2021-12-31-accounts

CHARITY REGISTRATION NUMBER: 701846

Prestwich Beth Hamedresh Unaudited Financial Statements

31 December 2021

Prestwich Beth Hamedresh

Financial Statements

Year ended 31 December 2021

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6

Prestwich Beth Hamedresh

Trustees' Annual Report

Year ended 31 December 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.

Reference and administrative details

Registered charity name Prestwich Beth Hamedresh Charity registration number 701846 Principal office 74 Kings Road Prestwich Manchester M25 0LN

The trustees

Mr I Lachs Mr J Leitner Dr D Hibbert (Appointed 25[th] October 2021) Mr J Ritter (Resigned 25[th] October 2021)

Structure, governance and management

Prestwich Beth Hamedresh is constituted by a Deed of Trust dated 26th of November 1984 and is a registered charity, under registration number 701846.

The Trustees who served during the year and since the year end are detailed above. The Trustees do not receive remuneration from the Charity.

Organisational structure

The day to day affairs of the charity are managed by a team of honorary officers who are appointed with the approval of the Trustees and Members at the Annual General Meeting.

Risk review

The Trustees have assessed and identified material risks to which the charity is exposed and are satisfied that systems are in place to manage exposure to these risks.

Objectives and activities

The objects of the Charity are the advancement of Jewish religion and education by communal worship and the study of Talmudical, Biblical and other Jewish religious sources.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

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Prestwich Beth Hamedresh

Trustees' Annual Report (continued)

Year ended 31 December 2021

Achievements and performance

The Trustees are pleased to report that following the national lockdowns due to COVID-19 the Charity has now resumed its full pre-pandemic schedule of activities.

During the year a series of events were held to mark the retirement of the long-standing Rabbi of the congregation as well as the appointment of a new young Rabbi. The community continues to flourish under new leadership.

Financial review

The main sources of income for the Charity are the receipt of membership fees and donations.

The total amount of funds received during the year was £61,253 including a National Lottery grant of £10,000. The surplus for the year was £11,941.

Principal funding sources

The Charity is funded primarily by voluntary membership fees paid by regular attendees of services at the synagogue and by donations received from members of the public.

Reserves policy

The trustees have reviewed the reserves and future requirements of the charity. All future needs are considered together with any risks or contingencies that may exist. The trustees are confident that sufficient reserves will be generated to achieve the objectives of the charity.

The trustees' annual report was approved on 10 June 2022 and signed on behalf of the board of trustees by:

Mr I Lachs Trustee

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Prestwich Beth Hamedresh

Independent Examiner's Report to the Trustees of Prestwich Beth Hamedresh

Year ended 31 December 2021

I report to the trustees on my examination of the financial statements of Prestwich Beth Hamedresh ('the charity') for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Meir Guttentag FCCA Independent Examiner

10 June 2022

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Prestwich Beth Hamedresh

Statement of Financial Activities

Year ended 31 December 2021

			2021		2020
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	46,258	14,815	61,073	40,973
Investment income	5	–	–	–	2
Other income	6	180	–	180	1,795
		────────	────────	────────	────────
Total income		46,438	14,815	61,253	42,770
		════════	════════	════════	════════
Expenditure
Expenditure on charitable activities	7,8	44,243	5,069	49,312	40,628
		────────	────────	────────	────────
Total expenditure		44,243	5,069	49,312	40,628
		════════	════════	════════	════════
		────────	────────	────────	────────
Net income and net movement in	funds	2,195	9,746	11,941	2,142
		════════	════════	════════	════════
Reconciliation of funds
Total funds brought forward		346,020	2,036	348,056	345,914
		─────────	────────	─────────	─────────
Total funds carried forward		348,215	11,782	359,997	348,056
		═════════	════════	═════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 6 to 13 form part of these financial statements.

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Prestwich Beth Hamedresh

Statement of Financial Position

31 December 2021

		2021		2020
	Note	£	£	£
Fixed assets
Tangible fixed assets	14		369,181	370,352
Current assets
Debtors	15	1,003		1,008
Cash at bank and in hand		16,297		7,091
		────────		───────
		17,300		8,099
Creditors: amounts falling due within one year	16	4,594		770
		────────		───────
Net current assets			12,706	7,329
			─────────	─────────
Total assets less current liabilities			381,887	377,681
Creditors: amounts falling due after more than
one year	17		21,890	29,625
			─────────	─────────
Net assets			359,997	348,056
			═════════	═════════
Funds of the charity
Restricted funds			11,782	2,036
Unrestricted funds			348,215	346,020
			─────────	─────────
Total charity funds	19		359,997 ═════════	348,056 ═════════

These financial statements were approved by the board of trustees and authorised for issue on 10 June 2022, and are signed on behalf of the board by:

Mr I Lachs Trustee

The notes on pages 6 to 13 form part of these financial statements.

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Prestwich Beth Hamedresh

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 74 Kings Road, Prestwich, Manchester, M25 0LN.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Security equipment - 20% straight line Medical equipment - 10% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Donations
Donations receivable	20,239	4,815	25,054
Grants
Grants receivable	2,828	10,000	12,828
Membership
Membership fees receivable	23,191	–	23,191
	────────	────────	────────
	46,258	14,815	61,073
	════════	════════	════════

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

4. Donations and legacies (continued)

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Donations
	Donations receivable		13,980	1,422	15,401
	Grants
	Grants receivable		–	–	–
	Membership
	Membership fees receivable		25,572	–	25,572
			────────	───────	────────
			39,552	1,422	40,973
			════════	═══════	════════
5.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Bank interest receivable	–	–	2	2
		════	════	════	════
6.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Other income	180	180	1,795	1,795
		════	════	═══════	═══════
7.	Expenditure on charitable activities by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Running of Synagogue		41,433	5,069	46,501
	Support costs		2,810	–	2,810
			────────	───────	────────
			44,243	5,069	49,261
			════════	═══════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Running of Synagogue		37,761	180	37,941
	Support costs		2,688	–	2,687
			────────	────	────────
			40,449	180	40,628
			════════	════	════════

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

8. Expenditure on charitable activities by activity type

		Activities	Activities
		undertaken			Total funds	Total fund
		directly Support costs			2021	2020
		£		£	£	£
	Running of Synagogue	46,501		–	46,501	37,941
	Governance costs		–	2,811	2,811	2,687
		────────		───────	────────	────────
		46,501		2,811	49,312	40,628
		════════		═══════	════════	════════
9.	Analysis of support costs
					Total 2021	Total 2020
				£	£	£
	Finance costs			957	957	957
	Governance costs			1,731	1,731	1,731
				───────	───────	───────
				2,688	2,688	2,688
				═══════	═══════	═══════
10.	Net income
	Net income is stated after charging/(crediting):
					2021	2020
					£	£
	Depreciation of tangible fixed assets				1,171	1,171
					═══════	═══════
11.	Independent examination fees
					2021	2020
					£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial	statements			400	350
					════	════
12.	Staff costs
	The total staff costs and employee benefits for the		reporting period are analysed as			follows:
					2021	2020
					£	£
	Wages and salaries				20,386	9,484
	Employer contributions to pension plans				147	–
					────────	───────
					20,533 ════════	9,484 ═══════

The average head count of employees during the year was 2 (2020: 2).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

14. Tangible fixed assets

	Land and	Security		Medical
	buildings	equipment	Equipment	equipment	Total
	£	£	£	£	£
Cost
At 1 January 2021 and
31 December 2021	286,159	5,454	82,784	798	375,195
	═════════	═══════	════════	════	═════════
Depreciation
At 1 January 2021	–	4,363	–	480	4,843
Charge for the year	–	1,091	–	80	1,171
	─────────	───────	────────	────	─────────
At 31 December 2021	–	5,454	–	560	6,014
	═════════	═══════	════════	════	═════════
Carrying amount
At 31 December 2021	286,159	–	82,784	238	369,181
	═════════	═══════	════════	════	═════════
At 31 December 2020	286,159	1,091	82,784	318	370,352
	═════════	═══════	════════	════	═════════
Debtors
				2021	2020
				£	£
Prepayments and accrued income				1,003	1,008
				═══════	═══════
Creditors: amounts falling due within one year
				2021	2020
				£	£
Accruals and deferred income				770	770
Social security and other taxes				1,019	–
Other creditors				2,755	–
				───────	────
				4,544	770
				═══════	════
Creditors: amounts falling due after more than one			year
				2021	2020
				£	£
Bank loans and overdrafts				21,890	29,625
				════════	════════

15. Debtors

16. Creditors: amounts falling due within one year

17. Creditors: amounts falling due after more than one year

18. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £147 (2020: £Nil).

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Prestwich Beth Hamedresh

Notes to the Financial Statements (continued)

Year ended 31 December 2021

19. Analysis of charitable funds

Unrestricted funds

	Unrestricted funds
					At
		At 1 Jan 2021	Income	Expenditure	31 Dec 2021
		£	£	£	£
	General funds	346,020	46,438	(44,243)	348,215
		═════════	════════	════════	═════════
					At
		At 1 Jan 2020	Income	Expenditure	31 Dec 2020
		£	£	£	£
	General funds	345,120	41,349	(40,449)	346,020
		═════════	════════	════════	═════════
	Restricted funds
					At
		At 1 Jan 2021	Income	Expenditure	31 Dec 2021
		£	£	£	£
	Restricted Fund	2,036	14,815	(5,069)	11,782
		═══════	════════	═══════	════════
					At
		At 1 Jan 2020	Income	Expenditure	31 Dec 2020
		£	£	£	£
	Restricted Fund	794	1,422	(180)	2,036
		════	═══════	════	═══════
20.	Analysis of net assets between	funds
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Tangible fixed assets		369,181	–	369,181
	Current assets		5,518	11,782	17,300
	Creditors less than 1 year		(4,594)	–	(4,544)
	Creditors greater than 1 year		(21,890)	–	(21,890)
			─────────	────────	─────────
	Net assets		348,215	11,782	359,997
			═════════	════════	═════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Tangible fixed assets		370,352	–	370,352
	Current assets		6,063	2,036	8,099
	Creditors less than 1 year		(770)	–	(770)
	Creditors greater than 1 year		(29,625)	–	(29,625)
			─────────	───────	─────────
	Net assets		346,020	2,036	348,056
			═════════	═══════	═════════

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