The Clwity Registration Number is :_ ￿0074 The Conjoint Board of Elders of the Manchester.Congregations of Spanish and Portuguese Jews Report and Accounts 31 De￿mber 2020 The Conjoint Board of Elders of the Manchester Congregations of Spanlsh and Pc Report and accounts forthe year ended 31 December 2020 ConteTrts P49è Chailtylnformatlon Tru$tees' Annual Rèport Indgp¥nd¢nt auditofs rep¢*t Funds Statements... statement of FinanrA81 Acliirib"es vements In f￿d$ Balance sheet 10 12 Notes to the accounts The Conioint Board of Eldors of Ihè Manchester CongregatloTrs of Spanlsh and Portuguese Jews Trustèos. Annual Reportfor the year eTrded 31 Dec•mb•r 2020 The TTUStees present th￿r R8POrt and Ar£ounts for thg year ended 31 Docerllber2020. Referen¢e and admlnlstrntlve detai15 Thg charttynama The Iwul nam8 ofthe charffy18.'- The Coniunt 8oanl ofEbJers of the M8nch8Btsr CongTroaUcfi8 DfSpanL8h and Portuguese j￿$. The ¢harllYs *r•￿ opwalion and UK thwltablereglstr•i)on. Thg ch8rity rs r8giSt8r*J In England & Wales the Ch8rityCunJ7i8sion in EnglftThJ & VV8le5 (CCEW) witll charfty numbw 50t¥J74. Th8 charity do88 not OP8rate In ￿ Ov0￿0a$jUttsdtCt￿jns. Logal5lrnc￿rfr of ib• ¢lMrfty Tho ConlthntBoard of Elders ofthe Manthesler Congregabons of 4rKI Port￿U8$8 Jews Is an unincorpordted a8sw8tion. The constituent congrega￿On5 are.. ma[￿h8&1￿ Congr8ratlon of SPa￿sh & Portuguese Jews (Sha'are Tefillah) Sephardi Cor¥JregBtion of South Manchester Isha'ore Haylml The Board was forrned undèr a trusi deed dalod 23id NoveFrtter 1913. The tnJBt deed hog t￿en levis￿j 6everal Ilmes snce fomi8tion artd the CU￿ent￿0vernltYj d0cWn￿t rf the Board k8 a tru8tdeed dabj 3KI Decembgr2008. The trust885 arg au IndwiduaL8. Th• pwlnctyl operating address of the ¢harity T5:. Ftat 3. 300 H4e Road HaJ8 Barrs, Che5fare WA1S 8SP Th& Trnsl995 served during the y￿and were In offic• Dn the date the reportw approv￿ wr•:_ M Sh8rtr#)wn¢- Preshjent & Trthsurer R 8irnon- VJc8 pr￿denl A J Leon- Secretary Flnance Comm1tt4• M Sherbourna AJL8on EJ Coh8n D Womson R &rmn V L8baton The Conlolnt Board of Elders of the Manchester CongMgatEons of Spanlsh and Portugu￿9 J8 Trt¢5teos' Annual Reportfor the year endÈd 31 December2020 Objects and activities of the charity Thopury>oses oftho charlty88501 oul In Its governing documenL The rrin¢lpd activl118s aDd obpctives of charty 8r8 th8 OP8r8Uon of a bjrial forThe Man¢hestor Congregations of Spanish and Portuguese Jews ar¥J th8 di5tributign of 5WFIu5 investrnent Income to other chariti.es. Thg main a¢lNldgs un¢l¢rtakgn durlng th8 yearto furtherthe charlly*pu4>050 forthepublic b6n•ffL Th8 Board orgarI58d lun0ra￿ dudng the year. The tr￿tee9 have had regard to th8 Charity Comrr&Bsion's guidance on pU￿[C benefit in tnanaglng the a¢*vities of the charity- The rnain achl•v8ments and perfomiance of the charity during the year. Th8 charlty orgari59d tWe￿E fungra16 In tho year. Th8 tsm8tery 8t uM￿tOn. which 18 owned by ttrE th81ity. coniinued to be malntained. A contribubon was mad8 toward8 the rrfjrlltenance ofstsuthem Cemetery. Structure* g0￿ManCe and Tnanagemont of thè ¢harky The charflKs orgam5aliona151ni¢iur¢. The Con8ltu8nt CoroJTegation5 iNenni8Jty 8ach apwynt six gldets lo Ihe Boanl, ￿lch also ir￿l￿deS the immak*e Past Pr￿lIent Fknno￿ Life Elde￿. The Board e￿ fD)m its members five Execulive Offic8r5 to ad￿nistertheday-tTrdaY allaSr5 ofthe Board. All slanifir2ntinvestmeTrt or eX￿ndItUre d￿lSIonS are rnade tythe Board. The Conjoint Board of Eld¢rs ofthg Manchèster Congregatign$ of Spanish and PortU9Uè5e J8% Trustee$, Annual Reportfor the y•ar ￿ded 31 Docembw 2020 Flnan¢lal review Tho charfws I*•a￿[dIP0Slrtlon * the end of th•yeerendod 31 D￿Mb¢r2010 The financlal p￿tion of the charity at 31 C*c8nknr2020 araj conwaratNas forthe rAior perlod. BS more ful detaTlwJ In the aCco￿nts, Can be 5urnm9ris￿ a5 lolkJ%ys:_ 2020 2019 NBI incorne 7.8 Unrestricted R8venuè Fur￿$ avaSlgb18 for th8 g8ner81 puw&8 rrfthe th&rity De￿gn8t8rt Revenue FuThls Tolal Unr•slrkl•dFunds 4fM.568 51.989 440.424 50,000 490 424 Total Fund5 452,557 490,424 Fth8nd￿revIO￿o/Ih￿PO$1￿on at Ihewortffng dot4 31 Decemb•r2020. The Ir￿tee$ consider the finana81 perfOr￿￿￿e by the ch8rity duhro Ihe yearto have been 8atisfathry. The 1LWA FKovlslon ffl￿8 *Jainst purchased I￿￿81 p￿ts d￿8 lo the trust888 ded5ion on a￿e$S and usat¥lty h88 been maintained. Th8 tharfty alm5 to ho￿ suffiL¥8nttree reserves to cover operatiti￿1 e¥pens85. Avai18bHRy•ndad&7u•¢yof assots 01￿ch ol tho funds The ba¥d oltrusl88s Is satisfigd that Ihts ch8FityS 888ets In each aTe avaiLqble aThJ 4d4uat¢ to tulfil its obh'gations In of eaGh fvrxl. thvotsnentpollcy •ndinvestment obJ9cflwo& There are no restrfL*ons on the charltys Po￿tr to Invest. The IN85tm8nt strategy15 881 by the truste&8. Th18 policy is set within an overall poNcy of Inve5tlng in low iisklmiestmerts_ Th•maiorrlsk$ to whlch Ihe amrllyts •xpos•dandrevl￿s andsy5twns to mftig•lelh•rn. Th& truste65 conslder that the Thior riskthe tharity faces i5 a1058 of meMb0￿￿thin th8 Sha*re HaWm CongregatiDll. Thi8 rlsk Is Thiugated ty thg cl)S8-krit nabjre ofthe Com)￿ty. Plan5 For the Futhre Th8 Trustee5 will contlnueto manage the chatity with the dmthat it has suffilyent res￿est0 tund fvturo rials and rnaintenance. The ¢oDjoint Board ol Elders of the Manchèster Congrègatlons of Spsnlsh and pOrtug￿se Je￿ Tru5140S' Annual R•port for the ￿•rthded 31 Docember 2020 Details ol The Audltor Langar & Co Chartered Arcount8nt & statulory Auditor &1U Galley Road Ch&8dle Cheshlre SK81PY Stthment 8S to dl8c105urfr of knformatlon to audito Th& tMsle&8 state that so far 88 each ofthe trustees 8t the tthe this r8pDrt was appnwed aro Wdre:_ a) There is rbo TelETrJ8nt 8udit Tnfonnatifm la8 defined ty 88Ction 418131 ofthè CoThpanlfjs Ar 20C61 ofwhlch the auditwsare mawwe, and bl The truÈte8s have taken am 8tepE thatthey ought to have taken to make theMse￿e5 aware of any r8lwant aud¢ inf0Fm8lio￿ Bnd e￿a￿lsh that the audtors are aware of Ihat Infam18ti0n. 8t818ment oiTrnstee5' Rasponslbllities The d)aThtys trustsos s￿ responsibl8 for the pr8p8f8ti￿ oflhe acwjnts In 8¢¢Drdanc8wlth the lem% of the Chariti85 Act 2011 and th8 Charth"es ￿CcoUn￿ and Roport81 Regul8llons 2D08. Nthth5fanding the ex￿1￿1 TequireEnent in ex18nt stalutory regulaticn5.thE Charities IAccDunts and Reports) Regulabons 2008, tD epare lh8 fin8noal 5tatemenls in accordanc8 Nbith the SORP 2QD5, in ￿leW of the factthat the SORP 2005 has been Iwthdr84vn. th8 Trustees ddwmined to intwprot Ihls respon￿￿lity as r8qwrir¥J them to follow Cu￿nt tjest practice and prepare the acc￿￿￿ aG¢ordiro to the FRS 1(f2 SORP IStatem8nt ol Recorrrnnde PtacbGe lor Accounti￿ ard Rewrting by Charith85) 2015, la5 0)￿nd&d by Ihe Bulleun i5SU8d in fJ¢tobeT2018 8nd gpplcaue to ai 8cLy)unOng periryls beglnnlng on or aftw 1st January 20191, rfhe SORPI. In p8rticul8T. law r8qLdres the Tru6ts8s. if they wepare 8CCOUrts on an a¢crua15 basb, to rxepare flnanoHI statement5 for eaGh financia5 yearwbich 8 true and f8irview olthe stgte of affalrs of the charlty as at tre ernl ol the financial y8ar 8nd of Ihe surplu8 ordeficft of the ¢hatity- In prepaiing thc68 financlal statetnenls Iha Trustee5 are wttired to :_ -to prepare accoufits tn 8ccord8nc* ￿1￿ Vr•ted langdom Gengraty Accgptetl ountiro Practic6 luTht￿ KingdoFn AGcDunting Standards and sp￿Icable I￿1. - se18Ct suitable a¢countiry poficies and appty them wnsistenl1y-, - MakelL￿geT￿8nts and estimates that a￿ reasonable 6n¢J pr￿ent., - prepare th8 finandal staten*nb on the g(4ThJ ¢onc8rn bosls ￿￿888 It is ingpptoptiate to presum8 that th8 charily will continue In buslness., stste W￿ther akvli¢abl8 accountillg stand8rds and statements of r8comrrEnded pr￿tice have been follDNed, subjeclto any rnaterfal departur68 thsclosed and 8xpl81n￿l in the l(nandal statemnts.. Th& Lgw r$qulr8S that Ih8frusteES must not aF*￿Ve th8 accounts unl8ss they are satlsfied thatthey glvo a true aThl fwr of tt)e stst8 of 8ff8lrs of the cttarfty and of Ihe Su￿Ll8 or defi(at of th8 charity fu the y88r. Th8 TnBtees aye aL80 re8wnsibie for m8intslrlryJ adgquate accowrtlng Teco¥d8 which disclose with reasonable a￿UraCY at any tlme the finan¢lal PD8ition of the tharity 8ndwhiGh are sufficTent to $hth¥ ex￿an the charitys transactions 8nd enable V)8m to en5￿￿ that the finanoal statements compty vllh ieguLqtior￿ T[￿de under thè ChartI88 Act 2011. They are a150 ￿sponsIb￿ for Safeguarding the assets of Ihe charity and hence fortaknng iaasonable step5 loithe preventicffi and detecty.on of fraud and other irrggul8tlbe5. Thv CoTrioint 8vard of Eldfjrs of Ihe Manchestor Congregatlons of Spanish and Portugu450 Jews Trnsta•5' Annual R¢port forthg year oNd8d 31 De￿M￿#T 2020 Th8 Trustees are also responsi1￿8 forthe Gontents of the Trustees, report, an4J thg St8lutory responsibilty ot the audltor in retatlon to the Tr￿te8s, r8P(Mt is Nmited to exananing the re{￿ and 8n5uring that. report istent￿1th thp ffgur88 dl8¢tosed In Ihe ffnanclal stgt8m8nts. Tlus repDrtvtd5 8pprov8d by the b&8rd of trusteeg on .................... ...... .... M Sherb￿jrne Trust•• The Coniolnt Board of Eldèrs of the ManehÉstèr Congregations of Spanl$h and Portugue¥e Jews lThJependent audftots. report to th* trustees of The Ceryoint Board of Elders of the Man¢hèstèr COngrega￿onS of Spanish arhd Portuguese Jws Opinion We have audited the financial sl8tements of The Conioint 8oard of EIJgTS of the Mancfvestèr Congregations of Sp8nish and Portugu8s6 Jews lor Ihe year ended 31 Decembgr 2020 thich comprise the Statement of FInancial Acliwties, th8 Balan¢e Sheet, the Cash Flow statement and the ￿lated notss. Th¢ finanual reporting fraFrEMork that has boen applied in Iheir pr¶tion is appficabla18W8nd United lfjngdom Accounting Standards, induding FRS 102 The Financial ReportirKJ Standard ap￿1¢8￿1& In the UK and Republic of Ireland (United lfj"ngdom Gen8raty Accepied Accounting Practice). This report 1$ made soldy to the charitys trustees, as a b<¥Jy, in accordan¢o wslh sethcn 144 of th8 Charities Act 2011. Ouraudit w)rf( has been undertaken so Ihal m&￿t state to the charity's trustees those matters the are required to stale to Ihem in an aud1t0￿$ report and for no other purpose. To the lullest tsxtent P6rrniited by18w, do not accept or assum& responsibllity lo anyone olh?r Ihan lh& charity and Ihe charity's trustees as a btsdy, for ￿raUdit work. forthls reFK)rt, orfor the opinions have formed. In our O￿nIOn the finanu81 statements= give a true 8nd fair V￿wof the state of the charitys af18irs as at 310ecemter 2020, and of its inrA)ming resources and applcation of resources, for tho yearthen ended. have b&8n proFerfy prep8r8d in accordance Uniled Kingdom Gènerally Accepted A￿untIng Practi• and have ￿en prepared in accordance vA1h Ihe requirements ofthe Charit￿$ Ad 2011. Basis foroplnlon We conducled our audit in ￿￿ordanCe wsth Int8rnational Slandards on Auditirg {UK) IISAS IUK)) and applicable law. Our responsibtlitie5 under those 5t8ndards a￿ furth￿ d8su?bed in the audilorfs responsikn"lities forthe au(5t Df the financial statements sècts.on ofour report. W& 8re independent of the charity in accordance the ethical reqyirements that are relevant to our audit of the financial slalements in the UK. including Ihe FRC'S ElhicaS Standard, and have fvifilled our other ethical responsibil￿e¥ Trn accordance ￿th r8quirements. We belie￿ that the audit eviden¢e the have obtamed is suffiriènt and apwopriate to provid8 a basis for our opinitsn. Conclusion¥ relating to goln9 concom We have nolhing to report £n respect of Ihe foll(rn9ng matters in relation lo thTch the ISAS (UK) r&quire us to report to you %there: the trustees use of Ihe 9OTng concem basis of accounting in the preFpration of the financial sfaterrents is not approwale,. or the trustees have nul di$dDsed in Ihe finan￿al slat•ments any identified material uncertainties that may cast siunificanl doubtaboul the charity's atility to contillue lo adopt the going concèm basis of acuunting for a period of al leas1 ￿1ve mnths from the dats the financial statem8nts Are authoiised fDr i$suo. Oth•r InfOrn￿tIOn The other infomation compTises th8 informalon included in the annual report, olherthan Ihe financial stateff￿llts and our audiltsfs report thereon. Thè Irustees are responsible forlhe other informalion. Our opinlon on the financial 5tat8ments d￿S not cover the other infomiation and. except to ext&nl otherwise stated in our report, we not express any fortn ofassurance cOr￿lUsI￿ th￿on. In connectiDn ￿￿th our audit of the finanaal statements, our re5ponsilxlhy is to read the other infvmwtion and, in doing so. CLJnsider thether the other information is Tnaterially inconsistgnl ￿1th the finamal statements or our k￿c￿edge obtained in the audit oratheNAse appears to bo m8lerially misstated. If we Ide￿￿Y such rnaterial inconsistencAes or apparent material misstatsments. we ar8 r&quited to determine th8thÈr there is a material nisstatement in the financial ststements or a m8t8ri81 misstatement ofthe otherlnforn*tion. If. based on the workwe have pgrfomHI, ￿ conclude that there is a rnaterial rrisstatement of this other snformatlon. we are rgquired Its r6POrt that fact. We have nothing to report in this regard. Matt•rs on which we are requirÈd to r•p¢)rt by •xception have nothing to report in rèspect of th& lo110¥4ing maltsr8 in relation to vthich the Charities (Accounts and Reports) Regulations 2008 requi￿ us to report to you rf, in our opinion: Ihg informalion gwen tii the finanrAal statements is in￿51510nt in ary material respectwilh the Trustees Annual Report,. QT propor a¢counting records have ntsl been kept., or th& financial st8tem8nts are not In 8greement Hith the accountNIg records.. or have not re￿iVed all the inf0m￿tIOn and expiAnaticffls we require forouraudlL Respon$lbilities of tA￿tee8 As explained more fulty in the Trustee¥ Responsibditiès Staleffl•nt set out on pago 4, the trusta&s are responslbte f¢rthe preparyalion of finan¢kql statsments and for being satisfied that thèy give a true and fair view, an¢J for such intemal control 8$ the trusteas deterTrNn• is necessary lo &nable the prèparation of financial statements thal are fr88 from matsrial nisstatsment, whother due to fraud or error. Auditovs rÈsponslbilitie$for the audit of the Ih)8nc£41 statemènts We have been appointed as suditors und¥ secti)n 145 of thè Charities Act 2011 and report in acurdanc8 the Aet and re16vanl regulations made or having affect ihereunder. Our 04"eth"vès are to obtain reasonable as$utance abrmjt ether Ihe financTal $talernents a$ a ￿Ole are fre& from material mi55talement, whether due to fraud or error, and to Issue an audtorfs report that includes Ourop￿¢0n. Reasona￿4 assurance ts a lugh le¥el of 8s$urance. but is not a guarantee th* an auch"t conducted in accordance ISA5 (UK) *911 thys detect a m8lerial rnisstatement when il 51s. Misstatemfjnts can arise from fraud orern)r and are conssdered material il, individualty or in the 8ggr6gale, they cO￿d reasonably be expectod lo influencg the economic decisions of usèrs taken on the basiB of th•se financial ststements. A furthardèscriptK)n of ourfeswnsibilitiè5 for the audit of the fitkancial Statements 1$ located on the FinanrA81 Rewrts"ng CounrAI's ￿bSIte al%￿￿.fr¢.Org.uk1audltor$re￿)oTrsltdlrt1eS. This descriptiDll forn￿ part olour auditorfs r¥port. 19 August 2021 Langèr & Co Charter•d Aeeountsnt and StatutoryAudltor &10 GatleyRoad aMadle heshiro SK81PY Langer & Co is eliglble forappointmgnt a5 aurfrtorof thg Ch￿ity by of its eligitxlity for 4Jpoh)Im¢nl a8 audrtor of 8 company undersection 1212 ollhe Ctsnw)anies Act 2006 The Gonjolnt 8oard ot Elders ofthe mancI￿Ster Congregatlon$ of Spanish and Portugu8B• Jèvts- Statament of Financial Actfvitieslc*rthe year•ndtd 31 Decembar 2020 SlolemÈnrt of FlnancJ81A¢￿V1l1￿ for Ihey•ar endad 31 D8cembgr2020 Prforyear Total Funds SORP Cunpnt year Unre5trfct8d Funds Current year RestrÉct Funds uNerf y Total Funds 2020 2020 2020 2019 Income & End¢)wTr8ntsfrom: Charltgble edi￿1188 Inv8stm8nts Other 37,596 5,758 1,881 37,596 5,758 1.881 50208 6,018 2,629 A4 Total income 45,235 46,235 Expenditure on: Charit*le Hctknts8 B2 83.102 83.102 51.025 Total 8xp8ndltu 83,102 83.102 51.025 Net inc¢)me forthe year 137,8671 137,867> 7,830 Net Mi¢oin4 aftèr tran5fer5 A44 1370671 137.8671 7.830 Net I￿¥•ment in funds 137.86n 137,8671 7,830 Roconclliation of fund5-. Total lunds broughtforward 490,424 490.424 482,$94 Total fund5 ￿ryled forward 452,557 49D,424 Tha'SORP Rge i￿lEat￿ 8bove i5the d8s8ifi¢atirm of income set in formal SORP d￿Urner￿. As wuired by paragraph 4.W olth8 SORP, Ihe brought fotwafd ¢￿rted foThY8rd lunds aly)ve have b88n agrevj lo the Balance Sheet. A 5epar*e Ststernent of TDtal R8¢ourrised Galn5 and Losses h not tequSred as tli8 St8t8ment It￿1￿ all recognis￿j oalns th 1058es. All lh8 Ptior yoar transaL*ons ￿re unre8lricled itetrs, ar￿ rK) ￿rther analysis is required All aclfvlUe8 derive from conlwing operations The not85 attached on pages 12 to 19 lom an integral part of these accounts. ThE Coniolnt Board ol Eldors ofthe MancWrCoTrgrogations of Spanh*h and Portugues• Jews- Statement of Flnancial Activibesforlhe Jwrended 31 DoG8mber2020 Th• Conjoint Board of Eldèrs of the ManchesterCongregati0ti5 01 SpaTrTsh and Porluguw Jews- Resources applled In thèyearended 31 Dèc•rnbpr 2020towards fixed a58ets lorChaTity us•:_ 2020 2019 Funds g8neratvJ in the yeai a5 d8t?iled In th8 SOFA (37.*n 7.830 Nèt resou￿0$ availabt•to fund charltable actfvi1105 137.867 Mov•ments in rnvenue and ¢apltal funds forthe yearendod 31 0￿8mber 202D Revenue accumulat•d fund5 Total Funds Last year Tolal Fund5 2019 Fund5 2020 Funds Ac￿mUlat￿ funds bTought foThvaTd 490,424 490.¢24 481594 Reeogni88d gal￿ and losse5 lJ8fora transfors 137, 452.5FI 452,S57 490.424 Closlno rn¥enue funds 4S2 D8slgn*4d r•*nue lunds included ￿thin tha unK•strided tsnds above Total Fund5 2020 Last yeai Tolal Funds 2019 At 1 January s),￿0 At 31 Decemb•r 50,000 50.000 The wrpose5 forwl¥¢h these l￿d$ have d8*gTMted de8cknJ in Nots 17 to the ac(x)unts. Sunvnary of fvnds R¥stricted Funds Total Funds Last Year Totsl Funds and Designat•d funds 2020 . 2019 Rgvgnue accumulated Revonue desJaY)gtwJ fvnds 402.557 50,000 402,SS7 S0.ODQ 440,424 50.IWJ Totsl funds 452.557 452.H7 490.424 Tha notes attached page5 12 to 19 fonn an lTrtggral part of th058 accoynts. The Conjolnt Board of Elders of the Man¢hester Congregatk)ns of Spanlsh ind Portuguese Jews- Balance Sheet as at 31 December 2020 SORP Jtes R 2020 2019 Fixèd as6ets Investments held as fixed assets 15.850 15.850 Current assets Dgbtors Cash at bank and in hand 9 B2 185,369 )4,551 194,393 338,857 Total CU￿￿nt a$sots 489,940 531250 CRditors- amo￿t5 falling du• within one year 10 C1 {1,8041 13.897) Nèt Current assets 488,136 527,353 503.986 S43203 Nrt •ssets Crgdilors.. a￿uftts fg11ing due after More than one year 11 C2 151,429) (52,7791 Tho total net assets ofthe 0￿rity 452.557 490,424 The totsl n•t agsets af tl* charity a￿ funded byth* lunds of the ch*rity, as foll¢Mvs:. Unréstrlcted Fund5 Unresth¢tgd Revenue Funds 14 D3 402,S57 440.424 402.557 440,424 D￿l9￿a￿d Funds Design8tsd Reven￿ Funds 14 D3 50,000 50.000 50,000 452,557 50,000 4￿,424 Totsl charltyfiw¥J5 The'SORP Ref Indicated above Is the dassificalion cé Balan￿ She8t items as sel out in the formal SORP dLKuments. As required by paragraph 4.60 ofthe SORP, the tmughtforward and carried foNArd funds abov8 have been agreed lo thtr SOFA.. The Trustees ackTr￿1edge their rèsponsibilities for com￿￿n9 vith th9 r•quirements of ¢barity legi$￿tIon ￿1th resyct to accounting recoffls and the prgpardtion of acwunts. The charily is 5d)jectlo audit uDd8rchaiity ￿gISla110ft, and the rep¢xt of the Charities Act guditor Is on page 7. 10 The Conjolnt Board of Elders of the Manchester Congregatlons of Spanish and Portuguese Jews- Balance Sl)eet as at 31 December 2020 The Tw31ees are sa*'sfied tha( although the charity not registered underlhe Companv45 Acts. If Stwgre so registered, il would ba digble to prepare accounts in accordance v*th the provisions in Part 15 gf the Comparlles Act 20(￿. appli¢3ble lo compgllies subject to Ihe small corrpanvas regime. M Sherboum¢ Trusts• Approvod by the boar(l of tW6tees on ........l&..1.. t) .... The notes aits¢hed on pag¢8 12 to 19fomi an int•gral part of thèse accounis. 11 The Qonjoi¢)t 8oard of Ekleys ofthe Manch8stsrCongregatlons of SPan￿h and Portuguese Jo Not05 to the Accounts forthe yearended 31 D袕n¥w2020 1 Accounting poh'¢i85 Poli￿￿ rnlaling to thewoduction ol the acco&￿*% B8s150f preparation and ac¢outr)ting convention The accwnls have been PTepared on the ac4ruals batsB. underlhe historicd cost convention, and in accordarsce with Ihe Financlal RepO￿ng Stand4rf a￿l¢able in the UK8nd Repubbc of Ire18nd (FR8 1021 and Accounting and Repothng by Charitie5'. Statement of Recommended prad1￿ app￿cabI8 to charities prepaikng their accounts in a¢￿rdanc? vi¢h the Finan¢aal Reportkng Standard applkable the UKand Republk of Ireland IFRS 1021, Charities SORPIFRS1021. a$ amended by Update 8Ul￿tIn 1. The accounty have been prepared in attordance applicable th4rty law in Endand IhL% belng the Ch8rilies 2011 and Sl 20081629 (Charitieg Accountlng and Reporbng Re￿lIatIonS18￿d, ppnthng the making of rep18cement RegulBtions Spectr￿ to Charlties SORP IFRS1021 in accordance vitth Reg.814lldl ofSI 20081829, thè charity tru5tee& have departed trom the rewirerT*nt Of Reg.8151 by fr>1￿*￿￿g Charifjes SORP IFRS1021 iD5kad of Ch8rities SORP IFRSSEI to the extent neeess8ry to uive a true and fair viewin the circurTtstsnc4$. The cha￿ty Bortsb"ttrtes a public beneflt 8ntity a¥ defved ty FRS102. The ¢*arty i& an unincoEparated trU8treg￿tered in ETrgLqnd. The kxlntipal addreBS olthe charty is Flat 3. 300 Hal8 Road, H8le Be￿￿, Che8hTr, WA15 8SP. Going Concem The TwstÈes are Sabsfied that, atthe tine of approving the finandal 8tatements, ￿T$ 8ppropriate to adtytthe goi nGem b85is in prepBring the finan¢lal statemants. Polkles rFlalbw to caÉowi•s of Income andincoft￿ recognilion. Nthre trf kncome Al incomlng res0w￿5 are ￿duded in the statement of financAal Ètstivi*"e8when the ¢harfty B entsdedto the kncome and Ihe amount can be quantified wih reasoTr8bl8 aLwra¢y. The loloving 5peufic poli￿68 are app1Ed to parOcuLqr categorle8 of irtCOrn&.' Voluntary ineome r6 received by of grants, do￿8*1(￿8 and gts arid ts knduded n full ￿ the statsment of financ481 activ￿e8 %then reGeryable. Dortated servi¢es and faclities ale included at Ihe vèlue tothè charity wtherè Ihls can be quanttfied. The value ofswvices provid￿ by volunteers has notbeen knduded. Incotne from fvrteral fres is inckjded in they88r Inthith re¢eNabk. Dewsits recelved In athance are deferred and I￿UdedIn Cu¢Fent Lia￿Itt￿$. In¢orne from In¥eslm8nts ￿cluded In the yeaT in %thich itr& receivable. Polk1•6 rel4llng lo oyndftur• ongoipd$ 8ndservKe¥pravldedlo the eharty. Recognition of Ilabl]tles and expendilurn Expenditure Is recognlsed on an accrual basls a8 8 fiablty 15 it￿rred. &penditure kncludes any VAT canMt be fully recovered, and is rèport8d 88 parl of Ihe eypÈnthiure to 11 retates. charrtfjb￿ exp8nthJre ￿Mp[Be5 Ihose costs In￿ryed bythe tharity ￿ the delvery ofits actiwlJe8 and servi￿$ for it8 benefriaTte& ttifidudes both cosls Ihat can te allocated dtre¢ttytO 9uth 8(*Mli2s and Ihose Ix)Bts of an hthect natsFre necessary to supportlhem. The Boqrd have for m8nyyear5 had a poKcy ofreserving bltsoks of Southem Cem8tsry for exdugive use by prepaywig au IhÈ burial expen¥es chargeable by Manthester City Ctyjncil on thoÈ? block8. These prepayments are nGluded in wrrent agsets and the appropriate expenilittlre is expevsed the ￿0t5 are ￿ed. Gtsvefft￿￿ costs ￿El￿de those woriated￿1th meetthg the stabJtory requwetnents ofthe tharity. 12 Tho CoDlolnt Board of Ehjern ol the MancheslErCongregation5 of Spahi5h and Pl)￿9U05?Jew5 Notes ¢9 the Accounts for Ihe yÈarended 31 Docembèr202 Polkles rElatry to ass•ts llAtsllllks andprovlths andotherThttw& Fixed Asset Inve5trnents Investments held 88 fixed assets are revalued at n*drfrKrketvdue atthe b8lan¢e sheet date and the gBin or b55 tsken to the thtementof fvwncial acNvJtle6. Financlal instwuments Including cash and bgnk bolancos C8sh held bythe tharity is included at the smount helo and wJnt8d atlhe yew e￿1. BHnk bd8nGES, thotherkn credtt or overdravffi, are shovm atthB amount8 properfyreconuled to the b8nk statements. FundAccounting Unr6Strt¢ted fijnds 8fE a¥alable for u&e at the rf18creUon olthetr￿e8 in fiJrth6ran¢e ofthe gener41 obiocfw88 oflhE eharty. Designated lunts A￿ unrestricted ILFnds earn)8rked by Ihe TrthsfoT p8rboJlar wtPO888. There are no Testrictedfvnd8. There are no endowment 2 LiabltylDtaxatic The Twstees consider Ihat the chw*y s8tisfjes the tests set out h P*awaph 1 Sthedule 6 of the Fin8n¢e Act2010 frjr UK corporation tsx purpc6es. Aecor(ting*, the Charity l& potentially exempt trom taxation n respect of incomè or capital gains rec￿Ved ¥￿thkn categories covered by chapter 3 part 11 of the corpo￿tIorI Tax Act 2010 or Section 256 of Ihe Taxation of Ch8rge8ble GÈin5 Act 1992, to Ihe extent that income or are 8ppWed exdusivety m the spedff¢ charitsblg objects Of the charity and for no other purpose. V81ue Added Tax is Ilot recoverable by the tharty, and is theteftye induded kn the re￿an* w5ts in the S18ternent ofFlnanoal Ath￿¢$. 3 ordissolutlon of the cha￿Y If upon vthding up or dlssolution of Ihe Gharity there retr￿1￿ any assets, aftertha salsfaGdon of 81 debts end fiaLMlile8, the asseL8 repre5enied by the aC￿JMulat6d fvnd Bhall ba transferred to 80n* other tharttsble body or bOd￿S having slmilar obp¢ts tot￿ d)arity. 4 Slun￿anCe of financial instrumBnts to thè charitys posillon There are no SI￿lfic8ntknp￿i￿0ons oftsuth TTthr3. 5 Netsu4th5 before tax In the fin*al y•ar 2020 2019 The net6￿r￿u5 kfore tax ￿ the finanol year is8tsted afterthwgTrg:_ Au￿1￿8.relruneTrtiQn 804 792 13 The Conioint Boani of Eble￿ of the Ma￿h8$1¢1 ¢￿￿ogat￿n$ of Spanish and Portuguese JÈW3 Not25 to the forthe yt•rended 31 D￿+thr2020 8 Remwwration and pa5ments to T¥u5tee5 8nd persryls c