KOL CHAI HATCH END REFORM JEWISH COMMUNITY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 CHARITY NO.: 299063 KOL CHAI HATCH END REFORM JEWISH COMMUNITY 434 Uxbrldge Road Hatch End. Plnngr Middle5ex HA5 4RG
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An uninGorporated charlty REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 CONTENTS Page Trustees, Report Independent Examiner's Report Summary of Restricted Funds Statement of Financial Activities Balance Sheet Notes to the Financial Statement5 8-13
KOL CHAI HATCH END REFORM JEWISH COMMUNITY IAn unincorporated charity) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2024 The trustees present their report and accounts for the year ended 31 May 2024. Objects and Organisation of thè Charlty and Prlnclpal AGtivitie8 KOS Chai Hatch End Reform Jewish Community is a charity eslablished under a charitable tru51 and is governed by ils constilulion. Th8 objects of the charity are as defined by its conslilulion and its prinGipal activity is that of a synagogue and Jewish community. There is an emphasls on the eduGation81 work of the community. The Gharily 18 organised and adminlstered by Its elected management committee and executive officers. The management committee meets each month. The executive offic8rs, in addition lo allending the management committee meetings, also meet separately every two months. The trustees li.e. Ihe management GommSttee rnember31 have considered the major risks to whiGh the charity Is exposed. Publ1¢ B•n•flt The charity's truste&s have had due regard lo th? Charity Commlsslon's public benefll guidance, The main oblectives of the charity are the promotion, preservation and observance of Jewish tradition, and these are sel lo reflect our faith and community aims. The foeus of our activities 18 the provislc*n of plots and burlal ritas in accordance with tradition and arranging Gommunal evgnls and aclivilie5. D•vfylopment. Actlvltle8 and Achlov•m•nt• thls Year Kol Chai Hatch End Reform Jgwish Communlty continues to develop the breadth and depth of aolivities Ispirilual and non-spirituall that 11 offers members. The educallonal, social and other haritable works of the charity have eontlnued lo be pursued and gxpanded. Balance Sheet and Stalgmgnt of Flnanclal Actlvltles Our Balance Sheet shows a healthy level of net a88ets of £643,52612023'. £684,391}. The Stslemenl ol Financial Ac11villes shows that for the year ended 31 May 2024 the charity recorded deficit of £24,819 12023.. a surplus of £115,316) excluding building amortisalion and excluding movements on restricted funds. Income for the previous year included £125,000 in respeGI of a legacy bequeathed by a fomier member of the Community. In accordance with our long-eslablished Gharilable principles, we have continued this year to ralse money for our own trust funds and to cu)Ilerl for the benefit of outslde charities. To rninimise bank interest an(f Gharge8 the main operating bank account of the community holds both restricted and unreslricted funds. The Capital Reserve decreased by £12.599 which comprised building amortl8ation of £15,449 less £2,850 in iespecl of donations for the buildin9 fund and associated Gift Aid. Subsequent Events There have been no signifiGanl subsequent events al the date of the signing ol this report. Page I
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated charity) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2024 Avallable Funds and Reserves On the basis that members paying subscriptions remain broadly al the current level, and donations and fundraising efforts continue to provide additional funds, the year ahead should enable the ommunlty to operate within available resources in relation to our ongoing aclivi118s and lo serviGe our bank loan. It Is the communrty's policy lo keep its funds on a low-rlsk ba$1$ in accounts of high street banks. The funds represented by reserves held for Specif purposes are similarly held. Whllst the agelng demographics of members means that membershlp incom8 may decline over the coming years, the Iruslees continue lo look 8t ways of introducing new members. Our balance sheet orllinues lo show J salisfaclory nel asset position, and we should be able lo sellle bills during the peilod of al least 12 months fL)Ilowing the approval of the a¢coLJnts. Rlsk The major risk to the communlty is if membership subscrlplion Income is not sufficient to cover Ils expenditure. For this reason. the trSleeS continue tD keep careful ¢onlrol over expenditure. The trustee5 endeavour 10 8el 8ub8criptlons al a realistic level sufficient to meet routine expenditure. When selling membershlp subscrlplion levels, the Iruslees also bear in mind that many members are on low lixed Incomes. and accordingty reductions in the level of subscriptlons are agreed in some cases, The treasurer monitors the cash resources of the community on a regular ba51S to ensure that bona flde expenditure can be settled on a prompt ba51s. Volunt•or8 The charity benefits from th8 substantial u8e of the 5ervi¢e$ of volunt8ers, many of whom are Iruslees. Trustee8 The honorary officeis as deflned in Ihg constitution, together with the other members of the management committee. are the trustees of the charily. There are no other trustee5. Page 2
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unincorporatèd charity) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2024 The Irusleeg are elected by the members of the community al the annual general meeting. In the event of any of these offices nol being filled al the annual general meeting or falling vacant during the year, the rnanagement Gommittee may 8ppoint a suitable member to hold office until the next annua general meeting. No payments have been made lo the Iruslee¥ in respect of services provlded lo the charity. statemont of thè Trustèès, R•sponslbllltl8$ The Iruslees are requlred by law lo prepare financial slalemenls for ea¢h finanelal yaar which give a true and fair vlew of the slate of affair5 of the Gharily and ils results for that year. In preparing those linancial statements, the trustees are requlred lo'.- Select sultable aGGounllng pollcies and apply them consislènlly. Make Judgement5 and e511males that are rgasonable and prudonl. Prepare the financial slalemenls on a going concern basis unless 11 is inappropriate lo assume that the Gharily will continue in operation. The trustees are responsible for keeplng proper accounting records whl¢h dls¢lose with reasonable accuracy al any time Ihg financial posilitsn of the charity. They are al$0 re8ponslble for safeguarding the assets of the charity and hence for laklng reasonable slep5 for the prevention and detection of fraud and other irregularities. The ac¢ounls hava baen prepared in 8ccord8nce with the aGcounting pollcles Set out in nolg 110 the accounts and comply with the synagogue's conslilulion and The Charllle8 (Accounts and Reports) Regulations 2008. Approval Thls report was approved by the trustee8 and signed on their behalf on 2024. Page 3
Independent Examiner's Report to the Trustees of Kol Chal Hatch End Jewish Community I report lo the Iruslees on my examination of the accounts of the charity, Sel oul on pages 5 tr) 13, for the year ended 31 May 2024. Responsibllities and basls of report As the charity's trustees, you are responsible for the preparation of the accounts in accordanc8 with the requirement¥ of the Charities Act 20111"Ihe Acl'l. I report in Tespect of my exafflination of the charity's accounts carried out under section 145 of tho 2011 Act and in Garrying out my examination I have followed all the applicable Directions given by the Charity Commission under seGtion 14515)Ibl of the Act. Independgnt Examlner'$ statement The charity's gross inGome exGeeded £250,000 and l am qualified lo undertake the ¢xaminalion by being a qualified member of the Institute of Chartered Accountant$ in England and Wales. I have comploted my examlnallon. I confirm that no malerlal matters havg com8 to my allenlion In connecllon with the examlnatlon which giv8s me cause to believe that, In any maltrrial respect.. the accounting records were not kept In accordance with 5e¢llon 130 of the Charilies A¢l', or the accounts did not accord with the accounting records., or the acGounls did not comply with the applicable requirements concerning the lomi and content of accounts set out in the Charities (Accounts and Reports) Regulation8 2008 other than any requirement that the accounts give a 'lrue and fairf, view which 1$ not a mall8r considered a8 parl ef an independent examinallon. I have no concerns and have come across no other maller8 In connection w51h the examinatlon to whiGh allenllon should be drawn in this report In ordei lo enable a proper understanding of the accounts lo be reached. Brlan Mulderrlg Indop•ndent Examlner Date............................... Gittins Mulderrig Chartered Accountants Registered Auditors 6 High Street Northwood Middlesex HA6 1BN Page 4
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KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincoTporalEd charity) BALANCE SHEET AS AT 31 MAY 2024 Notes 2024 2023 FIXED ASSETS Land and buildings Flxture$. ffltllngs and equipment 631.645 28,543 647.094 27,949 658,188 675.043 CURRENT ASSETS Debl¢rs and prepayments Bank and cash balance8 29,786 78,939 108.725 135,923 63.050 198.973 CREDITORS Amount¥ falling due wilhln one ye8r NET CURRENT ASSETS 30.729 33.305 77,996 736,184 185,688 840.711 CREDITORS.. Amounts falllng due after more than one year 92,658 156320 NET ASSETS 643,526 884,391 Urbr•8trlct•d Fund Income and expenditure account Capllal reserve 294,052 328 255 318,872 340,854 622,307 659,726 R•strlcted Funds Welfare fund PA fund Educational tru31 fund Rabbi's discretionary fund M8mbership Oevelopmenl fund 2,291 866 2,291 866 8.562 7.946 5,000 7,862 5,536 4.664 21.219 e43,526 24,6e5 884,391 Page 7
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unincDrporatsd charilyl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 ACCOUNTING P CIES Accountlng Convention These accounts have been prep8red under the hisloriGal Gonvenlion and in ¢omplianc8 Wlth FRS102, Ihe Financial R8porting Standard applicable in the UK, the Slalement of Recommended Practice appllcable lo charities, effectlV9 1 January 2019, and the Charit$ Act 2011. Golng ConGem The trustees consider that there are no material uncerlalnties over the charity's ablllty to continue operations and aecordingly the accounts are prepared on a going concern basis. Fund accountlng Unreslricled funds are those whgre IheTe are no externally imposad restrictions and therefore are available for use al Ihe discretion of the trustees lo further any of the charity's purposes. ReslriGled fund5 ar8 8ublect lo reslriclions on Ihelr utilisalion declared by the donor or through the torms of an appeal. Incomlng re8ourcg8 All income is included In the slalemenl of financlal a¢livllle8 when entillgmenl has passed lo the charity. Ro$ourc•g 8xponded Expenditure is recognised on an a¢¢ruals basis as a liability Is Incurred. Expenditure includes any VAT whlch cannot be recovered, and Is classified under heading5 of the statement of financial activities lo whitth11 relates. Tanglble assets and dgpreclatlon The freehold premises comprise the cost of the land and buildings,. the buildings are amDrli8ed at 2% of cost per annum bul the land is not amoT115ed. Flxlures. fillings and equipment are depreciated at the rale of 250A of nel book value per annum. Income tax repayments Income lax repayments on subserlpllons and donations are crediled to income and expenditure account only when received, or accrued for only when receipt can be anticipated with reasonable ertainty. Page 8
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporal8d charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 FIXED ASSETS Land and Bulldlngs These comprise the cost of land and buildings al Woodrldings Yard, Hatch End, Pinner, Middlesex, and include legal and professlonal fees and other as5oGiated costs. 2024 2023 C08t Al the beglnnlng of the year Additlons during the year At the end of the year 872,446 872,446 872,446 872,446 Amortl8atlon Al the beginnbng of the year Charge for the year 225,352 15,449 209,903 15,449 Al the end of the year 240,801 225.352 Net Book Value Al the beginning of the year 647,094 662.543 At the gnd of the year 631.645 647.094 Flxtur•8, flttlngs and equlpment Cost At the beginning of the year Additions durlng the year 91,017 7,442 79,667 11,350 Al the end of the year 98,459 91,017 Depreclatlon Al the beglnning of the year Charge for the year 63,068 8,848 53,752 9,316 At the end of the year 71,916 63,068 Ngt Book Valu• At the beginning of the year 27,949 25,915 At the end of the year 26,543 27,949 Page 9
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unin¢orporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 2024 2023 DEBTORS AND PREPAYMENTS Income lax repayments Svbscriplions in arrears Accrued Income Other debt¢rs and prepayments 13,951 2,550 3,447 9.838 13,108 1,051 115,000 6.764 29,786 135,923 EDITO HIN MOUNT8 FALLI Taxation and Soclal Security Subscrlptions reeèlved In advance Othgr cr8dltors and a¢crua18 Bank l¢an 1.288 3,085 20,186 6,170 2,228 4,476 24,499 2,102 33,305 CREDI TERM '. AMOUNTS FALLI NE YEAR DUE Bank loan 92.658 158,320 To a$$l$t in the finan¢ing of improv•menls lo the synagogue building in 2021, th• community entered nlo a loan agreement with Kingdom Bank. The lolal amount borrowed amountèd to £170.983. The capllal balance outstanding at 3181 May 2024 had been redu¢&d to £98,82812023.' £158,422}, as a resul1 of some additional capital repaym8nts. Intarèst Is charged al a variable rate, which stood al 6.8% at the dale of approval of these accounts. The loan tgrm was origlnaSly sel al 30 years. Monthly inslalmenls of capital and intere81 arg being paid. 11 is the intention of tha Twste8S to periodlcally make additional capltal r•paymenls in order to shorten the loan term and save intérèst charges. Page 10
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorpor8ted charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 ND EXPENDITURE ACCOUNT 2024 2023 Surplus brought fthward Deficit12023.' Surplus) for the y8ar 318,871 -40,268 278.603 15,449 294,052 203.555 99.867 303,422 15.449 318,871 Transf8r ex Capllal ReseNe (Note 61- Building Amortisalion Surplus carri8d forward gn$•# (see Pa9e 61 Salaries, feès and National Insurance Jewish Joint Burial So¢iely Reform Judaism membershlp levy Board of Depulles fees Insurance Printing, postagè and slallonary Ilncl. Koleinu) Books Bank charges and interest Building seNlces, maintenance and renewals Sundry expens9S Depreciation and amortisalion Loan interest Rabbi's expenses Membership of Citizens UK Independent exarninalion of account8 Bookkeeping Computer and database expen88s 129,153 9.531 27.743 495 4.017 7,781 4,744 3,632 20,555 4,380 24,297 8,383 2,539 115,471 10,502 26,328 495 2,027 7,710 498 3,746 14,950 2,273 24,765 8,689 2,327 2,000 1.200 1,425 11.770 1,200 7,200 8,799 264.429 236,176 Other Dlrgct Charitable Ex ens88 Réligion School expenses lincl. salaries & national insurance) High Holyday services and other religious services FLsndraising costs 20,997 28,641 3.531 18,084 19,669 3,465 51,169 41,213 Page11
KOL CHAI HATCH END REFORM JEWISH COMMUNITY {An unincorporated charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 2024 2023 CAPITAL ESERVE Balance brought ftjrward Amortisalion on building (notè 21 Donations received in the year re buSldln9 works Gift Aid relating lo donations buildlng works Balancè carrled fOard 340,854 -15.449 2.210 640 328,255 352,794 -15,449 2,871 638 340 854 ARE FUND The W&lf8r8 Fund was established lo allow th¢ Iruslees to make 8pècifia donations, as they 8ee fil, to n88dy causes in the communlly. These fund$ repreBenl donations specifically design8t•d for this purposa. 8al•nce brc•ughl forward and carrled forwgrd 2,291 2,291 Repre88nt8d by.. Bank and cash balanceB 2,291 PAF The Parents, Assoclallon IPA) Fund was establl8hed t¢ support tho activS1I88 of the religlon School. Funds ar• ralgèd from specific donations and fundrgising evenl8. Bal8nc& brought forward and carrièd forward 866 886 Rèpresented by.. Bank and cash balances 666 886 Page 12
KOL CHAI HATCH END REFORM JEWISH COMMUNITY (An unincorporated th8Tity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 EDUCATIONAL TRUST FUND The Educational Trust Fund, lounded in thè memory of one of our eaily members, is available to sponsor any member participating in a ¢aursè or avant intended to furthei Jewish learning or idenlily. The fund receives specific donations. 2024 2023 Brought forward and carried forward Oonalions made in the year Donations receiv8d in thé yéar 8,562 .700 7,702 860 Balance carried forward 7,862 8,562 R6pM•onted by: B¥nk and cash balancès 10 RABBI'S The Rabbl'8 Dl8¢retlonary Fund was g$lablished to allow the rabbl lo make $poGifi¢ donatlons fer charilablp purpo8e8, as he Qf 8hg $aes fit. Th• fund repre8enl8 donallon$ for thiB purpos? from bolh inside and oulslde the Community. Balance brought forward Donation8 made in tho year DonalSons re¢oived In the year 7,946 -3,760 1,350 7.88e .440 500 B8lance carrled fOard 5,538 7,946 R•presented by: Bank 8nd cash balane•s 7,946 EMBERSHIP DEVELOPMENT FUND The Membership Development Fund was e$tablighÉd to provide finanual 8UPP¢rt fc*r projects or a¢tlvilies designed lo grow member8hip. Balance brought forward Donation¥ made in the year Donations received in the year 5,000 -336 5,000 Balance carried forward 4,864 5,000 Reprèsented by: Bank and.cash balances 4.8e4 5,000 Pa9¢ 13