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2023-12-31-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 2023

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
Company balance sheet 12
Consolidated statement of cash flows 13
Notes to the financial statements 14 - 28

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees Mr J Baumgarten Mr M Lobenstein Mr J Schonberg Mr M Just

Company registered number 09563066 Charity registered number 1164377 Registered office 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX Principal operating 140 Stamford Hill office 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 2023

The Trustees present their annual report together with the audited financial statements of the Company for the year ended 31 December 2023. 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 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.

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 2023

Achievements and performance

a. Main achievements of the Company

During the year the charity continued to support community projects and paid grants totaling £39,090 (2022: £172,250). The group paid grants totaling £454,095 (2022: £477,279).

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 2023, the charity's unrestricted reserves amounted to £1,590,029 (2022: £1,558,288).

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 £41,753 (2022: £33,947). Total income for the year was £11,502,075 (2022: £10,434,064).

Page 3

UOHC FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trading subsidiaries achieved a net p r o f i t for the year ended 31st December 2023 of £26,154 (2022: £154,803).

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 2023

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 companies provision

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

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

Mr J Schonberg Trustee

Date: 28 October 2024

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 2023 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

UOHC FOUNDATION LIMITED (A company limited by guarantee)

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

Date: 28 October 2024

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 2023

Note
Income from:
Donations and legacies
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
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
Increase in controlling interest in subsidiary
Total funds carried forward		 Unrestricted
funds
2023
£

64,666
11,436,282
1,127
11,502,075
10,996,254
464,068
3,503,705
11,460,322
41,753
-
41,753
3,461,952
41,753		 Total
funds
2023
£

64,666
11,436,282
1,127
11,502,075
10,996,254
464,068
3,503,705
11,460,322
41,753
-
41,753
3,461,952
41,753
-		 Total
funds
2022
£
60,000
10,374,064
-
10,434,064
9,914,233
485,884
3,461,952
10,400,117
33,947
33,947

3,447,127
33,947
(19,122)

The Consolidated statement of financial activities includes all gains and losses recognised in the year. The notes on pages 15 to 29 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 2023

Fixed assets
Note
Tangible assets
14
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets / liabilities
Total assets less current liabilities
Total net assets
Unrestricted funds
18
Total funds		 1,213,607
39,359		 2023
£
6,056,408
6,056,408
1,234,674
43,516
1,278,191
(3,890,670)
(2,552,703)
3,503,705
3,503,705
3,503,705
3,503,705		 2022
£
6,074,431
6,074,431
(2,612,479)
1,252,966
(3,805,669)
3,461,952
3,461,952
3,461,952
3,461,952

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 28 October 2024 and signed on their behalf by:

Mr J Schonberg

Trustee

The notes on pages 14 to 28 form part of these financial statements.

Page 11

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

COMPANY BALANCE SHEET AS AT 31 DECEMBER 2023

Fixed assets
Note
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets / liabilities
Total assets less current liabilities
Total net assets
Unrestricted funds
Total funds		 3,872,052
127
3,872,179
(2,282,150)



2023
£
673
673
3,702,052
1,968
3,704,020
(2,145,732_)_
1,590,029
1,590,702

1,590,702
1,590,702
1,590,702		 2022
£
673
673
1,558,288
1,558,961
1,558,961
1,558,961
1,558,961

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.

and signed on their behalf by:

Mr J Schonberg Trustee

The notes on pages 14 to 28 form part of these financial statements.

Page 12

UOHC FOUNDATION LIMITED (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash (absorbed by)/generated from
operations (745,198) 18,671
Interest paid (30,073) -
Income taxes paid (13) -
Net cash (outflow)/inflow from operating
activities (775.284) 18,671
Investing activities
Interest received 1,127 -
Purchase of minority interests - (19,125)
Net cash generated from/(used in) investing 1,127 (19,125)
-
activities
-
Financing activities
Borrowings loans 770,000
Net cash generated from/(used in)
financing activities 770,000
Net (decrease)/increase in cash and cash
equivalents (4,157) (454)
Cash and cash equivalents at beginning of year 43,516 43,970
Cash and cash equivalents at end of year 39,359 43,516

Page 13

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

The company is a company limited 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 2019), 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 undertakings. 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 14

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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:

Leasehold improvements - over the period of the lease
Plant and machinery - 25% reducing balance
Motor vehicles - 20% straight line
Fixtures and fittings - 25% reducing balance

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

No depreciation has been provided on freehold land and buildings as their useful lives and estimated residential values are such that depreciation is not material. Assets are reviewed annually for any impairment.

Page 15

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

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.

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 16

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Judgements and key sources of estimation uncertainty

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

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

Accounts and transactions which include key estimates include depreciation and tangible assets

4. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Donations 64,666 64,666 60,000

5. Income from other trading activities

K Poultry Limited
K Products (London) Limited		 Unrestricted
funds
2023
£
8,094,938
3,341,344
11,436,282		 Total
funds
2023
£
7,188,793
3,185,271
10,374,064

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

Page 17

UOHC FOUNDATION LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Income from other trading activities (continued)

(continued)

K Poultry Limited
K Products (London) Limited		 Unrestricted
Funds
2022
£
7,188,793
3,185,271
10,374,064		 Total
funds
2022
£
7,188,793
3,185,271
10,374,064

6. Investment income

Interest receivable
Interest receivable		 Unrestricted
funds
2023
£
1,127
Unrestricted
funds
2022
£
-		 Total
funds
2023
£
1,127
Total
funds
2022
£
-

Page 18

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. Expenditure on raising funds

Other trading expenses

K Poultry Limited
K Products (London) Ltd
Staff costs		 Unrestricted
Funds
2023
£
6,634,316
3,115,098
1,246,840
10,996,254		 Total
funds
2023
£
6,634,316
3,115,098
1,246,840
10,996,254

Other trading expenses (continued)

K Poultry Limited
K Products (London) Ltd
Staff costs		 Unrestricted
Funds
2022
£
5,747,729
2,922,146
1,244,358
9,914,233		 Total
funds
2022
£
5,747,729
2,922,146
1,244,358
9,914,233

8. Analysis of expenditure by activities

Grant
funding of Support Total Total
activities costs funds funds
2023 2023
 2023 2022
£ £ £ £
Charitable expenditure 454,095 9,973 464,068 485,884

Page 19

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Audit & accountancy fees
Bank charges		 2023
£
9,871
102
9,973		 Total
funds
2023
£
9,871
102
9,973		 Total
funds
2022
£
8,500
105
8,605

Page 20

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

10. Grants payable

Grants to institutions:
Chasdei Aharon Limited
Lehachzikom UK
Rise and Shine
Support the Charity Worker
Trenhill Limited
The Union of Orthodox Hebrew Congregations
UOHC Supervision Limited
United Talmudical Association
Vishnitz Girls School Ltd
Amounts under £10,000		 2023
£
-
-
-
-
-
415,000
20,000
-
-
19,095






454,095		 2022
£
23,600
10,000
20,000
30,000
12,100
194,000
110,000
30,000
20,000
27,579
477,279

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 £ 9,871 (2022 - £8,500) , and in respect of subsidiary undertakings £46,209 ( 2022 - £49,963 ).

12. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Group
2023
£
1,130,765
96,193
19,882
1,246,840		 Group
2022
£
1,121,502
102,818
20,038
1,244,358

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

Group Group
2023 2022
51
49

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

Page 21

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) . During the year, no Trustee expenses were incurred (2022 - £NIL) .

14. Tangible fixed assets

Group

Cost or valuation
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Elimination on
disposal
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Freehold
Leasehold
improvem
ents
property
£
£
6,000,000
35,302
-
-
-
-

6,000,000
35,302
-
9,628

-
-
4,814
-
-
14,442
6,000,000
20,860
6,000,000
25,674
Plant and
machinery
£
561,509
-
-
561,509
555,120
1,597
-
556,717
4,792
6,389		 Motor
Fixtures
vehicles and fittings
£
£
68,408 33,778
-
(10,100)
-
-

58,308
33,778
31,414
28,404
10,268
(10,100)
1,344
-
31,582
29,748
26,725
4,030
36,994
5,374		 Total
£
6,698,997
-
(10,100 )
6,000,000 6,688,897
-

-
-		 624,566
18,023
(10,100)
- 632,489
6,000,000 6,056,408
6,000,000 6,074,431

Land and buildings with a carrying amount of £260,034 (land of £50,000 and buildings of £210,034) were revalued at 31 December 2021 on the basis of market value. The Group has retained the values at their previously revalued amounts.

Page 22

UOHC FOUNDATION LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Fixed asset investments

Company
Cost or valuation
At 1 January 2023
Addition at cost
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Investments
in
subsidiary
companies
£
673
-
673
673
673

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2023
£
921,917
-
164,689
127,001
1,213,607		 Group
2022
£
1,067,559
-
133,298
33,818
1,234,675		 Company
2023
£
-
3,872,052
-
-
3,872.052		 Company
2022
£
-
3,702,052
-
-
3,702,052

Page 23

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Amounts due by group undertakings
Accruals and deferred income		 Group
2023
£
458,730
143,596
3,099,206
-
104,137
3,805,669		 Group
2022
£
529,320
50,908
3,160,246
-
150,196
3,890,670		 Company
2023
£
-
-
1,565,000
699,497
17,653
2,282,150		 Company
2022
£
-
-
2,075,000
54,357
16,375
2,145,732

Page 24

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

18. Statement of funds

Statement of funds - current year

Balance at 1
January
2023
£
Unrestricted funds
General Funds
(2,278,013)
Revaluation reserve5,739,965
3,461,952
Statement of funds - prior year
Balance at
1 January
2022
£
Unrestricted funds
General Funds
(2,292,838)
Revaluation reserve 5,739,965
3,447,127		 Balance at 1
January
2023
£
Unrestricted funds
General Funds
(2,278,013)
Revaluation reserve5,739,965
3,461,952
Statement of funds - prior year
Balance at
1 January
2022
£
Unrestricted funds
General Funds
(2,292,838)
Revaluation reserve 5,739,965
3,447,127		 Balance at 1
January
2023
£
Unrestricted funds
General Funds
(2,278,013)
Revaluation reserve5,739,965
3,461,952
Statement of funds - prior year
Balance at
1 January
2022
£
Unrestricted funds
General Funds
(2,292,838)
Revaluation reserve 5,739,965
3,447,127		 Income
£
Expenditure
£
Gains /
(Losses)
11,502,075 (11,460,322)
-
-
-
-
11,502,075
(11,460,322)
-
Income
£
Expenditure
£
Gains /
(Losses)
10,434,064
(10,400,117)
(19,122)
-
10,434,064
(10,400,117)(19,122)		 Balance at
31
December
2023
£
(2,236,260)
5,739,965
3,503,705
Balance at
31
December
2022
£
(2,278,013)
5,739,965
3,461,952 11,502,075
Income
£
10,434,064
10,434,064
3,447,127 3,461,952

Page 25

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Current assets
Creditors due within one year
Tl		 Unrestricted
funds
2023
£
Total
funds
2023
£
6,056,408
6,056,408
1,252,966
1,252,966
(3,805,669) (3,805,668)
3,503,705
3,503,705
Unrestricted
funds
2022
£
Total
funds
2022
£
6,074,431
6,074,431
1,278,191
1,278,191
(3,890,670) (3,890,670_)
3,461,952
_3,461,952

Total

Page 26

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
Decrease/(increase) in debtors
Increase/ (decrease) in creditors
Net cash provided by/(used in) operating activities		 Group
2023
£
41,753
18,023
719,973)
(85,001)
(745,198)		 Group
2022
£
33,947
22,166
(144,886)
107,444
18,671
21.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 Group
2023
£

39,359
39,359		 Group
2022
£
43,516
43,516

Page 27

(A company limited by guarantee)

UOHC FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

22. Analysis of changes in net debt

Cash at bank and in hand At 1
January
2023
£
43,516
43,516		 Cash flows
£
(4,157)
(4,157)		 At 31
December
2023
£
39,359
39,359

23. Related party transactions

During the year, the group received donations of £37,000 (2022: £Nil) from The Union of Orthodox Hebrew Congregations Limited and paid donations of £415,000 (2022: £194,000) to that charity, 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 100%
K Products (London) Limited 07896608 100%
Kedassia Limited 03059745 100%
KKPL Limited 13419530 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 8,094,938 (8,127,590) (32,652) 5,712,355
K Products (London) Limited 3,301,344 (3,242,538) 58,806 169,449
Kedassia Limited - - - (16,074)
KKPL Limited 1

Page 28