plc totally
ﬁnancial statements
for the year ended 31 december 2008
for the year ended 31 december 2009
accounts 2009  12410  1619  page 1 accounts 2009  12410  1619  page 2 1
directors’ report and financial statements 
for the year ended 31 december 2009
contents
company information 2
performance highlights 3
chairman’s statement 4
ceo’s statement 5
directors’ report 7
board report on corporate governance 10
statement of directors’ responsibilities 12
independent auditors’ report to the members of totally plc 13
consolidated statement of comprehensive income 15
consolidated statement of changes in equity 16
consolidated statement of financial position 17
company balance sheet 18
consolidated cash flow statement 19
notes to the financial statements 20
notice of annual general meeting 41
accounts 2009  12410  1619  page 3 2
company information
registered office unit 611 highgate studios
5379 highgate road
london
nw5 1tl
registration number 3780101 england and wales
auditors royce peeling green limited
15 buckingham gate
london
sw1e 6lb
nominated adviser and broker merchant john east securities limited
10 finsbury square
london
ec2a 1ad
bankers national westminster bank plc
9 th floor
3 shortlands
hammersmith
london
w6 8da
bank hapoalim bm
25 savile row
london
w1s 2es
registrars capita registrars
the registry
34 beckenham road
beckenham
kent
br3 4tu
accounts 2009  12410  1619  page 4 3
performance highlights
• revenues from continuing operations £176m 4 yryr 2008 £169m
• operating profit from continuing operations before tax £014m 344 yryr 2008 loss £006m
• total ebitda from continuing operations £017m 666 yryr 2008 loss £003m
• total operating profit from continuing operations before tax and head office charges £043m 65 yryr 2008 £026m
• total ebitda from continuing operations before head office charges was £046m 84 yryr 2008 £025m
• cash generated from operating activities £014m 2008 loss £002m
• basic earnings per share 0002p 2008 loss per share 1p
accounts 2009  12410  1619  page 5 4
chairman’s statement
in an extremely difficult economic environment i am pleased to be able to report an excellent set of results for 2009 the
turnaround in profitability of the group since 2007 has been significant with an improvement of £06m profit from continuing
operations
the group generated revenues from continuing operations of £176m an increase of 4 compared to the previous year
2008£169m and ebitda of £017m 2008 loss £028m an increase of 666 operating profit before tax from
continuing operations of £014m 2008 loss £006m an increase of 344 cash generated from operating activities of
£014m 2008 £002m
i believe this is a truly exceptional achievement in the worst market for many years and is testimony to the group’s strategy
skills of our staff and to the leadership of our business
financial year
operating loss  profit
ebitda
cash generated from operations
nb operating profit and ebitda figures in this illustration exclude noncash charges for share options 2009 £12000 2008
£18000 2007 £21000
prospects
trading since the beginning of the current financial year has been stable and the board is optimistic about the group’s trading
performance for the full year
dr michael sinclair
nonexecutive chairman
12 april 2010
2007
£431000
£160000
£119000
2008
£41000
£10000
£23000
2009
£156000
£185000
£144000
0809 change
£197000
£195000
£121000
0709 change
£587000
£345000
£263000
£20000000
£10000000
£0
£10000000
£20000000
£30000000
£40000000
£50000000
operating profit ebitda cash generated from operations
2009 2008 2007
accounts 2009  12410  1619  page 6 5
ceo’s statement
i was extremely pleased with the trading performance of the group in 2009 in 2007 and 2008 a number of cost cutting
measures were implemented which allowed the business to mitigate the downside of expected tough trading conditions
revenues increased year on year across both divisions in the group the reduction in the cost base combined with the increase
in revenues was responsible for the 344 increase in operating profit before tax and the delivery of the best trading
performance to date
publishing division overview
the jewish news  media group is the umbrella brand for the group’s publishing businesses which include the jewish news
limited and totallyjewishcom limited  
the group publishes on and offline media for the uks jewish community including
• a weekly newspaper ‘jewish news’
• a quarterly lifestyle magazine ‘pulse’
• an annual celebrations magazine ‘totallyjewishsimchas’
• a community portal ‘wwwtotallyjewishcom’
• an annual wedding exhibition www’totallyjewishsimchas live’
performance highlights
• revenues of £1080000  46 yryr
• ebitda of £252000 138 yryr
• operating profit of £228000 192 yryr
operational highlights
this division continued to consolidate its growing reputation as the number one jewish media organisation in the uk
in 2009 an events division was launched through a wedding exhibition totallyjewishsimchascom at the village hotel elstree
herts the exhibition was attended by over 1500 visitors and 80 paying exhibitors
a series of qa sessions with high profile political leaders saw david milliband and boris johnson face questions from over 150
paying jewish news readers and in q1 2010 shadow foreign secretary william hague continued this high profile initiative
an aggressive marketing campaign was launched which included the creation of a new media pack and website
thejngroupcom as well as individual promotional websites for each of the two magazines in the divisions portfolio pulse
wwwjnpulsecouk and tj simchas magazine wwwtjsimchamagcouk a showreel promoting the work of the jn media
group is expected to be launched in q2 2010
outlook for 2010
the aim is to continue to develop and expand the portfolio including the launch of an education exhibition for the jewish
community combined with the annual wedding exhibition the short to medium term objective is to grow the revenue of the
event division for the events division so that it accounts for 10 of the publishing division’s revenues exhibitions are seen as
a growth area and provide a realistic cross selling opportunity to existing clients within the division
the annual celebrations magazine totallyjewishsimchas will be published quarterly the lifestyle magazine pulse is already
published four times a year which will mean eight glossy magazines will be published in 2010
newspaper • magazines • online • events
n
accounts 2009  12410  1619  page 7 ceo’s statement
continued
totally communications “tc” the group’s digital marketing business with three main service sectors
1 website and software design  development
2 consultancy  systems integration
3 online marketing
performance highlights
• revenues of £628000 3 yryr
• ebitda of £210000 12 yryr
• operating profit of £205000 11 yryr
operational highlights
tc were delighted to have won a multiagency pitch for celebrity led charity global cool’s new website launched at 2009
london fashion week
during the period under review tc was selected by jp morgan to construct a significant system for a mentoring charity african
caribbean diversity and other notable new account wins included a new website for the barbarians rugby club and a high
profile online proposition for the ghurkha welfare trust and their debt of honour campaign which was spearheaded by joanna
lumley
significant research and development was undertaken to develop the ‘next generation’ of the division’s proprietary website
content management system ”pelorous” the current inhouse content management system underpins 80 individual
applications and is used daily by over 500 users existing users will be migrated onto pelorous over the next 12 months and
all new clients will have their website developed through the system this will give the division an improved competitive
advantage in tenders by deskilling the development process and reducing the time taken to deliver projects
outlook for 2010
management expect to achieve organic growth in this division in 2010 through the launch of its new search engine marketing
division rise digital wwwrisedigitalcom the development of the rise brand and communication materials was undertaken
in q4 in 2009 and launched in q1 2010
6
digital marketing division overview
accounts 2009  12410  1619  page 8 7
directors’ report 
the directors present their report and the financial statements for the year to 31 december 2009
principal activities
the group’s principal activities have been the provision of digital marketing services and publishing
totally communications limited is a digital marketing agency which has provided website design and development services as
well as more general application development consultancy and internet marketing services
the groups’ publishing division comprises a portfolio of publications which have included the jewish news a weekly newspaper
distributed in london the community website wwwtotallyjewishcom and its various online derivatives as well as an offline
events division
the group continues to consolidate its position as a leading publisher and services provider to the uk jewish community whilst
at the same has started to explore and exploit organic growth opportunities in the digital marketing sector
business review 
the chairman’s statement on page 2 gives a review of the business and the likely future developments the group generated
an operating profit for the year under review of £141000 in the previous year the group made an operating loss for the year
on continuing operations of £59000  
results and dividends 
the results for the year are set out on page 15  
no interim dividend has been paid and the directors do not recommend a final dividend
share capital 
details of the changes in the authorised and the issued share capital are set out in note 18 to the financial statements
accounts 2009  12410  1619  page 9 8
directors’ report 
continued
directors and their interests 
the directors who held office during the year were as follows
substantial interests 
the company has been notified as at 28 march 2010 of the following interests in 3 per cent or more of the ordinary shares
in issue
creditor payment policy
it is the company’s policy to abide by terms of payment agreed with suppliers in many cases the terms of payment are as
stated in the supplier’s own literature in other cases the terms of payment are determined by specific written or oral
agreement the number of supplier days represented by trade creditors at 31 december 2009 was 48 days 2008 75 days
financial instruments
the group’s financial instruments principally comprise bank borrowings it is and has been throughout the period under review
the group’s policy that no trading in financial instruments shall be undertaken
warrants to
subscribe for
ordinary shares
of 1p each held 
31 december 2009  
ordinary shares
of 1p each held
31 december 2009
warrants to
subscribe for
ordinary shares
of 1p each held 
31 december 2008
ordinary shares
of 1p each held 
31 december 2008
9080633
40517825

daniel j assor chief executive
dr michael j sinclair nonexecutive chairman
robin morgan non executive
dr mj sinclairs interests are held by him personally and by sinclair montrose trust limited sinclair montrose trust limited
is a company in which dr mj sinclair and his immediate family have a controlling interest
according to the register of directors’ interests no rights to subscribe for shares in or debentures of the company or any
other group company were granted to any of the directors or their immediate families or exercised by them during the
financial year except as indicated below
2554214
14509791

4088633
40517825

2554214
14509791

at start of year
number of options during the year
grantedsurrendered at end of year
exercise price
pence
date from which
exercisable
1000000
1250000
700000
1000000

3950000
1000000
daniel j assor
robin morgan
dr michael j sinclair
hb markets plc
barclayshare nominees limited
chase nominees limited
mr leopold noe
the zvhilmezbuz rebbe grand rabbi y a korff of boston
l r nominees limited
hsdl nominees limited
td waterhouse nominees europe limited




5450000
3950000
1000000
1000000
1250000
700000
1000000
5450000


15 
362
4375
25
10
2375
21112003
15102006  
18062007
17112008
27072009
16052008
ordinary shares percentage
14509791
10811449
10481000
9872656
6666666
6514000
3955853
3062737
2827373
1578
1176
1139
1074
725
708
430
330
307
accounts 2009  12410  1619  page 10 9
directors’ report 
continued
the main risks arising from the group’s financial instruments are interest rate risk and liquidity risk  the board reviews and
agrees policies for managing each of these risks and they are summarised below  these policies have remained unchanged
throughout the year
interest rate risk
the group finances its operations through a mixture of shareholders’ funds and borrowings  the group borrows principally in
sterling at floating rates of interest  at the year end none of the group’s external borrowings were at fixed rates
liquidity risk
the group’s policy is to maintain a balanced financing structure  any necessary short term flexibility is achieved by the use of
overdraft facilities
political and charitable contributions
the company made neither political contributions nor donations to uk charities during the year  
auditors
the auditors royce peeling green limited have indicated their willingness under section 489 of the companies act 2006 to
continue in office and a resolution that they be reappointed will be proposed at the annual general meeting
by order of the board
dan assor
director
12 april 2010
accounts 2009  12410  1619  page 11 10
board report on corporate governance
for the year ended 31 december 2009
as an aim listed company totally plc is not required to comply with the provisions of the combined code that apply to
companies with a full london stock exchange listing  the board is accountable to the company’s shareholders for good
corporate governance  this statement describes how the principles of corporate governance are applied to the company and
the company’s compliance with the code provisions set out in section 1 of the combined code prepared by the committee
on corporate governance
the workings of the board and its committees
during the year the board comprised the nonexecutive chairman the chief executive and two other nonexecutive directors
the board is responsible to shareholders for the proper management of the group a statement of the directors’
responsibilities in respect of the accounts is set out on page 12
the board has a formal schedule of matters specifically reserved to it for decision it meets at least ten times a year reviewing
trading performance ensuring adequate funding setting and monitoring strategy examining acquisition opportunities and
reporting to shareholders  the nonexecutive chairman has a particular responsibility to ensure that the strategies proposed
by the executive directors are fully considered and also ensures that the directors take independent professional advice as
required
the remuneration committee and the audit committee is comprised exclusively of the nonexecutive chairman and company
secretary during the period they were as follows
dr m j sinclair
p stacey 
remuneration committee
the remuneration committee is responsible for making recommendations to the board within agreed terms of reference on
the company’s framework of executive remuneration and its cost the committee determines the contract terms
remuneration and other benefits for each of the executive directors including performancerelated bonus schemes grant of
share options pension rights and compensation payments  the board itself determines the remuneration of the nonexecutive
directors and company secretary
further details of the company’s policies on remuneration and service contracts are set out on page 11
the only director to receive remuneration in 2009 was dj assor his emoluments consisted only of salary and bonuses totalling
£148000 2008 £125000 no director receives any other benefits or pension contributions
audit committee
the audit committee provides a forum for reporting by the group’s external auditors the committee is responsible for
reviewing a wide range of matters including half year and annual results before their submission to the board and for
monitoring the internal controls that are in force to safeguard shareholders’ investment and the company’s assets the
committee advises the board on the appointment of external auditors and on their remuneration for both audit and nonaudit
work and discusses the nature scope and results of the audit with the external auditors  the committee keeps under review
the cost effectiveness and the independence and objectivity of the external auditors
internal control and risk management
the board is responsible for establishing and maintaining the group’s financial and nonfinancial controls internal control
systems are designed to meet the particular needs of the group and the risks to which it is exposed and by their nature can
provide reasonable but not absolute assurance against material misstatement or loss
the board has overall responsibility for the group and there is a formal schedule of matters specifically reserved for decision
by the board each executive director has responsibility for specific aspects of the group’s affairs the executive directors
constitute the management committee which meets regularly to discuss daytoday operational matters
the key procedures which the directors have established with a view to providing effective internal control are set out below
accounts 2009  12410  1619  page 12 11
board report on corporate governance
continued
corporate accounting and procedures
responsibility levels are communicated throughout the group setting out the ethos of the group delegation of authority and
authorisation levels segregation of duties and other control procedures together with accounting policies and procedures
quality and integrity of personnel
the competence and integrity of personnel are ensured through high recruitment standards and subsequent training high
quality of personnel is seen as an essential part of the control environment
identification of business risks
the board is responsible for identifying the major business risks faced by the group and for determining the appropriate course
of action to manage those risks
budgetary process
each year the board approves the annual budget and key risk areas identified performance is monitored and relevant action
taken throughout the year through the monthly reporting to the board of variances from budget updated forecasts for the year
and information on the key risk areas
investment appraisal
capital expenditure is regulated by the budgetary process and authorisation levels  
going concern
the directors have prepared the financial statements on a going concern basis as explained in note 3
directors’ remuneration
the board is responsible for an overall remuneration package for executive directors and other senior executives capable of
achieving the group’s objectives and approved by the remuneration committee the remuneration package is designed to
attract retain and motivate executive directors of the right calibre
fees
the fees for nonexecutive directors are determined by the board within the limits stipulated in the articles of association the
nonexecutive directors are not involved in any discussions or decisions about their own remuneration
details of amounts received by the directors during the year ended 31 december 2009 are set out in note 7 to the financial
statements
contracts of service
the current executive director dj assor has a service contract with the company which can be terminated with a notice period
of one year by either party the company considers that this is appropriate for an executive director
share options
details regarding share options are set out in note 19 to the financial statements
accounts 2009  12410  1619  page 13 12
statement of directors’ responsibilities
the directors are responsible for preparing the report and the financial statements in accordance with applicable law and
regulations 
company law requires the directors to prepare financial statements for each financial year under that law the directors have
elected to prepare the group financial statements in accordance with international financial reporting standards ifrss as
adopted by the european union and the company financial statements in accordance with united kingdom generally accepted
accounting practice united kingdom accounting standards and applicable law under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group
and company and of the profit or loss of the group for that period the directors are also required to prepare financial
statements in accordance with the rules of the london stock exchange for companies trading securities on the alternative
investment market  
in preparing these financial statements the directors are required to
• select suitable accounting policies and then apply them consistently
• make judgements and accounting estimates that are reasonable and prudent
• state whether they have been prepared in accordance with ifrss as adopted by the european union subject to any material 
departures disclosed and explained in the financial statements
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will 
continue in business
the directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s
transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to
ensure that the financial statements comply with the requirements of the companies act 2006  they are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities
website publication
the directors are responsible for ensuring the annual report and the financial statements are made available on a website
financial statements are published on the companys website in accordance with legislation in the united kingdom governing
the preparation and dissemination of financial statements which may vary from legislation in other jurisdictions the
maintenance and integrity of the companys website is the responsibility of the directors the directors responsibility also
extends to the ongoing integrity of the financial statements contained therein
signed on behalf of the board of directors
dan assor
director
12 april 2010
accounts 2009  12410  1619  page 14 13
independent auditors’ report  to the members of totally plc
we have audited the financial statements of totally plc for the year ended 31 december 2009 which comprise the
consolidated statement of comprehensive income the consolidated statement of changes in equity the consolidated
statement of financial position the consolidated statement of cash flows and the company balance sheet and the related
notes the financial reporting framework that has been applied in the preparation of the group financial statements is
applicable law and international financial reporting standards ifrss as adopted by the european union the financial
reporting framework that has been applied in preparation of the parent company financial statements is applicable law and
united kingdom accounting standards united kingdom generally accepted accounting practice 
this report is made solely to the company’s members as a body in accordance with chapter 3 of part 16 of the companies
act 2006 our audit work has been undertaken so that we might state to the company’s members those matters we are
required to state to them in an auditor’s report and for no other purpose to the fullest extent permitted by law we do not
accept or assume responsibility to anyone other than the company and the company’s members as a body for our audit work
for this report or for the opinions we have formed
respective responsibilities of directors and auditors
as explained more fully in the statement of directors’ responsibilities the directors are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view our responsibility is to audit the financial
statements in accordance with applicable law and international standards on auditing uk and ireland those standards
require us to comply with the auditing practices board’s apb’s ethical standards for auditors 
scope of the audit of the financial statements
an audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give
reasonable assurance that the financial statements are free from material misstatement whether caused by fraud or error
this includes an assessment of whether the accounting policies are appropriate to the group’s and the parent company’s
circumstances and have been consistently applied and adequately disclosed the reasonableness of significant accounting
estimates made by the directors and the overall presentation of the financial statements 
basis of audit opinion
we conducted our audit in accordance with international auditing standards uk and ireland issued by the auditing practices
board an audit includes examination on a test basis of evidence relevant to the amounts and disclosures in the financial
statements it also includes an assessment of the significant estimates and judgements made by the directors in the
preparation of the financial statements and of whether the accounting policies are appropriate to the company’s and group’s
circumstances consistently applied and adequately disclosed  
we planned and performed our audit so as to obtain all the information and explanations which we considered necessary in
order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material
misstatement whether caused by fraud or other irregularity or error in forming our opinion we also evaluated the overall
adequacy of the presentation of information in the financial statements  
accounts 2009  12410  1619  page 15 14
independent auditors’ report  to the members of totally plc
continued
opinion on financial statements
in our opinion
• the financial statements give a true and fair view of the state of the group’s and the parent company’s affairs as at 31 
december 2009 and of the group’s profit for the year then ended
• the group financial statements have been properly prepared in accordance with ifrss as adopted by the european union
• the parent company’s financial statements have been properly prepared in accordance with united kingdom generally 
accepted accounting practice and
• the financial statements have been prepared in accordance with the requirements of the companies act 2006
going concern
in forming our opinion we have considered the adequacy of the disclosures made in note 3 to the financial statements
concerning the uncertainty as to the adequacy of the future funding of the company and group in view of the significance of
this uncertainty we consider that it should be drawn to your attention but our opinion is not qualified in this respect
opinion on other matters prescribed by the companies act 2006
in our opinion the information given in the directors’ report chairman’s statement ceo’s statement and corporate
governance statement for the financial year for which the financial statements are prepared is consistent with the financial
statements 
matters on which we are required to report by exception
• we have nothing to report in respect of the following matters where the companies act 2006 requires us to report to you 
if in our opinion
• adequate accounting records have not been kept by the parent company or returns adequate for our audit have not been 
received from branches not visited by us or
• the parent company financial statements are not in agreement with the accounting records and returns or
• certain disclosures of directors’ remuneration specified by law are not made or
• we have not received all the information and explanations we require for our audit
paul randall senior statutory auditor
for and on behalf of royce peeling green limited
chartered accountants
statutory auditor
12 april 2010
accounts 2009  12410  1619  page 16 15
consolidated statement of comprehensive income
for the year ended 31 december 2009
continuing operations
revenue
cost of sales
gross profit
administrative expenses
profit  loss before interest tax depreciation and amortisation
depreciation
amortisation
operating profit  loss
finance costs
profit  loss before taxation
income tax
profit  loss for the year from continuing operations
discontinued operations
loss for the year from discontinued operations
profit  loss for the year
earnings  loss per share
basic
continuing operations
discontinued operations
diluted
continuing operations
discontinued operations
the accompanying notes on pages 20 to 40 form part of the financial statements
1758
381
1377
1204
173
5
24
144
19
125
16
141

141
0002p

0002p
0001p

0001p
5
5
5
5
12
11
7
10
9
6
18
18
18
18
1688
429
1259
1287
28
9
22
59
40
99
18
81
1000
1081
01p
09p
10p
01p
09p
10p
2009
£000
note 2008
as restated
£000
accounts 2009  12410  1619  page 17 16
consolidated statement of changes in equity
for the year ended 31 december 2009
group
at 1 january 2008
prior year adjustment relating to revenue
recognition see note 4
restated balance 1 january 2008
loss for the year
currency translation differences on foreign
currency net investments
credit on issue of share options
credit on issue of warrants
restated balance at 31 december 2008
profit for the year
credit on issue of share options
credit on issue of warrants
at 31 december 2009
the accompanying notes on pages 20 to 40 form part of the financial statements
share
capital
£000
1124

1124




1124



1124
share
premium
account
£000
3353

3353




3353



3353
translation
reserve
£000
1

1

1







profit
and loss
account
£000
3947
53
4000
1081
1
12
6
5062
141
5
7
4909
equity share
holders’
deficit  funds
£000
531
53
478
1081

12
6
585
141
5
7
432
accounts 2009  12410  1619  page 18 17
consolidated statement of financial position
at 31 december 2009
assets 
non current assets
intangible fixed assets
property plant and equipment
current assets
inventories
trade and other receivables
cash and cash equivalents
total assets
liabilities
current liabilities
trade and other payables
short term borrowings
noncurrent liabilities
investment in joint venture
total liabilities
net liabilities  assets
shareholders’ equity
called up share capital
share premium account
retained earnings
equity shareholders deficit  funds
note
11
12
14
15
16
18
18
18
2009 2008 as restated
£000
51
7

290
14
£000
58
304
362
386
561
947

947
585
1124
3353
5062
 585
£000
60
4

266

£000
64
266
330
321
441
762

762
432
1124
3353
4909
432
as at 1 january
2008 as restated
£000
1014
27
8
433
94
£000
1041
535
1576
528
542
1070
28
1098
478
1124
3353
3999
478
the accompanying notes on pages 20 to 40 form part of the financial statements
these financial statements were approved by the board of directors on 12 april 2010 and were signed on its behalf by
dan assor
director
accounts 2009  12410  1619  page 19 18
company balance sheet
at 31 december 2009
assets
non current assets
property plant and equipment
investments in subsidiaries
current assets
debtors
cash and cash equivalents
total assets
liabilities
current liabilities
trade and other payables
short term borrowings
total liabilities
net liabilities
shareholders’ equity
called up share capital
share premium account
retained earnings
equity shareholders deficit
note
12
13
14
15
16
18
18
18
20
2009 2008
£000


224

£000

224
224
833
1021
1854
 1630
1124
3353
6107
 1630
£000


76
39
£000

115
115
1179
561
1740
1625
1124
3353
6102
1625
the accompanying notes on pages 20 to 40 form part of the financial statements
these financial statements were approved by the board of directors on and were signed on its behalf by
dan assor
director
12 april 2010
accounts 2009  12410  1619  page 20 19
consolidated cash flow statement
for the year ended 31 december 2009
operating activities
operating profit  loss from continuing operations
option and warrants charge
amortisation and depreciation
decrease in inventories
decrease in trade and other receivables
decrease in trade and other payables
cash flow from continuing operations
loss before taxation from discontinued operations
depreciation
movement in working capital from discontinued operations
cash flow from discontinued operations
rd tax credit
foreign tax on subsidiary profit
net cash flow from operating activities
investing activities
purchase of intangible fixed assets
purchase of property plant and equipment
cash disposed with subsidiary
costs on disposal of subsidiary
net cash flow from investing activities
cash flow  outflow before financing
financing activities
interest paid
net cash utilised in financing activities
net increase  decrease in cash and cash equivalents
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
cash and cash equivalents comprise
cash and short term deposits
bank overdrafts
note
18
1112
21
9
6
11
12
21
16
2009 2008 
as restated
£000
144
12
29

24
65
144




16

160
33
2


35
125
19
19
106
547
441

441
441
£000
59
18
31
1
64
32
23
43
3
32
8
18
5
28

8
35
44
87
59
40
40
99
448
547
14
561
547
the accompanying notes on pages 20 to 40 form part of the financial statements
accounts 2009  12410  1619  page 21 20
notes to the financial statements
for the year ended 31 december 2009
1 general information
totally plc is a public limited company “company” incorporated in the united kingdom under the companies act 1985
registration number 3870101 the company is domiciled in the united kingdom and its registered address is unit 611
highgate studios 5379 highgate road london nw5 1tl the company’s ordinary shares are traded on the alm market of
the london stock exchange “aim”
the group’s principal activities have been publishing and the provision of internet and communication services the company’s
principal activity is to act as a holding company for its subsidiaries
2 authorisation of financial statements and statement of compliance with ifrs
the company’s financial statements for the period ended 31 december 2009 were authorised for issue by the board of
directors and the balance sheet was signed on the board’s behalf by d assor on 9 april 2010
the company’s financial statements have been prepared with ifrs and international financial reporting interpretations
committee “ifric” interpretations as endorsed by the european union and with those parts of the companies act 1985 and
2006 applicable to companies reporting under ifrs the company’s financial statements have been prepared on the same
basis and as permitted by section 408 of the companies act 2006 no income statement is presented for the company the
company incurred a loss of £17000 for the year ended 31 december 2009 2008 loss £1317000
3 basis of preparation
the financial year represents the 365 days to 31 december 2009 and the prior financial year 366 days to 31 december
2008 the financial statements are presented in sterling and all values are rounded to the nearest thousand pounds £000
except when otherwise indicated
the accounting policies set out in note 4 have been applied consistently to all periods presented in these consolidated financial
statements
the financial statements are prepared on a going concern basis which the directors believe to be appropriate for the following
reasons the group currently meets its day to day working capital requirements through two overdraft facilities which are
repayable on demand  
the group has confirmed the availability of a facility of £700000 with bank hapoalim which was renewed on 8 july 2009
until 30 june 2010 as security for the facility the bank has obtained the unlimited joint and several guarantees of dr michael
j sinclair nonexecutive chairman and mr leo noe
in addition a working capital facility of £50000 has been agreed with natwest which is secured on the group’s debtor book
this facility is due for renewal on 31 march 2010
the directors have prepared projected cash flow information for the period ending 12 months from the date of their approval
of these financial statements 
on the basis of cash flow forecasts and discussions with the groups bankers the directors consider that the group will be
able to operate within the facilities currently agreed 
inherently there can be no certainty in relation to these matters but the directors believe that the going concern basis of
preparation continues to be appropriate    
accounts 2009  12410  1619  page 22 21
notes to the financial statements
continued
4 accounting policies
basis of consolidation
the group’s financial statements include the results of the company and all its subsidiaries together with the group’s share
of the posttax results of its joint ventures all of which are prepared up to the same date as the parent company uniform
accounting policies are adopted by all companies in the group
subsidiaries
subsidiaries are all entities over which the group has the power to govern the financial and operating policies generally
accompanying a shareholding of more than one half of the voting rights the results of subsidiaries are included in the group
income statement from the date of acquisition until the date that such control ceases intercompany transactions and balances
between group companies are eliminated upon consolidation the results of the jewish advocate publishing corporation have
been included to 1 september 2008
joint ventures
joint ventures are jointly controlled entities in which the group has an interest the group’s share of the results of its joint
ventures is included in the group income statement using the equity method of accounting
investments in joint ventures is carried in the group balance sheet at cost plus postacquisition changes in the group’s share
of net assets of the entity less any impairment in value
investments in subsidiaries and joint ventures are carried at cost less any impairment loss in the financial statements of the
company
revenue recognition
revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can
be reliably measured revenue represents the amounts excluding valued added tax derived from advertising marketing and
technical services revenue is recognised in the profit and loss account on the accruals basis
revenue from advertising is recognised on the date of the specific publication to which the advert is included
revenue from technical services is recognised as contract activity progresses to the extent that revenue can be reliably
measured hosting and maintenance income within technical services is spread on a straight line basis over the period to which
the hosting and maintenance period relates
finance costs
finance costs comprise interest payable on the bank overdrafts and are recognised on an accruals basis
intangible assets
computer software is carried at cost less accumulated amortisation and any impairment loss externally acquired computer
software and software licences are capitalised at the costs incurred to acquire and bring into use the specific software these
assets are considered to have finite useful lives and are amortised on a straight line basis over the estimated useful economic
lives of each of the assets considered to be between three and five years computer software is carried at cost less
accumulated amortisation and any impairment loss costs relating to development of computer software are capitalised once
the recognition criteria are met when the software is available for its intended use these costs are amortised over the
estimated useful life of the software
the carrying values of intangible assets are reviewed for impairment whenever events or changes in circumstances indicate
the carrying value may not be recoverable
accounts 2009  12410  1619  page 23 22
notes to the financial statements
continued
4 accounting policies continued
property plant and equipment
furniture and equipment is carried at cost less accumulated depreciation and any recognised impairment in value cost
comprises the aggregate amount paid to acquire asset and includes costs directly attributable to making the asset capable of
operating as intended
depreciation is calculated to write down the cost of the assets to their residual values by equal instalments over the estimated
useful economic lives as follows
computer equipment  2 and 5 years
fixtures and fittings  2 and 3 years
short leasehold property  lease term
the assets’ residual values useful lives and methods of depreciation are reviewed and adjusted if appropriate on an annual
basis an item of furniture and equipment is derecognised upon disposal or when no future economic benefits are expected
from its use or disposal any gain or loss arising on derecognition of the asset calculated as the difference between the net
disposal proceeds and the carrying amount of the asset is included in the income statement in the period that the asset is
derecognised
impairment of assets
at each balance sheet date the company reviews amounts of its tangible fixed assets to determine whether there is any
indication that these assets have suffered an impairment loss if any such indication exists the recoverable amount of the
assets which is the higher of its fair value less costs to sell and its value in use is estimated in order to determine the extent
of the impairment loss where the asset does not generate cash flows that are independent from other assets the company
estimates the recoverable amount of the cashgenerating unit “cgu” to which the asset belongs for tangible and intangible
assets excluding goodwill the cgu is deemed to be cash generating asset or the trading company whichever is the smaller
cgu for goodwill the cgu is deemed to be the business acquired
an impairment charge is recognised in the income statement in the period in which it occurs where an impairment loss
subsequently reverses due to a change in its original estimate the carrying amount of the asset is increased to the revised
estimate of its recoverable amount the increased amount cannot exceed the carrying amount that would have been
determined net of depreciation had no impairment loss been recognised for the asset in prior periods
trade and other receivables
trade receivables which are generally received on end of month following terms are recognised and carried at the lower of
their original invoiced value and recoverable amount provision is made when it is likely that the balance will not be recovered
in full balances are written off when the probability of recovery is considered remote
cash and cash equivalents
cash and cash equivalents in the balance sheet comprise cash at bank and shortterm deposits with an original maturity of
three months or less bank overdrafts that are repayable on demand and form an integral part of the company’s cash
management are included as components of cash and cash equivalents for the purposes of the cash flow statement
accounts 2009  12410  1619  page 24 23
notes to the financial statements
continued
4 accounting policies continued
foreign currencies 
a foreign operations
on consolidation assets and liabilities of foreign operations are translated into sterling at yearend exchange rates the results
of foreign operations are translated into sterling at average rates of exchange for the year the average us dollar to sterling
exchange rate for the period to 1 september 2008 was 197 exchange differences arising from the retranslation at yearend
exchange rates of the net investment in foreign operations are taken to equity and are reported in the statement of recognised
income and expense
b foreign currency transactions
transactions denominated in foreign currencies are translated at the exchange rate at the date of the transaction monetary
assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling
at that date foreign exchange differences arising on translation are recognised in the income statement
leased assets
leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards of ownership
to the group all other leases are classified as operating leases 
the company has a short lease on its premises  this is accounted for as an ‘operating lease’ and the rental charges are
charged to the income statement on a straight line basis over the life of the lease  other operating leases are treated in the
same manner  
internally generated intangible assets – research and development expenditure 
expenditure on research activities is recognised as an expense in the period in which it is incurred an internallygenerated
intangible asset arising from the group’s technology development is recognised only if all of the following conditions are met
• an asset is created that can be identified 
• it is probable that the asset created will generate future economic benefits and 
• the development cost of the asset can be measured reliably 
internally generated intangible assets are amortised on a straightline basis over their useful economic lives  where no
internallygenerated intangible asset can be recognised development expenditure is recognised as an expense in the period
in which it is incurred
sharebased payments
the group provides benefits to employees including directors of the group in the form of sharebased payment transactions
whereby employees render services in exchange for shares or rights over shares ‘equitysettled transactions’the fair value of
the employee services rendered is determined by reference to the fair value of the shares awarded or options granted
excluding the impact of any nonmarket vesting conditions all share options are valued using an optionpricing model black
scholes this fair value is charged to the income statement over the vesting period of the sharebased payment scheme with
the corresponding increase in equity
the value of the charge is adjusted in the income statement over the remainder of the vesting period to reflect expected and
actual levels of options vesting with the corresponding adjustment made in equity
accounts 2009  12410  1619  page 25 24
notes to the financial statements
continued
4 accounting policies continued
income taxes
current income tax assets and liabilities are measured at the amount expected to be recovered or paid to the taxation
authorities based on tax rates and laws that are enacted or substantively enacted by the balance sheet date deferred income
tax is recognised using the balance sheet liability method providing for temporary differences between the tax bases and the
accounting bases of assets and liabilities deferred income tax is calculated on an undiscounted basis at the tax rates that are
expected to applying the period when the liability is settled or the asset is realised based on tax rates and laws enacted or
substantively enacted at the balance sheet date
deferred income tax liabilities are recognised for all temporary differences except for an asset or liability in a transaction that
is not a business combination and at the time of the transaction affects neither the accounting profit nor taxable profit or loss
deferred income tax is charged or credited to the income statement except when it relates to items charged or credited to
equity in which case the deferred tax is also dealt with in equity deferred income tax assets and liabilities are offset against
each other only when the company has a legally enforceable right to do so
deferred income tax assets are recognised to the extent that it is probable that future taxable profits will be available against
which the deductible temporary differences can be utilised
use of assumptions and estimates
the company makes judgements estimates and assumptions that affect the application of policies and reported amounts of
assets and liabilities income and expenses the resulting accounting estimates calculated using these judgements and
assumptions will by definition seldom equal the related actual results but are based on historical experience and expectations
of future events the estimates and underlying assumptions are reviewed on an ongoing basis revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision effects only that period or in the period
of revision and future periods if the revision affects both current and future periods
the estimates and assumption that have a significant effect on the amounts recognised in the financial statements are those
related to establishing depreciation and amortisation periods for the company and the estimates in relation to future cash flows
and discount rates utilised in impairment testing
change in accounting policies
a change in revenue recognition policy
there has been a change in the revenue recognition policy in the year and consequently the results of the previous year have
been restated the board has reviewed the accounting policy specifically with reference to publications where advertising
revenue is generated both via magazine advertising print media and online advertising the past policy was to recognise
revenue on the earliest publication date whether this was online or as published via print media the new policy is to recognise
revenue on the latest publication date whether this is online or published via print media the change in policy reflects the
uncertainty and subjectivity in dividing advertising income between online and print media the new policy provides more
relevant and reliable financial information
the impact of the prior year adjustment on the consolidated statement of comprehensive income has been to increase the
revenue reported in 2008 by £4000 and to reduce cost of sales by £1000 there has been no impact on the tax credit the
impact on the statement of financial position is to increase accruals and deferred income at 31 december 2008 by £48000
to £137000 and by £53000 to £161000 at 1 january 2008
in accordance with ias1revised a balance sheet as at the date of the beginning of the earliest comparative period 1 january
2008 has been presented other than the disclosures in note 15 the change in accounting policy has not affected any other
balance sheet notes 
accounts 2009  12410  1619  page 26 25
notes to the financial statements
continued
4 accounting policies continued
b new standards and interpretations effective from 1 january 2009 
during the year the group has adopted ias 1 “presentation of financial statements revised 2007”
ias 1 presentation of financial statements revised 2007 includes the requirement to present a statement of changes in
equity as a primary statement and introduces the possibility of either a single statement of comprehensive income combining
the income statement and a statement of comprehensive income or to retain the income statement with a supplementary
statement of comprehensive income the first option has been adopted by totally plc as this standard is concerned with
presentation only it does not have any impact on the results or net assets of the group
none of the other new standards interpretations and amendments also effective for the first time from 1 january 2009 have
had a material effect on the financial statements
ifrs 8 operating segments is also mandatory for periods beginning on or after 1 january 2009 however the group elected to
apply the standard early in its financial statements for the year ended 31 december 2008
c standards amendments and interpretations to published standards not yet effective
certain new standards amendments and interpretations to existing standards have been published that are mandatory for the
group’s accounting periods beginning after 1 january 2009 and which the group has decided not to adopt early
those likely to affect the group
revised ifrs 3 business combinations effective for accounting periods beginning on or after 1 july 2009 this revision was
endorsed by the eu on 15 june 2009 this revision requires prospective application and may result in acquisition costs being
recognised immediately in the consolidated statement of comprehensive income intangible assets being recognised even
when it cannot be reliably measured and the option to gross up the balance sheet for goodwill attributable to minority
interests this will be applicable in the future if the group were to make any further acquisitions which is not currently
anticipated
amendment to ias 27 consolidated and separate financial statements effective for periods beginning on or after 1 july
2009 this amendment was endorsed by the eu on 15 june 2009 this amendment requires prospective application and
could result in a change in differences where acquisitions or disposals of subsidiaries are made in stages this could be
applicable if the company made piecemeal acquisitions or disposals in the future which is not anticipated
none of the other standards are considered likely to have a material affect on the group’s financial statements
accounts 2009  12410  1619  page 27 26
notes to the financial statements
continued
5 segmental analysis
primary reporting format – business segments
the table below sets out information for the group’s business segments for the years ended 31 december 2009 and 2008
segment revenue represents revenue from external customers arising from the sale of goods and services
the type of products sold by each segment is detailed in the business review
segment results assets and liabilities include items directly attributable to a segment as well as those that can be allocated
on a reasonable basis 
analysis by business segment 2009
revenue
ebitda
depreciation
amortisation
operating loss  profit
finance costs
loss  profit before tax
income tax
loss  profit after tax
segment assets
segment liabilities
other segment information
capital expenditure
property plant and equipment
goodwill
other intangible assets
digital
marketing
£000
628
210
5

205

205

205
147
92


33
total 
continued
operations
£000
1758
173
5
24
144
19
125
16
141
330
762
2

33
head
office
£000

289


289
19
308

308
54
549



uk
publishing
£000
1130
252

24
228

228
16
244
129
121
2


accounts 2009  12410  1619  page 28 27
notes to the financial statements
continued
5 segmental analysis continued
analysis by business segment 2008 as restated
revenue
ebitda
depreciation
amortisation
operating loss  profit
loss on disposal of subsidiary
share of joint venture loss
profit on disposal of joint venture
finance costs
loss  profit before tax
income tax
loss  profit after tax
segment assets
segment liabilities
other segment information
capital expenditure
property plant and equipment
goodwill
other intangible assets
discontinued
operations
£000
471
40
3

43
968
10
21

1000

1000





total
£000
2159
68
12
22
102
968
10
21
40
1099
18
1081
362
947
8


digital
marketing
£000
608
188
3

185




185

185
118
119
3


total 
continued
operations
£000
1688
28
9
22
59



40
99
18
81
362
947
8


head
office
£000

322


322


40
362

 362
115
598



uk
publishing
£000
1080
106
6
22
78




78
18
96
129
230
5


segment revenue by geographical segment represents revenue from external customers based upon the geographical location
of the customer the analyses of segment assets and capital expenditure are based upon the location of the assets
accounts 2009  12410  1619  page 29 28
notes to the financial statements
continued
segment revenue by geographical segment represents revenue from external customers based upon the geographical location
of the customer the analyses of segment assets and capital expenditure are based upon the location of the assets
6 discontinued operations
discontinued operations during 2008 comprise the sale of the jewish advocate publishing corporation to the zvhilmezbuz
rebbe grand rabbi ya korff of boston “the rebbe” on 1 september 2008 in consideration for the sale 20500000 1p
ordinary shares held by the “rebbe” were redesignated as deferred shares
the deferred shares issued carried no voting rights no rights to attend general meetings of the company and no rights to
receive dividends the deferred shares do carry a right to participate in any return of capital to the extent of 001 pence per
deferred share but only after each ordinary share has received in aggregate capital repayments totalling £1000000 per
ordinary share
therefore it is the opinion of the board that the deferred shares are for all practical purposes valueless
in addition warrants held by the rebbe to subscribe for 4394350 ordinary shares were cancelled as part of the sale
furthermore under the terms of the agreement the rebbe will pay additional consideration to the company in the event of
1 a sale of the whole or a substantial number of the jewish advocate shares or
2 a sale of the whole or a substantial proportion of the business and assets of the jewish advocate
this was 40 per cent of the difference between the consideration received by the rebbe at the time of such sale and the value
of the consideration shares 20500000 1p ordinary shares on 1 september 2008 if the sale is effected within one year or
33 per cent of the difference in the event that such sale is effected within two years
the directors believe that the likelihood of such a disposal is not probable and therefore no asset has been recognised in the
financial statements
revenue
segment assets
other segment information
capital expenditure
property plant and equipment
goodwill
other intangible assets
2009
£000
1758
297
2

33
2008 as
restated
£000
2159
362
8


2009
£000





2008 as
restated
£000
471




2009
£000
1758
330
2

33
uk operations us operations total
2008 as
restated
£000
1688
362
8


5 segmental analysis continued
secondary reporting format – geographical segments
analysis by geographical segment
accounts 2009  12410  1619  page 30 29
revenue
cost of sales
gross profit
administrative expenses
loss before interest tax depreciation and amortisation
depreciation
operating loss
finance costs
loss before taxation
income tax 
loss for the period  year
2008
£000
471
31
440
480
40
3
43

43

43
sales proceeds
net assets disposed of
goodwill 
property plant and equipment
cash at bank
working capital – inventories receivable and payables
tax creditor
costs of disposal 
loss on disposal
£000

941
17
35
74
5
44
968
2009
£000











operating cash flows
investing cash flows
net cash outflow
2008
£000
13
35
48
2009
£000



notes to the financial statements
continued
6 discontinued operations continued
the results of discontinued operations that have been included in the consolidated income statement are as follows the 2009
results are for the full year to 31 december 2009 whilst 2008 results are to the date of disposal 1 september 2008
the net cash flows attributable to discontinued operations are as follows
the basic earnings per share on discontinued operations is nil pence 2008 09 pence earnings per share
details of the sale of the jewish advocate are analysed as follows
accounts 2009  12410  1619  page 31 30
profit  loss on ordinary activities before and after taxation is stated
after charging
auditors’ remuneration for audit services
auditors’ remuneration for nonaudit services tax services
operating lease charges land and buildings
operating lease charges other assets
depreciation
amortisation
2008
£000
21
3
75
7
12
22
2009
£000
26
3
46
5
5
24
2008
3
10
10
8
2
33
2009
2
8
6
6
1
23
management
technical and production
editorial
sales and marketing
administrative
number of employees
2008
£000
1015
110
1125
2009
£000
638
84
722
wages and salaries
social security costs
notes to the financial statements
continued
7 profit  loss on operating activities before taxation
auditors’ remuneration includes £6000 2008 £6000 for the company
8 employee information
the average number of persons employed by the company including directors during the year analysed by category was as
follows
staff costs for the above employees during the year amounted to
2008
£000
125

3
2009
£000
148

2
directors’ emoluments
gain made on exercise of share options
number of directors entitled to share options
directors’ emoluments
accounts 2009  12410  1619  page 32 31
notes to the financial statements
continued
8 employee information continued
not included in directors emoluments above is a service contract with the jewish advocate publishing corporation which
entitles the zvhilmezbuz rebbe grand rabbi ya korff of boston to consultancy fees of nil us dollars per annum 2008
166667 us dollars
included in wages and salaries is a total charge for share based payments of £12000 2008 £18000 which arises wholly
in both years from transactions accounted for as equity settled share based payment
9 taxation
a taxation charge
b taxation reconciliation
the current income tax credit for the period is explained below
c deferred tax
estimated tax losses of £3699000 2008 £3733000 are available to relieve future profits of the group a deferred tax
asset has not been recognised in respect of these losses due to uncertainty as to the timing and tax rate at which these losses
will be utilised
10 finance costs
2008
£000
18
18
2009
£000
16
16
research and development tax credit
total current income tax credit charged in the income statement
2008
£000
40
2009
£000
19 on bank overdrafts
2008
£000
1086
304
18
304
18
2009
£000
125
35
16
35
16
profit  loss before tax
taxation at the standard uk income tax rate of 28 per cent 2008 28 per cent
research and development tax credit
deferred tax movement not provided for
total income tax credit charged in the income statement
accounts 2009  12410  1619  page 33 32
notes to the financial statements
continued
11 intangible fixed assets
group
total
£000
460
33
493
409
24
433
60
51
cost
at 1 january 2009
additions
at 31 december 2009
amortisation
at 1 january 2009
amortisation during the year
at 31 december 2009
net carrying value
at 31 december 2009
at 31 december 2008
software
£000
460
33
493
409
24
433
60
51
company
total
£000
5

5
5

5


software
£000
5

5
5

5


cost
at 1 january 2009
additions
at 31 december 2009
amortisation
at 1 january 2009
provided for the year
at 31 december 2009
net carrying value
at 31 december 2009
at 31 december 2008
accounts 2009  12410  1619  page 34 33
notes to the financial statements
continued
12 property plant and equipment
group
total
£000
235
2

237
228
5

233
4
7
fixtures and
fittings
£000
51


51
45
5

50
1
6
cost
at 1 january 2009
additions
disposals
at 31 december 2009
depreciation
at 1 january 2009
provided for year
disposals
at 31 december 2009
net book value
at 31 december 2009
at 31 december 2008
computer
equipment
£000
130
2

132
129


129
3
1
short
leasehold property
£000
54


54
54


54


company 
total
£000
72
72


fixtures and
fittings
£000
11
11


cost
at 1 january and 31 december 2009
depreciation
at 1 january and 31 december 2009
net book value
at 31 december 2009
at 31 december 2008
computer
equipment
£000
7
7


short
leasehold property
£000
54
54


accounts 2009  12410  1619  page 35 34
notes to the financial statements
continued
13 investments
company
the subsidiary companies all of which have been consolidated at 31 december 2009 are as follows
nature of business
online media
print media
technical and marketing services
dormant
subsidiary undertakings held directly
totally jewishcom limited 
the jewish news limited
totally communications limited
london jewish news limited
country of
incorporation
england
england
england
england
percentage of
equity capital held
100
100
100
100
total
£000



investments in share capital of wholly owned subsidiaries
cost
at beginning of year
disposals
at end of year
14 trade and other receivables
company
2008
£000


9
56
11
76
trade receivables
amounts due from group undertakings
other debtors
other taxation and social security
prepayments and accrued income
company
2009
£000

170
10

44
224
group
2008
£000
192

65

33
290
group
2009
£000
199

10

57
266
15 trade and other payables
company
2008
£000
28
1142


9
1179
current
trade payables
amounts owed to group undertakings
other taxes and social security
other creditors
accruals and deferred income
company
2009
£000
11
723
38

61
833
group
2008 as
restated
£000
122

127

137
386
group as at 
1 january 2008
as restated
£000
271

96

161
528
group
2009
£000
114

62
10
135
321
accounts 2009  12410  1619  page 36 35
notes to the financial statements
continued
secured liabilities
the group’s financial liabilities during the year ended 31 december 2009 were represented by two overdraft facilities both
repayable in less than one year 
one overdraft is secured by a debenture over the group’s trade debtors aged under 90 days with a limit of £50000 charging
interest at 375 per cent above bank base rate per annum 
the second facility has a limit of £700000 charging interest at 2 per cent above bank base rate per annum as security for
the second facility the bank has obtained the unlimited joint and several guarantees of dr michael j sinclair nonexecutive
chairman and mr leo noe  
at 31 december 2009 there was no difference between the book and fair value of the group’s financial liabilities  there were
no fixed rate liabilities during the year
all monetary assets and liabilities at the balance sheet date are held in sterling the group’s functional currency
16 financial liabilities – borrowings
company
2008
£000
561
current
bank overdrafts
company
2009
£000
1021
group
2008
£000
561
group
2009
£000
441
17 financial instruments
the group’s financial instruments comprise cash and various items such as trade receivables and trade payables that arise
directly from its operations the main purpose of these financial instruments is to raise finance for the group’s operation
fair values of financial instruments
for the following financial assets and liabilities longterm borrowings shortterm borrowings trade and other payables trade
and other receivables and cash at bank and in hand the carrying amount approximates the fair value of the instrument due
to the instrument bearing interest at market rates andor the shortterm nature of the instrument
maturity of financial liabilities company
2008
£000
561 amounts payable within one year
company
2009
£000
1021
group
2008
£000
561
group
2009
£000
441
accounts 2009  12410  1619  page 37 36
notes to the financial statements
continued
issue of deferred shares
on 30 september 2008 20500000 1p ordinary shares were redesignated as deferred shares
the deferred shares issued carry no voting rights no rights to attend general meetings of the company and no rights to receive
dividends the deferred shares do carry a right to participate in any return of capital to the extent of 001 pence per deferred
share but only after each ordinary share has received in aggregate capital repayments totalling £1000000 per ordinary
share
earnings per share
the calculation of the basic earnings  losses per share is based on the profit of £141000 2008 as restated loss of
£1081000 and on 91947934 2008 107322909 ordinary shares being the weighted average number of shares in
issue during the period the diluted loss per share for 2009 is based on a profit of £141000 and 91947934 ordinary shares
16943333 outstanding options and 100213012 outstanding warrants the diluted earnings per share in 2008 is the same
as the basic earnings per share in accordance with ias 33 which prescribes that potential ordinary shares should only be used
as dilutive when and only when their conversion to ordinary shares would decrease net profit or increase net loss per share
from continuing operations
share options
on 27 july 2009 7575000 share options at an exercise price ranging between 15 pence and 438 pence per share were
surrendered and 10575000 new options were issued at an exercise price of 1 pence per share the options are exercisable
from the date of issue up to 27 july 2019
on 8 october 2009 1050000 share options at an exercise price ranging between 15 pence and 362 pence per share were
surrendered and a further 3050000 share options were issued at an exercise price of 1 pence per ordinary share the options
are exercisable from the date of issue up to 8 october 2019
in summary at 31 december 2009 there are 16943333 options still in issue
warrants currently in issue
on 21 may 2002 in conjunction with a share placing subscribers to the placing shares were issued 4583329 warrants one
warrant for every four shares subscribed the warrants are exercisable at 5 pence per ordinary share the warrants are
exercisable in the 45 day periods following either publication of the company’s half year results or adoption of the company’s
annual accounts  the last exercise period is the earliest of either the 45 day period following the adoption of the company’s
accounts for the year ended 31 december 2008 or subject to certain exceptions on a winding up of the company where
there is a surplus payable to the ordinary share holders
18 share capital and reserves 31 december
2008
£000
1250 
205
919  
205
1124
authorised
125000000 ordinary shares of 1p each 2008 125000000
20500000 deferred shares of 1p each 2008 2050000
allotted called up and fully paid
91947934 ordinary shares of 1p each 2008 91947934
20500000 deferred shares of 1p each 2008 20500000
total called up share capital
31 december
2009
£000
1250 
205
919  
205
1124
accounts 2009  12410  1619  page 38 37
notes to the financial statements
continued
18 share capital and reserves continued
on 18 june 2004 10000000 warrants were issued at an exercise price of 5 pence per ordinary share and 4394350
warrants were issued at an exercise price of 4375 pence per ordinary share the warrants are exercisable from the date of
issue up to 18 june 2011 the 4394350 warrants have been cancelled on 30 september 2008 as part of the disposal of
the jewish advocate publishing corporation see note 6
on 30 september 2008 70000000 warrants were issued at an exercise price of 1 pence per ordinary share the warrants
are exercisable from the date of issue and have no fixed expiry date
on 27 july 2009 6752538 warrants at an exercise price ranging between 15 pence and 438 pence were surrendered and
16752538 new warrants were issued at an exercise price of 1 pence share  the warrants are exercisable from the date of
issue up to 27 july 2019
on 8 october 2009 166666 warrants were issued at an exercise price of 1 pence per ordinary share the warrants are
exercisable from the date of issue up to 8 october 2019
in summary at 31 december 2009 there are 100123012 warrants still in issue
share premium account
the share premium account represents the amounts received by the company on the issue of ordinary shares that are in
excess of the nominal value of the issued shares
19 sharebased payment
during the year ended ending 31 december 2009 the group and company had two share based payment arrangements as
described below
a employee share options
totally plc enterprise management incentive plan
the estimated fair value of each option has been calculated using the black scholes option pricing model for different
options granted between 17 december 2002 and 8 october 2009 the estimated fair value of options varies between 09
pence and 004 pence the model inputs are share price at grant date exercise price expected volatility of 29 per cent
no expected dividends contractual life of three years and a risk free interest rate of four per cent it has been estimated
that 21 of options granted will be forfeited due to employees leaving during the three year vesting period the actual
contractual life of 10 years has been used in the calculation a reconciliation of option movements over the year is shown
below
accounts 2009  12410  1619  page 39 38
notes to the financial statements
continued
19 sharebased payment continued
20 company changes in equity
a employee share options
range of exercise price pence
weighted average exercise price pence
number of shares  000’s
weighted average remaining life years – expected
weighted average remaining life years – contractual
2009
100 – 362
118
16943
10
10
2008
270 – 400
289
12243
3
3
expense arising from share option plans
expense arising from issue of share option warrants
2009
5
7
2008
12
6
b warrants
the estimated fair value of each warrant has been calculated using the black scholes option pricing model for different
warrants granted as outlined in note 18 the estimated fair value of warrants varies between 08 pence and 001 pence
the model inputs are share price at grant date exercise price expected volatility of 29 per cent no expected dividends
contractual life of three years and a risk free interest rate of four per cent a three year contractual life has been used to
reflect the nontradability of the warrants compared to the actual contractual life of seven years the full cost of the warrants
is recognised at the date of grant
expenses charged to the profit and loss in the year in respect of share based payments are as follows for the group and
company
equity share
holders’ 
deficit
£000
1625

17
5
7
1630
company
at 1 january 2009
share transfer
loss for the year
credit on issue of share options
credit on issue of warrants
at 31 december 2009
profit 
and loss 
account
£000
6102

17
5
7
6107
share 
premium
account
£000
3353




3353
share  capital 
deferred 
shares
£000
205




205
share  capital
ordinary 
shares
£000
919




919
2008 weighted
average price
pence
289
100
333


259
295
outstanding at 1 january 2009
granted
surrendered
exercised
expired
outstanding at 31 december 2009
exercisable
number
‘000s
13867
1000
2624


12243
13467
2009 weighted
average price
pence
259
100
293


118
167
number
‘000s
12243
13625
8625


16943
16943
accounts 2009  12410  1619  page 40 39
notes to the financial statements
continued
21 notes to the cash flow statement
notes to the financial statements
continued
21 notes to the cash flow statement
i cash flows relating to discontinued operations
cash flows from operating activities
loss before taxation from discontinued operations
depreciation
decrease in inventories
decrease in trade and other receivables
increase in trade and other payables
foreign tax on subsidiary profit
net cash utilised by operating activities
cash flows from investing activities
purchase of non current assets
cash disposed with subsidiary
net cash utilised by investing activities
cash flow before financing
cash flows from financing activities
interest received
net cash from financing activities
net decrease in cash and cash equivalents
cash and cash equivalents at beginning of year
cash and cash equivalents at 31 december 2009
2009
£000

















2008
£000
43
3
6
28
2
8
5
13

35
35
48


48
48

22 commitments
a capital expenditure commitments
at 31 december 2009 the group had no capital commitments
b operating leases agreements
at 31 december 2009 the group had the following annual commitments under noncancellable operating leases
total
2008
£000
14

3
17
commitments which expire
within 1 year
between 1 and 2 years
between 2 and 5 years
total
2009
£000
2
32

34
other assets
2008
£000
2
4

6
land and
buildings 2008
£000

28

28
accounts 2009  12410  1619  page 41 40
notes to the financial statements
continued
23 related party transactions
the group has taken advantage of the exemption available under ias 24 “related party disclosures” not to disclose details
of transactions with its subsidiary undertakings
the following related party transactions have been carried out at arms length and are required to be disclosed in accordance
with ias24
as set out in note 1 dr michael sinclair and mr leo noe have provided guarantees in respect of the group’s current overdraft
facility 
in 2009 purchases of £2000 2008 £4000 on an arm’s length basis were made from j margolis mother of a margolis
who is a director of totallyjewishcom limited a balance of £nil 2008 £1000 is included in trade creditors at the year end
included in trade debtors is an amount of £15000 2008 £30000 due from totally jewish travel inc a company in which
the group had a joint venture interest that was sold during 2008 sales of £5000 2008 £54000 relating to system
support have been made in the year balances of £nil due from totally jewish travel inc 2008 £18000 have been written
off during the year
during 2009 9080633 warrants 2008 nil and 5450000 options 2008 nil have been granted to d assor the exercise
prices are 1 pence per option and per warrant
during 2009 7671905 warrants 2008 nil and 5125000 options 2008 nil have been granted to a margolis the
exercise prices are 1 pence per option and per warrant
during 2009 no warrants 2008 35000000 have been granted to dr m sinclair the exercise price is 1 pence per  warrant
24 contingent liabilities
the company is party to a group banking arrangement with natwest bank plc which includes a debenture unlimited corporate
guarantee and letters of offset between totally plc totally communications limited the jewish news limited and
totallyjewishcom limited totally plc has a contingent liability in respect of these borrowings which at 31 december 2009
amounted to £nil 2008 £nil
accounts 2009  12410  1619  page 42 41
notice of annual general meeting
notice is hereby given that the annual general meeting of totally plc will be held at the offices of totally plc unit 611
highgate studios 5379 highgate road kentish town london nw5 1tl on 12 may 2010 at 1200 pm for the transaction
of the following business
as ordinary business to consider and if thought fit pass the following resolutions which will be proposed as ordinary
resolutions
1 to receive and adopt the report of the directors of the company and the audited accounts for the company for the year 
ended 31 december 2009
2 to reappoint dr m sinclair as director of the company who retires in accordance with article 14 of the company’s articles 
of association
3 to reappoint royce peeling green limited as auditors of the company and to authorise the directors to fix their 
remunerations
as special business to consider and if thought fit pass the following resolutions of which resolution 4 will be proposed as
an ordinary resolution and resolution 5 will be proposed as a special resolution
4 that for the purpose of section 551 of the companies act 2006 the “act” the directors be and are hereby generally and 
unconditionally authorised to exercise all powers of the company to allot shares in the company or grant rights to subscribe 
for or to convert any security into shares in the company “rights” during the period exploring at the end of the next annual 
general meeting of the company to be held after the date of the passing of this resolution or if earlier fifteen months from 
the date of the passing of this resolution provided that such power be limited to
a the allotment of up to 100123012 ordinary shares pursuant to or in connection with warrant instruments entered into 
on or prior to the date of this resolution
b the allotment of up  to 16943333 ordinary shares pursuant to or in connection with share options granted on or prior 
to the date of this resolution and
c the allotment of relevant securities other then pursuant to paragraphs a and b above up to an aggregate nominal 
amount of £900000 to such person or persons and on such terms as they think fit
and that the company be and is hereby authorised to make prior to the expiry of such period referred to in this resolution 4
any offer or agreement which would or might require shares to be alloted or rights to be granted after the expiry of the said
period and the directors may allot shares or grant rights in pursuance of any such offer or agreement notwithstanding the
expiry of the authority given by this resolution provided that this resolution shall not affect the right of the directors to allot
shares or grant rights in pursuance of any offer or agreement entered into prior to the date hereof
5 that subject to the passing of resolution 4 set out above the directors be and are empowered in accordance with section
570 of the act to allot equity securities as defined in section 560 of the act for cash pursuant to the authority conferred on
them by that resolution as if section 561 1 of the act did not apply to such allotment provided that the power conferred
by this resolution shall be limited to
a the allotment of up to 100123012 ordinary shares pursuant to or in connection with warrant instruments entered into 
on or prior to the date of this resolution
b the allotment of up  to 16943333 ordinary shares pursuant to or in connection with share options granted on or prior 
to the date of this resolution and
c the allotment of relevant securities other then pursuant to paragraphs a and b above up to an aggregate nominal 
amount of £900000 to such person or persons and on such terms as they think fit
accounts 2009  12410  1619  page 43 42
notice of annual general meeting
continued
and that this power unless renewed shall expire at the end of the next annual general meeting of the company to be held
after the date of the passing of this resolution or if earlier fifteen months from the date of the passing of this resolution but
shall extend to the making before such expiry of an offer or agreement which would or might require equity securities to be
allotted after such expiry and the conferred hereby had not expired
by order of the board
paul stacey
company secretary
registered office
unit 611 highgate studios
5379 highgate road
london nw5 1tl
dated 12 april 2010
notes
1 please indicate how you wish your votes to be cast in respect of the resolutions to be proposed at the said meeting if you
do not indicate how you wish your proxy to use your votes the proxy will exercise his discretion both as to how he votes and
as to whether or not he abstains from voting your proxy will have the authority to vote at his discretion on any amendment or
other motion proposed at the meeting including any motion to adjourn the meeting
2 if you prefer to appoint some other person or persons as your proxy strike out the words “the chairman of the meeting or”
and insert in the blank space the name or names preferred and initial the alteration a proxy need not be a member of the
company completion of a form of proxy will not preclude a member from attending and voting in person
3 in the case of joint holders the signiture of the holder whose name stands first in the relevant register of members will
suffice as the vote of such holder and shall be accepted to the exclusion of the votes of the other joint holders the names of
all joint holders should however be shown
4 if a member is a corporation this form must be executed either under its common seal or under the hand of an officer or
agent duly authorised in writing in the case of an individual the proxy must be signed by the appointor or his agent duly
authorised in writing
this form of proxy has been sent to you by post it may be returned by post or courier or by hand to the company’s registrars
capita registrars the registry 34 beckenham road beckenham kent br3 4tu crest members should use the crest
electronic proxy appointment service and refer to note 5 below in reletion to the submission of a proxy appointment via crest
in each case the proxy appointment must be received not less than 48 hours before the time for the holding of the meeting
or adjourned meeting together exept in the case of appointments made electronically with any authorityor a notarially
certified copy of such authority under which it is signed
5 crest members who wish to appoint a proxy or proxies throgh the crest electronic proxy appointment service may do so
for the annual general meeting to be held on the above date and any adjournments thereof by using the procedures
described in the crest manual crest personal members or other crest sponsered members who have appointed a voting
service providers who will be able to take the appropriate action on their behalf
accounts 2009  12410  1619  page 44 43
notice of annual general meeting
continued
in order for a proxy appointment or instruction made using the crest service to be valid the appropriate crest message a
“crest proxy instruction” must be properly authenticated in accordance with euroclear uk  ireland limited’s specifications
and must contain the information required for such instructions as described in the crest manual the message regardless
of whether it constitutes the appointment of a proxy or an amendment to the instruction given to a previously appointed proxy
must in order to be valid be transmitted so as to be received by the company’s agent id ra10 by the latest time s for
receipt of proxy appointments specified in the notice of meeting for this purpose the time of receipt will be taken to be the
time as determined by the timestamp applied to the message by the crest applications host from which the company’s
agent is able to retrieve the message by enquiry to crest in the manner prescribed by crest after this time any change of
instructions to proxies appointed through crest should be communicated to the appointee through other means
crest members and where applicable their crest sponsors or voting service providers should note that euroclear uk 
ireland limited does not make available special procedures in crest for any particular messages normal system timings and
limitations will therefore apply in relation to the input of crest proxy instructions it is the responsibility of the crest member
concerned to take or if the crest member is a crest personal member or sponsored member or has appointed a voting
service providers to procure that his crest sponsor or votint service providers takes such action as shall be necessary to
ensure that a message is transmitted by means of the crest system by any particular time in this connection crest
members and where applicable their crest sponsors or voting service providers are referred in particular to those sections
of the crest manual concerning practical limitations of the crest system and timings
the company may treat as invalid a crest proxy instruction in the circumstances set out in regulation 355 a of the
uncertificated securities regulations 2001
6 pursuant to regulation 41 1 of the uncertificated securities regulations 2001 2001 no 3755 the company has
specified that only those members registered on the register of members of the company at 12pm on 10 may 2010 shall be
entitled to attend and vote at the agm in respect of the number of ordinary shares registered in their name at the time
changes to the register of members after 12pm on 10 may 2010 shall be disregarded in determining the rights of any person
to attend and vote at the agm
accounts 2009  12410  1619  page 45 accounts 2009  12410  1619  page 46 accounts 2009  12410  1619  page 47 unit 611 highgate studios
5379 highgate road
kentish town
london nw5 1tl
t 020 7692 6929
f 020 7692 6689
wwwtotallyplccom
wwwtotallycommunicationscom
wwwrisedigitalcom
wwwthejngroupcom
accounts 2009  12410  1619  page 48


Summary:
 5
ceo’s statement
i was extremely pleased with the trading performance of the group in 2009 in 2007 and 2008 a number of cost cutting
measures were implemented which allowed the business to mitigate the downside of expected tough trading conditions
revenues increased year on year across both divisions in the group the reduction in the cost base combined with the increase
in revenues was responsible for the 344 increase in operating profit before tax and the delivery of the best trading
performance to date
publishing division overview
the jewish news  media group is the umbrella brand for the group’s publishing businesses which include the jewish news
limited and totallyjewishcom limited  
the group publishes on and offline media for the uks jewish community including
• a weekly newspaper ‘jewish news’
• a quarterly lifestyle magazine ‘pulse’
• an annual celebrations magazine ‘totallyjewishsimchas’
• a community portal ‘wwwtotallyjewishcom’
• an annual wedding exhibition www’totallyjewishsimchas live’
performance highlights
• revenues of £1080000  46 yryr
• ebitda of £252000 138 yryr
• operating profit of £228000 192 yryr
operational highlights
this division continued to consolidate its growing reputation as the number one jewish media organisation in the uk
in 2009 an events division was launched through a wedding exhibition totallyjewishsimchascom at the village hotel elstree
herts the exhibition was attended by over 1500 visitors and 80 paying exhibitors
a series of qa sessions with high profile political leaders saw david milliband and boris johnson face questions from over 150
paying jewish news readers and in q1 2010 shadow foreign secretary william hague continued this high profile initiative
an aggressive marketing campaign was launched which included the creation of a new media pack and website
thejngroupcom as well as individual promotional websites for each of the two magazines in the divisions portfolio pulse
wwwjnpulsecouk and tj simchas magazine wwwtjsimchamagcouk a showreel promoting the work of the jn media
group is expected to be launched in q2 2010
outlook for 2010
the aim is to continue to develop and expand the portfolio including the launch of an education exhibition for the jewish
community combined with the annual wedding exhibition the short to medium term objective is to grow the revenue of the
event division for the events division so that it accounts for 10 of the publishing division’s revenues exhibitions are seen as
a growth area and provide a realistic cross selling opportunity to existing clients within the division
the annual celebrations magazine totallyjewishsimchas will be published quarterly the lifestyle magazine pulse is already
published four times a year which will mean eight glossy magazines will be published in 2010
newspaper • magazines • online • events
n
accounts 2009  12410  1619  page 7 ceo’s statement
continued
totally communications “tc” the group’s digital marketing business with three main service sectors
1 website and software design  development
2 consultancy  systems integration
3 online marketing
performance highlights
• revenues of £628000 3 yryr
• ebitda of £210000 12 yryr
• operating profit of £205000 11 yryr
operational highlights
tc were delighted to have won a multiagency pitch for celebrity led charity global cool’s new website launched at 2009
london fashion week
during the period under review tc was selected by jp morgan to construct a significant system for a mentoring charity african
caribbean diversity and other notable new account wins included a new website for the barbarians rugby club and a high
profile online proposition for the ghurkha welfare trust and their debt of honour campaign which was spearheaded by joanna
lumley
significant research and development was undertaken to develop the ‘next generation’ of the division’s proprietary website
content management system ”pelorous” the current inhouse content management system underpins 80 individual
applications and is used daily by over 500 users existing users will be migrated onto pelorous over the next 12 months and
all new clients will have their website developed through the system this will give the division an improved competitive
advantage in tenders by deskilling the development process and reducing the time taken to deliver projects
outlook for 2010
management expect to achieve organic growth in this division in 2010 through the launch of its new search engine marketing
division rise digital wwwrisedigitalcom the development of the rise brand and communication materials was undertaken
in q4 in 2009 and launched in q1 2010
6
digital marketing division overview
accounts 2009  12410  1619  page 8