHARITY BALANCE SHEET CHARITY BALANCE SHEET
AS AT 31 DECEIIIIBER2020
Note 2020f 2019
Fixed assets
Tangible assets 17 26,380,436 22,797,855
Investment
property		 18 500,000 500,000
26,880,436 23,297,855
Current assets
Debtors 19 3,352,623 3,063,755
Cash at bank and in hand 3,120,911 7,037,695
6,473,534 10,101,450
Creditors: amounts falling due within one
year 20 (1,144,860) (789,992)
Net current assets 5,328,674 9,311,458
Total assets less current liabilities 32,209,110 32,609,313
Creditors: amounts falling due after more
than one year (3,145,721) (3,131,315)
Net assets excluding pension asset 29,063,389 29,477,998
Total net assets 29,063,389 29,477,998
Charity funds
Restricted funds 22 2,002,009 1,980,569
Restricted funds 22 2,002,009 1,980,569
Unrestricted
funds
General funds 22 26,662,077 27,098,126
Revaluation
reserve		 22 399,303 399,303
Total unrestricted funds 22 27,061,380 27,497,429
Total funds 29,063,389 29,477,998

2020 2019
E
Cash flows from operating
activities
Net cash used
in operating
activities		 (59,063) (322,171)
Cash flows from investing
activities
Proceeds from the sale oftangible
fixed		 assets 2,736,283
Purchase of intangible assets (213,883)
Purchase oftangible
fixed assets		 (3,611,515) (1,951,992)
Net cash (used in)lprovided
by investing		 activities (3,611,515) 570,408
Cash flows from financing
activities
Repayments
ofborrowing		 (58,488) (81,910)
Cash inflow from new borrowing 350,000
Net cash (used in)/provided
by financing		 activities (58,488) 268,090
Change
in cash and cash equivalents		 in the year (3,729,066) 516,327
Cash and cash equivalents
at the beginning		 ofthe year 7,228,154 6,711,827
Cash and cash equivalents
at the end		 of the year 3,499„088 7,228, '/54

Unrestricted Restricted Total
funds funds funds
2020 2020 2020
F
Synagogue membership 377,333 377,333
Other synagogue income including donations 564,352 36,486 600,838
Coronavirus job retention scheme grant 133,257 133,257
1,074,942 36,486 1,111,428
Unrestricted Restricted Total
funds funds funds
2019 2019 2019
Synagogue membership 413,059 413,059
Other synagogue income including donations 679,685 32,017 711,702
1,092,744 32,017 1,124,761

Unrestricted Total
funds funds
2020 2020
Burial Society 488,530 488,530
Beth Din 69,238 69,238
557,768 557,768

Unrestricted Total
funds funds
2019 2019
Burial Society 521,651 521,651
Beth Din 59,415 59,415
Total 2019 581,066 581,066

Unrestricted Total
funds funds
2020 2020
E
Kashrus licensing 1,851,867 1,851,867
Unrestricted Total
funds fundh
2019 2019
Kashrus licensing 1,877,957 1,877,957
Unrestricted Total
funds funds
2020 2020
Rental income 298,566 298,566
Interest receivable 8,806 8,806
307,372 307,372

Unrestricted Total
funds fund»
2019 2019
Rental income 334,334 334,334
Interest receivable '/3,247 'l3,247
347,581 347,581

Unrestricted Total
funds funds
2020 2020
Coronavirus job retention scheme grant (Subsidiary) 101,875 101,875
Unrestricted Total
funds funds
2019 2019
Gain on disposal offixed assets 2,282,733 2,282,733

Unrestricted Total
funds funds
2020f 2020
Kashrus licensing 1,382,837 1,382,837
Investment management costs 20,693 20,693
Staff costs 749,708 749,708
Depreciation, amortisation and impairment 292,342 292,342
2,445,580 2,445,580

Unrestricted Total
funds funds
2019 2019
Kashrus
licensing		 1,145,956 1,145,956
Investment management costs 9,940 9,940
Staff costs 684,153 684,153
Depreciation, amortisation and impairment 175,535 175,535
2,015,584 2,015,584

Unrestricted Restricted Total
funds funds funds
2020 2020 2020
f f
Burial Society 441,093 441,093
Beth Din 542,665 542,665
Synagogues 1,249,599 4,717 1,254,316
Other grants payable 27,094 27,094
2,260,451 4,717 2,265,168

Summary
by fund type (continued)
Unrestricted Restricted Total
funds funds funds
2019 2019 2019
Burial Society 409,107 409,107
Beth Din 354,867 354,867
Synagogues 1,488,890 26,907 1,515,797
Other grants payable 116,958 116,958
2,369,822 26,907 2,396,729

Total
Staff costs Depreciation Other costs funds
2020 2020
f		 2020
F		 2020
E
Burial Society 218,903 2,258 219,932 441,093
Beth Din 435,473 3,737 103,455 542,665
Synagogues 510,240 16,441 727,635 1,254,316
Other grants payable 27,094 27,094
1,164,616 22,436 1,078,116 2,265„168
Total
Staffcosts Depreciation Other costs funds
2019 2019 2019 2019
Burial Society 223,826 2,245 183,036 409,107
Beth Din 299,824 6,350 48,693 354,867
Synagogues 571,753 39,074 904,970 1,515,797
Other grants payable 116,958 116,958
1,095,403 47,669 1,253,657 2,396,729

Activities Grant
undertaken funding
of		 Support Total
directly activities costs funds
2020 2020 2020 2020
E
Burial Society 394,157 46,936 441,093
Beth Din 495,728 46,937 542,665
Synagogues 841,237 413,079 1,254,316
Other grants payable 27,094 27,094
1,731,122 27,094 506,952 2,265,168
Activities Grant
undertaken funding
of		 Support Total
directly activities costs funds
2019 2019 2019 2019
E
Burial Society 358,764 50,343 409,107
Beth Din 304,520 50,347 354,867
Synagogues 1,024,357 491,440 1,515,797
Other grants payable 116,958 116,958
1,687,641 116,958 592,130 2,396,729
Analysis ofdirect costs
Burial Total
Society Beth Din Synagogues funds
2020 2020 2020 2020
E
Staff costs 188,639 405,209 329,657 923,505
Depreciation 2,258 3,737 16,441 22,436
Other costs 203,260 86,782 495,139 785,181
394,157 495,728 841,237 1,731,122

Burial Total
Society Beth Din Synagogues funds
2019 2019 2019 2019
Staff costs 187,291 263,289 355,165 805,745
Depreciation 2,245 6,350 39,074 47,669
Other costs 169,228 34,881 630,118 834,227
358,764 304,520 1,024,357 1,687,641

Burial Total
Society Beth Din Synagogues funds
2020 2020 2020 2020
E E
Staff costs 30,263 30,264 180,583 241,110
Other costs 16,673 16,673 232,496 265,842
46,936 46,937 413,079 506,952
Burial Total
Society Beth Din Synagogues funds
2019 2019 2019 2019
Staff costs 36,535 36,535 216,588 289,658
Other costs 13,808 13,812 274,852 302,472
50,343 50,347 491,440 592,130

Grants to Total
Institutions funds
2020f 2020
Grants to institutions 27,094 27,094
Grants to Total
Institutions funds
2019 2019
Other grants &E5,000 116,958 116,958
The Group has made the following material grants to institutions during the year:
2020f 2019
Name ofinstitution
The Hendon Families Synagogue Limited 12,000 101,608
Milah UK 6,220 3,300
Initiation Society 5,000 5,000
Other grants &F5,000 3,874 7,050
Total grants to institutions 27,094 116,958

2020 2019
Fees payable to the Charity's auditor for the audit ofthe Charity's annual
accounts 17,375 13,346
Fees payable to the Charity's auditor in respect of:
The auditing ofaccounts ofthe subsidiaries ofthe Charity 9,850 9,000
All non-audit services not included above 1,775 5,540

Group Group Group Charity Charity
2020 2019 2020 2019
Wages and salaries 1,720,671 1,582,431 1,031,455 954,419
Social security costs 132,814 144,915 83,393 88,775
Contribution to defined contribution pension
schemes 60,839 52,210 49,768 52,210
1,914,324 1,779,556 1,164,616 'l,095,404
The average number of persons employed by the Charity during the year was as follows:
Group Group
2020 2019
No. No.
Synagogues 26 27
Burial Society 8 8
Kashrus 22 21
Administration 21 20
77 76
The number ofemployees
f60,000was:		 whose employee benefits (excluding employer pension costs) exceeded
Group Group
2020 2019
No. No.

Taxation
2020 2019
K
Corporation
tax
Current tax on net (expenditure)/income for the year (49,099) (57,739)
Taxation on net (expenditure)/income (49,099) (57,739)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31DECEMBER2020
16. Intangible assets
Group
Development
costs
At 1 January 2020 761,062
Disposal (761,062)
At 31 December 2020
At 1 January 2020 475,107
Charge for the year 134,898
Impairment
charge		 151,057
On disposal (761,062)
At 31 December 2020
Net book value
At 31 December 2020
At 31December 2019 285,955

Development
costs
At 1 January 2020 92,597
Disposal (92,597)
At 31 December 2020
Amortisation
At 1 January 2020 92,597
On disposal (92,597)

Freehold Motor Office
property vehicles equipment Total
Cost or valuation
At 1 January 2020 22,763,233 30,609 295,239 23,089,081
Additions 3,600,657 10,858 3,611,515
At 31 December 2020 26,363,890 30,609 306,097 26,700,596

Group (continued)
Freehold Motor Office
property vehicles equipment Total
E E E
Depreciation
At 1 January 2020 23,614 261,810 285,424
Charge for the year 3,598 25,225 28,823
At 31 December 2020 27,212 287,035 314,247
Net book value
At 31 December 2020 26,363,890 3,397 19,062 26,386,349
At31December 2019 22,763,233 6,995 33,429 22,803,657
Charity
Freehold Motor Office
property vehicles equipment Total
E E E E
Cost or valuation
At 1 January 2020 22,763,233 24,959 247,573 23„035,765
Additions 3,600,657 4,360 3,605,017
At 31 December 2020 26,363,890 24,959 251,933 26,640,782
Depreciation
At 1 January 2020 17,964 219,946 237,910
Charge for the year 3,598 18,838 22,436
At 31 December 2020 21,562 238,784 260,346
Net book value
At 31 December 2020 26,363,890 3,397 13,149 26,380,436
At 31December 2019 22,763,233 6,995 27,627 22,797,855
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31DECEMBER2020
18. Investment property
Group
Freehold
investment
propertyf
Valuation
At 1 January 2020 1,990,000
Deficit on revaluation (90,000)
At 31 December 2020 1,900,000
Charity
Freehold
investment
propertyf
Valuation
At 1 January 2020 500,000
At 31 December 2020 500,000

Group Group Charity Charity
2020f 2019 2020 2019
Due after more than one year
Amounts
owed by group undertakings		 1,603,737 1,569,860
1,603,737 1,569,860
Due within one year
Trade debtors 562,056 494,541
Amounts
owed by group undertakings		 1,579,446 '/,355,745
Other debtors 169,440 142,416 169,440 138,150
Prepayments
and accrued income		 41,636 89,519

Deb tors (continued)
Group Group Charity Charity
2020f 2019 2020f 2019
Tax recoverable 106,787 104,471
879,919 830,947 3,352,623 3,063,755

Group Group Charity Charity
2020 2019 2020 2019
Bank loans 106,101 88,995 106,101 88,995
Trade creditors 106,723 111,492 60„644 44,606
Other taxation and social security 138,664 134,442 33,796 36,375
Other creditors 777,798 548,174 650,181 528,802
Accruals and deferred income 332,187 154,794 294,138 9'I,214
1,461,473 1,037,897 1,144,860 789,992

Group Group Charity Charity
2020 2019 2020 2019
Bank loans 2,892,769 2,968,363 2,892,769 2,968,363
Provision against group debtor 252,952 162,952
2,892,769 2,968,363 3,145,721 3,131,315
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Analysis ofnet assets between funds - current period
Unrestricted Restricted Total
funds funds funds
2020 2020 2020
K
Tangible fixed assets 24,766,653 1,619,696 26,386,349
Investment property 1,900,000 1,900,000
Current assets 3,996,694 382,313 4,379,007
Creditors due within one year (1,461,473) (1,461,473)
Creditors due in more than one year (2,892,769) (2,892,769)
Total 26,309,105 2,002,009 28,311,114
Analysis of net assets between funds - prior period
Unrestricted Restricted Total
funds funds funds
2019 20'l9 2019
Tangible fixed assets 21,183,961 1,619,696 22,803,657
Intangible fixed assets 285,955 285,955
Investment property 1,990,000 1,990,000
Current assets 7,698,228 360,873 8,059,101
Creditors due within one year (1,037,897) (1,037,897)
Creditors due in more than one year (2,968,363) (2,968,363)
Total 27,151,884 1,980,569 29,132,453

Group Group
2020 2019
Net income/expenditure
for		 the period (as per Statement of Financial
Activities) (821,339) 1,869,524
Adjustments for:
Depreciation charges 28,823 31,797
Amortisation charges 285,955 191,407
Loss/(Gains) on investments 90,000 (10,000)
Loss/(profit) on the sale offixed assets (2,282,733)
(Increase)/decrease
in debtors		 (48,972) (146,678)
Increase/(decrease)
in creditors		 406,470 24,512
Net cash used in operating activities (59,063) (322,171)
26. Analysis of cash and cash equivalents
Group Group
2020 2019
K
Cash in hand 3,499,088 7,228,154
Total cash and cash equivalents 3,499,088 7,228,154
27. Analysis ofchanges in net debt
At 1 At 31
January December
2020 Cash flows 2020
K K
Cash at bank and in hand 7,228,154 (3,729,066) 3,499,088
Debt due within
1 year		 (88,995) (17,106) (106,101)
Debt due after 1 year (2,968,363) 75,594 (2,892,769)
4,170,796 (3,670,578) 500,218