The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews Annual Report and Audited Financial Statements for the financial year ended 31 December 2023 Charity Number. 500074
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews CONTENTS Page Reference and Administrative Information Trustees, Report Statement of Trustees, Responsibilities Independent Auditols Report Statement of Financial Activities 10 Balance Sheet Notes ID the Financial Statements 12-16
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews REFERENCE AND ADMINISTRATIVE INFORMATION Trustees M Sherbourne R Simon AJLeon Charlty Number In England and Wales $00074 Prlnclpal Address Flat 3. 3CKI Hale Road Hale Bams Cheshire WA15 8SP Untled Kingdom Audltors Langer & Co Chartered Accountants and Stalulory Auditors 8-10 Gatley Road Cheadle Cheshire SK81PY United 'ngdoM
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews TRUSTEES. REPORT for the financial year ended 31 December 2023 The trustees present their Twstees, Report and the audited financial slalement5 for the financial year ended 31 December 2023 The financial slalemenls have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practi[seCOnd edition) and Financial Reporting Standard FRS 102. Mission, Objgctives and Strategy Objectives The principal activities 8nd objectives of the charity are the operation of a burial board for The Manchester Congregations of Spanish and Portuguese Jew5 and the distribution of surplus investrnent income to other charities. Structure, Governance and Management Structure The Constituent Congregations biennially each appoint six eklers lo the Board, which also includes the immediate Past President and Honorary Life Elders. The Board elects from amongst ils members five Executive offi[$ lo administer the day-lo-day affairs of the Board. All significant investment or expenditure deusions are made by the Board. Finance Committee Flnance Comrnittoe M Sherbourne AJLeon E J Cohen D Wcltson R Simon Review of Activities, Achievements and Perforniance The Board organised funerals during the year. The Iruslees have had regard lo the Charlty Commission's guidance on public benefit in managing th8 activities of th8 charity. The charity organised eighteen funerals In th8 year. Thè c*metery al UstOn. which is owned by the tharity, continued to be maintained. A contribution was made towards the maintenance of Southem Cemetery. Flnancial Review The results for the financial year are set out on page 10 and additional notes are provided showing income and expenditure in greater detail. Results Al the end of the financial year the charity has assets of £4.132 (2022 - £492.964} and liabilities of £54,29512022 - £52,705}. The nel assets of the charity have increased by £1.578. Reserves Pogltlon and Policy The charity aims to hold sufficient free reserves to cover operational expenses. Availability and adequacy of assets of each of the funds The board ol Iruslees is satisfied that the charity's assets in each fvnd are available and adequate to [flI ils obligations in respect of each fund.
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews TRUSTEES. REPORT for the finanual year ended 31 December 2023 Investrnent policy and Investment objectives. There are no restrictions on the charity's power lo invest The investment strategy is sel by the trustees. This policy is set within an overall policy of investing in low-risk investments. Th9 major risks to whlch the Charity is exposed and revIeV and sy$tem5 to mitigate them. The Iruslees consider that the major risk the charity faces is a loss of members within the Sha'are Hayim Congregation. Thi5 risk is mitigated by the close-knil nature of the community. Plans For the Future The Trustees will continue lo manage the charity with the aim that it has sufficient reseNes to fund future burials and maintenance. Approved by the Board of Trustaes on and signed on Its bohalf by: Sherbourne Truste•
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 December 2023 The Iruslees are responsible for prepanng the financial statements in accordan with applicable law and regulations. The law applicable to charities in EThJland and Wales requires th8 trustees to prepare financial statements for each financial year which give a true and fair view of the assets. liabilities and financial position of the charity as at the financial year end dale and of the surplus or defiat of the charity and otherwise comply with the Charities Act 2011. In prgparing these financial statements, the Iruslees are required to: select suitable accounting policies and apply them consistently: make judgements and accounting eslimales that are reasonable and pruder)t'. stale whether the financial statements have been prepared in accordance with applicable accounting 51andard5. identify those standards, and note the effect and the reasons for any material departure from those standards., and pr8pare the financial ststements on the going concern basis unless it is inappropriate to pSuMe that the charity will continue in operation. The trustees wnfirm thal they have complied with the above r8quirements in preparing the financial statements. The Iruslees are responsible for keeping adequate accounting racords that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any bme the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. Thèy are also responsible for safeguarding the assets of the charity and h8nce for laking reasonable steps for the prevenlion and detection of fraud and other irregularities. Approved by the Board of Trustees on and slgned on its behalf by: M Sherbourne Trustee
INDEPENDENT AUDITOR'S REPORT to the Members of The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews Report on the audit of the financial statements Opinlon We have audited the charity finanryal slalements of The Conjoint Board of Elders of the Manchester Congregations ol Spanish and Portuguese Jews I'the charity.) for the financial year ended 31 Dember 2023 which comprise the Statement of Financial Aclivits"es, the Balance Sheet and notes lo the financial statements. including the summary of significant accounting policies sel out in note 2. The finanaal reporting framework that has been applied in their prgparation is applicable law and United lQ"ngdom Accounting Standards. Including FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of Ihat Standard and Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with FRS 102. In our opinion, when reporting in accordance with a fair presentation framework the financial stalemenls.. give a true and fair view of the state of the charity's affairs as at 31 Dember 2023 and of its surplus for the financial year then ended., have been properly prep8red in accordance wth United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. 8asis for opinion We conducted our audit in accordance with Intematsonal Standards on Auditing IUKI IISAS (UKII and applicable law. Our responsibilities under those standards are fvrther described in the Audilorfs responsibilities for the audit of the financi81 statements seclion of our report. We are independent of the chanty in accordance with ethical requirem$nts that are rèlèvant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we hav fulfilled our other ethical responsibilities in accordance with thesé requirements. We believe that the audit evidence we have obtainecl is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls. we hav8 concluded that th8 trustees, use of the going concern basis of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not id&ntified any material uncertainties relating to events or conditions th81, individually or collectively, may casl significant doubl on the charity's ability to continue as a going concern for period ol al least twelve months from the dale when the financial statements are aulhorised lor issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relèvant sections of this report. Other Informatlon The other information comprises the infomiation induded in the annual report other than the financial slalements and our Auditor's Report Ihereon. The trustees are responsible for the other infomalion contained within the 8nnu81 report. Our opinion on the financial statements does not cover the other information and, excèpt lo the exlenl otherwise explicitly slated in our report, we do not express any forrn ol assurance conclusion thereon. Our responsibility is lo read the other infomiation and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. Ifwe identify such material inconsistenThes or apparent material misslatemenls, we are required lo determine whether this gives rise lo a material misstatement in the financral statements themselves. 11, based Dn the work we have performed, we conclude that there is a material misstatement of this other information. we are requiied lo report that fact. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT to the Members of The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews Matters on whlch we are required to report by exception In the light ol our knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the lollowing matters where the Charits'es Act 2011 requires us lo report lo you if, in oui opinion-. adequate accounting records have not been kept.. or the financial statements are not in agreemènt wlh the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the informatson and explanations we require for our audit. the Iruslees were not entitled to prepare the financial statements in accordance with the small companies regime and lake 8dvanlage of the small companies, exemption in preparing the Trustees, Annual Report. Responsibilities of trustees for tho Ilnanclal ststsments As explained more fully in the Statement of Trustees, Responsibilities sel out on page 6. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true ar)d fair view. and for such internal control as they determine is ne$sary lo enable the preparation of financial statements that are free from mal&rial mi5slalement, whether due lo fraud or error. In preparing the linanaal slalements, the Iwstees arè responsible for assessing the charity's 8bilily lo continue as a going concern, disclosing, as applicable, matters related 10 90ing concern and using the going concern basis ol accounting unless management eith8r intends lo liquidate the charity or to ceas& operations, or has no realistic allernalive bul lo do so. Audltor'g re$ponsibilitl•s for the audit of the flnan¢lal ststements Our objectives are lo obtain reasonable assurance about whether (he financial statements as a whole are free from material misslalement, whelher (Jue lo fraud or error. and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misslalemenl when il exists. Misslatemenls can arise from fraud or error ar)d are considered material if, individually or in the ag9regaie, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-complian( with laws and r8gulalions. We design procedures in line with our responsibilities, outlined above, to delect material misslalemenls in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities. including fraud is detailed below.. Our approach lo identifying and assessing the risks of material misslalement in respect of irregularities, including fraud and non-compliance wilh laws and regulations. was as follows: .Ihe engagement partner ensured that Ihe engagement team colleth.vely had the appropriate competence. capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations., *we identified the laws and regulations applicable to the charity through discussions with trustees, and from Dur commercial knowledge and experience ol the charity sector, 'we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, anti- bribery, employment. environmental and health and safety legislation.. 'we a5se55ed the exlenl of compliance with the laws and gUlationS identified above through making enquiries of Iruslees and inspecting legal correspondence.. and .idenlified laws and regulations were communicated wthin the audit team regularly and the team remained alert lo instances of non-compliance throughout the audit. We assessed the susceptibility of Ihe charity's financial slalements lo material misstatement, including obtaining an understanding of how fr8ud rnight occur. by.. 'making enquiries of Iruslees as to where they cnnsidered there was suscepts'bility to fraud, their knowledge of actual, suspected and alleged fraud., .considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations., and To address the risk of fraud through management bias and override of controls, we.. "performed analytical procedures lo identify any unusu81 or unexpected relationships.. .lesled journal entries lo identify unusual transactions". 4855essed whether judgements and assumptions made in detemiining the accounting estimal&s were indicative of potential bias.. 'inve5tigated the rationale behind signifi(znt or unusual transactions. and In response to the risk of irregularib'es and non•compliance with laws and regulations. we designed procedures which included, bul were not limited to.. 'agr8eing financial slalement disc105ures lo underlying supporting d(UmentatiOn., .reading the minutes of meetings of those charged with governance- ienquiring of trustees as to actual and polenb-al litigation and dairns.. •reviewing correspondence with HMRC. the Charity Commission and the chan 's legal advisor5-. and
INDEPENDENT AUDITOR'S REPORT to the Members of The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews There are inherent limitations in our audil produreS described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-Gompliance. Auditing standards also limit the audit procedures required to A further description of our responsibilitres for the audit of the financial st21ementS 15 located on the Finanaal Reporting Council'5 websrte at www.frc.org.uklauditorsresponsibilities. This description forms part of our Auditorfs Report. Langer & Co is eligible for appointment as auditor of the charity by virtue of ils eligibility for appointment as audilor of a company under section 1212 of the Companies Act 20C6. The purpos0 of our audlt work and to whom we owe our responsibllltles This report is madesolely to the charity's members, as a body. in accordan ¥Mth Chapter3 of Part 16.ofthe Companies Act 2006. Our audit work has been undertaken so that we might stste to the charity's members those matters we are required 10 51ale lo them in an auditorfs report and for no other purpose. To the lIest extent permilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report. or for the opinions we have formed. LANGER Chartered Accountants and Ststulory Auditors 8-10 Galley Road Cheadle Cheshirè SK81PY United Kingdom
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 Dernber 2023 Unrg¥tTlcted Funds 2023 Totsl Unrestricted Funds Funds 2023 2022 Total Fund5 2022 Notes Income Donation5 and legacies Charitable activities Burial Society Inveslmenis Other income 9,023 9,023 85,212 10,478 2.246 85,212 10,478 2,246 43,400 5.258 2.189 43,400 5,258 2.189 Total income 106,959 106,959 50,847 50,847 Expènditure Charitable a1VitieS 105,381 105,381 51.057 51,057 Net Incomellexpendlture) 1,578 1.578 {2101 1210) Transfers between funds Net movement In funds for the flnanclal year 1,578 1,578 (210) 1210) Reconclliation of funds: Total funds beginning of th6 y6ar 12 440,259 440,259 440,469 440,469 Total funds at the end of the year 441,837 441,837 440,259 440,259 The Statement of Financial Activities includes all gains and losses recc¥3nised in the finan81 year. All in¢cYne and expenditure relate lo continuing aCtiml$. The leS on page5 12 10 16 form part of the finanaal stalemenls 10
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews BALANCE SHEET as al 31 December 2023 2023 2022 Notes Fixed Assets Investments 15.850 15,850 Current A53ets Debtors Cash al bank and in hand 182,284 297.998 186.174 290,940 480,282 477,114 Credltor8: Amounts falllng due wlthin one year Net Current Assets 112,318) (4,638) 467.964 472,476 Total Ass&ts16s8 Currant Liabllitie8 483,814 488,326 Deferred incomo 10 141,9771 148,0671 Total Nel Assets 441.837 440.259 Funds Designated funds Iunreslrictedl GeneTal fund lunrestrictedl 50.000 391.837 so,ooo 390.259 Total funds 12 441.837 440,259 The fInarnal statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime and in accordan with FRS 102 'Tre Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Stsndard. Approved by the Board of Tru8tees and authorlsed for18sue on behall by and Slgned on Its M Sh9rbourne Trustee The note5 on pages 1210 16 fotm part Oft rinancial statements 11
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 DecÉmber 2023 GENERAL INFORMATION The Conjoint Board of Elders of the Manchester Congregatsons of Spanish and Portuguese Jews is a charity incorporated in the United Kingdom. The registered Offi of the charity is Flat 3, 300 Hale Road, Hale Barns, Cheshire, WA15 8SP, United Kingdom which is also the principal place of business of the charity. The financial slalemenls have been presented in Pound l£} which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been appli consistently in dealing with items which are consid8red material in relation to the charity's financial statements. Basis of preparation The financial statements have been ppared on the going concem basis under the historical cost convention. modified lo include certain items at fair value. The financial statement5 have been prepared in accordance with the Statement of Recommended Practice ISORP} "Accounting and Repoitng by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland FRS 102" applying Section 1A of that Standard. As permitted by the Companies Act 2006. the charity has varied the standard formats in that act lor the Slalement of Financial ActivitEs and the Balance Sheet Departures from the standard formats are lo comply with the quirements of the Charities SORP and a in Complian with section 4.7, 10.6 and 15,2 01 that SORP. Statement of compllance The financial slalements of tha charity lor the financial year ended 31 December 2023 have been pr&pared on the going concem basis and in accordan with the Statement of Recommended Practice {SORPI Accounting and Reporting by Charities preparing their accounls in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applylng Section 1A of that standard. Fund accounting The following are the categories of funds maintained= Restrlcted funds There are no restricted funds Unrestrl¢ted funds Unreslricled funds Consist of General and Designated funds. General funds repsent amounts which are éxpendable at thé discretion of the board, in lurtheranee of the objectives of the charity. Designated funds comprise unrestricted funds that tho board has, al its discretion, sel aside for particular purposes. These designations have an adminislralive purpose only. and do not legally restrict the board's discretion to apply the fund. Endowment funds There are no endowment funds Income Income is recognised by inclusion in the Statement of Financial Activlties only when the charity is legally entitled to the income, performance conditions attached to the itemlsl of income have been met. the amounts involved can be measured with sufficient reliability and it is probable that the income will be reIved by the charity. Income from Charltsble activities Income from charitable activities indude income eamed from the supply of services under conlraclual arrangements and from perfomiance related grants which have conditions that specify the provision Df particular ServIS lo be provided by the charity. IncoTne from govemment and other co-fur)ders is recognised when the charity is legally entitled to the income because it is fulfilling the (x)nditions contained in the related funding agTgements. Wnere a grant is received in advance. ils recognition is deferred and included in creditor5. Where entitlement occur5 before income is recEived. it is accrued in debtors_ Grants from governments and other co-funders typically include one of Ihe following types of condib'ons.. 12
conb.nued The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews NOTES TO THE FINANCIAL STATEMENTS for the finanual year ended 31 Dember 2023 Perforrnan based conditions." whereby the charity is contractually entitled to funding only to the exlenl that the core objectives of the grant agreement are achieved. There the charity is meeting the core objectives of grant agreement, it recogni5es the related expenditure. to the extent that it is reimbursable by the donor, a5 income. .Time based conditions= whereby the charity is contractualty entitled to fvnding on the condition that il is ulilised in a particular period. In these cases the charity recognises the income to the extent it is ulilised within the period specified in the agreement. In the absence of such conditions. assuming that receipt is probable and the amount can be reliably measured. grant income is recognised On the charity is notified of entttlement Grants received towards capit81 expenditure are credited lo the Statement of Finanaal Activities when received or receivable, whichever is eadier. Expendituro Expenditure is analysed been costs of charitable activities and raising funds. The costs of'each activity ar8 separately accumulated and discfosed. and analysed according lo their major components. Expenditure is recognised when a legal or conslnjctive obligation exists as a result of a past èvent, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity bul cannot be attributed lo one activity.. Such costs are allocated to activities in proportton to staff time spent or other suitable measure for each activity. Investments Investments held as fixed assets are slated al cost less provision for any pemanent diminulion,in value. Income from other financial fixed asset investments together with any related lax credit is recognised in the profil and 105s account in the financial year in which il is receivable. Debtors Debtors are recognised at the settlement amount due after any discounl offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received al financial year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit al banks requiring less than three months notice ol withdrawal. Taxation The Trustees consider that the charity satisfie5 the tests set out in Paragraph 1 Schedule 6 of.the Finance Act 2010 for UK corporalion tax purposes. Accordingly. the Charity is potentially exempl from taxation in respect of income or capital gains received wilhin categories covered by chapler 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to Ihe extent that such income or gains a applied exclusively on the specific charitsble objects of the charity and for no olher purpose. Value Added Tax is not recoverable by the charity. and is therefore included in the relevant costs in the Statement of Financial Aclivilies. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Fund$ 2023 2022 Revenue grants and donations from non-public bodies 9,023 9,023, CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds 2023 2022 Burial Socioty: Funeral fees 85.212 85.212 43,400 13
continued The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 INVESTMENTS Unrestricted Restricted Funds Funds 2023 2022 Dividend Incorne Bank interest received 1,585 8.893 1,585 8,893 1,585 3,673 10,478 10,478 5,258 OTHER INCOME Unrestricted Restricted Funds Funds 2023 2022 Commission on memorials 2,246 2,246 2,189 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2023 2022 Funeral expenses Prepaid funeral expenses released Cemetery maintenance- Urmston Cemetery maintenance- Soulhem Other expenses Insurance Prepaid luneral plot provision Grants to organisalions (Note 13) Governance Costs (Note 4.2) 24.172 7,335 5,100 18,168 42 571 {734) 49,875 24,172 7.335 5,100 18,168 42 571 17341 49,875 852 13,350 3,531 2.300 649 200 552 1353} 30,000 828 852 104,529 852 105.381 51,057 GOVERNANCE COSTS Dlrect Costs Oth&r Costs Support Costs 2023 2022 Charitable activities - governance costs 852 852 828 NET INCOME 2023 2022 Net Income is stated after charglngllcrediting): Auditor's remuneration.. audit services 852 828 INVESTMENT AND OTHER INCOME 2023 2022 Commission received as investment and other income Bank interest Investment income 2,246 8,893 1.585 2,189 3,673 1.585 12,724 7,447 14
CntinUed The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 INVESTMENTS Other investrnents Total Investments Cost Al 31 Decernber 2023 15,850 15,850 Net book value Al 31 December 2023 15.850 15,850 At 31 December 2022 15,850 15.850 DEB TORS 2023 2022 Trade debtors Pr8payments and accrued income 15.550 166.734 16,775 169,399 182,284 186,174 CREDITORS Arnounts falllng due withln one year Bank overdraft5 Trade creditors Accruals and deferred income 2023 2022 5,804 4,512 2,002 3.550 1.088 12,318 4,638 10. DEFERRED INCOME 2023 2022 Al 1 January 2023 Decrease in financial year 48,067 {6,0901 48,179 11121 Al 31 December 2023 41.977 48.067 Deferred income is prepaid neral fees. Prepaid funeral fees comprises fully prepaid fvneral fees, deposits and purchased buri81 plots. 11. RESERVES 2023 2022 At the beginning of the year SurplusllDeficitl for the financial year At the end of the ye8r 440.259 1,578 440,469 {2101 441.837 440,259 15
continued The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews NOTES TO THE FINANCIAL STATEMENTS lor the finanoal year ended 31 Dernber 2023 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds Al 1 January 2022 Movement during the financial year 440,469 (2101 440,469 {210) Al 31 December 2022 Movement during the financial year 440.259 1,578 440,259 1,278 Al 31 December 2023 441,837 441,537 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 In¢ome Expendituro Transfers Balance between 31 Decgmber funds 2023 Unrestricted funds Designated Maintenance Fund Unrèstricted Gener81 S0.OCQ 390,259 23,268 82,113 22,325 (22.3251 50.000 391.837 106,016 440.259 106.959 1105,3811 441,837 Total funds 440,259 106,959 105,381 441,837 Unrestricted Revenue Funds These funds are held for the meeting the objectives of the charity, and lo provide reserves for future activities, and subject to charity legislatson, are free fr all reslriclions on their use. Dè8lgnated Rèvenue Fund$ Designated maintenan Fund. Under the temis of an agreement daled 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. 12.3 ANALYSIS OF NET ASSETS BY FUND Flnan¢lal fixed assets Current assets Current Long-term Ilabilitles deferred income Total Unrestricted designated funds Unrestricted general funds 50.000 424.478 50,000 391,837 15.850 (6,5141 (41,9771 15.850 474,478 16,514) 141,977) 441.837 15,850 474,478 (6,5141 (41.9771 441,837 13. RELATED PARTY TRANSACTIONS During the year the Board made donation5 totalling £49,87512022 £30,000) to the Sephardi Congregation ot South Manchéster (known as the Sha'are Hayim Congregation). charity number 1067759. No IrtJstees or persons connected with them receNed any remuneration from the charity. or any relal8rJ entity. POST-BALANCE SHEET EVENTS 14. There have been no significant events affecting the Charity Sin the finanryal year-end. 16