REGISTERED COMPANY NUMBER: 07948381 (England and Wales) REGISTERED CHARITY NUMBER: 1151408
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 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 PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Cash Flow Statement | 7 |
| Notes to the Cash Flow Statement | 8 |
| Notes to the Financial Statements | 9 to 15 |
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 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 period 1 March 2021 to 31 December 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.
ACHIEVEMENT AND PERFORMANCE
CEO summary
Since March 2021, Jewish Interactive has consolidated its position as a leading resource for online and hybrid learning to inspire, connect and motivate the next generation.
The development and testing of Ji's new learning platform Jigzi has continued with positive feedback on the test version, leading up to a beta launch in 2022 and a full launch in 2023.
Activities in 2021 were focused on continuing our vital support for educators and students during the transformational period for education resulting from the effects of the Covid pandemic.
We had another even more successful crowdfunding campaign, proving continuing public support for Jewish Interactive and its mission.
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.
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JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 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 Mrs J Myers Mr C Wagman
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
31/10/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Mr D J Bloom - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JEWISH INTERACTIVE LIMrrED (REGISTERED NUMBER: 07948381) Independent examiner's report to the trustees of Jewish Interactive Limlted ('the Companv'l I report to the charity trustees on my examination of the accounts of the Company ft>r the period l March 2021 to 31 Drnber 20211 Responsibilities and basls of report As the charity's trustees of the Company land also its dirtorS for the purposes of company lawl you are responsible for the preparation ol the accounts in accordance with the requirements ol the Companles Act 20061'the 2006 Act'l. Having satisfied rnyself that the accounts of the Q)mpany are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I rew>rt in respett of my examination ol your charity's accounts as carried otst under section 145 of the Charities Act 2011 ('the 2011 ACV). In Carrying out my examinatk)n I have followed the Directions given by the Charity Cornmission under sectlon 145{5) (bl ol the 2011 Act. Xndependent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a metnber of a listed dy. I can confimi that I arn qualified to undertake the exarnination because l am a registered member of the Institute of Chartered Accountants in England and Wales which 15 one of the listed bodles. I have compted my examinèts'on. I confirm that no matter5 have corne to my attenon in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Cornpany as requlred by section 386 of the 2006 Art; or the accounts do not accord with those records,. or the accounts do not comply with the accountSng requSrements of section 396 of the 2006 Act other than any requirement that the accounts give a true and falr view which 15 not a matter consldered as part of an independent examinatK)n' or the account5 have not been prepared Sn acctsrdance with the methods and principles of the Staternent of Recorntnended Practice for accounting and reporting by charities {appllcable to charities preparing their accounts n dcordantr with the FinancSal Reporting Stsndard applicable in the UK and Republic OF Ireland {FRS 102)). I have no concerns and have come atross no other Matters in connection with the examlnation to whlch attenuon should tE drawn in thls report in order to enable a proper understanding of the accounts to be reached. Danny Fine, FCA Melinek Fine LLP Charterd Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH Date.. Page 3
JEWISH INTERACTIVE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Charitable activities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 284,317 18,213 302,530 6,605 314,115 320,720 (18,190) 21,115 2,925 |
Restricted fund £ 521,756 - 521,756 - 19,742 19,742 502,014 588,365 1,090,379 |
Period 1.3.21 to Year Ended 31.12.21 28.2.21 Total Total funds funds £ £ 806,073 786,505 18,213 147,002 824,286 933,507 6,605 7,511 333,857 413,838 340,462 421,349 483,824 512,158 609,480 97,322 1,093,304 609,480 |
|---|---|---|---|
The notes form part of these financial statements
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JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
BALANCE SHEET 31 DECEMBER 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 £ 58,535 1,324 59,859 895 14,179 15,074 (59,358) (44,284) 15,575 (12,650) 2,925 |
Restricted fund £ 924,017 - 924,017 - 166,362 166,362 - 166,362 1,090,379 - 1,090,379 |
2021 Total funds £ 982,552 1,324 983,876 895 180,541 181,436 (59,358) 122,078 1,105,954 (12,650) 1,093,304 2,925 1,090,379 1,093,304 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
BALANCE SHEET - continued 31 DECEMBER 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2021 and were signed on its behalf by:
............................................. Mr D J Bloom - Trustee
The notes form part of these financial statements
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JEWISH INTERACTIVE LIMITED
CASH FLOW STATEMENT
FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of intangible fixed assets Purchase of tangible fixed assets Net cash used in investing 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 |
Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 486,381 526,870 486,381 526,870 (481,667) (487,320) (1,265) (1,443) (482,932) (488,763) 3,449 38,107 177,092 138,985 180,541 177,092 |
|---|---|
The notes form part of these financial statements
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JEWISH INTERACTIVE LIMITED
NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
| 1. | RECONCILIATION OF NET INCOME TO NET CASH | FLOW FROM OPERATING ACTIVITIES | FLOW FROM OPERATING ACTIVITIES | FLOW FROM OPERATING ACTIVITIES |
|---|---|---|---|---|
| Period | ||||
| 1.3.21 | ||||
| to | Year Ended | |||
| 31.12.21 | 28.2.21 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of | ||||
| Financial Activities) | 483,824 | 512,158 | ||
| Adjustments for: | ||||
| Depreciation charges | 2,342 | 1,994 | ||
| (Increase)/decrease in debtors | (477) | 17,513 | ||
| Increase/(decrease) in creditors | **692 ** | (4,795) | ||
| Net cash provided by operations | 486,381 | 526,870 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.3.21 | Cash flow | At 31.12.21 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | **177,092 ** | 3,449 | 180,541 | |
| 177,092 | 3,449 | 180,541 | ||
| Debt | ||||
| Debts falling due within 1 year | (56,350) | - | (56,350) | |
| Debts falling due after 1 year | (12,650) | - | **(12,650) ** | |
| (69,000) | - | **(69,000) ** | ||
| Total | **108,092 ** | 3,449 | 111,541 |
The notes form part of these financial statements
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 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...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
2. DONATIONS AND LEGACIES
| Donations Gift aid 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 266,785 |
Grant funding of activities (see note 6) £ 17,859 |
Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 158,681 77,960 - 6,233 647,392 702,312 806,073 786,505 Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 647,392 702,312 Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 18,213 147,002 Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 6,605 7,511 Support costs (see note 7) Totals £ £ 49,213 **333,857 ** |
|---|---|---|
continued...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
6. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| Period | ||
| 1.3.21 | ||
| to | Year Ended | |
| 31.12.21 | 28.2.21 | |
| £ | £ | |
| Charitable activities | 17,859 | 80,467 |
Grants to institutions are comprised of grants to Jewish Interactive in America.
7. SUPPORT COSTS
| Management £ Charitable activities 39,653 |
Governance Finance costs £ £ 177 9,383 |
Totals £ 49,213 |
|---|---|---|
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Period | ||
|---|---|---|
| 1.3.21 | ||
| to | Year Ended | |
| 31.12.21 | 28.2.21 | |
| £ | £ | |
| Depreciation - owned assets | 2,342 | 1,994 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2021 nor for the year ended 28 February 2021.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2021 nor for the year ended 28 February 2021.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
Period 1.3.21 to Year Ended 31.12.21 28.2.21 £ £ 199,561 189,728 18,387 21,843 4,013 3,764 221,961 215,335 |
|---|---|
The average monthly number of employees during the period was as follows:
Employees
| Period | |
|---|---|
| 1.3.21 | |
| to | Year Ended |
| 31.12.21 | 28.2.21 |
| 4 | 3 |
continued...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
10. STAFF COSTS - continued
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| Period | |||||
|---|---|---|---|---|---|
| 1.3.21 | |||||
| to | Year Ended | ||||
| 31.12.21 | 28.2.21 | ||||
| £70,001 - £80,000 | 1 | - | |||
| £80,001 - £90,000 | - | 1 | |||
| 1 | 1 | ||||
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total |
|||
| fund | fund | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 280,593 | 505,912 | 786,505 | ||
| Other trading activities | 147,002 | - | 147,002 | ||
| Total | 427,595 | 505,912 | 933,507 | ||
| EXPENDITURE ON | |||||
| Raising funds | 7,511 | - | 7,511 | ||
| Charitable activities | |||||
| Charitable activities | 406,850 | 6,988 | 413,838 | ||
| Total | 414,361 | 6,988 | 421,349 | ||
| NET INCOME | 13,234 | 498,924 | 512,158 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 7,881 | 89,441 | 97,322 | ||
| TOTAL FUNDS CARRIED FORWARD | 21,115 | 588,365 | 609,480 | ||
| 12. | INTANGIBLE FIXED ASSETS | ||||
| Development | |||||
| costs | |||||
| £ | |||||
| COST | |||||
| At 1 March 2021 | 500,885 | ||||
| Additions | **481,667 ** | ||||
| At 31 December 2021 | 982,552 | ||||
| NET BOOK VALUE | |||||
| At 31 December 2021 | **982,552 ** | ||||
| At 28 February 2021 | 500,885 |
continued...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
13. TANGIBLE FIXED ASSETS
| COST At 1 March 2021 Additions At 31 December 2021 DEPRECIATION At 1 March 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 28 February 2021 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 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) 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 |
Computer equipment £ 21,143 1,265 22,408 18,742 2,342 21,084 1,324 2,401 2021 2021 £ £ 895 418 2021 2021 £ £ 56,350 56,350 - (487) 1,869 1,842 1,139 961 59,358 58,666 2021 2021 £ £ 12,650 12,650 2021 2021 £ £ 56,350 56,350 12,650 12,650 |
|---|---|
continued...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
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 1.3.21 £ 21,115 588,365 609,480 Incoming resources £ 302,530 521,756 824,286 |
Net movement At in funds 31.12.21 £ £ (18,190) 2,925 502,014 1,090,379 483,824 1,093,304 Resources Movement expended in funds £ £ (320,720) (18,190) (19,742) 502,014 (340,462) 483,824 |
|---|---|---|
| Comparatives for movement in funds At 1.3.20 £ Unrestricted funds General fund 7,881 Restricted funds Restricted fund 89,441 TOTAL FUNDS 97,322 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 427,595 Restricted funds Restricted fund 505,912 TOTAL FUNDS 933,507 |
Net movement At in funds 28.2.21 £ £ 13,234 21,115 498,924 588,365 512,158 609,480 Resources Movement expended in funds £ £ (414,361) 13,234 (6,988) 498,924 (421,349) 512,158 |
|---|---|
continued...
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JEWISH INTERACTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2021 TO 31 DECEMBER 2021
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2021.
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