REGISTERED CHAIUTY NUMBER: SCO52553 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR GLASGOW REFORM SYNAGOGUE SCIO Arrnstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 IHJ
GLASGOW REFORM syf4AGOGUE SCIO CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent E¥aminer's Report Statement of Finaneial Aetivities Balance Sheet Tr4ote5 to the Financial Statements 8 to 16
GLASGOW REFORM SYNAGOGUE SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The tru5tee5 present their report with the financial statern¢nts of the charity for the year ended 31 December 2024. The Trust¢¢s have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recolllln¢nded Practic¢ (SORP) applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and th¢ Republi¢ of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objeetives and aims Glasgow Reforni Synagogue (GRS) is the home of Reforni Judaism in Scotland- inspiring individuals and communities with Reform Jewish values and traditions. Our purpose is to maintain these goals for the benefit of our n]ember5 and the local ¢OmTnunity. The objectives of the Chariry are to provide and promote Reform Judaism, both froin a religious and cultural point of view. in Glasgow and throughout Scotl8nd and to promote any charitable purpose calculated to furth¢r R¢form Judaism. There are plans to merge the movement with the allied Liberal movement to go forward under Ihe banner of Progressive Judaisrn. ACHIEVEMENT AND PERFORMANCE Charitobl¢ 8¢tivities We have ¢ontinued to plan and deliver serYice4 educotion, training and developTnent. Our Rabbi continues on a part time basis and is a positiv¢ and unifying focus. There are weekly Shabbat services on a Saturday morning, in person and online. We are supported by se¢urity personnel and Staff. Once a month there is a Supper led by the Rabbi which is an opportunity for members to meet and socialise, together with monthly study sessions. There have been many other religious and social events. su¢h 8$ Purim, our well attended cornmunal Passover seder, a 90th birthday lun¢h in June 2024 (sponsored by a wider community organisation), hosting Yom Hazikaron (day of re]n¢mbran¢e), annual memb¢r5' bwbeque, the High Holy days, October 7th memorial and Chanukah. A number of families have celebrated Bar or Bat mitzvah and have been 5UPPQrt¢d by the congregation and the catering ¢eam. There has been a modest growth in members, and a conversion programme continues to be offered. Our lIdIng is old and requEres a significant amount of ongoing replacement and repair. There are plan5 in hand to replac¢ boilers. Essential electricat work is underway. and upgrades to the alarni system, roof repairs, and streaming equipment are in progress. Our Designated Safeguarding Lead produced GRS policies and guidelines for staff, truste¢s and volunteers in line with the OSCR and Movement for Refom) Judaisrn requiremertts. Trustees have CTled out the appropriate training. Comtnunication is made via weekly newsletters, education sessions and meetin85 Wlth meTnbers and pastoral support. A survey of members ha5 highlighted areas to improve and we are tying to implement this with our small team of active volunteers. FINANCIAL REVJEW Reserves policy and golng concern The trustees have a target of ensuring that the unrestricted cash reserves remain above £50,(x)O and that the target is monitored. This sum is intended to be SllffEcient to ¢ov¢r the operational tteed$ of the Synagogue for a minimum period of six months. Thanks to the efforts of our past Chair. one of our regular donors made an increased contribution, which was of significant benefit. At 31 December 2024. the unrestricted reserves stood at £199.063 (2023 £176.503). The trnstees expect the r¢serve5 t(Tr deorease in 2025 owing to the amount of expenditure, but haYEng reyiewed the likely outcome for the next 12 months taking account of historic trends perfomiante and since the Balante Sheet date, they consider that the Synagogue will be in a position to meet its financial liabilities as they fall due and will be able to do so for a period of at least 12 months from the date the accounts are signed. Pag¢ I
GLASGOW REFORM SYNAGOGUE SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW (Continued) Results The main source of income of the Synagogue is annual subscriptions which increased t(F £66,313 from £59,920 last year. This was due to a mid-year request for a IOO/a uplift 5ubs¢ription for 6 months. The forec&s¢ 5ubwiplions for 202512026 is £63,560. Recurrent expenditure has shown an increase, as was forecasted, mainly in rabbinical and staff costs and an increased l¢v¢l of propety repairs. The Synagogue's financial viability at current levels of expenditure is also highly dependent on the level and continuity of support by way of donations, ndraisIng and hall letting fees. FUTURE PLAP4S The Financial Committee and the wider Executive are tuentlY Considering a loan from a community organi5ation which is b¢ing negotiat¢d, together with ways of increasing income including fundraising, and an increase in m¢mb¢rship fe¢s. There is an ongoing legacy campaign as the Synagogue has greatly benefited from legacies of varying amounts over the years. Th¢ Finan¢e ComTnittee and the wider Executive will continue to focus on ways to reduce expenditure. STRUCTURE, COVERNAP4CE AND MANAGEMENT Governlng doeument Glasgow Reforni Synagogue SCIO was established on 18 May 2023. The SCIO is registered at Companies House with the reference number CS006321. The SCIO is also r¢gisl¢red with OSCR with the reference number SC052553. The governing Document is a Constitution dated November 2023 approved by the members. On 31 December 2023, all the assets and liabilities of the old Trust were transfetted ov¢r into the new SCIO. The old Trust has been dissolved. The Synagogue 15 also Tecognised as a charity by HM Rev¢nu¢ and Custoujs and as a result, there is no liability to taxation on any of it5 income. Organlsational strueture Trustees are appointed by the members at the Annual General Meeting and are entrusied with the goYernan¢e of the charity throughout the period of their appointment. The Truste¢$ ¢ndeavour to meet monthly to review all operaiional and strategic matters and react as appropriate. Induction and training of new trustees A process of regular Tneetings and other communications infonn and update both new tW5tees and existing tru$te¢s in respect of the organisation's legal status, constitutional documents and other general information, in addition to a review of the activities within the organisation. Key m8n*gemertt remunération and r¢lated partie5 Key management personnel who are responsible for managing and ¢ontrolling the ¢harity are all the trustees who are all members of the Executive Committee. The truste¢s do not re¢eive rernuneration foriheir services. In addition, the Board considers that the charity's related parties are its Ttrustees. There were no related paty transactions during the year ended 31 December 2024 (2023.. none). Page 2
GLASGOW REFORM SYNAGOGUE SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRucfuRE. GOVERNANCE Af4D MANAGEMENT {eontlnued) Risk rnanA%e]nent The Trustees have a duty to review the principal risk5 and uncertainties that the charity faces and to ensure adequate ontrols are in place to provide reasonable assuranK against fraud and error and consequently, any wtential impact on the charity. Thc Synagogue has continued to ¢mploy an independent bookkeep¢r. Our administrdtive pmcesses have becn streamlined and improved and expenditure 15 reviewed on an ots80in8 basis. The principal risk facing the charity is the generdtion of sufficient funds to provide the required l¢v¢l of seryices and to rnaintain the Synagogue building and Cardonald burial ground. Although the level of re5erv¢ funds is sound at this tim¢, there is an urgent need for a forward plan to rationalise expenditure and income for the next few years. With th¢ transfer to a SCIO. a Financial Comrnittee was established, made of the Chair. the Treasurer, the Safeguarding Officer and the ac¢ouT)t rnanager. Thi5 group has been tasked with closely rnonitoring the finances of the Synagogue, geeking ways to incr¢¢ inwmc and rnanage expenditure. REFI4 RENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC052553 Principal Address 147 Ayr Road Glasgow G77 6RE Trustees The Board of Trustees of the SCIO is as follows: Iii a(iditiuIi ID Ilie Boai"d ol TIubl¢¢S. Ili¥ Iii¢¢Jib¢J¥ ufthe Executive are as follows.. Head of Religious Affairs Membership ConveTLor Safeguarding Convenor and Events Coordinator Building Coordinator Burials Coordinator Security Convenor Appointed 18 June 2024 Tiide Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 IHJ Pag¢ 3
GLASGOIV REFORM SYNAGOGUE SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Bank of Scotland 110 Queen Street Glugow CII 3BY Approved by ord¢r of the Board of Trustees on 23 May 2025 and sigrhed on its behalf by.. Page 4
JNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLASGOW REFORM SYNAGOGUE SCIO I report on the ac¢ounts for the year ended 31 Decemb¢r 2024 set out on pages six to s¢v¢nt¢en. Respective re5ponsibilitie5 of trustees and examiner The charity'5 tru5te¢s are responsible for the preparation of the accounts in aceordan¢¢ with the tern)5 of the Charities and Trustee Investtnent (Scotland) Act 2005 and the Charities A¢¢ounts (Scotland) Regulation$ 2006 {a5 amended)- The charity's trustees consider that the audit requirement of Regulation 10(l)la) to (c) of ttLe Aeeounts Reglllations does not apply. It is my responsibility to examine the accounts as required undeT Section 44(1)(c) of the Act and to state wheth¢r particular matters hav¢ ¢oTne to my attention. Basis of the independent examin¢r'5 report My examination was canied out in accordance with Regulation I l of the Charities Acwunts (Scotlandl Regulations 2006. An exarnination includes a review of the accounlin8 records kept by the charity and 2 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in di¢ accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide alL the ¢vid¢n¢¢ thai would be required in an audit. and Consequently I do not express an audit opinion on the view given by th¢ a¢¢ounts. Independent examlner's staternent In connection with my examtnation, no matt¢r has come to my attention . (l) whith giyes m¢ reasonable cause to believe th*t, in any material respect, the requirements to keep accounting records in accordance with Section 44{IMa) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations., and to prepare a¢¢ounts which accord with the accounting re¢ords and to comply with Regulation 8 of the 2006 AoUnts Regulations have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper undstanding of the accouTLts to be reached. Armsirong Watson LLP Caledonia House ' 89 Seaward Stre¢t Glasgow G41 IHJ 23 May 2025 Page 5
GLASGOW REFORM SYNAGOGUE SCIO STATEMENT OF FINANCIAL ACTIVJTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Tol81 funds 2023 Total funds Unrestrieted funds Restricted fund Note$ INCOME FROM DtsT)ations and legacies 44,533 9,286 $3,819 48,914 Charitable 8Ctivili¢s Charitable activity 96,232 96,232 73,905 Other trading activities Other income 21,046 21,046 1.261 14.948 486 Total 163,072 9,286 172358 138,253 EXPENDITURE ON Raising funds 2,630 2,630 1,149 Charitabl¢ activities Charitable activity 137,882 18.923 156.805 171,946 Total 140 S12 173 095 NET INCOME/(EXPENDITURE} 22,560 (9,637) 12923 (34,842) RECONCILIATION OF FUNDS Total funds brought forward 176,503 245,776 422,279 457,121 TOTAL FUP4DS CARRIED FORWARD 199,063 236.139 435,202 422.279 CONTINUING OPERATIONS All incolne and expenditure ha5 arisen from continuing activities. The notes forni part of these financial statements Page 6
GLASGOW REFORM SYNAGOGUE SCIO BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total runds Unrestricted fund5 Restrieted fund Notes FIXED ASSETS Tangible assets li 79,761 234,936 314.697 326,294 CURRENT ASSETS Stocks Debtors Cash at bank 12 13 13,500 8.640 134.131 13,500 8,640 135J34 12,150 12,018 106,490 156,271 1,203 157,474 130,658 CREDITORS Amounts falling due within one yor 14 136,969) (36,909) (34,673) NET CURREf4T ASSETS 119302 120 $05 95,985 TOTAL ASSETS LESS CURRENT LIABILITIES 199,063 236,139 435.202 422.279 NET ASSETS 199 063 236.139 435 202 422.279 FUNDS Unrestricted funds Restricted funds 15 199,063 236 A39 176,503 245 776 TOTAL FUNDS 422.279 The financial statements were approved by the Board of Twsws and authorised for issu¢ on 23 May 2025 and were signed on its behalf by- The note$ fom part of these fmanctal statements Page 7
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basls of preparing the finoncial $t4tements The financial statements of the ¢harity, which is a public benefit entity under FRS 102, have been prepared in aecordance with the Chariti¢$ SORP (FRS 102) 'Accounting and Reporting by Charities.. StatemEnt of Recommended Practice applicabl¢ to Charities preparing their accouttts in accoTdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Chariti¢s and Trustee Investment (S¢otland) A¢1 2005. Assets and liabilities are initially r¢cognised at historical cost or transaciion value unless otherwise stated in ihe relevant accounting policy notes. Th¢ finan¢ial statement5 are presented in Sterling {£). Judgements The charity ¢onsider5 on an annual basis the judgements that ar¢ made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the fin3n¢ial stat¢m¢nts. The Trustees consider that there are no such signifieaot judgements. Going eoneern The financial statements have been prepared on a going concern basis. Having reviewed the charity's historic trends and perfomiance and its performance sin¢e the balance sheet date, the trustees constder that the charity will be able to meet its financial liabilitie5 when they fall due and will be able to do so for a period of at least 12 months from the date the accounts are signed. Consequently> the Trustees consider it appropriate to prepare the financial statements on a going concern basi5. Financial Reporting Standard 102- redueed diselosure exemptions The charity h3S taken advantage of the following disclosure exemption in preparing these f]nan¢ial statements. as pemitted by FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. Income All income is recognised in the Statetnent of Financial Activities once the charity has entitlement to th¢ funds, it is probable that the income will be received and ihe amount can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that probate ha$ been granted, the estate has been falISed and notification has been made by the executor(s) to the Trust that distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the e¥ecutoVs intention to make a distribution. Where legacies have been notified to the charity. or the charity is aware of the granting of probate, and the criteria for income recognition haye not been met. Ihen the lega¢y is a treated as a ¢ontingent asset and disclosed if material. ember5hip subs¢ription5, gift aid rewverable and burial in¢om¢ are r¢¢ogni5¢d iu the period to whieh they relate and are includ¢d in income from charitable activities. Incorne from government grants, whether a'capital, grant or 'revenue' grant, is recognised when the charity has entitlement to the funds, any perforniance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. Pag¢ 8 ¢ontinued...
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- eontSnued Expenditure Liabilities are recognised #s expenditure as soon as there is a legal or constructive obligaiion committing the charity to that expenditure, it is probable that a transfer of economic benefits will b¢ required in settlement and the amount of the obligation wi be measured reliably. Exp¢nditure is accounted for on an accnjals basis and ha5 been classified under headings that aggregate all ¢ost related to the category. Wh¢r¢ ¢osls ¢annot be directly attributed to particular headings they have be¢n allocated to activities on & basis consistent with the use of resources. Raising funds Raising funds includes all expenditure incurred by the charity lo raise funds for its charitable PUTposes and includes costs of all fundraising activities and events. Charitable aetivÈtie5 Costs of charitable activitie5 are incued on the charity's provision and promotion of Judaism. including the support costs and costs relating to the governance of the charity apportioned to chaiitable activities. Governanc¢ costs Consists of the ¢osts of the accounts preparation and other f]nan¢ial services and any expenditure incuTred in complianee with the l¢gal requirements of the charity. Allocation and apportionment of costs Support costs are those nctiOnS that assist the work of the charity but do not undertak¢ charitable activitie$. Support costs COn%15t of gov¢mance costs which support the charity's activities. The5¢ Costs have been allo¢at¢d to expenditure on charitable activitie5. T8ngible fixed assets Depreciation is provided at the following aknnual rates in order to write off the cost less estimated r¢sidual value of ea¢h asset over its estimated useful life. Heritable property Security equipment Kitehen equipment Office equipment 2/0 on cost 200/0 on reducing balance 150/• on reducing balance 33.30/y on cost Fixed a55ets are included in the balance sheet at eost less ac¢u7nulated depre¢iation and impairment losses. Exp¢n5¢s under £500 will not be capitalised. Impairment ofnoD-fin4ncial xssets At each reporting date, non-financial assets not carried at fair value, like plant, property and equipment. are reviewed to detemitne whether there is an indication that an asset may be impaired. If there is an ]ndcatiOn of possible impairnient, the recoverable amount whith is th¢ higher of value in use and the fair value les$ cost to sell, is estimated and compared with the tarrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impaimient loss is recognised itnmediately in profit and Ios5, Stocks Stocks relate to the acquisition Of cemetery lair5. These lairs ar¢ being in¢lud¢d in th¢ balance Sheet at ¢0St. Taxation The charity is exempt from tax on its charitable activities. Page 9 continued..
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLJCIES- continued Fund accounting Funds held by the charity are either'.- G¢n¢ral funds - fimds that can be used in accordanee with th¢ charitable objectives at the dis¢r¢tion of the trustees,. and Designated funds- fund5 5¢t aside by the twstees for specific future puryx)ses or projeet$. or Restricted funds - either fidS that can be u5¢d only for that specific puwse as specified by the ¢k)nor or funds that have been raised for particular purposes. Further explanation of the nare and purpose of each fund is included Èn the not¢$ to the fmancial statements. Pension costs and other post-retirement benefit5 The company operates a defined contribution pension 5chcm¢ and a150 makes contributions to the personal pension plans of certain individuals. Contributions payable to these schemes are charged to the profit and loss account in th¢ period to which they relate. Financial iDStrum¢nts The charity only enters into b05i¢ financial instruments trdnsactions that result in the recognition of finan¢ial ossets and liabilities like other aceounts receivabl¢ and payable. Debt instruments that are payable or receivable within one year, typically other accounts receivable and payable, are measured, initially and subsequently. at the undiscounted amount of cash or other consideration expect to be paid or received. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence ofimpairnient and if found, an impairnient loss is recognised in profit or loss. Financial liabilitie5 are derecognised when the liability is extinguished, that 15 when the conlrn¢lual obligation is discharged, cancelled or expires. Cash and cash ¢quivaleDts includes c8sh in hand, deposits held ai call with banks, other short-temi highly liquid investments with original rnaturities of three months or less and bat)k overdrafts. Bat)k ov¢rdrafts, when applicable, are shown within boTrowings in current liabilities. Creditors and provisions Creditors and provisions are recognised where the charity has a presellt obligation Tesulting from a past event that will probably result in the transfer of fvnds to a third paty and the amount due to settle th¢ obligation can be measured or estimated reliably. Creditors and provisions are nom)ally recognised at their settlement atnount after allowing for any trade discounts due. P28e 10 continued...
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Donations including legacies and bequests Grants 46,738 7.081 43,861 Grdnts received, included in the above, are as follows: 2024 2023 CST Gov¢rnment Grant 7,081 5.053 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events Hall l¢tting fees 7,401 4.548 14.948 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Charitable activity Charitable activity Charitsble aciivity Subscriptions- adults Gift aid recoverable Burial receipts 66.313 16,769 59,920 10,000 RAIsIf4G FUNDS Raising donÉtions legacies 2024 2023 Costs of fundraising events 1.149 Pagell continued...
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTIVITIES COSTS Support eosts (see note 7) Direct Costs Totals Charitable activity 150 585 156,805 SUPPORT COSTS Governance costs Charitable activity 6.220 Support costs, included in the above, are 35 follows: Governanee eosts 2024 Charitable activity 2023 Total aetSvitie5 Independent examine$ fees Book-keeping fee$ 2,98 2,580 6,220 S,130 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remun¢ration or other benefits for the year ended 31 Decemb¢r 2024 nor for the year ended 31 December 2023. Trustees, expenses During the year, no expenses were paid to the trustees of the charity (2023.. £nil). STAFF COSTS 2024 2023 Wages and salaries Other pension cg$ts 40.014 790 40,294 1,021 In addition to the above, there were payment5 for rabbinical 5¢rvi¢¢s of £31,035. which included payments to personal pension plan of £2,000 and also payroll costs of £2,720, whi¢h ar¢ included in ¢du¢ational costs. Page 12 continued...
GLASGOW REFoRL SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS- contlnued The average monthly number of employees during the year was as follows.. 2024 2023 Numb¢r of management staff Number of charitable services staff No employ¢¢s received emoluments in excess of £60,000. During the y¢ar, total remuneration of £nil (2023.. £nil) was paid to key management personnel. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted (unds Restri¢ted fund Total funds INCOME FROM Donation5 and legacies 43,862 5.052 48.914 Charltable attivitie5 Charitable activity 73,905 73,905 Other trading activities Oth¢r in¢ome 14,948 486 14,948 486 Total 133201 138 253 EXPENDITURE ON Raising fund5 1,149 1,149 Charitable actlvltles Charitable activity 155 999 Total 157 148 173,095 NET EXPENDITURE (23,947) (10.895) (34.842) RECONCILIATION OF FUNDS Total funds brought forward 200,450 256,671 457,121 TOTAL FUNDS CARRIED FORWARD 176 503 245 776 422.279 Page 13 ontinued...
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- eontlnlled FOR THE YEAR ENDED 31 DECEMBER 2024 ii. TANGIBLE FIXED ASSETS Heritable property S¢¢urity equlpment Kitchen equipment Office equipment Totals COST At l January 2024 and 31 December 2024 546 479 6.084 11,640 591,367 DEPRECIATION At l January 2024 Charge for year 224.366 10,629 3,960 423 25,777 208 10,964 337 265,073 11,597 At 31 De¢¢mber 2024 234,995 lJ,301 276.670 NET BOOK VALUE At 31 December 2024 311,484 339 314 697 At 31 December 2023 322,113 2.118 1.387 676 326,294 Included in heritable propety is land costing £15,000 whi¢h i5 not depreciated. 11 STOCKS 2024 2023 Burial lairs 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Income tax recoverable Prepayments and accrued income 2,515 10,000 2,018 12.018 Page 14 Continued...
CLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Oth¢r ¢r¢ditors Accruals and deferred income 14,235 22,734 12,840 21.833 36.969 15. MOVEMENT IN FUNDS N¢t movement In funds At 31112124 At 111124 Unrestricted funds General fund 176,503 22,0 199,063 Restri¢ted funds . Restricted nd 245.776 (9,637) 236,139 TOTAL FUNDS 422 279 435 202 Net movement in funds. included in the abov¢ are as follow5: Jncorning resour¢e5 Resources expended Movement n funds Unrestriet¢d funds General fund 163,072 (140,512) 22,560 Restricted funds Restricted fund 9,286 (18,923) (9,637) TOTAL FUNDS 172,358 159,435) 12.923 Comparatives for movement in funds F4et movement in funds At 31112123 At 111123 Unrestrieted funds General fund 200,450 (23,947) 176,503 Restricted funds Restricted fund 256,671 (10.895) 245,776 TOTAL FUNDS 457 121 34 842) 422 279 Page 15 continued...
GLASGOW REFORM SYNAGOGUE SCIO NOTES TO THE FIP4ANCIAL STATEMENTS- contlnued FOR TH£ YEAR ENDED 31 DECEMBER 2024 15. MOVEMENT IN FUNDS- continued Comparative net movement in fund4 included in the aboye are as follows.. Incoming resources Resources expended Movement in funds Unre5tricled funds General fund 133,201 (157.148) (23,947) Restricted funds Restricted fund 5,052 (15,947} {10,895) TOTAL FUNDS 173 095 34.842) The restricied nd relate5 to funds received in respect of the acquisltion of the Synagogu¢ and security equipment. Th¢ Synagogue property and the securiry equtpment are included in fixed assets in not¢ I l. A restricted grant of £7,081 (2023.. £5,053) was received during th¢ y¢ar to be utilised on the provision of security and this has been fully utilised during the year. Donations of £2.205 were Te1Ved in respect of educational ¢osts and of these. £1,001 was utilised during the year, leaving a balan¢e of £1,204 to be catTi¢d forward. 16, EMPLOYEE BENEFrr OBLIGATIONS Th¢ charity operates a defll)ed contribution pension s¢heme and makes payments to the p¢rsonal pension plans of certain individuals, the assets of which are held in separate funds. The amount paid in the year and charged to the Statement of Financial Activilies amounted to £2,790 (2023.. £4,021). At 31 December 2024, £nil (2023: £nil) was due to the p¢nsion sGh¢mes by the charity. 17. CONTIP4GENT LIABILrriES Und¢r the conditions of a grant received from Glasgow Jewish Community Trust and Esterson Tn]st, a grant of £50,000 will become repayable on disposal of the charity's premises at 147 Ayr Road, Glasgow unless th¢ proceeds of disposal are re-inyested in an alternative Synagogue site. The lernis of the grant also provide for a pro-rata participation in profit over the completed project value by th¢ aforementioned Trusts, should the grant be¢om¢ repayable. i& RELATED PARTY DISCLOSURES There were no related paty transa¢tioDS for the year ended 31 De¢ember2024 (2023: none). 19. ULTIMATE corrrROLLING PARTY Ther¢ is no ultimate Controlling party. Page 16 continued.