The Charity Registration Number is :- 500074
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Report and Accounts
31 December 2021
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Po
Report and accounts for the year ended 31 December 2021
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Independent auditor's report | 6 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 9 | |
| Movements in funds | 10 | |
| Balance sheet | 11 | |
| Notes to the accounts | 13 |
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Trustees' Annual Report for the year ended 31 December 2021
The Trustees present their Report and Accounts for the year ended 31 December 2021.
Reference and administrative details
The charity name.
The legal name of the charity is:- The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 500074.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews is an unincorporated association. The constituent congregations are:
Manchester Congregation of Spanish & Portuguese Jews (Sha'are Tefillah) Sephardi Congregation of South Manchester (Sha'are Hayim)
The Board was formed under a trust deed dated 23rd November 1913. The trust deed has been revised several times since formation and the current governing document of the Board is a trust deed dated 2nd December 2008.
The trustees are all individuals.
The principal operating address of the charity is:-
Flat 3, 300 Hale Road Hale Barns, Cheshire WA15 8SP
The Trustees who served during the year and were in office on the date the report was approved were:-
M Sherbourne - President & Treasurer R Simon - Vice President A J Leon - Secretary
Finance Committee
M Sherbourne A J Leon E J Cohen D Wolfson R Simon V Labaton
1
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Trustees' Annual Report for the year ended 31 December 2021
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The principal activities and objectives of the charity are the operation of a burial board for The Manchester Congregations of Spanish and Portuguese Jews and the distribution of surplus investment income to other charities.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The Board organised funerals during the year.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The main achievements and performance of the charity during the year.
The charity organised eleven funerals in the year.
The cemetery at Urmston, which is owned by the charity, continued to be maintained.
A contribution was made towards the maintenance of Southern Cemetery.
Structure, governance and management of the charity
The charity's organisational structure.
The Constituent Congregations biennially each appoint six elders to the Board, which also includes the immediate Past President and Honorary Life Elders.
The Board elects from amongst its members five Executive Officers to administer the day-to-day affairs of the Board.
All significant investment or expenditure decisions are made by the Board.
2
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Trustees' Annual Report for the year ended 31 December 2021
Financial review
The charity's financial position at the end of the year ended 31 December 2021
The financial position of the charity at 31 December 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Designated Revenue Funds Total Unrestricted Funds Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Net income |
2021 £ (12,088) 388,035 52,434 440,469 440,469 |
2020 £ (37,867) |
|---|---|---|
| 402,557 50,000 |
||
| 452,557 | ||
| 452,557 |
Financial review of the position at the reporting date, 31 December 2021 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
The 10% provision made against purchased burial plots due to the trustees decision on access and usability has been maintained.
Policies on reserves.
The charity aims to hold sufficient free reserves to cover operational expenses.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Investment policy and investment objectives.
There are no restrictions on the charity's power to invest. The investment strategy is set by the trustees. This policy is set within an overall policy of investing in low risk investments.
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The trustees consider that the major risk the charity faces is a loss of members within the Sha'are Hayim Congregation. This risk is mitigated by the close-knit nature of the community.
Plans For the Future
The Trustees will continue to manage the charity with the aim that it has sufficient reserves to fund future burials and maintenance.
3
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Trustees' Annual Report for the year ended 31 December 2021
Details of The Auditor
Langer & Co Chartered Accountant & Statutory Auditor 8-10 Gatley Road Cheadle Cheshire SK8 1PY
Statement as to disclosure of information to auditors
The trustees state that so far as each of the trustees at the time this report was approved are aware:-
- a) There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and
b) The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information.
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). - select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of
recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
4
The Conjoint Boud ol Elders ofthe ManchEi•r Congr•olknns ot Spanish and Portuguèsè Jèws rrust40s' Annual R¢portforthe Jwr ended 31 Dec4ml)¢T 2021 The Trn5tees ore s[[b for the rxJThtÈnts of thÈTr¢tsteÉs' rerx)rL and Slatuiory resp)rtsitM5ty of the 0Or in rdeb.on to the TnBtees' r8POrt K8 linuted to exarrdrmng the reFQrt and erurtng Ih8t. the ryrtls L))rls1ent 1th th8 ffig diSCh8d in lh8 finanual sla18rn8rts. 9 August 2022 Tllls re[WaS apprcved ty th8 board dInlee5 on ................................ M Sherbowne Tsts8
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Independent auditors' report to the trustees of The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Opinion
We have audited the financial statements of The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011. 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 auditor's 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 the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2021, and of its incoming resources
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● and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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the trustees use of the going concern basis of accounting in the preparation of the financial statements is not
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● appropriate; or
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the trustees have not disclosed in the financial statements any identified material uncertainties that may cast
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significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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.
6
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the Trustees Annual
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● Report; or
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proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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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 set out on page 4, the trustees are responsible for the preparation of financial statements and for being satisfied that they 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.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditors under section 145 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 auditor’s 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 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:
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
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Enquiries of management, including obtaining and reviewing supporting documentation, concerning policies and
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● procedures relating to:
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identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance
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detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; and
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the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
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remuneration policies, key drivers for remuneration and bonus levels; and Discussions among the engagement team regarding how and where fraud might occur in the financial statements
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and any potential indicators of fraud. The engagement team have experience of working with charities and this experience was relevant to the discussion about where fraud risks may arise.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the charity operates in. The key laws and regulations we considered in this context included the UK Charities Act, FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland and Charities SORP(FRS102).
7
Idenflfylng and assèssing Potential ri$ks rplated to irTegularitleg As a su of perfonyllng thg ab, dKI not identfy any key athlit matters related to the potential risk of fra1 or non- ¢ompliance vAth and regulalions. In addrtion to the above. CilT procedures to reswjnd to risks ithntified iicluikd the fr)IlovAng: ReviewThJ the financpal stAtement discksures and testing to supyorts"NJ dotsJrn£ntabon b assess comF4ianee vAlh promsions of relevant laws and ¥slatiOnS described as h1¥4 x thT8rt eff tsn thè financigl stxttsynènts: Enquiring of managenrrt corteming aclual and tential Irfigatn and daims,. Perfoirng analyb.cal kYoceOJs to identty any UnLku or un8xped8d reI8tiMshi that may indteatè kS of ftBteri misstatsm$nt dug to fr4ud,' Reading minutes ol meebn9s oft)$6 charged ilh y0ManCe 8nd (en9 coresndenCe •th relevant authorities irKluofing Charity conls$10n and HMRC," In addressing the risk offraud thrgh managementoverride ofntrr1S, tesling the apprryrialeness ofjournal antiies and other arfiu$trwts,' a$$essing lthother the judpnwnt$ mad$ in makn.ng aCCOLthting estimates Are lrtdicati of a Fbtents'al bias," and •v8luating the sin8s$ raliona]e of any sigr]rfKant transxtions that are unusual or outsith the nml course of business. We also communicated relevant Kaentified laws and Tegulations and [tentIal risks to all engageont team members and mained 2rt to any in(fiGqtions DffTaud tsrnon-comFliance bwth tavrs and regulatons thmjghout the audit. A furtherdescriptK)n of our reswnsibilities f( Ihe ofthe fantral stskm9nts is locatsd on thg Financial Rekx)i*ng CouncAI's website atvMw.frc.¢yg.ukJauditorsresponsitAlities. This description forts Fort of our auditorfs report. /£ A4 1.262 Langer Chartered Aecounlant and statutoryAudttor &10 &tley Road Cheadle Cheshi SK81PY Langer & Co is ellble for wointment as au(5tor of the vir0 tsf its ditybility for appouthienl as awjitorol a comparry under s•elion 1212 of th• Coff18 Ac120L
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews - Statement of Financial Activities for the year ended 31 December 2021
Statement of Financial Activities for the year ended 31 December 2021
| Current year Unrestricted Funds 2021 £ Income & Endowments from: Charitable activities A2 46,350 Investments A4 4,783 Other A5 1,680 Total income A 52,813 Expenditure on: Charitable activities B2 64,901 Total expenditure B 64,901 Net income for the year (12,088) Net income after transfers A-B-C (12,088) (12,088) Reconciliation of funds:- E Total funds brought forward 452,557 Total funds carried forward 440,469 SORP Ref Net movement in funds |
Current year Restricted Funds 2021 £ - - - - - - - - - - - |
Current year Total Funds 2021 £ 46,350 4,783 1,680 52,813 64,901 64,901 (12,088) (12,088) (12,088) 452,557 440,469 |
Prior Year Total Funds 2020 £ 37,596 5,758 1,881 |
|---|---|---|---|
| 45,235 | |||
| 83,102 | |||
| 83,102 | |||
| (37,867) | |||
| (37,867) | |||
| (37,867) 490,424 |
|||
| 452,557 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The notes attached on pages 13 to 20 form an integral part of these accounts.
9
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews - Statement of Financial Activities for the year ended 31 December 2021
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews - Resources applied in the year ended 31 December 2021 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities Movements in revenue and capital funds for the year ended 31 December 2021 |
2021 £ (12,088) (12,088) |
2020 £ (37,867) |
|---|---|---|
| (37,867) | ||
Revenue accumulated funds
| Unrestricted Restricted Funds Funds 2021 2021 £ £ Accumulated funds brought forward 452,557 - (12,088) - 440,469 - Closing revenue funds 440,469 - Designated revenue funds included within the unrestricted funds above At 1 January At 31 December Recognised gains and losses before transfers |
Total Funds 2021 £ 452,557 (12,088) 440,469 440,469 Total Funds 2021 £ 50,000 50,000 |
Last year Total Funds 2020 £ 490,424 (37,867) |
|---|---|---|
| 452,557 | ||
| 452,557 | ||
| Last year Total Funds 2020 £ 50,000 |
||
| 50,000 |
The purposes for which these funds have been designated are described in Note 17 to the accounts.
| Summary of funds Unrestricted and Designated funds 2021 £ Revenue accumulated funds 390,469 Revenue designated funds 50,000 Total funds 440,469 |
Restricted Funds 2021 £ - - - |
Total Funds 2021 £ 390,469 50,000 440,469 |
Last Year Total Funds 2020 £ 402,557 50,000 |
|---|---|---|---|
| 452,557 |
The notes attached on pages 13 to 20 form an integral part of these accounts.
10
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews - Balance Sheet as at 31 December 2021
| SORP | ||||||
|---|---|---|---|---|---|---|
| Notes | Ref | 2021 | 2020 | |||
| £ | £ | |||||
| Fixed assets | A | |||||
| Investments held as fixed assets | 8 | A4 | 15,850 | 15,850 | ||
| Current assets | B | |||||
| Debtors | 9 | B2 | 179,080 | 185,389 | ||
| Cash at bank and in hand | B4 | 294,729 | 304,551 | |||
| Total current assets | 473,809 | 489,940 | ||||
| Creditors: amounts falling due within | ||||||
| one year | 10 | C1 | (1,011) | (1,804) | ||
| Net current assets | 472,798 | 488,136 | ||||
| 488,648 | 503,986 | |||||
| Net assets | ||||||
| Creditors: amounts falling due after more | ||||||
| than one year | 11 | C2 | (48,179) | (51,429) | ||
| The total net assets of the charity | 440,469 | 452,557 | ||||
| The total net assets of the charity are funded | by the | funds of the | charity, as follows:- |
| Unrestricted Funds Unrestricted Revenue Funds 14 D3 390,469 Designated Funds Designated Revenue Funds 14 D3 50,000 Total charity funds |
402,557 390,469 50,000 50,000 440,469 |
402,557 50,000 |
|---|---|---|
| 452,557 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 8.
11
The Conjoint Board of Elder5 of the Manchester Congregatlons of Spanish and Portuguese Jews- Balance Sheet as at 31 December 2021 The TNstees are $4isfied tha( allhough the thanty is Mt lSre undw the Compan3 Ads. rf itwere so règistered, itw)uld be digible to PTep8rè acLYJUDts in Nsith Ihe wovi%ions in Part 15 of th8 Companhès Act 2006. applicab kn COfwonie$ subjed lo the small WTrTJans regime. Pli Sh•rbctum• Truste• Approved by b)ard Lrf Imstses C ........... The notes atla¢d on 13 to 20forn) an ititewal part accixuts. 12
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Notes to the Accounts for the year ended 31 December 2021
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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), Charities SORP(FRS102), as amended by Update Bulletin 1.
The accounts have been prepared in accordance with applicable charity law in England this being the Charities Act 2011 and SI 2008/629 (Charities Accounting and Reporting Regulations) and, pending the making of replacement Regulations specific to Charities SORP (FRS102) in accordance with Reg.8(4)(d) of SI 2008/629, the charity trustees have departed from the requirement of Reg.8(5) by following Charities SORP (FRS102) instead of Charities SORP (FRSSE) to the extent necessary to give a true and fair view in the circumstances.
The charity constitutes a public benefit entity as defined by FRS102.
The charity is an unincorporated trust registered in England. The principal address of the charity is Flat 3, 300 Hale Road, Hale Barns, Cheshire, WA15 8SP.
Going Concern
The Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements.
Policies relating to categories of income and income recognition.
Nature of income
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Income from funeral fees is included in the year in which it is receivable. Deposits received in advance are deferred and included in Current Liabilities.
Income from investments is included in the year in which it is receivable.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
The Board have for many years had a policy of reserving blocks of Southern Cemetery for exclusive use by prepaying all the burial expenses chargeable by Manchester City Council on those blocks. These prepayments are included in current assets and the appropriate expenditure is expensed when the plots are used.
Governance costs include those costs associated with meeting the statutory requirements of the charity.
13
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Notes to the Accounts for the year ended 31 December 2021
Policies relating to assets, liabilities and provisions and other matters.
Fixed Asset Investments
Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities.
Financial instruments including cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
There are no restricted funds.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
There are no significant implications of such matters.
5 Net surplus before tax in the financial year
| 2021 | 2020 |
|---|---|
| £ | £ |
The net surplus before tax in the financial year is stated after charging:-
Auditors' remuneration 816 804
14
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Notes to the Accounts for the year ended 31 December 2021
6 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
7 Deferred income - Unrestricted and Designated funds
| Current Year Prepaid funeral fees Total These deferrals are included in creditors Prior Year Prepaid funeral fees Total These deferrals are included in creditors |
Opening Deferrals £ 51,429 |
Released from prior years £ (4,450) |
Received less released in year £ 1,200 |
Deferred at year end £ 48,179 |
|---|---|---|---|---|
| 51,429 | (4,450) | 1,200 | 48,179 | |
| Opening Deferrals £ 52,779 |
Released from prior years £ (2,550) |
2021 £ 48,179 |
2020 £ 51,429 |
|
| Received less released in year £ 1,200 |
Deferred at year end £ 51,429 |
|||
| 52,779 | (2,550) | 1,200 | 51,429 | |
| 2020 £ 51,429 |
2019 £ 52,779 |
Prepaid funeral fees comprises fully prepaid funeral fees, desposits and purchased burial plots.
8 Investments held as fixed assets
| Carrying values of investments At 1 January 2021 At 31 December 2021 Analysis between fair value and historical cost Analysis of Other Classes of Investment Other investments At 1 January 2021 At 31 December 2021 Summary of other classes of investments at 31 December 2021 Other investments |
Other Classes of Investment £ 15,850 |
Total £ 15,850 |
|---|---|---|
| 15,850 | 15,850 | |
| Included at fair value £ 15,850 |
Total £ 15,850 |
|
| 15,850 | 15,850 | |
| 15,850 | 15,850 |
15
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Notes to the Accounts for the year ended 31 December 2021
9 Debtors
| Trade debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Accruals 11 Creditors: amounts falling due after one year Deferred Income - Unrestricted & designated funds |
2021 £ 7,700 171,380 |
2020 £ 9,600 175,789 |
|---|---|---|
| 179,080 | 185,389 | |
| 2021 £ 1,011 |
2020 £ 1,804 |
|
| 1,011 | 1,804 | |
| 2021 £ 48,179 |
2020 £ 51,429 |
|
| 48,179 | 51,429 |
12 Related party transactions
During the year the Board made donations totalling £45,000 (2020 £56,740) to the Sephardi Congregation of South Manchester (known as the Sha'are Hayim Congregation), charity number 1067759, a charity on which AJ Leon is a trustee and R Simon is a member of the Management Committee.
13 Particulars of how particular funds are represented by assets and liabilities
| At 31 December 2021 Investments at valuation:- Fixed asset investments Current Assets Current Liabilities Long Term Liabilities At 1 January 2021 Investments at valuation:- Fixed asset investments Current Assets Current Liabilities Long Term Liabilities |
Unrestricted funds £ 15,850 423,809 (1,011) (48,179) |
Designated funds £ - 50,000 - - |
Restricted funds £ - - - - |
Total Funds £ 15,850 473,809 (1,011) (48,179) |
|---|---|---|---|---|
| 390,469 | 50,000 | - | 440,469 | |
| Unrestricted funds £ 15,850 439,940 (1,804) (51,429) |
Designated funds £ - 50,000 - - |
Restricted funds £ - - - - |
Total Funds £ 15,850 489,940 (1,804) (51,429) |
|
| 402,557 | 50,000 | - | 452,557 |
16
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Notes to the Accounts for the year ended 31 December 2021
14 Change in total funds over the year as shown in Note 13 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Designated Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2020 £ 402,557 50,000 |
Movement in funds in 2021 See Note 15 £ (9,654) (2,434) |
Transfers between funds in 2021 See Note 16 £ (2,434) 2,434 |
Funds carried forward to 2022 £ 390,469 50,000 |
|---|---|---|---|---|
| 452,557 | (12,088) | - | 440,469 | |
| 452,557 | (12,088) | - | 440,469 |
15 Analysis of movements in funds over the year as shown in Note 14
| Unrestricted and designated funds:- Unrestricted Revenue Funds Designated Revenue Funds |
Income 2021 £ 52,454 359 |
Expenditure 2021 £ (62,108) (2,793) |
Other Gains & Losses 2021 £ - - |
Movement in funds 2021 £ (9,654) (2,434) |
|---|---|---|---|---|
| 52,813 | (64,901) | - | (12,088) |
16 Details of transfers between funds in the year as shown in Note 14
| To/(from) Designated Revenue Funds Net transfers To/(from) Unrestricted Revenue Funds The transfers shown in note 14 above are:- |
2021 £ (2,434) 2,434 |
|---|---|
| - |
Net transfers
17 The purposes for which the funds as detailed in note 14 are held by the charity are:-
Unrestricted and designated funds:- Unrestricted Revenue Funds
Designated Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
Designated Maintenance Fund. Under the terms of an agreement dated 12 December 2000 as amended in August 2007 the Trustees agreed that a fund of £50,000 should be set aside and the income and capital designated to be used for the maintenance and upkeep of the graves and cemeteries.
17
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by the SORP (FRS102)
This analysis is classified by conventional nominal descriptions and not by activity.
18 Income from charitable activities - Trading Activities
| Current year Primary purpose and ancillary trading Total Primary purpose and ancillary trading Funeral Fees |
Current year Unrestricted Funds 2021 £ 46,350 |
Current year Restricted Funds 2021 £ - |
Current year Total Funds 2021 £ 46,350 46,350 |
Prior Year Total funds 2020 £ 37,596 |
|---|---|---|---|---|
| 46,350 | - | 37,596 |
All the income in the prior year was unrestricted
19 Total Income from charitable activities
| Current year Total income from charitable trading Total from charitable activities A2 All the income in the prior year was unrestricted |
Current year Unrestricted Funds 2021 £ 46,350 |
Current year Restricted Funds 2021 £ - |
Current year Total Funds 2021 £ 46,350 46,350 |
Prior Year Total Funds 2020 £ 37,596 |
|---|---|---|---|---|
| 46,350 | - | 37,596 | ||
20 Investment income
| Dividend Income Bank Interest Receivable Total investment income A4 All the income in the prior year was unrestricted |
Current year Unrestricted Funds 2021 £ 1,585 3,198 |
Current year Restricted Funds 2021 £ - - |
Current year Total Funds 2021 £ 1,585 3,198 4,783 |
Prior Year Total Funds 2020 £ 1,585 4,173 |
|---|---|---|---|---|
| 4,783 | - | 5,758 | ||
21 Other income and gains
| Current year Total other income A5 Commission on memorials |
Current year Unrestricted Funds 2021 £ 1,680 |
Current year Restricted Funds 2021 £ - |
Current year Total Funds 2021 £ 1,680 1,680 |
Prior Year Total Funds 2020 £ 1,881 |
|---|---|---|---|---|
| 1,680 | - | 1,881 |
All the income in the prior year was unrestricted
18
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by the SORP (FRS102)
22 Expenditure on charitable activities - Direct spending
| Current Year Total direct spending B2a Insurance Funeral expenses Prepaid funeral expenses released Other expenses Prepaid funeral plot restatement Cemetery maintenance - Urmston Prepaid funeral plot provision Cemetery maintenance - Southern |
Current year Unrestricted Funds 2021 £ 12,250 3,804 2,260 533 67 551 (380) - |
Current year Restricted Funds 2021 £ - - - - - - - - |
Current year Total Funds 2021 £ 12,250 3,804 2,260 533 67 551 (380) - 19,085 |
Prior Year Total Funds 2020 £ 10,270 4,384 2,380 197 164 434 16,804 (9,075) |
|---|---|---|---|---|
| 19,085 | - | 25,558 |
23 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grantmaking costs B2c Current Year The Sephardi Congregation of South Manchester Breakdown of Grants made to organisations Prior Year The Sephardi Congregation of South Manchester Grants made to organisations Breakdown of Grants made to organisations |
Current year Unrestricted Funds 2021 £ 45,000 |
Current year Restricted Funds 2021 £ - |
Current year Prior Year Total Funds Total Funds 2021 2020 £ £ 45,000 56,740 |
|---|---|---|---|
| 45,000 | - | 45,000 56,740 |
|
| Current year Unrestricted Funds 2021 £ 45,000 |
Current year Restricted Funds 2021 £ - |
Current year Total Funds 2021 £ 45,000 45,000 Prior Year Total Funds 2020 £ 56,740 56,740 |
|
| 45,000 | - | ||
| Prior Year Unrestricted Funds 2020 £ 56,740 |
Prior Year Restricted Funds 2020 £ - |
||
| 56,740 | - |
During the year the Board made a grant in line with its charitable objects.
19
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews
Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by the SORP (FRS102)
| 24 Other Expenditure - Governance costs Current Year Auditor's fees Total Governance costs 25 Total Charitable expenditure Current Year Total direct spending B2a Total grantmaking costs B2c Total Governance costs B2e Total charitable expenditure B2 All the expenditure in the prior year was unrestricted. |
Current year Unrestricted Funds 2021 £ 816 |
Current year Restricted Funds 2021 £ - |
Current year Total Funds 2021 £ 816 816 Current year Total Funds 2021 £ 19,085 45,000 816 64,901 |
Prior Year Total Funds 2020 £ 804 |
|---|---|---|---|---|
| 816 | - | 804 | ||
| Current year Unrestricted Funds 2021 £ 19,085 45,000 816 |
Current year Restricted Funds 2021 £ - - - |
Prior Year Total Funds 2020 £ 25,558 56,740 804 |
||
| 64,901 | - | 83,102 | ||
20