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 2023
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 2023
| 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 |
| Detailed Statement of Financial Activities | 16 to 17 |
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023. 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
2023 Jewish Interactive (Ji) continued to lead the way in Jewish educational technology, providing dynamic tools and training to schools, teachers, children and families.
Ji's focus has been to harness the potential of its new edtech platform, investing in development, marketing and training.
World events have presented additional challenges which Ji has steered through, navigating complex pressures experienced by many Jewish organisations.
Overall engagement and demand for Ji's services has grown significantly in this period with many new users and partnerships created.
Internal and external factors
There are no specific factors to report.
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.
The charity is constituted as a company limited by guarantee and as such its governing documents are its Memorandum and its Articles of Association.
Page 1
FOR THE YEAR ENDED 31 DECEMBER 2023 srRucfuRE, GOVERPIANCE A14D DIAt4AGEMEifr trust thall be apwintad in 0(£tydan th the The Trustees rnay apyint any inthjual 16 ys or , not (fr4uaThfigJ from dirthf5hlp ry Othe7$e dwualified frcrfn charity trUtsIp. to LE a Tn&ee, eit1 to fill a vKary amow the Twstees or as an addfcThal REFERENCE AND ADMINisfRAIIVE DETAILS Regtst•r•d MpAnY wmb•r 07948381 (EngId and Wales) Regl•t•Md Ch•rlty numb•r 1151408 Flrst Flc¢Jr, win( Ho 349 Regerts Park Roa London N3 IDH S Texher (rengJ 8.2.23) Mr J Kett (in&J 12.8.24) Mr B L&Ane Ireslgned 20.6.23) Mr D J {reslgned 20.4.24) Mrs J Wrs {ned 22.2.24) Mr E J (aFf4nted 18.4.24) Mrn A R Wlnall (akirtAI 15.2.24) indepththit Examlner Mellnek Hne LLP F5rst FI, Win#LM 349 Regts Park Ro N3 IDH MrEJQAd-Tn
Independent Examlner's Report to the Trustees of Jewish Interactive Limlted IReglstered number: 07948381) Independent examiner's report to the trustees of Jewish Interactive Limited ('the Company,) I report to the charity trustees on my exambnation Df the accounts of the Company for the year ended 31 December 2023. Résponslbilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responslble for the preparation of the accounts in accordante with the requlrements of the Companies Act 2006 ('the 2006 Act'l. Having satisfied myself that the aceounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for Independent examlnatlon, I report in respect of rny examination of your chariws accounts as carried out under Section 145 of the a)arltles Act 2011 1.the 2011 Act.). In carrying out my examination I have folltswed the Directions glven by the Charity Commission under seCn 14515) (b) of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attenOn In connection with the examination giving me cause tts believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act- or the accounts do not accord with those records; or the accounts dD not compty with the accounting requlrements of Sectlon 396 of the 2006 Act other than any requirement that the accounts give a true and falr vlew which Is not a matter considered as part of an independent examin3tion,' or the accounts have ncit been prepared In accordance with the methods and principles of the Statement Df Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts In accordance with the Financial Reporting Standard apFlicable in the UK and Republic of Ireland (FRS 102}). I have no concerns and have come across no other matters In connectlon the examlnatlon to whkh attention should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. Danny Fine, FCA Mellnek Rne LLP Chartered AccDuntant5 First Floor, Winston House 349 Regents Park Road London N3 IDH 30 Ottober 2024 Page 3
JEWISH INTERACTIVE LIMITED
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023
| 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/(EXPENDITURE) Transfers between funds 18 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 102,195 - 77 102,272 6,155 182,266 188,421 (86,149) 63,481 (22,668) 3,218 (19,450) |
Restricted fund £ - - - - - 151,610 151,610 (151,610) (63,481) (215,091) 1,688,363 1,473,272 |
2023 Total funds £ 102,195 - 77 102,272 6,155 333,876 340,031 (237,759) - (237,759) 1,691,581 1,453,822 |
2022 Total funds £ 890,332 12,699 142 903,173 10,088 294,808 304,896 598,277 - 598,277 1,093,304 1,691,581 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 4
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381)
Balance Sheet 31 DECEMBER 2023
| 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/(LIABILITIES) 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 £ 58,535 126 58,661 814 4,173 4,987 (78,048) (73,061) (14,400) (5,050) (19,450) |
Restricted fund £ 1,472,438 834 1,473,272 - - - - - 1,473,272 - 1,473,272 |
2023 Total funds £ 1,530,973 960 1,531,933 814 4,173 4,987 (78,048) (73,061) 1,458,872 (5,050) 1,453,822 (19,450) 1,473,272 1,453,822 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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...
Page 5
31 DECEMBER 2023 subject to the gnal Compan regyr The fina
JEWISH INTERACTIVE LIMITED
Cash Flow Statement FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of intangible fixed assets Purchase of tangible fixed assets Interest received 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 |
2023 £ (65,855) (65,855) (114,417) - 77 (114,340) (180,195) 184,368 4,173 |
2022 £ 591,343 591,343 (584,780) (2,878) 142 (587,516) 3,827 180,541 184,368 |
|---|---|---|
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 2023
| 1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW | FROM OPERATING | FROM OPERATING |
|---|---|---|---|---|
| ACTIVITIES | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Net (expenditure)/income for the reporting period (as | per the | |||
| Statement of Financial Activities) | (237,759) | 598,277 | ||
| Adjustments for: | ||||
| Depreciation charges | 152,157 | 1,862 | ||
| Interest received | (77) | (142) | ||
| Decrease in debtors | 82 | - | ||
| Increase/(decrease) in creditors | 19,742 | (8,654) | ||
| Net cash (used in)/provided by operations | (65,855) | 591,343 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) | |||
| At 1.1.23 | Cash flow | At 31.12.23 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 184,368 | (180,195) | 4,173 | |
| 184,368 | (180,195) | 4,173 | ||
| Debt | ||||
| Debts falling due within 1 year | (56,350) | - | (56,350) | |
| Debts falling due after 1 year | (5,050) | - | (5,050) | |
| (61,400) | - | (61,400) | ||
| Total | 122,968 | (180,195) | (57,227) |
The notes form part of these financial statements
Page 8
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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.
2. DONATIONS AND LEGACIES
| Donations Gift aid Grants |
2023 £ 44,074 3,813 54,308 102,195 |
2022 £ 29,827 521 859,984 890,332 |
|---|---|---|
continued...
Page 9
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 2. DONATIONS AND LEGACIES - continued Grants received, included in the above, are as follows: Other grants 3. OTHER TRADING ACTIVITIES Charitable activities 4. INVESTMENT INCOME Deposit account interest 5. RAISING FUNDS Raising donations and legacies Events 6. CHARITABLE ACTIVITIES COSTS Charitable activities 7. SUPPORT COSTS Management £ Charitable activities 182,295 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Development costs amortisation |
2023 £ 54,308 2023 £ - 2023 £ 77 2023 £ 6,155 Support Direct costs (see Costs note 7) £ £ 147,929 185,947 Governance Finance costs £ £ 120 3,532 2023 £ 1,380 150,776 |
2022 £ 859,984 2022 £ 12,699 2022 £ 142 2022 £ 10,088 Totals £ 333,876 Totals £ 185,947 2022 £ 1,862 - |
|---|---|---|
continued...
Page 10
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees |
2023 £ 91,675 5,490 1,729 98,894 2023 2 |
2022 £ 185,769 18,247 3,391 207,407 2022 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: | |
|---|---|---|---|---|
| 2023 | 2022 | |||
| £60,001 - £70,000 | 1 | 1 | ||
| £70,001 - £80,000 | - | 1 | ||
| 1 | 2 | |||
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| Unrestricted | Restricted |
Total |
||
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 243,918 | 646,414 | 890,332 | |
| Other trading activities | 12,699 | - | 12,699 | |
| Investment income | 9 | 133 | 142 | |
| Total | 256,626 | 646,547 | 903,173 | |
| EXPENDITURE ON | ||||
| Raising funds | 10,088 | - | 10,088 | |
| Charitable activities | ||||
| Charitable activities | 246,245 | 48,563 | 294,808 | |
| Total | 256,333 | 48,563 | 304,896 | |
| NET INCOME | 293 | 597,984 | 598,277 |
continued...
Page 11
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ RECONCILIATION OF FUNDS Total funds brought forward 2,925 1,090,379 TOTAL FUNDS CARRIED FORWARD 3,218 1,688,363 12. INTANGIBLE FIXED ASSETS COST At 1 January 2023 Additions At 31 December 2023 AMORTISATION Charge for year NET BOOK VALUE At 31 December 2023 At 31 December 2022 13. TANGIBLE FIXED ASSETS COST At 1 January 2023 and 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Total funds £ 1,093,304 1,691,581 Development costs £ 1,567,332 114,417 1,681,749 150,776 1,530,973 1,567,332 Computer equipment £ 25,286 22,946 1,380 24,326 960 2,340 |
|---|---|
continued...
Page 12
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income Prepayments 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Social security and other taxes Pensions Net wages Accruals and deferred income 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN 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 18. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 3,218 Restricted funds Restricted fund 1,688,363 TOTAL FUNDS 1,691,581 |
ONE YEAR Net movement in funds £ (86,149) (151,610) (237,759) |
2023 £ (82) 896 814 2023 £ 56,350 1,552 (10) 17,875 2,281 78,048 2023 £ 5,050 2023 £ 56,350 5,050 Transfers between funds £ 63,481 (63,481) - |
2022 £ - 896 896 2022 £ 56,350 - 814 - 1,141 58,305 2022 £ 5,050 2022 £ 56,350 5,050 At 31.12.23 £ (19,450) 1,473,272 1,453,822 |
|---|---|---|---|
continued...
Page 13
JEWISH INTERACTIVE LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 102,272 Restricted funds Restricted fund - TOTAL FUNDS 102,272 Comparatives for 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 Comparative 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 |
Resources expended £ (188,421) (151,610) (340,031) Net movement in funds £ 293 597,984 598,277 Resources expended £ (256,333) (48,563) (304,896) |
Movement in funds £ (86,149) (151,610) (237,759) 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 2023
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
20. COMPANY LIMITED BY GUARANTEE
The charity company is limited by guarantee and does not have share capital. The articles of association of the company preclude the distribution of assets to the members of the company and accordingly a reconciliation of shareholders' funds is inappropriate. The liability of each member in the event of a winding up is limited to £1.
Page 15