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← Magen David Adom UK

2024-12-31-accounts

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Registered Charity Number: 1113409 | Company registered number: 05718138 | MAGEN DAVID ADOM UK (A company limited by guarantee)

CONTENTS

Reference and administrative details of the Charity,
its Trustees and Advisers		 3
CEO’s report 4
Trustees’ report 5 - 11
Independent auditors’ report on the fnancial
statements		 12 - 15
Statement of fnancial activities 16
Balance sheet 17 - 18
Statement of cash fows 19
Notes to the fnancial statements 20 - 39

2

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

TRUSTEES

P. Abram D. Bernstein CBE D. Curtis B. Dingle R. Ellison M. Franks M. Geller R. Jacobs A. Jacobson (appointed 16 January 2024) B. Kalms (resigned 17 September 2024)

M. Meyer

R. Ordever

N. Springer E. Ziff OBE DL Hon DBA (appointed 16 July 2024)

Company registered number 05718138 Charity registered number 1113409

REGISTERED OFFICE

Winston House 2 Dollis Park London N3 1HF

COMPANY SECRETARY

Daniel Burger

CHIEF EXECUTIVE OFFICER

Daniel Burger

INDEPENDENT AUDITORS

BKL Audit LLP Chartered Accountants 35 Ballards Lane London N3 1XW

BANKERS

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Israel Discount Bank Ltd Mapu Street 16 Tel Aviv Yafo Israel National Westminster Bank PLC 250 Regent Street London WC1A 4RY

SOLICITORS

Womble Bond Dickinson LLP 4 More London Riverside London SE1 2AU

Bromhead Johnson LLP 57-59 High Street Twyford Berkshire RG10 9AJ

3

CEO’S REPORT

When reviewing the calendar year 2024, it is impossible to see it as anything other than a continuation of October 7th 2023. With war in the region ongoing and attacks on Israel from Hamas, Hezbollah and the Houthis a regular occurrence, Magen David Adom UK’s focus has been almost exclusively supporting our colleagues in Israel to save more lives. The threat posed by Iran, which came pointedly into view in October of this year, highlights further the risk to Israel’s civilian population and Magen David Adom’s role in keeping them safe.

Being ready, the state of absolute preparedness, is the modus operandi for Magen David Adom right now, and most likely for the foreseeable future. The friends’ societies in the Jewish diaspora and across the world are fully geared to supporting this through fundraising and, in this sense, it has been business as usual. However, so many of our speakers and guests from Israel have come to the UK to tell their 7/10 story.

The year began with a ‘Thank You’ reception for all the Fundraising Champions who responded so quickly and generously in the aftermath of that black Shabbat. It ended with two more hugely successful fundraising dinners. One in London and the other in Manchester. Gilad Erdan, Israel’s former ambassador to the United Nations and now Global President to Magen David Adom spoke in detail about the current geopolitical situation and MDA’s role in Israeli civil society. He was joined by some of the survivors of the Nova festival, most notably DJ Ben Sadeh, who entertained the audience with a stunning set to close the evening.

In between these two highlights were over 30 additional fundraising events at an average of nearly three per month. These included the Impromptu Committee Brunch with John Humphreys, a whisky night in Leeds and concert in Cambridge, to name but a few.

Our supporters also exerted themselves in a variety of ways to raise much needed funds. We had runners and cyclists covering the miles from London to Brighton and across the Royal Parks, as well as our ever-popular golf days in Manchester and London. Not forgetting MDA UK’s ongoing presence at the hugely successful Community Fun Run. All in all, well over 100 people went out and undertook a challenge of some kind to raise money for MDA. A truly astonishing number.

Magen David Adom UK prides itself on being a collaborative organisation. We will work with anyone, anywhere, to promote the work of MDA in Israel. This approach saw us partner with synagogues and communities from Glasgow to Jersey and Maidenhead to Manchester. Further afield, we have supported our colleagues across Europe with their own fundraising endeavours. When Ophir and Shunit, two of the heroes of 7/10, came to speak to MDA audiences in the UK, we also facilitated their presence at the British Ambassador’s residence in Rome and at a dinner in Milan. When one of Israel’s outstanding spokespeople, Jonathan Conricus,

came in May, he addressed sell-out audiences in Essex, Leeds and Manchester as well as London. The reach and response over the past 12 months has been truly nationwide and this has ensured that fundraising in 2024 was able to match the need of those who rely on us in Israel.

The ability to actually visit MDA in Israel and see close-up the reality of their situation and the pressures that come with it, has been somewhat hampered by various travel restrictions and ongoing uncertainty. However, this did not stop us taking two separate missions in 2024. In March we arranged the ‘MDA Solidarity Mission’ to show the people of Israel that we are there for them. In October, to mark the first anniversary of the attacks, we took the ‘MDA Memorial Mission’. This was, in all my time CEO of MDA UK, the most moving and emotional visit I have paid to Israel. Words do not do it justice save to say that it was an honour and privilege to be there and truly humbling to see what we as a community had delivered across the 12 months prior.

Magen David Adom UK is much more than just a fundraising organisation. It is one of our community’s leading advocates for Israel and its people. It is in this capacity that we partnered with the Hostage Families Forum to bring the plight of those still in captivity to new and wide-ranging audiences. Magen David Adom in Israel is the country’s official Red Cross organisation and this relationship means we are able to bring the voices of the hostage families to those that need to hear it.

Magen David Adom UK has been instrumental in taking the survivors and stories from 7.10 to new audiences. Our screenings of BBC Storyville’s ‘We Will Dance Again’ were sold out up and down the country and we have worked with the Hostage Families Forum and Nova festival survivors both here and in Israel.

We have been able to reach further this year in no small part due to the additions to our Trustee Board. In Edward Ziff and Adam Jacobson, we have two individuals who came in at the most testing of times and made an immediate difference. I would like to thank them both and the rest of our trustees, volunteers and of course staff for all that they have done in 2024.

There is no crystal ball when it comes to Israel and the Middle East. What will happen tomorrow is anyone’s guess. For Magen David Adom UK this means that, quite simply, we need to ensure that MDA in Israel is ready for anything. Thanks to the support of donors in the UK and beyond, it has been so far and will long into the future.

Daniel Burger, CEO Date: 09/09/2025

4

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the audited financial statements of the Magen David Adom UK for the 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory

requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The Charity’s charitable objects are defined in the Articles of Association as ‘...primarily to assist Magen David Adom in Israel, or, where in the opinion of the Board of Trustees it is appropriate, in any other equivalent or similar organisation in Israel or anywhere in the world in the work of providing medical care and treatment for persons irrespective of the nationality, race, religion, ethnic origin, age disability, sexual orientation or political affiliation’.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.

b. Strategies for achieving objectives

The overarching strategy for the charity is to continue supporting the projects of Magen David Adom in Israel. It also continues to support the Jewish community and the British Red Cross in a variety of other ways.

c. Activities undertaken to achieve objectives

In practice these objects are met by:

The funding of these activities is raised by appealing for, soliciting, accepting and receiving endowments, legacies, bequests, gifts or donations for any purpose consistent with the objectives of the Charity.

The Charity provides and maintains such administrative organisation as is required for the advancement of the objectives

The company is administered by the Chief Executive, supported by the Executive Assistant/Head of Office, Office Administrator, Director of Fundraising, Events Lead, Community Fundraiser, Head of Operations, Data Operations Lead, Data Operations Administrator and volunteers.

d. Volunteers

MDA UK has volunteers that make up local and regional fundraising committees in the UK.

e. Main activities undertaken to further the Charity’s purposes for the public benefit

The Charity undertakes the following key activities in order to further it’s purposes for the public benefit:

5

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

a. Main achievements of the Charity

For the Year Ended December 31st, 2024, MDA UK achieved its financial goals for the year with £8m in income. Building on the momentum of our 2024 emergency appeal, MDA UK continued to raise significant funds throughout the year, supported by a series of successful fundraising events. These funds were donated to MDA Israel to support their humanitarian mission and essential lifesaving work in Israel.

b. Key performance indicators

The main key performance indicators reviewed by the Charity are:

c. Review of activities

We use a traffic light system to review our ongoing activities as follows:

d. Factors relevant to achieve objectives

Thanks to the power of and respect of the MDA brand it has enabled MDA UK to raise a high level of donations to enable the charity to meet its objectives and go beyond by funding capital projects at a time of great need in Israel.

e. Fundraising activities and income generation

In 2024 we held numerous fundraising activities, events and appeals which contributed to high levels of income generation, including:

f. Investment policy and performance

The Charity has a policy of investing it’s surplus funds into short term deposit accounts with it’s principal bank, NatWest. During the year, these investments netted income of £85,456 compared to £17,601 in 2023. This increase is due to stronger treasury management and an increase on the available interest rates.

6

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six months’ expenditure. The Trustees consider that reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

c. Material investments policy

The Charity has adopted a policy of placing its funds on short term deposit with its bankers as it wishes to maintain flexibility to meet urgent requests for financial assistance. Quoted securities when given to the Charity are sold as soon as practicable except where this conflicts with the donor’s wishes.

d. Principal risks and uncertainties

All the below are factors that contribute to the financial risk of the charity:

e. Financial risk management objectives and policies

The following procedures and software packages limit the exposure/risks to fraud on the charity:

7

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

f. Principal Funding

The below are MDA UK’s core/principal means of funding:

g. Review of the Year

During the year ended 31 December 2024, Magen David Adom UK raised a total of £8,041,452, compared to £16,964,884 in 2023. This total reflects a diverse mix of income streams, with legacy income contributing £686,892 (2023: £952,685), continuing to be a vital source of support.

Donations and gifts amounted to £6,769,467 (2023: £15,151,514), excluding income from bank interest, Gifts in Kind (GIK), and Gift Aid. When these additional sources are included, total income excluding legacies reached £7,354,560 (2023: £16,012,199).

Importantly, Person to Person major donor fundraising continues to grow and now represents 23% of income net of legacies, highlighting the increasing impact of direct engagement with our most committed supporters.

During the financial year 2024, Magen David Adom UK (MDA UK) continued its steadfast support for Magen David Adom in Israel (MDA Israel), particularly in response to the humanitarian crisis following the events of 7 October 2023. In the immediate aftermath, MDA UK launched an emergency appeal which was met with an exceptional response from our community. Building on the momentum of this appeal, MDA UK continued to raise significant funds throughout the year, supported by a series of successful fundraising events. These funds were transferred to MDA Israel to directly support its vital humanitarian mission and essential lifesaving operations across the country. MDA UK remains fully committed to ensuring that all funds raised are utilised effectively and transparently in support of MDA Israel’s provision of emergency medical services, disaster response, and national blood services. The trustees express their sincere gratitude to all donors and supporters for their generosity during this critical period.

None of this would be possible without a dedicated board and team of professional staff who work tirelessly to produce these results. Magen David Adom UK’s reach in the UK and further afield continues to grow with loyal committees from Gibraltar to Manchester and Hull, Glasgow to Cambridge.

h. Financial Review

The accounts for the year are set out on pages 16 to 39. The company continues its valuable contribution to Magen David Adom in Israel and other similar humanitarian causes where funds are donated for that purpose.

It is the policy of the company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six months’ expenditure. The directors consider that reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The company has adopted a policy of placing its funds on short-term deposit with its bankers as it wishes to maintain flexibility to meet urgent requests for financial assistance. Quoted securities when given to the company are sold as soon as practicable except where this conflicts with the donor’s wishes.

Cash at the bank and in hand on 31 December 2024 was £6,042,560 (2023: £6,294,608)

There has been an increasing trend for donors and legators, to some extent, to fund restricted items including vehicles. As with capital projects, the items are paid for once they are in Israel and payment requested against invoice. In the case of ambulances, on some occasions the lead time can be a few months which further inflates Magen David Adom UK’s bank position.

8

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

Magen David Adom UK is a charitable company limited by guarantee, Charity Registration number 1113409 and Company number 07518138.

b. Methods of appointment or election of Trustees

The key process for appointment of new Trustees is as follows:

c. Organisational structure and decision-making policies

The key processes involved in decision making are:

d. Policies adopted for the induction and training of Trustees

New Trustees are provided with a Charity Commission publication on the Trustees’ duties and are given guidance on the Charity’s articles of association, the board and decision-making processes of the Charity and recent financial performance.

e. Pay policy for key management personnel

Pay for key management personel is goverened by a remuneration policy, which is benchmarked on an annual basis. The Governance, Remuneration and Nomination committee will discuss and approve pay increases on an annual basis.

f. Related party relationships

We work in cooperation with the following organisations:

g. Risk Management

We maintain a risk register at all times which is regularly reviewed by both senior management and the Trustees. Any new risks identified by either staff or Trustees will be passed through the finance & audit committee to be considered and mitigated

9

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

h. Trustees’ Indemnities

MDA UK has adequate liability cover levels via Towergate Insurance for our trustees up to £5,000,000.

i. Committees of the Board

There are two statutory Committees of the Board – Finance and Audit Committee & the Governance, Remuneration and Nominations Committee. Both Committees report directly to the Chair of the Board and have delegated authorities and responsibilities.

The Finance and Audit Committee is responsible for financial reporting, audit, risk and internal control.

The Governance, Remuneration and Nominations Committee is responsible for governance policy development, recruitment & selection, board development and training, nominations and remuneration.

j. Members of the Committees

Finance and Audit Committee:

M. Franks (Chair)

D. Burger R. Greenfield R. Jacobs

M. Mever E. Ziff OBE DL Hon

Israel Property Committee:

E. Ziff DL Hon DBA (Chair)

D. Burger

J. Diamond R. Greenfield A. Jacobson

A. Samsonoff

Governance, Remuneration and Nominations Committee:

D. Bernstein CBE (Chair) D. Burger D. Curtis

British Red Cross Liaison Committee:

R. Jacobs (Chair)

D. Bernstein CBE D. Burger

R. Ellison

M. Smith

R. Ellison

R. Jacobs

R. Ordever

Executive Committee:

D. Burger (Chair)

D. Bernstein CBE

D. Curtis

M. Franks

R. Jacobs

R. Ordever

PLANS FOR FUTURE PERIODS

The Charity intends to continue and enhance its charitable efforts in accordance with its objectives as expressed in the articles of association.

10

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also the directors of the Charity for the purposes 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. Under company law, the Trustees must not approve 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are 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 prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

AUDITORS

For the financial year ending 31 December 2025, the Trustees have made the decision to put the audit out to tender. After conclusion of the process a decision and appointment will be made.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

Marc Franks (Trustee) Date: 09/09/2025

11

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MAGEN DAVID ADOM UK

OPINION

We have audited the financial statements of Magen David Adom UK (the ‘charitable company’) for the year ended 31 December 2024 which comprise the Statement of financial activities, the Income and expenditure account, the Balance sheet, the Statement of cash flows and the related notes, including a summary of 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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’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 charitable company’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.

12

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MAGEN DAVID ADOM UK (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ 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, except to the extent otherwise explicitly stated in our report, 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes 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 charitable company’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.

13

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MAGEN DAVID ADOM UK (CONTINUED)

AUDITORS’ 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 Auditors’ 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 error 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. 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 procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

14

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MAGEN DAVID ADOM UK (CONTINUED)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report.

USE OF OUR REPORT

This report is made solely to the charitable company’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 charitable company’s Trustees those matters we are required to state to them in an Auditors’ 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

BKL Audit LLP

BKL Audit LLP

Chartered Accountants Statutory Auditor

35 Ballards Lane London

N3 1XW

Date: 09/09/2025

BKL Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

15

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

INCOME FROM:
Donations
and legacies
Investments
Total income
EXPENDITURE ON:
Raising funds
Charitable activities
Total expenditure
NET INCOME/
(EXPENDITURE)
Transfers between funds
NET MOVEMENT
IN FUNDS
RECONCILIATION
OF FUNDS:
Total funds
brought forward
Net movement in funds
Total funds
carried forward		 Unrestricted
funds
2024
Restricted
funds
2024
Total
Funds
2024
Total
Funds
2023
Note
£
£
£
£
3
5,444,421
2,511,575
7,955,996
16,947,283
4
85,456
-
85,456
17,601
5,529,877
2,511,575
8,041,452
16,964,884
5
1,252,341
-
1,252,341
1,314,488
6
2,820,606
3,272,225
6,092,831
12,932,754
4,072,947
3,272,225
7,345,172
14,247,242
1,456,930
(760,650)
696,280
2,717,642
14
(885,892)
885,892
-
-
571,038
125,242
696,280
2,717,642
4,294,113
397,981
4,692,094
1,974,452
571,038
125,242
696,280
2,717,642
4,865,151
523,223
5,388,374
4,692,094

The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 20 to 39 form part of these financial statements.

16

BALANCE SHEET AS AT 31 DECEMBER 2024

2024 2023
Note £ £
FIXED ASSETS
Tangible assets 11 5,700 9,417
5,700 9,417
CURRENT ASSETS
Debtors 12 1,780,048 2,190,334
Cash at bank and in hand 6,042,560 6,294,608
7,822,608 8,484,942
Creditors: amounts falling due within one year 13 (2,439,934) (3,802,265)
NET CURRENT ASSETS 5,382,674 4,682,677
TOTAL NET ASSETS 5,388,374 4,692,094
~~ee~~ ~~ee~~
CHARITY FUNDS
Restricted funds 14 523,223 397,981
Unrestricted funds
Designated funds 14 4,590,294 2,480,593 2,480,593
General funds 14 274,857 1,813,520
Total unrestricted funds 14 4,865,151 4,294,113
Total funds 5,388,374
~~ee~~		 4,692,094
~~ee~~

Registered Charity Number: 1113409 | Company registered number: 05718138 | MAGEN DAVID ADOM UK (A company limited by guarantee)

17

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Marc Franks

(Trustee)

Date: 09/09/2025

The notes on pages 20 to 39 form part of these financial statements.

Registered Charity Number: 1113409 | Company registered number: 05718138 | MAGEN DAVID ADOM UK (A company limited by guarantee)

18

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities (324,446) 4,401,151
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments 85,456 17,601
Loss on disposal of tangible fixed assets 3,964 -
Purchase of tangible fixed assets (17,022) (1,907)
Net cash provided by/(used in) investing activities 72,398 15,694
Change in cash and cash equivalents in the year (252,048) 4,416,845
Cash and cash equivalents at the beginning of the year 6,294,608 1,877,763
Cash and cash equivalents at the end of the year 6,042,560 6,294,608

The notes on pages 20 to 39 form part of these financial statements

19

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

Magen David Adom (UK) is a Charitable Company established on 22nd February 2006 by memorandum and articles of incorporation subsequently ammended on 20th May 2010.

2. ACCOUNTING POLICIES

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Magen David Adom UK meets the definition 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.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 Expenditure

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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT.

20

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable

and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

21

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.

22

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Donated goods
Gif aid
Donations
Legacies
Donated goods
Gif aid		 Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
£
£
£
4,332,483
2,437,164
6,769,647
620,063
66,829
686,892
-
7,582
7,582
491,875
-
491,875
5,444,421
2,511,575
7,955,996
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
£
£
£
9,389,855
5,761,659
15,151,514
952,685
-
952,685
-
62,640
62,640
780,444
-
780,444
11,122,984
5,824,299
16,947,283

4. INVESTMENT INCOME

4. INVESTMENT INCOME
Unrestricted Total
funds funds
2024 2024
£ £
Bank Interest 85,456 85,456
Unrestricted Total
funds funds
2023 2023
£ £
Bank Interest 17,601 17,601

Interest accrued will be reinvested into medical expenditures in support of MDA Israel's mission.

23

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. EXPENDITURE ON RAISING FUNDS

Costs of raising voluntary income

Unrestricted Total
funds funds
2024 2024
£ £
Direct expenses on funds raised 872,685 872,685
Costs of raising voluntary income - wages and salaries 323,855 323,855
Costs of raising voluntary income - National Insurance 36,674 36,674
Costs of raising voluntary income - pension costs 19,127 19,127
1,252,341 1,252,341
Unrestricted Total
funds funds
2023 2023
£ £
Direct expenses on funds raised 995,989 995,989
Costs of raising voluntary income - wages and salaries 271,958 271,958
Costs of raising voluntary income - National Insurance 30,588 30,588
Costs of raising voluntary income - pension costs 15,953 15,953
1,314,488 1,314,488

24

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Assistance to MDA Israel
Other Medical Related Activities
Assistance to MDA Israel
Other Medical Related Activities		 Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
£
£
£
2,820,606
3,264,643
6,085,249
-
7,582
7,582
2,820,606
3,272,225
6,092,831
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
£
£
£
5,785,978
6,998,783
12,784,761
75,353
72,640
147,993
5,861,331
7,071,423
12,932,754

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Assistance to MDA Israel
Other Medical Related Activities		 Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
£
£
£
5,640,229
445,020
6,085,249
7,582
-
7,582
5,647,811
445,020
6,092,831

25

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Assistance to MDA Israel
Other Medical Related Activities		 Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
£
£
£
12,209,536
575,225
12,784,761
147,993
-
147,993
12,357,529
575,225
12,932,754
Analysis of direct costs
Staf costs
Medical equipment
Casualty stations refurbishment costs
Ambulances and other emergency vehicles associated
costs
Gifs in kind (donated goods)
MDA Technology
Miscellaneous project costs
MDA Israel training		 Assistance
to MDA
Israel
2024
Other
Medical
Related
Activities
2024
Total
funds
2024
£
£
£
86,642
-
86,642
1,087,676
-
1,087,676
715,113
-
715,113
3,090,373
-
3,090,373
-
7,582
7,582
210,580
-
210,580
189,535
-
189,535
260,310
-
260,310
5,640,229
7,582
5,647,811

26

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of direct costs (continued)
Staf costs
Medical equipment
Casualty stations refurbishment costs
Ambulances and other emergency vehicles associated
costs
International & IFRC
Gifs in kind (donated goods)
Associated costs of Gifs in kind (donated goods)
MDA Technology
Miscellaneous project costs
Command and Control
MDA Israel training
Analysis of support costs
Staf costs
Depreciation
Premises costs
Legal and professional fees
Ofce expenses
Audit and Accountancy Fees
Other administrative costs
(Gains) / Losses on Forex		 Assistance
to MDA
Israel
2023
£
68,289
2,975,112
549,682
5,356,428
5,820
-
-
170,984
313,628
2,686,450
83,143		 Other Medical
Related
Activities
2023
Total
funds
2023
£
£
-
68,289
-
2,975,112
-
549,682
-
5,356,428
55,353
61,173
62,640
62,640
30,000
30,000
-
170,984
-
313,628
-
2,686,450
-
83,143
12,209,536 147,993
12,357,529
Assistance
to MDA
Israel
2024
Total
funds
2024
£
£
175,939
175,939
16,775
16,775
40,103
40,103
26,238
26,238
68,355
68,355
11,400
11,400
133,690
133,690
(27,480)
(27,480)
445,020
445,020

27

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of support costs (continued)

Staf costs
Depreciation
Premises costs
Legal and professional fees
Ofce expenses
Audit and Accountancy Fees
Other administrative costs
(Gains) / Losses on Forex		 Assistance
to MDA
Israel
2023
Total
funds
2023
£
£
186,660
186,660
8,818
8,818
42,963
42,963
39,198
39,198
51,808
51,808
20,280
20,280
67,026
67,026
158,472
158,472
575,225
575,225

8. AUDITORS’ REMUNERATION

9. STAFF COSTS
Fees payable to the Charity’s auditor for the audit of
the Charity’s annual accounts (2023: the auditor also
prepared the accounts)
Wages and salaries
National Insurance
Contribution to defned contribution pension schemes		 2024
2023
£
£
7,650
18,000
2024
2023
£
£
479,618
506,915
49,773
44,766
28,309
21,767
557,700
573,448

9. STAFF COSTS

28

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. STAFF COSTS (CONTINUED)

The average number of persons employed by the Charity during the year was as follows:

Management and administration of charity
Directors		 2024
2023
No.
No.
9
7
-
1
9
8

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,000 - £70,000 1
In the band £150,001 - £160,000 - 1
In the band £160,001 - £170,000 1 -

Key management personnel of the charity comprise the Chief Executive & senior leadership team. The total employee remuneration and benefits of the key management personnel of the Charity were £375,991 (2023: £332,619).

10. TRUSTEES’ REMUNERATION AND EXPENSES

During the previous year, one or more Trustees had been paid remuneration or had received other benefits from an employment with the Charity. The value of Trustees’ remuneration and other benefits was as follows:

2024 2023
£ £
D. Burger Remuneration - 161,550
Pension contributions paid - 11,950

D. Burger remains as an employee however resigned as a Trustee on 17th January 2023.

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).

29

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. TANGIBLE FIXED ASSETS

11. TANGIBLE FIXED ASSETS
Long-term
leasehold Fixtures and
property fittings Total
£ £ £
COST OR VALUATION
At 1 January 2024 14,080 48,167 62,247
Additions - 17,022 17,022
Disposals (14,080) (13,331) (27,411)
At 31 December 2024 - 51,858 51,858
DEPRECIATION
At 1 January 2024 11,967 40,863 52,830
Charge for the year 2,113 14,662 16,775
On disposals (14,080) (9,367) (23,447)
At 31 December 2024 - 46,158 46,158
NET BOOK VALUE
At 31 December 2024 - 5,700 5,700
At 31 December 2023 2,113 7,304 9,417

30

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. DEBTORS

12. DEBTORS
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
DUE AFTER MORE THAN ONE YEAR
Trade debtors
DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
Trade creditors
Accruals and deferred income		 2024
2023
£
£
517,100
579,400
517,100
579,400
1,215,376
1,592,714
8,604
7,511
38,968
10,709
1,780,048
2,190,334
YEAR
2024
2023
£
£
365,115
327,510
2,074,819
3,474,755
2,439,934
3,802,265

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. STATEMENT OF FUNDS

Statement of funds - current year

Balance at Balance at
1 January Transfers 31 December
2024 Income Expenditure in/out 2024
£ £ £ £ £
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Medical Equipment 35,844 - - 13,743 49,587
Blood Services 645,672 - - 210,523 856,195
Ambulances 524,783 - - (164,783) 360,000
Stations - - - 2,255,289 2,255,289
Training - - - 247,934 247,934
First Responder Vehicles 1,274,294 - - (453,005) 821,289
2,480,593 - - 2,109,701 4,590,294

Designated funds are ringfenced against committed projects which will be undertaken within the coming year please refer to note 2.11 Fund accounting.

GENERAL FUNDS

General Funds - all funds 1,813,520 5,529,877 (4,072,947) (2,995,593) 274,857
TOTAL UNRESTRICTED
FUNDS		 4,294,113 5,529,877 (4,072,947) (885,892) 4,865,151

32

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. STATEMENT OF FUNDS (CONTINUED)

Statement of funds - current year (continued)

RESTRICTED FUNDS
Ambulance stations refurbishment costs
National blood and logistic centre
Ambulances
Bikes
Bloodmobiles
Medical equipment
Holocaust survivors’ fund
Training
Gif in kind & associated costs
Awaiting project
Total of funds		 Balance at
1 January
2024
Income
Expenditure
Transfers
in/out
Balance at
31 December
2024
£
£
£
£
£
-
441,113
(272,081)
-
169,032
165,654
15,000
(101,944)
-
78,710
-
1,683,460
(2,541,013)
857,553
-
37,937
115,783
(78,311)
-
75,409
33,390
78,854
(140,583)
28,339
-
93,688
65,986
(48,211)
-
111,463
25,000
-
-
-
25,000
-
82,500
(82,500)
-
-
-
7,582
(7,582)
-
-
42,312
21,297
-
-
63,609
397,981
2,511,575
(3,272,225)
885,892
523,223
4,692,094
8,041,452
(7,345,172)
-
5,388,374

Expenditure includes obligations to pay for items on order as further described in the accounting policy reference note 2.8.

33

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. STATEMENT OF FUNDS (CONTINUED)

Designated funds comprise:

Ambulances

Monies designated for use on the purchase of Ambulances.

Blood Services

Monies designated for the purchase of blood services at MDA.

Stations

Monies designated to support capital projects building new ambulance stations in Israel and

refurbishing existing stations.

Training

Monies designated to support medic and paramedic training costs.

First Responder Vehicles

Monies designated for the purchase of First Responder vehicles.

Medical Equipment

Monies designated for the purchase of medical equipment for MDA.

Restricted funds comprise:

Ambulances

The income from this fund supports the purchasing of ambulances for MDA Israel.

Ambulance Stations

The income from this fund supports capital projects building new ambulance stations in Israel and

refurbishing existing stations.

Awaiting Project

This fund contains monies given to the Charity where the donor is yet to decide on which project they wish to support.

Bikes

The income from this fund supports the purchasing of first responder motorcycles for MDA Israel.

Bloodmobiles

This fund supports the purchasing of bloodmobiles that collect blood for the blood services.

Gifts in Kind & Associated costs

MDA UK works in partnership with International Health Partners, an organisation which specialises in securing medicines from pharmaceutical companies, free of charge, for the benefit of overseas charities and the World Health Organisation, to provide much needed medicines in those countries the WHO deems urgent. The only cost to MDA UK is a contribution towards the shipment of the medicines and medical supplies to the destination countries.

34

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. STATEMENT OF FUNDS (CONTINUED)

Holocaust Survivors’ Fund

This fund supports Holocaust Survivors living in Israel and their associated costs of transport to hospital for treatment.

International

This fund supports overseas humanitarian work for MDA Israel as part of its commitment to the IFRC.

Medical Equipment

This fund supports the purchase of medical equipment for MDA.

National Blood and Logistics Centre

This fund supported the construction of Israel’s Marcus National Blood Service Centre.

Training

This fund’s purpose is to support medic and paramedic training costs.

Statement of funds - prior year

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Medical Equipment
Blood Services
Ambulances
First Responder Vehicles
GENERAL FUNDS
General Funds - all funds
TOTAL UNRESTRICTED
FUNDS		 Balance at
1 January
2024
Income
Expenditure
Transfers
in/out
Balance at
31 December
2024
£
£
£
£
£
-
-
-
35,844
35,844
-
-
-
645,672
645,672
-
-
-
524,783
524,783
-
-
-
1,274,294
1,274,294
-
-
-
2,480,593
2,480,593
1,213,646
11,140,585
(7,175,819)
(3,364,892)
1,813,520
1,213,646
11,140,585
(7,175,819)
(884,299)
4,294,113

35

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of funds - prior year (continued)

Balance at Balance at
1 January Transfers 31 December
2024 Income Expenditure in/out 2024
£ £ £ £ £
RESTRICTED FUNDS
Ambulance stations
refurbishment costs		 89,948 137,818 (644,870) 417,104 -
National blood and
logistic centre		 165,654 173,159 (173,159) - 165,654
Ambulances 283,259 5,023,816 (5,774,270) 467,195 -
Bikes 18,165 54,767 (34,995) - 37,937
Bloodmobiles 27,972 155,418 (150,000) - 33,390
Medical equipment 103,708 193,469 (203,489) - 93,688
Holocaust survivors’ fund 25,000 - - - 25,000
Training 18,000 - (18,000) - -
Gift in kind & associated
costs		 - 62,640 (62,640) - -
International 10,000 - (10,000) - -
Awaiting project 19,100 23,212 - - 42,312
760,806 5,824,299 (7,071,423) 884,299 397,981
Total of funds 1,974,452 16,964,884 (14,247,242) - 4,692,094

36

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. SUMMARY OF FUNDS

Summary of funds - current year

Balance at Balance at
1 January 31 December
2024 Income Expenditure Transfers in/out 2023
£ £ £ £ £
Designated funds 2,480,593 - - 2,109,701 4,590,294
General funds 1,813,520 5,529,877 (4,072,947) (2,995,593) 274,857
Restricted funds 397,981 2,511,575 (3,272,225) 885,892 523,223
4,692,094 8,041,452 (7,345,172) - 5,388,374

Summary of funds - prior year

Balance at Balance at
1 January 31 December
2024 Income Expenditure Transfers in/out 2023
£ £ £ £ £
Designated funds - - - 2,480,593 2,480,593
General funds 1,213,646 11,140,585 (7,175,819) (3,364,892) 1,813,520
Restricted funds 760,806 5,824,299 (7,071,423) 884,299 397,981
1,974,452 16,964,884 (14,247,242) - 4,692,094

37

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Analysis of net assets between funds - current year

Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Tangible fixed assets 5,700 - 5,700
Debtors due after more than one year 517,100 - 517,100
Current assets 6,782,285 523,223 7,305,508
Creditors due within one year (2,439,934) - (2,439,934)
Total 4,865,151 523,223 5,388,374

Analysis of net assets between funds - prior year

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Tangible fixed assets 9,417 - 9,417
Debtors due after more than one year 579,400 - 579,400
Current assets 7,507,561 397,981 7,905,542
Creditors due within one year (3,802,265) - (3,802,265)
Total 4,294,113 397,981 4,692,094

38

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO
OPERATING ACTIVITIES		 17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO
OPERATING ACTIVITIES		 NET CASH FLOW FROM
Net income/expenditure for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by/(used in) operating activities		 2024
2023
£
£
696,280
2,717,642
16,775
8,818
(85,456)
(17,601)
410,286
(430,561)
(1,362,331)
2,122,853
(324,446)
4,401,151

18. ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash in hand
Total cash and cash equivalents		 2024
2023
£
£
6,042,560
6,294,608
6,042,560
6,294,608

19. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand At
1 January
2024
Cash fows
At
31 December
2024
£
£
£
6,294,608
(252,048)
6,042,560
6,294,608
(252,048)
6,042,560

39

Winston House, 2 Dollis Park, London N3 1HF T +44 (0)20 8201 5900 info@mdauk.org www.mdauk.org

Registered Charity No. 1113409