JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL AND THE MIDDLE EAST FINANCIAL STATEMENTS 30 SEPTEMBER 2022 Charity Comml88ion Registration No: 256689 HAYSMACINTYRE LLP Chartered Accountants 10 Queen Str8et Place London EC4R 1AG JE￿8m PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST CHARITY REGISTRATION NUMBER 256689 ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 CONTENTS PAGE Trust88's Report Statement of Financial Activit188 Balance Sheet Notes the Accounts 8-14 Independent Auditors, Report 15-17 JEMSH PHILAMfHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST CHARITY REGISTRATION NUMBER 256689 ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 CORPORATE TRUSTEE.. United Jewish18rael Appeal (UJIA) R•present•d by: EXECUTIVE COMMrrrEE'. CHAIRMAN: Louise Jacob8 HONORARY TREASURER Brian May MEMBERS Rafi Addlestone {re8igned 19 January 2023) Melvin Berwald Karen Goodkind Steven Kaye Marc Lester Brian May Hilton Nathanson Steven Noe {appointed 13 December 20221 David Pliener Miles Webber Nicl Wertheim PRINCIPAL ADDRESS.. 4th Floor, Amelie House 221 Golders Green Road London NW119DQ SOLICITORS.. Farrer & Co 66 Lincoln's Inn Fleld6 London WC2A 3LH BANKERS: Barclays Bank PIC 54 Lombard Street London ECV 9EX AUDITORS.. Haysmacintyre LLP Chartered Accountants 10 Queen Streel Place London EC4R 1AG JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST REPORT OF THE EXECUTIVE COMMITTEE INCLUDING THE STRATEGIC REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 MISSION STATEMENT Our vision is that future generations of Jews will be safe, proud and knowledgeable members of the Jewish people, commrtted to their unique herrtage and the etemity of Israel. Our mission is to secure the future of Jewish life by mobilising the UK Jewish community to support the rescue of Jews in need throughoul the world and their absorption in Israel, and our strategic inteNentions in Isra81, where our focus is on enabling vulnerable young people lo achieve their potential as individuals and to participate in community life. HIGHLIGHTS OF THE YEAR Voluntary income in the year, including legacies, was £416,000 (2021- £57,000). The Charty continue8 to receive legacy income. The level of 8uch Income 18 not predictable. However, it 18 SLrfli¢ient to allow the Charity to develop a creative programme In line with its charitable and strategic objectives. A series of action plans h88 been developed to assist the board in monitoring implementation of the above objectives. They will be under continuous review to ensure that they remain viable in the light of any signrficant extemal or internal factors. PRINCIPAL OBJECTIVES AND ACTIVITIES OF THE JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST I'JPAIME'I The constitution of the JPAIME sets out the following charitable activities to be carried out for the public benefit in the State of Israel and in any of the territories in the Near or Middle East.. (a) To relieve or 88SiSt in the relief of the needy, the old, the sick. the maimed, the wounded and th08e who are physically or mentally handicapped. Ib) To protect children from cruelty or Suffering. (c) To relieve or 8881st in the relief of necessitous immigrants. (d) To advance or propagate education generally or in particular subjects (other than education of a kind not charitable according to the law of England). (e) To carry on other activitie8 as are charitable according to the laws of England. The Trustee has had due regard to the Charity Commission's guidance on public benefit when considering the Charity's objectives and activities. STRATEGIC AIMS AND PLANS FOR THE FUTURE The Charity's Executive Committee has ratified a Strategic Plan, which sets out the objectives for the Charity to ensure that whilst remaining faithful to it8 original objectives, the Charity Is in a position to develop n8W Opportunities. The Charity's main objedives are to invest in young people and education in Isra81. CONNECTED CHARITIES On 31 March 1998, the Charity agreed to amalgamate with the United Jewish Israel Appeal ('UJIA° formerly the Joint Jewish Charitable Trust) (registered charity no.. 1060078) by the transfer of their activities and properties to that Charity. Thereafter, the UJIA became sole corporate tnjstee for the Charity. This agreement. and the appointment of th8 UJIA as sole JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST REPORT OF THE EXECUTIVE COMMITTEE INCLUDING THE STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 trustee, did not estsblish the Charty as 8 special trust or branch ofth8 UJIA. As a result, individual accounts Gontinue to be presented. The objects of this Charity were incorporated into the Articles of the UJIA in order to ensure that the specific work of this Charily would be continued through the new arrangements FINANCIAL OUTCOME FOR THE YEAR Total income in 2021-22 was £443,000 compared with £69,000 in 2020-21. Total expenditure in 2021-22 wa8 £11,000 compared wth £{132,0001 in 2020-21. The allocation of fund8 is Shown at Note 8 to the Finanaal Statements. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION The Charlty was established as an unincorporated association on 10 July 1968. MEMBERSHIP Th8 Charity is controlled by a Corporate Trustee, whleh 18 represented by an Executive Committee. The Executive Committee defines the membership (Yiteria for member8 ofthe Charity who in tum elect the Executive Committ8e at an Annual General Meeting. EXECUTIVE COMMIThEE The Executive Committee Is responsible for the policy decisions of the Charity, and, within the framework of the constitution, the Executive Committee is empowered to make arrangements for the management and administration of the Charity through the appointment of a Chief ExecutlV6 Officer and other profe88ional staff. The Trust Deed provides that the Trustee shall deal with the propety and assets of the Charity in accordance with the directions of the Executive Committee nohvithstanding the provisions of the Trustee Investments Act 1961 {now repla￿d by the Trustee Act 2000). New members of the Executive Committee are Go-opted by existing members to maintain or augment the range of skills and experience appropriate to the needs and activities of th8 Charity and subsequently proposed for election by the Members at the AGM. On appointment, new members ofthe Executive Committee are provided with appropriate Charty Commission guides, a copy of the Constitution, a full set of the Charity's policies, the current Strategic Plan, the latest Slatutory Accounts and an outline of their duties and responsibilities. New members meet with the Chief Executive to undertake an induction process. JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST REPORT OF THE EXECUTIVE COMMIThEE INCLUDING THE STRATEGIC REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 FUNDIIAISING APPROACH AND PERFORMANCE The Charity does not cary out any fundraising activitie8. INVESTMENT POLICY AND PERFORMANCE The Charity does not hold funds for investment GRANT MAKING POLICY The Charity distribut8s funds in fuifilment of its aims as expressed in its Mission Statement. Funds are allocated towards the rescue of Jews from around the world and their absorption Into Israel, through sUPPOrt of educational. welfare and other humanitarian project8. All grants given are monitored closely and, when material, are subject to written report8 and 8lte visits. JPAIME RISK STATEMENT The risks of JPAIME are managed through the detailed risk management process of UJIA. The process outlines all the key risks of the Charity, ￿levant control procedures, responsibilities and futur8 actions to be taken. Monitoring of risk has now become embedded within the overall agreed procedure8 of the UJIA. The Trustees of UJIA are satisfied that all the major risks to which the Charity is exp088d are being reviewed and systems of intemal control are being established to mFtigate those risks. It is recognised that systems rAn only provide reasonable but not absolute assurance that major risks have been adequately managed. Th8 budget has been reviewed as a result of the Covid-19 pandemic. INhile tt is lrnpossible lo provide certainly in the cUr￿nt situation, th8 JPAIME'S main ¢ommitment is to the Final Salary Pension Scheme. The Trustee. having consulted with the Trustees of the Pension Scheme, considers that Ihere are adequate funds to meet the Charity's Commitments going forward. RESERVES POLICY The Trustee considers that th8 inflow of income on an annual basis will be sufficient to cover any financial commitments that may arise. and therefore that there is no current need lo increase the amount of free reserves. Any assets retained will be solely for the purpose of generating income to cover any distribution policy that the Trustee may fomulate in the future. The Trustee ha8 established a committee to consider the distribution of funds. The restricted funds balance will be paid over to UJIA once all monies receivable have been collected. At 30 September 2022, unrestricted funds stood at £2,272,000 (2021: £1.840,000). This balance is after making a provision for the pension deficit funding arrangement in relation to the Charity's multi-employer defined benefit scheme. The Executive Committee will continue to review the level of reserves to ensure that the pension deficit is covered and that any surplus funds will be used effectively io promote the objectives of the Charity JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDOLE EAST REPORT OF THE EXECUTIVE COMMirrEE (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 TRUSTEE'S RESPONSIBIUTIES The TTu8toe18 re8pon8ible for preparing tha Annual Roport and th6 financjal 8tatements In accordance wllh applicable law and United Kingdom Genèrally Accepted Ac¢ountlng Practic8 (United Kingdom Accounting Standards). Thg law appllcable to charilies in England and Wal88 requlres the Trustee to prepare flnanclal statements for each financlal year whlch glve a true and fair view of th8 state of affairs of the Charity and of the incoming resources and application of re80urc•• of the Charity for that period. In preparing the8e fmanoal 8tat6ment6, the Tru8tee18 requirad to: • 8818Ct 8ullable accounting polici88 and then apply them consl8tently; • observe th8 mothod8 arKI prlnclples In the Charltle6 SORP,, make Judgments and 88timate$ that are rea80nabl8 and prudent. • slate whether appliGable a¢¢ounllng 8tandard6 have b88n followed, subject to any materlal departures dl8¢108ed arKI 6xplaSned In the financial 8tatement8- prepare the financial 8tat8m8nt8 on th8 golng concern ba818 unle88 It18 Inapproprlate to pre8ume that the charlty wlll contlnue In buslness. The TruBt8è18 ré8ponsibl8 for keeplng Adequate accounting record8 that are sufficient to •how and explaln the Charlty'8 tr8nsactlon6, disclose with r8a8onabl8 accuracy at any timo the Ilnancial po8ltlon of the Charity and 8nable them to ensure that the flnandal Btatement8 compty wlth the Charttles Act 2011. the Chaiities (Account8 and Reports) Regulatlons 2008 and the provlslon6 of th6 charlty'8 con8tllutlon. Tha Tru6toe 18 also re8ponstble for safeguarding the assets of the Charlty and hence lof taklng rea80nabl8 Steps for th8 w8V8ntlon and detection of fraud and other Srregularitle8. So far a8 the Trustee at the date of thi8 report18 aware. Ih8re18 no r818vant audll Infomiatlon of whlch the Charlty'8 auditor 18 unaware. The Tru8tee ha6 taken all the step8 that ought lo have been takan 88 0 Iru8t8e In order to become aware ol any relevant audtt Information and to e8tab118h that th8 Charfty'8 audftor18 aware of that Infom)atlon. AUDrroRS Hay8maclntyrn LLP have Indlcated thdr wlllingn088 to be reappolnted a8 8latutory audltor. Approved by Ihe Execut￿ Cornmltlee on 18 May 2023 and 8igned on It8 behalf.. Loulse Jacob Tru8tee JEWISH PHILAMfHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Unrestricted Funds Notes £'OOO Restrlcted Funds £'ooo Total 2022 £'ooo Total 2021 £'ooo INCOME AND EXPENDITURE Income from: Voluntary income - donatlons & tax refund8 Voluntary incom8- legactes Investment income 407 27 407 27 49 Total Income 443 69 Exp•ndltur• on: Fundrai8ing Charrtable activrtles (200) 68 Total •xpendltur• 11 11 (132) Not Income for tho yoar Funds brought forward at 1 October 2021 432 432 201 1,840 1,639 Funds carried forward at 30 September 2022 2,272 2.272 1,840 There are no gain8 OT1088e8 Other than as shovm above. All activities are continuing. Comparative figures for restricted and unrestrict8d income and expenditure for the Statement of Financial Activrties are shown in note 9. jE￿SH PHILANTHROPIC ASSOCIAnoN FOR ISRAEL & THE MIDDLE EAST BALANCE SHEET AS AT 30 SEPTEMBER 2022 30-SgP 2022 £'ooo 30-S•p 2021 Notes £'ooo CURRENT ASSETS Debtor8 Cash at bank and in hand 3,075 2,258 587 3,078 2,843 CREDITORS: amounts falllng due V*rythin one year 206 NET CURRENT ASSETS 2,872 2,637 CREDITORS: Amounts falling dua after one year- penslon acGrual 11 1800) (797) NET ASSETS 2,272 REPRESENTED BY: Unra8trtcted fund8 Restrlcted fund8 2,272 1,840 2,272 Approved by the Ex8cullve Commlttée and authorlsed for188ue on 18 May 2023 and 81gn8d on their behalf: Lou18e Jacob8 BrSan Moy /b4 Th8 note3 on pages 8 to 13 form part of th￿8 financial statements JE¥VISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS 30 SEPTEMBER 2022 ACCOUNTING POLICIES al Statsment of compliance and Basls of Accountlng The financial statements are prepared under the historical cost convention which is consistent with the prior year. The format of the financial statements has be8n presented to comply with the Charities Act 2011, FRS102 The FinanGial Reporting Standard applicable in tho UK and Ireland and the Statement of Recommended Practice Accounting and Reporting by Challties {'SORP 2019°). The Charity is Public Benefit Entity as defined by FRS102. b) Golng concern As highlighted in the report of the Executive Committee, having a88888ed the Charity's financial position, its plan8 for the foreseeable future and the risks to which it is exposed, the Trustees are satisfied that it remains appropriate to prepare the financial statements on the going Concern basis. They do not consider the impact of the CorKJ-19 pandemic will be substantial for the Charity since il has more than sufficient funds to meet its liabilities. c> Genoral Informatlon The Charity is registered in England and Wales {charity numb8r'. 256689) The Charity's registered office address is 4 Floor Amelie House,221 Golders Green Road, London, NW119DQ. d) Income Income is included in the Statement of Financial Activlties when the charrty is legally entilled to the income, receipt is probable and the amount can be measured reliably i) Donation income Is typirAlly accounted for on a receipts ba81S. ii) Income from Gift Aid is recogni$ed on an accruals basis, in line with the recognition of the underlying donation. iii) Pecuniary legacies are recognised onc8 probate has been granted and notification of entitlement has been received. Residuary legacies are recognised when probate is granted and Ihere is sufficient information to value th8m and any conditions attached to the legacy are either within the Gontrol of the charrty or have been mel. iv) Inter8St received is account8d for on an accruals basis. e) Expondlturo Expenditure is recognised a8 800n as the related liability is incurred and has been classified under headings that aggregate all cost8 ￿lating to that category. Liabilities are recognised as soon as there 18 8 legal or constructive obligation committing the Charity to the expenditure. Employment benefits, including holiday pay, are recognised in the period in which they are eamed. Temiination benefits a￿ recognised in the period in which the decision is made and communicated to the relevant employe6(81. Expenditure on raising funds comprises trading Costs. fundraising costs and finance costs. Finance costs comprlse interest payable. JEWISH PHILANTHROPIC ASSOCIAnoN FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 30 SEPTEMBER 2022 Expenditure on charitable activities comwlses Charitable grants in respect of Israel programmes Sundry Welfare payments Restricted fijnd expand￿Ure repr88ents funds passed on to other organisations in satisfaction of the specific criteria under which they were raised. Support costs represent indirect costs relating to raising funds and the Charity's charitable activities. Support costs, including govemance costs, a￿ allocated to activities on bases that repres8nt the Trustees, best estimate of actual use. Governanc8 costs comprise the costs of running the charity, including strategic planning for its futu￿ development, auditors, remuneration, c8rtain legal costs and all Costs of complying with constitutional and statutory requirements, such as costs of Board meetings and of p￿paring the stalutory accounts. In accordance with the provisions of SORP 2021, governance costs are now included within support costs. Staff costs are allocated according to the functions of staff as V￿11 as an estimate of the time spent by them in promoting the programmes of the Charity, Financlal In8trumont8 Basic financial instruments transactions that result in the recognition of financial assets and liabilities likè trade and other accounts receivable and payable are accounted for on the following ba818'. Cash and cash equiv81ents Cash and cash equivalents includes cash in hand, d8POSits held at banks, other short- temi highly liquid investments with orlginal maturities of three months or less and bank overdrafts. Bank overdraft8, when applicable, are Bhown within current liabilities. Deblors and creditors Debtors and creditors are measured at the transaction price less any provi8ion for impaiment. Any1088es arising from impaimient are recognised 88 expendlture. Bank bOrn0￿ngS Liabilities for borrowings which are subject to a market rate of interest are measured al the value of the amount advanced, less capital repayments. g) Penslons Contributions to the Zionist Federation Staff Pension Scheme {ZFSPS) defined contribution pension Scheme and to employees, personal pension8 are recognised as expenditure when they fall due. The ZFSPS is a multl-8mployer defined benefrt scheme for whlch the Charity's share of the underlying assets and liabiliiies cannot be separately identified. Thi$ scheme is therefore accounted for as a defined contribution scheme in accordance with section 28 of FRS102. The scherne is a defined benefit scheme in accordance with sedion 28 of FRS102. Service costs, curtailments, settlement gains and losses, net financial retums and re- measurement gains and losses are included in Ihe Statement of Financial Activities of the scheme in the year to which they relate. JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (cO￿riNuED 30 SEPTEMBER 2022 Changes in the assets and liabilrties of the scheme in the year are disclosed and allocated as follows-. Change8 relating to current or past s8rvlce cost5 and galns and losses on settlements and curtailments and pension finance costs arising from changes in the net of the interest costs and exp8Cted retum on 8$8ets, are allocated to the relevant activity h8ading based on Staff costs of employees within the scheme. Pension finance Charges arising from similar changes are recogni8ed a8 outgoing resources. Re-measurement gain8 and losses ari8ing are recognised as other recognised gains and losses. The assets, liabillties and movement$ in the surplus or deficit of the scheme are calculated by qualified independent acluaries as an update to the latest full actuarial valuation. Details of the scheme as8et8 and liabilitles and major assumptions are shown in note h) Taxatlon As a registered charsty, no tax 18 payable on income. Fund• General funds comprise the accumulated 8urplu8 or defictt from the Statement of Financial Activities which is not restricted nor designated funds. They are available for use at the discretion of the TNstees in furtherance of the general objectives of the Charity. Designated fund8 comprise funds that have been set aside at the discretion of the Trustees for specific purpo8e8. The purpose and use of the dèsignated unrestricted fund8 are set out in the notes to the accounts. Restricted income funds comprise unexperKl8d balances of donations and grants held in trust to b8 applied for specific purposes. i) Grants payablg Grants payable are charged when the offer is conveyed to the reejpient and all the condilions attaching to these grants are fulfilled. In the case wher8 grants payable are dep8ndent on donations re￿1Vable, the grant payable does not become 8 commitment until the donation is received. 10- JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED 30 SEPTEMBER 2022 CHARITABLE ACTIVITIES Unrestricted Funds 2022 £'ooo Restricted Funds 2022 £'ooo Total Funds 2022 £'ooo un￿strICted Funds 2021 £'ooo Restricted Funds 2021 £'ooo Total Funds 2021 £'ooo Grants to United Jewish Israel Appgal 75 75 Support Costs including Pension costs {see Note 4) 11 12071 12071 11 11 1207 75 11321 Included in Support c¢)sls are audrt fees of £2k (2021- £2k) TOTAL EXPENDITURE Staff Costs 2022 £'ooo Other Costs 2022 £'ooo Total Cost8 2022 £'ooo Staff Costs 2021 £'ooo other Costs 2021 £'ooo Total Costs 2021 £'ooo Charitable Activities Fundraising costs (9) 77 68 1200} {200) 11 {209) 77 1132) 11 JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 30 SEPTEMBER 2022 STAFF COSTS 2022 £'ooo 2021 Staff costs comprise the following: Special pension contributions Past service pension contributions (229) 20 (209) The av8rage number of stsff during the period was Nil (2021.. Nil). Special pension contributions are in relation to deferred members of the Zionist Federation Staff Pension Schem8. Past service pension contributions relate to former employees not covered by pension legislation. These are explained In note 10 b810w. EXECUTIVE COMMITTEE'S EMOLUMENTS No remuneration or re-imbursement of expen888 wa8 pald to the Executlve Committee for their servlces to the Charity. DEBTORS 2022 £'ooo 2021 £'ooo Amounts due from United Jewish Israel Appeal Arxrued income 2,636 439 2,024 232 3,076 2,258 The movement8 In the year related to transfer of funds to UJIA for funds to earn collectively a higher rate of interest and pension contributions paid. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £'ooo 2021 Pension deficit redudion contribution8 (note 10) Other creditors 204 206 206 12- JEWISH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEIIIENTS (CONTINUED 30 SEPTEMBER 2022 ALLOCATION OF FUNDS Unrestrcted Restricted Total Funds Funds Funds 2022 2022 2022 £'o £'ooo £'ooo Un￿StrICted Restricted Funds Funds 2021 2021 £'ooo £'ooo Total Funds 2021 £'ooo Net current assets 2,272 2,272 1,840 1,840 Restricted funds comprise funds provided by the donor for a specific purpose or in support of a specific project. A8 noted In the Trustee Report, all restricted funds will b8 transferred to UJIA once funds have been received. Unrestricted fund8 comprl8e general donations which can be used at the discretion of the Trustee in accordance with the general aim8 and objectives of the Charity. 9. COMPARATIVE FIGURES FOR PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES Unre8triGted Funds £'ooo R88trScted Funds £'ooo Total 2021 £'ooo INCOME AND EXPENDITURE Income from: Volunlary income - donation8 Voluntary income- legacie8 Investment income (7) 49 11 Total Incom• 76 (7) 69 Expondltur• on: Fundraising Charitable activities (200) (7) (200) 67 75 Total eX￿ndIture (207) 75 (1321 Net Income for tho yoar 283 (82) 201 Funds brought forward at 1 October 2020 1,557 82 1,639 Funds carried forward at 30 September 2021 1,840 1,840 13- JE￿SH PHILANTHROPIC ASSOCIATION FOR ISRAEL & THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED 30 SEPTEMBER 2022 10. PENSION SCHEME COSTS The Charity participat8s in a multiaemployer final salary pension scheme, the Zionist Federation Staff Pension Scheme ("ZFSPS"). As a result, it is not possible to identify the assets and liabilities of the scheme that are attributable to the Charity. The Charity also provides pensions for other pensioners who are not covered by formal pension arrangements. The last report by the actuary Covered the p8riod to 6 April 2021. The valuation report stated that the market value of the entire scheme'5 assets was £12,608.000 and that this represents 87% of the funding level required by the scheme. The report recommended a normal Contribution rate of 440/0 for employers. The charrf(y has recognised a provision in these financial slatements, for additional Special (deficit reduction) contribution$ to cover a potential deficit in the ZFSPS. The 8mount recognised is the net pres8nt value of the deficit reduction Gontribulions payable under the agreement relating to the deficit. The present value is calculated using a discount rat8 of 1 Oh. which represents the interest rate available to the charity rounded up to the nearest whole per cent. The movements on the provision are.. 2022 £'ooo 2021 £'ooo Provision at start of period Deficit contributions paid Unwinding of discount factor 1,001 (204) 1,469 {239) 2291 1,001 804 Split as follows.. Due within one year Due after one year 204 797 600 804 1,001 Other organisations also contribute to the deficAt funding ag￿ernent and the net present value of their contributions has been included in these accounts. The liability is shared with the United Jewish Israel Appeal {"UJIA°) which is responsible for funding the pensions of those employees who became employees of UJIA when the Charity started operations in January 1997. The payment against the provision in the accounts represents contributions payable to the ZFSPS fund of £21)4,000 (2021: £204.000). Charges forthe year are shown in nol8 4 above. 14- Independent auditorfs rnport to the trustee of Jewl8h Philanthropic Associatlon for Israel & the Middle East Opinion We have audited the financial statements of Jewish Philanthropic Association for Israel & the Middle East for the year ended 30 September 2022 which comprise Ihe Slatem8nt of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting poli¢i85. 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 Financi81 Reporting Standard applicable in the UK 8nd Republic of Iraland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charity's affalrs as at 30 September 2022 and of the charity's net movèment in funds for the year then ended., hav@ been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Ba81s for oplnlon We hav8 been appointed as auditor under seGtion 144 of the Charitie8 Act 2011 and report in accordance with the Act and relevant regulations mad8 or having effect thereunder. We condu￿ed our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)} and applicable law. Our responsibililies under thoBe 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statemen18 in the UK, including the FRC'8 Ethical Standard, and we have fulfilled our other ethical responsibilitieB in accordance with these requirements. We believe that the audit evidence we have obtained 18 sufficient and appropriate to provide a basis for our oplnlon. Concluslon8 relatlng to golng concern We have nothing to ￿pOrt in respect of the following matters In relation to which the ISA8 (UK) require us to report to you where.. the trustees, use of the going Concern basi8 of accounting in the preparation of the financial 8tatementS 18 not appropriate., or the trustees have not di8c105ed in the financial statements any identified material uncertainties that may ca81 significant doubt about the charity's ability to continue to adopt the going concern ba81$ of accounting for a period of at least twelve months from the date when the financial statement8 are authorised for i88ue. Other lnfom7allon The trustees are ￿spOnsible for the other infomiation. The other information comprises the information included in the Report of the Executive Committee. Our opinion on the financial statements does not cover the other information and, except to the extent othe￿1$e explicitly stated in our report, we do not expre88 any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility 18 to read the other infomiation and, in doing so, consider whether the other infom)8tion is materially inconsistent with the financial statements or our knowledge obtained in the audit or othenNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether there is a material misstat8ment in the financial statements or a material misstatement of the other information. If, based on the work w8 have perfomed, we condude that the￿ 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 whlch we are requlred to report by excèptlon We have nothing to report in reS￿ct of the following matters in relation to whith the Charitie8 (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion= 15- Independent audltor's report to the trustse of Jewlsh Phllanthroplc A$$ociatlon for Israel & the Middle East (continued) adequate accounting records have not been kept by the charity,. or sufficient accounting records have not been kept" or the charity financial statements ar8 not in agreement with the accounting records and returns,. or we have not received 811 the infomiation and explanations we require for our audit. Responslbilities of trustees for the flnanclal statements As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that th8y 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, whdher due to fraud or error. In preparlng th8 financial statements, the trustees are responsible for assessing the 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 operalions, or have no rèalistic altemative but to do so. Audltor's r•8ponslbllltlo8 for th• audlt of the flnanclal gtatomont• 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 a8surance. but is not guarante8 that an audil conducted in accordance with l&qs (UK) will always detect a material misstatement when it exist8. Misstatemen18 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence Ihe economic decisions of users taken on the basis of these financral statements. Irr8gularitie8, including fraud. are in8tanc88 of non-compliance with laws and regulatlon8. We design prO￿dureS in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularitle8, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is detailed below.. Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risk8 of non-compliance with laws and regulations related to the legal and regulatory requirem8nts pertaining to registered charities, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that hav8 a d1￿ct impaGt on the preparation ofthe financial statements such as th8 Charities Act 2011, and FRS102. We evaluated management's incenllves and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to journal entries. Audlt procedures perfomied by the engagement team inGluded.' Audit procedures performed by the engagement team included: Inspecting correspondence wrth regulators and tax authorities., Discussions with management including consideration of known or suspected instan¢e8 of non-comF4iance with laws and regulation and fraud- Evaluating management's controls designed to prevent and detect irregularities,. Identifying and testing journals, in particularjoumal entrie8 POSt8d at the year-end or with unusual descrlptions,. and Challenging assumptions and judgements made by management in their critical accounting estimates. 16- Indèpendent audltorfs roport to the trustee of Jewlsh Philanthroplc Assoclatlon for Israel & the Middle East {contlnuedl Becaus8 of the inherent limitation8 of an audit, there is a risk that we will not detect all irregularities, induding those leading to a material misstatement In the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will b8 less likely to become aware of instan￿3 of non