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2021-02-28-accounts

REGISTERED COMPANY NUMBER: 07948381 (England and Wales) REGISTERED CHARITY NUMBER: 1151408

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

JEWISH INTERACTIVE LIMITED

Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH

JEWISH INTERACTIVE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Cash Flow Statement 6
Notes to the Cash Flow Statement 7
Notes to the Financial Statements 8 to 14

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives and aims of the charity and its principal activities are:

a) the advancement of Jewish religious education through modern methods of communication;

b) the advancement of education of the public in any part of the world in the knowledge of the Jewish religion and Jewish history and culture;

c) such other purposes as are for the public benefit and are charitable according to English law.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity commission's general guidance to public benefit when reviewing the charity's aims and objectives and in planning future activities.

Volunteers

There were no volunteers during the year.

STRATEGIC REPORT

Achievement and performance

CEO summary

During 2020 Jewish Interactive responded to online learning needs required by the pandemic and developed the infrastructure and framework to continue to explore, innovate and adapt to the next generation's needs, helping them build Jewish educational experiences that inspire, connect and motivate the next generation. We are determined to keep asking questions, engineer solutions and provide the tools and resources our users want and need to fulfil their roles in educating and inspiring the next generation.

We have been developing our new learning platform Jigzi which is due for release in January 2022 to meet our users requirements.

We had a successful crowdfunding campaign, proving public support for Jewish Interactive.

We are currently working on a new strategic plan for the next three years ahead.

Internal and external factors

The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the Charity's activities. The Trustees have taken appropriate action to follow government guidance and to mitigate the effects of Covid-19 on the finances of the charity.

Financial review

Principal funding sources

The principal funding sources are grants and donations as well as income from charitable activities.

Reserves policy

The charity aims to maintain reserves in order that it is in a position to continue its activities at a consistent level and to cover contingencies.

The present level of funding is adequate to support the continuation of the charity's activities.

Future plans

The trustees plan to continue their work to advance Jewish religious education through modern methods of communication, advance education of the public in any part of the world in the knowledge of the Jewish religion and Jewish history and culture and other purposes as are for the public benefit and are charitable according to English law.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2021

The charity is constituted as a company limited by guarantee and as such its governing documents are its Memorandum and its Articles of Association.

Recruitment and appointment of new trustees

The first trustees shall be those persons appointed as directors of the Company on its incorporation. Thereafter the trustees shall be appointed in accordance with the provisions of the articles.

The Trustees may appoint any individual aged 16 years or over, who is not disqualified from directorship or otherwise disqualified from charity trusteeship, to be a Trustee, either to fill a vacancy amongst the Trustees or as an additional Trustee, provided that the appointment does not cause the number of Trustees to exceed any maximum number for the time being in force pursuant to the provisions of the Articles.

Risk management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07948381 (England and Wales)

Registered Charity number

1151408

Registered office

First Floor, Winston House 349 Regents Park Road London N3 1DH

Trustees

Mrs S Teacher Mr J Kett Mr B Levine Mr D J Bloom Mrs J Kanzen Mr D S Teacher Mrs J Myers Mr C Wagman

Independent Examiner

Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30 November 2021 and signed on the board's behalf by:

Mrs J Kanzen - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF JEWISH INTERACTIVE LIMITED (REGfSTERED NUMBER: 07948381) Independent examiner's report to the trustees of Jewish Interartive Limited ('the Company.) I report to the charity trustees on tny exafflination of the accounts of the Company for the year ended 28 February 2021. Responsibilities and basis of report As the charivs trustees of the Company (and also its directors for the purpose5 of cotnpany lawl you are responsible for the preparation of the a￿oUnts in accordance with the requirement5 of the Companies Act 20061.the 2006 Att'l. Having satisfied myself that the account5 of the Cornpany are not required to be audited under Part 16 01 the 2006 Act and are eligible lor independent exarnination, I report in r￿pect of my examlnation of your charity'5 accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Oirections glven by the Charity Commission under section 145151 Ib) of the 2011 Act. Independent examiner's statement since your charity's gross Income exceeded E250,000 your examiner must be a member of a listed tody. I can confirm that l am qualified to undertake the exarnination because I arn a ￿gIStered member of the Institute ol Chartered Accountants In Englènd and Wales which is one of the listed bodies. I have cornpleted rny exarrinatron. I confimi that no matters have come to tny attenbon in connection with the examlnatlon giving rne cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Att. or the accounts do not accord with thoE records,. or the accounts do not cotnply with the accounting ￿quirementS of sectlon 396 of the 2006 Act other than any requiretnent that the accounts give a true and fair view which is not a rnatter considered as part of an Independent examination,. or tIE accounts have rx)t been prepared In accordance with the methods and principles ol the Ststement of RecomffleTKled practi￿ for accounting and rewrting by charities (appI￿able to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Repuilic of Ireland {FRS 102)}. I have no concerns and have come across no other matters in connection with the examinatlon to which attentK)n should be drawn in this report In older to enable a proper understanding of the accounts to be reached. Danny FSne, FCA Melinek Flne LLP Chartered Accountants First Floor, Winston House 349 Regents Park Ro London N3 IDH 30 November 2021 Page 3

JEWISH INTERACTIVE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2021

Unrestricted
Restricted
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
280,593
505,912
Other trading activities
3
147,002
-
Total
427,595
505,912
EXPENDITURE ON
Raising funds
4
7,511
-
Charitable activities
5
Charitable activities
406,850
6,988
Total
414,361
6,988
NET INCOME/(EXPENDITURE)
13,234
498,924
RECONCILIATION OF FUNDS
Total funds brought forward
7,881
89,441
TOTAL FUNDS CARRIED FORWARD
21,115
588,365		 2021
Total
funds
£
786,505
147,002
933,507
7,511
413,838
421,349
512,158
97,322
609,480		 2020
Total
funds
£
494,786
36,083
530,869
9,444
546,152
555,596
(24,727)
122,049
97,322

The notes form part of these financial statements

Page 4

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

BALANCE SHEET 28 FEBRUARY 2021

Notes
FIXED ASSETS
Intangible assets
12
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
16
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
52,944
2,401
55,345
418
36,668
37,086
(58,666)
(21,580)
33,765
(12,650)
21,115		 Restricted
fund
£
447,941
-
447,941
-
140,424
140,424
-
140,424
588,365
-
588,365		 2021
Total
funds
£
500,885
2,401
503,286
418
177,092
177,510
(58,666)
118,844
622,130
(12,650)
609,480
21,115
588,365
609,480		 2020
Total
funds
£
13,565
2,952
16,517
17,931
138,985
156,916
(7,111)
149,805
166,322
(69,000)
97,322
7,881
89,441
97,322

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2021 and were signed on its behalf by:

Mrs J Kanzen - Trustee

The notes form part of these financial statements

Page 5

JEWISH INTERACTIVE LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2021
£
526,870
526,870
(487,320)
(1,443)
(488,763)
-
-
38,107
138,985
**177,092 **		 2020
£
(34,040)
(34,040)
(13,565)
(3,439)
(17,004)
69,000
69,000
17,956
121,029
138,985

The notes form part of these financial statements

Page 6

JEWISH INTERACTIVE LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021

1.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW
ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by/(used in) operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.3.20
£
Net cash
Cash at bank
138,985
138,985
Debt
Debts falling due within 1 year
-
Debts falling due after 1 year
(69,000)
(69,000)
Total
69,985		 1.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW
ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by/(used in) operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.3.20
£
Net cash
Cash at bank
138,985
138,985
Debt
Debts falling due within 1 year
-
Debts falling due after 1 year
(69,000)
(69,000)
Total
69,985		 FROM OPERATING
2021
2020
£
£
512,158
(24,727)
1,994
1,732
-
962
17,513
(17,453)
(4,795)
5,446
526,870
(34,040)
Cash flow
At 28.2.21
£
£
38,107
177,092
38,107
177,092
(56,350)
(56,350)
56,350
(12,650)
-
(69,000)
38,107
108,092

The notes form part of these financial statements

Page 7

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on educational software development is written off as incurred. Its value is not recognised until it is realised. Any income arising from the use or sales of such software is recognised on receipt. This is a change in accounting policy and has resulted in the comparative figures being restated.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 8

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

2.
DONATIONS AND LEGACIES
Donations
Gift aid
Fundraising events
Grants
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Charitable activities
4.
RAISING FUNDS
Raising donations and legacies
Events
5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Charitable activities
289,798
6.
GRANTS PAYABLE
Charitable activities		 Grant
funding of
activities
(see note
6)
£
80,467		 2021
£
77,960
6,233
-
702,312
786,505
2021
£
702,312
2021
£
147,002
2021
£
7,511
Support
costs (see
note 7)
£
43,573
2021
£
**80,467 **		 2020
£
65,065
13,886
46,965
368,870
494,786
2020
£
368,870
2020
£
36,083
2020
£
9,444
Totals
£
413,838
2020
£
125,003

Grants to institutions are comprised of grants to Jewish Interactive in America.

continued...

Page 9

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

JEWISH INTERACTIVE LIMITED

7. SUPPORT COSTS

Management
£
Charitable activities
36,826
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets		 Governance
Finance
costs
£
£
354
6,393
2021
£
1,994
-		 Totals
£
43,573
2020
£
1,733
962

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 28 February 2021 nor for the year ended 29 February 2020.

10. STAFF COSTS

2021 2020
£ £
Wages and salaries 189,728 211,460
Social security costs 21,843 20,684
Other pension costs **3,764 ** 3,975
215,335 236,119
The average monthly number of employees during the year was as follows:
2021 2020
Employees 3 4
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2021 2020
£80,001 - £90,000 1 -
£100,001 to £110,000 - 1
1 1

continued...

Page 10

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
359,334
Other trading activities
36,083
Total
395,417
EXPENDITURE ON
Raising funds
9,444
Charitable activities
Charitable activities
488,317
Total
497,761
NET INCOME/(EXPENDITURE)
(102,344)
RECONCILIATION OF FUNDS
Total funds brought forward
110,225
TOTAL FUNDS CARRIED FORWARD
7,881
12.
INTANGIBLE FIXED ASSETS
COST
At 1 March 2020
Additions
At 28 February 2021
NET BOOK VALUE
At 28 February 2021
At 29 February 2020		 Restricted
Total
fund
funds
£
£
135,452
494,786
-
36,083
135,452
530,869
-
9,444
57,835
546,152
57,835
555,596
77,617
(24,727)
11,824
122,049
89,441
97,322
Development
costs
£
13,565
487,320
500,885
500,885
13,565

continued...

Page 11

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

13. TANGIBLE FIXED ASSETS

COST
At 1 March 2020
Additions
At 28 February 2021
DEPRECIATION
At 1 March 2020
Charge for year
At 28 February 2021
NET BOOK VALUE
At 28 February 2021
At 29 February 2020
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 17)
Social security and other taxes
Pensions
Accruals and deferred income
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 17)
Other loans (see note 17)		 Computer
equipment
£
19,700
1,443
21,143
16,748
1,994
18,742
2,401
2,952
2021
2020
£
£
-
17,500
418
431
418
17,931
2021
2020
£
£
56,350
-
(487)
5,506
1,842
645
961
960
58,666
7,111
2021
2020
£
£
12,650
-
-
69,000
12,650
69,000

continued...

Page 12

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

17. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
18.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.3.20
£
7,881
89,441
97,322
Incoming
resources
£
427,595
505,912
933,507		 2021
£
56,350
12,650
-
12,650
-
Net
movement
in funds
£
13,234
498,924
512,158
Resources
expended
£
(414,361)
(6,988)
**(421,349) **		 2020
£
-
-
56,350
56,350
12,650
At
28.2.21
£
21,115
588,365
609,480
Movement
in funds
£
13,234
498,924
512,158

continued...

Page 13

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.3.19
£
Unrestricted funds
General fund
110,225
Restricted funds
Restricted fund
11,824
TOTAL FUNDS
122,049
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
395,417
Restricted funds
Restricted fund
135,452
TOTAL FUNDS
530,869		 Net
movement
At
in funds
29.2.20
£
£
(102,344)
7,881
77,617
89,441
(24,727)
97,322
Resources
Movement
expended
in funds
£
£
(497,761)
(102,344)
(57,835)
77,617
(555,596)
(24,727)

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 28 February 2021.

Page 14