Aish Hatorah UK Limited (Limited by guarantee) Company number 03413207 Charity number 1069048 Trustees. Report And Fitwicia] Statements For th¢ year ¢nd¢d 31 De¢emb¢r 2024
Aish Hatorgh UK Llmited Contents Page Legal and administrativ¢ inforntiOn Trust¢¢s' report Independent Auditor's report Statement of fmancial activities io Balance sheet Ststrment of cash flows 12 Notes to the fmancial statements
Page I Aish Hatorah UK Llmited Legal and admillistrative information Directors l Trustees A Steene (Chair) (resigned 30 June 2025) S Fine D Green D Meshulam (resigned 17 June 2025) A Moshal (resigned 6 May 2024) N Schiff B Wigoder (appointed 3 July 2023) Key management personnel Chief Exe¢utive N Schiff Principal Address and Registered Office Mountcliff House 154 Brent Street London NW4 2DR Details of Incorporation The company was incorporated on l August 1997 in England under company registration number 03413207, and was registered with the Charity Commission on 6 April 1998, with charity number 1069048. Auditor5 Goldwins Limited Chartered Accountants 75 Maygrove Road London, NW6 2EG Bankers National Westminster Bank PIC 21 Golders Green Road London NWII 8EB
Page 2 Aish Hatorah UK Limited Trustees, Report The trustees, who are also directors of the Ckmrity for the puq)oses of the Companies Ac¢ submit their annual report and the financial stalemenls of Aish Hatorab UK Lin]ited {the Company) for the year ended 31 December 2024. The Intee$ confinn that the annual report and financial statements of the Company comply with Current ststutory requirements, the requirements of the Company's governing document and the pmvisions of the Ststement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2015. Legal and administrative infornlation set out on page I forn part of this rep)rL Structure and Governanee Aish Hatorah UK Limited is a company limited by guarantee and registered as a ¢l)aritsble company. The Charity's objects are set out below. The trustees, who are also the directOT5 for the PUTpose of company law, and who served during the year were S Fine, D Green, D Meshulam, A Moshal, N Schiff and A Steene. None of the trustees have any beneficial interest in the Company. Jewish Futures Trust Limited. the parent company, is the only member of the Company and guarantees to contribute £1 in the event of a winding up. Key Management Personel are considered to be the Trustees and the Chief Executive as listed on Page l. The management of the Charity is the responsil)ility of the truslees who are appointed under the ternis of the Articles of Association. The number of IteeS shall not be subject ¢0 any maximum but shall not be le&8 than two. The appoinlment and training of a new ttee is subject to the oversight of aLrrenl trustees. Recruithient of trustees is made via recofflmendation and appoinlment through a majority vote of the existing Trnstees. New Trustees are given a fornial induction and encouraged to see the Charity's work at first hand. There are no specific restrictions imposed by the governing document concerning the way the Charity can operate. Charity's Objectives and Aetivities The Charity airns to reach out to young Jewish people in the UK in order lo make the wisdom. depth and beauty of their heritage accessible, and thus to help promote a vibrant future for the British Jewish community. Over the past few years the educational remit has widened to allow for a broader spectrurn of the community to benefit from the educational expertise and experience of the Charity. The core of the educational philosophy is to share with young people a sense of moral responsibility and ethical values that instil a sense of pride in Jewish heritage as well as upright citizenship in wider society. The Charity seeks to achieve this objective through regular educational. social and religious events across the , with overseas educational programmes in the summer and at other key points in the year. All activity ¢ontinues to be focused for the benefit of young people in the UK. Achievements and Performance The main, specific a¢hievements of the Charity in the year under review, included: 2.800 educational Se10n5 that attracted closc to 6,(M)O unique participants and over 4,000,000 views of digital content. UK-wide educational and swial activitAes, both online and offline. with thousands of programme participants at 23 university campuses and 20 schools nationwide" Running Iwenty eighi international trips for Schools. University shldents and Young Professionals. Produced and published six new online courses on our innovative online learning platforn). Maven
Page 3 Aisb Hatorah UK Limited Trustees. Report (continued) Achievements and Performanffj continued Provided Shabbat and Festival hospitslity for 3,854 individuals Ran regular education progrdmmes in Hendon. Hampstead, London, and Manchester, sold out social events, Shabbat experiences and developed the Maven educational progrdmmes" The Charity raised £2.876,272 (2023: £2,855,532) of donated income. participant Contributions of £283,045 (2023: £392,407). It invested £3,098,271 in charitsble activities (2023: £3,552,437). The Charity invested in additional resources to expand and develop in person educational activities and needed to CsUre that increasing supporter donations were having the m&ximum impact for charitable activities. Fundraising The Charity is committed to the highest standards in fundTaising. At all times we will ensure that we are respectful, open, honest and accountsble to our supp)rters. Our fundraising is personal and targeted and is primarily focussed on those individuals and institutions who have expressed interest in our work. We do not engage in fundraising activities like m&ss mailings or door- to-door campaigns. but focus on campaigns that target those who have previously engaged with or supported the Charity. The Charity ha5 a small fundraising team composed of the Chief Executive, a Fundraiser, and an Administrator. The Tntee5 provide oversight of fidraiSing strategy and delivery. The Fundrdising Team r¢¢eive regular training and guidance and aim to adhere to rnethods of best practise including the Fundraising Regulator's Code of Fundraising Pta¢tice. The Charity does not use third party organisations to raise funds, and underno ¢ircumsLqnces does the Charity share personal infornlation of OUT SUPPOrters for the pu4)oses of third party marketing or PreSSing. There have been no complaints aknut fundraising activities rq)orted in the year to 31 December 2024, or subsequently. The Charity is a signatory of the Fundraising Regvlaior's Code of Fundraising Practice. This code was established in 2016 with an aim of setting and mainlaining the standards for charitable fundrdising while ensuring that fimdraisAng is respectful. open, honest and accountsble to the publi¢. All the Charity's fundraising activtties will now mplY with the Fundraising Code and Ihe Charity has agrttd to adhere to the Code's requirement on handling any breaches of the Code or complaints about the Charity's fundraising activities. Financial Revlew The Charity incuTred a deficit in the year £66,772 (2023 deficii £479,060). As at 31 December 2024 the Charity had net reserves of £108,996 (2023: £175.767). The Charity had Free Reservas (its current assets le&s current liabilities) as at 31 December 2024 of £56.735 (2023- £123,507). The Charity is supported by a broad spectrum of donors from across the community, ranging from grassroots Sdent-level program participants and alumni to a number of philanthropists who partner with our Charity and encourage our activities.
Page 4 Aish Hatorah UK Limited Trnstees, Report (continued) Financial Review, continued Most fundt7ising is done through direct Telationships with our partners and through effective con]munication of the importance of our work to the wider audience of our supporters. The Charity is seeking to improve its fundraising capabilities as, at presenL the large majority of the fundraising reswnsibility still remains with the Chief Executive. The Charity is seeking to ensure that this responsibility is more broadly shared and is exploring how best to optimise its fundraising aclivities. All of the Charity's expenditure is fwused on Creating and delivering a wide rdnge of successful high-quality educational courses and wular. impacthl activities that deliver its slated charitable objectives. Key Rlsks and Untertaitities The trustees have aSSeed the major risks to which the Charity is exposed. and satisfied that Systems are in place to mitigate exposure to the major risks. A reduction in donor base could Cause cash flow issues. any delayed receipt of pledged donalions income could also potentially Cause ¢&sh flow issues. The major ri$ks facing the Charity are reviewed regularly at management meetings. Regular reviews of cash flow projections and budget fore¢&sts are also undertaken, as well as a continual drive to manage expenditure. Reserves Until 2020 the Charity operata with a low level of reserves for many years and managed its activities on this basis, controlling its costs to the level that is fmanceable from its annual income. During 2020 the Charity was able to eslablish Free Reserves in excess of £500,000 (representing close to 3 Months worth of general costs), which is a target that the TnleeS aiming to reach. During 2024 the level of Free Reserves fell below the target value as the Charity devoted resources for its ¢harilable activities, and will be aiming in ture years to re-establish a reserve level of 3 months of generdl costs. Pay policy for key management personnel Pay and remuneration of key management personnel is deterniined by a variety of contributory factors, including the size of the Charity and the level of experience of tbe staff member. In addition to this. levels of pay may be affected by the ability to remiit key management persotlnel and retain them in posL which all coincides with the Charity's appointment and pay ]K)licies. All amendments to key management's pay and remuneration are discussed and agreed by the tNsiees. While trustees are considered key management personnel, no tntee receives any remuneration or is paid expenses for their services as trustee.
Page 5 Alsh Hatorah UK Limited Trustees. Report (eontinued) Public Benefit The lrnstees acknowledge the duty in Section 17 of the Chartties Act 2011 to have due regard to the Charity Commission's published general and relevant sulFsector guidance on public benefit. All activities undertaken by the Charity are for the public benefiL With a focus on provAding education, the Charity's operdtion is very much geared to providing benefit to the Jewish and wider community as Is highlighted by the activities reported herein. The core of the educational philosophy is to share with young people a sense of mordl responsibility and ethical values that instil a sense of pride in Jewish heritage &s well as upright Citizenship in wi(kr society. This will continue to be central to future plans. Plans for the Future The main activities intended to be underthken by the Charity will continue to be the provision of regular ethicational, social and religious events acro&s the UK and with overseas educational progrdmmes. If fimds pemiit the trustees aim to expand branches and programmes to increase the amouni of opportunities, programmes and events that we can offer. Statement of Trustees. Responsibllilles The trnstees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and regu]ations. Company law requires the trustees to prepare fmancial statements for each fllwicial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards} and appltcable law. Under company law the trustees must not appTove the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the net incoming reserves for that period. In preparing these fmancia] statements, the trustees are required to: select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and pnen( state whether applicable accounting stsndards have been followe4 subject to any departur disclosed and explained in the financial slalements" prepare the fmancial stsments on the going concern basis unless it is inappropriate to presume that the Charity will continue to opera. The trustees are responsible for keeping adequate accounting records thai aff sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevenlion and detection of fraud and other Iegular1tjes.
Page 6 Ai¥h Hatorab UK Limlted Trust¢esg Rert (eODtinued) Stit¢m¢nt of Trutees. Responslbillt4 contiDued included on the Charity's website. Insofar as each of the trustees of the Charity at the datc of approval of this report is aware there 15 no relevant audit infornmtion (lnforntIoD needed by the Chariry's auditor in conncdion with preparing the audit report) of which the ChaTity'S auditor is unaware. Eath tswtee has taken all ofth¢ • that he should have taken as a trustee in order to make himself aware of any relevant audit InfOn and to establish that the Charity's auditors are aware of that informati( Sm•ll Comp*nleJ Exernptlo In preparing this reporL the direct(ws have taken advantsg¢ of th¢ small LY)mpani¢s exemptiM provided by sertion 415A of the Compmnics Art 2006. Auditon Golth¥ins Limi¢¢d has expressed awillingness to be aK)Inted auditors. A resolution to appoint thern will be propwd atthe Annual General Meetin& Thts report has been approved by the tnLStees on 27 (knber 2025 and signed on their behalf by: Neil Setsiff Trustee
Page 7 Aish Hatorah UK Limited Independent Auditor's Report to the Members of Aish Hatorah UK Ltd Opinion We have audited the financial statements of Aish Hatorah UK Ltd for the year ended 31 December 2024 which comprise the Stttement of Financial Activities. Balance Sheet. Statement of Cash Flows and notes to the financial staiements, including significani accounting lIcIes. The financial reporting framework thai has been applied in their preparation is applicable law and United Kingdom Accounting SLdards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Jreland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial ststements: give a true and faiT view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended. have been properly prepared in accordance with United Kingdorn Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Compani&s Act 2006. Basis for opinion We conducted our audit in OrdanCe wilh International Stsndards on Auditing (UK} (ISAS (UK)) and applicable law. Our responsiljilities under those slandards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of th¢ charitable company in accordance with the ethical requirements thai are relevant to our audit of the financial slaternents in the UK, including the FRC'S Ethical Standard, and we have fulfjlled OUT other ethi¢al responsibililies in accordance with these requirements. We beli¢ thal the audit evidence we have obtstned is sufficient and appropriate to provide a basis for our opioion. Condusions 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 fmancial slatements is appropriate. Based on the work we have fOrnIed. we have not identified any material uncertainties relating to events or conditions thaL individually or collectively. may cast significant doubt on the ¢t[lble company's abilily to Continue &s a going concern for a period of at le&st twelve months from when the fmancial statements are authorised for issue. Our responsibilities and the resFK)nsibilities of the trustees with respect lo going concern are described in the relevant sections of this rq)orL Other infonnation The trustees are responsible for the other infonnation contained within the annual report. The other infomation comprises the infornlation included in the amiual report. other than the financial statements and our auditor's report thereon. Our opinion on the fmancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our rewrL we do not expre&s any forni of assurance conclusion thereon. Our responsibility is to read the other infonnation an in doing so, consider whether the other infonnation is materlally inconsistent with the financial stalements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detennine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfonned, we conclude that there is a material misstatement of this other infornution, we are required to report that facL We have nothing to report in this regard.
Page 8 Aish Hatorah UK Limited Independenl Audltor's Report to the Members of Aish Halorah UK Ltd (conilnued) Opinions on other matters prescribed by the Companies Acl 2006 In OUT opinion based on thc work underthken in the COUTSC of our audit the infonnation given in the trustees. report, which includes the direciofs, Teport prepared for the PUTposes of company law, for the financial year for which the fjnancial statements are prepared is consistent with the financia] statements" and the directors. report included within the t. rq)ort have been pr• in accordance with applicable legal requirements. Matters on which Trve are required to report by exception In light of the knowledge and understsnding of the ¢haTitable company and its environrnent obtsined in the course of the audiL we have not identified material mi&stat¢ments in the directors, report included within the Trustees. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kq)L or the financial statements are not in agreement with the accounling records and returns. or certain disclosures of trSte¢S, remuneration specified by law are not made" or we have not received all the infom)ation and explanations we require for our audit or the Irustees were nol entitled to prepare the fman¢ial statements in aG¢ordan¢e with the Small companies regime and tske advantage of the small companies exemption in preparing the trustees. report. Responsibilities of trustees As explained more fillly in the tnttts' responsibilities stalement set out on pages 5 and 6. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for ihe preparation of ihe financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Irustees deterniine is lo enable the prqwation of financial slatements that are free from material misstatement, whether due to fraud or eOr. In preparing the financia] statements, the trustecs are responsible for a&sessing the charitable company's ability to Continue as a going concern. disclosing. as applicable, matters relaied to going concern and using the gotng concern basis of accouniing unle&s the trnstees 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 fanCIal statements Our objectives are to obtatn reasonable a&surance about whether the financial statements as a whole are free from maierial misststemenL whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurdnce. bul is not a guardntee that an audil conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misqtatements can arise from fraud or etror and are considered material if. individually or in the aggregate, they could reasonably be expecied to influence the economic decisions of usets taken on the basis of these financial statements.
Pagc 9 Aish Hatorah UK Limlted Independent Auditor's Report to the Members of Aish Hatorah UK Ltd (eontlnued) Irregularities, including fraud, are instances of non-compliance with laws and regu]alions. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of Irregularities, including fraud. The extent to which our predureS are capable of detecting IegulaTities, including fraud is detsiled below: We obtained an understanding of the legal and regulatory frameworks within which the company operdtes, focusing on those laws and regulations that have a direct effecl on the deterniination of material amounts and disclosures in the fmancial statements. The laws and regulations we considered in this context were the Charities SORP (FRS102) 2019 and Companies Act 2(K)6. We identified the greatest risk of material impact on the fmancial ststements from irregularities. including fraud, io be the override of controls by management and the recognition of in¢om¢. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals. sample testing on income recognized in the accounts and reviewing accounting estimates for bi&ses. Owing to the inhereni limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statetnents, even though we have properly plamied and perfonned our audit in accordance with auditing standarLL8. We are not responsible for preventing non-compliance and cannot be expected to detect non<ompliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resuhing from fraud as tbis may involve sophislicated schemes designed to avoid detection, including deliberdte failure to record transaction& collusion or the provision of intentional misrepresffltations. A fLher description of our responsibilities for the audit of the fman¢ial statem¢nts is located on the Financial Rq)orting Council's websi* at.. www.frc.or J uklaudilorsres nsibililies. This description fornls part of our auditor's reporL Use of our report This report 18 made solely to the charitable company's members. as a body, in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit Work has been undertsken so that we might stale to the charitable company's members those matters we are required to slate to them in an auditor's report and for no other puoSe. To the fullest extent pernitted by law, we do not accept OT assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work for Ihis reporL or for ihe opinions we have foTmed. Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldivin5 Limited Slatutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG 27 October 2025
Page 10 Aish Hatorah UK Limited Statement of Finaneial Activities (Including Income and Expenditure Aeeount) for the year ended 31 December 2024 Not¢ 2024 2023 Ineome from: Donations and legacies 2,876272 2,855,532 Charitable activiti." Participant payments 283,045 392,407 Other Income Total income 3.159,317 3,247,939 Expenditsre on: Raisingfunds." Donor fundraising costs 127,818 174,562 Expendilure on charilable activi11.. Charitable activities 3,098,271 3,552,437 Tota] expeDditure 3,226,089 3,726,999 Net (expendilureyincome for the year (66,772) {479,060) R¢¢on¢iliatioA of fund$: Total funds broughi forward 175 767 654 827 Total fvnds ¢arrled forward 108,995 175,767 The Statemenl of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The notes on pages 13 to 21 forn) part of these accounts.
Pagell Atsh Hatorah UK Limlted Company number 03413207 Bxlance Sbt As at 31 Decemb¢r 2024 Nol¢ 2024 2023 Fixed Assets io 52 52,260 52.H) 522fA) Current Aets 147.940 205.984 I36 C&sh at bank and in hand 263.768 315,620 Creditors: Amounts falling due Ivithin one year 12 Net curr¢ttt a 56.735 123.507 Totsl assets kss ¢urrent bIlit$ 108.995 175.767 Net assets I08,995 175.767 Funds Unrestrict fund5 14 108,995 175,767 Total funds 108.995 175.767 The financial st8tem¢nts have been preped in adance with the special provisions relating to companies subject to th¢ small companies Yew within Part 15 ofthe Comp]eS A( 20CIS. The accounts were approved by the trustees and authl$¢d for issue on 27 October 2(r25. Nell Schlff Trustee The notes (m pages 13 to 21 forni rt of these accourts.
Page 12 Aish Hatorah UK Lin)ited Statement of Cash Flows As at 31 December 2024 2024 2023 Cash flows from operating activities: Net incoming resources (Increase)/decrease in debtors (66,772) 58,044 (479,060) 37,121 Increase/(decrease) in Creditors other than bank loans Net eash providedl(consumed)by operating actlvities 5,710 {352.727) Cash flows from fancIng activities Bank overdraft and credit cards advancesl{repayments) Repayment of loans 482 (3,131) Net eash provlded byl(spent on) financing activities 482 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 6,192 109 636 (355,858) 465 494 Total cash and cash equivalents at the end of the year 115.828 109,636
Page 13 Aish Hatorah UK Limited Notes to the Accounts- 31 December 2024 Company inforniation The principal activity of Aish Hatorah UK Lijnited is the advancement of Jewish ethation and culture. The Company is regTrstered &8 a charitable company limited by guarantee (cornpany number: 03413207. charity number 1069048). It is incorporated and domiciled in the UK. The address of the registered olT1 is 379 Hendon Way, London NW4 3LP. Accounting Policies Basis of Accounting The financial statements have been prepared under tbe historical cost convention and in accordance with the Ststement of Recommended Practice, Accounting and Reporting by Charities {SORP 2015), applicable UK accounting stsndards including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. The Company meets the defjnition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The principal a¢¢ounting policies adopted in the prq)uation of the financial statements are &8 follows: Going Concern The Charity generated a deficit of £66.772 {2023: £479.060 deficit). with net resetves at 31 December 2024 of £108,995 (2023: £175,767). During the current year, frotn l January 2025, the trustees are expecting to generdte a modest surplus flecting continuing support from donoTS and control on expenditure. For these reasons, the trustees Consider that there are no material uncertainities about the Charity's ability lo continue as a going concern and have reasonable expectations that the Charity has adequate resources to continue its activities for the foreseeable fvture. Accordingly they continue to adopt the going concern basis of acwunting in preparing the annual flliancial statements. Income All incoming resources are included on the Ststement of Financial Activities when the Charity is legally entitled to the income and the amount Can be quantified with asOnable accuracy.
Page l4 Aish Hatorah UK Limited Noles to the AccouDts- 31 December 2024 Accounting Policies (continued) Expenditure Costs of fundraising activities are those costs incurred in atlTacting voluntary income. Charitable activities include expenditure associated with the delivery of its activities and include iK)th the direct costs and support costs relating to these activities. Support costs include office rental, residential rental for Rabbis, travel costs and professional fees. These costs have been allocated io the expenditure categories based on the management's estimate of the proportion of time and resources consumed by ¢a¢h of th¢ k¢y activities of the Charity. Liability Recognition Liabilities are recognised as soon as there is a legal or constructive obligation cornmitting the Charity to the expenditure. Tangible Fixed Assets Tangible fixed assets are sthied at cost I$ depreciation. Depreciation is provided at rates ¢alculat¢d to write off the costs of fixed assety less their estimated residual value. over their ¢Kcted useful lives on the following bases: Improvements to leasehold property Plant and equipment Fixtures and fittings Motor vehicles - Over dle tern] of the lease - 250/0 reducing balance - 250/0 reducing balance1330/0 Straight line 250/0 reducing balance Additions to tangible fed assets of le than £3,(KIO are treated as an expense. Heritage Assets Aish Hatorah UK Limited owns reltgious scrolls. These assets aTe untarnished and used to further the Clwity's objectives. They are reflec as heritage assets and are included in the Balance Sheet at cosL Their carrying amounts are reviewed where evidence of impairnient exists and reduced where an irnpairnlent is deemed to bav¢ incurred. In accordance with FRS102, depTeciation is not provided on heritage assets as they are considered to have indefinite lives. The cost of maintenance and repair of heritsge Sets is written off in the year incurrd. Translation of Foreigo Currencies Monetary assets and liabilities denominaied in foreign currcncies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rnte ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.
Page 15 Aish Halorah UK LiD)ited Notes to the Accounts- 31 DeceD)ber 2024 Accounting Policies (continued) Operating Leases Rentals under operdting leases are charged io the Sthtement of Financial Activities on a straight line b&8is over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the peri(yJ until the date the rent is expected to be adjusted lo the Prevailing market rate. Financial Instruments The Charity holds only financial assets and financial liabilities of a kind that qualify as basic financTral inslrnments. B&sic fmancial in.struments include debtors and creditors. Debiors and creditors are initially recognised at transaction value and subsequently measured at fair value. Note 18 provides more inforniation on fuwicial instruments where tUre c&sb flows are anticipated. with financial assels refeing to debior balances excluding prepayments. and financial liabilities referring to all creditor balances excluding deferred income and other t&xation and social security. Government Grants Grants are accounted foT under the performance model as peTmitted by the charity SORTr. Coronavirus Job Retention Scheme and Kick Start grdnt income was therefore recognised on a straight line basis over the furlough period for each relevant employee . Key Judgements and Estimates In the application of the Charity's accounting p)licies. which are described tn note 2, trustees are required to make judgements, estimates and a&sumptions about the carrying values of &wts and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevanL ACtL results nY differ from these estitnates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates a recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the vIsion and future periods if the revision affects the Current and future periods. The tNstees consider that there are no material judgements in applying accounting policies or key SOUTces of estimation uncertainty. Income 2024 2023 Donations and lega¢i¢s Fundrdising Telethon 1,990,652 885 620 2,170,006 685 526 Total income from donations and legacies 2,876272 2.855,532 Incomefrom charilable activities.. Trip and event participant payments 283,045 392,407 All Income in 2023 and 2024 is unrestricted.
Page 16 Aish Hatorah UK Limited Notes to the AccouDts- 31 December 2024 2024 2023 Donor fundraising costs Donor relations Telethon event Travel and accommodation Staff costs Support costs 13,449 55,562 9,092 22,700 33,385 27,523 11,979 75,724 127.818 174.562 Costs in both years are all unrestricted. Analysis of expenditure on chvdritable aetivities Basis of allocation ChaTilable activities SupPrt Costs 2023 Total 2024 Total Staff costs Dired Programme & trip expenditure Direct General office Direct Audit ftts (Governance Costs) DiTect 526.415 1,530,133 288.468 814,883 1.530.133 744,855 963,001 1.861.509 715.507 744,855 2 056 548 3 098 271 3 552 437 Support cost5 1041723 1.041.723 Total charitable activity expenditure { All unrestricted activities) 3 098 271 3 552.437
Page 17 Afish Hatorah UK Limited Y4otes to the Accounts- 31 December 2024 1¥4et (expenditure)lincome for the year 2024 2023 This is stated after charging: Auditors. r¢mun¢ration audit fees 7,000 Analysis of staff COS trustee remnneration and expeDse5 2024 2023 Staff Costs: Wages and salaries Pension costs Social security costs Other staff costs 670,003 8,683 55,818 778,603 10,992 60,275 138313 816,470 988,183 Total remunerdtion paid to key managemenl personnel was £Nil (2023: £50,968). All tn]stees are included as key personnel but have received £Nil rernuneration for their services (2023: £Nil). During the year, no trustee received any benefits in kind for their role as trnstee (2023: £Nil). During the year, no t1¢e received any reimbursement of expenses for their role as trustee (2023- £Nil). During the year, redundancy payments of £Nil {2023 £Nil) were paid. The average number of employees during the year was: 2024 2023 Educational Operational Athninistrativ¢ 27 31 29 35 Employees No employees earned over £60.000 in the year (2023: None)
Page 18 Aish Hatorah UK Limited Notes to the Accounts- 31 December 2024 10 Heritage assets 2024 2023 At l January 2023 Addition in year 52,260 52,260 At 31 December 2023 52.260 52,260 The Charity owns two religious scrolls that Cost £52,260. Thcy are classified as heritage assets in accordance with SORP charity accounting standards. I l Debtors 2024 2023 Trade debtors Amounts owed by other Jewish Futures Trnst group charities Other debtors Prepayments and accrued income 11,183 1,074 55,183 28.175 2,560 62,489 112760 205 984
Pag¢ 19 *Aish Hatorah UK Lfimited otes to the Aecounts- 31 December 2024 2024 2023 12 Creditors: Amounts falling due within one year Bank loans and credit cards Trade creditors Amounts owed to other Jewish Futures Trust group charities Social security and other tsxation Other creditors Accruals and deferred income 13,847 107,946 36,404 21,753 17,883 13,365 107,143 29,183 12,498 18,224 207,033 192,113 13 Capital eommltments Amounts Contract for. but not provided in the accounts, amount to £nil (2023: £nil). 14 Ststement of Funds l January 2024 Incoming Outgoing resources & losses 31 December 2024 gains Unrestricted Fund General funds 175 767 3 159.318 3226.089 108 995 15 Operating lease commitments The following annual commitments existed in respect of non-cancellable operdting leases: 2024 2023 Leases expiring: In le&s than one year Between one and five years 315,790 315,790 315.790 315,790
Page 20 Aish Hatorah UK Limited Notes to the Accounts- 31 December 2024 16 Related Party Transaction5 Jewish Futures Trust Ltd (JFT) is the sole member of the Company. During the year, the Company received donations to the value of £452,500 {2023: £589,361) from JFf. During tbe year the Company was charged £571,152 (2023. £475,986) by JFf for its share of JF[ operdting central facilities and services. JRoots Ltd is a subsidiary of JFT, the sole member of the Company. The Company ran 5 trips (2023: 4 trips) using the services of JRoots Ltd during the year which meant that JRoots Lid incued net costs on behalf of the Company to the value of £128,860 (2023: £94,103). The net costs of these trips were paid to JRoots Ltd. Aish received a grant from JRoots of £300,000 to subsidise educational trips (2023.. £150,000). Jewish Futures Foundation Inc is a charley in the USA which shares a Irustee with JFf. During the year, the Company received donations from JFf Jewish Futures Foundation Inc totslling £1,593 (2023: 947). At the year end, Aish owed JFf-Jewish Futures Foundation Inc £J2,130 (2023: £nil). During the year the TteeS nde donations to the charity of £25.235 (2023: £22.293). 17 ULTIMATE PAREIYT UNDERTAKING AM) CONTROLLING PARTY The Company is a IOOO/o subsidiary of Jewish Futures Tt Limited (JFf). a limitrd liability company. registered number 07884678 and a registeTed charity number 1151066. JFf is involved in public education and cultural activities. The trustees regard JFT as the immediate and ultimateparent company. JFfprepares consolidated annual accounts, including the results of the Company. A copy of the consolidated accounts can be obtained from the JFf head office at Mountcliff HOSe, 154 Brent Streel London NW4 2DR.
Page 21 Ai$h Hatorah UK Limited Notes to the Accounts- 31 December 2024 18 Financial intruments 2024 2023 Charity Financial assets measured at amortised cost 183 268 202 859 Financial liabilities me&sured al amortised cost 207 033 192113 Financial ats &ured at amortised cost include trade debtors. other debtors and cash equivalents. Financial liabilities measured at amortised cosl comprise trade creditors, other creditors, amounts owed to group undertakings and accruals excluding deferred in¢om¢.