COMPANY REGISTRATION NUMBER: 01883123 CHARITY REGISTRATION NUMBER: 291834 UNITED TALMUDICAL ASSOCIATES LIMITED COMPANY LIMITED BY GUARANTEE FtNANCIAL sTATEME￿s 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 AD￿lINISTIL4T1VE 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 A￿dItor 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 pU￿Ose8 as are recogDised by English Law as charitable and xti furth¢rance of th¢ aforementioned obj￿ts. 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 j￿iSh 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 l￿d 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 p￿80￿5 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 unAw￿e,. 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 Dec￿llber 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 d￿cribed 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 infOrn￿tion, 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 IiEsPONSIB￿TIEs 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 fID￿CIal 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 tn￿tee5 ¢ith¢r intend to liquidate the ¢harity or to ce8S¢ op¢rations, or hav¢ no realistic al￿rnatiVe 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 refl￿ted in th¢ financial stal¢menlS, the less likely the inh¢rently limited procedures required by auditing standar