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2020-12-31-accounts

Registered number: 09563066 Charity number: 1164377

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 5
Independent auditors' report on the financial statements 6 - 9
Consolidated statement of financial activities 10
Consolidated balance sheet 11 - 12
Company balance sheet 13
Consolidated statement of cash flows 14
Notes to the financial statements 15 - 30

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees Mr J Baumgarten
Mr H Konig (resigned 31 December 2020)
Mr M Lobenstein
Mr J Schonberg
Mr M Just (appointed 24 December 2020)
Company registered
number
09563066
Charity registered
number
1164377
Registered office
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
Principal operating
office
140 Stamford Hill
London
N16 6QT
Independent auditors
Landau Morley LLP
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX

Page 1

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the audited financial statements of the Company for the year ended 31 December 2020. 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 2015) as amended by Update Bulletin 1 (effective January 2016).

Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group 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 objects of the charity, as detailed in the Memorandum and Articles of Association, are to advance the orthodox Jewish faith in Great Britain, to establish and support such institutions as will support this object and to advance such other purposes as are recognised as charitable, as the trustees shall determine.

The trustees propose that the charity will achieve these objectives through the promotion of the Jewish religion, the provision of facilities to enable Jewish members of the public to practice the Jewish religion and to enable them to observe the Orthodox Jewish religious dietary laws relating to kosher food.

Public benefit

The trustees confirm that they have complied with the duty in section 2 (1) (b) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.

All of the activities that are undertaken by the charity are for the advancement of its charitable purposes and are outlined above.

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. Grant-making policies

Grants are made to charitable institutions and organisations which accord with the objectives of the charity.

c. Volunteers

The majority of the group's work is undertaken by paid employees. Occasional voluntary assistance is provided by the trustees.

Page 2

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

a. Main achievements of the Company

During the year the charity continued to support community projects. During the year, the charity paid grants totalling £57,922 (2019: £nil)

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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

The trustees aim to build up reserves within the charity to enable it to achieve its objectives.

At 31st December 2020, the charity's unrestricted reserves amounted to £349,651 (2019: £Nil). The group had free reserves of £8,225.

c. Material investments policy

The trustees' investment policies are governed by the company’s Memorandum and Articles of Association, which permits the trustees to invest in such assets as they see fit.

d. Principal risks and uncertainties

The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be made so that necessary steps can be taken to lessen these risks.

Risks are classified under headings such as financial, premises, staffing and reputation.

Risk assessments are carried out in order to ascertain the likelihood of a risk event occurring, of its potential impact, and whether any cost-effective mitigating action may be taken.

The major risks relating to these assessments have been identified by the trustees relying on professional advice where appropriate and they are reviewed on a regular basis. The organisation has adequate systems in place accompanied by proper insurance cover which are considered adequate to mitigate major risks.

e. Financial performance

The results for the year show that there was net income for the year of £324,462 (2019: net expenditure of £13,678). Total income for the year was £9,530,618 (2019: £8,919,922).

The trading subsidiaries achieved a net loss for the year ended 31st December 2020 of £25,860 (2019: £13,678).

Page 3

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management

a. Constitution

UOHC Foundation Limited is a company limited by guarantee, incorporated on 27th April 2015 and registered as a charity on 12th November 2015. The governing document is the company’s Memorandum and Articles of Association dated 27th April 2015.

Reference and administrative details are shown in the schedule of members of the Board and professional advisers on Page 1 of the financial statements.

b. Organisational structure and decision-making policies

Every member of the Board of Trustees undertakes to contribute an amount not exceeding one pound in the event of winding up the company whilst they are a member of the Board or within one year after their membership ceases.

The day to day running of the office is the responsibility of the trustees as well as the provision of professional input into the charity's activities and strategic development.

The trustees meet regularly to review the finances of the Trust and to approve donations.

Professional advice and assistance is sought when deemed necessary.

c. Policies adopted for the induction and training of Trustees

New trustees are invited at the suggestion of existing trustees, and are inducted and trained so that they fully understand the aims, objectives and the workings of the charity. New trustees are briefed on their legal obligations under charity law, the committee and decision making processes, the objectives and the financial performance of the charity.

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Plans for future periods

The charity plans to continue its activities as outlined above in forthcoming years subject to satisfactory funding arrangements. The trustees continue to monitor the service effectiveness and efficiency of the charity, with a view to ensuring that the charity continues to meet its key objectives.

Page 4

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company 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 Group and the Company and of their incoming resources and application of resources, including their 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 Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company 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 Group and the Company 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:

Small copmpainies provision

This report has been prepared in accordance with the special provisions for smal companies under Part 15 of the Companies Act 2006.

Approved by order of the members of the board of Trustees on 27 October 2021 and signed on their behalf by:

Mr J Baumgarten

Trustee

Page 5

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UOHC FOUNDATION LIMITED

Opinion

We have audited the financial statements of UOHC Foundation Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 December 2020 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated 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 Group 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 Group's or the parent 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.

Page 6

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UOHC FOUNDATION LIMITED (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Group's and the parent 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 Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 7

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UOHC FOUNDATION LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 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:

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with management (as required by auditing standards).

• We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

• Except for any known or possible non-compliance, and as required by auditing standards, our work in respect of these included enquiry of management about company's policies, procedures, and related controls regarding compliance with laws and regulations and if there are any known instances of noncompliance.

• We tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

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.

Page 8

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UOHC FOUNDATION LIMITED (CONTINUED)

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.

Landau Morley LLP

325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

29 October 2021

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

Page 9

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
4
Other trading activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net income/(expenditure) before taxation
Taxation
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net income attributable to the parent Company
Net income attributable to non-controlling interests
Total funds carried forward		 Unrestricted
funds
2020
£
395,792
9,122,849
204
11,773
9,530,618
9,140,434
65,469
9,205,903
324,715
(253)
324,462
(18,199)
323,446
305,247
1,016
306,263		 Total
funds
2020
£
395,792
9,122,849
204
11,773
9,530,618
9,140,434
65,469
9,205,903
324,715
(253)
324,462
(18,199)
323,446
305,247
1,016
306,263		 Total
funds
2019
£
-
8,919,173
749
-
8,919,922
8,932,597
-
8,932,597
(12,675)
(1,003)
(13,678)
(4,521)
(17,849)
(22,370)
4,171
(18,199)

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

The notes on pages 15 to 30 form part of these financial statements.

Page 10

UOHC FOUNDATION LIMITED (A company limited by guarantee) REGISTERED NUMBER: 09563066

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020

Note
Fixed assets
Tangible assets
14
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets / liabilites
Total assets less current liabilities
Total net assets
Unrestricted funds
18
Total funds
Non-controlling interests		 1,006,353
571,046
1,577,399
(1,569,174)		 2020
£
298,038
298,038
8,225
306,263
306,263
308,636
308,636
(2,373)
306,263		 1,253,689
25,476
1,279,165
(1,602,449)		 2019
£
305,085
305,085
(323,284)
(18,199)
(18,199)
(14,810)
(14,810)
(3,389)
(18,199)

The Company 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 151 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 on 27 October 2021 and signed on their behalf by:

Page 11

UOHC FOUNDATION LIMITED (A company limited by guarantee) REGISTERED NUMBER: 09563066

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020

Mr J Baumgarten

Trustee

The notes on pages 15 to 30 form part of these financial statements.

Page 12

UOHC FOUNDATION LIMITED (A company limited by guarantee) REGISTERED NUMBER: 09563066

COMPANY BALANCE SHEET AS AT 31 DECEMBER 2020

Note
Fixed assets
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets / liabilites
Total assets less current liabilities
Total net assets		 360,435
4,388
364,823
(15,172)		 2020
£
672
672
349,651
350,323
350,323		 -
-
-
(672)		 2019
£
672
672
(672)
-
-

The Company 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 151 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 on 27 October 2021 and signed on their behalf by:

Mr J Baumgarten

Trustee

The notes on pages 15 to 30 form part of these financial statements.

Page 13

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 15 to 30 form part of these financial statements		 2020
£
556,451
204
(11,085)
(10,881)
35,714
35,714
581,284
(10,238)
571,046		 2019
£
(115,733)
749
(1,311)
(562)
-
-
(116,295)
106,057
(10,238)

Page 14

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. General information

The company is a limited company by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

The registered office of the company is 325-327 Oldfield Lane North, Greenford, UB6 0FX.

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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

UOHC Foundation Limited 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.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Group and its subsidiary undertakingss. The results of the subsidiaries are consolidated on a line by line basis.

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.

2.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

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

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

2.4 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 on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Page 15

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.4 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.6 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Tangible fixed assets and depreciation

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 .

Depreciation is provided on the following basis:

Freehold property - 25% straight line
Long-term leasehold property - over the period of the lease
Plant and machinery - 25% reducing balance
Motor vehicles - 20% straight line
Fixtures and fittings - 25% reducing balance

Page 16

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.9 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.

2.10 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.

2.11 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 Company 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 Consolidated statement of financial activities as a finance cost.

2.12 Financial instruments

The Group 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.

2.13 Pensions

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

Page 17

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.14 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 Group and which have not been designated for other purposes.

Page 18

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

4. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2020 2020 2019
£ £ £
Donations 395,792 395,792 -

5. Income from other trading activities

Unrestricted
funds
2020
£
K Poultry Limited
6,260,583
K Products (London) Limited
2,862,266
9,122,849		 Total
funds
2020
£
6,260,583
2,862,266
9,122,849

Trading activities of the group relate to the trading activities of the charity's subsidiary undertakings outlined in note 24.

Page 19

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. Income from other trading activities (continued)

(continued)

K Poultry Limited
K Products (London) Limited		 Unrestricted
funds
2019
£
6,371,406
2,547,767
8,919,173		 Total
funds
2019
£
6,371,406
2,547,767
8,919,173

6. Investment income

Unrestricted
funds
2020
£
Interest receivable
204
Unrestricted
funds
2019
£
Interest receivable
749
Other incoming resources
Unrestricted
funds
2020
Total
funds
2020
£
£
Coronavirus Job Retention Scheme Grant
11,773
11,773		 Total
funds
2020
£
204
Total
funds
2019
£
749
Total
funds
2019
£
-

7. Other incoming resources

Page 20

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Expenditure on raising funds

Other trading expenses

Unrestricted
funds
2020
£
K Poultry Limited
5,144,201
K Products (London) Ltd
2,859,142
Staff costs
1,137,091
9,140,434		 Total
funds
2020
£
5,144,201
2,859,142
1,137,091
9,140,434

Other trading expenses (continued)

K Poultry Limited
K Products (London) Ltd
Staff costs		 Unrestricted
funds
2019
£
5,301,573
2,572,361
1,058,663
8,932,597		 Total
funds
2019
£
5,301,573
2,572,361
1,058,663
8,932,597

9. Analysis of expenditure by activities

Grant
funding of Support Total Total
activities costs funds funds
2020 2020 2020 2019
£ £ £ £
Charitable expenditure 57,922 7,547 65,469 -

Page 21

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Audit & accountancy fees
Bank charges		 Activity 1
2020
£
7,500
47
7,547		 Total
funds
2020
£
7,500
47
7,547		 Total
funds
2019
£
-
-
-

10. Grants payable

Grants to institutions:
Crisplamb
THE Z.S.V. TRUST		 2020
£
50,000
7,922
57,922		 2019
£
-
-
-

Institutional grants are made to institutions which share the same objectives and ethos as the Charity and contribute to further communal development.

11. Auditors' remuneration

- The auditors' remuneration for the group amounts to an auditor fee of £15,500 (2019 £12,775) , and accountancy services of £29,002 ( 2019 - £21,734 ).

12. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Group
2020
£
1,042,774
76,374
17,943
1,137,091		 Group
2019
£
972,289
71,726
14,648
1,058,663

Page 22

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. Staff costs (continued)

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

Group Group
2020 2019
54 55

No employee received remuneration amounting to more than £60,000 in either year.

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL) .

During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL) .

Page 23

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. Tangible fixed assets

Group and Company

Cost or valuation
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Freehold
property
£
433,001
-
433,001
165,307
7,660
172,967
260,034
267,694		 Leasehold
improveme
nts
£
-
11,085
11,085
-
-
-
11,085
-		 Plant and
machinery
£
561,509
-
561,509
546,364
3,786
550,150
11,359
15,145		 Motor
vehicles
£
18,995
-
18,995
9,486
3,502
12,988
6,007
9,509		 Fixtures
and fittings
£
33,778
-
33,778
21,041
3,184
24,225
9,553
12,737		 Total
£
1,047,283
11,085
1,058,368
742,198
18,132
760,330
298,038
305,085

Page 24

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. Fixed asset investments

Company
Cost or valuation
At 1 January 2020
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Investments
in
subsidiary
companies
£
672
672
672
672

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2020
£
747,209
-
111,653
147,491
1,006,353		 Group
2019
£
898,211
-
158,125
197,353
1,253,689		 Company
2020
£
-
360,435
-
-
360,435		 Company
2019
£
-
-
-
-
-

Page 25

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

17. Creditors: Amounts falling due within one year

Bank overdrafts
Trade creditors
Corporation tax
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2020
£
-
243,744
255
12,012
1,112,930
200,233
1,569,174		 Group
2019
£
35,714
456,691
1,006
10,835
821,427
276,776
1,602,449		 Company
2020
£
-
-
-
-
672
14,500
15,172		 Company
2019
£
-
-
-
-
672
-
672

Page 26

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January December
2020 Income Expenditure Taxation 2020
£ £ £ £ £
Unrestricted funds
General Funds (21,921) 7,443,757 (7,118,048) (231) 303,557
Non controlling interest 3,722 2,086,861 (2,087,855) (22) 2,706
(18,199) 9,530,618 (9,205,903) (253) 306,263
Statement of funds - prior year
Balance at
Balance at 31
1 January December
2019 Income Expenditure Taxation 2019
£ £ £ £ £
Unrestricted funds
General Funds (12,414) 6,795,870 (6,804,520) (857) (21,921)
Non controlling interest 7,893 2,124,052 (2,128,077) (146) 3,722
(4,521) 8,919,922 (8,932,597) (1,003) (18,199)

Page 27

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2020
£
Tangible fixed assets
298,038
Current assets
1,577,399
Creditors due within one year
(1,569,174)
Total
306,263
Analysis of net assets between funds - prior period
Unrestricted
funds
2019
£
Tangible fixed assets
305,085
Current assets
1,279,165
Creditors due within one year
(1,602,449)
Total
(18,199)		 Total
funds
2020
£
298,038
1,577,399
(1,569,174)
306,263
Total
funds
2019
£
305,085
1,279,165
(1,602,449)
(18,199)

Page 28

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase/ (decrease) in creditors
Bank overdraft
Net cash provided by/(used in) operating activities
21.
Analysis of cash and cash equivalents
Cash in hand
Overdraft facility repayable on demand
Total cash and cash equivalents		 Group
2020
£
324,462
18,132
(204)
247,336
(33,275)
-
556,451
Group
2020
£
571,046
-
571,046		 Group
2019
£
(13,678)
20,693
(749)
(7,289)
(78,996)
(35,714)
(115,733)
Group
2019
£
25,476
(35,714)
(10,238)

Page 29

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

22. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand		 At 1
January
2020
£
25,476
(35,714)
(10,238)		 Cash flows
£
545,570
35,714
581,284		 At 31
December
2020
£
571,046
-
571,046

23. Related party transactions

During the year, the charity received donations of £95,972 (2019: £Nil) from UOHC Foundation, a charity with common trustees.

During the year, the charity received donations of £300,000 (2019: £Nil) from The Union of Orthodox Hebrew Congregations Limited, a charitable company with common trustees.

24. Principal subsidiaries

The following were subsidiary undertakings of the Company:

Names Company Holding
number
K Poultry Limited 02931455 67%
K Products (London) Limited 07896608 100%
Kedassia Limited 03059745 100%

The financial results of the subsidiaries for the year were:

Names Income Expenditure Profit/(Loss) Net assets
£ £ / Surplus/ £
(Deficit) for
the year
£
K Poultry Limited 6,260,588 (6,273,632) (13,049) (1,882)
K Products (London) Limited 2,998,190 (3,011,001) (12,811) (25,429)
Kedassia Limited - - - (16,074)

Page 30