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← Jewish Interactive Limited

2022-12-31-accounts

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

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 31 DECEMBER 2022

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 YEAR ENDED 31 DECEMBER 2022

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 31 December 2022. 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

In 2022 Jewish Interactive continued to provide schools, teachers, children and families with cutting-edge advanced online teaching and learning tools, inspiring their Jewish education.

In mid-2022 the CEO who had been in place for the last 10 years stepped down and was replaced by a new CEO (who was previously Ji's COO for 3.5 years prior).

Ji's new edtech platform has grown in traction as further development continued with the addition of new features and content based on user needs.

2022 activities focused on supporting educators with edtech training and guidance based around the new platform as well as on Ji's many other products.

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 31 DECEMBER 2022

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 (resigned 14.11.22) Mrs J Myers Mr C Wagman (resigned 14.11.22)

Independent Examiner

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

Approved by order of the board of trustees on 31 October 2023 and signed on its behalf by:

Mr D J Bloom - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

Independent examiner's report to the trustees of Jewish Interactive Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Danny Fine, FCA

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

31 October 2023

Page 3

JEWISH INTERACTIVE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable activities
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
243,918
12,699
9
256,626
10,088
246,245
256,333
293
2,925
3,218		 Restricted
fund
£
646,414
-
133
646,547
-
48,563
48,563
597,984
1,090,379
1,688,363		 year ended
31.12.22

Total
funds
£
890,332
12,699
142
903,173
10,088
294,808
304,896
598,277
1,093,304
1,691,581		 period
1.3.21
to
31.12.21
Total
funds
£
806,073
18,213
-
824,286
6,605
333,857
340,462
483,824
609,480
1,093,304

The notes form part of these financial statements

Page 4

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

BALANCE SHEET 31 DECEMBER 2022

Notes
FIXED ASSETS
Intangible assets
13
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
17
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
58,535
673
59,208
896
6,469
7,365
(58,305)
(50,940)
8,268
(5,050)
3,218		 Restricted
fund
£
1,508,797
1,667
1,510,464
-
177,899
177,899
-
177,899
1,688,363
-
1,688,363		 2022
Total
funds
£
1,567,332
2,340
1,569,672
896
184,368
185,264
(58,305)
126,959
1,696,631
(5,050)
1,691,581
3,218
1,688,363
1,691,581		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 5

JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)

BALANCE SHEET - continued 31 DECEMBER 2022

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 2023 and were signed on its behalf by:

Mr D J Bloom - Trustee

The notes form part of these financial statements

Page 6

JEWISH INTERACTIVE LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

year ended
31.12.22
Notes
£
Cash flows from operating activities
Cash generated from operations
1
591,343
Net cash provided by operating activities
591,343
Cash flows from investing activities
Purchase of intangible fixed assets
(584,780)
Purchase of tangible fixed assets
(2,878)
Interest received
142
Net cash used in investing activities
(587,516)
Change in cash and cash equivalents in
the reporting period
3,827
Cash and cash equivalents at the
beginning of the reporting period
180,541
Cash and cash equivalents at the end of
the reporting period
184,368		 period
1.3.21
to
31.12.21
£
486,381
486,381
(481,667)
(1,265)
-
(482,932)
3,449
177,092
180,541

The notes form part of these financial statements

Page 7

JEWISH INTERACTIVE LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS		 year ended
31.12.22
£
598,277
1,862
(142)
-
(8,654)
591,343		 period
1.3.21
to
31.12.21
£
483,824
2,342
-
(477)
692
486,381
Net cash
Cash at bank
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1.1.22
£
180,541
180,541
(56,350)
(12,650)
(69,000)
111,541		 Cash flow
At 31.12.22
£
£
3,827
184,368
3,827
184,368
-
(56,350)
7,600
(5,050)
7,600
(61,400)
11,427
122,968

The notes form part of these financial statements

Page 8

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 9

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. DONATIONS AND LEGACIES

year ended
31.12.22
£
Donations
29,827
Gift aid
521
Grants
859,984
890,332
Grants received, included in the above, are as follows:
year ended
31.12.22
£
Other grants
859,984
3.
OTHER TRADING ACTIVITIES
year ended
31.12.22
£
Charitable activities
12,699
4.
INVESTMENT INCOME
year ended
31.12.22
£
Deposit account interest
142
5.
RAISING FUNDS
Raising donations and legacies
year ended
31.12.22
£
Events
10,088		 period
1.3.21
to
31.12.21
£
158,681
-
647,392
806,073
period
1.3.21
to
31.12.21
£
647,392
period
1.3.21
to
31.12.21
£
18,213
period
1.3.21
to
31.12.21
£
-
period
1.3.21
to
31.12.21
£
6,605

continued...

Page 10

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

JEWISH INTERACTIVE LIMITED

6. CHARITABLE ACTIVITIES COSTS

Charitable activities
7.
GRANTS PAYABLE
Charitable activities		 Support
Direct
costs (see
Costs
note 8)
£
£
261,402
33,406
year ended
31.12.22
£
-		 Totals
£
294,808
period
1.3.21
to
31.12.21
£
17,859

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

8. SUPPORT COSTS

Management
£
Charitable activities
31,420		 Governance
Finance
costs
£
£
168
1,818		 Totals
£
33,406

9. NET INCOME/(EXPENDITURE)

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

period
1.3.21
year ended to
31.12.22 31.12.21
£ £
Depreciation - owned assets **1,862 ** 2,342

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the period ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the period ended 31 December 2021.

continued...

Page 11

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

11. STAFF COSTS

year ended
31.12.22
£
Wages and salaries
185,769
Social security costs
18,247
Other pension costs
3,391
207,407
The average monthly number of employees during the year was as follows:
year ended
31.12.22
Employees
4		 period
1.3.21
to
31.12.21
£
199,561
18,387
4,013
221,961
period
1.3.21
to
31.12.21
4
The number of employees whose employee benefits (excluding employer pension The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
period
1.3.21
year ended to
31.12.22 31.12.21
£60,001 - £70,000 1 -
£70,001 - £80,000 1 1
2 1
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 284,317 521,756 806,073
Other trading activities 18,213 - 18,213
Total 302,530 521,756 824,286
EXPENDITURE ON
Raising funds 6,605 - 6,605
Charitable activities
Charitable activities 314,115 19,742 333,857
Total 320,720 19,742 340,462
NET INCOME/(EXPENDITURE) (18,190) 502,014 483,824
RECONCILIATION OF FUNDS
Total funds brought forward 21,115 588,365 609,480

continued...

Page 12

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
TOTAL FUNDS CARRIED FORWARD
2,925
1,090,379
13.
INTANGIBLE FIXED ASSETS
COST
At 1 January 2022
Additions
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
14.
TANGIBLE FIXED ASSETS
COST
At 1 January 2022
Additions
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Prepayments
896
Total
funds
£
1,093,304
Development
costs
£
982,552
584,780
1,567,332
1,567,332
982,552
Computer
equipment
£
22,408
2,878
25,286
21,084
1,862
22,946
2,340
1,324
2021
£
895

continued...

Page 13

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 18)
Pensions
Accruals and deferred income
17.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 18)
18.
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
19.
MOVEMENT IN FUNDS
At 1.1.22
£
Unrestricted funds
General fund
2,925
Restricted funds
Restricted fund
1,090,379
TOTAL FUNDS
1,093,304
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
256,626
Restricted funds
Restricted fund
646,547
TOTAL FUNDS
903,173		 2022
£
56,350
814
1,141
58,305
2022
£
5,050
2022
£
56,350
5,050
Net
movement
in funds
£
293
597,984
598,277
Resources
expended
£
(256,333)
(48,563)
**(304,896) **		 2021
£
56,350
1,869
1,139
59,358
2021
£
12,650
2021
£
56,350
12,650

At
31.12.22
£
3,218
1,688,363
1,691,581

Movement

in funds
£
293
597,984
598,277


continued...

Page 14

JEWISH INTERACTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.3.21
£
Unrestricted funds
General fund
21,115
Restricted funds
Restricted fund
588,365
TOTAL FUNDS
609,480
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
302,530
Restricted funds
Restricted fund
521,756
TOTAL FUNDS
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

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

Page 15