KOL CHAI HATCH END REFORM JEWISH COMMUNITY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 CHARITY NO.: 299063 KOL CHAI HATCH END REFORM JEWISH COMMUNITY 434 Uxbrldge Road Hatch End Pinner Middle3ex HA5 4RG
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated ¢harityl REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021 CONTENTS Page Trustees, Report Independent Examiner's Report Summary of Restricted Funds Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-13
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2021 The trustees present their report and accounts for the year ended 31 May 2021. Objects and Organisation of the Charfty and Prln¢ipal Activities Kol Chai Hatch End Reform Jewish Community is a charity established under a charitsble trust and is governed by ils con51ilution. The objects of the charity are as defined by Ils constitution and its principal activity is that of a synagogue and Jewish eommunity. In particular, there Is an emphasis on the educational work of the community- The charity is organised and administered by its elected management committee and executive officeTS. The management committee meets each month The executive officers, In addition to attending the management committee meetings, also meet separately, once a month. The trustees li.e. the management committee members) have considered the major nsks lo which the charity is exposed. Public B•noflt The charity's trustees have had due regard to the Charity Commission's public benefit guidance. The main objectives of the charity are the promotion, preservation and observance of Jewish Iradilion. and these are set lo reflect our faith and community aims The focus ol our activities is Ihe provision of plots and burial rites In accordance with Iradilion. and arranging communal events and aclivilies. Dovgloprnent, Actlvltles and Achiovoments this Yoar Kol Chai Hatch End Refotm Jewish Community continues to develop the breadth and depth of activities {SprItUal and non-spirituall that il offer5 members. The educational, social and other charitable works of the charity have conlinue(J lo be pursued, although some activities have been curtailed in the year as a result of the covid pandemic. Balance Shoot and Stotem9nt of Financial Activttigs The Statement of Financial A¢tivitie5 shows Ih8t for the year to 31 May 2021 the charity recorded deficit of £1,132 12020." a surplus of £15,978). In addition, as a result of donations for the building fund and associated Gift Aid income, the capiial reserve Increased by £74.542. In accordance with our long established charitable principles, we have continuecl this year to raise money for our own trust funds and to collect for the benefit of outside charities. Our balance sheet continues lo show a healthy level of nel assets of £591.92312020.. £516,440). In order to avoid any unnecessary bank interest and charges, the main operating bank aGcounl of the community holds both reslricled and unrestricted funds. Subsequent Ev?nts The refurbishment work and small extension in relation lo our synagogue building, referred to in the previous year's accounts, were commenced in the year ended 31 May 2021 and have been completed subsequent to the year-end. As part of these works. certain items of kitchen and other èquipment have beÈn rèplaced. In the year ended 31 May 2021. Cifca £134.000 was spent on the building and circa £25,000 on equipment. A further circa £103,000 has been Spent subsequent to the yearend. Page I
KOL CHAI HATCH END REFORM JEWISH COMMUNITY IAn unincorporated charity) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2021 The works have been financed by a MbinatIon of bank borrowing5, donations from our members, and our own resources. In addition lo bank borrowings of about £40,000 in May 2021, further such borrowings of circa £139,000 have been made subsequent lo the year-end. Donations from our members, together with the associate¢ Gift Aid receipts, tolalling circa £75,000 were received prior lo 31 May 2021 with a further circa £10,000 committed after that date. Available Funds and Re8eNes On th8 basis that membership numbers remain at least at the current level. and donations and fundraising efforts oonlinue to provide suitable lund5. the year ahead should enable the community lo operate within available resources in relation to our ongoing activities and to service our bank108n. It is the Gommunily's policy lo keep ils funds on a low risk basis in aeeounls of high street banks. The fvnd5 represented by reserves held for specific purposes are similarly held. Whilst the ageing demographics of members means that membership Income may decline over the Goming years, the Iruslees continue lo look at way5 of Introducing new members. Our balance sheet continues lo show a salisfaclory nel essel position. and we Should be able lo settle bills during the perK)d of al least 12 months tollowing the approval ol the accounts. Rlsk The major risk to the ctsmmunity is if membership income does not cover its expenditure. For this reason. the trustees continue to keep careful control over expenditure. The trustees endeavour lo set subscriptions al a realistic level sufficient lo meet routine expenditure. When selling membership subsGriplion levels, the Iruslees also tiear in mind that many members are on low fixed incomes, and accordingly reduc110ns In the level of subscriptions are agreed in some cases. The treasurer monitors the Cash resources of the community on a regular basis lo ensure that bona fide expenditure can be sgttlad on a prompt basis. As a result of the covid pandemic. certain fund raising a1VIlieS that would otherwise have taken place have had lo be curtailed and although some activities have continued online, fund raising revenues have decreased to some extent. Volunteers The charity benefits from the substantial use of the services of volunteers, many of whom are trustees Trustoes The honorary officers as defined in the conslitulion. together with the other members of the management committee, are also the trustees of the charity. There are no other trustees. The Iruslees who served during any part of the year we". Page 2
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2021 The trustees are elected by the members of the Gornmunity at the annual general meeting. In the event of any ol Imese offices not being filled at the annLJal general meeting or falling vacani dLJring the year, the management committee may appoint a suitable membèr Its hold offic8 until th8 néxt annual general meeting. No payments have been made to the trustees in respect of services provided to the charity. Statement of the Trustees. Re8ponsitsllitios The trustee5 arè rèquired by law lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charily and Ils results for that period. In preparing those financial statements. the Iruslees are required lo.'- Select suitable accounting policies and apply them eonsistently. Make judgements and estimates that are reasonable and prudent. Prepare the financ1al statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for keeping proper accountin9 rocords which disclose with reasonable accuracy al any lime the financial position of the charity. They are also responsible for saleguar(Iing the assets of the charY and hence for taking reasonable steps ft)r the pventIon and detection of fraud and other irregularities. The accounts have been preparecl in accordance with the accounting policies set out in note 1 to the accounts and comply with the synagogue's conslilulion and The Charities (Accounts and Reports) Regulations 2008. Approval This report was approved by the Iruslees on 2 711( **L7A 2Jd2 and signed on their behalf. Pa8e 3
Independent Examiner's Report to the Trustees of Kol Chai Hatch End Jewish Community I report to the trustees on my examinab'on of the accounts of the charity, set out on pages 5 10 13, for the year ended 31 May 2021. Responslbilitigs and basis of report As the charity's Iruslees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1"the Act l. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and ln carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent Examlner's statgmgnt The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants In England and Wales. I have completed my examination. I confirm that no material matters have ¢ome lo my attention in connectson with the examination which gives me cause to believe that. in any material respect. the accountin9 records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records". or the accounts did not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf, view which Is not a matter considered as part of an independent examination I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understanding of the accounts lo be reached. Br an Mulderrig Independent Examlnor JO>L Gittins Mulderrig Chartered Accountants Reglstered Auditors 6 Hlgh Street Northwood Middlesex HA6 1BN Page 4
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KOL CHAI HATCH END REFORM JEWISH COMMUNITY IAJ) urtincorporated charity) 8ALANCE SHEET AS AT 31 MAY 2021 NOTES 2021 2020 FIXED ASSETS Land and building5 FixtUTes. fitting5 and 8quipm8nt 567.579 23.943 443.648 6.594 591.522 450,242 CURRENT ASSETS Debtors and prepaymonts Bank 8nd cash balance5 26.g80 29.176 58.156 13,966 66,405 80,371 CREDITORS ATnounts fallin9 due within one year 17.256 14,173 NETCURRENT ASSETS 38,900 630,422 e8.198 Amounts falling dug aft8r moro than one year 38,499 NET ASSETS 591,923 516.44Q Unr•strlct4d Funds Income and expenditUTe account Capital reserve 214,776 359,813 205,428 295.751 574.589 501.179 Rg$trict•d Funds Welfare fund PA fund Educational tW8t fund Rabbi's discrtriionary fund Wcrtd Jewry fund 2,391 866 7,702 6.475 2,391 866 7,702 4,402 -100 10 17,334 591.923 1S.261 516.440 Dalo. Pagé.. 7
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charityl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 ACCOUNTING POLICIES Accounting Convèntlon These accounts have been prepared under the historical convention and in compliance with FRS102. the Financial Reporting Standard applicable in the UK, the Slalemenl of Recommended Practice applicable lo charities, effecb've 1 January 2019, and the Charities Act 2011. Golng ConGgfD The trustees consider that there are no material uncertainties over the charity's ability lo continue operations and accordingly the accounts are prepared on 8 going conTrrn basis. Fund accounting Unreslricled funds are those where there are no exlern311y imposed restrictions and therefore are available for use al Ihe discretion of the Iru5tee5 to further any of the charity's purposes. Restricted funds are subject lo restrictions on their utilisalion declared by the donor or through the terms of an appeal. Incoming resources All income 15 included in the statement of financial activities when entillemenl has passed lo the charity. Resources txpended Expenditure 15 recognised on an accruals basi5 as a liability is incL*rred. Expenditu includes any VAT whi¢h cannot be recovered, and is classified under headings of the statement of financial activities to which Il relates. Tangibl• assets and depreciation The freehold premises comprise the cost of the land and building. The land Is not depreciated.. the building is amortised al 2.10 per annum. Fixtures, fittings and equipment are depreciated at the rale of 25V¢ of net book value per annum. Income tax repaym8nts Income lax repayments on subscriptions and donations are credited lo income and expenditure account only when received, or accrued for only when receipt can be anticipated with reasonable certainty. Page 8
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charityl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 FIXED ASSETS Freehold Prgrn1893 The freehold premises comprise the cost of land and buildings at Woodridings Yard, Hatch End, Pinner. Middlesex, and include legal and professional fees and other associated costs. Land and Bulldlngs 2021 2020 Cost Al the beginning of the year Additions during the year Al the end of the year 627,622 134.411 762,033 622,403 5.219 627,622 Amortlsatlon Al the beginning of the year Charge for the year 183.974 10,480 173.598 10,376 Al the end of the year 194.454 183,974 Net Book Value Al the beginnin9 of the year 443,648 448.805 At the end of the year 567,579 443,648 Flxtures. Ilttlngs and equipment Cost At the beginning of thé year Additions during the year 43,726 25,330 39.658 4.068 At the end of the year 69,056 43,726 Depreciation At the beginning of the year Charge lor the year 37,132 7,981 34.935 2,197 Al the end of the year 45.113 37,132 Net Book Value Al the beginning of the year 6,594 4,723 At the end of the year 23,943 6,594 Page 9
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charilyl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 2021 2020 DEBTORS AND PREPAYMENTS Income tsx repayments Subscriptions and prepayments 16.343 10,637 13.117 26,980 13,966 CREDITORS.. AMOUNT DUE WITHIN ONE YEAR FALLING Taxation and So¢i81 Security Subscription5 8 donations received in advance & accrued expenses Bank loan 1,706 2,504 13.169 2,381 11,669 17,256 14.173 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank103n 38,499 To assist In the financing of the Improvements lo the synagogue building, the community entered into a loan agreement with Kingdom Bank and made its first draw down shortly before 31 May 2021. The facility is up lo a maximum amount of £215,000 repayable over a term of 30 years, ar a rate of 3.95°/o fixed for thE first 5 years of the loan. Page 10
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated Charityl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 5 INCOME AND EXPENDITURE ACCOUNT 2021 2020 SurF*lus brought fotward Surplus for the year 205.428 792 206,220 10.480 216,700 179.074 15,978 195,052 10.376 205,428 Transfer ex Caprtal Reserve (Note 71- Building Amortisalion Surplus carried forward Ex ense5 (see Page 61 Salaries. fees and National Insurance Jewish Joint Burial Society Reform Judaism membership fees 8oard of Deputies fee$ Insurance Printing, postage and sl81ionery lincl. Koleinu} Prayer books Bank charges and interest Building services, maintenance and renewals Sundry expenses Depreciation and amortigation Loan interost Rabbi's expenses Membership of Citizens UK Independent examination of ac¢ounls Computer and database expenses 111.558 22.800 29.230 495 3.358 9,685 103,423 22.435 30,953 495 3,231 6.299 92 3,253 8,834 2,211 12.573 131 2.005 2.000 1,188 2,803 3,855 1,117 1,665 18,461 49 1,628 2.060 1,250 5,169 212,380 201,926 h rDlre Ch Religion School expenses (incl salaries & national insurance) High Holyday services and other religious services 14.518 2,413 15,220 4,757 16.931 19.977 Page,. 11
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated chantyl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 2021 2020 CAPITAL RESERVE Balance brought folward Amortisation on building (note 21 Donations received In ltte year re building works Gift Aid relating to donations re building work3 Bal8n¢e camed forward 295,751 -10480 59,666 14,876 359,813 305,767 -10 376 360 295,751 WELFARE FUND The Welfare Fund was established lo allow the Iruslees lo make specific donations, as they see fil. to naady causes in the community. Thes8 funds repsent donations specifi'cally designated for thi$ purpose. 2021 2020 Balance brought forward and carried forward 2,391 2,391 Raprèsentod by.. Bank and cash balances 2,391 2,391 PA FUND The Parents, Association IPA) Fund was established to support the activities of the religion School. Funds are raised from Specific donations and fundraising 8vent$. 2021 2020 Balance brought forward and ¢arried forward 866 866 Represented by.. Bank and ¢ash balancès 666 866 Page." 12
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 EDUCATIONAL TRUST FUND The Educational Trust Fund, founded in the memory ol one of our eady members, is available to sponsor any member participating in a course or event intended to further Jewish learning or idenlily. The fund r8c81ves specific donatlons. 2021 2020 Balance brought forward Donations made in the year Donations received in the year 7,702 8,152 450 Balance carried forward 7.702 7,702 Represented by: Bank and cash balances 7,702 7,702 10 RABBI. DI CRETIONARY FUND The Rabbi'$ Discretionary Fund was established to allow the rabbi to make specific don?ti¢n¥ for charitable PUfPOSe5, as he or she sees fit. The fund represents donation$ for this pufpD5e from both inside ana oulsioje the Community. 2021 2020 Balance brought forward Donations made in the year Donations received in the year 4.402 1,000 3,073 2,028 700 3,074 Balance carried forward 6,475 4,402 Reprented by: Bank and cash balances 6,475 4,402 WORLD EWRY 2021 2020 Brought forward and Carried forward R&pr•s•ntad by.. Bank and cash balances Page 13