COMPANY REGISTRATION NUMBER: 01883123 CHARITY REGISTRATION NUMBER: 291834 UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE FtNANCIAL sTATEMEs 31 MARCH 2024 COHEN ARNOI Chartered accountants & stathtory auditor New Burlington House 1075 Finchley Road London NWII OPU
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 PAGE Trustees, annual report (inco4X)rnting the directoes report) tndcpendent auditor's report to the members Statement of fmancial activities (including Ancome and expenditure account) Statement of fjnancial position Siatement of cash flows Notes to the financial statements li 12 13 14
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 Th¢ trust¢¢s. who are Also the directors for the puq)oses of company law, present th¢ir r¢port and the fjnancial statements of the charity for the year ended 31 March 2024. REFERENCE AP4D ADlINISTIL4T1VE DETAllS United Talmudical Associat¢8 Limited Registered charity name ChArlty rt£fstrAtlon number Company regl$(radon number 01883123 Prlnclpal offlee and registered New Burlington Hou8e offlce 1075 Finehley Road Londo NWI I OPU 291834 THE TRUSTEES Mr S D Joseph Mr S Seidenf¢ld Mrscik Company secretary AdItor Mr S D Joseph Cohen Arnold Charter¢d accountants & statutory auditor New Burlington Hous¢ 1075 Finchley Road London NWI I OPU
UNITED TALMUDICAL ASSOCIATES LIMrrED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIREcfoR'S REPORT) YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE ATr4D MANAGEMENT Governlng doeuments The Charity is constitutsd as a company limited by 8uarantee and as su¢lL its governing documents ar¢ its M¢morandurn and Articles of Association. Its registered chariry number is 291834 and its Company registration number is 01883123. Tru5tees- Appolntment tralnlng And reerultment As set out in the Articles of A8sociation the members of the Charity shall not exceed twenty five. There are ttvo classes of members: Ordinary Member8- subscribers and &ll persons subsequcntly athnitled to membership. Honorary Members - per8Oll8 the board of tsustee8 ("Council") may admit from um¢ to time with written consent. All current trnsiees are Ordin members and no honorary members have beeo Appointed. Every trustee holds office until h¢/shc shall di¢ or shall cease to hold office by virtue of Articlc 48 of the Artic1¢5 of Association. Unless and until othenvise detemiined by the Charity the Council shall consist of not les6 than two and not more ihan ten trustees. Th¢ Council appoints fTom ainong lis mcmber8 a Chairn)an and Vice-chaimian. and in the event any va¢ancy ari5cs th¢ Council sh&ll as soon as pr8Ctic#ble fill the vacancy. Three ordinary m¢mbers present in person shall forni a quorum at a general m¢¢iin8. None of the ttvstees havc any beneficial interest in Che Charity and no benefit or upenses were paid in the year. Minagement of the ch&rlty The chariry is adminisiered and managed by the tnistecs Rnd the day-to4ay activities are perforn)¢d by Mr & Mrs Fogel. All trnstees give their time voluntsrily and no benefiis or expettscs were paid io them durlng the ye¥r.
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (cprtriur¢¢dJ YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITtES The Charity was established tr) advance religion in accordance with the Orthodox Jewish Faith and for such other pUOse8 as are recogDised by English Law as charitable and xti furth¢rance of th¢ aforementioned objts. Thc trustees conf5rm that they hav¢ refetTed to the Charity Conunission's g¢n¢ral guidance on public ben¢fit when r¢viewing the Charity's aim5 and objectives. plannitig futur¢ aclivitics and setting ihe grant making policy for the year. The objectives of the Charity are to support the activities of religious Jewish organisations ¢5pecially in th¢ field of educaiion and relief of poverty. The tTUSt¢¢s review institutions and organisations recommended by its donors and ensure they meet appropriate criteria and are in line with the Charity's obj¢¢ts. The Charity regularly sUPPOrts a number of these institutions and or84nisations, which themselves are Qwing not only in England but also worldwide. The Chariry is also supportive of organisations which are sol¢ly commilled to the relief of poverty. Such organisations assisi needy Jewish families financially and also through the distribution of b8SI necds. The Cl?arity's aims (boih short tern) and long terni) are to r¢duce povcrty in the Orthodox Jcwish community both in the UK and worldwide whilsi, at the same time, encouraging and supportin8 a high standard of education throughout the community. To achieve it8 Sta¢cd aims, the Chatity conlinu&s to provide Y4 computerised, efficient and accurnte platfomi lo facilitate charitable support from the Orthodox Jewish community. The Charity operates "voucher" scheme. When an individual opens account with (he Charity, they arc provided with unique client account number and. if r¢questcd, voucher books to make chari(able donations. Grant maklng pollcy Grants are made to ¢harilablc institutions, organi5ations and authorised individua15 which accord with the objects ofthe Charity. In making Grants and Donations. the tNst¢es use their personal knowledge of the insLiLution, its representatives, operational efficiency and reputation. The trusre¢s monitor the application of the Grants and Donations by meeting with r¢presLlltatiV¢S of the in51itutiot]s and obt8ining inforn]ation as to the utilisation of funds.
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATJNG THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE Donation5 rcceived fell during the year by 0.4Vo Compared to th¢ previous year. The Iru5t¢¢s are Satisfied with the levcl of donations receÉved ¢onsidering the current economic climat¢. During rh¢ year a total of £17.7m (2023.. £19.4m), a dttrea5¢ of 9.00/0, has been distributed in accordance with the obje¢ts of the Charity ag shown in the attached Fin8ncial Stalcments. The UK economy is ¢urr¢ntly facing significant challengcs with rising int¢r¢st rates and heightened inflation, compoundcd by tlie impact of the on-going war in Eastern Europe and the increasing risk or r¢cession. This may havc had An effect on th¢ Charity's in¢ome. The p¢rfornian¢e of th¢ Ciwity is measured by the iotal number of clicnts making meaningful and regular donaiions, tO8ciher with th¢ quantum of thc donation5 received. During the year £18.7m was receivcd, all of which was donat to causes enabling thc Charity to meet lis aims. Th¢ benefits that the recipient charities provide include thc provision of basic necessities and financial support to the poor. Jewish education and places of worship for the jiSh communiry and the relief or suffering sn regard to illncss and disabililles. FINANCIAL REVIEW Reserves polley At the ycw ¢nd £652,274 {2023.. £604,648) held as unr¢strict¢d funds and £2.073,724 (2023., £1,225,287) as restricted funds. Restricted rtd8 relate to fijnds where the relevant donor will reque81 fjJnds are donated to specific r¢cipicnt8. Once sufficient checks are undertaken lo ensurc the recipients, objects are both charitable and in linc with the objects of the Charity then donatiODS are made in line with th¢se requests. li is the policy of the Charity to maintain unrestricted funds, which ure the free rescrve of thc Chuity, at o level, which the ttijstees think appropriat¢ afi¢r considering the futtw¢ Commitments of the Charity and the likely administrativ¢ costs of thc Charity for the next ycar. Rlsk management The trustee8 have identified and reviewed the major risks to whieh the Charity is exposed. The main p¢rceived risks lo the charity are the state ofih¢ UK economy and the number of ¢li¢nLS of rhe Charity. The trust¢¢s have no control over the first of these perceived risks. Howev., both monual and auloniat¢d ¢hecks are regularly invoked, particularly Ihose relating to the opcrations and finance of the Charity. The Irust¢¢s are satisfi¢d thai these syst¢ms and procedures mili8ate any perceived risks within their control. Lt is recogniscd that systems ¢an only provide reasoDablc but not absolute assurance that major risks have bcen adequately managed. PLAI¥S FOR FTTfuRE PERIODS The trust¢¢s plan to continue to make distributions iti Aecordance witb their grant making policy and to ensur¢ that an appropriate level of reserves is maintained. The irnstees will continue to d¢velop relationships within the Orthodox Jewish community in order to maintain the cli¢nt numbcrs and quantum of donatiolls received. Th¢ current stale of the UK economy may hav¢ an efferl on the Charity's incom¢. The operational risks are beyond the control of the Charity Und represent uncertainty foT the income and cash flow of the Charity for the foresccabl¢ ture.
UNITED TALMIIDICAL ASSOCIATES LI]lfffED COMPANY LIMITED BY GU.41L4NtEE TRUSTEES, ANNUAL REPORT (INCORPORATL¥G THE DIRECTORIS REPORT) YEAR ENDED 31 MARCH 2024 TRUSTEES, RESPONSIBILITtES STATEMENT The trusteey who are also directors for rhe pury)oses of company Law, Are responsible for preparing the Irustees, report And the fillatLcial ststemenls in accordanc¢ with applAcable law alld United Kingdom Accounting Standards (Uniied Killgdom Generally Accepied Accounting Practice), Company law requires the chariiy ttu8tees to prepare financial statements for each year wtitch give a true ai)d fair view of the stale of affairs of tl)e cbartthble company and the incoming resources aud application of resources. including rlie income and expendAtwe, for th&t period. In preparing these fmancial Statements, The tNslees are required TO.. select suitable COllntIAs policie5 and thell apply them conslstenily. observe the methods and principles in It]e applicable Charities SORP; make judgmellts and accounting estimates that are reasonable and prudeni; prepare the finaocial statements on Ihe going concern basis unless it is approPriate to ptesuii rhal rhe charity will continue in business. The rrusrees are responsible for keeping adequate accouDting record5 that a sufficient to sbow ]d explstiii the cliariry's transaciions ld disclose with reasonable accuracy at any ume the financial posiiion ol tbe charity and enable theiii to eiisure thAr the fiiiancial Stsiements cimply witb Ilie Coiiipanies Aci ?006. Tbey are also responsjble for sategu3rdillg ihe asseis of the charity and hence for iakiiig Leagoll8ble steps for the Preveniion and detection of fraud alld other irregulariiie5. AifDITOR Each ot rhe p805 who is A in]siee ai ihe dAte of approval of Ilw report cotkn that.. 80 far as they are aware, the is no relevan¢ audit it)fonnaiion of which the charitys audilor is unAwe,. and they have tsken all 81eps thai they ouglu io have laken as a Mistee lo make rhemselves awate of any relevant audit information and io esiabli5& rh8r the chariry's auditor is 8ware of diat informlliion. The auditor is deemed to have beeJ] re-appointed ill acLord3llce with section 487 of the C.ompAnies Act 2006. SMALL COMPANY PROVISIOIYS This report has been prepared in accordaiice witkn tbe provisions applicable to companies entitled to the small companies exempflon. The tnistees, onuual report was approved on 18 Decllber 2024 and sigtied on behalf of the board of truslees by.. frscik TNslee
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITED TALMUDICAL ASSOCIATES LIMITED YEAR ENDED 31 MARCH 2024 OPINION We have audited the financial stal¢ments of United Talmudical Associate5 Limited (the 'charity') for the ycar ¢ndcd 31 March 2024 which compri8¢ the statement of financial activilics (including income and cxpcnditure account), statement of finarL¢ial posilion, statement of cash tlows and thc related notes. including a surtllnary of significant accounting policies. Thc financial reporting framework that has been appli¢d in their prcparaiion is applicabl¢ law and United KiDgdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland IUnit¢d Kingdom Gcnerally Accepted Accoullting Practirc). In our opinion th¢ financial slatemcnts.. give a true and fair view of thc state of the chariry's affairs as ot 31 Mar¢h 2024 and of its incoming resources and application of resources, including ils income ¥4nd expenditure. for the year then ended: h&ve been properly prepared in accordance with United Kingdom Generally Aecepted Accounung Practice; have been prepared in accordanc¢ with the requirements of th¢ Compatiies Act 2006. BASIS FOR OPtNION We conducted our &udit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards ar¢ fijtther d¢s¢ribed in th¢ auditor's responsibiliti¢s for the audit of th¢ financial 8tatements section of our report. We are independent of the charity in accordancc with th¢ ethical r¢qvir¢ments that 8r¢ relevalll io our audit of the financi81 statemcnls in the UK. inrludins the fRC'8 Ethical Standard, and we have fulfilled our other ¢¢hical responsibilitie5 in accordance with these i'equiremen15. We belicve ihat the audit evidence we have obtained is 8uffi¢ienl and appropriatc to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stal¢ments, we have ¢oncluded that the trustees, use of the 8oin8 concern basis of accounting ID the preparation of tb¢ financial stalcments is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significatLt doubt on the ¢harity'5 ability to continue as a going conr¢rn for a pcriod of at least twelve months from when the financial statements are authorised for issue. Our respon5ibilitiC5 and the responsibilities of the tsustees with r¢sp¢ct to 80iDg conccm are dcribed in the relevant sections of this rctM)rL
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUA1i4NTEE IIWEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNrtED TALMUDICAL ASSOCIATES LILIIITED ( YEAR ENDED 31 MARCH 2024 OTHER INFORIIiATION The other inforniation comprises the inforniation included in the annual report, other than ihe financial statem¢nts and our auditor's report th¢reon. Th¢ ttustecs responsible for the Dther infomwtion. Our opinion on the financial statements does not Cover th¢ other inforniation and. except to the extent othenvise cxpli¢iily stated in our report, w¢ do not express any fomi of assurance conclusion thereon. In connection with our audit of the finan¢ial statCTnents, our responsibility is to read the other infomiation and, in doing so, consider whether the o(h¢r information is materially inconsistent with the financial stJt¢ments or our knowledge obtained in the audit or otherwise appears to be materially missiated. If we idcntify such material inconsistencies or apparent marerial missiatcinents. we are required to determine whether thcre is a material misstatem¢nt in the financial statements or 8 m&terial misstatement of the oiher infomiation. If, based on the work we have perfomied, we ¢oncludc tha¢ there is a material mi55¢8t¢ment of this other infOrntion, we are requircd to report that fact. We have nothing to report in this regard. OPINJONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2(106 In our opinion. based on the work undertaken in th¢ course of the audit.. the infoTmation given in the ttwstees, report for Ihc financial year for which the financial statements are prepared 18 consistent with the financial statemenis. and th¢ trnstee8' rcport has becn prcpBred in accordance with applicable legal requir¢mellts. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and undcrstsnding of the company and ils envirotm)ent obtained in the course of ihe audiq we hav¢ not idcntified material misststements in the directors, report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to you if, in our opinion.. adequatc accounting records have not b¢erL kep4 or retyrns Adequate for our audit hav¢ no¢ been received from branches nol visited by us., or the finan¢i&l statements are not in a8reement with th¢ accounting records and retUTDS' or certain disclosw¢s of trustees remuneration specified by law Hre not made. or w¢ have not received all the infomiation and explanations we require for our audit. or the trustees w¢r¢ not entitled to prepare the financial statements in accordanre with th¢ small companies r¢8ime and take advantag¢ of the small companies, exemptions in prcparing the directors, r¢port and from the requiremcnt to prepare a strategic report.
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITED TALMUDICAL ASSOCIATES LIMITED YEAR ENDED 31 MARCH 2024 IiEsPONSIBTIEs OF TRUSTEES As explained more fully in the trnstees, responsibilities statement, the trnstees (who are also the dircciors for the purposcs of company lawl ar¢ responsible for the pr¢p8r8tion of the financial statements and for being saiisfied that they 8ive a ttue and fair view. and for such intemal control as thc tnis(ees dcterniine is nccessary to enablc the preparation of fIDCIal stat¢m¢nts that are free from n)aterial misgtatement, wh¢ther due to fraud or error. In preparin8 the financial stat¢m¢nts, the irust¢es are responsible for &5sessing the charity's abiliry to continue as a going concern, disclosing, as applicabl< matters related to going con¢¢rn and using the 80in8 concern basis of accounting unless thc tntee5 ¢ith¢r intend to liquidate the ¢harity or to ce8S¢ op¢rations, or hav¢ no realistic alrnatiVe but to do so. AUDITOR'S RESPONStBILITIES FOR THE AUDIT OF THE FINATrICIAL STATEMENTS Our obj¢¢tives are lo obtain reasonable assurance about whether the financial st8t¢melltS as a whol¢ are free from matcrial misstalcmenl, whether due to frdud or ¢rror, and lo issue an auditOT'S report that in¢ludes our opinion. Reasonabl¢ 8ssurance is a high level of assurance, but is not a guarantee Éhat an Audii conducted in accordane¢ with ISAS (UK) will always delect a material misslatcm¢nt when it exists. Mis51atements can arise from fraud or error and ue considered matcrifyl if, individually or in the aggre8ate, they could reasonably be expected to influencc the economic decisions of user5 taken on the basis of th¢se financial statemencs. Irre8ulariii¢s, including fr¥4ud. are in5tan¢es of non-¢ompliance with laws regulations. We design proccdur¢s in line with our responsibilities, outlin¢d above, to detect mat¢rial misstaiement5 in respect of irregularitie5. including fraud. The exlcnt to which our procedures are Capable of detecting irregularities, including fraud is detailcd below.. We obtained an undcrstAnding of the l¢gal and regulatory frameworks that are applicable to th¢ Charity. And determined that tlie most relevant lo tlie presentation of the financial statements are those that relate to Ihc reporting legislation (Charities SORP, th¢ Charities A¢1 2011 and the Compaiiie5 Acr 2006), the relevant tax rc8ulations in (hc United Kingdoin, the UK G¢n¢ral Data Protection Regulation (GDPR), Health & Saf¢ty Regulations and (l)¢ Bribery Acl. We undtrstood how the Charity is complying with t1105c frameworks through dis¢ussion with the trustees, and by identifying the Charity's poliLies and procedurc5 regarding compliance with laws and regulations. We coinmunicated th¢s¢ identified frameworks amongst our audit team ttnd reinain¢d alert to any indi¢21ions ol iion-compliancc throughout the audit. We ensured il)at ihe engagement team had suffieient compelen¢e and capability to identify or recognise non-complian¢e with laws And regulations. W¢ discussed with th¢ truslees the policies and procedures regarding Complian with these legal and regulatory frameworks. We ass¢ssed the sus¢eptibility of the Charity's financial ststements to material mi5Statement, including how fTaud migl)t occur, by reviewing the Charity's identified risks and enquiry with th¢ tNstees during the planning And fin8lisation phases of our audit. Th¢ susceptibility to such material mi5Statement was deterniined to be low.
UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITED TALMUDICAL ASSOCIATES LIMITED (LwoIIA¥¢41 YEAR EIYDKD 31 MARCH 2024 Based on this understanding we designed our audit procedures to identify non-eomplianc¢ with the idcntified legal ajid regulatory frameworks, whi¢h were pari of our procedur¢5 on thc related finan¢ial statem¢nt items. Our proccdur¢s included rcviewing the Charity's in(cmal controls policies and procedures. reviewing correspond¢nce with regulaiory bodies including HMRC, testing transaction5 outside the nornial course of th¢ business and journal entries, and discussion5 with the trustc¢s. Owing to the inherent limitations of an audi¢ there is an unavoidable risk that we may not have detected some matcrial misstatements in th¢ financial statements, eveD though we have properly planncd and pcrfomed our audit in accordance with auditing standards. For ¢xample, the furtber removed non-compliaD¢e with laws and regulations (iffe8ulariti¢s) is from the events and transactions reflted in th¢ financial stal¢menlS, the less likely the inh¢rently limited procedures required by auditing standar<Ls would identify it. In addition. os with ony audil, (here rcmained a higher risk of non-dctection of irregularitics. as these may involve collusion, forgery, int¢ntional omissions, misrepresenlalions. or ihe oveJTide of internal controls. We e not responsible for preventing non-compliance and cannot be expected to dete¢( non&compliance wilh all laws and regulations. As pllrt of an audit irt a¢¢ordFdnce willi ISAS (UK), we exercise professional judgment gnd maintain professional scepti¢ism throug]iout thc audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or etTor, design and perform audit procedures responsive to those risks. ond obiain audit evidencc that is suffi¢icnt and appropriate to provide a basis for our opinion. The risk of noi detecting a material rnisstatcmcnt resulting from fraud is higher ihan for one resultlD8 from error. as fraud may involve collu8ion, forgcry, intentional omissions, misreprcsculations, or the override of intemal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the ¢ireumstao¢es, but not for th¢ purp08e of expressing an opinion on thc eff¢¢tiveness of the internal control. Evalu81e the appropriateness of accoun¢ing polici&s used and the reasonableness of accounting estimates and r¢lated disclosures mad¢ by the trustees. Con¢lud¢ on th¢ appropriateness of the trustees, use of the going conc¢rn basi5 of accounting and, bAsed on the audit evidence obtained, whether a material unccrtainty exists relut¢d to events or condiiions that may cast significant doubt on the charity's ability lo ¢ontinu¢ as a going concern. If we coii¢lude tliat a material uncertainty ¢xists, we are required to draw attention in our 8uditOT'S report to the itlated disclosures in the financial statemenis or. if such dibclosures ar¢ IDadU&te, to Tnodify our opinion. Our ¢onclu5ions are bas¢d on th¢ Judit evidence obtained up to the date of our oudilor's r¢port. However, fuwr¢ evenis ur conditions m&y Cause the charity to cease to continu¢ as a going concern. Evaluate the overall presentation, sttuctur¢ and content of the financial statements, including thc disclosures. and whether the finuncial statements repres¢nt the underlying transactions and events ID a manner that achiev¢s fair pSentation.
UIYITED TALTrtUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNITED TALMUDICAL ASSOCIATES LIMITED (cwrtlmu£dJ YEAR EIYDED 31 MARCH 2024 We COrnTnunicate with those charged with governance regarding, among other matter5, the planned scope and timing of the audit and significant audit findings. including any significant deficiencies in internal control that we identify during our audit. USE OF OUR REPORT This report is made solely to the charity's members. as a body. in accordance with Chapter 3 of Part 16 of th¢ Companies Act 2006. Our audil work has been undertllken so that we might state to the eharity's members those matters we are required lo stat¢ to them in an auditor's report and for no other purpos¢. To the fullest extent permitted by liw. we do not accept or assume responsibility to anyone other than the charity and the chariiy's members &s a body, for our audit work. for this report, or for th¢ opinions we have fomied. Joshua Neumann (Senior Ststulory Auditor) For and on behalf of Cohen Arnold Chartered accounlanls & Statutory audiior New Burlington House 1075 Finchley Road LotKlon NWII OPU 18 Dec¢mber 2024 10-
UMTED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANfEE STATEMENT OF FINANCIAL ACTIVtTIES (INCLUDJNG INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 2024 Unre8tricted Restrictcd funds funds Total funds Totsl funds 2023 Note In¢ome and endowments Donacions and legacies Charitable activities Investment incom¢ 18,686,172 18,686,172 18,940.499 (392.917) 392.917 59,254 59,254 452,171 18.293,255 18,745,426 18,940,799 300 Total Income Expendlture Expenditure on choritoble ac¢ivi¢ies Total expendlture (404,545) (17,444,818) (17,849J63) (19,511.389) (404,5451 (17,444,818) (17,849,363) (19.511,389) Net Ineomel(expendlfvr¢) and ne¢ movement In funds 47,626 848,437 896,063 {570,590) ReeonclllAtlon of fund$ Total funds brought forward Total ndS carrled fDrwird 604,648 652,274 1,225,287 2,073.724 1,829,935 2,725,998 2.400,525 1,829,935 The statement of financial aciivities includes all 8ain5 and losse8 reco8nised in the year. All income and expenditure derive from continuing activities. The p•gei 14 to 11 form pirt oCthe$e tlnAlltl•l itatETDents. li
UNTfED TALNWDICAL ASSOCL4TES LIMITED COMPANY LIMED BY GUARANTEE STATEMENT OF FINAYL CL4L POSITIO]Y 31 MARCH 2024 2024 2023 rfe CL11RE ASSETS Debtors Cash at bank 8nd AQ hand 15 20,538 2,727960 2,748898 8,584 1,840,351 1,848,935 cREDoRS. Inioiints falllDg due Ithlll one yeii, NET CURRENT ASSETS 16 (22,$1)0) (19,000) 2,725,998 1,829,935 TOTAL ASSETS LESS CiiRRENT LIABILITIES 2,725,998 1,829,935 IIET ASSETS 2.725.998 l.829,935 FUNDS OF THE CHARITY Resrricted ndS Unrestricied funds 2,073.724 652274 1 ??5 ?87 604,648 Total thailty funds 17 2,725.998 1,829,935 Tbese fllJaIici81 statements have been prepared iti accordlce with the provisions applicable to ComplIeS subject to the Sm1 compADies' regime. These fmallLial sl8tement5 were approved by the board of trustees aud tbOY1sed for issue on 18 December 2024, and ate signed on E*half of the board by; Mrscik Trnsiee Tht Hotes (1 pages 14 to 21 forni part of thtse ffflan¢fral $tatemeJLt& 12-
t)NITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE STATEMENf OF CASH FLOWS YEAR ENDED 31 MARCH 2024 2024 2023 CASH FLOWS FROM OPERATING AcfIvITIES Net incomel(expenditure) Adjustmenlsfor.. Other interest receivable and similar incouLe tntercs¢ payable and similar charges AccTued expense5 Ckanges IA.. Trade and other debtors 896,063 (570,590) (S9,254) 6,266 3.500 {300) 5.230 500 (11,954) 834,621 (6,266) 59,254 887,609 Cash genera*d from opcrations Interest paid Inter¢st r¢c¢ived {565,116) (5,230) 300 Nei cash fromllused in) operating activitie8 (570.046) NET INCREASEI(DECREASE) IN CASH AIYD CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUTVALENTS AT END OF YEAR 887,609 1,840JSI 2,727,960 {570,046) 2,410,397 1.840,351 The ttote$ PAgo$ 14 to 21 fom part of tILese flnancial itaten•¢Dts. 13-
UNITED TALMUDICAL ASSOCIATES LIIVllTED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINAF4CIAL STATEMENTS YEAR EIYDED 31 MARCH 2024 GENERAL INFORMATION The charity is a public benefit enlily 2nd a private company limiced by guarantee, regist¢r¢d in England and Wales and a regisler¢d cbarity in England and Wales. The address of the rcgistered office is New Burlingttsn House, 1075 Finchley Road, London, NWI I OPU. STATEMENT OF COMPLIAF4CE These financial statem¢nts have been prepared in compliance with FRS 102, Financial Reporting Standard applicabl¢ in the UK and the Republic of Ir¢land', the Statem¢ni of Recommended Practice applicable to ¢harities preparing their a¢counts in accordance with thc Fiiian¢ial R¢por¢ing Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (tharities SORP (FRS 102)) attd the Companies A¢t 2006. ACCOUNTING POLICIES Basis of preparatlDn The financial statements have been prepared on the historical c051 basis. United Talmudical Associates Limited meets the d¢finition of a public benefit entity under FRS 102. The financial st8t¢ments are prepared in sterling, which is the fijnctional currency of thc entity. Golng Concern There ar¢ no material uncertaiNti¢s about th¢ charity's ability to Continue as a going concern 4nd as such the Trustees have prepared the a¢¢ounts on that basis. JudK¢ments and key source8 of estlmatlon uncertalnty There are no judgements. tIMat¢S or assumptions that affect amounts reported. Fund *¢¢ovntlng Unrestrleted fundi General unre8tri¢ted funds ¢omprise the accumulated surylus or deficit on income and eXpendire account. They are available for use at the discretion of the Trnstees in fjJrtheran¢e of the general obj¢ctive5 of the Charity. Restrlcted funds Restricted fijnds are fund5 subject to the restrictlODS impos¢d by th¢ donor. Under normal cir¢umstanc¢s th¢ restrictions of the donor will be honoured a8 long a8 th¢y fall within thc objects of th¢ Charity. A commission charge is made by the Company on all doJJations received. This charg¢ is Subsequently transfetTed io a separate a¢count as unrestrictcd fijnds. 14-
t)F41TED TALMUDICAL AsSOCTEs LIMtTED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS CCvJJ YEAR ENDED 31 MARCH 21b24 ACCOUNTING POLICTES ic•ntiAu¢d) IDtomln2 resource8 All income is included in the statem¢nt of fuhancial activities wheu ¢ntitlement has passed to the charity, it is probable that the economic b¢nefits associated wilh the transaction will flow lo the charity, and the amount can b¢ r¢liably measured. The following specifie policics 8re applied to particular categories of income: income from donations or granls. and from the commission charged on them, 15 rc¢ognised when there is evidencc of ¢Dtitlem¢nt to the gift, reoeipt is probable. and its aOnt can be measured reliably. Resources eipended Expenditure is recognised on an accru815 basis as a liability 18 incurred. ExpendiNre includes any VAT which cannot be thlly recov¢r¢d. and is ¢lEssified under headings of the slatem¢nt of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities. events. non-chariiabl¢ trading activiti¢s, and the s&le of donat¢d goods. expenditure on charitable activities includes all costs incwred by a charity in undertaking activities that rther Ils tharii&ble aims for thc bcnefit of ils beneficiaries. including those 8UPPOrt CO8¢s and costs relaiing to tlie governance of thc charity apportioned w chg4ritabl¢ activitie5. oth¢r expenditure includes all expcnditure that is neither related lo raising rtds for th¢ chariry nor part of ils expenditure on charitable activitie$. All eosts ar¢ allocated to expenditure ¢ategories reflecting th¢ use of the resource. Direct costy attributablc to a singl¢ activity are allocat¢d dir¢ctly to tl)al Aciivity. Sharcd c051s are apportion¢d between the activities they contribure lo on a reOnable, ju51ifiable and eonsistent basis. FlnanelAI Instruments A financial asset or a fmancial liabiltty is re¢ognised only whett th¢ entity becomes a party io the contractual provisions of the Ins1Mellt. Basic financial In5ttments are initially reco8nised at the amount Teceivable or payable inelt]ding any relatcd transaction costs. utdess the aLTangem¢nt constitutes a financing trangactioN where it is recognised at the prcsent value of the fvture paymen15 discounted at a market rate of in*rest for a similar deb¢ instnllnent. Current assets and current liabiliti¢s are subsequently measured at ihe cash or other consideration expected lo be paid or receiv¢d not discounted. LIMITED BY GUARANfEE The charity 18 a company limited by guarant¢c and has no share capital. Th¢ liability of each member in the event of winding up is limited to £1. 15-
irNITED TALMUDICAL ASSOCiATES LIMITED COMPANY LIMITED BY GUARAIYTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 DOIYATIONS AND LEGACIES Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 DONATIONS DoTSations received Gift Aid received net Taxation rccovcrable on Donations 17.617,093 17,617,093 l7,679.579 17.679,579 855.263 855,263 1,008.736 i.(rf)8,736 213,816 213,816 252,184 252,184 18.686.172 18,686,172 18,940.499 18,940,499 CHARtTABLE ACTIVITIES unrtrICted Fullds Restricted Total Fund Funds 2024 Commission 392,917 (392,917) Unrestricted Funds Restricted Total Funds Funds 2023 Conmii88ion 408.047 (408,047) INVESTMENT INCOME Unrestri¢led Totsl Fundy Unrestrictcd Total Funds Funds 2024 Funds 2023 Bank Interest receivE4ble 59,254 59,2S4 300 300 EXPENDITURE OL¥4 CELARITABLE AcfiviTIES BY FUND TYPE UDr¢stricted R¢stticted Total Funds Funds Funds 2024 Grants and Donations Support costs 223.359 17,444.818 17,668,177 181,186 181,186 404.545 17.444,818 17,849,363 Unrestricted Funds Restricted Total Funds Funds 2023 Grants alld DonatiOJLS Support ¢08ts 242,017 19.166,545 19,408,562 102,827 102,827 344,844 19,166.545 19,511.389 16-
UNITED TALMUDICAL ASSOCiATES LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (conliw¥od) YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Grant funding Total fuDds of artivitie8 Support costs 2024 Totsl fund 2023 Grants and Donations GOV¢rnacc costs 17,668.177 145,740 17,813,917 19.486.819 35,446 3S,446 24.570 181,186 17,849J63 19,5 11,389 l7,668.177 10. ANALYSIS OF SUPPORT COSTS Unr¢stricted Fund8 TotAI 2024 Total 2023 Communications IT Governance costs Prints8e postage and ststionery Office Management costs Legal and professional fc 87,948 35,446 46.718 10,858 216 87,948 35,446 46,718 10,858 216 33,443 24.570 36.433 8.180 205 181,186 181,186 102.827 11. ANALYSIS OF GRANTS 2024 2023 GRANTS TO INSTITUTIONS Advancement of Health Grants to other grant making ¢haritie8 Education und Trnining Relief of Povety Religious activili¢s J4,732 11,549 2,245,085 2,711,533 10,437,095 10,854.687 4,426,016 5.052,937 336,535 503,399 17,459.463 19.134.105 GRANTS TO INDIVIDUALS R¢lief of Poverty Totsl grants 208,714 274,457 17,668,177 19.408,562 Grants and donAdons pAld Charlty Cong Ohel Torah K¢rw Ezra Mimirtsr Cong Yelev Lcv 52 Street Amud Ha¢zdokoh Ttw¢ Yeshivas Mateh Abarott Ohel Tor&h {Food) Bels Aidel Bnos Chai Pesel 2,117,297 .989,854 727,823 511.166 478,676 445.896 398.884 17-
UNITED TALMUDICAL ASSOCIATES LIMITED ColANy LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEllNTs f¢oMrlw¥¢d) YEAR EIYDED 31 IURCH 2024 IJ. ANALYSIS OF GRANTS fr•MrfM4¢d) Cong Yetev Lev Dsatmar Mosdos Satmar BP Illc United Mosdos Torah Veyirah Shayk¢l E5ub The OJC Fund Elm Beyi5ro¢l Inc Darchi Tzedek PoTisob Me5am¢he lev Kollel Torah Ve Yirah Limit¢d Kolel Bais Avrohom D-spinka Kollel Ercv Shabbos CYL Kollel Satmar Machneh Rav Tov Binyen Torah Ltd Chevras Oncg Yom Tov Kollel Veyoel Moshe Central Cong of Yel¢v Lev Dsatmar Machsikei Yeshive Bait Limud Vchesed 396,132 394,000 370,405 335.000 320.254 317.290 310,500 304,928 289.484 270,000 245.886 215.525 210,105 189,964 178.486 177.082 171.873 158.872 151,105 139,856 127,786 I19,272 119.221 117.659 102.987 98,597 93,324 92,934 83.000 81.490 80.000 79,685 79,393 74,467 72,885 69,414 69,319 68.893 67.834 65,290 65,080 60,534 59,820 59,015 58.425 56,539 56.225 52,923 uty Mifal Ha¢hesed VcllaTz¢dokoh Mosdos Bnei Yerushlayim Mosdos Chasdei Aharon Chevra5 Mo'oz Ladol F O Bels Soroh Schneir¢r tnspiration Yesamach L¢vav Beth Yacob Hgyashan YTV Vyoel Moshe Cong Sheri Torah of Khal Vyoel Moshe Bels Yakov Sara Shnirer Mcr¢az Hatorah Belz M¥4chnovke R¢habilitatlOD Trust One Hcart- Lev Echod Talmud Torah Education Limited Khal Beth Joscph Zvi Dushinky T.T. Chomas Ychosia Chasdei Sholom Trust Con8 sh31 Sholom Kol¢l Avreichim of UTA Kehilas Pupa Tzelim Inc F.0. Bels Chinucb L¢Bnos Reb Shayale's Tz¢duke F.0 Yeshiva Daas Sbolem Sgotz Yishaya Adler Memorial Fund Tzedukas Huir Tch8b¢ Kollel Coll¢ge For Higher Rabbinical Smdies 18-
iJNITED TALMUDICAL ASSOCIATES LIMrrED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 II. ANALYSIS OF GRANTS ¢tied) Kollel Vyoel Moshe Dsatmar BB (Zdoko Vchesed) Congregation Vyocl MosE]e D'satmer Charitsble Trust Cong Yeshivah Oir Pnei Yehoshua 52,905 51.851 50,000 Grauts and Donations le55 than £S0,(KN) 3,420,073 l7,668,177 12. AUDITORS REMUNERATION 2024 2023 Fees payable for the audi¢ of the financial statements 2200 19.000 13. STASF COSTS No 88laries or wages have be¢n paid to unployees. includin8 the members of the committee, during the y¢or. 14. TRUSTEE REMUNERATION AND EXPENSES No remuneration or other benefits from cmployment with the clwity or a related entity w¢re ceived by the trustees. IS. DEBTOILS 2024 2023 Other debtors 20,538 8.584 16. CREDITORS: Amounts f&llln2 due Jvithln one year 2024 2023 Accruals and defcrred income 22,500 19.000 19-
UNITED TALMUDICAL ASSOCIATES LJMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENfs YEAR ENDED 31 MARCH 2024 17. ANALYSIS OF CHARITABLE FUNDS Unrestrlcted fllnd% At l Apr 2023 At Income Expenditure 31 Mar 2024 Unr¢8tricted Funds 604,648 452,171 (404,545) 652374 At l Apr 2022 At Income Expenditure 31 Mar 2023 Unresttict¢d Funds 541.145 408,347 (344.844) 604,648 Rcslrf¢ted funds At l Apr 2023 At Incom¢ Expenditure 31 M&r 2024 Restricted Funds 1,225,287 18,293.255 (17,444.818) 2.073,724 At l Apr2022 At Incom¢ Expenditure 31 Mar 2023 Restricted Funds 1.859,380 18,532,452 {19.166,545) 1,225.287 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unyestricted Funds Restrict¢d Total Funds Funds 2024 CuJTent assets Creditors less than l year Net Assets 674.774 (22,500) 652.274 2,073.724 2,748,498 (22,500) 2,725,9911 2.073,724 Unrestricted Funds R¢stricted Total Funds Fund5 2023 Current assets Creditors les5 thmn l y¢ar 623,648 (19.000) 604,648 1,225.287 1,848.935 (19,000) 1.829,935 Net a88ets 1.225.287 20-
UNITED TALMUDICAL ASSOCIATES UMITED coPANy LIMITED BY GUARAIYTEE NOTES TO THE FIIYANCIAL ST A TEIWENTS YEAR ENDED 31 MARCH 2024 19. FINANCIAL INSTRUMEr(rs The cyrryiti8 amount for eacb category of financial instrument is as follows.. 2024 2023 FlnAnclRI 4ssets that are debt Instruments measured at Amortlsed cost Financial assets that arc debi instnuntnts measurcd at amortised C05t 2,748,498 1,848.935 Fln*nelAI IlabSlltles measured It amortlsed cost Fittancial liabilities measured at 8morti5ed c08t 22,500 19,000 20. ANALYSIS OF CEL4NGES IN NET DEBT At At l Apr 2023 Cash flows 31 Mar 2024 2,727,960 Cash at bank and in hand ,840,351 887,609 21. RELATED PARTIES The following 8fdnts were paid to clwilies where Mr S Seidenfeld, a Trustee of this Charity, is also a Trustee.. The Union of Orthodox Hebrew Congregations £4,374 12023: £9,399), CongrcgatioD Vyocl Moshe D'satmer Charitable Tnkst - £51,851 (2023.. £39,355). Palrn¢ourt Limited - £7,000 (2023.. £96,152). Yeshiva Gcdola Seminar (YGS) £11,356 (2023: £30,075), Friends Of Yeshiva Luzem- £9.888 (2023.. £21.516). £810 (2023.. £33,931) was paid by the charity to Sgtsnar Nursery Tnt. a chaTiry in which Mr S D Joseph, Trustee of this Charity. is also a Trustee. Granls amounting to £34.900 12023.. £39,871) were made to Vyocl Moshe Charitable Trust, £72.885 (2023.. £78,895) to Talmud Torah Education Limited, £289,484 (2023.. £89,731) 10 Kollel Torah Ve Yirah Limited and £139,856 (2023.. £252.000) to UTRY Limil¢d, all of which are charities in which Mr S Cik, a Truslce of this charity, is also a Trnstee. 22. CONTROLLING PARTY United Talmudical Associates Limited is in¢orporaled for charitsble purposes and has no Controllillg Party. 21