2021-12-31-accounts

Charity number: 254951

FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FEDERATION OF SYNAGOGUES

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 6
Independent auditors' report on the financial statements	7 - 10
Consolidated statement of financial activities	11
Consolidated balance sheet	12
Charity balance sheet	13
Consolidated statement of cash flows	14
Notes to the financial statements	15 - 36

FEDERATION OF SYNAGOGUES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees	M. Itzinger,Vice President
	M. Winegarten,Burial SocietyTreasurer
	J. Weg,Vice President
	L. Newmark,Treasurer
	S. Gertner – retired 19/06/2022
	G. Douek – retired 19/06/2022
	A. S. Cohen, President E. J Rashbass, Treasurer – appointed 19/06/2022 G. Rokash,Burial SocietyTreasurer – appointed 19/06/2022
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 0FX Bankers HSBC 165 Fleet Street London EC4A 2DY Solicitors Bircham Dyson Bell 50 Broadway London SW1H 0BL Fladgate LLP 25 North Row London W1K 6DJ

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FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31st December 2021. The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Charity’s Constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2019).

LEGAL AND ADMINISTRATIVE DETAILS

Legal and administrative details as set out on the information page form part of this Report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Federation of Synagogues (FOS) is an unincorporated association governed by its Constitution, which is updated from time to time.

Under the framework set out in the 2013 Laws, the organisational structure is headed by seven Trustees. The Trustees are elected by the Federation Council for a three-year term.

The Council consists of delegates elected by Constituent and Affiliated synagogues. In addition, up to six Elders can be appointed. The number of delegates allowed for Constituent synagogues depends on the size of membership in that for every 25 male members one delegate is allowed with a maximum of 7 elected delegates per synagogue. In addition, the President, two Wardens and a Financial Representative of each Constituent synagogue are also members of Council ex officio. Similarly, up to 7 women for each constituent synagogue can be appointed to serve on Council. Affiliated synagogues are represented by their President and by up to 3 male and 3 female representatives.

Trustees can also co-opt not more than 10 other Federation members to the Council with a view to broadening the pool of skills and expertise available to them.

The distinction between a Constituent and an Affiliated synagogue is set out in the Constitution. Normally, a Constituent synagogue is fully owned by the Federation, its employees are paid through the Head Office payroll, its budgets have to be approved by Head Office and all items of income and expenditure pass through the Head Office accounts department. An Affiliated synagogue is where either all or some of its members are members of the Federation Burial Society. The premises are not necessarily owned by the Federation and the only financial transactions are the payment by the Affiliated synagogue to the Federation Head Office of Federation dues. All other items of income and expenditure are the responsibility of the Affiliated synagogue.

Further to the Council meeting on 19th June 2022 the Trustee body for the next triennial is:

President: Andrew S Cohen Vice President: Jacob Weg Vice President: Meir Itzinger Treasurer: Leon Newmark Treasurer: Elie Rashbass Burial Society Treasurer: Gavriel Rokash Burial Society Treasurer: Moshe Winegarten

Steven Gertner and Geoffrey Douek retired as Trustees on 19th June 2022.

When new Trustees are elected, they are generally already familiar with the Federation’s practices. As a means of induction, they visit Head Office to meet with the Chief Executive and key staff members as well as visiting other significant sites such as the synagogues and burial grounds.

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FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

There are four Council meetings each year and, under the new Laws, the Council of the Federation acts as a consultative body. The Trustees have an obligation to seek the views of Council on matters of special business, defined as:

• (a) the level of Federation dues payable;

• (b) the admission of new synagogues to and the disaffiliation of existing synagogues from the Federation;

• (c) the expenditure of a sum in excess of £250,000 (except in a situation which, in the reasonable opinion of the Trustees, is an emergency);

• (d) the appointment or dismissal of Federation Beth Din Dayanim

• (e) the continuing operations of the Beth Din;

• (f) the continuing operations of any trading subsidiary of the Federation.

The Council has the following core powers:

• 1) To elect and remove the Trustees

• 2) To propose and vote on amendments to the Constitution

On the operational side, the Trustees delegate the day-to-day responsibility for organising the charity’s activities to a Chief Executive and Head Office staff. Rabbi Avi Lazarus has occupied the position of Chief Executive since September 2014.

The charity has two subsidiaries, Kosher Foods Supervisory Services Limited and Watford Way Investments Limited.

Kosher Foods Supervisory Services Limited (KFSS) provides supervised Kosher food production in the UK and overseas. It had a turnover of £1,837,447 (2020 £1,851,867) with a loss for the year of £15,254 (2020 loss £401,505), as shown in the notes to the Financial Statements. Watford Way Investments Limited holds property for investment purposes which was financed out of the proceeds from the sale of West Hackney synagogue. The subsidiary commenced trading on the 21st December 2006. The company owns a commercial property in Coventry which includes two office suites. Watford Way’s loss for the year was £627 (2020 £327 before re-valuation). The Trustees believe that the property in Coventry remains a good medium to long term investment.

Risk management

The Trustees have identified the major risks to which the charity is exposed and are satisfied that systems are in place to manage those risks. Normally, Federation constituent Synagogues are given the flexibility to manage their own affairs, provided that they achieve a neutral budget or a surplus at the end of each year.

Remuneration

During the Federation’s restructure at the end of 2015, the Chief Executive and Trustees considered the remuneration of all staff by comparing to remuneration levels of similar charities. They will continue to monitor changes in market forces and other factors that may affect this.

OBJECTIVES AND ACTIVITIES

A summary of the objects of the charity as set out in the governing document:

The FOS is a Synagogal body that seeks to serve, represent and lead members of the Orthodox Jewish community. As such, it provides places of worship, facilities for education and orthodox burial for its members. It maintains a Beth Din and provides Rabbis and Ministers. Through its subsidiary, the charity is involved in the supervision and provision of food, serving the Jewish public by facilitating the provision of Kosher food for retail outlets and restaurants.

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FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The vast majority of the activity of the Federation is at local community level. Federation synagogues provide a highly valued and quality service to their members. Federation synagogues are friendly, warm and welcoming to both members and guests. The structure and atmosphere in a Federation synagogue is designed to enable members to achieve their religious potential. The small size of membership of a Federation synagogue enables the Rabbi to know most of the congregants and to be able to have a personal influence on their religious growth. Federation synagogues arrange a large number of education and social programmes and members are given every opportunity not only to participate but also volunteer in the organisation of synagogal activities. Each synagogue reports on its own activities to its members on an annual basis at its Annual General Meeting as well as through websites, newsletters and magazines. The Federation of Synagogues recognises the importance of sharing the responsibility for the organisation with Head Office and a level of commitment by local boards of management is extremely high. The Federation’s success can be largely measured by its ability to attract new members to its synagogues and new synagogues to join the organisation.

ACHIEVEMENTS AND PERFORMANCE

In 2021 a number of key events took place at the Federation. For the purpose of this report, these have been grouped under the headings of Communities, Burial Society, Kashrus & Beis Din, Finance & Head Office, and Projects.

COMMUNITIES

The Trustees have worked closely with all communities to support their development at whichever point they find themselves. Newcomers and notable projects include:

• Dvash – an outreach minyan in Borehamwood, joined as an Affiliate at the July 2021 Council meeting.

• Finchley Fed (previously known as Finchley Central) held a successful fundraising campaign and subsequently began a major refurbishment of the premises they have occupied since 2014.

• KNY in Edgware held a successfully fundraising campaign with the goal of doing a major refurbishment of 207-209 Hale Lane (previously the Edgware Torah Centre).

BURIAL SOCIETY

The Burial Society has gone through some significant changes as follows:

• The new cemetery in Edgware opened in July 2021 with the first burials taking place shortly after.

• To coincide with the opening of the new cemetery, the Burial Society ran a membership drive in the second half of 2021, with those aged between 30 and 50 years old incentivised to join before the youngest age at which joining fees are charged changed from 50 to 30.

BEIS DIN & KASHRUS

• The Federation Beis Din, led on this issue by Dayan Hool, liaised with government ministers and senior civil servants regarding draft legislation that could potentially impact the validity of certain Gets.

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FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCE & HEAD OFFICE

• In December 2021 we held a successful matched fundraising campaign for Kehilla Services, with Head Office as the matcher. Our goal for the campaign was set at £180,000 and we ultimately reached £200,000 (nearly £100,000 of newly raised funds).

• A new annual “Affiliate Shul fee” was agreed at Council -to be introduced in 2022 - for Affiliate Shuls to contribute to Head Office costs. The Shuls have been categorised as small, medium and large and pay different levels of fees accordingly.

• Planning permission has been secured to build 4 flats on land adjacent to Nelson Street Shul in East London and we will go to tender in 2022.

• Head office ran separate training sessions for Shul representatives on GDPR and Safeguarding compliance.

PROJECTS

• A new project – Shemitta Live – was launched for the current Shemitta year, which advises on the permissibility of purchase and use of Israeli produce in real time, as it changes during the year.

• Rabbi Zimmerman now gives regular shiurim in Northwest London on a variety of topics including Parsha, Pirkei Ovos and contemporary halachic issues.

• Our Shailatext, Maasertext, Sheimos L’Geniza and Fedtech services continued to thrive, all increasing in number of users during the year. Shailatext is now used reqularly by over 8,000 individual users.

Public Benefit

The trustees confirm that they have had due regard to the guidance published by the Charity Commission. The benefit to the public is manifestly demonstrated by the achievements contained in this report.

FINANCIAL REVIEW

The financial position of the charity and its subsidiaries was strong during the year. Assets available were sufficient to fulfil its obligations and permit the charity to continue in operation in the medium term, given the continued support of the Constituent synagogues.

The group shared net assets of £28,512,235 (2020 £28,311,114). The Federation had a surplus of £211,452 (2020 £414,610 - deficit).

Policy on reserves

At the year-end there are no free reserves (2020 £nil). This includes creditors due in more than one year which relate to mortgages secured on fixed assets which amount to £2,784,804 (2020 £2,892,769). It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which provides sufficient resources to fund the charitable commitments and the cost of management and administration. The Trustees carefully monitor the reserves of the charity and when considering their adequacy, they take into consideration that a large proportion of liabilities are longer term.

There are no restrictions on the power of the charity to invest. The trust deed authorises the trustees to make and hold investments using the general funds of the charity.

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FEDERATION OF SYNAGOGUES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

PLANS FOR FUTURE PERIODS

Moving forward the Trustees of the Federation plan to further their aims of repositioning the Federation as the powerhouse of Orthodoxy in the United Kingdom. Their long-term goals include:

• Increasing the income and profit from KFSS, particularly from licensing food production factories and Shechita.

• Increasing service of and engagement with members of UK Orthodox community via its many ‘Kehilla Services’ such as Shailatext, Maasertext and FedTech.

• Investment in current and new synagogues both in London and Manchester.

These Financial Statements show that the organisation has strength in depth and, throughout the year under review, the Trustees together with the Chief Executive, have continued to exercise due diligence in order to reduce overheads and counter the negative effects of the difficult economic conditions.

COVID-19

The Trustees have given due consideration to the uncertainty caused by Covid-19 and are confident that the charity has sufficient resources available to deal with its financial impact.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 21 October 2022 and signed on their behalf by:

A. S. Cohen, President L. Newmark, Treasurer

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FEDERATION OF SYNAGOGUES

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FEDERATION OF SYNAGOGUES (CONTINUED)

Opinion

We have audited the financial statements of Federation of Synagogues (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2021 which comprise the Consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charity's affairs as at 31 December 2021 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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FEDERATION OF SYNAGOGUES

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FEDERATION OF SYNAGOGUES (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or

• the parent Charity has not kept sufficient accounting records; or

• the parent Charity financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design

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FEDERATION OF SYNAGOGUES

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FEDERATION OF SYNAGOGUES (CONTINUED)

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations - this responsibility lies with management with the oversight of the directors.

The extent to which our procedures can detect irregularities, including fraud, is detailed below.

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with management (as required by auditing standards).

• We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

• Except for any known or possible non-compliance, and as required by auditing standards, our work in respect of these included enquiry of management about company's policies, procedures, and related controls regarding compliance with laws and regulations and if there are any known instances of noncompliance

.

• We tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

• We performed analytical procedures to identify any unusual or unexpected relationships.

• We reviewed the minutes of the meetings of the Board of Trustees.

• We examined supporting documents for all material balances, transactions and disclosures.

• We evaluated the selection and application of accounting policies related to subjective measurements and complex transactions.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

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FEDERATION OF SYNAGOGUES

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FEDERATION OF SYNAGOGUES (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Landau Morley LLP

325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Date: 21 October 2022

Landau Morley LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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FEDERATION OF SYNAGOGUES

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Incoming from: Donations and legacies Charitable activities Other trading activities Investments Other income Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net gains/(losses) on investments Net income/(expenditure) before taxation Taxation Net income/(expenditure) after taxation Transfer between funds NET MOVEMENT IN FUNDS FUNDS, brought forward FUNDS, carried forward	Notes	Unrestricted Funds £ 1,193,364 554,809 1,837,447 306,408 300,592	Unrestricted Funds £ 1,193,364 554,809 1,837,447 306,408 300,592	Restricted Funds £ 393,754 - - - -	Restricted Funds £ 393,754 - - - -	Total 2021 £ 1,587,118 554,809 1,837,447 306,408 300,592	Total 2020 £ 1,161,131 374,808 1,851,867 307,372 235,132
	3 4 5 6 7 8 9 15 22
			4,192,620		393,754	4,586,374	3,930,310
			1,978,206 2,297,462		- 115,138	1,978,206 2,412,600	2,445,580 2,265,168
			4,275,668		115,138	4,390,806	4,710,748
			(83,048) -		278,616 -	195,568 -	(780,438) (90,000)
			(83,048) 5,553		278,616 -	195,568 5,553	(870,438) 49,099
			(77,495) 157,079		278,616 (157,079)	201,121 -	(821,339) -
			79,584 26,309,105	121,537 2,002,009		201,121 28,311,114	(821,339) 29,132,453
			26,388,689	2,123,546		28,512,235	28,311,114

The notes on pages 15 to 36 form part of these financial statements.

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FEDERATION OF SYNAGOGUES

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2021

FIXED ASSETS Tangible assets Investment property CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS: amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: amounts falling due after one year NET ASSETS FUNDS Restricted funds Unrestricted funds - general fund - Revaluation Reserve	Notes 2021 2020 £ £ £ £ 16 27,731,544 26,386,349 17 1,900,000 1,900,000 29,631,544 28,286,349 18 721,439 879,919 3,533,364 3,499,088 4,254,803 4,379,007 19 (2,589,308) (1,461,473) 1,665,495 2,917,534 31,297,039 31,203,883 20 (2,784,804) (2,892,769) 28,512,235 28,311,114 21 2,123,546 2,002,009 21 26,242,338 26,162,754 21 146,351 26,388,689 146,351 26,309,105 28,512,235 28,311,114	Notes 2021 2020 £ £ £ £ 16 27,731,544 26,386,349 17 1,900,000 1,900,000 29,631,544 28,286,349 18 721,439 879,919 3,533,364 3,499,088 4,254,803 4,379,007 19 (2,589,308) (1,461,473) 1,665,495 2,917,534 31,297,039 31,203,883 20 (2,784,804) (2,892,769) 28,512,235 28,311,114 21 2,123,546 2,002,009 21 26,242,338 26,162,754 21 146,351 26,388,689 146,351 26,309,105 28,512,235 28,311,114
	16 17 18 19 20 21 21 21
		31,203,883 (2,892,769)
		28,311,114 2,002,009 26,309,105
		28,311,114

The financial statements were approved and authorised for issue by the Trustees on 21 October 2022 and signed on their behalf by:

A.S Cohen L Newmark

Trustee Trustee

The notes on pages 15 to 36 form part of these financial statements.

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FEDERATION OF SYNAGOGUES

CHARITY BALANCE SHEET AS AT 31 DECEMBER 2021

Notes FIXED ASSETS Tangible assets 16 Investment property 17 CURRENT ASSETS Debtors 18 Cash at bank and in hand CREDITORS: amounts falling due within one year 19 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: amounts falling due after one year 20 NET ASSETS FUNDS Restricted funds 21 Unrestricted funds - General fund 21 - Revaluation Reserve 21	Notes	2021 £ 27,718,895 500,000 3,422,421 2,938,074 6,360,495 (2,266,793) 26,751,992 399,303	2020 £ £ 26,380,436 500,000 28,218,895 3,352,623 3,120,911 6,473,534 (1,144,860) 4,093,702 32,312,597 (3,037,756) 29,274,841 2,123,546 26,662,077 399,303 27,151,295 29,274,841	£ 26,880,436 5,328,674
				32,209,110 (3,145,721)
				29,063,389 2,002,009 27,061,380
				29,063,389

The financial statements were approved and authorised for issue by the Trustees on 21 October 2022 and signed on their behalf by:

A.S Cohen L Newmark Trustee Trustee

The notes on pages 15 to 36 form part of these financial statements.

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FEDERATION OF SYNAGOGUES

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Rent from investment properties Purchase of tangible assets Net cash (used in)/provided by investing activities Cash flows from financing activities Repayments of borrowing Cash inflow from new borrowing Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	Notes 24	2021 £ 1,200,874 305,028 (1,364,593) (1,059,565) (107,033) - (107,033) 34,276 3,499,088 3,533,364	2020 £ (357,629)
			298,566 (3,611,515)
			(3,312,949)
			(58,488) -
			(58,488)
			(3,729,066) 7,228,154
			3,499,088

The notes on pages 15 to 36 form part of these financial statements

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. General information

The charity is registered in England and Wales and is unincorporated. The address of the principal office is 65 Watford Way, Hendon, London NW4 3AQ.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Federation of Synagogues meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Group and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line-by-line basis.

2.2 Going concern

At the time of approving the Financial Statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the Financial Statements.

The Trustees have given due consideration to the impact of Covid-19, and having produced financial forecasts up to the end of 2023, they are confident that the charity has sufficient resources available to deal with its financial impact and can meet its financial liabilities for the foreseeable future as and when they fall due.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is

recognised at the time of the donation.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the consolidated statement of financial activities as the related expenditure is incurred.

2.6 Research and development

Research and development expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

No amortisation has been provided on freehold land and buildings and long leaseholds as the assets are kept in good repair and their useful lives and estimated residual values are such that depreciation is not material. Assets are reviewed annually for any impairment. The trustees are of the opinion that the recoverable amount is in excess of the carrying amount and feel that no provision for impairment is required.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Motor vehicles - 25% straight line - Equipment 25% straight line

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the consolidated statement of financial activities as a finance cost.

2.12 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.15 Affiliated synagogues

The Charity does not exercise day to day control of Affiliated Synagogues and, therefore, the results of these entities, their assets and liabilities are not consolidated.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Income from donations and legacies

Synagogue membership Federation dues Other synagogue income including donations Synagogue membership Federation dues Other synagogue income including donations	Unrestricted Funds £ 358,265 247,716 587,383 1,193,364 Unrestricted Funds £ 377,333 182,960 564,352 1,124,645	Restricted Funds £ - - 393,754 393,754 Restricted Funds £ - - 36,486 36,486		Total 2021 £ 358,265 247,716 981,137
			1,587,118 Total 2020 £ 377,333 182,960 600,838
			1,161,131

4. Income from charitable activities

Burial Society Beth Din Burial Society Beth Din	Unrestricted Funds £ 467,507 87,302 554,809 Unrestricted Funds £ 305,570 69,238 374,808		Total 2021 £ 467,507 87,302
			554,809 Total 2020 £ 305,570 69,238
			374,808

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

.

5. Income from other trading activities

Kashrus licensing Kashrus licensing 6.Investment income Rental income Interest receivable Rental income Interest receivable	Unrestricted Funds £ 1,837,447 1,837,447 Unrestricted Funds £ 1,851,867 1,851,867 Unrestricted Funds £ 305,028 1,380 306,408 Unrestricted Funds £ 298,566 8,806 307,372		Total 2021 £ 1,837,447 1,837,447 Total 2020 £ 1,851,867 1,851,867 Total 2021 £ 305,028 1,380	Total 2021 £ 1,837,447 1,837,447 Total 2020 £ 1,851,867 1,851,867 Total 2021 £ 305,028 1,380
				306,408 Total 2020 £ 298,566 8,806
				307,372

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

.

7. Other incoming resources

7. Other incoming resources
Other property income Coronavirus job retention scheme grant Coronavirus job retention scheme grant 8. Expenditure on raising funds Kashrus licensing Investment management costs Staff costs Depreciation, amortisation and impairment Kashrus licensing Investment management costs Staff costs Depreciation, amortisation and impairment	Unrestricted Funds £ 20,586 280,006 300,592 Unrestricted Funds £ 235,132 235,132 Unrestricted Funds £ 1,186,827 37,413 750,448 3,518 1,978,206 Unrestricted Funds £ 1,382,837 20,693 749,708 292,342 2,445,580		Total 2021 £ - 280,006
			280,006 Total 2020 £ 235,132
		235,132 Total 2021 £ 1,186,827 37,413 750,448 3,518
		1,978,206 Total 2020 £ 1,382,837 20,693 749,708 292,342
		2,445,580

8. Expenditure on raising funds

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

.

9. Analysis of expenditure on charitable activities

Summary by fund type Burial Society Beth Din Synagogues Other grants payable	Unrestricted Funds £ 454,080 477,476 1,359,756 6,150 2,297,462	Restricted Funds £ - - 115,138 - 115,138	Total 2021 £ 454,080 477,476 1,474,894 6,150
			2,412,600

Summary by fund type Burial Society Beth Din Synagogues Other grants payable	Unrestricted Funds £ 441,093 542,665 1,249,599 27,094 2,260,451	Restricted Funds £ - - 4,717 - 4,717	Total 2020 £ 441,093 542,665 1,254,316 27,094
			2,265,168

Summary by expenditure type

Summary by expenditure type
Burial Society Beth Din Synagogues Other grants payable Summary by expenditure type Burial Society Beth Din Synagogues Other grants payable		Staff costs £ 235,929 393,638 649,124 - 1,278,691 Staff costs £ 218,903 435,473 510,240 - 1,164,616		Depreciation £ 3,771 1,404 10,704 - 15,879 Depreciation £ 2,258 3,737 16,441 - 22,436		Other cost £ 214,380 82,434 815,066 6,150 1,118,030 Other cost £ 219,932 103,455 727,635 27,094 1,078,116	Total 2021 £ 454,080 477,476 1,474,894 6,150
							2,412,600 Total 2020 £ 441,093 542,665 1,254,316 27,094
							2,265,168

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. Analysis of expenditure by activities

10. Analysis of expenditure by activities
Burial Society Beth Din Synagogues Other grants payable Burial Society Beth Din Synagogues Other grants payable Analysis of direct costs Staff costs Depreciation Other costs Staff costs Depreciation Other costs	Activities undertaken directly £ 404,040 427,436 1,043,623 - 1,875,099 Activities undertaken directly £ 394,157 495,728 841,237 - 1,731,122 Burial Society £ 203,499 3,771 196,770 404,040 Burial Society £ 188,639 2,258 203,260 394,157	Grant funding of activities £ - - 4,450 1,700 6,150 Grant funding of activities £ - - - 27,094 27,094 Beth Din £ 361,208 1,404 64,824 427,436 Beth Din £ 405,209 3,737 86,782 495,728		Support cost £ 50,040 50,040 426,821 - 526,901 Support cost £ 46,936 46,937 413,079 - 506,952 Synagogues £ 439,618 10,704 593,301 1,043,623 Synagogues £ 329,657 16,441 495,139 841,237	Total 2021 £ 454,080 477,476 1,474,894 1,700
					2,408,150 Total 2020 £ 441,093 542,665 1,254,316 27,094
					2,265,168 Total 2021 £ 1,004,325 15,879 854,895
					1,875,099 Total 2020 £ 923,505 22,436 785,181
					1,731,122

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. Analysis of expenditure by activities (continued)

Analysis of support costs Staff costs Other costs Staff costs Other costs		Burial Society £ 32,430 17,610 50,040 Burial Society £ 30,263 16,673 46,936		Beth Din £ 32,430 17,610 50,040 Beth Din £ 30,264 16,673 46,937		Synagogues £ 209,506 217,315 426,821 Synagogues £ 180,583 232,496 413,079	Total 2021 £ 274,366 252,535
							526,901 Total 2020 £ 241,110 265,842
							506,952

11. Analysis of grants

Grants to institutions Grants to institutions Name of institution The Hendon Families Synagogue Limited Milah UK Initiation Society Other grants < £5,000

Institutional grants are made to institutions which share the same objectives and ethos as the charity and contribute to further communal development.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Auditors’ remuneration

12. Auditors’ remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual accounts Fees payable to the Charity's auditor in respect of: The auditing of the accounts of the subsidiaries of the Charity All non-audit services not included above 13. Staff costs Group 2021 2020 £ £ Wages and salaries 1,781,440 1,720,671 Social security costs 156,840 132,814 Redundancy 60,000 - Contribution to defined contribution pension schemes 30,859 60,839 2,029,139 1,914,324			2021 £ 23,579 17,475 5,465 2021 £ 1,142,566 114,034 - 22,091	Charity				2020 £ 17,375 9,850 1,775
						2020 £ 1,031,455 83,393 - 49,768
			1,278,691			1,164,616

13. Staff costs

The average number of persons employed by the Charity during the year was as follows:

Synagogues Burial Society Beth Din Kashrus Administration		Group No. 2021 26 8 11 22 9 76	Group No. 2021 26 8 11 22 9 76	2020 25 8 12 22 10
				77

In the band £60,001 - £70,000 In the band £70,001 - £80,000 In the band £80,001 - £90,000	2021	Group No. 3 - 2	2020 2 1 2

The key management personnel of the charity comprise the Chief Executive. The total employee benefits of the key management personnel of the Charity were £106,772 (2020 £95,542).

Of the employees whose emoluments exceed £60,000, five (2020 five) have retirement benefits accruing under defined contribution pension schemes, totalling £14,593 (2020 £32,270).

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 £NIL). During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 £NIL).

15. Taxation

15. Taxation
Corporation tax Current tax on net income/(expenditure) for the year Taxation on net income/(expenditure)		2021 £ (5,553) (5,553)	2020 £ (49,009)
			(49,009)

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Tangible fixed assets

Group NET BOOK VALUES Freehold property Motor vehicles Office equipment MOVEMENTS IN YEAR Cost Freehold property Motor vehicles Office equipment Depreciation Freehold property Motor vehicles Office equipment Charity NET BOOK VALUES Freehold property Motor vehicles Office equipment MOVEMENTS IN YEAR Cost Freehold property Motor vehicles Office equipment Depreciation Freehold property Motor vehicles Office equipment		Opening Balances £ 26,363,890 30,609 306,097 26,700,596 Opening Balances £ - 27,212 287,035 314,247 Opening Balances £ 26,363,890 24,959 251,933 26,640,782 Opening Balances £ - 21,562 238,784 260,346		Additions £ 1,327,514 - 37,079 1,364,593 Charge For Year £ - 2,201 17,197 19,398 Additions £ 1,327,514 - 26,824 1,354,338 Charge For Year £ - 2,201 13,678 15,879		2021 £ 27,691,404 1,196 38,944 27,731,544 Disposals £ - - - - Disposals £ - - - - 2021 £ 27,691,404 1,196 26,295 27,718,895 Disposals £ - - - - Disposals £ - - - -		2020 £ 26,363,890 3,397 19,062
								26,386,349 Closing Balances £ 27,691,404 30,609 343,176
								28,065,189 Closing Balances £ - 29,413 304,232
								333,645 2020 £ 26,363,890 3,397 13,149
								26,380,436 Closing Balances £ 27,691,404 24,959 278,757
								27,995,120 Closing Balances £ - 23,763 252,462
								276,225

All the assets are used for charitable purposes.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Investment property Freehold investment property. Valuation At 1 January 2021 and 31 December 2021	Group 2021 £ 1,900,000		Charity 2021 £ 500,000

The investment property of the subsidiary was valued in 2021 at fair value by an independent valuer holding a recognised and relevant qualification with recent experience in the location and class of the property being valued. The investment property of the parent was revalued by the trustees on a fair value basis as at 31 December 2021.

The historical cost of the properties above was £1,753,649 (2020 £1,753,649).

18. Debtors

18. Debtors
		Group			Charity
Due after more than one year	2021		2020	2021		2020
	£		£	£		£
Amounts owed by group undertakings	-		-	1,603,737		1,603,737
	-		-	1,603,737		1,603,737
Due within one year
Trade debtors	447,509		562,056	-		-
Amounts owed by group undertakings	-		-	1,610,267		1,579,446
Other debtors	208,417		169,440	208,417		169,440
Prepayments and accrued income	7,461		41,636	-		-
Tax recoverable	58,052		106,787	-		-
	721,439		879,919	3,422,421		3,352,623

The charity loaned the sum of £1,657,568 to Watford Way Investments Limited to purchase the investment property in 2006. The loan is secured by a fixed and floating charge over the assets of the company (including property). The loan facility is for a period of 25 years. This loan is included within long term debtors to reflect the fact that the loan is not considered to be recoverable within the 12 months following the year end.

As at 31 December 2021, there is a provision of £252,952 (2020 £252,952) against this loan in order to offset the reduction in value of the property. This is included in creditors due after more than one year.

As at the balance sheet date, the balance outstanding on this loan was £1,603,737 (2020 £1,603,737).

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

19. Creditors: Amounts falling due within one year

Bank Loans Trade creditors Other taxation and social security Other Creditors Accruals and deferred income	Group 2021 2020 £ £ 107,033 106,101 152,470 106,723 126,092 138,664 2,105,317 777,798 98,396 332,187 2,589,308 1,461,473	Charity 2021 2020 £ £ 107,033 106,101 75,295 60,644 29,576 33,796 1,991,207 650,181 63,682 294,138 2,266,793 1,144,860	Charity 2021 2020 £ £ 107,033 106,101 75,295 60,644 29,576 33,796 1,991,207 650,181 63,682 294,138 2,266,793 1,144,860
			1,144,860

Bank loans are secured on the respective properties for which the financing was provided.

20. Creditors: Amounts falling due after more than one year

Bank Loans Provision against group debtor	Group 2021 2020 £ £ 2,784,804 2,892,769 - - 2,784,804 2,892,769	Charity 2021 2020 £ £ 2,784,804 2,892,769 252,952 252,952 3,037,756 3,145,721	Charity 2021 2020 £ £ 2,784,804 2,892,769 252,952 252,952 3,037,756 3,145,721
			3,145,721

Bank loans are secured on the respective properties for which the financing was provided.

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

21. Statement of funds

Statement of funds - current year Unrestricted funds General fund Revaluation reserve Restricted funds Proceeds from sale of synagogues (Federation of Synagogues formerly Amalgamated Fund) Philpot Street Sphardish Synagogue Designated Synagogue funds Total of funds		Balance as at 01.01.2021 £ 26,162,754 146,351 26,309,105 1,100,006 562,843 339,160 2,002,009 28,311,114		Income £ 4,192,620 - 4,192,620 - - 393,754 393,754 4,586,374		Expenditure £ (4,275,668) - (4,275,668) - - (115,138) (115,138) (4,390,806)		Taxation £ 5,553 - 5,553 - - - - 5,553	Transfers in/(out) £ 157,079 - 157,079 - - (157,079) (157,079) -		Gains/ (Losses) £ - - - - - - - -	Balance as at 31.12.2021 £ 26,242,338 146,351
												26,388,689 1,100,006 562,843 460,697
												2,123,546 28,512,235

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

21. Statement of funds (continued)

Statement of funds - prior year Unrestricted funds General fund Revaluation reserve Restricted funds Proceeds from sale of synagogues (Federation of Synagogues formerly Amalgamated Fund) Philpot Street Sphardish Synagogue Designated Synagogue funds Total of funds		Balance as at 01.01.2020 £ 26,915,533 236,351 27,151,884 1,100,006 562,843 317,720 1,980,569 29,132,453		Income £ 3,893,824 - 3,893,824 - - 36,486 36,486 3,930,310		Expenditure £ (4,706,031) - (4,706,031) - - (4,717) (4,717) (4,710,748)		Taxation £ 49,099 - 49,099 - - - - 49,099	Transfers in/(out) £ 10,329 - 10,329 - - (10,329) (10,329) -		Gains/ (Losses) £ - (90,000) (90,000) - - - - (90,000)	Balance as at 31.12.2020 £ 26,162,754 146,351
												26,309,105 1,100,006 562,843 339,160
												2,002,009 28,311,114

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

21. Statement of funds (continued)

The restricted fund represents the proceeds from the sale of four synagogues (Alie Street, Vine Court, Canning Town and Philpot Street Sphardish).

The Federation of Synagogues (Former Synagogues and other sites amalgamated fund), charity number 1084833 is governed by a Scheme of the Commissioners dated 19 December 2000. The objects of the charity are the advancement of the religious and other charitable purposes of the Federation and the advancement of the general purposes of the Federation within the area of London falling within the London Orbital Motorway (M25).

The Philpot Street Sphardish Synagogue Fund, charity number 260871, is governed by a scheme dated 17 May 2006. The objects are the provision of a place of worship for the congregation of the East London Central Synagogue, its upkeep and maintenance of services. If insofar as the income is not required for those purposes it shall be applied for the general purposes of the Federation of Synagogues.

The Designated synagogues funds are collections from the individual shuls to be used for specific projects

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

22. Summary of funds

22. Summary of funds
Summary of funds - current year General fund Restricted funds Summary of funds - prior year General fund Restricted funds		Balance as at 01.01.2021 £ 26,309,105 2,002,009 28,311,114 Balance as at 01.01.2020 £ 27,151,884 1,980,569 29,132,453		Income £ 4,192,620 393,754 4,586,374 Income £ 3,893,824 36,486 3,930,310		Expenditure £ (4,275,668) (115,138) (4,390,806) Expenditure £ (4,706,031) (4,717) (4,710,748)		Taxation £ 5,553 - 5,553 Taxation £ 49,099 - 49,099	Transfers in/(out) £ 157,079 (157,079) - Transfers in/(out) £ 10,329 (10,329) -		Gains/ (Losses) £ - - - Gains/ (Losses) £ (90,000) - (90,000)	Balance as at 31.12.2021 £ 26,388,689 2,123,546
												28,512,235 Balance as at 31.12.2020 £ 26,309,105 2,002,009
												28,311,114

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

23. Analysis of net assets between funds

Analysis of net assets between funds Fixed assets Net current assets / (liabilities) Creditors due after more than one year Analysis of net assets between funds Fixed assets Net current assets / (liabilities) Creditors due after more than one year	- current year Unrestricted £ 28,011,848 1,161,645 (2,784,804)	- current year Unrestricted £ 28,011,848 1,161,645 (2,784,804)	Restricted	Group Total £ 29,631,544 1,665,495 (2,784,804)	Unrestricted £ 26,599,199 3,589,852 (3,037,756)		Restricted	Charity Total £ 28,218,895 4,093,702 (3,037,756)
			£ 1,619,696 503,850 -				£ 1,619,696 503,850 -
	26,388,689 - prior year Unrestricted £ 26,666,653 2,535,221 (2,892,769)		2,123,546 Restricted	28,512,235 Group Total £ 28,286,349 2,917,534 (2,892,769)	27,151,295 Unrestricted £ 25,260,740 4,946,361 (3,145,721)		2,123,546 Restricted	29,274,841 Charity Total £ 26,880,436 5,328,674 (3,145,721)
			£ 1,619,696 382,313 -				£ 1,619,696 382,313 -
	26,309,105		2,002,009	28,311,114	27,061,380		2,002,009	29,063,389

24. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the period (as per Statement of Financial Activities) Adjusted for: Depreciation charges Amortisation charges Less rent received on investment property Loss/(Gains) on investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash used in operating activities	Group 2021 2020 £ £ 201,121 (821,339) 19,398 28,823 - 285,955 (305,028) (298,566) - 90,000 158,480 (48,972) 1,126,903 406,470 1,200,874 (357,629)	Group 2021 2020 £ £ 201,121 (821,339) 19,398 28,823 - 285,955 (305,028) (298,566) - 90,000 158,480 (48,972) 1,126,903 406,470 1,200,874 (357,629)
		(357,629)

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

25. Analysis of cash and cash equivalents

Cash in hand Total cash and cash equivalents	2021 £ 3,533,364 3,533,364	Group	2020 £ 3,499,088
			3,499,088

26. Analysis of changes in net debt

Cash at bank and in hand Debt due within 1 year Debt due after 1 year		Balance as at 01.01.2021 £ 3,499,088 (106,101) (2,892,769) 500,218		Cash flows £ 34,276 (932) 107,965 141,309		Balance as at 31.12.2021 £ 3,533,364 (107,033) (2,784,804)
						641,527

27. Capital commitments

At the year end, the charity had capital commitments of £305,272 (2020 £590,163) in respect of contracted building works.

29. Related party transactions

During the year, a company connected with one of the Trustees provided cleaning services to Kosher Foods Supervisory Services Ltd, a subsidiary of the charity. The company was paid £6,784 (2020 £5,857). There are no outstanding balances owing between related parties and the Charity at 31 December 2021.

29. Controlling party

The charity is under the control of the trustees. The Federation of Synagogues Trust Corporation Limited (Company number 03327382) holds a number of the properties of the Federation of Synagogues as a nominee. This is to avoid the need to transfer title to the Federation's properties when there are changes in the trustees. This company was dormant in the year.

The relevant figures for the single entity charity Federation of Synagogues are:

Total income and gains £2,616,054 (2020 £1,940,560)

Total expenditure £2,404,602 (2020 £2,355,170)

Net movement in funds £211,452 (2020 £414,610 - deficit)

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FEDERATION OF SYNAGOGUES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

30. Principal subsidiaries

The following were subsidiary undertakings of the Charity:

	Company
Names	Number	Control by the Charity
Kosher Foods Supervisory services Limited	04138362	100%
Watford Way Investments Limited	05777108	100%

The subsidiary companies noted above are limited by guarantee without share capital. Their registered office address in England and Wales is 65 Watford Way, London, NW4 3AQ.

The financial results of the subsidiaries for the year were:

			Profit/(Loss)/
			Surplus/
			(deficit) for
Names	Income	Expenditure	the year	Net assets
	£	£	£	£
Kosher Foods Supervisory services Limited	1,925,539	(1,940,793)	(15,254)	(761,274)
Watford Way Investments Limited	76,861	(77,488)	(627)	(254,282)

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