**REGISTERED COMPANY NUMBER: 02845852 (England and Wales) REGISTERED CHARITY NUMBER: 1037084** ## **TRUSTEES' REPORT AND** **AUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 MARCH 2022** **FOR** ## **THE JERICHO FOUNDATION** **THE JERICHO FOUNDATION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2022** |||**Page**|| |---|---|---|---| |**Trustees' Report**|1|to|7| |**Report of the Independent Auditors**|8|to|10| |**Statement of Financial Activities**||11|| |**Statement of Financial Position**||12|| |**Statement of Cash Flows**||13|| |**Notes to the Statement of Cash Flows**||14|| |**Notes to the Financial Statements**|15|to|24| |**Detailed Statement of Financial Activities**|25|to|26| **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 30 March 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **STRATEGIC REPORT** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 02845852 (England and Wales) ## **Registered Charity number** 1037084 ## **Registered office** 196-198 Edward Road, Balsall Heath Birmingham West Midlands B12 9LX ## **Trustees** The Trustee and officers serving during the year and since the year end were as follows: Graham Cook Michael Royal (resigned 18/11/21) Martin Warner (resigned 21/07/22) Eleanor Searley Zac Dixon Colin Marsh (appointed 21/07/22) David Wickens (appointed 21/07/22) Uniqua Brown (appointed 21/07/22) James Crystal (appointed 21/07/22) ## **Banker** Unity Trust Bank 9 Brindley Place Brimingham B1 2HB ## **Auditors** Copia Wealth & Tax Limited Chartered Accountants Statutory Auditors 8 Pendeford Place Pendeford Business Park Wobaston Road Wolverhampton WV9 5HD Page 1 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** ## **PERFORMANCE FOR THE YEAR 2021/22** Overall the 21/22 financial year went better than expected for Jericho with reasonable social impact and a financial surplus (compared with a break even budget). It was a year in which Covid continued to affect the population but we saw much less serious illness and death and the world began to move on to new challenges: the Russian invasion of Ukraine, spiralling fuel and energy costs and a cost of living crisis. Beneficiary recruitment was slightly down on 'normal' years due to the continuing uncertainty around Covid but despite this, overall, we supported 131 beneficiaries in the year of which over 100 undertook paid work in one of our social enterprises. 82% of leavers progressed onto positive outcomes, including 91% of completers and we delivered 5,393 person days of supported employment and £1.329m of social value (calculated using the Social Value Portal software). Our Equiano Plus project, working with survivors of modern slavery, continued to go from strength to strength with beneficiaries taking up placements in Wood Shack, Reception, Change Kitchen and Cleaning during the year. In addition our thought leadership work around modern slavery included lecturing at Birmingham City University, radio interviews and contribution to significant policy reports including the CSJ's A Path to Freedom and Justice and Lord McColl's amendment to the nationality and borders bill. We also delivered modern slavery training for a range of corporates as diverse as the building company, Sir Robert McAlpine, and Santander bank. We recruited 14 new apprentices during the year, in addition to continuing to support those already on programme. We also succeeded in progressing our Workwise project for Yr 10 and 11 kids at risk of exclusion with our first 7 pupils joining the programme. Workwise had previously been delayed by the Covid pandemic as schools had to focus on their internal Covid protocols. Some of our Ignition Pathways job clubs came back to life during the year, but many remained closed as churches struggled with finding their new normal. We thus re-focussed on giving extra skills to volunteers who are already working with vulnerable individuals at food banks, pantry's, community hubs and debt advice centres, to equip them to have employment focussed conversations with their service users. We also expanded the programme to include coaching skills training, in recognition of the wider challenges many people are now facing. Overall, it was a reasonable year for our social enterprises, with business returning to somewhere near normal in most areas and an overall contribution of circa £180k in the year which compares well with pre covid levels. Jericho Cleaning in particular had an exceptional year with record turnover and profit levels. This is partly due to the increased attention on infection control caused by the pandemic, but also boosted by a number of contracts linked to the preparation works for the Commonwealth Games which was held in July/August 2022. ReUsers saw foot fall return to around 80% of pre covid levels, but we also began to reap the rewards of last year's investment in infrastructure, with new departments opening in previously underutilised areas of the site. By the end of the year plans were in place for a return to 7 day opening and we had also started a work trial with a full time professional Ebayer, to increase our online retail income. At the time of writing (November 22), it is clear that both of these initiatives were excellent business decisions. This year also saw us take our first steps on our journey towards being able to being able to offer accommodation to individuals with the repurposing of Timbers, a 6 bed HMO, as accommodation for vulnerable female survivors and the commencement on site of a project to create five 1 bed flats for survivors of domestic violence. We also succeeded in securing a grant of £75k towards the refurbishment and extension of Change Kitchen's premises, which will triple the size of the kitchen space (and thus beneficiary capacity) as well as creating a hot food takeaway in which we can pilot an idea we have for a healthy vegetarian fast food chain. This year Mike Royal left the Jericho board after serving a term of nearly 5 years. We are hugely grateful for the wisdom and energy that Mike brought to Jericho through some of our toughest years and wish him well with future endeavours. This also prompted us to commence a trustee recruitment process, with a focus on expanding the skill base and increasing lived experience on board. We are pleased to report that this process was very successful and, at the time of writing, we now have a strong and diverse board of 7 trustees who are well equipped to guide us in the season ahead. Page 2 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** ## **Objects of the Charity** The objects and mission statement as set out in the Memorandum of Association are:- 1. To promote the relief of those in need, hardship, distress or other disadvantage due to youth, age, financial hardship, poverty, illness, disability or homelessness. 2. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause 'socially excluded' means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; poor educational or skills attainment; relationship and family breakdown; poor housing; crime (either as a victim of crime or as an offender rehabilitating into society). 3. The relief of unemployment for the benefit of the public in such ways as may be thought fit, including assistance to find employment. 4. To provide facilities in the interests of social welfare for recreation and leisure time occupation, with the object of improving the conditions of life for the inhabitants of the said city. 5. To pursue any other charitable purpose which the charity thinks fit for pursuit, in conjunction with any of the charitable purposes aforesaid which are pursued under a Christian ethos. ## **Mission Statement** Jericho seeks to help those most disadvantaged in our communities The mission statement used on a day to day basis is "Jericho supports individuals to become fulfilled, skilled and employed". ## **How our activities deliver public benefit** The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. Our main activities and who we try to help are described above. Our charitable activities focus on helping disadvantaged people to find solution to the problems they face and are undertaken to further our charitable purposes for the public benefit. ## **Strategies for achieving aims** In order to achieve our aims Jericho offers voluntary and paid work experience placements and/or apprenticeships in our social enterprise businesses (and partner enterprises) in the following vocational areas: - Catering and Hospitality - Cleaning - Laundry Services - Construction (various trades) - Wood Recycling - Retail (in our ReUsers and Wood Shack social enterprises) - Business administration and reception We also offer the following services, both to clients working in our social enterprise businesses, and to others who come to us through drop-in or outreach activities: ## **Advice and guidance** - Individually tailored skills coaching - Mentoring - Personal development programmes (confidence building, motivation, self-esteem etc.) - Social skills development - Emotional and psychological support - Benefits advice - Specialist support (i.e. drugs, alcohol, debt, housing etc.) Page 3 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** - Employability skills training - Job search advice - Vocational training In addition, we train and equip churches and other faith/community groups to run employability training courses and job clubs to help unemployed people in their local areas through the Ignition Pathways Programme. We also support start-up businesses, social enterprises and charities through our co-working and business incubation facility called Jericho Workspace. ## **Financial Review** Income for the year amounted to £1,910,564 (2021: £1,833,095), whilst expenditure amounted to £1,831,766 (2021: £1,587,291). This gave rise to a surplus of £78,798 (2021: £245,804) and an increase in unrestricted funds for the year to £617,180, as shown on the Statement of Financial Activities. Total funds carried forward at 30 March 2022 are £838,631 (2021: £759,833). ## **Reserves Policy** The Trustees have agreed a policy to aim towards maintaining reserves at a minimum level of 3 months' essential expenditure and a maximum of 6 months' expenditure. This will allow the charity to be resilient, properly manage its finances and deal with future funding issues. This means the required level of reserves is between £422,000 and £844,000. The Trustees have also decided that the best measure of reserves for the Charity is the unrestricted funds which amounted to £617,180. ## **Principal Funding Sources** During the year we received £761,987 (2021: £1,033,088) to provide focussed support for our clients. This funding used to be primarily from statutory sources, but is now mainly grant making trusts. Social Enterprise / trading income amounted to £1,148,577 (2021: £800,007), which included Wood Recycling, ReUse, and Cleaning activities. These operations provide the supported work placements for clients. We would like to thank all of the many individuals, churches, companies and grant making trusts that funded our work during the course of the year. This includes the following: Arnold Clark Community Fund BBC Children in Need British and Foreign School Society (BFSS) Charles Brotherton Trust DCR Allen Charitable Trust Ecclesiastical Insurance Office plc Edgar E Lawley Foundation Esmee Fairbairn Foundation G J W Turner Trust Goldieslie Lodge Benevolent Fund Grantham Yorke Trust H E & E L Botteley Charitable Settlement IM Properties Plc Miss Albright Grimley Charity National Lottery Community Fund - Reaching Communities National Lottery Community Fund - Awards for all Paul Hamlyn Foundation Real Life Church R S Brownless Charitable Trust Souter Charitable Trust Sutton Coldfield Baptist Church Sutton Coldfield Charities The Alfred Haines Charitable Trust The Balcombe Charitable Trust The Clothworkers' Foundation Page 4 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** The Edward Gostling Foundation The Edward & Dorothy Cadbury Charitable Trust The Eric W. Vincent Trust Fund The Eveson Charitable Trust The George Henry Collins Charity The Grimmitt Trust The Haramead Trust The Helianthus Charitable Trust The Henhurst Charitable Trust The Joseph Hopkins & Henry James Sayer Charity The Lillie C Johnson Charitable Trust The Prime Foundation The Rank Foundation The Roger & Douglas Turner Charitable Trust The Saintbury Trust The William A Cadbury Charitable Trust ## **Risk Management** All significant activities undertaken are subject to a risk review as part of initial project assessments and implementation. Major risks are identified and their potential impact and likelihood evaluated. These risks are kept under regular review by the Executive Management Team and the Trustees to satisfy themselves that adequate system and procedures are in place to manage the identified risks. Where appropriate, the risks are covered by insurance. The following framework is central to ensuring adequate risk assurance:- o Regular monitoring of major risks and development of action plans o Embedding risk identification and assessment within operating procedures o A clear structure of delegated authority and control o Review of key systems and procedures o Regular summary reports on risk management to the Trustees. In assessing risk, the Trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved. ## **Principal risks and uncertainties** The 3 main risks identified last year and the mitigating actions taken are: ## **Covid 19 related business risks** Clearly the impacts of the pandemic have continued to be our biggest single risk in the last year. We have continued to mitigate these risks through good infection control procedures, strict adherence to government guidance and, where appropriate, accessing Covid related grants and support. We have also adapted our social enterprise models to reflect changes in customer behaviour as a result of the pandemic, including significantly increasing our online retail activity. ## **Health and Safety risks** Health and Safety became a much bigger risk during the pandemic, so in the last year, we have continued to mitigate these risks by increased health and safety manager hours, intensive staff training and provision of 'best in class' Covid safety measures on all of our sites. ## **Financial risks i.e. relatively poor balance sheet, low reserves, poor cash flow** We have further reduced this risk over previous years through careful stewardship of existing resources and excellent fundraising, including securing £75k towards the refurbishment and extension of Change Kitchen's facilities at our Balsall Heath HQ building. Unrestricted funds/reserves have been maintained well above minimum levels and cash flow remains good. Page 5 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** ## **Future Plans** The Trustees and Senior Management Team revisited our strategic plan at a strategy day held in September 2021. The team agreed that this was not the time for radical change, as the post Covid future is still uncertain. However, they agreed some principles for our work in the year ahead as follows: - Replicate some of our existing social enterprises into nearby geographic locations - Broaden the offer of existing SE's to include new goods and services **-** Focus on growing social impact - not turnover, headcount or outputs - use the Social Value Portal to measure success. **-** Invest in the right people in the right places to build a more resilient staffing structure and trustee board. - ESG focus - we will seek to maximise the benefit to Jericho of the increasing prioritisation of Environmental, Social and Governance issues in the corporate/business worlds through a targeted corporate engagement and fundraising programme. ## **Structure, Governance and Management** ## **Governing Document** The organisation is a charitable company limited by guarantee, incorporated on 18 August 1993 and registered as a charity on 28 April 1994. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10 per member. ## **Method of appointment of Directors and members** The Directors of the charity are the charity's trustees as defined by section 177 of the Charities Act 2011. The minimum numbers of directors is three. One third of the Directors come up for re-election every three years. The voting takes place at the AGM. Any person wishing to become a member of the charity may apply to the charity in the form required by the Directors and must be approved by the Directors. The Directors may only refuse an application for membership if, acting reasonably and properly, they consider it to be in the best interests of the charity to refuse the application. If membership is granted to individuals or organisations which are not also Directors, an amendment to the Articles of Association of the charity will be required. ## **Induction and Training of Directors** New Directors are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the Board of Directors and its decision-making processes, future plans and recent financial performance. All Directors are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. ## **Organisational Structure & Decision Making** The Directors manage the business of the charity and may exercise all the powers of the charity unless they are subject to any restrictions imposed by the Companies Act, or the articles, or any special resolution. The Directors meet a minimum of four times a year to consider major decisions of the charity. There are currently no sub-committees of the Board of Directors. The Chief Executive is responsible for the day-to-day management of the charity and for implementing policies agreed by the Directors. The Chief Executive is assisted by a group of senior managers (the Senior Management Team). ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of The Jericho Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 6 **THE JERICHO FOUNDATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 MARCH 2022** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, Copia Wealth & Tax Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 21 December 2022 and signed on the board's behalf by: G Cook - Trustee Page 7 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE JERICHO FOUNDATION** ## **Opinion** We have audited the financial statements of The Jericho Foundation (the 'charitable company') for the year ended 30 March 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. ## In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 30 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorized for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Trustees' Report has been prepared in accordance with applicable legal requirements. Page 8 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE JERICHO FOUNDATION** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 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 or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. - We review financial statement disclosures and undertake testing to supporting documentation to assess compliance with applicable laws and regulations. - We perform audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business. - We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. - We enquire of management around actual and potential litigation and claims. - We conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the union's ability to continue as a going concern. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 9 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE JERICHO FOUNDATION** ## **Use of our report** This report is made solely to the charitable 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 charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## S D Philpott Shaun Philpott FCA (Senior Statutory Auditor) for and on behalf of Copia Wealth & Tax Limited Chartered Accountants Statutory Auditors 8 Pendeford Place Pendeford Business Park Wobaston Road Wolverhampton WV9 5HD 21 December 2022 Page 10 **THE JERICHO FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 MARCH 2022** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Income from charitable activities
3
**Total**
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
4
**Charitable activities**
5
Grants- support costs
Social enterprise activities
Charitable activities
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
21
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**132,699**
**1,148,577**
**1,281,276**
**80,772**
**80,772**
**121,510**
**487,398**
**489,710**
**1,179,390**
**101,886**
**10,000**
**111,886**
**505,294**
**617,180**|Restricted
funds
£
**629,288**
**-**
**629,288**
**-**
**-**
**-**
**-**
**652,376**
**652,376**
**(23,088)**
**(10,000)**
**(33,088)**
**254,539**
**221,451**|**2022**
**Total**
**funds**
**£**
**761,987**
**1,148,577**
**1,910,564**
**80,772**
**80,772**
**121,510**
**487,398**
**1,142,086**
**1,831,766**
**78,798**
**-**
**78,798**
**759,833**
**838,631**|2021
Total
funds
as restated
£
1,033,088
800,007| |---|---|---|---|---| |||||1,833,095| |||||59,868| |||||59,868
110,733
353,481
1,063,209| |||||1,587,291| |||||245,804
-| |||||245,804
514,029| |||||759,833| The notes form part of these financial statements Page 11 **THE JERICHO FOUNDATION** ## **STATEMENT OF FINANCIAL POSITION 30 MARCH 2022** |Notes
**FIXED ASSETS**
Tangible assets
12
Social investments
13
**CURRENT ASSETS**
Stocks
14
Debtors
15
Cash in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
17
**NET ASSETS**
**FUNDS**
21
Unrestricted funds:
General fund
Revaluation reserve
Restricted funds
**TOTAL FUNDS**|**2022**
**£**
**588,930**
**660,379**
**1,249,309**
**162,783**
**171,773**
**379,629**
**714,185**
**(384,941)**
**329,244**
**1,578,553**
**(739,922)**
**838,631**
**495,729**
**121,451**
**617,180**
**221,451**
**838,631**|2021
as restated
£
550,377
600,000
1,150,377
99,707
203,884
359,830
663,421
(206,123)
457,298
1,607,675
(847,842)
759,833
380,024
125,270
505,294
254,539
759,833| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2022 and were signed on its behalf by: G Cook - Trustee The notes form part of these financial statements Page 12 ## **THE JERICHO FOUNDATION** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 MARCH 2022** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of social investments
Net cash used in investing activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2022**
a
**£**
**313,163**
**(30,918)**
**282,245**
**(72,202)**
**(139,821)**
**(212,023)**
**(50,423)**
**(50,423)**
**19,799**
**359,830**
**379,629**|2021
s restated
£
446,048
(27,514)
418,534
(18,795)
-
(18,795)
(39,909)
(39,909)
359,830
-
359,830| |---|---|---| The notes form part of these financial statements Page 13 **THE JERICHO FOUNDATION** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 MARCH 2022** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**| |---|---|---|---| |||**2022**|2021| ||||as restated| |||**£**|£| ||**Net income for the reporting period (as per the Statement of Financial**||| ||**Activities)**|**78,798**|245,804| ||**Adjustments for:**||| ||Depreciation charges|**113,091**|35,769| ||Interest paid|**30,918**|27,514| ||(Increase)/decrease in stocks|**(63,076)**|168,763| ||Decrease in debtors|**32,111**|23,182| ||Increase/(decrease) in creditors|**121,321**|(54,984)| ||**Net cash provided by operations**|**313,163**|446,048| ## 2. ## **ANALYSIS OF CHANGES IN NET DEBT** ||At 31.3.21|Cash flow|**At 30.3.22**| |---|---|---|---| ||£|£|**£**| |**Net cash**|||| |Cash at bank|||| |and in hand|**359,830**|**(340,031)**|**379,629**| ||**359,830**|**(340,031)**|**379,629**| |**Debt**|||| |Debts falling due|||| |within 1 year|**(24,613)**|**(57,497)**|**(82,110)**| |Debts falling due|||| |after 1 year|**(847,842)**|**107,920**|**(739,922)**| ||**(872,455)**|**50,423**|**(822,032)**| |**Total**|**(512,625)**|**(289,608)**|**(442,403)**| The notes form part of these financial statements Page 14 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. ## **Going concern** The financial statements have been prepared on a going concern basis as the trustee believe that no material uncertainties exist. The trustee have considered the level of fund held and the expected level of income and expenditure for 12 month from authorizing these financial statement. The budgeted income and expenditure is sufficient with the level of reserve for the charity to be able to continue as a going concern. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the followings basis: |Freehold Property|**2.5% Straight line**| |---|---| |Equipment|**25% Straight line**| ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **2. DONATIONS AND LEGACIES** ||**Unrestricted**
**funds**|**Restricted**
**funds**|**2022**|**2021**| |---|---|---|---|---| ||£|£|£|£| |Donations received|24,645|8,125|32,770|481,017| |Grants received|108,054|621,163|729,217|552,071| |||||| ||**132,698**|**629,288**|**761,987**|1,033,088| |||||| ## **3. INCOME FROM CHARITABLE ACTIVITIES** ||**2022**|**2021**| |---|---|---| ||£|£| |Unrestricted funds||| |Social Enterprise activities||| |Income from charitable activities|1,076,959|717,409| |||| |Activity 3||| |Income from charitable activities|71,618|82,598| |||| ||**1,148,577**|800,007| |||| Page 15 continued... **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **4. RAISING DONATIONS AND LEGACIES** ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |**Unrestricted funds**||| |Donations|**80,772**|59,868| |||| ||**80,772**|59,868| |||| ## **5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE** ||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**2022**|**2021**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |Grants and contracts|-|227,912|227,912|253,615| |Social enterprise activities|620,186|293,988|914,174|809,594| |Support costs|478,434|130,474|608,908|464,214| |||||| ||**1,098,620**|**652,376**|**1,750,994**|1,527,423| |||||| ## **Costs of charitable activities by activity type** ||**Activities**
**undertaken**
**directly**|**Support**
**costs**|**2022**|**2021**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |Grants and contracts|227,912|121,510|349,422|364,348| |Social enterprise activities|914,174|487,398|1,401,572|1,163,075| |||||| ||**1,142,086**|**608,908**|**1,750,994**|1,527,423| |||||| ## **6. SUPPORT COSTS** ||**Grants and**
**contracts**|**Social**
**enterprise**
**activities**|**2022**|**2021**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |Finance|6,814|27,333|34,147|29,104| |Staff salaries & Related|51,572|206,861|258,433|214,326| |Communication costs|1,063|4,263|5,326|5,654| |Office costs|4,785|19,196|23,981|23,373| |Premises costs|8,226|32,997|41,223|35,593| |Deprecation|22,568|90,523|113,091|35,769| |Legal and professional|16,793|67,360|84,153|61,499| |Governance costs|9,689|38,865|48,554|58,896| |||||| ||**121,510**|**487,398**|**608,908**|464,214| |||||| Page 16 continued... **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **7. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Depreciation - owned assets
Auditors' remuneration £6,000 (£5,400 in 2021).|**2022**
as
**£**
**33,649**|2021
restated
£
25,770| |---|---|---| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 March 2022 nor for the year ended 30 March 2021. ## **Trustees' expenses** During the year no transactions have taken palace between the charity and the trustees and senior management team. The trustees consider that in certain circumstances it is in the interests of the charity for the trustees to use the services of the charity's social enterprises rather than alternative suppliers. ## **9. STAFF COSTS AND EMOLUMENTS** Totals staff costs for the period ended 30 March 2022 were: ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Salaries and wages|**1,062,439**|888,531| |Social security costs|**78,040**|59,926| |Pension costs|**44,335**|28,904| |||| ||**1,184,185**|977,361| |||| The average number of employees for the year were 62 (57 in 2021). There was one member of staff with the salary in the band range £60,001 to £70,000. continued... Page 17 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**2021**| |---|---|---|---| ||**£**|**£**|**£**| |**Income and endowments from**|||| |Donations and legacies|467,392|565,696|1,033,088| |Charitable activities|800,007|-|800,007| ||||| |**Total**|**1,267,399**|**565,696**|**1,833,095**| ||||| ||||| |Expenditure on:|||| |Raising funds|(59,868)|-|(59,868)| |Charitable Activities|(985,172)|(542,251)|(1,527,423 )| |**Total**|||| ||**1,045,040**|**(542,251)**|**(1,587,291 )**| ||||| ||||| |**Transfer between funds**|10,000|(10,000)|-| |**Net Movement in funds**|||| ||**232,359**|**13,445**|**245,804**| ||||| ||||| |**Reconciliation of fund**|||| |Total Funds brought forward|272,935|241,094|514,029| ||||| |**Total fund carried forward**|**505,294**|**254,539**|**759,833**| ||||| ## **11. PRIOR YEAR ADJUSTMENT** During the year, the brought forward balance on the Revaluation Reserve was reviewed and found to be overstated at 30 March 2021 by £104,198 with a corresponding understatement of the General Unrestricted Fund. The Revaluation Reserve and Unrestricted General Fund balances as at 30 March 2021 have been restated accordingly. continued... Page 18 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **12. TANGIBLE FIXED ASSETS** ||**Freehold**
**Property**|**Equipment**|**Total**| |---|---|---|---| ||**£**|**£**|**£**| |**Cost or Valuation**|||| |At 31st March 2021|550,000|355,367|905,367| |Additions|-|72,202|72,202| ||||| |**At 30th March 2022**|**550,000**|**427,569**|**977,569**| ||||| ||||| |**Depreciation**|||| |At 31st March 2021|27,500|327,490|354,990| |Charge|13,750|19,899|33,649| |**At 30th March 2022**|||| ||**41,250**|**347,390**|**388,640**| ||||| ||||| |**Net Book Value**|||| |At 30 March 2022|**508,750**|**80,179**|**588,929**| ||||| |At 30 March 2021|522,500|27,877|550,377| ||||| The Freehold Property was professionally revalued by Chivers Chartered Surveyors on 24 September 2019 on an open market basis £550,000. In respect of freehold property stated at valuation, the comparable historic cost and depreciation values were as follows: |Historic cost
Accumulated deprecation
**Net Book Value**
.
**13.**
**SOCIAL INVESTMENTS**
**MARKET VALUE**
At 31 March 2021
Additions
Impairments
At 30 March 2022
**NET BOOK VALUE**
At 30 March 2022
At 30 March 2021|||**2022(£)**||**2021(£)**| |---|---|---|---|---|---| ||||**681,129**||681,129| ||||**(269,060)**||(252,031)| ||||||| ||||||| ||||**412,069**||**429,098**| ||||||| ||||||| ||Programme
Related
Investment
£
**150,000**
**-**
**(10,000)**
**140,000**
**140,000**
150,000||Mixed
Motive
Investments
£
**450,000**
**139,821**
**(69,442)**
**520,379**
**520,379**
450,000||Totals
£
**600,000**
**139,821**
**(79,442)**
**660,379**
**660,379**
600,000| continued... Page 19 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **13. SOCIAL INVESTMENTS - continued** The Mixed Motive Investments was professionally revalued by Chivers Chartered Surveyors on 24 September 2019 on an open market basis £450,000. This was prior to recent refurbishment, which was in progress at 30 March 2022. ## **14. STOCKS** |Donated goods for resale
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income|**2022**
a
**£**
**162,783**
**2022**
a
**£**
**115,683**
**1,209**
**54,881**
**171,773**|2021
s restated
£
99,707
2021
s restated
£
127,413
1,223
75,248
203,884| |---|---|---| ## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**2022**
a
**£**
Bank loans and overdrafts (see note 18)
**82,110**
Trade creditors
**19,473**
Social security and other taxes
**39,033**
Other creditors
**20,728**
Accruals and deferred income
**223,597**
**384,941**
**17.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2022**
a
**£**
Bank loans (see note 18)
**739,922**|2021
s restated
£
24,613
38,988
37,434
19,752
85,336
206,123
2021
s restated
£
847,842| |---|---| continued... Page 20 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **18. LOANS** An analysis of the maturity of loans is given below: |Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
**19.**
**SECURED DEBTS**
The following secured debts are included within creditors:
Secured Loan
The bank loan is secured on the fixed assets of the charity.
**20.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
**588,930**
Investments
**520,379**
Current assets
**632,734**
Current liabilities
**(384,941)**
Long term liabilities
**(739,922)**
**617,180**|Restricted
funds
£
**-**
**140,000**
**81,451**
**-**
**-**
**221,451**|**2022**
a
**£**
**82,110**
**328,440**
**411,482**
**2022**
a
**£**
**678,686**
**2022**
a
Total
funds
**£**
**588,930**
**660,379**
**714,185**
**(384,941)**
**(739,922)**
**838,631**|2021
s restated
£
24,613
328,440
519,402
2021
s restated
£
696,705
2021
s restated
Total
funds
£
550,377
600,000
663,421
(206,123)
(847,842)
759,833| |---|---|---|---| continued... Page 21 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **20. ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued** ## **Movement on Funds** ||At 31st
March 2021|Income|Expenditure|Transfer|At 30th
March 2022| |---|---|---|---|---|---| ||||||| |Revaluation Reserve|125,270|||(3,819)|121,451| |General Fund|380,024|1,281,276|(1,179,390 )|13,819|495,729| ||||||| |**Total Unrestricted Funds**|**505,294**|**1,281,276**|**(1,179,390 )**|**10,000**|**617,180**| ||||||| |**Restricted Funds**|||||| |Salisbury Road|150,000|-|-|(10,000)|140,000| |Arnold Clark Community Fund|-|1,000|(1,000)|-|-| |BBC Children in Need|-|53,221|(53,221)|-|-| |British and Foreign School Society
(BFSS)|9,975|-|(9,975)|-|-| |Charles Brotherton Trust|-|150|(150)|-|-| |DCR Allen Charitable Trust|-|3,000|(3,000)|-|-| |Ecclesiastical Insurance Office plc|16,667|-|(16,667)|-|-| |Edgar E Lawley Foundation|-|1,500|(1,500)|-|-| |Esmee Fairbairn Foundation|41,087|66,961|(63,407)|-|44,641| |G J W Turner Trust|-|2,000|(2,000)|-|-| |Goldieslie Lodge Benevolent Fund|-|1,000|(1,000)|-|-| |Grantham Yorke Trust|-|6,000|(6,000)|-|-| |H E & E L Botteley Charitable
Settlement|-|500|(500)|-|-| |IM Properties Plc|-|500|(500)|-|-| |Miss Albright Grimley Charity|-|500|(500)|-|-| |National Lottery Community Fund -
Reaching Communities|26,811|104,899|(104,899)|-|26,811| |National Lottery Community Fund -
Awards for all|-|9,990|(9,990)|-|-| |Paul Hamlyn Foundation|-|130,000|(130,000)|-|-| |Real Life Church|-|1,000|(1,000)|-|-| |R S Brownless Charitable Trust|-|200|(200)|-|-| |Souter Charitable Trust|-|3,000|(3,000)|-|-| |Sutton Coldfield Baptist Church|-|6,625|(6,625)|-|-| |Sutton Coldfield Charities|-|113,212|(113,212)|-|-| |The Alfred Haines Charitable Trust|-|1,000|(1,000)|-|-| |The Balcombe Charitable Trust|10,000|20,000|(10,000)|-|10,000| |The Clothworkers' Foundation|-|15,000|(15,000)|-|-| |The Edward Gostling Foundation|-|5,000|(5,000)|-|-| |The Edward & Dorothy Cadbury
Charitable Trust|-|5,000|(5,000)|-|-| |The Eric W. Vincent Trust Fund|-|500|(500)|-|-| |The Eveson Charitable Trust|-|12,000|(12,000)|-|-| |The George Henry Collins Charity|-|2,000|(2,000)|-|-| |The Grimmitt Trust|-|2,000|(2,000)|-|-| |The Haramead Trust|-|5,000|(5,000)|-|-| |The Helianthus Charitable Trust|-|300|(300)|-|-| |The Henhurst Charitable Trust|-|750|(750)|-|-| |The Joseph Hopkins & Henry James
Sayer Charity|-|1,000|(1,000)|-|-| |The Lillie C Johnson Charitable Trust|-|500|(500)|-|-| |The Prime Foundation|-|980|(980)|-|-| continued... Page 22 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **20. ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued** |The Rank Foundation|-|30,000|(30,000)|-|-| |---|---|---|---|---|---| |The Roger & Douglas Turner Charitable
Trust|-|1,000|(1,000)|-|-| |The Saintbury Trust|-|2,000|2,000|-|-| |The William A Cadbury Charitable
Trust|-|20.000|20,000|-|-| ||||||| |**Total Restricted Funds**|**254,539**|**629,288**|**(652,376) **|**(10,000)**|**221,451**| ||||||| |**Total Funds**|**759,833**|**1,910,564**|**(1,831,766 )**|**-**|**838,631**| ||||||| ## **21. MOVEMENT IN FUNDS** ## **Unrestricted Funds** ||**Balance at**
**31/03/2021**|**Incoming**
**resources**|**Outgoing**
**resources**|**Balance at**
**Transfer**
**30/03/2022**| |---|---|---|---|---| |General||||| |||||| |General|380,024|1,281,276|(1,179,390 )|13,819
495,729| |||||| ||**380,024**|**1,281,276**|**(1,179,390 )**|**13,819**
**495,729**| |||||| ## **Unrestricted Funds- Previous year** |||**Balance at**
**31/03/2020**|**Incoming**
**resources**||**Outgoing**
**resources**|**Balance at**
**Transfer**
**30/03/2021**| |---|---|---|---|---|---|---| |General||||||| |||||||| |General||144,368|1,267,399||(1,045,040 )|13,297
380,024| |||||||| |||||||| |||**144,368**|**1,267,399**||**(1,045,040 )**|**13,297**
**380,024**| |||||||| |||||||| |**Restricted Funds**||||||| |||**Balance at**
**31/03/2021**|**Incoming**
**resources**||**Outgoing**
**resources**|**Balance at**
**Transfer**
**30/03/2022**| |General||||||| |||||||| |General||254,539|629,288||(652,376)|(10,000)
221,451| |||||||| |||||||| |||**254,539**|**629,288**||**(652,376)**|**(10,000)**
**221,451**| |||||||| |||||||| |**Restricted Funds- Previous year**||||||| |||**Balance at**
**31/03/2020**|**Incoming**
**resources**||**Outgoing**
**resources**|**Balance at**
**Transfer**
**30/03/2021**| |General||||||| |||||||| |General||241,094|565,696||(542,251)|(10,000)
254,539| |||||||| |||||||| |||**241,094**|**565,696**||**(542,251)**|**(10,000)**
**254,539**| |||||||| continued... Page 23 **THE JERICHO FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 MARCH 2022** ## **22. RELATED PARTY DISCLOSURES** Mr Zac Dixon a Trustee, is a Director in Jericho Enterprises CIC, a company which was paid £139,821 for refurbishment works. Mr Nick Wallace and Mr Richard Beard are members of the senior management team, and are Directors of Jericho Enterprises CIC. Page 24 ## **THE JERICHO FOUNDATION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 MARCH 2022** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Income from charitable activities**
Social Enterprise activities
Other
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Donations
**Charitable activities**
Social Enterprise activities
Grants and contracts
**Support costs**
**Management**
Wages
**Finance**
Bank charges and loan interest
**Communication costs**
Telephone
**Office costs**
Office costs
**Premises costs**
Premises costs
**Legal and professional**
Legal and professional
**Other costs**
Governance costs
Carried forward|2022
£
**32,770**
**729,217**
**761,987**
**1,076,959**
**71,618**
**1,148,577**
**1,910,564**
**80,772**
**914,174**
**227,912**
**1,142,086**
**258,433**
**34,147**
**5,326**
**23,982**
**41,223**
**84,153**
**48,553**
**48,553**|2021
as restated
£
481,017
552,071| |---|---|---| |||1,033,088
717,409
82,598| |||800,007| |||1,833,095
59,868
809,594
253,615| |||1,063,209
214,326
29,104
5,654
23,373
35,593
61,499
58,896
58,896| This page does not form part of the statutory financial statements Page 25 **THE JERICHO FOUNDATION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 MARCH 2022** |**FOR THE YEAR ENDED 30 MARCH 2022**||| |---|---|---| |**Other costs**
Brought forward
Depreciation of tangible fixed assets
Impairment of investment
Total resources expended
**Net income**|2022
£
**48,553**
**33,649**
**79,442**
**161,644**
**1,831,766**
**78,798**|2021
as restated
£
58,896
25,769
10,000| |||94,665| |||1,587,291| |||245,804| This page does not form part of the statutory financial statements Page 26 **Issuer** Copia Wealth & Tax **Document generated** Thu, 22nd Dec 2022 19:13:26 UTC **Document fingerprint** f815a6ed13e94ca134a27345f52f2188 ## **Parties involved with this document** **Document processed Party + Fingerprint** Fri, 23rd Dec 2022 6:22:48 UTC Mr Graham Irvin Cook - Signer (a22e1067e6f234e145048e07d71a14ad) Fri, 23rd Dec 2022 8:10:35 UTC Shaun Philpott - Signer (3060c48c78b0abe1a6c2c44ec73cf926) ## **Audit history log** **Date Action** Fri, 23rd Dec 2022 8:10:37 UTC Shaun Philpott viewed the envelope. (109.73.121.152) Fri, 23rd Dec 2022 8:10:35 UTC The envelope has been signed by all parties. (109.73.121.152) Fri, 23rd Dec 2022 8:10:35 UTC Shaun Philpott signed the envelope. (109.73.121.152) Fri, 23rd Dec 2022 8:09:17 UTC Shaun Philpott viewed the envelope. (109.73.121.94) Fri, 23rd Dec 2022 6:22:49 UTC Mr Graham Irvin Cook viewed the envelope. (213.129.74.45) Fri, 23rd Dec 2022 6:22:48 UTC Document emailed to party email (18.170.49.136) Fri, 23rd Dec 2022 6:22:48 UTC Sent the envelope to Shaun Philpott for signing. (213.129.74.45) Fri, 23rd Dec 2022 6:22:48 UTC Mr Graham Irvin Cook signed the envelope. (213.129.74.45) Fri, 23rd Dec 2022 6:16:55 UTC Mr Graham Irvin Cook viewed the envelope. (213.129.74.45) Fri, 23rd Dec 2022 6:16:55 UTC Mr Graham Irvin Cook viewed the envelope. (213.129.74.45) Thu, 22nd Dec 2022 19:13:38 UTC Document emailed to party email (35.177.221.199) Thu, 22nd Dec 2022 19:13:28 UTC Sent the envelope to Mr Graham Irvin Cook for signing. (13.40.96.128) Thu, 22nd Dec 2022 19:13:28 UTC Shaun Philpott has been assigned to this envelope. (13.40.96.128) Thu, 22nd Dec 2022 19:13:28 UTC Mr Graham Irvin Cook has been assigned to this envelope. (13.40.96.128) Thu, 22nd Dec 2022 19:13:28 UTC Envelope generated. (13.40.96.128) Thu, 22nd Dec 2022 19:13:28 UTC Document generated with fingerprint f83db43cd08648a2851918c01d19251d. (13.40.96.128) Thu, 22nd Dec 2022 19:13:28 UTC Document generated with fingerprint f815a6ed13e94ca134a27345f52f2188. (13.40.96.128) Thu, 22nd Dec 2022 19:13:26 UTC Envelope generated with fingerprint 9a2378373336f3c165ab8c740e19b718 (35.176.231.177)