Charity registration number 500074 (England and Wales) THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS LEGAL AND ADMINISTRATIVE INFORMATION Twstees AJLeon R Simon M Sherboume Charity number IEngland and Wales) 5C£(174 Principal addres¥ Flat 3 Hale Road Hale Barns Cheshire WA15 8SP IndeperKlent exarniner Royce Peeling Green Limitgj The Copper Room Deva Cty Ofre Park Tiinity Wdy Manchesler M3 7BG THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS CONTENTS Pagè Tiustees. report Indepe￿Ient examinerfs report Statement of finan(aal activities Balance sheet Notes to the finanual statements 6-11 THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees wesent th￿r annual report and financaal slalements for Ihe year ended 31 De(tmbet 2025. The finanaal statements have been prepa￿d in acCOrdar￿ wrth the attwntsng w11c￿S set out in note 1 to the finanaal statements and comply with the tharity's govemiThJ dO1￿Ment. Ihe Charities Ad 2011, FRS 102 'The Financial Reporting Standard appli(2ble in the UK and Repu￿1¢ of I￿lan￿ and Ihe Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practi￿ 8ppl&cable to tharitses preparing their accounts in accordance wtth the Finanaal Reporting Standard applrcable in the UK and Republic of IrelaTrY IFRS 1021". Objectives and a¢tivitie$ The principal actNitTes and obiectives of the tharty are the operation of a burial board for The Manchester Congregations of Spani$h and Portuguese Jews and the thstribUtic￿ of surplus investment incorne to other charities. The tiustees have paid due regard to gui¢Jance by the Charity Ccfflmission in deuding what activIt￿S the charity should undertake. Achievements and perfomiance The chari(y organised nine funerals in the year. The cemetery at Urniston, which is owned by the tharity. t￿l￿ed to be rnaintwned. Financial review The results for the yeaf are set out on page 4 and addiiionJ notes are prowded sl￿wIng income and expenditure in greater detail. Results Al the end of the fin8nckHI year. the tharty has assets of £471.101 12024". £498.2681 and liabilities of £42,287 {2024.. £42,64n. The net assets of the charity have decreased by £26.807. Reserves policy The charty airTts to hokl 5uffic*nt free reserves to cover operatiorol expenses. Availability and adequacy of assets of each of thè funds The Board ol Trustees is satisfied Ihal the tharivs assets in eath fvnd are availa￿e and adequate to fulfil rts O1￿193110ns in respect of each fijnd. Investsnent policy There are no restrictiorh on the charitys powerto invesl_ The inVest￿nt strategy is set by the trustees. This policy is sel within an overall policy of invèsting in kmf-risk investmenis. Risk faeto The tmstees consider that the major risk the charity faces is a loss of members within the Sha'aie Hayim Congregalion. The risk 1$ mitigated by the close-knit nature of the communty. Plans for future periods The Trustees will continue to manage the charity with ￿ aim that it has suffi(ient rese￿e$ to fund future buiials and maintenance. Structure. governance and managernent The Constituent Congregations biennially e￿ aFvoint srx ekyers lo the Board. whith also indudes the Immediate Past President and Honorary Life Elders. The Board elects trom amongst ils members fve ExeoJtive offi￿rS to administer the day-to-day affairs of Ihe Board. All si9nrficant investment or expenditure decisions are made by Ihe Board_ THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees who seNed durn)g the year and up lo the of swJnature of the financial statements were.. AJLeon R Sirnon M Sherbour The trustees, report was approved by the Boaid of Trustees. M Sherbourne Trustee Date". THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS I report to Ihe trustees on rny exarnin8t￿n of the finaroal slateffents of The Board of Eklers of the manc￿ster Congregations of Spanish and Portuguese Jews (the djartyl for tt* year ended 31 December 2025. Responsibilities and basis of report As the trustees of the charty you are respctnsible for the preparab.on of the financkql statements in acwrdance with the requirernents of the CharitiesAia 2011. I report in respect ol my examinalion of the charity's finanual statements carried wt under section 145 of the Charfcies Act 2011. In carrying out my ex8minatlDn I have fr)Ilowed the Direction5 gNen by the Charity Commission ut¥Jer section 14515llbl of the Charities Act 2011. Independent examinerfs statement Your attent￿￿ is drawn to the fact that the char(ty has prepared the fmancial statements in acCOrda￿e wrth the relevant version ol the Statement of Recommended Prnctice applicable to charities preparing their financial statements in accordance w¢th the Finanaal ReportirrtJ Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen￿ to the AccountiNJ and Repo￿n9 by Charities-. Statement of Recommended practi￿ issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in ordei for the firhanryal stalements to provide a IFue and fair view in accoidance with UK Generally Accepted Accounting Practicè. I have completed my examination. I confimi that no n19tters have come to my attention in ccnneclK*n wth the examination giving me cause to believe Ihat in any material respeca.. accounting records were not kept in respect of the charity as required by $￿t￿n 130 of Ihe Charitie5 Act 2011. the finaniial staternents do nol accord ￿ tFK15e fecords; or thè financial statements do not ccxnply wth the appluble requiremeftts concerning the fomi and content of finan(ial statements set out in the Charits"es IAttounts and Reports) Regulations 20(A9 other than any requirement that the finanoli(xes adoptèd are set out below. 1.2 Going Concern At the time of approviNJ the financ4al statements. the trustees have a reasonatAe expectation that the charity has adequale resources to fA)ntinue in operatKJnal existence for the foreseeable tuture_ Thus the tnjstees continue to adopt the going con￿rn basis of ac(x)unb"ng in preparing the finanaal slatemenis. 1.3 Charitsble funds Unrestricted funds are aVaila￿e for use at the disuetion of the truslees in fvrtheran￿ ol their charilable objeciives. Designaled funds comprise funds whith have been set aside al the dis¢xetion of the trustees for speafic purposes. The purtx)ses and use5 ofthè designated funds are set out in the notes to the ￿an￿al statements. 1.4 Income Income is reGognised when the charty is legalty entitleil to it after any perfomance conditions have been met. the amounts can be measured retiabty, and it is probable that inconE will be received. Cash donations are rewgni5ed on re￿ipl. Other dOnati￿S are recogrdsed on(E the tharity has been notified of the donation. tynless perf0mlan￿ conditions Tequire deferral of the amount. Legaaes a￿ recL)gni5ed (￿ iec*pt. Income from investments is re¢ognised in the finartkal year in whith it is receivable_ THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies (Continued) 1.5 Expenditure Expenditure is recognised On￿ theie is a ￿931 or constructNe rt)ligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in seltlerTrent. and the amount of the obligation can be rneasured rdiabty. Expenditure is dassified by aLtyvity. The costs of each aclivrty are made up ol the lotal of direct (x)sts and shared costs, induding support costs inVo￿ed in undertaking each adNity. Direct costs attributable to a single activity are allocated directly to that aCt￿rtY. Shared costs whith cc¥)tr¢bute to mre Éhan one activity and support costs which a￿ not attribula￿e to a Sing￿ aLtvity ale aPKK)rtioned between those aciivities on a basls consistent wrth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are alkncated on the pcffbon ofthe asset's u%. 1.6 Fixed asset investments Fixed asset investrnents are hèld at wst. 1.7 Cash and cash equivalents Cash and tash equivalents indude cash in hand. (kposts held at cal with banks, other short-terrn liquid investments wrth orvJinal maturrties of three months or less. and bank overdrafts. Bank overdrafts are shown wilhin borrowings in rutrent liabilities. 1.8 Financial instnJments The charity has elected to appty U)e ryovisions of Section 11 'Basic Ftnancial Inslnjments. and Section 12 'Other Finanaal Inslrumentslssues. of FRS 102 to all of rts financial instruments. Fjnanual instruments are recognised in the chwivs baLqn(* sheèt when the charity becomes party to the contiactual prothSi￿s of the instrurnenl. Financial asset5 and liabilities are offseL with the amounts presented in the finanaal statements, when there is a legally enft)rceable right to set off the recognised arno￿1$ and there is an intenb.on to settle on a net basis or to realise the asset and settle the liabilty simultaneously. Basic financial assets Basic finanual assels, which irKlude debtors and tzsh and bank b￿an￿$, are inibalty measuréd at transaction price induding transaction costs and are subsequenlty carried at amortised cost using effedive interest method unless the arrangement consl"tutes a finanang transactK)n, where Ihe tranSact￿n is rnea5uied at the present value of the future rerapts discounted at a Ma￿et rate of intefesl. Fingncial assets dassified as receiv*)le within one year are not amortised. Basic financial liabilities Basic financial lia￿"litIeS, indudiThJ C￿ditorS and bank lo￿5 a￿ irulialty recognised at transaction prw unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payrnents discounted at a market rate of interest. Finanoal liabiltties cjasstfied as payable wilhin one year are rnt arnortised. Debt instruments a￿ subsequently carried al amortised cost. ￿1￿9 the effedNe interest rate n*thod. Trade creditors are oblwJatK>ns lo pay for goods or SerV￿S thai have been acquired in Ihe ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payrnenl is due within one year or les5. 11 not, they are presenled as noTr￿rrent liabil￿e$. Trade creditors are reo)gnised inib.ally at transadion ptice and subsequently measureil at arrK)rDsed cost U￿n9 the effeciTve interest method. THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢ounting poli¢ie$ (Continued) Derecognition of financial liabilities Financial liabilities are deiecognised when the charity's coniractual oblig8tions exptre or 8ie distharged or Cancelled. Income frorn donation5 and legacies Unrestricted funds 2025 Unrestrtcted funds 2024 Donations and gifts 4.512 Income from eharitsblè activities Unrèstrict•d funds 2025 Unrestrlcted funds 2024 Burial Society Funeral Fees 34,736 48,820 Income from investsnents Unrestricted Unrestricted funds funds 2025 2024 DNidend income Bank interest ie¢eived 1.585 6,748 1,585 10,683 12268 THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expenditurè on eharitable activities 2025 2024 Direct costs Funeral expenses Prepaid funeral expenses rdeased Cemetery maintenance- Umiston Other expenses Insutan Postage 17,401 3.670 2.990 382 12.250 4.769 3,1 57 582 25,046 20.822 Grant fijnding tsf athvths (see note 61 42,500 28,750 Share of support and govemance costs Govern8nce 2.330 2.244 69.876 51,816 Analysis by fund unresth.ded funds 69,876 51.816 Grants payable Unrestricted UnTestri¢ted funds fund$ 2025 2024 Grants to ÈnstitutiOn5". Grants to conneded ¢J)arities 42,500 28.750 Nèt movem•nt in funds 2025 2024 The net movement in funds is stated after tharg1￿{CreditIn9}.' Fees payab￿ lo the charitys independent examiner. - for the independent examination of the tharitys finanaal statemenls - foi other financlal senri￿s 1,910 420 1.800 420 Trustees None of the trustees Icw any pefsons 0)nn￿ted with them) rec￿ed any remuneration or benefit5 from the harity during the year. THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Taxation The charity E5 exernpl from taxatDn on r15 actiV￿¢￿S be(xuse all tts inctxne is applied lor charitab18 Purposes. 10 Fixed a￿t investrnents Unllsted invesbnents Cost or valuation Al 1 January 2025 & 31 December 2025 15,850 Carrying amount At 31 Oecember 2C125 15,850 At 31 December 2024 15.850 11 Debtors 2025 2024 Amounts falling duè within one yèar. Trade debtors Prepayments and ac£rued ino)me 3.250 158,295 15.000 161,965 1S1,545 176.965 12 Creditors= amounts falling due within onè year 2025 2024 Accru81s 3.710 3.370 13 Deferred income 2025 2024 Other deferre(l in¢ome 38,577 39,277 Deferred income is induded in the finanaal statements as follows= 2025 2024 Oeferred income 15 induded wilhin.. Shown as deferred income on the fa(2 of the balance sheel 38,517 39,277 Movements in the year.. 10- THE BOARD OF ELDERS OF THE MANCHESTER CONGREGATIONS OF SPANISH AND PORTUGUESE JEWS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 13 Deferred income (Continued) Deferred income at 1 January 2025 Released from previous periods 39,277 17WI 41.977 12,7001 D8fèrred income at 31 De￿mber 2025 38,577 39.277 14 Unrestricted funds The unrestiicted funds of the charity comkwse the unexpended balances of donations and grants which are not subject to speofic conditions by donors and granlors as to how they may be used. These indude designated funds which have beèn set a%de oui of unrestricted lunds by the trusiees for specific purposes. At 1 January 2025 I￿ornIng resources Resources expended Transfèrs At31 December 2025 Designated maintenance lund General funds I2,￿) 166.8861 50,WO 378.814 405.621 43.(69 12.9901 455,621 43,(￿9 169.876) 428,814 Previous year. At 1 January 2024 Incoming resources Rèsources expended Trdnsfèrs At31 Deeèmber 2024 Designated maintena1￿ ￿nd General funds 13,1CX)I (48.7161 3,100 13,1rx)I 50,000 4(15,621 391.837 65.elKI 441,837 151.816) 455,621 Designated maintenance fund Under the terms of an agreernent dated 12 0e(Ember 21KM). as amended in August 20f)7, the Trustees agreed that a fund of £50.Crf)O should be set aside lo be used for ihe maintenarKe and upkeep of the graves and cemeteries. 15 Relatsd party transactions During the year the charity made donab.ons tolaltng £42.5￿ P024." £28.7￿)1 to The sh8.arè Hayim Congwation, charty number 1067759, a C￿neCted chanty. 11