Combined Funds Limited
| Combined Funds Limited
| |
|---|---|
| Type | Charitable company |
| Founded | Memorandum and articles 14 October 1981; registered as a charity 27 April 2020 |
| Registration ID | 1189209 |
| Location | Throughout England (grant maker) |
| Key people | Original trustees reported as members of the Stolzberg family |
Combined Funds Limited (charity number 1189209; company number 01591120) is an English charitable company. It is governed by memorandum and articles dated 14 October 1981 and was registered with the Charity Commission on 27 April 2020. It operates by making grants to organisations and individuals. Reporting on the current register entry is up to date. A statutory inquiry opened on 27 March 2018 and closed with an Official Warning in 2020.[1][2][3]
Objects
1) The advancement of religion in accordance with the Orthodox Jewish Faith
2) The relief of poverty
and 3) for such other purposes as are recognised by English law as charitable and in furtherance of the aforementioned objects.[2]
Published activity: provision of basic necessities for the poor; relief of suffering and support in regard to illness and disabilities; support to Jewish education and places of worship; support for the physical, mental, spiritual and moral development of youth and children in accordance with the Orthodox Jewish faith. Main way of carrying out purposes: grant making. Area: throughout England. No trading subsidiaries on the current register snapshot. No trustee remuneration.[1][4]
People
When the 2018 inquiry opened there were three connected original trustees (A, B and C). Trustees D and E were appointed in January and August 2018; Trustee B resigned in February 2019. Press reporting named founders/trustees including Ephraim Stolzberg, Helen Stolzberg, Ben Stolzberg and Mordechai Stolzberg, with Mordechai reported as having stepped down.[5][6]
Trustees
| Name | Role | Date of appointment | Other charities |
|---|---|---|---|
| Ephraim Stolzberg | Chair | 14 October 1981 | None on record |
| Sarah Braun | Trustee | 19 March 2026 | None on record |
| Asher Zelig Lew | Trustee | 1 August 2018 | Interdam Limited; Chaim Yosef Trust |
| Joseph Stern | Trustee | 24 January 2018 | Possuk Limited; Achim Limited; Crownhost Limited; Sellata Limited; Keren Association Limited |
| Esther Hirsch | Trustee | 28 September 1981 | Friends in Need |
Finances
| Year to 30 June | Income | Expenditure |
|---|---|---|
| 2021 | £150.00k | £1.63m |
| 2022 | £90.24k | £1.67m |
| 2023 | £6.29k | £972.99k |
| 2024 | £20.36k | £439.31k |
| 2025 | £55,117 | £418,310 |
When the inquiry opened, year-ending 2016 income was reported as over £700,000 with net assets over £6.5 million. Spending has far exceeded income in the years after registration as grants continued from accumulated funds. No government contracts or grants on the published history table.[3][2]
Inquiry (2018–2020)
The Commission opened a statutory inquiry on 27 March 2018 and restricted the charity’s bank accounts (section 76 order, May 2018; discharged 30 July 2019). Concerns included conflicts of interest and connected-party transactions: three related original trustees, and a trustee as sole director of trading subsidiaries.[3][5]
The published inquiry (17 November 2020) found misconduct and/or mismanagement. Findings included:
- loans of over £1 million (2012–2017) to four subsidiaries of which Trustee A was sole director (later reported as repaid);
- a grant of about £250,000 for private medical care of a person connected to the original trustees;
- no formal grant-assessment system or decision record;
- failure to register the charity at the proper time and to prepare SORP-compliant accounts.
The Commission said it did not find misappropriation of funds or loss to the charity. An Official Warning was issued on 3 July 2020 to the two remaining original trustees. Independent trustees and written policies were put in place during the inquiry.[5][9][10]
This 2018–20 inquiry is separate from the later class inquiry into 105 charities and cashed cheques.
See also
- Serious concerns over use of £22 million triggers investigation by charity regulator
- Regulator opens next phase of investigation into 105 charities connected to company cashing cheques
- Regulator announces next charities to be investigated as part of inquiry connected to company cashing cheques
- British Jewish or Zionist charities investigated by the Charity Commission, 2005-2023
- British Jewish charities investigated by the Charity Commission
Notes
- ↑ 1.0 1.1 1.2 Charity Commission, COMBINED FUNDS LIMITED - 1189209 Register of Charities, accessed 15 September 2026.
- ↑ 2.0 2.1 2.2 2.3 Charity Commission, COMBINED FUNDS LIMITED full print.
- ↑ 3.0 3.1 3.2 Charity Commission, New Charity Investigation: Combined Funds Limited GOV.UK, 15 June 2018 (withdrawn 17 November 2020).
- ↑ Charity Commission, What, who, how, where COMBINED FUNDS LIMITED.
- ↑ 5.0 5.1 5.2 Charity Commission, Charity Inquiry: Combined Funds Limited GOV.UK, 17 November 2020 (later withdrawn as over two years old).
- ↑ The National, Jewish charity given official warning after trustee used £1m of funds as loans, 18 November 2020.
- ↑ Charity Commission, Trustees COMBINED FUNDS LIMITED (1189209) Register of Charities.
- ↑ Find that Charity, Combined Funds Limited GB-CHC-1189209.
- ↑ Charity Commission, Regulator issues Official Warning to poverty relief charity over failures to manage conflicts of interest GOV.UK, 17 November 2020.
- ↑ Third Sector, Charity that paid out £1.25m in trustee-connected loans and grants given warning.