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2024-12-31-accounts

THE UNITED SYNAGOGUE TRUSTEES’

Report and Annual Accounts

FOR THE YEAR ENDED 31 DECEMBER 2024

900 people attended the United Synagogue’s October 7 commemoration in Bushey

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

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

UNITED SYNAGOGUE TRUSTEES’ REPORT AND ANNUAL ACCOUNTS Year ended 31 December 2024

Charity registration number 242552

BOARD OF TRUSTEES

Appointed Retired
President Michael Goldstein1 10 July 2017
Treasurer Maxwell Nisner1 10 July 2017
Other Trustees
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
Saul Taylor1 10 July 2017
Jacqui Zinkin4 22 July 2019
1serving second 4 year term from 19 July 2021
2serving first 4 year term from 19 July 2021
3serving first 4 year term from 17 July 2023
4serving second 4 year term from 17 July 2023
5co-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 of the Commonwealth

Dayanim

Chief Rabbi Sir Ephraim Mirvis

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

Key Executives

Chief Executive Chief Operating Officer Chief Financial Officer

Chief Executive, Office of the Chief Rabbi

Director of Centre for Rabbinic Excellence Director of Communications Director of Community life Director External & Legal Services Director of Fund Raising Director of Human Resources Director of Kashrut Director of Property Director of Schools Strategy

Executive Offices

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

Bankers

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

Charity Solicitors

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

Jo Grose David Collins Christopher Levine (from 1[st] December 2024) Richard Taylor (until 30[th] June 2024) Ari Jesner

Rabbi Nicky Liss Richard Verber Barnaby Nemko David Frei David Goldberg Vickie Wiltshire Rabbi Eli Schoemann Lali Virdee Tamar Berman

Custodian Trustee

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

Investment Fund Manager

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

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 2024

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 2024 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 in person at least once a quarter , 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 areas of responsibility and invited to make relevant recommendations to the Board. The Board of

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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 2024 and the date of this report, the US had 56 Full Constituent Member Synagogues (2023: 56) and membership totalled 36,700 (2023: 36,800).

During the year Childwall joined the United Synagogue while Ruislip and Northwood merged. As a result, the total number of Constituent Member Synagogues remained unchanged as at year-end.

In addition, as at 31 December 2024 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 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 (2023: 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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2024: The year in review

Below are some highlights of our varied work last year.

January

Dozens of US communities took part in US Women’s Shabbat with the theme of ‘Bringing Light into the Darkness’.

Our new website went live.

The United Synagogue is powered by volunteers so we were thrilled to see them recognised at the Jewish Volunteering Network’s Awards. Wembley ’s Roy Emanuel was nominated for Volunteer of the Year and Belmont and Pinner were both nominated for Volunteer Team of the Year.

February

Crisp fans were delighted by KLBD’s announcement that many supermarkets’ own-brand Ready Salted crisps were now approved by KLBD.

March

Dozens of communities across the country ran events for our first ‘Shabbat for Israel’. Guest speakers included relatives of the victims of October 7 and hostage families.

1,000 people came together in Borehamwood to call for the release of the hostages. Borehamwood and Elstree leaders have organised weekly vigils since October 2023.

Rabbi Ben Kurzer (then of Pinner , now Golders Green ) planted the first tree in the new United Synagogue forest in Norfolk. Members have donated 1,500 trees. A grove is being dedicated in memory of the October 7 victims.

April

More than 2,900 generous people donated to our Chesed fundraising campaign raising more than £570,000 to support families who are struggling, vulnerable or lonely.

Our Wardens and Gabbaim Forum brought together 22 wardens from 19 communities.

As Iran fired hundreds of rockets at Israel, we organised two online evenings of prayer attended by more than 3,000 people.

May

We launched the English-language Matkon im Zikaron , ‘Recipes in memory’, a project in Israel dedicated to collecting and sharing recipes in memory of October 7 victims and fallen soldiers.

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We worked with ITV on a Pesach documentary titled ‘Passover UK: A Jewish Journey’, which interviewed Golders Green ’s Rabbi Sam Fromson and Rebbetzen Dr Hadassah Fromson.

KLBD were delighted to announce Bendick’s was retaining its kosher certification.

June

We were heartbroken at the passing of Melvyn Hartog z'l, Head of the United Synagogue Burial Society, after a short illness. His funeral at Waltham Abbey Cemetery was conducted by the Chief Rabbi and attended by a huge number of people. Melvyn led the Burial Society with distinction for 23 years.

July

We launched our new accessibility symbols guide, designed to break down barriers in shul for people with physical disabilities and neurodivergence. It’s the first of its kind anywhere in the Jewish community and we believe it is a first for any religion in the UK.

Tribe Israel Tour again packed in a huge amount in just a few weeks, with exciting activities and inspirational education, together with sombre reflections on the devastating impact of October 7.

We wished Mazal tov to Barnet (Silver), Belmont (Bronze), Golders Green (Silver) and Potters Bar on winning EcoJudaism awards.

Our Centre for Rabbinic Excellence introduced an ‘onboarding’ programme for new rabbinic couples, with regular training days and professional development followed by an annual review and goal-setting.

August

Tribe’s sell-out summer camps took place across the UK, with older groups enjoying memorable trips to Europe, New York and Uganda.

The first Israel Tour since October 7 was a huge success, described by one participant as “an empowering three weeks that has altered my outlook on life”.

September

Together with Gesher School we piloted a scheme in several of our shuls over the High Holy Days to enable children and adults to participate in their communities regardless of any additional needs. We made a beautiful new guide for making prayer services inclusive.

We opened our new US Chesed Hub to enable us to better support hundreds of families in need.

October

We held the first Rosh Hashanah and Yom Kippur services since October 7 with many shuls reporting significantly larger attendances as members looked to connect with their communities.

Our President, Michael Goldstein, was interviewed on BBC News as the Foreign Secretary came to South Tottenham to meet community members and hear how Jews have been impacted by October 7.

900 people attended our October 7 commemoration, including the former Prime Minister, Rishi Sunak, with more than 5,000 watching online.

Our annual Kol Nidre appeal raised more than £1m for our shuls and dozens of charities.

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November

Changes in the Autumn Budget 2024 meant the United Synagogue faced additional costs of £570,000 including national insurance contribution. Although we lobbied the government, our request to provide an exemption for charities was ignored and we may need to reduce the charitable services we offer.

Chocoholics were thrilled as Chocolate M&M’s Minis became KLBD-certified and Marathon bars (now Snickers) returned for a limited time.

The Prime Minister came to South Hampstead for kiddush to celebrate the community’s 100[th] anniversary and 40 years of dedicated service by Rabbi Shlomo and Rebbetzen Dr Lynndy Levin who are stepping down.

The United Synagogue was shortlisted as a finalist for the 2024 Safeguarding and Child Protection Association Award, in the category of ‘Outstanding Commitment to Safeguarding’.

Contributions to our ‘Lack Friday’ campaign over the Black Friday shopping weekend totalled more than 1,300 toys for families in need and hundreds of essential household items.

December

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

800 people heard released Hamas hostage Amit Sousanna share her story at two events we organised with Mill Hill and South Hampstead .

Tribe held an uplifting Gap Year Shabbaton in Jerusalem Hills with the Chief Rabbi.

We continue to pray for the safe return of all the hostages and peace for all Israel’s inhabitants.

The Office of the Chief Rabbi – 2024

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 and build relationships with the individuals in the Muslim world, leading to the signing of the Jewish-Muslim Drumlanrig Accords in January 2025.

The Chief Rabbi’s Schools Review was launched, looking at the landscape of Jewish education in the UK, in order to raise the bar of Jewish Life in the Chief Rabbi’s schools.

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

The Chief Rabbi’s Shalem Fellowship was launched, providing a framework for university students to learn Torah studies at a high level alongside their university studies.

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.

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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

In addition to our Kol Nidrei Appeal’s success, 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 in 2024.

Financial Review

Financial Results and Reserves Policy

Total income for the year ended 31 December 2024 amounted to £47.4m (2023: £49.6m). The results for the year show a deficit of £1.8m (2023: £4.5m surplus), which includes donations for capital projects and gains on property disposals. This comprises a deficit on Restricted activities of £0.17m (2023: £4.7m surplus) and a deficit of £1.7m (2022: £0.3m 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 £138.6m (2023: £140.4m). This comprised £111.8m of Restricted Funds (2023: £111.9m) and £26.8m (2023: £28.5m) 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

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Charity had free reserves amounting to £0.04m (2023: £2.8m) and total reserves of £133.6m (2023: £135m) of which £22.9m (2023: £23.9m) was unrestricted.

At the year end, the Group had a total cash balance of £6.3m (2023: £9.7m) of which £2.8m (2023: £6m) was unrestricted.

The loss this year was a result of several factors, including:

The Trustees, in the first half of 2024, took action and immediately adopted a structured and proactive strategy. The aim was to progressively reduce the Charity’s deficit year on year. This strategy integrates targeted revenue-generation initiatives with disciplined cost management. The aim is to stabilise expenditure and achieve reductions where feasible.

Implementation is already underway, and these measures are expected to deliver a meaningful narrowing of the deficit, notwithstanding the headwind created by the substantial changes in employer's national insurance costs.

The Trustees remain confident that this approach should enable the Charity to return to overall surplus generation in due course, as well as across all its areas of activity. It will thereby strengthen its financial resilience and enhance its ability to serve our communities effectively.

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 remained resilient in 2024, continuing the positive momentum from the previous year and providing a much-needed contrast to the turbulence of 2022. The United Synagogue's portfolio experienced an unrealised gain on investments of £844k (5.8%) over the year (2023: 11.1% growth). The targeted annual return for the investments managed by J.P. Morgan remains at RPI + 4% per annum over the long term (10 years or more).

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.

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Auditors

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

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.

It has been a challenging year for the Charity, with the aftermath of October 7 and, at the time of writing, Israel being at war with Iran. We have faced financial challenges posed by funding being prioritised for Israel and the significant additional tax burden from the rise in National Insurance Contributions (NICs) and the lowering of the threshold from which employers start paying NICs. This has required us to focus both on ways to raise additional income and to lower our expenditure.

After eight wonderful but challenging years – taking in COVID, the death of Her Majesty the Queen, and the horrors of October 7 – this is my final report as President of the United Synagogue. My time as President has been the most rewarding of my life outside my home. I want to thank my fellow Trustees for their dedication, and the hundreds of Chairs and Honorary Officers, Rabbinic couples, professional staff, and volunteers I have worked with over my time.

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

23 June 2025

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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.

The Trustees confirm that the financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019), as issued by the Charity Commission and the Office of the Scottish Charity Regulator.

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Independent Auditor’s Report to the Trustees of United Synagogue

Opinion

We have audited the financial statements of The United Synagogue for the year ended 31 December 2024 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 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 charity'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 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 require 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’s 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 Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

17

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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 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 noncompliance 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 non-detection 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 noncompliance with all laws and regulations.

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.

18

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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

24 June 2025

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 2024

UNITED SYNAGOGUE

SUMMARY OF INCOME AND EXPENDITURE for the year ended 31 December 2024

Operating Income:
Donations and legacies
Charitable activities
Grants received
Net gains 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		 2024
Total funds
£'000
24,163
11,415
1,032
904
9,823
47,337
(49,946)
(2,609)
329
445
(1,835)		 2023
Total funds
£'000
22,225
11,013
565
827
9,810
44,440
(45,939)
(1,499)
1,331
4,627
4,459

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 2024

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024

Note
Income:
Donations and legacies
2
Donations towards capital projects
2
Grants Received
3
Charitable activities
4
Other trading activities
5
Investments
6
Net gain on disposal of tangible fixed assets
Other
7
Total Income
Expenditure:
Raising funds
8
Charitable activities
9
Trading activities
11
Other
12
Total Expenditure
Net (expenditure) / income before (losses) / gains on investments
Net (losses) / gains on investments
13
Net (expenditure) / income for the year
Transfers between funds
14
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
funds
funds
2024
£'000
£'000
£'000
5,502
18,661
24,163
-
329
329
49
983
1,032
4,399
7,016
11,415
6,813
1,696
8,509
130
1,043
1,173
-
445
445
141
-
141
17,034
30,173
47,207
(375)
-
(375)
(15,704)
(25,489)
(41,193)
(5,393)
(1,991)
(7,384)
(825)
(169)
(994)
(22,297)
(27,649)
(49,946)
(5,263)
2,524
(2,739)
(17)
921
904
(5,280)
3,445
(1,835)
3,613
(3,613)
-
(1,667)
(168)
(1,835)
28,491
111,956
140,447
26,824
111,788
138,612		 Unrestricted
Restricted
Total
funds
funds
2023
£'000
£'000
£'000
5,009
17,216
22,225
-
1,331
1,331
14
551
565
4,672
6,341
11,013
6,724
1,551
8,275
175
1,092
1,267
1
4,626
4,627
268
-
268
16,863
32,708
49,571
(356)
-
(356)
(14,412)
(23,199)
(37,611)
(5,132)
(1,910)
(7,042)
(757)
(173)
(930)
(20,657)
(25,282)
(45,939)
(3,794)
7,426
3,632
(21)
848
827
(3,815)
8,274
4,459
3,552
(3,552)
-
(263)
4,722
4,459
28,754
107,234
135,988
28,491
111,956
140,447

Restricted funds carried forward include £68,000 of endowment funds (2023: £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

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

BALANCE SHEETS as at 31 December 2024

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		 2024
2023
£'000
£'000
125,217
121,452
7,191
8,727
132,408
130,179
221
240
3,559
3,141
4,843
8,464
8,623
11,845
(7,443)
(7,028)
1,180
4,817
133,588
134,996
-
-
110,672
110,919
22,916
24,077
133,588
134,996
Charity		 2024
2023
£'000
£'000
129,276
125,705
7,191
8,727
136,467
134,432
221
240
3,000
2,766
6,274
9,675
9,495
12,681
(7,355)
(6,666)
2,140
6,015
138,607
140,447
68
68
111,715
111,888
26,824
28,491
138,607
140,447
Group		 2024
2023
£'000
£'000
129,276
125,705
7,191
8,727
136,467
134,432
221
240
3,000
2,766
6,274
9,675
9,495
12,681
(7,355)
(6,666)
2,140
6,015
138,607
140,447
68
68
111,715
111,888
26,824
28,491
138,607
140,447
Group
134,432
240
2,766
9,675
12,681
(6,666)
6,015
140,447
68
111,888
28,491
140,447

These Financial Statements were approved and authorised for issue by the Trustees of United Synagogue on 23 June 2025

----- Start of picture text -----
Michael Goldstein Maxwell Nisner
President Treasurer
----- End of picture text -----

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

22

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 December 2024

Cash flows from operating activities
Net cash (used) by operating activities
Cash flows from investing activities
Dividends and interest received
Realised (losses) /gains on investments
Proceeds from sale of tangible fixed assets
Payments to acquire tangible fixed assets
Purchase of investments
Proceeds from sale of investments
Net cash (used) / provided 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
NOTES TO CASH FLOW STATEMENT
A. Reconciliation of cash flows from operating activities
Net (expenditure) /income for the reporting period
Dividends and net interest received
Interest paid
Depreciation expense
Loss on non-cash disposal of fixed assets
(Profit) on disposal of tangible fixed assets
Unrealised (gains) on foreign exchange
Decrease 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		 Note
A
B
Balance at
01 January 2024
£'000
5,522
4,153
9,675		 2024
£'000
(2,043)
189
(1)
1,485
(5,483)
(124)
2,581
(1,353)
(3,396)
9,675
6,279
2024
£'000
(2,739)
(231)
42
861
11
(445)
(16)
19
(234)
689		 2023
£'000
(477)
207
(1)
5,777
(3,707)
(104)
93
2,265
1,788
7,887
9,675
2023
£'000
3,632
(244)
37
810
11
(4,627)
(20)
36
(247)
135
(2,043) (477)
Cash flow
£'000
(238)
(3,163)
(3,401)		 Balance at
31 December 2024
£'000
5,289
990
6,279

23

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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.

The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Charities SORP (FRS 102), effective for accounting periods beginning on or after 1 January 2019, as issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator, The Charities Act 2011. The financial statements have been prepared to give a true and fair view and comply with the Charities SORP (FRS 102). In accordance with FRS 102 and the SORP, the Charity has departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent necessary to present a true and fair view.

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 2025 and 2026 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 as defined by FRS 102.

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 administering

24

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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:

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.

25

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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 Ballard’s 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.

26

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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.

Inventories

Inventories are valued at the lower of cost and net realisable value. Items donated for resale are not recorded as inventory 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 for services rendered during the current period, where such leave can be carried forward and used within the next six months. This provision is measured based on the salary cost payable for the period of absence, including the associated employer’s National Insurance contributions.

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.

27

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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 recognized in the Statement of Financial Activities.

28

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

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		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
2,694
-
2,694
2,640
-
2,640
-
10,248
10,248
-
9,547
9,547
(1)
7,460
7,459
-
6,897
6,897
2,809
943
3,752
2,369
762
3,131
-
10
10
-
10
10
5,502
18,661
24,163
5,009
17,216
22,225
-
329
329
-
1,331
1,331
5,502
18,990
24,492
5,009
18,547
23,556

Other donations to synagogues include £344,000 (2023: £341,000) 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")
National Lottery Heritage Fund
Other grants		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
16
-
16
14
-
14
-
977
977
-
551
551
33
-
33
-
-
-
-
6
6
-
-
-
49
983
1,032
14
551
565

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
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
-
3,296
3,296
-
3,201
3,201
3,540
-
3,540
4,046
-
4,046
-
72
72
-
72
72
210
3,132
3,342
36
2,750
2,786
490
-
490
433
-
433
-
38
38
-
43
43
96
-
96
80
-
80
63
-
63
77
-
77
-
154
154
-
120
120
-
324
324
-
155
155
4,399
7,016
11,415
4,672
6,341
11,013
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
243
-
243
174
-
174
6,512
-
6,512
6,474
-
6,474
58
1,696
1,754
76
1,551
1,627
6,813
1,696
8,509
6,724
1,551
8,275

29

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)
6.
INVESTMENT INCOME
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Rents received
82
902
984
75
985
1,060
Funeral Expenses Scheme investment income
-
136
136
-
107
107
Deposits and bank interest
48
5
53
100
-
100
130
1,043
1,173
175
1,092
1,267
7.
OTHER INCOME
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Affiliation fees
40
-
40
40
-
40
Other
101
-
101
228
-
228
141
-
141
268
-
268
8.
COST OF RAISING FUNDS
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Fund Raising
375
-
375
356
-
356
9.
COST OF CHARITABLE ACTIVITIES
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Member synagogues
-
24,884
24,884
-
22,718
22,718
Community Services Division
705
-
705
474
-
474
Jewish Education
454
-
454
282
-
282
Welfare, Young People and Young Families
2,325
-
2,325
2,449
-
2,449
Burial
3,622
-
3,622
3,560
-
3,560
Beth Din
1,012
-
1,012
953
-
953
Office of the Chief Rabbi
1,381
-
1,381
1,430
-
1,430
Rabbinic Development
150
-
150
120
-
120
Grants paid (see Note 10 below)
821
394
1,215
757
396
1,153
Central support costs and services
5,039
211
5,250
4,240
85
4,325
Communities of Potential
28
-
28
17
-
17
Willesden House of Life
167
-
167
130
-
130
15,704
25,489
41,193
14,412
23,199
37,611
2024
2023
£'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
75
73
Fees for other services: Tax advice
-
4
75
77
10. GRANTS PAID
2024
2023
The grants made during the year were:
£'000
£'000
UJIA (Kol Nidre Appeal)
216
39
University Jewish Chaplaincy
167
150
Jewish Community Academy Trust (see note 18 below)
1
150
Community Security Trust
58
4
Grant to Rabbinical Council of the United Synagogue
-
47
Grants to individuals and other charities (including distribution of Kol Nidre appeal funds)
429
422
Board of Deputies of British Jews
344
341
1,215
1,153		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
82
902
984
75
985
1,060
-
136
136
-
107
107
48
5
53
100
-
100		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
82
902
984
75
985
1,060
-
136
136
-
107
107
48
5
53
100
-
100
130
1,043
1,173
175
1,092
1,267
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
40
-
40
40
-
40
101
-
101
228
-
228
141
-
141
268
-
268
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
375
-
375
356
-
356
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
-
24,884
24,884
-
22,718
22,718
705
-
705
474
-
474
454
-
454
282
-
282
2,325
-
2,325
2,449
-
2,449
3,622
-
3,622
3,560
-
3,560
1,012
-
1,012
953
-
953
1,381
-
1,381
1,430
-
1,430
150
-
150
120
-
120
821
394
1,215
757
396
1,153
5,039
211
5,250
4,240
85
4,325
28
-
28
17
-
17
167
-
167
130
-
130
15,704
25,489
41,193
14,412
23,199
37,611
2024
2023
£'000
£'000
75
73
-
4
75
77
2024
2023
£'000
£'000
216
39
167
150
1
150
58
4
-
47
429
422
344
341
1,215
1,153

30

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)
11. COST OF TRADING ACTIVITIES
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Advertising
(2)
-
(2)
(1)
-
(1)
Kashrut
5,048
-
5,048
4,753
-
4,753
Hall hire and catering
-
1,991
1,991
-
1,910
1,910
Other
347
-
347
380
-
380
5,393
1,991
7,384
5,132
1,910
7,042
12. OTHER COSTS
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Interest and bank charges
41
1
42
37
-
37
Depreciation
784
87
871
720
90
810
Fund management fees
-
81
81
-
83
83
825
169
994
757
173
930
13. NET (LOSSES) /GAINS ON INVESTMENTS
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
Realised (losses) /gains on investments
(1)
663
662
(1)
274
273
Unrealised (losses) / gains on investments
(16)
258
242
(20)
574
554
(17)
921
904
(21)
848
827
14. TRANSFERS BETWEEN FUNDS
2024
2024
2023
2023
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)
3,717
(3,717)
3,415
(3,415)
Rents charged on properties let to communities
50
(50)
48
(48)
Profit of trading subsidiary gift-aided to Parent Charity
1
(1)
1
(1)
Reversal of prior year US Advertising profits not eligible for gift aid
163
(163)
163
(163)
Other transfers from Restricted to Unrestricted funds
680
(680)
726
(726)
4,611
(4,611)
4,353
(4,353)
Transfers from unrestricted funds to restricted funds
Losses incurred by chronic deficit Synagogues without property
(181)
181
(190)
190
Kol Nidre Appeal allocation to Communities
(500)
500
(503)
503
Advertising income for the benefit of Synagogues
(317)
317
(108)
108
(998)
998
(801)
801
Total transfers between funds
3,613
(3,613)
3,552
(3,552)		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(2)
-
(2)
(1)
-
(1)
5,048
-
5,048
4,753
-
4,753
-
1,991
1,991
-
1,910
1,910
347
-
347
380
-
380		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(2)
-
(2)
(1)
-
(1)
5,048
-
5,048
4,753
-
4,753
-
1,991
1,991
-
1,910
1,910
347
-
347
380
-
380		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(2)
-
(2)
(1)
-
(1)
5,048
-
5,048
4,753
-
4,753
-
1,991
1,991
-
1,910
1,910
347
-
347
380
-
380
5,393
1,991
7,384
5,132
1,910
7,042
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
41
1
42
37
-
37
784
87
871
720
90
810
-
81
81
-
83
83
825
169
994
757
173
930
Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
Funds
Funds
Funds
Funds
£'000
£'000
£'000
£'000
£'000
£'000
(1)
663
662
(1)
274
273
(16)
258
242
(20)
574
554
(17)
921
904
(21)
848
827
2024
2024
Unrestricted
Restricted
funds
funds
£'000
£'000
3,717
(3,717)
50
(50)
1
(1)
163
(163)
680
(680)
4,611
(4,611)
(181)
181
(500)
500
(317)
317
(998)
998
3,613
(3,613)		 2023
2023
Unrestricted
Restricted
funds
funds
£'000
£'000
3,415
(3,415)
48
(48)
1
(1)
163
(163)
726
(726)
4,353
(4,353)
(190)
190
(503)
503
(108)
108
(801)
801
3,552
(3,552)

(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 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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. STAFF NUMBERS AND EMOLUMENTS

2024
The average number of full and part-time persons employed during the year was as follows
Number
Synagogues
523
Kashrut
78
Burial
65
Other charitable activities and central support
131
797
2024
£'000
The aggregate emoluments of these persons were as follows:
Salaries
21,225
Social security costs
2,095
Pension scheme contributions
754
24,074
2024
Number
£60,001 to £70,000
14
£70,001 to £80,000
24
£80,001 to £90,000
8
£90,001 to £100,000
6
£100,001 to £110,000
6
£110,001 to £120,000
7
£120,001 to £130,000
2
£130,001 to £140,000
1
£140,001 to £150,000
-
£150,001 to £160,000
1
£160,001 to £170,000
1
£190,001 to £200,000
1
£220,001 to £230,000
-
£230,001 to £240,000
-
£240,001 to £250,000
1
72
2024
£'000
323
2024
£'000
2,493
Contributions in the year for these 72 (2023: 67) employees to defined contribution
schemes
The defined pension contributions are allocated between restricted and unrestricted
activities based upon where the individual concerned devotes the majority of their time.
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:
The total emoluments (including pension and Employer's National Insurance
contributions) paid to the Chief Rabbi, Dayanim and key executives (2024: 18
employees, 2023: 18 employees) listed on page 3 of these Financial Statements
The number of these employees to whom retirement benefits are accruing under defined
contribution schemes		 2023
Number
520
73
61
128
782
2023
£'000
19,712
1,922
664
22,298
2023
Number
19
18
5
4
7
4
4
2
1
1
-
-
1
1
-
67
2023
£'000
318
2023
£'000
2,560

During the year, redundancy payments arising from restructures totalled £155,000 (2023: £109,000), in line with FRS 102.

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 2024

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 2024 amounted to £147,963 (2023: £105,487). At the year end, the amount owed to the subsidiary from the Parent Charity was £60,612 (2023: owed to Parent Charity £149,354).

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 £36,570 (2023: £59,145). The amount owed by the subsidiary to the Charity at the year end amounted to £210 (2023: £1,117).

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 £163,746 (2023: £103,099). The amount owed by the subsidiary to the Charity at the year end amounted to £4,288,383 (2023: £4,021,538). This loan is unsecured. A provision 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 £nil (2023: £13,728) from this related charity. At the year end, the amount owed to this Charity from the Parent Charity was £10,000 (2023: £nil).

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 £129,517 (2023: £84,271) were made to the Parent Charity to support activities of Synagogues and £553,600 (2023: £698,500) to support the running costs of his office. At the year end, the amount owed by this Charity to the Parent Charity was £115,410 (2023: £79,088).

Jewish Community Academy 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 £nil grant in 2024 (2023: £150,000) providing financial support for JCAT.

Transactions with Trustees and Key Executives:

Michael Goldstein and Claire Lemer serve as Trustees of JCAT. During the year, the Charity received £89,250 in rental income for school premises in Golders Green from JCAT. Additionally, the Charity received £28,450 in income from JCAT for kashrut supervision services. The Charity also made a donation of £1,312 and purchases totalling £1,066 from JCAT during the same period. Additionally, Claire Lemer is a Trustee of Share Tzedek (UK), to which the Charity donated £547 during the year. She is also a Trustee of Kishron, from which the Charity received £895 in kashrut supervision income over the year.

The Charity's President- Michael Goldstein has an immediate family member who serves as a trustee of the London School of Jewish Studies. During the year, the Charity paid £36,113 for services provided by this organisation, with all services being entirely unrelated to the Trustee’s role. Michael Goldstein is also a Director of the Chief Rabbinate Trust (Company No. 04614285), to which the Charity paid £720 during the year in connection with a conference. In addition, he is a Trustee of The Rabbi Lord Sacks Legacy Trust (Charity No. 1152781), to which the Charity made a £100 donation during the year.

Trustee Simon Mitchell is employed by Amazon Web Services. During the year, the Charity paid £33,057 for services provided by the company, with all services being entirely unrelated to Simon Mitchell’s employment position.

Trustee Jacqui Zinkin has an immediate family member who serves as a councillor at Barnet Council. During the year, the Charity paid £33,976 for services and £44,399 for rental expenses to Barnet Council, with all services being entirely unrelated to Jacqui Zinkin. She, along with Michael Goldstein, is a Trustee of the King Solomon High School Charitable Trust, to which the Charity paid £1,800 during the year for services provided.

Trustee Maxwell Nisner is a Trustee of the Western Charitable Foundation ("Western"). During the year, the Charity paid £37,436 (2023: £41,390) to Western in respect of member funerals held in cemeteries operated by Western, with all services being entirely unrelated to the trustee.

Key Executive Jo Grose is a Member and Trustee of Yavneh College Academy Trust ("Yavneh"). During the year, the Charity paid £60,000 (2023: £60,000) to Yavneh as rental payments for the use of premises on Shabbat and Festival days, as well as £1,750 in donations, with all services being entirely unrelated to the executive.

Key Executive David Collins serves as a Governor of JFS School. During the year, the Charity made a purchase of goods totalling £600 from the school, with all transactions being entirely unrelated to David Collins’s role, with all services being entirely unrelated to the executive.

Key Executive Tamar Berman has an immediate family member who is a trustee of Lubavitch MAT. During the year, the Charity donated £1,800 to this entity, with all services being entirely unrelated to the executive.

All Trustees and the majority of Key Executives listed on page 2 are members of the United Synagogue. As part of their membership, the Charity has received annual subscriptions and donations from these individuals, their spouses, and other immediate family members. The total amount donated by them during the year is estimated to be below £30,000.

33

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. ASSETS

19.1 : TANGIBLE FIXED ASSETS

Charity
Cost / valuation
At 1 January 2024
Additions during the year
Less: Disposals during the year
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
Less: Disposals during the year
At 31 December 2024
Net Book Value 31 December 2024
Net Book Value 31 December 2023
Group
Cost / valuation
At 1 January 2024
Additions during the year
Less: Disposals during the year
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
Less: Disposals during the year
At 31 December 2024
Net Book Value 31 December 2024
Net Book Value 31 December 2023		 Freehold and
Long
Motor
Fixtures,
Fittings &
I.T.
Total
Leasehold
Vehicles
Equipment
Equipment
£'000
£'000
£'000
£'000
£'000
125,414
1,100
2,901
1,668
131,083
5,578
15
89
-
5,682
130,992
1,115
2,990
1,668
136,765
(1,261)
(61)
(20)
-
(1,342)
129,731
1,054
2,970
1,668
135,423
4,584
942
2,437
1,668
9,631
441
55
160
-
656
5,025
997
2,597
1,668
10,287
-
(61)
(20)
-
(81)
5,025
936
2,577
1,668
10,206
124,706
118
393
-
125,217
120,830
158
464
-
121,452
Freehold and
Long
Motor
Fixtures,
Fittings &
I.T.
Total
Leasehold
Vehicles
Equipment
Equipment
£'000
£'000
£'000
£'000
£'000
129,804
1,104
3,199
1,668
135,775
5,368
19
96
-
5,483
135,172
1,123
3,295
1,668
141,258
(1,051)
(61)
(20)
-
(1,132)
134,121
1,062
3,275
1,668
140,126
4,863
941
2,598
1,668
10,070
567
55
239
-
861
5,430
996
2,837
1,668
10,931
-
(61)
(20)
-
(81)
5,430
935
2,817
1,668
10,850
128,691
127
458
-
129,276
124,941
163
601
-
125,705

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.

19.2 : HERITAGE ASSETS

The United Synagogue holds silverware and Sifrei Torah, comprising Torah scrolls and ornamental gold and silver adornments. These items are held primarily for their religious and cultural significance and are treated as heritage assets in accordance with FRS 102 Section 34. As reliable cost or valuation information is not available, they are not recognised on the balance sheet. The majority are securely stored at synagogues and are infrequently used. Given the nature of these items and their limited use, the cost of obtaining a formal valuation is considered to outweigh the benefit for financial reporting purposes.

34

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued) 20. INVESTMENTS

Market value at 1 January
Net monies invested (less withdrawals)
Cash withdrawn
Management fees charged to capital
Realised gains on investments
Unrealised gains 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
LSE Quoted investments
21. INVENTORIES
Publications
Funeral requisites
22. DEBTORS
Trade debtors
VAT
Accrued income
Prepayments
VAT
Other debtors
Loans to employees
Amounts due from subsidiary undertakings
23. CASH AT BANK AND IN HAND
Bank deposits maturing in less than one year
Cash at bank		 2024
2023
£'000
£'000
8,727
7,868
124
104
(2,500)
(10)
(81)
(83)
663
274
258
574
7,191
8,727
5,597
7,453
2024
2023
2024
2023
£'000
£'000
£'000
£'000
56
54
120
54
2,872
4,000
4,318
5,214
2,036
2,520
2,033
2,467
-
69
-
74
566
744
693
811
-
-
(37)
38
11
10
11
11
56
56
53
58
Market Value
Charity and Group
Cost		 2024
2023
£'000
£'000
8,727
7,868
124
104
(2,500)
(10)
(81)
(83)
663
274
258
574
Charity and Group
7,191
8,727
5,597
7,453
5,597
7,453
7,191
8,727
2024
2023
2024
2023
£'000
£'000
£'000
£'000
189
206
189
206
32
34
32
34
Group
Charity
221
240
221
240
2024
2023
2024
2023
£'000
£'000
£'000
£'000
1,546
1,221
1,589
1,233
-
-
(4)
-
577
664
662
668
481
626
487
636
-
-
-
1
262
207
262
207
4
21
4
21
689
402
-
-
Charity
Group
3,559
3,141
3,000
2,766
2024
2023
2024
2023
£'000
£'000
£'000
£'000
318
3,783
990
4,153
4,525
4,681
5,284
5,522
Group
Charity
4,843
8,464
6,274
9,675

35

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

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)		 2024
2023
2024
2023
£'000
£'000
£'000
£'000
152
1,149
236
1,213
596
565
596
565
192
125
192
127
620
389
629
391
2,070
968
2,097
985
3,459
3,385
3,605
3,385
354
447
-
-
Group
Charity
7,443
7,028
7,355
6,666
Balance at
Prior year
Current year
Balance at
01 January 2024
releases
deferrals
31 December 2024
£'000
£'000
£'000
£'000
335
(335)
506
506
2,721
(216)
369
2,874
223
(223)
-
-
7
-
-
7
67
(204)
183
46
16
(15)
25
26
16
(32)
16
3,385
(1,025)
1,099
3,459

(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
01 January 2024
Other Funds
31 December 2024
£'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 2024

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-24
Resources
Expended
(see note 14)
31-Dec-24
£'000
£'000
£'000
£'000
£'000
97,032
25,780
(27,307)
733
96,238
13,639
4,345
(81)
(3,717)
14,186
248
-
-
-
248
110,919
30,125
(27,388)
(2,984)
110,672
33
-
-
-
33
277
22
(3)
(1)
295
659
943
(259)
(628)
715
969
965
(262)
(629)
1,043
111,888
31,090
(27,650)
(3,613)
111,715
68
-
-
-
68
111,956
31,090
(27,650)
(3,613)
111,783

(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 enables members to contribute a small annual amount, in addition to their Synagogue membership subscription, to ensure their funeral costs are covered in due course. Upon a member’s passing, a designated sum is transferred from restricted to unrestricted funds to reflect the fulfilment of this commitment.

(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
01 January 2024
Resources
Expended
(see note 14)
Loan (g)
31 December 2024
£'000
£'000
£'000
£'000
£'000
£'000
(see below)
24,037
16,736
(21,509)
3,612
22,876
40
-
-
-
-
40
24,077
16,736
(21,509)
3,612
22,916
160
243
(249)
-
-
154
1,237
-
-
-
-
1,237
3,012
58
(558)
-
-
2,512
5
37
(37)
-
-
5
28,491
17,074
(22,353)
3,612
-
26,824

(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, to aid various communities, for educational purposes, for tagging Sifrei Torah and other valuables.

(c) The resources expended by US Advertising Limited include £147,963 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 in 2017

(e) The accumulated deficit includes pre- trading expenditure

(f) The resources expended by United Synagogue Design & Build Limited include £210 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 2024

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		 2024
2024
2023
2023
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
26,945
102,331
25,271
100,434
-
7,191
-
8,727
2,776
3,498
6,003
3,672
2,717
504
2,560
446
(2,155)
(1,596)
(1,958)
(1,323)
(3,459)
(146)
(3,385)
-
26,824
111,782
28,491
111,956
2024
2024
2023
2023
Unrestricted
Restricted
Unrestricted
Restricted
funds
funds
funds
funds
£'000
£'000
£'000
£'000
22,912
102,305
21,032
100,420
-
7,191
-
8,727
2,540
2,303
5,729
2,735
3,361
419
2,946
435
(2,438)
(1,549)
(2,468)
(1,175)
(3,459)
-
(3,385)
-
22,916
110,669
23,854
111,142

Endowment fund net current assets of £68,000 (2023: £68,000) are included in restricted funds in the Group of which £nil (2023: £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 Ballard's 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 2024

NOTES TO THE FINANCIAL STATEMENTS (continued)

30. SUBSIDIARY COMPANIES (continued)

US Youth US US Design Total Total
United Central Charity CRT Advertising & Build 2024 2023
Company number 11279144 02033941 04614285 02146769 06797965
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Total income 57 22 943 243 37 1,302 1,408
Total costs (556) (4) (885) (95) (37) (1,577) (1,484)
Gross (deficit) / surplus (499) 18 58 148 (0) (275) (76)
Gift aid payment to Parent charity - - - (148) (0) (148) (197)
(Deficit) / surplus for the year (499) 18 58 - (0) (423) (273)
Retained (deficit) / surplus b/f (989) 279 655 132 - 77 794
Retained surplus/ (deficit) c/f (1,488) 297 713 132 (0) (346) 521
Gross assets at 31 December 2,803 300 987 216 5 4,311 5,043
Gross liabilities at 31 December (4,291) (3) (274) (84) (5) (4,657) (4,522)
Reserves at 31 December (1,488) 297 713 132 (0) (346) 521

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
2024
2023
£'000
£'000
896
828
971
1,359
307
462
2,174
2,649

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
2024
2023
£'000
£'000
648
422
520
566
523
148
1,691
1,136
2024
2023
£'000
£'000
934
934

39

UNITED SYNAGOGUE Trustees’ Report and Annual Accounts year ended 31 December 2024

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.

statements.
Contracts placed:
Chigwell Synagogue: redevelopment		 2024
2023
£'000
£'000
-
180
-
180

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 Ballard's Lane, London N12 8GB.

40

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

MEMBER SYNAGOGUES

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

AFFILIATED SYNAGOGUES AND ASSOCIATE SYNAGOGUE

Catford & Bromley Chelsea Peterborough Romford & District Western Marble Arch

Hemel Hempstead Staines & District

41

Trustees’ Report and Annual Accounts year ended 31 December 2024

UNITED SYNAGOGUE

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