KOL CHAI HATCH END REFORM JEWISH COMMUNITY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 CHARITY NO.: 299063 KOL CHAI HATCH END REFORM JEWISH COMMUNITY 434 Uxbridge Road Hatch End Plnn9r Mlddlesex HA5 4RG
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unlncoTporated charity) REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MAY 2022 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 unSn¢orpofated charllyl TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2022 The trustees present their report and accounts for the year ended 31 May 2022. Objecls and Organisation of the Chartty and Prin¢Spal Actlvities Kol Chai Halch End Reform Jewish CommLJnity is a charity established under a charitable trust and is governed by its conslitulion. The objects of the charity are as defined by its constitution and its principal a¢livity 15 that of a synagogue and Jewish community- There is an emphasis on the educational work of the community. The charity is organised and administered by ils elected managemenl committee and executive officers. The management committee meets each month. The executive officers. in addition to attending the management committee meetings, also meet separately every iwo months_ The truslees11.e. the management committee membeTsI have considered the major risks lo which the charity is exposed. Publi¢ B•n8fit The charity's trustees have had due regard lo the Charity Commission's publtc benefit guidance. The main objectives of the charity are the promotion, preservation and obseNance of Jewish tradition, and these are sel to reflect our faith and community aims. The focus of our activities is the provision of plots and burial riles in accordance with tradition and arranging communal events and activities. Development, Actlvltles and A¢hl8vements this Year Kol Chai Hatch End Reform Jewish Community continues to develop the breadth and depth of activities Ispirilual and non-spifltuall thal il offers members. The educational, social and other charitable works of thè charity have continued lo be pursued, although some activities have been curtailed as a result of the covid pandemic. Balance Sheet and Statement of Flnancial Activitles The Slatement of Financial Activities shows that for the year lo 31 May 2022 the charity recorded a deficit of £11,221 12021.. a surplus of £9,348) excluding building amortisalion. The Capital Reserve decreased by £7,019 which comprised building amortisation of £15,449 less £8,430 in respect of donations for the building fund and associated Gift Aid. In accordance with our long*stablished charitable principles, we have contillued this year to raise money foi our own trust funds and lo collect for the benefit of outside charities. Our balance sheet continues lo show a healthy level of nel assets of £575,09412021'. £591,9231- To minimise bank interest and charges the main operating bank account of the cotnmunity holds both restricted and unrestricted funds. Subsequent Evgnts There have been no significant subsequent events at the date of the signing of this report. Page I
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unln¢oYporatgd ¢harity> TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2022 Avallable Funds and Reserves On the basis that members paying subscriptions remain broadly al the current level, and donations and funéiaising efforts continue to provide additional funds, the year ahead should enable the community to operate within available resources in relation to our ongoing activities and lo service our bank loan. It is the community's policy lo keep its funds on a low-risk basis in accounts of high street banks. The funds represent8d by resorves held for specific purposes are similarly hèld. Whilst the ageing demographic8 of members mean5 that membership income may decline over the coming years, the trustees continue lo look at ways of introducing new member5. Our balance sheet onlinues to show a salisfaclory net asset position, and we should be able to settle bills during the period of at least 12 months following the approval of the accounts. R18k The major risk to the community is if membership subscription income is not sufficient to cover its expenditure. For this reason, the trustees continue lo keep careful control over expenditure. The trustees endeavour lo sel subscriptions al a Tealistic level sufficient lo meet routine expenditure. When setting tnembership subscription levels, the trustees also bear in mind that mar¢y members are on low fixed incomes. and aecordingly reductions 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 settled on a prompt basis. As a result of the covid pandemic, certain fundraising activities that would olheTwise have taken place have had to be curtailed and although some activities have continued online, fundraising revenues have decreased lo some extent. Volunteers The charity benefits from the substsnb'al use of the services of volunteers, many of whom are trustees. Tru6tOèS The honorary officers as defined in the conslilution, logether with the other memb8rs of the management committee, are the trustees of the chaTity- There are no other trustees. Pa8e 2
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unincorpofated charltyl TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2022 The trustees are elected by the m8mbers ol the community al the annual general meeting. In the event of any of these offices not being filled al the annual general meeting or falling vacant during the year, the management committee may appoint a suitable member to hold office until the next annual general meeting. No payments have been made lo the trustees in respe¢t of services provided lo the charity, stal8mont of the Trustefrs, Responslbilitles The Iruslees are required by law lo prepare financial statements for each financial year which give a Irue and fair view of the slate of affairs of the charily and its results for that year. In preparing those financial statements. the trustees are required to.. Select suitable a¢¢ounling poli¢i&s and apply them eonsistenlly. Make judgements and estimates th81 are reasonable and prudent. Prepare the financial slalemenls on a going concern basis unless il is inappropriate lo assume that the charity will continue in operation. The trustees are responsible for keeping propèr accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are 81so responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevenb'on and detection of fraud and other irregularitses. The accounts have been prepared in accordance with the accounting poliGies set out in note 1 to the accounts and comply with the synagogue's Gon5titulion and The Charities (Accounts and Reports) Regulations 20a8. Approval This reFX)rt was approved by the tru5188s and signed on their behalf on 30 September 2022. Page 3
Independent Examiner's Report to the Trustees of Kol Chai Hatch End Jewish Community I report lo the trustees on my examination of the accounts of the charity. set out on pages 5 to 13, for the year ended 31 May 2022. Responsibilities and ba818 of roport A5 the charity's trustees. you are responsible for the preparalion of the accounts in aGcordance with the requirements of the Charities Act 2011 1.the Act"}. I report in respect of my examination of the charity's accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I havè followed all the applicable Directions given by the Charity Commission under seelion 145{5llbl of the Act. Independent Examlner'8 slatement The charity's gross income exceeded £250.000 and l am qualified lo undertake the examination by being a qualified member of the Institute of Chartered Accounlanls in England and Wale5_ I have Completed my examination. l confi'rm that no material matters have come to my attention in conne¢tion wilh the examination which gives me caus& to believe that, in any material r8spect the accounting records were rbot kept in accordan with soclion 130 of the Charities Act.. or the accounts did not accord with the accounting recoids., or the accounts did not comply with the applicable requirements concerning the form and conlenl tsf accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accout)Is 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 connoclion with the examination to which attention shouSd be drawn in this report in order to enable a proper understsnding of the a¢¢oun to be reached, rlan Mulderrlg Ind8pendent Examinor 09. 2aZL Date........... Gittins Muld8rrlg Chartored Accountants Reglstorod Auditors 6 Hlgh Stre&t Northwood Mlddl88ox HA6 1BN Page 4
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KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporalgd charllyl BALANCE SHEET AS AT 31 MAY 2022 NOTES 2022 2021 FIXED ASSETS Land and bulldlngs Fixlurès. fittiryJ$ equlpmenl e62,543 25,915 587,579 23,943 688.458 591,522 CURRENT ASSETS Debtors and piepaym8nls Bank and ¢a$h bal8nces 24,764 26,980 29.176 56,158 72,089 CREDifoRS Amount$ f811ing due wlhiTr on8 year NET CURRENT ASSETS 25.852 38,900 630.422 734,695 CRED ORS: Amounts falllng duo after more than onè year 159,601 38,499 NET ASSETS 575.091 591.923 Unrgstrlctsd Funds Income and expgndlture a¢¢ounl Capital reserve 203.555 352,794 214,776 359813 556,349 574,589 RMtrlctad Funds Wetf8re lund PA fund EdLKalional trust fut¥J Rabbl'5 dlscietionary fund Workl Jewry fund 2,381 2,291 7,702 7,866 -100 7,702 6,475 -100 10 17.334 591,923 575,094 P?ge 7
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 ACCOUNTING POLICIES Accounting Conventlon These accounts have been prepared un(Ser the historical Convention and in compliance with FRS102, Ihe Financial Reporbng Standard applicable in the UK, the Statement of Re¢ommended Practice applicable to charities. effective 1 January 2019, and the Charib'85 Act 2011. Golng Concem The trustees consider that there are no material Ljncertainlies over the charity's ability to continue operations and accordingly the accounts are prepared on a going concern basis. Fund accountlng Unrestricted funds are those Whe there are no externally imposed reslrlctions and thefOre are available for use at the discretion of the Iruslees to further any of the charity's purposes. Restricted funds are subject lo reslTi¢lions on their utillsalion declared by the donor or through the tsrms of an appeal. Incoming resources All income is included in the stalemenl of financial activities when entlement has passed to the charity. Resour¢e8 •xponded Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is ¢lassified under headings of the statement of financial activities to which it relates. Tanglble a6sets and depreclatlon The freehold premises comprise the cost of the land and buildings,. the buildings are amortised at 20/0 of cost per annum but the land is not amortised. Fixtures, fittings and equipment are depreciated at the rale of 25% of net book value per annum. Income tax rnpayments Income tax repayments on subscriptions and donations are credited to income and expendilure account only when Ceived, or accrued for only when receipt can be anticipated with reasonable certainty. Page 8
KOL CHAI HATCH END REFORM JEWISH COMMUNITY IAn uninix)rpor3ted charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 FIXED ASSETS Land and 8ulldlngs These cotnprise the cost of land and buildings at Woodridings Yard. Hal¢h End. Pinner, Middlesex, and include legal and professional fees and other associated costs. The improvements which began in the previous year were completed in the year lo 31 May 2022. 2022 2021 Cost Al the beginning of the year Additions during the year Al the end of the year 762,033 110,413 872,446 627,622 134,411 762,033 Amortisation Al the beginning of the year Charge for the year 194,454 15,449 183,974 10.480 At the end of the year 209,903 194,454 Net Book Value Al the beginning of the year 567.579 443,648 Al the end of the year 662,543 567,579 Flxturgs, fitting$ and equipment Cost At the beginning of the year Additions during the year 69,056 10,611 43.726 25.330 Al the end of the year 79,687 69,056 Depro¢latlon At the beginning of the year Charge for the year 45,113 8,639 37,132 7,981 At the 8nd of th8 year 53,752 45,113 Net Book Value Al the beginning of the year 23,943 6.594 Al the end of the year 25,915 23,943 Pagg 9
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 2022 2021 DEBTORS AND PREPAYMENTS Income tax repayments Subscriptions in arrears other debtors and prepaymen15 5,679 448 18,637 16,343 1,399 9,238 24,764 26,980 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and Social Security Subscriptions received in advance Other creditors and accrLbals Bank loan 1.765 5,426 15,655 3,006 1,706 5.674 7,495 2,381 25,852 17,256 CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loan 159,601 38,499 To assist in the financing of improvements to the synagogue bulldln9, the communty enlgred into a loan agreement with Kingdom Bank. The maximum loan facility amounted lo £215,000, of which the total amount ulilised amounted to £170.963, drawn down in 4 inslalmenls betsveen May 2021 and S8ptember 2021. The loan is repayable by month inslalmenls of capital and interest over a 30 year period. Interest is Gharged al a variable rate, which stood al 4.90% at the date of approval of these accounts. Page 10
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 5 INCOME AND EXPENDITURE ACCOUNT 2022 2021 Surplus brought forward Deficit for the year 214,776 -26,670 188.106 15,449 203,555 205,428 -1,132 204,296 10,480 214,776 Transfer ex Capital Reserve (Note 61- Building Amortisation Surplu5 ¢arried forward enses (see Page 61 Salaries, fees 8nd National Insurance Jewish Joint Burial So¢i8ty Reform Judaism membership levy Board of Dapulies fees Insurance Printing, postage and 81alionery lincl. Koleinul Books Bank charoes and interest Building services. mainlen8nc8 and renewals Sundry expènses Depreciation and nort1¥allOn Loan inter8sI Rabbi's expenses Membership of Citizens UK Independent ex8minalion of accounts Computor and database expenses 107,929 22,337 22.665 495 3,416 8,111 607 3.741 19.224 6,098 24,088 5,734 1,937 2,000 1,200 5,180 111,558 22.800 29,230 495 3,358 9,685 3,855 1,117 1.665 18.461 49 1,628 2,060 1,250 5,169 233.762 212.380 Other Diract Charltabl& Ex en Religion School expansas lincl. salaries & national insurance) High Holyday services and other religious setvices FundTaising costs 14,080 10.540 3,109 14.518 2,413 27.729 16,931 Page 11
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 2022 2021 CAPITAL RESERVE Balance brought forward Amortisalion on building Inole 21 Donalions received in the year re building works Gift Aid relating to donations re building wort(s Balanc8 carried foFward 359,613 -15,449 6,819 1,611 352,794 295.751 -10,480 59,666 14.876 359813 WELFARE FUN The Welfare Fund WAS established to allow the Iruslees lo make specific donations, as they see fit, lo needy causès in the mmunity. These funds represent donalions specifically dFsignated for this purpose. 2022 2021 Balance brought forward and carried forward 2,391 2,391 R8pro$8nt6d by.. Bank and cash b81ances 2,391 2,391 PA FUND The Parents, Association IPAI Fund was established lo support the actlvilies of th8 rèllglon school. Funds are raised from sperAfic donations and fundraising events. 2022 2021 8alance brought forward and Carried forward 866 866 Roprosented by: Bank and ¢ash balances 866 Pag& 12
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 EDUCATIONAL TRUST FUND The Educational Trust Fund. founded in the memory of one of our early members, is available to spon$Dr any member participating in a course or event intended lo furthèr Jewish learning or identity. The f4Jnd receives specific donations. 2022 2021 8rought forward and carr*d forward Rèpr•s•ntod by: Bank and cash balances 7,702 7,702 10 RABBI'S DISCRETIONARY FUND The Rabbi's Discretionary Fund was established lo allow the rabbi to make specrfic donalK>ns for charitable purp05e8, as he or she sees frt. The fund represents donations for this purpose from both in8id8 and outside the Community. 2022 2021 Balance brought forward Donations made in the year Donations received in the year 6,476 -200 1,610 4.403 -1.000 3.073 Bal8n¢e Carried forward 7,886 Ropr68ontod by: Bank and cash l>alanGes 7,866 4,402 WORLD JEWRY 2022 2021 Brought forward and carried forward Ropr•santed by: Bank and ¢38h balan¢e$ Page 13