BELFAST JEWISH COMMUNITY FINANCIAL STATEMENTS 30 NOVEMBER 2018
IBDO Tel." •44 10128 Emkbl.. Pè4fa5Lr4Mkni.cc Ukiriered A(c(AMiiaits Lwd5ay11(JJse 10 CalItyer Str(If&l Beilasi BTI SBN Page 11 BELFAST JEWISH COMMUNITY Accountants, report to the Council of Belfast Jewish Community Year ended 30 November 2018 In accordance with the engagemeni letter dated 17 June 2019 we have prepared for your approval the rinancial infomialion of tlie Belfast Jewish Community for the year ended 30 November 2018 which comprises of Siatemenl of financial activities. Balance sheet. and th¢ related notes from the charity's accounting records and from infonnation and explanations you hav¢ 8iv¢n us. As a praclising member firm of the Institute of Chartered A¢counlants in Ireland. VK are subject to its etliical and other professional requirements which are detailed at www.charteredaccoiinlaiils.ie. Our work has been undertaken in aCrdanCe with the wuirements of the Institute of Chartered Accountants in Ireland as detailed at www harteredaccouiitants.ie. Lindsay House 10 Callender Stre¢t Belfast BTI 5BN Bt)0 North¢m Ireland Chartered Acwunlants 24June2019 Alltl p4rlMs' IbMnes 10(*wth¥YrtY. BTI 51N.
Page 12 BELFAST JEWISH COMMUNITY Statement of financial activities Year ended 30 November 2018 UDrestrieted Reslrieted To¢41 Funds Total Funds Funds Funds 2018 2017 Ineomillg regoMree8 Incoining resources from generdting funds: Voluntary incom¢ Investinent income Incoming resources from charitsble activities 27,036 24,476 27,036 24,476 25,241 15,233 17.820 17J20 24,349 64,823 Tolll incoming regources Resource5 expended Charitable aclivili¢s Gov¢i'nan¢e costs 69J32 69J32 {109J78) {4,044) (109,378) (4,044) (95,471) (4,050) (99,521) Tot41 resources expended Net incominW(oul%oing) resources befure other re¢ognised gaill$ and lows 6 Other recognised gains losses Unrealised gainl{10ss) on invcstments Net movement in funds (113A22) (113.422) (44.(V)O) (44,090) {34,698) (27J95) (71,485) (27.395) (71,485) 36,650 1.952 Total funds brought forward Total funds carried forward 793.109 27.095 820304 818.252 721.624 27.095 748,719 820.204 The Stalemenl of Finan¢io1 Activities includes all gains and loss¢s in lh¢ y¢ar and thefore stalement of total rw)gnised gains and losses not be¢n prepared. All olthe ave amounts rela1¢ to continuing activities. Th• nots• on po088 14 to 19 farni part ofth•s• flnon¢l•l $tatwnents.
Page 13 BELFAST JEWISH COMMUNITY Balance sheet 30 November 2018 2018 2017 Not• Fixed 4ss¢ts Tangible &ssels Inveslments 238J98 550,740 245.666 618,161 789,138 863.827 Current *ssets D¢btors Cash at bank 10 5J09 1.078 4,542 1,078 5,620 (49,243) 6J87 (46,806) Creditorg: Amounts f4lliD2 due within one year 11 Net ¢Mrrent (liabililies)IgetS (40.419) (43,623) T(bt21 gxqetq cllrrellt liahilities 748.719 820.204 Net et$ 748,719 820.204 Fund5 Unreslri¢t¢d incom¢ funds Reslricted income funds 12 13 721.624 27,095 793.109 27.095 Total funds 748,719 820.204 These financial statements were Bpproved and signed by the Jnember of lh¢ Coun¢il on 2(¥loElIg Ch8imian Hon. Trurer Tho not on wge¥ 14 to 19 fomi part ofthe8e financlal 8tat•m•nts.
Pag8 14 BELFAST JEWISH COMMUNITY Notes to the financial statements Year ended 30 November 2018 Accounting polleies Basis of accounting The finan¢ial statements have t*en prepared under the historical cost convention and in ac¢ordan¢e with Accounting and Reportin8 by Charities.. Statement of Recoinmcnded 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 Charitics Acl (Northern Ireland) 2008. the Charities (Nl) Order 2(M)7 and applicable accounting standards. The prin¢ip&l accounting policie& used corLsislently throughout, are set out below. The financial statements have b¢¢n prepared on a going concern basis which Assumes that the Conwrgation will continue in operational existence for the foreseeable future. The validity of this assumption depends uw)n continued support of the CongtEgation. Thc financial statements are prepaTed in sterling which is the functional CUrncY of the ch8rity. The entity is a Publi¢ Benefit entity as defined by FRS 102. Grants Grants CeIved. including grants for the purchase of fixed wts. are recognised in full in the slatemenl of financial activities in the year in which they are receivable and when the charity's entiilement becomes legally enforceable. Grant payments to other organisations are accounied for as and when approved. The value of the grants approved. but slill io be paid, are included in the balance sheet as curreni liabilities. O¢ber incoming resources Incoming resouw¢s including investment income and membership fees are ¢redit¢d to tho Statement of Financial Activities when receivable. Investment assets and income Investments held as fixed assets are revalued annually to reflt open market value. Resources expended Resources ¢xpended are recognised in the period in which they are incurred. Charitable expenditure compriKs those costs incurred by the charity in the delivery of its activities and 5ervic¢s for its beneficiaries. It include5 both costs that can be allted directly to such tIvItIeS and those costs of an indirect nature necessary to support them. Governan¢e costs include those Costs associated with meeting tlie constilulional and 51alutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between the experkditure categorie5 of the SOFA on a basi5 designed to reflect the use of the resource. Costs relating lo a particular activity ar¢ allocated directly. others are apportioned on an appTopriate basis.
Page 15 BELFAST JEWISH COMMUNITY Notes to the financial statsments Y6ar ended 30 November 2018 Accounting poli¢i¢s (C•1 Depreci*¢ion Depreciation is cakulaled so as to write off Ihc ¢ost of an asset. less its estimated residual value. over ihe useful economic life of thAI &t as follows: Buildings Equipment Fixtures & Fittings 20/• Straight Linc 33 % Straight Lines IOO/o Redu¢ing Balan¢¢ A full yeals depreciation is charga in year of addition and none in year of disp)sal. Fund a¢eoynliug The charity has different types of funds for which it 15 restM)nsible. and which qUIre separate disclosure. These are as follows: . Rcstrictcd funds: Donations, grants and other income received which are earmarked by lh¢ donor for specific purposes. Siich purFK)ses are within the overall aims of the organisation. b. Ullrestricted funds.. Fiinds which are expendable at the discretion of the knrd in the furtherance of ihe objects of the charity. In addition, funds may be held in order to finance capital investment and working capital. Cash and cash equivalents Cash consists of cash on hand. Voluntary in¢onJe Unrestricted Total Funds Total Funds Funds 2018 2017 Donatio MeMbeS Subscriptiong Donations 20261 6,775 20361 6,775 20.136 5.105 27,036 27,036 25.241
Page 16 BELFAST JEWISH COMMUNITY Notss to the financial statements Year ended 30 November 2018 lllvestment in¢ome Unrutricted Tot21 Funds Totsl Funds Funds 2018 2017 Investment in¢om¢ 24.476 24.476 15,233 IncomiDg re8ovr¢eJ from charitable acliviti iinrestrieted Total Funds Total Funds Funds 2018 2017 Community Centre Other income 9,130 8,690 9,130 8.690 8,674 15,675 17,820 17.820 24,349 Resources Expended Provision or services to tb¢ Communlty Governwn¢¢ 2018 2017 Direct Costs Salaries & Wa8¢S Ral¢s Light & Heal Telephone Insurdnce Maintenan¢e Cemetery costs Kitchen Expenses Ministerial expenses Sundiy expenses Accountancy lees Bank charges Depreciation of fixed assets Legal fS 22.826 616 9.023 3J33 2,072 26,922 4562 23,101 1,663 7,187 22,826 616 9,023 3,333 2,072 26,922 4,562 23,101 1,663 7,187 3,450 270 7,803 594 27.579 598 8.996 3.438 2.238 8.343 3.449 20.564 4.269 7,404 4,050 276 8,317 3,450 270 594 109J78 113,422 99,521
Pago 17 BELFAST JEWISH COMMUNITY Notes to the financlal statements Year ended 30 November 2018 Net incoming resources for the year This is stated after Chargin 2018 2017 Deprecialion 7803 8.317 Staff costs and emoluments Total staff costs were *s folloivs: 2018 2017 Wages and salaries 22826 27.579 No trustees reccivcd any rcmun¢ration or reimbursement of travel ewKns¢s durin8 either yw. No employ¢c rec¢iv¢d wnoluments of more than £60.(MX) during the y¢ar (2017.. £60.000). Tangible fjxed guetj Freehold Property Equipment Fixtures & Fitlings Total Cost At l December 2017 Additions 321,670 1261 59241 535 382,172 535 At 30 November 21118 321,670 1261 59,776 382,707 Depreciation At l Deccinber 2017 Cl?ar8¢ for the ycar At 30 November 2018 89,169 6.433 1261 46,076 lJ70 136,506 7,803 95,602 1261 47.446 144J( Net book value At 30 November 2018 226.068 12J30 238J98 At 30 November 2017 232,501 13.165 245.666
Page 18 BELFAST JEWISH COMMUNITY Notes to the financial Ststements Year ended 30 November 2018 Investments Movement ill market valu¢ 2018 2017 Market value at l Dec¢Mr 2017 Inveslmenls sold Nel gain/ (losses) on Tevalualions in the year ended 30 Novemkr 2018 618,161 (40.026) 591,519 (10,008) (27J95) 550.740 36,650 Market value at 30 November 2018 618,161 Hisloric81 cost at 30 November 2018 190,695 230.721 AnAIy8ls ofinvestments at 30 November 2018 between fund5 Tot1 Funds Total Funds 2018 2017 Listed investments Bi'itish Petroleum 9J96 8.804 9J96 8.804 Other investments M G Charifund"A Gift for ever fund" Nl Central Investment fund for Chariti 147,428 393,916 162.738 446.619 541J44 550.740 609.357 618.161 All investments relate to unrestri¢i¢d funds. 10. Debtor8 2018 2017 Oiher debtors Prepayments and accrued income 415 494 4,065 477 5J09 4.542 11. Credlton: Amounts (alliDg due within one year 2018 2017 Bank overdrafts Accruals 43.156 3,650 45.086 4.157 46,806 49.243
Page 19 BELFAST JEWISH COMMUNITY Notes to the financial statements Year ended 30 November 2018 12. Unre81ricted in¢ome fyDds 2018 2017 Opening reserves 793,109 791,157 Movement in year Incoming resources Outgoing r¢sour¢es Closing r¢s¢ry¢s 69,332 (140,817) 721.624 64.823 (62.871) 793.109 13. Reslri¢ted ineome funds Opening Outgoing Reseryes Resources Closing Reserves Goldring Trust 27,095 27,095 The restrict tund relates to the Albert and Rebecca (ioldring"I"rusL "lThis relates to money held by the charity for the purposes *0 nefit person of small means who are not able to obtain suITicient keep from government or other sources" 14. An4ly8iq of net ¥t8 between funds Net Current Assets ed Amets IDvestments Tot41 Restricted Funds Goldi'ing Trust 27,095 27,095 Unrestrieted Fullds 238J98 550.740 (6714) (40.419) 721,624 748,719 L18J98 550.740 15. Related party transaetiOn8 Belfast Jewish Community and Belfast Chevra Kadisha S(Ki¢ty are r¢lai¢d ihrough sharing Common committee m¢mb¢rs. During the year Belfast J¢wish Communily received income of £2,660 (2017.. £2,730) and paid eXnSeS of £750 (2017.. £750) on behalf of B¢lfast Chevra Kadisha Society. Ai the year end Belfast Jewish Community was owed £4,815 (2017: £4.065) by Belfast Chevrn Kadisha Society. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.