REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
FOR THE YEAR ENDED |
31 December 2023 |
for |
JEWISH INTERACTIVE LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
FOR THE YEAR ENDED |
31 December 2023 |
for |
JEWISH INTERACTIVE LIMITED |
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 |
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. |
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381) |
Report of the Trustees |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
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 |
Registered Charity number |
Registered office |
Trustees |
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 |
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 2023. |
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 |
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 |
3. | 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 |
4. | 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 |
30 October 2024 |
JEWISH INTERACTIVE LIMITED |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
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 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 18 | 63,481 | (63,481 | ) | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | ( |
) | 1,691,581 |
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381) |
Balance Sheet |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
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 | ( |
) | 3,218 |
Restricted funds | 1,688,363 |
TOTAL FUNDS | 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. |
JEWISH INTERACTIVE LIMITED (REGISTERED NUMBER: 07948381) |
Balance Sheet - continued |
31 DECEMBER 2023 |
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 |
JEWISH INTERACTIVE LIMITED |
Cash Flow Statement |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (65,855 | ) | 591,343 |
Net cash (used in)/provided by operating activities | (65,855 | ) | 591,343 |
Cash flows from investing activities |
Purchase of intangible fixed assets | (114,417 | ) | (584,780 | ) |
Purchase of tangible fixed assets | - | (2,878 | ) |
Interest received | 77 | 142 |
Net cash used in investing activities | (114,340 | ) | (587,516 | ) |
Change in cash and cash equivalents in the reporting period |
(180,195 |
) |
3,827 |
Cash and cash equivalents at the beginning of the reporting period |
184,368 |
180,541 |
Cash and cash equivalents at the end of the reporting period |
4,173 |
184,368 |
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 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 | ) |
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 | - |
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. |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Gift aid |
Grants |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Other grants | 54,308 | 859,984 |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Charitable activities | - | 12,699 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
5. | RAISING FUNDS |
Raising donations and legacies |
2023 | 2022 |
£ | £ |
Events | 6,155 | 10,088 |
6. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 7) | Totals |
£ | £ | £ |
Charitable activities | 147,929 | 185,947 | 333,876 |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Charitable activities | 182,295 | 120 | 3,532 | 185,947 |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
Development costs amortisation |
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 |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
98,894 | 207,407 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Employees |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
2023 | 2022 |
£60,001 - £70,000 |
£70,001 - £80,000 |
1 | 2 |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2,925 | 1,090,379 |
TOTAL FUNDS CARRIED FORWARD | 3,218 | 1,688,363 | 1,691,581 |
12. | INTANGIBLE FIXED ASSETS |
Development |
costs |
£ |
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 |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
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 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments and accrued income | ( |
) |
Prepayments |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 17) |
Social security and other taxes |
Pensions | (10 | ) | 814 |
Net wages | 17,875 | - |
Accruals and deferred income |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 17) |
17. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
18. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 3,218 | (86,149 | ) | 63,481 | (19,450 | ) |
Restricted funds |
Restricted fund | 1,688,363 | (151,610 | ) | (63,481 | ) | 1,473,272 |
TOTAL FUNDS | (237,759 | ) | 1,453,822 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 102,272 | (188,421 | ) | (86,149 | ) |
Restricted funds |
Restricted fund | - | (151,610 | ) | (151,610 | ) |
TOTAL FUNDS | ( |
) | (237,759 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,925 | 293 | 3,218 |
Restricted funds |
Restricted fund | 1,090,379 | 597,984 | 1,688,363 |
TOTAL FUNDS | 1,093,304 | 598,277 | 1,691,581 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 256,626 | (256,333 | ) | 293 |
Restricted funds |
Restricted fund | 646,547 | (48,563 | ) | 597,984 |
TOTAL FUNDS | 903,173 | (304,896 | ) | 598,277 |
JEWISH INTERACTIVE LIMITED |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | RELATED PARTY DISCLOSURES |
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. |