OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Hadassah Medical Relief Association U.K.

2025-05-31-accounts

Company registration number 02962092 (England and Wales) Charity registration number 1040848 (England and Wales)

HADASSAH MEDICAL RELIEF ASSOCIATION UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

HADASSAH MEDICAL RELIEF ASSOCIATION UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M D Paisner CBE
Mr J J Roboh
Mrs G Shamash
Mr D Waterman
Dr H Daitz
Dr M Bloch
Mrs E Marks
Dr N Greenwold
Secretary MrsG Shamash
Country of incorporation United Kingdom 02962092
(England and Wales)
Charity registration England and Wales 1040848
Registered office Beit Meir Building
44b Albert Road
Hendon
London
United Kingdom
NW2 2SJ
Auditor Glazers
843 Finchley Road
London
NW118NA

HADASSAH MEDICAL RELIEF ASSOCIATION UK

CONTENTS

Page
Trustees’ report 1-6
Statement oftrustees’ responsibilities 7
Independent auditor's report 8-11
Statement of financial activities 12
Balance sheet 13
Statement ofcash flows 14
Notestothefinancialstatements 15-25

HADASSAH MEDICAL RELIEF ASSOCIATION UK TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MAY 2025

The trustees present their report and financial statements for the year ended 31 May 2025.

The Charity

Hadassah Medical Relief Association (Hadassah UK) is the UK registered charity (UK Charity Reg No 1040848) dedicated to raising funds for Hadassah Medical Organization (Hadassah Hospital) in Jerusalem and promoting awareness of its medical and scientific excellence in healing, teaching, research and community outreach.

Hadassah UK (HUK) is run by a small professional team, overseen by a Board of Trustees, with a distinguished Advisory Board. HUK invites UK based philanthropists, communities, organisations and individuals to help support the growing needs of the greater Jerusalem population, which is projected to grow to significantly within the next 10 years, and is the most aging population in Israel creating new infrastructure demands on its capital city.

Hadassah Hospital is now one of the most advanced hospitals in Israel and has been awarded the highest scores in the Israel Ministry of Health annual quality indicators for both Ein Kerem and Mount Scopus campuses. In early 2025, the hospital received international accreditation with the highest honours from the Joint Commission International (JCI). This prestigious accreditation is an internationally recognized "gold standard" that provided an objective evaluation of the hospital's performance in patient care safety and quality. With over 5,000 employees, Hadassah is the largest non-governmental employer in Jerusalem, which now needs modern medical infrastructures and new rehabilitation facilities. The hospital has undergone numerous expansions and evolutions and now serves as the only modern medical facility in the region, constantly operating at maximum capacity. Following on from the events on and since October 7, there is a dramatic increase in the need for rehabilitative care among the wounded; hundreds will require specialised inpatient and outpatient rehabilitation — for weeks, months, or even years to come — for severe physical injuries as well as psychological and mental health treatment.

In response, HUK is supporting the completion of the Gandel Rehabilitation Centre at Hadassah Mount Scopus, which partially opened in January 2024 and remains under construction. Additional funding is needed to complete outstanding areas, such as the outpatient department, to enable discharged patients to continue with their rehabilitation treatment to ensure a full recovery.

Objectives and activities

The Association's objects are as detailed above and there has been no change in these or in the policies adopted in furtherance of these objects in the year.

The Association also holds an endowment fund as detailed in the notes to the accounts for the purpose of assisting young doctors involved in medical training or research at Hadassah Medical Association in Jerusalem and offers seven scholarships per year.

If you would like more information or to receive our newsletter or Year in Review report, please contact: T: 020 8202 2860 __—E: uk.office@hadassah.org.uk W: https://hadassahuk.org

Hadassah UK is the British office representing Hadassah Hospital, proudly supporting Hadassah Hospital's mission of peaceful coexistence, dedication to saving lives today, and finding medical solutions for a world of tomorrow.

“4s

HADASSAH MEDICAL RELIEF ASSOCIATION UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Summary of Activities and Achievements

Hadassah UK (HUK) continued its mission to raise funds and awareness for Hadassah Medical Organization (HMO), Jerusalem. Activities in 2024-25 focused on expanding rehabilitation services, strengthening surgical and trauma capacity, and addressing urgent post-October 7 mental-health needs. The charity maintained transparent communication, impact reporting, strong governance, and enhanced its UK-wide brand and donor engagement.

Income and Grants

Major Fundraising Highlights

A Night at the Tower of London — December 2024

----- Start of picture text -----
(Spek , Maher irae Sass hey). ae iy ’ rs at.) 4 at oe ,
Mae HIB TORY. e rs ae eae (@ dateat Tee ae. «5
: “he 4 : =
‘a j 5) cad ‘4 ; ‘4 —eee eKELUSTORY. : ' LeaSe \ 4 = \ ¥ as hae) mM
----- End of picture text -----*

HUK hosted its most successful event to date, welcoming around 180 international guests for a historic evening at the Tower of London, supported by a week of engagement events including business breakfasts, synagogue services, and private receptions.

This programme formed part of a global campaign which collectively raised $4.5 million.

Record online engagement followed the campaign theme "We Felt History. We Made History — at the Tower of London", generating a surge in donor interest.

Appeals and Donor Campaigns

-2-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Legacies and Designated Gifts

Community Fundraising

Programme and Capital Support

Gandel Rehabilitation Centre (Mt Scopus)

----- Start of picture text -----
\
i
} . ‘ : So ree ane a i { - ne be (My 3
ee reo tk Boeke ele ey Me * th i’ 1s [Fe
velak | is | MRee r = Sere‘ Pata6 “ae * ee ve + eeeee. —UN. yy-- ~ : seats
1 ocewmoree ee, a iy (ea coon Gy, Aree No * i i
4 =~ ie i Hens eaixia cit az — ar" ‘ _ 3 oui Thy 4 6
----- End of picture text -----

Following the Centre’s soft launch and first patient admissions, HUK funding supported physiotherapy and orthopaedic treatment spaces. Equipment procurement continued, including the Gamma Camera and mobility devices.

Innovation and Equipment

Mental Health and Resilience — Bridge to Resilience UK Programme

Launched in May 2025 to address post-conflict mental-health needs.

Upcoming activities include:

3%

HADASSAH MEDICAL RELIEF ASSOCIATION UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Advocacy, Partnerships and Engagement

International Collaboration and Policy Links

Medical and Professional Networks

Partnerships expanded through medical associations and fellowship networks to broaden medical-exchange opportunities.

International Reputation and Upcoming Events

HUK’'s December activity strengthened its global reputation and aligned with international campaigns on rehabilitation and trauma care.

Planning is underway for Hadassah Paris 2025, including a major dinner at a historic venue and an after-party at a landmark Paris location, built around a theme of “Light.”

Communications and Digital Growth

Governance and Operations

HUK continued to operate with a small professional team, together with the support of specialist consultants, in digital engagement, events, and donor relations. Trustees maintained strong oversight of reserves and compliance with charitable and regulatory requirements, ensuring cost-efficient and transparent operations.

Summary

The year marked transformational growth for HUK:

These achievements create strong foundations for the 2025-26 strategic plan and the upcoming Paris 2025 global event.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Association should undertake.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum and articles of association, applicable law and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in 2015.

i

-4-

HADASSAH MEDICAL RELIEF ASSOCIATION UK TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Achievements and performance

The excess of income over expenditure for the year is shown at page 12.

At 31 May 2025 the state of affairs of the Association was satisfactory.

There have been no important events affecting the Association since the year end and no major future developments in the activities of the Association are anticipated.

Total incoming resources amounted to £1,068,910, a decrease of £181,551 compared with the previous year due largely to increased donations in the previous year for an emergency appeal following the terrorist attack on Israel in October 2023.

In addition to these donations, other donations from UK donors directly to Hadassah Hospital this year total $145,000, the equivalent of approximately £109,000 additional to the above figure.

Direct charitable expenditure, all made to the Hadassah Medical Organisation in Jerusalem, Israel, amounted to £579,114, a decrease of £441,535 over the previous year.

The costs of managing and administering the Association have fallen by approximately 15%, due largely to temporary reductions in staffing levels during part of the financial year.

The Association held its first major donor international fundraising gala on Wednesday 4th December 2024 at the iconic Tower of London, followed by a charity dinner Thames cruise the next day. Smaller parlour events with key donors were held in the same week to promote the important work of the Hadassah Medical Organization in Jerusalem.

These events formed part of a global campaign which raised $4.5 million collectively to fund the completion of the Gandel Rehabilitation Centre at Hadassah Mount Scopus, and were co-sponsored by Hadassah International, who reimbursed the Association for 50% of the Tower of London Gala Dinner and for 65% of the charity dinner cruise.

The Association's day to day activities are administered by its employees and trustees. Its trustees are responsible for the consideration and authorisation of the charitable donations made by the Association.

Financial review

The Balance Sheet on page 13 shows the financial position of the Association as at 31 May 2025. Total assets less current liabilities amounted to £834,472, of which £367,572 is represented by endowment funds, which cannot be remitted now, the balance being represented by the accumulated balance on the unrestricted income funds of £246,350 and funds designated for future charitable expenditure of £220,550, which were promptly remitted to Hadassah Hospital, after year-end.

The net current assets represent monies held in order to meet ongoing overheads, investments held for endowment funds, and also funds received that have yet to be applied towards the Association's charitable objectives. The trustees have reviewed the unrestricted reserves of the Association. The trustees believe that it is prudent to maintain a level of unrestricted reserves that will be sufficient to cover the anticipated costs for each ensuing year of fundraising, publicity, administration and management. They are satisfied that the current level of reserves will be sufficient for this purpose. The Trustee Board or Management use their discretion in relation to the use of these funds.

The trustees regularly review the major risks to which the Association is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Hadassah Medical Relief Association UK (The Association) is a company limited by guarantee. The Association is also a registered charity and is governed by its memorandum and articles of association and by the relevant sections of the Charities Act 1993.

-5-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

oS

The trustees who served during the year were as follows, Mr M D Paianer CBE Mr J J Roboh Mrs G Shamash Mr D Waterman Dr H Daitz Dr M Bloch Mrs E Marks Dr N Greenwoild

New trustees are given the Charities Commission "The Essential Trustee; What You Need To Know" as recommended by the Charities Commission which outlines their duties and responsibilities as trustees,

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Auditor In accordance with the company’s articles, a resolution proposing that Glazers be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of Information to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

----- Start of picture text -----
The trustees’ report was approved by the Buarg_of Trustees.
MrD Waterman / “ Lr LE 3
Chair of Trustees es Lf
Daind ta kof a
----- End of picture text -----

-6-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY 2025

The trustees, who are also the directors of Hadassah Medical Relief Association UK for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Association and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

-7-

HADASSAH MEDICAL RELIEF ASSOCIATION UK INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HADASSAH MEDICAL RELIEF ASSOCIATION UK

Opinion

We have audited the financial statements of Hadassah Medical Relief Association UK (the ‘Association’) for the year ended 31 May 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Association's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or

-8-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF HADASSAH MEDICAL RELIEF ASSOCIATION UK

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the Association for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Association's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or etror and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

eS

-9-

HADASSAH MEDICAL RELIEF ASSOCIATION UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HADASSAH MEDICAL RELIEF ASSOCIATION UK

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

1) Enquiries of management concerning the charity's policies and procedures relating to:

2) The company's remuneration policies, and

3) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and IFRS as issued by the IASB and adopted by the EU, and "Accounting 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Trustees and other management are responsible for such internal control as the Trustees and other management of the Charity determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

ee

-10-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HADASSAH MEDICAL RELIEF ASSOCIATION UK

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Philippe Herszaft ACA (Senior Statutory Auditor) For and on behalf of Glazers, Statutory Auditor Chartered Accountants 843 Finchley Road London Date:NW11 8NA. Le ANP wen bozo

Glazers is eligible for appointment as auditor of the Association by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

-1-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MAY 2025

Unrestricted Designated Endowment Total Total
funds funds funds 2025 2024
Notes £ £ £ £ £
Income from:
Donations and legacies 3 584,776 481,550 - 1,066,326 1,247,701
Investments 4 679 - 1,905 2,584 2,760
Total income and endowments 585,455 481,550 1,905 1,068,910 1,250,461
Expenditure on:
Raising funds 5 198,452 - 198,452 18,177
Charitable activities 6 182,640 579,114 - 761,754 1,147,410
Endowment grants payable . - 7,500 7,500 9,750
Total resources expended 381,092 579,114 7,500 967,706 1,175,337
Net gains on investments 12 284 . 19,373 19,657 31,324
Net incoming resources before
transfers 204,647 (97,564) 13,778 120,861 106,448
Gross transfers between funds (249,000) 249,000 - - -
Net movement in funds (44,353) 151,436 13,778 120,861 106,448
Fund balances at 1 June 2024 290,703 69,114 353,794 713,611 607,163
Fund balances at 31 May 2025 246,350 220,550 367,572 834,472 713,611

The statement of financial activities includes all gains and losses recognised in the year.

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

-12-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

BALANCE SHEET

AS AT 31 MAY 2025

2025 2024
Notes £ £ £ £
Current assets
Debtors 14 1,582 251
Investments 15 362,043 372,386
Cash at bank and in hand 476,981 345,850
840,606 718,487
Creditors: amounts falling due within
one year 16 (6,134) (4,876)
Net current assets 834,472 713,611
Capital funds
Endowment funds 18 367,572 353,794
Income funds
Designated funds 19 220,550 69,114
Unrestricted funds 246,350 290,703
834,472 713,611

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation offinancial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on Be 2 by nly th

Mr D Waterman

Chair of Trustees

Company Registration No. 02962092

-13-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2025

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|23|98,547|78,309| |Investing|activities| |Investment|income|received|2,584|2,760| |Net|cash|generated|from|investing| |activities|2,584|2,760| |Financing|activities| |Cash|drawn|down|from|investment|30,000|:| |Net|cash|generated|from/(used|in)| |financing|activities|30,000|-| |Net|increase|in|cash|and|cash|equivalents| |131,131|81,069| |Cash|and|cash|equivalents|at|beginning|of year|345,850|264,781| |Cash|and|cash|equivalents|at end|of year|476,981|345,850|

----- End of picture text -----

-14-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

Charity information

Hadassah Medical Relief Association UK is a private company limited by guarantee incorporated in England and Wales. The registered office is Beit Meir Building, 44b Albert Road, Hendon, London, NW2 2SJ, United Kingdom.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Association's governing document, the Companies Act 2006, 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Association is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Association. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. In particular, the trustees have considered the effects of the coronavirus pandemic and have a reasonable expectation that adequate reserves are held to cover any resulting downturn in incoming resources. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Association.

Income is recognised when the Association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Pecuniary legacies are recognised on receipt.

-15-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 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 costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to 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.

Direct charitable expenditure comprises expenses incurred directly in pursuance of the Association's principal activity.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to that category.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment

15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

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 maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The Association has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Association's balance sheet when the Association becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

-16-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at 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 that 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 Jess. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Association's contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the Association is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net outgoing resources.

2 Critical accounting estimates and judgements

In the application of the Association's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

-17-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Designated|Total|Total| |funds|funds|2025|2024| |£|£|£|£| |Donations|and|gifts|208,591|481,550|690,141|560,795| |Legacies|receivable|376,185|-|376,185|686,906| |584,776|481,550|1,066,326|1,247,701| |For|the|year|ended|31|May|2024|797,957|449,744|1,247,701| |4|Investments| |Unrestricted|Endowment|Total|Total| |funds|funds|2025|2024| |general| |£|£|£|£| |Income|from|listed|investments|655|1,905|2,560|2,737| |Interest|receivable|24|-|24|23| |679|1,905|2,584|2,760| |For the|year ended|31|May|2024|855|1,905|2,760|

----- End of picture text -----

5 Raising funds

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Fundraising|and|publicity| |Fundraising|5,438|6,578| |Advertising|and|mailshots|18,947|11,599| |Event|costs|174,067|-| |Fundraising|and|pubiicity|198,452|18,177| |198,452|18,177| |For|the|year|ended|31|May|2024| |Fundraising|and|publicity|18,177|

----- End of picture text -----

-18-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

6 Charitable activities

2025 2024
£ £
Grant funding of activities (see note 7) 579,114 1,020,639
Share ofsupport costs (see note 8) 173,734 103,273
Share ofgovernance costs (see note 8) 8,906 23,498
761,754 1,147,410
Analysis by fund
Unrestricted funds 182,640
Designated funds 579,114
761,754
For the year ended 31 May 2024
Unrestricted funds 126,771
Designated funds 1,020,639
1,147,410
Grants payable
2025 2024
£ £
Grants to institutions:
Other 579,114 1,020,639

7 Grants payable

All grants were paid to the Hadassah Medical Organisation, in accordance with the objects of the charity, and designated for specific purposes within that organisation.

-19-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

8 Support costs

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Support|Governance|2025Support|costs|Governance|2024| |costs|costs|costs| |£|£|£|£|£|£| |Staff costs|157,277|-|157,277|87,872|=|87,872| |Depreciation|-|-|-|382|-|382| |Rent|and|rates|7,800|-|7,800|7,800|-|7,800| |Insurance|3,401|-|3,401|3,023|-|3,023| |Repairs|and| |maintenance|1,128|-|1,128|1,981|-|1,981| |Postage|and|stationery|1,094|-|1,094|364|364| |Telephone|209|-|209|332|-|332| |Travelling|expenses|642|-|642|277|277| |Sundry|expenses|1,551|-|1,551|537|-|537| |Bank|charges|632|-|632|705|-|705| |Audit|fees|-|3,900|3,900|-|3,900|3,900| |Legal|and|professional|-|5,006|5,006|-|19,598|19,598| |173,734|8,906|182,640|103,273|23,498|126,771| |Analysed|between| |Charitable|activities|173,734|8,906|182,640|103,273|23,498|126,771| |Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|to|the|charity's|auditor:| |-|for|the|audit|of the|charity's|financial|statements|3,900|3,900| |-|for|other|financial|services|3,092|1,798| |Depreciation|of owned|tangible|fixed|assets|*|382|

----- End of picture text -----

9 Net movement in funds

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Association during the year.

No emoluments or expenses were paid to trustees in this or the previous year.

-20-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

11. Employees

Number of employees

The average monthly number of employees during the year was:

2025 2024
Number Number
3 2
Employment costs 2025 2024
£ £
Wages and salaries 138,931 69,773
Social security costs 8,694 2,517
Other pension costs 9,652 15,582
157,277 87,872

12 Net gains/(losses) on investments

Unrestricted Endowment Total Unrestricted Endowment Total
funds funds funds funds
general general
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Revaluation of
investments 284 19,373 19,657 68 31,256 31,324

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Debtors

2025 2024 Amounts falling due within one year: £ £ Other debtors 1,326 - Prepayments and accrued income 256 251 1,582 251 Current asset investments 2025 2024 £ £ Listed investments 362,043 372,386

15 Current asset investments

Listed investments

-21-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

16 Creditors: amounts falling due within one year

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Trade|creditors|1,788|660| |Other|creditors|=|166| |Accruals|and|deferred|income|4,346|4,050| |6,134|4,876| |17|Retirement|benefit|schemes| |2025|2024| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|9,652|15,582|

----- End of picture text -----

The Association operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Association in an independently administered fund.

18 Endowment funds

Endowment funds represent assets which must be held permanently by the Association. Income arising on the endowment funds can be used in accordance with the objects of the Association and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |At|1|June|Incoming|Resources|Gains|and|At|31|May| |2024|resources|expended|losses|2025| |£|£|£|£|£| |Permanent|endowments| |353,794|1,905|(7,500)|19,373|367,572| |Previous|year:|At|1|June|Incoming|Resources|Gains|and|At|31|May| |2023|resources|expended|losses|2024| |£|£|£|£|£| |Permanent|endowments| |330,383|1,905|(9,750)|31,256|353,794|

----- End of picture text -----

-22-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

19 Other material funds

These are designated funds which are material to the Association's activities.

At 1 June Incoming Resources Transfers At 31 May
2024 resources expended 2025
£ £ £ £ £
69,114 481,550 (579,114) 249,000 220,550
Previous year: At 1 June Incoming Resources Transfers At 31 May
2023 resources expended 2024
£ £ £ £ £
51,540 449,744 (1,020,639) 588,469 69,114

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June Incoming Resources Transfers Gains and At 31 May
2024 resources expended losses 2025
£ £ £ £ £ £
General funds 290,703 585,455 (381,092) (249,000) 284 246,350
Previous year: At 1 June Incoming Resources Transfers Gains and At 31 May
2023 resources expended losses 2024
£ £ £ £ £ £
Generalfunds 225,240 798,812 (144,948) (588,469) 68 290,703

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

21. ~=Analysis of net assets between funds
Unrestricted Designated Endowment Total Unres
2025 2025 2025 2025
£ £ £ £
Fund balances at 31 May2025 are
represented by:
Current assets/(liabilities) 246,350 220,550 367,572 834,472 2!
246,350 220,550 367,572 834,472 2!

Two endowment funds are held, the Katz Memorial Fund and the Bernhard Zondek Fund, the income from both of w involved in medical training or research at Hadassah Medical Organisation in Jerusalem.

-24-

HADASSAH MEDICAL RELIEF ASSOCIATION UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

22 _~_Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

23 Cash generated from operations 2025 2024
£ £
Surplus for the year 120,861 106,448
Adjustments for:
Investment income recognised in statement offinancial activities (2,584) (2,760)
Fair value gains and losses on investments (19,657) (31,324)
Depreciation and impairment oftangible fixed assets - 382
Movements in working capital:
(Increase)/decrease in debtors (1,331) 5,773
Increase/(decrease) in creditors 1,258 (210)
Cashgeneratedfromoperations 98,547 78,309

24 =~ Analysis of changes in net funds

The Association had no material debt during the year.

-25-