Charity registration number 500074 {England and Wales) THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS LEGALAND ADMINISTRATIVE INFORMATION Trustees AJLeon R Simon M Sherbourne Charlty number (England and Wales) 500074 Principal address Flal 3 300 Hale Road Hale Barns Cheshire WA15 8SP Independent examiner Royce Peeling Green Limited The Copper Room Deva City Office Park TTinity Way Manchester M3 7BG
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 6-11
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial slalements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounling 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 IFRS 102)" Objectives and activities 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 Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance The charity organised ten funerals in the year. The cemetery at Urmston, which is owned by the charity, continued to bè maintained. Financlal review The results for the year are sel oul on page 4 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 £498,26812023.' £496,132) and liabilities of £42,647 {2023'. 54,295). The nel assets of Ihe charity have increased by £13,784. Reserves policy The charity aims lo hold sufficient free resetves lo cover operational expenses. Availability and adequacy of assets of each of the funds The Board of Trustees is salisfied that the charity's assels in each fund are available and adequate lo fulfil its obligations in respect of Èach fund. Investment policy There are no restriction on the charity's power lo invest. The investment strategy is sel by the Iruslees. This policy is set within an overall policy of investing in low-risk investments. Risk factors The trustees consider that the major risk the charity faces is a loss of members within the Sha'are Hayim Congregalion. The risk is mitigated by the close-knit nature of the community. Plans for future periods The Trustees will continue lo manage the charity with the aim that it has sufficient reserves to fund future burials and maintenance. Structure, governance and management The Constituent Congregations biennially each appoint six elders to the Board, which also indudes the Immediale Past President and Honorary Life Elders. The Board elects from amongst ils members five Executive Officers to administer the day-to-day affairs of the Board. All significant investmenl or expenditure decisions are made by the Board.
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The truslees who served during the year and up lo the date of signature of the financial statements were: AJLeon R Simon M Sherbourne The Iruslees, report was approved by the Board ofTrustees. M Sherbourne Trustee
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS I report to the trustees on my examination of the financial ststements of The Conjoint Board of Ebjers of the Manchester Congregations of Spanish and Portuguese Jews (the charity) for the year ended 31 December 2024. Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the financial ststements in accordance wth the requirements of the Charities Act 2011. I report in respect of my examlnation of the charity's financial slatements carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Directions given by the Chanty Commission under section 145(5)(b) of the Charities Act 2011. Independent examlnerfs statement Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevanl version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting snd Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in Ihe extant regulations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view In accordance with UK Generally Accepted Accounting Practice. I have Completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any materfal respect= accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and content of financial staternents set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wllh the examination io which attentlon should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached. Icy (L 4- Carotyn Dutton FCA Royce Peellng Green Llmltad The Copper Room Deva City Office Park Trinity Way Manchester M3 7BG Date:
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income and endowments from: Donations and legacies Charitable activilies Investments Other income 4,512 48,820 12,268 9,023 85,212 10,478 2,246 Total Income 65,600 108,959 Expendlture on: Charitable activities 51,816 105,381 Total expenditure 51,816 105,381 Net income and movement In fund8 13.784 1,578 Reconciliation of funds: Fund balances at 1 January 2024 441,837 440,259 Fund balances at 31 Decèmber 2024 455,621 441,837 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Fixed assets Investments 11 15,850 15,850 Current assets Debtors Cash al bank and in hand 12 176,965 305,453 182,284 297,998 482,418 480,282 Creditors: amounts falllng due vAthln one year 13 {3,370} 112,3181 Net current assets 479,048 467,964 Total assets18s8 currènt liabilities 494,898 483,814 Deferred income 14 139.277) (41,977) The fund8 of the charity Unreslri¢led funds 15 455,621 441,837 455,621 441,837 The financial statements were approved by the trustees on .¥Y X*a:..14 M Sherbourne Trustee
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information The Conjoinl Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews is a unincorporaled charity registered by trust deed. The principal address of the charity is Flat 3, 300 Hale Road, Hale Barns, Cheshire, WA15 8SP. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's govèrning document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in thé SORP for charities not to prepare a statement of cash flows. The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical Cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concern Al the lime of approving the financial statements, the Irustees have 8 reasonable expectation Ihat the charity has adequate resources lo ¢onlinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the discfelion of the truslees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside al the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions require deferral of the amount. Legacies are recognised on receipt. Income from investments is recognised in the financial year in which il is receivable.
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued} 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct CL)Sts attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not allributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Flxed asset Invèstment8 Fixed asset investments are held at 51. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The ¢harily has elecled lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measurèd at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing transaction. where the transaction is measured at the present value of the future reip1S discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri unless the arrangement conslilutes a financing transaction, where the debt instrument is measured at the present value of the future paymenls discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services Ihal have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method.
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Derecognition of financial liabilities Financial liabililies are derecognised when the charity's contractual obligations expire or are discharged or Canlled. Income from donations and legaciès Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 4,512 9.023 Income from charitable activities Unrestrictod funds 2024 Unrestricted funds 2023 Burlal Society Funeral Fees 48,820 85,212 Income from investments Unrestricted Unrestrlcted funds funds 2024 2023 Dividend income Bank interest received 1,585 10,683 1,585 8.893 12,268 10,478 Other income Unrestricted Unre$tri¢ted funds funds 2024 2023 Commission on memorials 2,246
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activities 2024 2023 Direct costs Funeral expenses Prepaid funeral expenses released Cemetery maintenance- Urmston Cemetery maintenance- Southern Other expenses Insurance Prepaid funeral plot provision Postage 12,250 4.769 3,100 24,172 7.335 5.100 18,168 42 571 (734) 57 582 20,822 54,654 Grant funding of activities (see note 7) 28,750 49,875 Share of support and governance costs Governance 2,244 852 51,816 105,381 Analysis by fund Unrestricted funds 51,816 105,381 Grants payable Unrestricted Unrestrlcted funds funds 2024 2023 Grants lo inslitulions.. Grants to wnnected charities 28,750 49,875 Net movement in funds 2024 2023 The net movement in funds is slated after chargingl(crediting)'. Fees payable to the charity's independent examiner.. for the independent examination of the charity's financial statements for other financial services 1,800 420 852 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year.
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Taxation The charity is exempt from taxation on its activities because all ils income is applied for charilable purposes. 11 Fixèd asset investments Unlisted investments Cost or valuation At 1 January 2024 & 31 December 2024 15,850 Carrying amount At 31 December 2024 15,850 At 31 De¢ember 2023 15,850 12 Debtors 2024 2023 Amounts falling due YthIn one year: Trade debtors Prepayments and accrued income 15,000 161,965 15,550 166,734 176,965 182,284 13 Creditors: amounts falllng due within one year 2024 2023 Trade creditors Other creditors Accruals 4.512 5.804 2,002 3,370 3,370 12.318 14 Deferred income 2024 2023 Other defefred income 39,277 41,977 Deferred income is included in the financial statements as follows.. 10
THE CONJOINT BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Deferred Income (Continued) 2024 2023 Deferred income is included within.. Shown as deferred income on the fa of the balance sheet 39,277 41,977 Movements in the year.. Deferred income al 1 January 2024 Released from previous periods 41,977 12,700) 48,067 {6,0901 Deferred income al 31 December 2024 39,277 41,977 15 Unrestrictsd funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which ar8 not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 January 2024 Incoming Resources resour¢e8 expended Transfer8 At31 December 2024 Designated maintenance fund General funds 50,000 391,837 13,100) (48.716) 3,100 (3,1001 50.000 405,621 65,600 441,837 65,600 (51.816) 455,621 Previous year: At 1 January 2023 Incoming Resource8 resources expended Transfers At31 December 2023 Designated maintenance fund Unrestricted general 50,000 390,259 943 106,016 (23.268) 182,113) 22,325 122,3251 50,000 391,837 440,259 106,959 {105,381) 441,837 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 to be used for the maintenance and upkeep of the graves and meleries. 16 Related party transactions During the year the charity made donations totaling £28,750 (2023.. £49,875) to The Sha'are Hayim Congregation, charity number 1067759, a connected charity. 11