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2023-12-31-accounts

THE UNITED SYNAGOGUE TRUSTEES’

Report and Annual Accounts

FOR THE YEAR ENDED 31 DECEMBER 2023

Chief Rabbi Sir Ephraim Mirvis KBE alongside Prime Minister Rishi Sunak at the United Synagogue-run prayer service held at Finchley United Synagogue following the events of October 7, 2023

CONTENTS

Trustees, Key Executives & Professional Advisors Pages 2 - 3
Trustees’ Annual Report Pages 4 - 14
Statement of Trustees’ Responsibilities Page 15
Independent Auditor’s Report Pages 16 – 19
Summary of Income and Expenditure Page 20
Consolidated Statement of Financial Activities Page 21
Balance Sheets Page 22
Consolidated Cash Flow Statement Pages 23
Notes to the Financial Statements Pages 24 - 40
Details of Synagogues and Schools Pages 41 – 42

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

UNITED SYNAGOGUE TRUSTEES’ REPORT AND ANNUAL ACCOUNTS Year ended 31 December 2023

Charity registration number 242552

BOARD OF TRUSTEES

Appointed Retired
President Michael Goldstein1 10 July 2017
Treasurer Maxwell Nisner1 10 July 2017
Other Trustees Andrew Eder 10 July 2017 17 July 2023
Rachel Hartog2 19 July 2021
Claire Lemer5 14 July 2014
Fleurise Luder1 10 July 2017
Simon Mitchell3 17 July 2023
Tristan Nagler3 17 July 2023
Nicola Rosenfelder4 22 July 2019
Barry Shaw 10 July 2017 17 July 2023
Saul Taylor1 10 July 2017
Jacqui Zinkin4 22 July 2019

1 serving second 4 year term from 19 July 2021

2 serving first 4 year term from 19 July 2021

3 serving first 4 year term from 17 July 2023

4 serving second 4 year term from 17 July 2023

5 co-opted for further 2 years from 17 July 2023

Trustees’ Sub-Committees and Chairs

Engagement Simon Mitchell
Finance and Assets Tristan Nagler and Maxwell Nisner
Governance Rachel Hartog
People Jacqui Zinkin
Religious Infrastructure Nicola Rosenfelder

Other Committees and Chairs

Audit and Risk Review Andrew Mainz
Rabbinical Council Rabbi Pinchas Hackenbroch

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Chief Rabbi of the United Hebrew Congregations Chief Rabbi Sir Ephraim Mirvis of the Commonwealth

Dayanim

Dayan Menachem Gelley (Rosh Beth Din) Dayan Shmuel Simons Dayan Dovid Shlomo Englander Dayan Ivan Binstock (part-time) Dayan Eliezer Zobin (part-time) – appointed 2 May 2023)

Key Executives

Chief Executive Jo Grose (from 1[st] February 2023) Steven Wilson (until 31[st] January 2023) Chief Operating Officer David Collins (from 1[st] February 2023) Chief Financial Officer Richard Taylor Chief Executive, Office of the Chief Rabbi Ari Jesner Director of Centre for Rabbinic Excellence Rabbi Nicky Liss Director of Communications Richard Verber Director of Community life Barnaby Nemko (from 4[th] September 2023) Director External & Legal Services David Frei Director of Fund Raising David Goldberg Director of Human Resources Vickie Lampkin Interim Director of Kashrut Rabbi Eli Schoemann (from 1[st] January 2024) Director of Kashrut Rabbi Jeremy Conway (until 31[st] December 2023) Director of Property Lali Virdee Director of Schools Strategy Tamar Berman

Executive Offices 305 Ballards Lane London N12 8GB Tel: 020 8343 8989

Custodian Trustee

(holds title to the Charity’s property assets) United Synagogue Trusts Ltd 305 Ballards Lane London N12 8GB

Bankers

NatWest Group Corporate Banking London 8[th] Floor 280 Bishopsgate London EC2M 4RB

Investment Fund Manager

J.P. Morgan International Bank Ltd 60 Victoria Embankment London EC4Y 0JP

Charity Solicitors

Womble Bond Dickinson (UK) LLP 4 More London Riverside London SE1 2AU

Statutory Auditor

Crowe U.K. LLP 55 Ludgate Hill, London EC4M 7JW

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Trustees’ Annual Report for the Year Ended 31 December 2023

The details of the Charity, its Trustees, professional service providers and key executives are set out on pages 2 and 3 of this report.

Legal Status

The United Synagogue (‘US’) was established for charitable purposes by the United Synagogue Act of 1870. It was formally registered as a charity on the 2 June 1965 with the charity registration number 242552.

The Schedule to the Act was previously the major constitutional document of the Charity. This was augmented by the Statutes of the United Synagogue passed by the US Council in April 1999, which sets out the Charity’s objects and the role and powers of the Charity, its Trustees and its Council. Additional Byelaws set out the system of governance of local synagogues, and the Election Regulations set out the procedure for electing the Board of Trustees.

Structure, Governance and Management

Charity Governance Code

The current code for charities was published in July 2017. The code lays out seven key areas of governance together with recommended practice for each principle. The US Trustees have always sought to have the highest standards of governance and support this code. They have considered each principle to satisfy themselves that the Charity’s current governance structure explained below satisfactorily addresses each of these principles.

Trustees

Overall responsibility for the activities of the US is held by the Board of Trustees, which is elected by the US Council (see below). The Board of Trustees comprises ten Trustees (with an option to co-opt one more). Trustees are eligible to serve a maximum of two terms although the President can then serve up to two additional terms.

The Trustees who served during 2023 and at the date of this report are shown on page 2.

Trustees must have prior experience of serving on the Synagogue Council (formerly Board of Management) of one of the US’ local synagogue communities for a minimum of two years. Trustees who stand for election will therefore have had experience of lay leadership in the Jewish community for which they are taking responsibility. The requirement to have previously served on a Synagogue Council does not apply to co-opted Trustees.

Induction of Trustees builds on this wide knowledge and familiarity with the Charity, which has been previously gained at a local level.

The Chief Executive and Directors meet new Trustees soon after their election and provide extensive briefings on the Charity. The External and Legal Services Director provides advice and guidance on the statutory responsibilities of Trustees and continues to provide guidance on such matters throughout the Trustees’ term of office.

The Board of Trustees continued to meet once a month, except in August, to take strategic and policy decisions. These meetings are attended by the Chief Executive, and, as appropriate, other members of the senior management team and the Chair of The Rabbinic Council of the United Synagogue.

In March 2024, The Board of Trustees reorganised their subcommittee structure for greater oversight and better working of the charity. The newly formed sub-committees are titled Engagement, Finance & Assets, Governance, People and Religious Infrastructure. These sub-committees are allocated specific

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areas of responsibly and invited to make relevant recommendations to the Board. The Board of Trustees appointed Committee Chairs and advisors to these sub-committees for the better working of the Charity. Following the introduction of these new subcommittees, the Board will now formally meet at least once every quarter.

Responsibility for the religious direction and guidance of the US is vested with the Chief Rabbi and the London Beth Din (his religious court).

US Council

The US Council (‘Council’) represents the member and affiliate synagogues of the US, and has the following powers:

Council is elected every three years by members of the Synagogue Council of every local synagogue. Each synagogue has a number of Council Representatives based on the size of the synagogue’s own membership. All current Trustees are also members of Council, as are the immediate previous set of Trustees. In addition, there are a limited number of life members including all past Presidents. Council meets four times each year.

Professional Staff

The Board of Trustees delegates its powers for the day-to-day running of the Charity to the Chief Executive and the senior management team.

Each department in the US is headed by a Director, all of whom report to either the Chief Executive, the Chief Operating Officer or the Chief Financial Officer.

To achieve its objectives, the US needs to attract and retain high quality senior professional staff. Each Director’s position is remunerated in line with roles with similar responsibilities in the charity sector.

Member Synagogues

The member synagogues are the branches of the US. The day-to-day responsibility for running the member synagogues is delegated by the Trustees to local Honorary Officers, who are elected, either annually or biennially, led by a Synagogue Chair. Synagogue Councils are elected by the members of the synagogues to support the local Honorary Officers. The US Byelaws regulate the powers of the local Honorary Officers and the conduct of local synagogue activities. Synagogue Chairs are issued with a guidance document on how to discharge their duties. Financial Representatives are bound by a Protocols Document, which they are required to sign prior to taking up their roles. Lay leaders are supported in carrying out their duties by United Synagogue staff.

Professional administrators are employed at most synagogues to provide the local lay leadership with administrative support in the effective management of their local communities.

Changes since the last report

As at 31 December 2023 and the date of this report, the US had 56 Full Constituent Member Synagogues (2022: 56) and membership totalled 36,800 (2022: 37,200).

In addition, as at 31 December 2023 there were six Affiliate Synagogues and one Associate Synagogue. They are independent legal entities governed by the Affiliate and Associate Schemes.

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Subsidiary Companies

A list of these is set out in Note 30 of the Notes to the Financial Statements which details their activities, trading performance, assets, liabilities and reserves.

Risk Management, Compliance and Internal Control

The Trustees are responsible for the effective management of risk, including ensuring that internal controls are in place and are operating as designed.

The Covid-19 pandemic prompted Trustees to re-examine whether existing policies and procedures were sufficiently robust. This led to the implementation of:

The US has continued to appraise and develop its risk management systems and procedures throughout the year. The Compliance Officer has undertaken a number of reviews of organisational and departmental processes and procedures. The Charity’s Risk Register is used by the Directors in managing and mitigating risks faced by the Charity. The Risk Register is regularly updated and is discussed regularly at meetings of the Directors and half yearly at Trustee meetings.

The Trustees have identified that the most significant long-term risk that the Charity faces is a reduction in income resulting from a reduction in membership numbers. Such a fall can be triggered by multiple factors, some of which are outside the control of the Charity. Some examples include a severe rise in antisemitism; it becoming more difficult to observe and practise Orthodox Judaism in the UK because of the banning of Brit Milah or Shechita or simply a rise in antisemitism. Many members may decide to emigrate and consequently discontinue their membership. Membership might also fall if mainstream orthodoxy is observed by fewer Jews in the UK. To the extent that this risk can be managed, it is felt by the Trustees that mitigation can be achieved by the implementation of recommendations contained in the previous Strategic Review, including making US communities more vibrant and engaging.

As a result of the ongoing effort to manage all risks that the Charity faces, the Trustees are satisfied that the major risks have been identified and that adequate systems or procedures have been implemented to manage them.

Fundraising

Under the Charities (Protection and Social Investment) Act 2016, the Trustees are required to report on how the Charity conducts its fundraising activities.

Approach

Almost all of the fundraising activities that the Charity engages in are directly with its members and major donors. Funds are raised through the collection of membership contributions, appeals to fund central and local communal activities and appeals for specific central and local projects. Additional appeals are made periodically throughout the year for matters such as security, welfare and to support carefully selected third party charities. The Charity is registered with the Fundraising Regulator.

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Voluntary Scheme for Regulating Fundraising

The appeals referred to above will be made by the professional staff working for the US or by local volunteers. Although they are not bound by any formal voluntary scheme regulating their conduct, these volunteers are supported and guided by the professional staff working for the US. In the absence of any formal voluntary scheme, the Charity has nothing to report on failure to comply with a scheme or monitoring activities carried on by any of the volunteers.

Complaints

The Charity’s Trustees and Professional Staff received no complaints about its fundraising activities this year (2022: none).

Protection of Vulnerable People

Each Member Synagogue requests membership contributions from its members. These are set at what is considered an appropriate level to raise sufficient funds to meet the running costs of that synagogue and meet any other financial obligations it has. In the case of financial hardship, members are encouraged to contact the Financial Representative of their Synagogue to meet, discuss and agree a reduction in the membership subscription requested. Such discussions are carried out sensitively and in confidence, either face to face, or if individuals prefer, in another format. If an individual, for whatever reason, no longer wishes to be a member of the US, then they will receive one further communication from the professional team seeking to identify the reasons they have resigned their membership.

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Vision, Aims and Objectives

The United Synagogue is a charity which serves the British Jewish community in the broadest possible way. The Charity powers Jewish life through its many communities and the critical infrastructure and programmes it provides for the whole British Jewish community including non-United Synagogue members

The Charity was founded in 1870 by an Act of Parliament – the only Jewish charity to be created this way. The United Synagogue has been serving the Jewish community for more than 150 years. With more than 100 Rabbis and Rebbetzens, hundreds of committed staff and thousands of dedicated volunteers, the United Synagogue powers Jewish life through its communities, its kashrut and eruv team, nurseries, marriages, Burial Society, educational materials, Tribe programmes and summer camps, Chesed team, the highly-respected London Beth Din and its support for the Office of the Chief Rabbi.

The United Synagogue’s mission is to engage Jews with mainstream Orthodox Jewish living, learning and caring. The Charity wants to see Jewish growth through more Jews doing more Jewish things more of the time. Its vision is creating a community of inspired Jews, with enriched lives, passing its heritage on to future generations. The United Synagogue’s spiritual head is Chief Rabbi Sir Ephraim Mirvis KBE, the Chief Rabbi of the United Hebrew Congregations of Great Britain and the Commonwealth.

Objectives and Public Benefit

Trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011. The objects of the US are:

The activities currently carried out for the public benefit by the Charity can be broadly categorised into the following activity groups:

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The year in review

2023 will be remembered for some remarkable highs but one of the worst lows our people have faced following the brutal Hamas massacre. Much of our programming, and that of our communities, changed dramatically after October 7. Here we look at some highlights from the past 12 months of activity from across the charity.

January

2023 began with the news that the Chief Rabbi would receive a Knighthood for services to the Jewish community, to interfaith relations and to education.

Barnet, Bushey, Finsbury Park and Northwood United Synagogue all won awards at the Jewish Volunteering Network’s annual ceremony, as did our US-wide Food Parcels Volunteers.

February

Wembley United Synagogue moved in to their purpose-built new shul.

We welcomed our new Chief Executive, Jo Grose, and bid farewell to our outgoing CEO, Dr Steven Wilson.

The Rabbinical Council of the United Synagogue held its first residential conference since before Covid.

The US was represented at Yeshiva University’s prestigious Rabbinic Conference demonstrating the growing relationship.

Our yearly Women’s Shabbat engaged hundreds of women and girls across our community.

We opened a new Holocaust memorial at Bushey New Cemetery with the grave of six victims from Auschwitz-Birkenau at its centre.

The London Beth Din welcomed Dayan Eliezer Zobin as a new Dayan.

March

US Chesed raised more than £500,000 to support our work providing members in need with weekly food parcels and additional packages over Pesach.

The Chief Rabbi authorised an enlarged version of the Authorised Daily Prayer Book (green siddur). Thousands of copies of the new blue siddur have been purchased.

April

We were devastated by the murders in Israel of Lucy, Maya and Rina Dee, the wife and daughters of Rabbi Leo Dee, formally of Hendon and Radlett United Synagogues.

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May

To celebrate the Coronation of His Majesty King Charles III, the United Synagogue Schools Coronation Choir recorded a new adaptation of Adon Olam.

The King invited the Chief Rabbi and Lady Mirvis to spend Shabbat at St James’s Palace to allow him to attend the Coronation where the Chief Rabbi took part in the ceremony. The Office of the Chief Rabbi produced an Order of Service including a new prayer for the Monarch.

June

Some 100 Cheder children attended our first Jewish learning competition with Etgar.

We held a Memorial Lecture in memory of Leonie Lewis MBE z"l, Former Trustee and Director of the United Synagogue who died last year.

We launched 10 Chief Rabbis , a new book exploring the personalities of our Chief Rabbis.

KLBD announced that Rowntree's Vegan Friendly Fruit Gums, Fruit Pastilles and Jelly Tots were now kosher.

We launched Ma’aleh, our advanced Torah programme for women designed by the Chief Rabbi along with our partners LSJS, Matan and Mizrachi.

July

Our Kashrut team, KLBD, won Employer of the Year at Work Avenue’s Business Awards.

EcoJudaism’s Environmental Audits awarded Magen Avot and Northwood United Synagogues Silver awards and Hampstead Garden Suburb United Synagogue a Bronze.

August

Tribe Israel Tour ran successfully once more. Hundreds of young people also enjoyed Tribe summer camps.

Our Dorot sustainability team have helped more than 60% of our communities go plastic-free. 5 US shuls have planted new gardens to absorb carbon dioxide and 15 acres of future burial land has been rewilded.

We launched ‘Chevra’, a new initiative to bring together older non-married Jewish individuals.

September

Finchley United Synagogue launched ‘Shul for the mind’, a meaningful prayer service for people with dementia.

South Hampstead United Synagogue worked with London Zoo to have a kosher succah available for the Jewish community to picnic and pray in over Succot.

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October

We marked 150 years since the first funeral took place at Willesden Jewish Cemetery.

Following the barbaric Hamas attacks we organised an evening of prayer with addresses by the Chief Rabbi and the Prime Minister.

We opened our website to more than 40 Israel charity emergency appeals with thousands of people logging on to donate. We put together 12 ways to help Israel in an email read by more than 19,500 people. Our partnership with UJIA and Leket Israel provided thousands of meals to people in need.

November

700 people came to Edgware and Stanmore & Canons Park United Synagogues’ ‘Solidarity through Song’ concert, as did Sky News. Hundreds more came to a chazanut concert at St John’s Wood United Synagogue to raise funds to support devastated families in the south of Israel.

We sent a small solidarity mission to Israel, led by executive members of our Rabbi and Rebbetzen representative groups. They visited displaced families, those who had been bereaved and family of hostages. We broadcast to hundreds of people live from Jerusalem.

The Chief Rabbi addressed the March Against Antisemitism which was attended by dozens of our rabbinic and lay leaders alongside thousands of community members.

Luton United Synagogue celebrated its 100[th] anniversary.

December

Tribe’s popular doughnuts accompanied dozens of Chanukah activities for our young people.

We launched a campaign to raise awareness about the more than 130 hostages still being held captive in Gaza.

Following a rebrand earlier in the year, the new US website launched.

Rabbis, Rebbetzens and professional staff delivered more than 30 lectures at Limmud Festival.

Rabbi Jeremy Conway stepped down as Director of KLBD after more than 30 years of service.

The Office of the Chief Rabbi – 2023 review

In 2023, the Chief Rabbi was awarded a knighthood by H.M. King Charles III in the King’s New Year’s Honours List to become Sir Ephraim Mirvis KBE. The Chief Rabbi also played a role at the Coronation of the King and Queen.

The Chief Rabbi and his office focussed on the priority areas of community engagement, social responsibility and interfaith.

Through personal visits to communities and campuses, and through the work of his Centre for Community Excellence, the Chief Rabbi provided significant support to communities and student groups across the UK.

The Chief Rabbi continued to prioritise relationships with the Muslim world, opening the Abrahamic Family House in Abu Dhabi, and addressing the Muslim World League forum at the United Nations in

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New York. In the area of Jewish-Christian engagement, as a catalyst for greater understanding and deeper relations, ‘A Jewish-Christian Glossary’ was published, exploring theological terms relating to land and covenant, alongside the Church of Scotland.

The Ben Azzai Programme took a cohort of university students to Rwanda, creating ambassadors for the value of social responsibility within Judaism.

The Office of the Chief Rabbi was a partner in the creation of the Ma’aleh Programme, an advanced learning programme for women of all ages.

The Office of the Chief Rabbi continues to engage with government and other organisations with a range of policy related issues with directly affect the Jewish community, as well as other policy issues of interest to the community which affect society more widely.

Safeguarding

Safeguarding remains a priority for the Charity to ensure that robust steps are taken to safeguard its communities, focusing on both child protection and the protection of vulnerable adults. As such, there is a comprehensive framework in place to ensure that any issues that arise can be dealt with swiftly, adequately and appropriately. Every Member Synagogue has a local Community Safeguarding Coordinator to report any concerns to the Centre’s safeguarding team. Concerns that need to be escalated are referred to the Local Authorities.

The US facilitates accredited training when applicable, and, where necessary, a DBS check for volunteers and staff. US Chesed volunteers who come into contact with vulnerable adults are trained and obtain the necessary DBS checks.

All US staff receive a basic level of training by way of a video produced in-house. Staff working directly with children and/or vulnerable adults receive regular training from Education Child Protection Ltd, a safeguarding provider.

The US regularly reviews its suite of policies in this area to ensure they are clear and transparent.

Fundraising

Collectively, US communities raised more than £1,000,000 from the 2023 Kol Nidrei Appeal – run both digitally as last year and via a postal appeal. Our third online ‘matched giving’ fundraising campaign with Charity Extra for US Chesed appeal once again raised more than £500,000.

Property

These following major capital projects completed early in 2024.

After the beginning of the year, and coinciding with completion of a new Synagogue in Wembley, the site of the old Synagogue in Forty Avenue was sold for £5m, the proceeds of which have, or are expected to, be reinvested in other capital projects over the coming few years.

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Financial Review

Financial Results and Reserves Policy

Total income for the year ended 31 December 2023 amounted to £49.6m (2022: £42.0m). The results for the year show a surplus of £4.5m (2022: £2.0m deficit), which includes donations for capital projects and gains on property disposals. This comprises a surplus on Restricted activities of £4.7m (2022: £1.0m deficit) and a deficit of £0.3m (2022: £0.9m deficit) on Unrestricted activities.

The Trustees believe that the Charity should hold sufficient reserves to ensure that it can continue to operate and meet the needs of members in the event of unforeseen and potentially damaging financial circumstances (such as the Coronavirus pandemic) as well as providing financial support to community capital development projects.

Total reserves at the year-end amounted to £140.4m (2022: £136.0m). This comprised £111.9m of Restricted Funds (2022: £107.2m) and £28.5m (2022: £28.8m) of Unrestricted Funds.

The Restricted Funds are broadly split into two major areas of activity namely member synagogue funds and the Funeral Expenses Scheme (FES). The majority of these Funds are vested in property assets. The Charity had free reserves amounting to £2.8m (2022: £6.8m) and total reserves of £135.0m (2022: £134.1m) of which £24.1m (2022: £28.0m) was unrestricted.

At the year end, the Group had a total cash balance of £9.7m (2022: £7.9m) of which £6.0m (2022: £5.2m) was unrestricted.

Investment Policy

The Investment Committee meets quarterly to review the performance reported by the US’ independent principal fund manager, J. P. Morgan. A number of non-Trustees serve as members of this committee bringing their knowledge and experience to provide advice and guidance on investment matters. The US’ investments are presently restricted to those cash balances and portfolio funds held on behalf of the Funeral Expenses Scheme, and these funds are held within a mixed portfolio comprising bonds, equities, alternative investments and cash.

Stock markets were positive in 2023, a stark contrast to 2022 which was a very challenging year for global investments. This resulted in an unrealised gain on investments of £848k (11.1%) in the year (2022: 9.8% fall). The targeted annual return for the investments managed by J. P. Morgan remains at RPI + 4% pa over the long term (10 years +).

Whilst the US does not have its own specific ethical investment policy in place, J.P. Morgan incorporates environmental, social and governance issues into investment practices across asset classes and has been a signatory to U.N. supported Principles for Responsible Investment (PRI) initiative since 2007.

Auditors

Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor.

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Volunteers

The US, like many charities, relies greatly on the continued efforts of dedicated volunteers and lay leaders across the whole range of its activities. Thanks are due to all volunteers including the Charity's Trustees.

Volunteers play a vital role in both the running of US Synagogues and the provision of activities at each of the US’ communities. The Charity estimates there to be more than 2,000 volunteers.

The US would have great difficulty achieving its objectives without their selfless exertions on behalf of the Charity.

The Trustees would also like to thank the members of the following committees, who assist the Trustee board by providing specialist advice, guidance and oversight across a number of areas.

Chief Executive

Jo Grose became Chief Executive in February 2023 and we were delighted to be able to appoint someone of Jo’s calibre. Significant achievements in her first year include guiding the charity through its response to the tragedy of October 7, including an event with the Chief Rabbi and the Prime Minister two days later, and a solidarity mission to Israel with Rabbinic and lay leaders from the Charity. Jo has also overseen the launch of Ma’aleh, the United Synagogue’s ambitious high-level learning programming for women. She has also overseen a strengthening of the pipeline for Rabbinic recruitments to expand the United Synagogue’s connections with institutions around the world and develop a cadre of young rabbis interested in working in our communities across the UK.

Chief Financial Officer

Our longstanding Chief Financial Officer, Richard Taylor, steps down this month after 11 years in post. Richard is retiring following a successful career in the commercial world and, since 2013, the United Synagogue. He is held in high regard by both current and previous Treasurers and Chief Executives and has brought his extensive professional experience to bear on the Charity. We have benefited from his advice and willingness to challenge Trustees and management.

Although we are sorry he is leaving, Trustees and staff at the Charity wish Richard a happy and healthy retirement and thank him for his significant efforts.

On behalf of the Trustees, I once again want to place on record our thanks to the Chief Rabbi, our Dayanim, Rabbis and Rebbetzens, Chief Executive and Directors, Chairs and Synagogue Councils, together with all our staff and volunteers who support our members with care and dedication.

Michael Goldstein – President

on behalf of the Board of Trustees 25 June 2024

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Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Report and Annual Accounts in accordance with applicable law and regulations.

Charity law requires the Trustees to prepare Financial Statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under charity 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 net incoming/outgoing resources for that period. In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper 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 Charities Act 2011. 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.

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Independent Auditor’s Report to the Trustees of United Synagogue

Opinion

We have audited the Financial Statements of United Synagogue (‘the Charity’) and its subsidiaries (‘the Group’) for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Charity and Group Balance Sheets, the Consolidated Cash Flow Statement and Notes to the Financial Statements, 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 Auditor’s 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 UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the Financial Statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the Financial Statements is appropriate.

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

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

Other information

The Trustees are responsible for the other information contained within the annual report.. The other information comprises the information included in the annual report, other than the Financial Statements and our auditor’s report thereon. 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.

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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 this gives rise to a material misstatement in the Financial Statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement on page 15, the Trustees 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 and the parent Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the Financial Statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

17

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

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 auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the Charity and Group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Charity’s and the Group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Charity and the Group for fraud. The laws and regulations we considered in this context for the UK operations were Charity Commission regulations, General Data Protection Regulation (GDPR), Anti-fraud, bribery and corruption legislation, Health and safety legislation and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, recording the impact of the CQC regulatory review, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit, and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations

18

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

Use of our report

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

Crowe U.K. LLP

Statutory Auditor

London

26 June 2024

Crowe U.K. LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

19

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

SUMMARY OF INCOME AND EXPENDITURE for the year ended 31 December 2023

Operating Income:
Donations and legacies
Inventories
Charitable activities
Grants received
Net gains / (losses) on investments
Other income
Total Operating Income
Expenditure
Net operating deficit
Non-Operating Income:
Donations towards capital projects
Net gain on disposal of tangible fixed assets
Net (deficit) / surplus for the year		 2023
Total funds
£'000
22,225
11,013
565
827
9,810
44,440
(45,939)
(1,499)
1,331
4,627
4,459		 2022
Total funds
£'000
21,529
9,949
459
(768)
8,627
39,796
(43,141)
(3,345)
1,101
291
(1,953)

This summary is provided to allow readers of the Financial Statements to differentiate between recurring operating activities and nonoperating income

20

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2023

Unrestricted
Restricted
Total
funds
funds
2023
Note
£'000
£'000
£'000
Income:
Donations and legacies
2
5,009
17,216
22,225
Donations towards capital projects
Inventorie
-
1,331
1,331
Grants Received
3
14
551
565
Charitable activities
4
4,672
6,341
11,013
Other trading activities
5
6,724
1,551
8,275
Investments
6
175
1,092
1,267
Net gain on disposal of tangible fixed assets
1
4,626
4,627
Other
7
268
-
268
Total Income
16,863
32,708
49,571
Expenditure:
Raising funds
8
(356)
-
(356)
Charitable activities
9
(14,412)
(23,199)
(37,611)
Trading activities
11
(5,132)
(1,910)
(7,042)
Other
12
(757)
(173)
(930)
Total Expenditure
(20,657)
(25,282)
(45,939)
Net (expenditure) / income before (losses) / gains on investments
(3,794)
7,426
3,632
Net (losses) / gains on investments
13
(21)
848
827
Net (expenditure) / income for the year
(3,815)
8,274
4,459
Transfers between funds
14
3,552
(3,552)
-
Net movement in funds
(263)
4,722
4,459
Reconciliation of funds
Total funds brought forward
28,754
107,234
135,988
Total funds carried forward
28,491
111,956
140,447		 Unrestricted
Restricted
Total
funds
funds
2022
£'000
£'000
£'000
4,914
16,615
21,529
-
1,101
1,101
14
445
459
4,120
5,829
9,949
6,229
1,320
7,549
88
852
940
24
267
291
138
-
138
15,527
26,429
41,956
(359)
-
(359)
(14,082)
(21,960)
(36,042)
(4,280)
(1,512)
(5,792)
(782)
(166)
(948)
(19,503)
(23,638)
(43,141)
(3,976)
2,791
(1,185)
43
(811)
(768)
(3,933)
1,980
(1,953)
3,059
(3,059)
-
(874)
(1,079)
(1,953)
29,628
108,313
137,941
28,754
107,234
135,988

Restricted funds carried forward include £68,000 of endowment funds (2022: £68,000 ) (see Note 26). All endowment fund movement during the year is included in the restricted funds column.

All amounts relate to continuing activities.

The notes on pages 24 to 40 form part of these financial statements.

21

Trustees’ Report and Annual Accounts year ended 31 December 2023

UNITED SYNAGOGUE

BALANCE SHEETS as at 31 December 2023

Note
Fixed Assets:
Tangible assets
19
Investments
20
Total Fixed Assets
Current Assets:
Inventories
21
Debtors
22
Cash at Bank and in Hand
23
Total Current Assets
Liabilities:
Creditors: Amounts falling due within one year
24
Net Current Assets
Total Net Assets
The Funds of the Charity
Endowment funds
26
Restricted income funds
27
Unrestricted funds
28
Total Charity Funds		 2023
2022
£'000
£'000
121,452
119,324
8,727
7,868
130,179
127,192
240
276
3,141
6,883
8,464
6,205
11,845
13,364
(7,028)
(6,473)
4,817
6,891
134,996
134,083
-
-
110,919
106,091
24,077
27,992
134,996
134,083
Charity		 2023
2022
£'000
£'000
125,705
123,969
8,727
7,868
134,432
131,837
240
276
2,766
2,519
9,675
7,887
12,681
10,682
(6,666)
(6,531)
6,015
4,151
140,447
135,988
68
68
111,888
107,166
28,491
28,754
140,447
135,988
Group		 2023
2022
£'000
£'000
125,705
123,969
8,727
7,868
134,432
131,837
240
276
2,766
2,519
9,675
7,887
12,681
10,682
(6,666)
(6,531)
6,015
4,151
140,447
135,988
68
68
111,888
107,166
28,491
28,754
140,447
135,988
Group
131,837
276
2,519
7,887
10,682
(6,531)
4,151
135,988
68
107,166
28,754
135,988

These Financial Statements were approved and authorised for issue by the Trustees of United Synagogue on 24 June 2024

Michael Goldstein Maxwell Nisner President Treasurer

The notes on pages 24 to 40 form part of these financial statements.

22

Trustees’ Report and Annual Accounts year ended 31 December 2023

UNITED SYNAGOGUE

CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 December 2023

Note
Cash flows from operating activities
Net cash (used) by operating activities
A
Cash flows from investing activities
Dividends and interest received
(Loss) on foreign exchange
Proceeds from sale of tangible fixed assets
Payments to acquire tangible fixed assets
Purchase of investments
Inventories
Net cash provided / (used) in investing 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
B		 2023
£'000
(477)
207
(1)
5,777
(3,707)
(104)
93
2,265
1,788
7,887
9,675		 2022
£'000
(960)
99
(1)
391
(3,230)
(590)
82
(3,249)
(4,209)
12,096
7,887

NOTES TO CASH FLOW STATEMENT

A. Reconciliation of cash flows from operating activities
Net income / (expenditure) for the reporting period
Dividends and net interest received
Interest paid
Depreciation charge
Loss on non-cash disposal of fixed assets
(Profit) on disposal of tangible fixed assets
Unrealised (gains) / losses on foreign exchange
Decrease / (increase) in inventories
(Increase) in debtors
Increase in creditors and accruals
Net cash outflow on operational activities
B. Analysis of cash and cash equivalents
Cash at bank and in hand
Bank deposits
Total cash and cash equivalents		 Balance at
1-Jan-23
£'000
5,831
2,056
7,887		 2023
£'000
3,632
(244)
37
810
11
(4,627)
(20)
36
(247)
135		 2022
£'000
(1,185)
(142)
43
823
11
(291)
44
(205)
(603)
545
(477) (960)
Cash flow
£'000
(309)
2,097
1,788		 Balance at
31-Dec-23
£'000
5,522
4,153
9,675

23

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments measured at fair value in accordance with the accounting policies set out below. These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued on 16 July 2014.

The Statement of Financial Activities (SOFA) and Balance Sheets consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line-byline basis.

The Trustees have produced cash flow forecasts for the remainder of 2024 and 2025 and are satisfied that the Charity has sufficient cash, investments and property assets. Accordingly, the Trustees have formed the reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future and are confident about the Charity’s ability to continue. Accordingly, they continue to adopt the Going Concern Basis in preparing the Financial Statements as outlined in the Statement of Trustees’ Responsibilities.

No separate SOFA has been presented for the Charity alone. The charity has taken advantage of the exemptions in FRS 102 from the requirements to present a charity only Cash Flow Statement and certain disclosures about the charity’s financial instruments.

Public Benefit

The Charity is a Public Benefit Entity.

Associate and Affiliated Synagogues and Day Schools

Although the Charity has legal title to the Affiliated Synagogues’ properties held by United Synagogue Trusts Limited, these properties have not been consolidated into the balance sheets in the fixed assets schedule as the Charity does not exercise either day to day control over these assets or over the operations of these communities, which are therefore not consolidated within the SOFA. In addition, the Charity does not exert day to day control over the Associate Synagogue or affiliated Day Schools and, as a consequence, the results of these entities together with their assets and liabilities have not been consolidated.

Fund Accounting

Unrestricted funds are those which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Designated funds comprise unrestricted funds that have been designated by the Trustees for particular purposes.

Restricted funds are to be used in accordance with restrictions imposed by donors or which have been determined to have been raised by the Charity for particular purposes. The costs of raising and

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UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

administering restricted funds are charged against the specific fund involved with the exception of the Funeral Expenses Scheme (FES) which is not charged any central administration costs.

Investment income and gains are allocated to the appropriate fund. Tax reclaims arising on Gift Aid donations are allocated as per the original donation.

Incoming Resources

All incoming resources are included in the SOFA when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies apply to categories of income:

• Grants received, where related to performance and specific deliverables, are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance of its recognition, it is deferred and included in creditors; where entitlement occurs before income being received the income is accrued. Capital grants are accounted for as income as soon as they are received.

Resources Expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. The following specific policies apply to categories of expenditure.

• Fundraising costs are those incurred in seeking voluntary contributions. Costs incurred in producing the Charity’s newsletters and website are allocated between fundraising and other cost centres on the basis of the content that relates to each of these activities.

• Support costs, which include the central office functions such as general management, payroll administration, budgeting and accounting, information technology, property portfolio management, human resources, and financing are allocated in direct proportion to the total expenditure (staff costs, depreciation and other) on each charitable activity.

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UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

Tangible Fixed Assets and Depreciation

Property

Additions to the portfolio prior to 1 January 1996 have been included at the Trustees’ best estimate of reinstatement cost or open market value at that date. Additions to the portfolio since 1 January 1996 have been included at cost. Properties, in which the equity is shared between the Charity and an employee, or former employee, have been valued at the net amount paid by the Charity towards the cost of the property at the date of acquisition.

The infrastructure, including buildings, at the burial grounds at Bushey and at Waltham Abbey have been included at a value which comprises the unamortized cost of the infrastructure works. Land purchased for future burial use has been included at cost.

No provision for depreciation is made on other freehold properties, other than the central offices at 305 Ballards Lane, London N12 8GB, as there is a policy and practice of regular maintenance and repair (which is charged in the profit and loss account) such that the previously assessed standard of performance is maintained, and the assets are unlikely to suffer from economic or technological obsolescence. There is also a policy of disposing of such assets before the end of their useful economic lives when surplus to ongoing requirements. The proceeds of all such asset disposals have not been materially less than their carrying value. Any potential depreciation charge is therefore considered to be immaterial.

The cost of a house owned by the Charity, in which options to acquire the remaining equity have been contractually granted to the occupying employee, is being amortised over the remaining term of the arrangement. This has been agreed by the Charity Commission and reported to HMRC for tax purposes.

The Trustees have carried out an impairment review of the properties of the Charity and are confident that there has been no reduction in the service potential of these properties and that the potential market value is greater than the book values. Accordingly, they feel that no impairment provision is necessary.

Other Tangible Fixed Assets

All other tangible fixed assets costing more than £5,000 are capitalised.

Depreciation is provided to write off the cost of these assets over their expected useful life. This is calculated on a straight-line basis using the following rates.

Plant and Machinery 20% per annum
Specialised Cemetery Vehicles 20% per annum
Other Motor Vehicles 33% per annum
Office and Computer Equipment 33% per annum
Central Office Premises 2% per annum

Land is not depreciated.

No amount is included in the accounts for religious appurtenances. These assets are excluded from the accounts because of their singular nature. Given their unique value, their true worth would only be realised on sale. There is however an aggregate figure included for insurance purposes to ensure that any losses, however incurred, are within the Charity’s overall policy cover.

The trustees have determined that the Charity holds no heritage assets as defined by FRS 102.

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UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

Investments

Listed investments are stated at market value at the closest available date to the year end. Movements in the value of investments are charged or credited to the funds to which they relate.

Stocks

Stocks are valued at the lower of cost and net realisable value. Items donated for resale are not recorded as stock and are accounted for in the financial statements as income when they are sold.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for Liabilities

Provisions are recognised when the Charity has a present obligation (legal or constructive) as a result of a past event, it is probable that the Charity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

The Charity recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 6 months. The provision is measured at the salary cost payable for the period of absence.

Critical Accounting Judgements and Key Sources of Estimation Uncertainty

In the application of the charity’s accounting policies, which are described in this note, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily accessible from other sources. The estimates and underlying 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

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UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

The following key judgements have been made:

The Trustees have not made any significant estimations in these financial statements.

Financial Instruments

The charity 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 amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors, accrued income and employee loans. Financial liabilities held at amortised cost comprise trade and other creditors and accruals.

Investments, including bonds held as part of an investment portfolio are held at fair value at the Balance Sheet date, with gains and losses being recognised within income and expenditure. Investments in subsidiary undertakings are held at cost less impairment.

Pension Costs

The Charity operates an auto-enrolment defined contribution pension scheme which is open to all employees who are eligible under current pensions legislation. Accordingly, the accounting charge for the year represents the Charity’s employers’ contributions payable to this scheme.

Operating Leases

Rentals payable on operating leases are charged to the SOFA over the period to which the cost relates.

Foreign Currencies

Foreign currency transactions are recorded at the exchange rate ruling on the date of transaction. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the retranslation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognised in the Statement of Financial Activities.

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UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

2.
DONATIONS & LEGACIES
Including gift aid reclaimed
Synagogue communal contributions
Synagogue membership income
Other donations to synagogues (see below)
Other donations
Youth Charity
Donations towards capital projects
Inventories		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
2,640
-
2,640
2,586
-
2,586
-
9,547
9,547
-
9,134
9,134
-
6,897
6,897
-
6,611
6,611
2,369
762
3,131
2,328
870
3,198
-
10
10
-
-
-
5,009
17,216
22,225
4,914
16,615
21,529
-
1,331
1,331
-
1,101
1,101
5,009
18,547
23,556
4,914
17,716
22,630

Other donations to synagogues include £341,000 (2022: £381,000) of donations which were subsequently granted to the Board of Deputies of British Jews (see note 10 below).

3.
GRANTS RECEIVED
Government prison visitation grant
Community Security Trust ("CST")
Other grants		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
14
-
14
14
-
14
-
551
551
-
437
437
-
-
-
-
8
8
14
551
565
14
445
459

The grant from the CST includes funds it had received from the Government to support community security.

4.
CHARITABLE ACTIVITIES
Including gift aid reclaimed
Funeral Expenses Scheme
Burial operations
Temporary seats
Educational Activities
Jewish Living
Marriages
Office of the Chief Rabbi
Beth Din
Advertising income
Other
5.
OTHER TRADING ACTIVITIES
Advertising
Kashrut
Hall hire and catering		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
-
3,201
3,201
-
2,975
2,975
4,046
-
4,046
3,499
-
3,499
-
72
72
-
61
61
36
2,750
2,786
52
2,153
2,205
433
-
433
402
-
402
-
43
43
-
44
44
80
-
80
86
-
86
77
-
77
81
-
81
-
120
120
-
218
218
-
155
155
-
378
378
4,672
6,341
11,013
4,120
5,829
9,949
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
174
-
174
185
-
185
6,474
-
6,474
6,044
-
6,044
76
1,551
1,627
-
1,320
1,320
6,724
1,551
8,275
6,229
1,320
7,549

29

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

NOTES TO THE FINANCIAL STATEMENTS (continued)
6.
INVESTMENT INCOME
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Rents received
75
985
1,060
79
762
841
Funeral Expenses Scheme investment income
-
107
107
-
90
90
Deposits and bank interest
100
-
100
9
-
9
175
1,092
1,267
88
852
940
7.
OTHER INCOME
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Affiliation fees
40
-
40
40
-
40
Other
228
-
228
98
-
98
268
-
268
138
-
138
8.
COST OF RAISING FUNDS
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Fund Raising
356
-
356
359
-
359
9.
COST OF CHARITABLE ACTIVITIES
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Member synagogues
-
22,718
22,718
-
21,374
21,374
Community Services Division
474
-
474
541
-
541
Jewish Education
282
-
282
147
-
147
Welfare, Young People and Young Families
2,449
-
2,449
2,436
-
2,436
Burial
3,560
-
3,560
3,423
-
3,423
Beth Din
953
-
953
856
-
856
Office of the Chief Rabbi
1,430
-
1,430
1,243
-
1,243
Rabbinic Development
120
-
120
143
-
143
Grants paid (see Note 10 below)
757
396
1,153
895
431
1,326
Central support costs and services
4,240
85
4,325
4,099
155
4,254
Communities of Potential
17
-
17
106
-
106
Willesden House of Life
130
-
130
193
-
193
14,412
23,199
37,611
14,082
21,960
36,042
2023
2022
£'000
£'000
Auditors' remuneration (excluding VAT) included within support costs above:
Fees payable to the Charity's auditors for the audit of the Charity's annual accounts
73
67
Fees for other services: Tax advice
4
17
77
84
10. GRANTS PAID
2023
2022
The grants made during the year were:
£'000
£'000
UJIA (Kol Nidre Appeal)
39
72
University Jewish Chaplaincy
150
220
Jewish Community Academy Trust (see note 18 below)
150
175
Community Security Trust
4
37
Grant to Rabbinical Council of the United Synagogue
47
-
Grants to individuals and other charities (including distribution of Kol Nidre appeal funds)
422
441
Board of Deputies of British Jews
341
381
1,153
1,326		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
75
985
1,060
79
762
841
-
107
107
-
90
90
100
-
100
9
-
9
175
1,092
1,267
88
852
940
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
40
-
40
40
-
40
228
-
228
98
-
98
268
-
268
138
-
138
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
356
-
356
359
-
359
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
-
22,718
22,718
-
21,374
21,374
474
-
474
541
-
541
282
-
282
147
-
147
2,449
-
2,449
2,436
-
2,436
3,560
-
3,560
3,423
-
3,423
953
-
953
856
-
856
1,430
-
1,430
1,243
-
1,243
120
-
120
143
-
143
757
396
1,153
895
431
1,326
4,240
85
4,325
4,099
155
4,254
17
-
17
106
-
106
130
-
130
193
-
193
14,412
23,199
37,611
14,082
21,960
36,042
2023
2022
£'000
£'000
73
67
4
17
77
84
2023
2022
£'000
£'000
39
72
150
220
150
175
4
37
47
-
422
441
341
381
1,153
1,326

30

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

11. COST OF TRADING ACTIVITIES
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Advertising
(1)
-
(1)
3
-
3
Kashrut
4,753
-
4,753
4,120
-
4,120
Hall hire and catering
-
1,910
1,910
-
1,512
1,512
Other
380
-
380
157
-
157
5,132
1,910
7,042
4,280
1,512
5,792
12. OTHER COSTS
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Interest and bank charges
37
-
37
41
2
43
Depreciation
720
90
810
741
82
823
Fund management fees
-
83
83
-
82
82
757
173
930
782
166
948
13. NET (LOSSES) /GAINS ON INVESTMENTS
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Realised gains / (losses) on investments
(1)
274
273
(1)
(121)
(122)
Unrealised gains / (losses) on investments
(20)
574
554
44
(690)
(646)
(21)
848
827
43
(811)
(768)
14. TRANSFERS BETWEEN FUNDS
2023
2023
2022
2022
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
Transfers from restricted funds to unrestricted funds
Burial charge to FES for funerals and entrance fees (a)
3,415
(3,415)
3,199
(3,199)
Interest charged on loans to communities
-
-
245
(245)
Rents charged on properties let to communities
48
(48)
45
(45)
Profit of trading subsidiary gift-aided to Parent Charity
1
(1)
8
(8)
Reversal of prior year US Advertising profits not eligible for gift aid
163
(163)
-
-
Other transfers from Restricted to Unrestricted funds
726
(726)
462
(462)
4,353
(4,353)
3,959
(3,959)
Transfers from unrestricted funds to restricted funds
Losses incurred by chronic deficit Synagogues without property
(190)
190
(101)
101
Interest credited on communities and FES funds
-
(140)
140
Kol Nidre Appeal allocation to Communities
(503)
503
(508)
508
Advertising income for the benefit of Synagogues
(108)
108
(151)
151
(801)
801
(900)
900
Total transfers between funds
3,552
(3,552)
3,059
(3,059)		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(1)
-
(1)
3
-
3
4,753
-
4,753
4,120
-
4,120
-
1,910
1,910
-
1,512
1,512
380
-
380
157
-
157		 Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(1)
-
(1)
3
-
3
4,753
-
4,753
4,120
-
4,120
-
1,910
1,910
-
1,512
1,512
380
-
380
157
-
157
5,132
1,910
7,042
4,280
1,512
5,792
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
37
-
37
41
2
43
720
90
810
741
82
823
-
83
83
-
82
82
757
173
930
782
166
948
Unrestricted
Restricted
2023
Unrestricted
Restricted
2022
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(1)
274
273
(1)
(121)
(122)
(20)
574
554
44
(690)
(646)
(21)
848
827
43
(811)
(768)
2023
2023
2022
2022
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
3,415
(3,415)
3,199
(3,199)
-
-
245
(245)
48
(48)
45
(45)
1
(1)
8
(8)
163
(163)
-
-
726
(726)
462
(462)
4,353
(4,353)
3,959
(3,959)
(190)
190
(101)
101
-
(140)
140
(503)
503
(508)
508
(108)
108
(151)
151
(801)
801
(900)
900
3,552
(3,552)
3,059
(3,059)

(a) A charge is levied on the FES for every member funeral conducted which gives rise to a transfer from Restricted to Unrestricted funds

(b) The transfers between funds show the net position in this regard as there can be transfers between specific funds within both restricted and unrestricted funds.

31

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. STAFF NUMBERS AND EMOLUMENTS

TES TO THE FINANCIAL STATEMENTS (continued)
STAFF NUMBERS AND EMOLUMENTS
2023 2022
The average number of full and part-time persons employed during the year was as follows: Number Number
Synagogues 520 518
Kashrut 73 66
Burial 61 64
Other charitable activities and central support 128 123
782 771
2023 2022
£'000 £'000
The aggregate emoluments of these persons were as follows:
Salaries 19,712 18,825
Social security costs 1,922 1,889
Pension scheme contributions 664 657
22,298 21,371
2023 2022
Number Number
The numbers of employees in United Synagogue communities, support departments and central offices whose
emoluments for the year (excluding pension contributions and the provision of accommodation) fell within the
following bands were:
£60,001 to £70,000 19 16
£70,001 to £80,000 18 14
£80,001 to £90,000 5 5
£90,001 to £100,000 4 6
£100,001 to £110,000 7 5
£110,001 to £120,000 4 4
£120,001 to £130,000 4 3
£130,001 to £140,000 2 1
£140,001 to £150,000 1 1
£150,001 to £160,000 1 -
£170,001 to £180,000 - 1
£180,001 to £190,000 - 1
£220,001 to £230,000 1 -
£230,001 to £240,000 1 -
£240,001 to £250,000 - 1
The number of these employees to whom retirement benefits are accruing under defined contribution schemes 67 58
2023 2022
£'000 £'000
Contributions in the year for these 67 (2023: 58) employees to defined contribution schemes 318 275
The defined pension contributions are allocated between restricted and unrestricted activities based upon where the individual concerned devotes
the majority of their time.
2023 2022
£'000 £'000
The total emoluments (including pension and Employer's National Insurance contributions) paid to the Chief Rabbi,
Dayanim and key executives (2023: 18 employees, 2022: 16 employees) listed on page 3 of these Financial Statements 2,560 2,414
During the year, redundancy payments arising from restructures totalled £9,000 (2022: £59,000).

16. TRUSTEE REMUNERATION

None of the Trustees have been paid any remuneration, received any benefits or been paid any expenses by the charity or any of its subsidiaries.

17. VOLUNTEERS

The Charity benefits from the contribution of thousands of volunteers across its Synagogues. Each Synagogue has an elected set of Honorary Officers and a Synagogue Council who are responsible for the day-to-day management and operation of the Synagogue. In addition, religious services are supported by volunteers. Synagogues will undertake multiple other activities throughout the year including fundraising, welfare and educational, all of which will involve many further volunteers.

32

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

18. RELATED PARTY TRANSACTIONS

Transactions with Subsidiaries and related Charities:

• US Advertising Limited

This subsidiary sells advertising space within Synagogue publications and donates all profits to the Parent Charity. The total receivable by the Parent Charity for 2023 amounted to £105,487 (2022: £151,257). At the year end, the amount owed to the subsidiary from the Parent Charity was £149,354 (2022: owed to Parent Charity £187,177).

• United Synagogue Design & Build Limited

This subsidiary designs and builds new buildings for the Parent Charity. During the year, the amount charged by the subsidiary to the Charity was £59,145 (2022: £325,866). The amount owed by the subsidiary to the Charity at the year end amounted to £1,117 (2022: £10,307).

• United Central Limited

This subsidiary is engaged in the business of hiring out the basement of Central Synagogue, a building in which the Parent Charity holds the freehold title, for conferences and functions. The Parent Charity lent the subsidiary the funds in order to undertake a major refurbishment of the basement and to cover pre-trading and start up costs. During the year, the Charity lent the subsidiary £103,099 (2022: £238,538). The amount owed by the subsidiary to the Charity at the year end amounted to £4,021,538 (2022: £3,918,439). This loan is unsecured. A provison of £4,000,000 has been made in the Parent Charity's Balance Sheet against the possibility of non-recovery of this debt.

• The United Synagogue Youth Charity

During the year the Parent Charity received grants of £13,728 (2022: £nil) from this related charity. At the year end, the amount owed to this Charity from the Parent Charity was £nil (2022: £4,504).

• Chief Rabbinate Trust

This charity raises funds to support the running costs of his office (which are paid for by the Parent Charity) and to support a number of his programmes, which includes making grants to US Synagogues. During the year, grants totalling £84,271 (2022: £20,223) were made to the Parent Charity to support activities of Synagogues and £698,500 (2022: £558,597) to support the running costs of his office. At the year end, the amount owed by this Charity to the Parent Charity was £79,088 (2022: £107,126).

• Jewish Community Accademy Trust ('JCAT')

Trustees Michael Goldstein and Claire Lemer, along with the Chief Rabbi and key Executive David Frei, are all members of JCAT. The two Trustees are also Trustees of JCAT. JCAT is a multi academy trust for 4 Jewish primary schools. During the year, the Charity made a grant of £150,000 (2022: £175,000) providing financial support for JCAT.

The charity provides Kashrut supervision for JCAT schools and received income of £36,443 (2022: £16,189) for Kashrut supervision during the year.

Transactions with Trustees and Key Executives:

• Key Executive Jo Grose is a Member and Trustee of Yavneh College Academy Trust ('Yavneh'). During the year, the Charity paid £60,000 (2022 £45,748) to Yavneh as a rental payment to occupy the premises on Shabbat and Festival days.

33

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued) 19. TANGIBLE FIXED ASSETS

Charity
Cost / valuation
At 1 January 2023
Additions during the year
Less: Disposals during the year
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Less: Disposals during the year
At 31 December 2023
Net Book Value 31 December 2023
Net Book Value 31 December 2022
Group
Cost / valuation
At 1 January 2023
Additions during the year
Less: Disposals during the year
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Less: Disposals during the year
At 31 December 2023
Net Book Value 31 December 2023
Net Book Value 31 December 2022		 Freehold
and Long
Motor
Fixtures,
Fittings &
I.T.
Total
Leasehold
Vehicles
Equipment
Project
£'000
£'000
£'000
£'000
£'000
122,935
1,036
2,730
1,668
128,369
3,640
92
171
-
3,903
126,575
1,128
2,901
1,668
132,272
(1,161)
(28)
-
-
(1,189)
125,414
1,100
2,901
1,668
131,083
4,143
914
2,320
1,668
9,045
441
56
117
-
614
4,584
970
2,437
1,668
9,659
-
(28)
-
-
(28)
4,584
942
2,437
1,668
9,631
120,830
158
464
-
121,452
118,792
122
410 -
119,324
Freehold
and Long
Motor
Fixtures,
Fittings &
I.T.
Total
Leasehold
Vehicles
Equipment
Project
£'000
£'000
£'000
£'000
£'000
127,532
1,036
3,021
1,668
133,257
3,433
96
178
-
3,707
130,965
1,132
3,199
1,668
136,964
(1,161)
(28)
-
-
(1,189)
129,804
1,104
3,199
1,668
135,775
4,305
913
2,402
1,668
9,288
558
56
196
-
810
4,863
969
2,598
1,668
10,098
-
(28)
-
-
(28)
4,863
941
2,598
1,668
10,070
124,941
163
601
-
125,705
123,227
123
619
-
123,969

As described in the accounting policies, no amount is included in the accounts for religious appurtenances or for synagogue and residential properties held in trust for affiliated communities. The Charity does not hold any heritage assets as defined in FRS 102.

34

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued) 20. INVESTMENTS

Market value at 1 January
Net monies invested
Cash withdrawn
Management fees charged to capital
Realised gains / (losses) on investments
Unrealised gains / (losses) on investments
Total market value at 31 December
Historical cost as at 31 December
JP Morgan Cash
JP Morgan Equities
JP Morgan Fixed Income
JP Morgan Miscellaneous
JP Morgan Alternative Assets
JP Morgan Foreign Exchanges
UBS AG Alternative Investments
UBS AG Cash
LSE Quoted investments		 2023
2022
£'000
£'000
7,868
8,171
104
590
(10)
-
(83)
(82)
274
(121)
574
(690)
8,727
7,868
7,453
7,158
2023
2022
2023
2022
£'000
£'000
£'000
£'000
54
38
54
38
4,000
3,854
5,214
4,615
2,520
2,456
2,467
2,250
69
-
74
-
744
744
811
812
-
-
38
75
10
10
11
11
-
-
-
10
56
56
58
57
Market Value
Charity and Group
Cost		 2023
2022
£'000
£'000
7,868
8,171
104
590
(10)
-
(83)
(82)
274
(121)
574
(690)
Charity and Group
8,727
7,868
7,453
7,158
7,453
7,158
8,727
7,868
INVENTORIES
Publications
Funeral requisites		 2023
2022
2023
2022
£'000
£'000
£'000
£'000
206
250
206
250
34
26
34
26
Charity
Group
240
276
240
276

21. INVENTORIES

DEBTORS
Trade debtors
Accrued income
Prepayments
VAT
Other debtors
Loans to employees
Amounts due from subsidiary undertakings		 2023
2022
2023
2022
£'000
£'000
£'000
£'000
1,221
1,215
1,233
1,136
664
622
668
652
626
413
636
418
-
-
1
3
207
206
207
288
21
22
21
22
402
4,405
-
-
Charity
Group
3,141
6,883
2,766
2,519

22. DEBTORS

CASH AT BANK AND IN HAND
Bank deposits maturing in less than one year
Cash at bank		 2023
2022
2023
2022
£'000
£'000
£'000
£'000
3,783
2,056
4,153
2,056
4,681
4,149
5,522
5,831
Group
Charity
8,464
6,205
9,675
7,887

23. CASH AT BANK AND IN HAND

35

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)
24. CREDITORS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and Social Security
VAT
Other creditors
Accruals
Deferred income (see note 25)
Amounts due to subsidiary undertakings
25. DEFERRED INCOME
Charity and Group:
Kashrut (a)
Burial (b)
Synagogues (c)
Community Support (d)
Young People and Young Families (e)
House of Life (f)
Schools (g)		 2023
2022
2023
2022
£'000
£'000
£'000
£'000
1,149
1,163
1,213
1,229
565
503
565
503
125
125
127
127
389
471
391
471
968
1,107
985
1,123
3,385
3,078
3,385
3,078
447
26
-
-
Group
Charity
7,028
6,473
6,666
6,531
Balance at
Prior year Current year
Balance at
1-Jan-23
releases
deferrals
31-Dec-23
£'000
£'000
£'000
£'000
388
(388)
335
335
2,602
(268)
387
2,721
-
-
223
223
7
-
-
7
81
(81)
67
67
-
-
16
16
-
-
16
16
3,078
(737)
1,044
3,385

(a) This comprises certification income invoiced in advance of the issue of annual certificates and advertising sold for the 2024 edition of the Really Jewish Food Guide.

(b) Amounts paid in advance for funerals, tombstone maintenance and rent are all deferred. Funds for prepaid funerals or maintenance are released when carried out. Rental income received in advance is released when due.

(c) Amounts received in advance for rental income and school fees

(d) Funding deferred for various programmes and for the provision of community support as well as funding received for hospital and prison visitation carried forward to 2024.

(e) Amounts paid in advance for programmes scheduled to take place in 2024.

(f) Amounts paid in advance for a publication

(g) Grant income for Gesher inclusion programme to take place in 2024

26. ENDOWMENT FUNDS

ENDOWMENT FUNDS
United Synagogue Bequests and Trusts Fund
Group		 Balance at
Transfers to
Balance at
1-Jan-23 Other Funds
31-Dec-23
£'000
£'000
£'000
68
-
68
68
-
68

The United Synagogue Bequests and Trusts Fund was established through the consolidation of many smaller charities. The objects of the charity are to further the religious, educational or other charitable work of the United Synagogue.

36

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)
27. RESTRICTED FUNDS
Member Synagogue funds (a)
Funeral Expenses Scheme (b)
Miscellaneous funds (c)
Charity
United Synagogue Bequests and Trusts Fund (d)
The United Synagogue Youth Charity (e)
The Chief Rabbinate Trust (f)
Group - Income funds
Group - Endowment Funds(see note 26 above)
Group - total		 Balance at
Incoming
Resources
Transfers
Balance at
1-Jan-23
Resources
Expended (see note 14)
31-Dec-23
£'000
£'000
£'000
£'000
£'000
92,857
28,630
(25,066)
611
97,032
12,986
4,151
(83)
(3,415)
13,639
248
-
-
-
248
106,091
32,781
(25,149)
(2,804)
110,919
33
-
-
-
33
279
14
(2)
(14)
277
763
762
(132)
(734)
659
1,075
776
(134)
(748)
969
107,166
33,557
(25,283)
(3,552)
111,888
68
-
-
-
68
107,234
33,557
(25,283)
(3,552)
111,956

(a) Member Synagogue funds comprise those monies received by each individual Synagogue, less those spent in connection with the activities of each individual Synagogue. When a Member Synagogue closes, the funds are transferred to general unrestricted funds.

(b) The Funeral Expenses Scheme allows members to subscribe a small annual sum, in addition to their Synagogue membership subscription, to ensure that in due course their funeral costs will be covered. On the occasion of a funeral there is a transfer from restricted to unrestricted funds of a specified sum to reflect this.

(c) Miscellaneous funds consist of several small funds, the principal fund being a building fund legacy.

(d) United Synagogue Bequests & Trusts Fund has as its objects the furtherance of the charitable work of the United Synagogue.

(e) The United Synagogue Youth Charity is utilised to further the aims of Tribe.

(f) The Chief Rabbinate Trust supports the work of the Chief Rabbi and his office.

28. UNRESTRICTED FUNDS
Other Charitable Funds:
Unrestricted Funds - Non designated (a)
Unrestricted Funds - Designated for other purposes (b)
Charity
US Advertising Limited (c)
Scopus Jewish Educational Trust (d)
United Central Limited (e)
United Synagogue Design & Build Limited (f)
Group		 Balance at
Incoming
Resources
Transfers
Provision
against Inter-
company
Balance at
1-Jan-23
Resources
Expended (see note 14)
Loan (g)
31-Dec-23
£'000
£'000
£'000
£'000
£'000
£'000
(see below)
27,952
16,589
(20,056)
3,552
(4,000)
24,037
40
-
-
-
-
40
27,992
16,589
(20,056)
3,552
(4,000)
24,077
-
173
(13)
-
-
160
1,237
-
-
-
-
1,237
(479)
76
(585)
-
4,000
3,012
4
59
(58)
-
-
5
28,754
16,897
(20,712)
3,552
-
28,491

(a) Non-designated unrestricted funds include Burial, whose main function is to arrange for funerals and maintain cemeteries, and the Kashrut Division of the London Beth Din (KLBD).

(b) Funds have been set aside, among other purposes: to aid various communities, for educational purposes, for tagging Sifrei Torah and other valuables.

(c) The resources expended by US Advertising Limited include £105,487 gift aided to the charity under a deed of covenant

(d) These are the assets relating to the Scopus Jewish Educational Trust which came under the control of the United Synagogue at the beginning of 2017

(e) The accumulated deficit includes pre- trading expenditure

(f) The resources expended by United Synagogue Design & Build Limited include £1,117 gift aided to the charity under a deed of covenant

(g) Included in the above is a provision for intercompany loans that the Parent does not consider to be recoverable

37

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued) 29. ANALYSIS OF ASSETS AND LIABILITIES BY FUND

Group
Tangible fixed assets
Investments
Cash at bank
Other current assets
Current liabilities
Deferred income
Total net assets
Charity
Tangible fixed assets
Investments
Cash at bank
Other current assets
Current liabilities
Deferred income
Total net assets		 2023
2023
2022
2022
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
25,271
100,434
25,865
98,104
-
8,727
-
7,868
6,003
3,672
5,785
2,102
2,560
446
2,305
490
(1,958)
(1,323)
(2,123)
(1,330)
(3,385)
-
(3,078)
-
28,491
111,956
28,754
107,234
2023
2023
2022
2022
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
21,032
100,420
21,219
98,104
-
8,727
-
7,868
5,729
2,735
5,230
975
2,946
435
6,699
460
(2,468)
(1,175)
(2,078)
(1,316)
(3,385)
-
(3,078)
-
23,854
111,142
27,992
106,091

Endowment fund net current assets of £68,000 (2022: £68,000) are included in restricted funds in the Group of which £nil (2022: £nil) are within the Charity.

30. SUBSIDIARY COMPANIES

The Charity has six wholly owned subsidiary undertakings (three of which are trading companies, two are charities and the sixth is dormant) which are incorporated in the UK. The Registered Office of each subsidiary is 305 Ballards Lane, London N12 8GB. Summary Income and expenditure accounts are shown below.

United Synagogue Trusts Limited did not trade during the year. United Synagogue Trusts Limited holds properties in trust on behalf of the Charity. The results of the other subsidiaries are incorporated in the Financial Statements.

The United Synagogue Group figures include all the above together with the United Synagogue Bequests and Trusts Fund (registered charity number 1051619). All these entities are under the control of the United Synagogue's Trustees.

38

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

30. SUBSIDIARY COMPANIES (continued)

SUBSIDIARY COMPANIES (continued)
US Youth US US Design Total Total
United Central Charity **CRT ** Advertising & Build 2023 2022
Company number 11279144 02033941 04614285 02146769 06797965
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Total income 76 14 761 174 59 1,084 1,408
Total costs (586) (16) (866) (69) (58) (1,595) (1,484)
Gross (deficit) / surplus (510) (2) (105) 105 1 (511) (76)
Gift aid payment to Parent charity - - - (105) (1) (106) (197)
(Deficit) / surplus for the year (510) (2) (105) - - (617) (273)
Retained (deficit) / surplus b/f (479) 281 760 132 - 694 794
Retained surplus/ (deficit) c/f (989) 279 655 132 - 77 521
Gross assets at 31 December 3,038 282 742 222 2 4,286 5,083
Gross liabilities at 31 December (4,027) (3) (87) (90) (2) (4,209) (4,522)
Reserves at 31 December (989) 279 655 132 - 77 561

Total income includes charges from the subsidiaries to the Charity amounting to £313,000 (2022: £326,000) The amounts gift aided to the Charity were all under deeds of covenant

31. OPERATING LEASE INCOME AND COMMITMENTS

At 31 December the total of future minimum income receivable under non-cancellable operating leases amounted to:

Due in less than one year
Between one and five years
More than five years		 Land and
Land and
Buildings
Buildings
2023
2022
£'000
£'000
828
681
1,359
1,581
462
352
2,649
2,614

At 31 December the total of future minimum commitments payable under non-cancellable operating leases amounted to:

Due in less than one year
Between one and five years
More than five years
Lease payments recognised as an expense		 Land and
Land and
Buildings
Buildings
2023
2022
£'000
£'000
422
409
566
366
148
231
1,136
1,006
2023
2022
£'000
£'000
934
913

39

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

32. CAPITAL COMMITMENTS

The following capital expenditure has been approved by the Trustees for projects currently being undertaken but has not been provided for in these financial statements.

financial statements.
Contracts placed:
Chigwell Synagogue: redevelopment
Muswell Hill Synagogue: redevelopment
Wembley: new Synagogue development		 2023
2022
£'000
£'000
180
-
-
64
-
137
180
201

33. TAXATION

The United Synagogue is able to take advantage of the exemptions from taxation on income and gains available to charities and accordingly no taxation is payable on the net incoming resources. The charitable subsidiary undertakings are also able to take advantage of the exemptions from taxation on income and gains available to charities. No taxation charge arises during the year in the non-charitable trading companies because they have a policy of paying amounts equal to any taxable profits to the Parent charity under a gift aid deed of covenant.

34. CONTINGENT LIABILITIES

The Charity is ultimately responsible for the financial obligations of all Member Synagogue communities, should they default on any future liability. There is no current contingent liability.

35. CHARITABLE STATUS

The United Synagogue is a charity registered in England and Wales, charity number 242552. Its principal place of business is 305 Ballards Lane, London N12 8GB.

40

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

MEMBER SYNAGOGUES

Ahavat Yisrael Alei Tzion Barnet&District
Belmont Birmingham Central Borehamwood&Elstree
Brondesbury Park Bushey&District Central
Chigwell&Hainault Cockfosters&N. Southgate Cranbrook
Ealing Edgware Enfield&Winchmore Hill
Finchley Finsbury Park Golders Green
Hackney&East London Hadley Wood Hampstead
Hampstead Garden Suburb Hendon Highams Park&Chingford
Highgate Hull Kenton
Kingsbury Kingston, Surbiton&District Luton
Magen Avot Mill Hill Mill Hill East
Muswell Hill New West End Northwood
Palmers Green&Southgate Pinner Potters Bar
Radlett Ruislip & District Richmond
St. Johns Wood St. Albans Shenley
Sheffield Southport South Hampstead
South Tottenham Stanmore & Canons Park Sutton&District
Watford Wembley Welwyn Garden City
Woodside Park Woodford Forest

AFFILIATED SYNAGOGUES AND ASSOCIATE SYNAGOGUE[1]

Catford & Bromley Chelsea Hemel Hempstead Peterborough Romford & District Staines & District 1 Western Marble Arch

41

UNITED SYNAGOGUE

Trustees’ Report and Annual Accounts year ended 31 December 2023

UNITED SYNAGOGUE schools for which the US is the Foundation Body

JFS King Solomon High School Sinai Jewish Primary School Wohl Ilford Jewish Primary School

SCOPUS EDUCATIONAL TRUST schools which are administered by the US and for which the US is the Foundation Body

Mathilda Marks-Kennedy Jewish Primary Rosh Pinah Primary School School Simon Marks Jewish Primary School

JEWISH COMMUNITY ACADEMY TRUST schools which are supported by the US

Hertsmere Jewish Primary School Rimon Jewish Primary School Sacks Morasha Jewish Primary School Wolfson Hillel Primary School

42