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 :-
- 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;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- 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 ManchE*i•r Congr•o*lknns 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:
- give a true and fair view of the state of the charity's affairs as at 31 December 2021, and of its incoming resources
- ● and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- 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:
- the trustees use of the going concern basis of accounting in the preparation of the financial statements is not
- ● appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast
- 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:
- the information given in the financial statements is inconsistent in any material respect with the Trustees Annual
- ● Report; or
- proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- 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:
- Enquiries of management, including obtaining and reviewing supporting documentation, concerning policies and
- ● procedures relating to:
- identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; and
- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- 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
- 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$ks rplated to irTegularitleg
As a su of perfonyllng thg ab, dKI not identfy any key athlit matters related to the potential risk of fra1 or non-
¢ompliance vAth and regulalions.
In addrtion to the above. CilT procedures to reswjnd to risks ithntified iicluikd the fr)IlovAng:
ReviewThJ the financpal stAtement disck*sures and testing to supyorts"NJ dotsJrn£ntabon b assess comF4ianee vAlh
promsions of relevant laws and ¥slatiOnS described as h1¥4 x thT8rt eff tsn thè financigl stxttsynènts:
Enquiring of managen*rrt corteming aclual and tential Irfigatn and daims,.
Perfoirng analyb.cal kYoceOJs to identty any UnLk*u or un8xped8d reI8tiMshi that may indteatè kS of
ftBteri misstatsm$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.
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Chartered Aecounlant and
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&10 &tley Road
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Langer & Co is ellble for wointment as au(5tor of the vir0 tsf its ditybility for appouthienl as awjitorol a
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## **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