**Registered number: 03734127 Charity number: 1075464** ## **THE JIGSAW TRUST** **(A company limited by guarantee)** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2020** ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** |**CONTENTS**|| |---|---| ||Page| |**Reference and administrative details of the charity, its trustees and advisers**|1| |**Trustees' report**|2 - 12| |**Independent auditors' report**|13 - 15| |**Consolidated statement of financial activities**|16| |**Consolidated balance sheet**|17| |**Company balance sheet**|18| |**Consolidated statement of cash flows**|19| |**Notes to the financial statements**|20 - 34| ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020** |**Trustees**|Miss R A G Amofa (appointed February 1, 2021)| |---|---| ||Mrs M Asante, Parent Trustee| ||Mr B B B Ashmore-Short (appointed March 9, 2021)| ||Mrs A E Cox (resigned September 30, 2019)| ||Mr L D Hodge (appointed July 15, 2019, resigned July 13, 2020)| ||Mr R P Jewell (appointed July 15, 2019)| ||Mr A M C Jewsbury (appointed March 10, 2021)| ||Mr C F A Kearney (appointed March 4, 2021)| ||Ms J A Kiely, Chair| ||Mr L McHugh (resigned May 19, 2020)| ||Mr G Prothero, Vice Chair| ||Mr P T B Vickers (appointed July 15, 2019, resigned July 13, 2020)| ||Mrs J L White (appointed January 27, 2020)| |**Company registered**|| |**number**|03734127| |**Charity registered**|| |**number**|1075464| |**Registered office**|19-20 Bourne Court| ||Southend Road| ||Woodford Green| ||Essex| ||IG8 8HD| |**Company secretary**|Ms C F Grant| |**Bankers**|Lloyds Bank Plc| ||25 Gresham Street| ||London| ||EC2V 7HN| Page 1 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020** The Trustees present their annual report together with the audited financial statements of The Jigsaw Trust for the year ended August 31, 2020. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of The Jigsaw Trust are to promote, maintain, improve and advance the education and wellbeing of those affected by an autism spectrum disorder. Jigsaw Trust is committed to raising awareness of autism and to providing facilities, services and resources for the education, integration, guidance, assessment, outreach and support of people affected by autism. ## Our Values We are _**person centred**_ valuing each person, as an individual, respecting their aspirations and commitments in life, and seeking to understand their priorities, needs, abilities and limits. We are _**caring**_ and committed to acting with compassion, integrity, honesty and high ethics in all situations, listening with respect to others and valuing differences. We believe in _**teamwork**_ listening to and respecting each other whilst working with the individuals we support, their families and colleagues to achieve the best results we can. We believe in _**integrity**_ acting professionally at all times, ensuring we are providing the best possible service. We focus on _**continuous learning**_ for all. We value learning, positive feedback, coaching and mentoring. The Jigsaw Trust is founded on the principle of excellence through continual learning and aspires to provide the highest quality of education and lifelong learning possible; to accelerate learning and the ability to learn in new ways as well as acquiring the skills to learn independently through behavioural methods. To this end, we have established and developed services delivered through our school, our social enterprises and the centre for lifelong learning which provides services to adult learners through Jigsaw +, a separate charity of which The Jigsaw Trust is the sole member. Further information on Jigsaw +, including the services provided can be found in the Trustees’ Report for Jigsaw +. Page 2 **THE JIGSAW TRUST (A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** ## **Public benefit** The Jigsaw Trust is established for the public benefit by way of the education and welfare of children and young adults with autism spectrum disorder and related communication disorders, improving the lives of those affected by these lifelong disorders. The Jigsaw Trust has given a high priority to providing public benefit to a cross section of the community regardless of family background, but perhaps the greatest benefit that The Jigsaw Trust can offer is the provision of an education that maximises each student’s potential. The Trustees have had due regard to the public benefit guidance produced by the Charity Commission for England and Wales. - The activities that the charitable company provides that are considered for the public benefit in summary are: ♦ A specialist day school for children with autism spectrum disorder and related communication disorders based on the principles of applied behaviour analysis. It being acknowledged that there is a lack of state provided special educational provision for those on the autistic spectrum who are unable to manage within a mainstream educational setting - ♦ Social enterprises - ♦ Family support by way of outreach services and parent education sessions - ♦ Training for professionals involved in the education and support of children with autism spectrum disorders - ♦ Research opportunities for those with an interest in the education of children with autism and other autistic and related communication disorders - ♦ Raising awareness of the difficulties faced by those affected by autism. These activities are for the benefit of individuals with autism spectrum disorder and related communication disorders, either directly or indirectly by way of supporting parents, carers or professionals involved in the education and welfare of those with autism. The opportunity to benefit is not restricted to any one local authority but is determined by the number of places available at Jigsaw CABAS® School and Pupils' journey times are generally expected to be no longer than one hour for primary aged children and 90 minutes for those secondary aged pupils or beyond. Pupils are expected to have an Educational Health Care Plan. There is no restriction by gender, although more beneficiaries are male rather than female due to the prevalence characteristics of autism. The fees payable to the Trust are significant and would be outside the funding capacity of all but a very few families. Fees are in the main fully paid by the placing Local Authority. ## **Our Services** The Jigsaw CABAS® School The Jigsaw CABAS® School is an independent day school for children and young people with an autism spectrum disorder. We provide education services for pupils aged 4 – 19 years. The Jigsaw CABAS® School is committed to providing a safe and caring environment where all our learners will be given an education of the highest standard and every opportunity to achieve their full potential. The School is a positive environment in which learning both in and out of the classroom is encouraged with the focus on improving outcomes in all curricula. Page 3 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** ## **Social Enterprises** Café on the Park is operated by Jigsaw Trading (2013) Limited, a wholly owned subsidiary of The Jigsaw Trust. The café is open to all those working and visiting Dunsfold Park and provides work experience and life skills learning opportunities for pupils at The Jigsaw CABAS® School, principally those in Key Stages 4 and 5. The Trustees have accepted that Café on the Park has operated at a loss each year since this social enterprise was taken on. This is on the basis that the Café provides a significant benefit to those pupils and adult learners from Jigsaw + as part of their individual learning plans for which no charge is made. The Trustees review and agree the acceptable level of loss for Café on the Park annually. GardenWORKS and ArtWORKS are likewise social enterprises that provide vocational and life learning opportunities for both pupils and adult learners from Jigsaw +. The facilities at GardenWORKS have also been used on a chargeable basis by students from other local special educational needs schools. Income from this is accounted for within the financial results for Jigsaw +. ## **Trust Shared Services** There are a number of business support services provided by Jigsaw Trust to each of Jigsaw CABAS® School, Jigsaw Trading (2013) Limited and Jigsaw + including CEO services, finance, facilities, HR and IT. Staff in these business areas are employed by Jigsaw Trust and the costs associated with these areas are apportioned between The Jigsaw CABAS® School and Jigsaw +. ## **Aims of Jigsaw CABAS® School** To work together as a team to ensure that every pupil achieves their full potential by providing: - a safe, caring and enjoyable environment where all pupils can thrive and grow and become lifelong learners - a specialist approach to learning based on the proven principles of Applied Behaviour Analysis that encourages self esteem and respect for others - an individual needs led programme designed around a broad and balanced curriculum that incorporates the National Curriculum, encourages curiosity and enthusiasm and promotes independence, confidence and resilience - parent education and encouraging partnerships between parents and staff to ensure that pupils are equipped for future challenges - a continuous learning and development programme for teaching staff leading to recognised qualifications. ## **Our Strategy and Future Plans** The Trustees work closely with the executive management team to ensure the future growth of Jigsaw Trust. Improving facilities, services and resources for the education, integration, guidance, assessment, outreach and support of people affected by an autism spectrum disorder and to promote a greater knowledge and understanding of autism spectrum disorders by the public and those concerned with the welfare of those affected by autism throughout the local community In line with the detailed strategic review undertaken in 2018-19, the focus of Jigsaw Trust remains to support the growth and development of the charity's current activities and aspirations and to investigate ways in which the strategic vision of an integrated life-long learning model for those on the autism spectrum throughout their lives can be taken forward. This also includes building on our existing staff learning and development capabilities to develop a training platform that can be accessed by the wider community, thus providing an additional income stream. Page 4 ## **THE JIGSAW TRUST (A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** In line with our growth strategy, placements within the school have increased. We have continued to maintain high standards of delivery within our services, demonstrated through an increasing demand for places and we are recognised as experts in our field for education services, high quality staff training and CPD opportunities. We have continued to offer certified training for staff and have also taken the opportunity to publish our latest research in peer reviewed journals to share best practice. We are committed to continuing to provide sustainable high-quality services and activities that promote the education and support for those individuals whose lives are affected by autism. In developing our strategic vision, Jigsaw Trust will continue in its commitment to providing value for money to stakeholders. ## **Achievements and performance** ## **Jigsaw CABAS® School** At Jigsaw CABAS® School, our longest established activity, we have continued with our strong record of achievement. The number of pupils attending the school has increased during the 2019 – 20 academic year with 66 pupils on roll as at 31st August 2020 compared to 62 at the start of the academic year. The Trust has entered into an agreement with Surrey County Council that provides for a rebate on fees payable if a given number of pupils are placed for an entire academic year and other conditions are met. In the opinion of the Trustees this provides an element of certainty around pupil numbers and is of benefit to both parties. The Jigsaw CABAS® School continued to remain open during the Covid - 19 lockdown from 22nd March 2020 in line with the guidance issued by the Department for Education regarding vulnerable pupils and children of keyworkers. A number of pupils did not attend either because they were shielding or through parental choice. Where feasible, staff provided resources for home schooling and in all cases regular contact was maintained with families. Local authorities continued to fund placements in full regardless of whether pupils were attending, however, additional expenditure was incurred on cleaning and enhanced hygiene and PPE requirements, and the need for additional space to allow the school to operate in socially distanced bubbles. The majority of these costs have been recouped from funds made available by the government and fundraising. The Trustees wish to thank all CABAS® staff for their professionalism and commitment in continuing to provide a high-quality service throughout the pandemic whilst complying with the ever-changing guidance, ensuring that both staff and parents received regular communications. It has not been necessary to furlough any staff. Our teaching staff continued to progress through the professional development programme, with 9 members of staff completing the CABAS® Teaching Assistant rank, 4 members of staff completing the CABAS® Teacher 1 rank, 2 members of staff completing the CABAS® Teacher II rank and 1 member of staff completing the CABAS® Master Teacher rank from the CABAS® Board during the year. Eight members of staff have continued to work on the 2-year part-time Masters programme with Nicholls State University and of these, six successfully completed the Masters programme at the end of the academic year. In addition, two members of staff started working on a 2-year part-time Masters programme with Queen’s University Belfast. Members of staff produced a number of research studies during the year which were presented at the virtual Jigsaw Research conference for staff. Staff also presented a number of workshops for teaching other professionals staff about the ABA teaching approach prior to the restrictions imposed by the pandemic. The School has continued to benefit from the close links maintained with CABAS® in the United States. Dr Grant Gautreaux from Nicholls State University provided invaluable consultancy services during the year ensuring that the teaching staff are at the forefront of developments in the field of ABA research. Page 5 **THE JIGSAW TRUST (A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** We have maintained our BACB accreditation as an ACE provider, thereby enabling the school to provide continuous training for BACB registered behaviour analysts. We have hosted events at the school for representatives from the UK SBA ABA in Schools SIG and these sessions have included training for BACB registered behaviour analysts. The School continues to support parents and carers with the outreach service that is available to pupils and their families. We have regular information sessions for parents offering time for questions as well as regular workshops/education sessions for parents and other professionals, albeit these activities have been somewhat curtailed in the current year by the pandemic. The School has continued to foster links with the community and pupils made regular trips into the local community up until the lockdown was announced in March 2020 as part of the broad, balanced and stimulating curriculum that is both relevant, appropriate and develops life skills. Facilities that have been used over the past year have been many and varied. They include trips to Winkworth Arboretum, Riding for the Disabled at Casi’s Farm, swimming at Cranleigh Leisure Centre, Sayers Croft outdoor learning centre and Alice Holt cycle track. ## **Fundraising activities** With the ever growing pressure on local services, uncertainty regarding the political and economic environment, it’s fair to say that the need for fundraising at Jigsaw Trust is increasing year on year. This year has been a particularly challenging year in terms of fundraising activities, with a number of planned events having to be cancelled due to the coronavirus pandemic and the restrictions this has imposed on all our lives. As a result, the focus for the fundraising team for the second half of the financial year was very much on seeking to secure grant funding, particularly available grants to assist with the additional costs of providing a Covid - 19 secure environment for our learners. Jigsaw Trust has remained committed to building and maintaining long term relationships with a variety of supporters and funders and this has continued throughout the pandemic through the regular Jigsaw Trust enewsletter. The assistance of our supporters and funders is vital to the future of the charity and their support has a direct impact on the pupils and adult learners who use services of The Jigsaw Trust. The overall strategy of the Fundraising Team remains to seek to diversify fundraising income, significantly increase core income and build a strategic framework that will enable Jigsaw Trust’s fundraising activities to alleviate financial pressure across the Trust. ## **We would like to thank the following organisations and supporters for their help and kindness throughout the year:** Signify, Rotary Club of Cranleigh, The Arts Society Surrey Hills, Billingshurst Lions, Skipton Building Society, Waitrose, Tesco, The Mulberry Trust, National Lottery Community Fund, Rotary Club of Reigate, Community Foundation of Surrey, Shanly Foundation, The Edward Gostling Foundation, St. Faiths Trust, The Ardwick Trust, Ripley Court School, The Richard Onslow, BP Alfold, Charterhouse School, Manns of Cranleigh, Gymnastics Factory, Insurance Institute of Guildford and The Hobson Charity. We would also like to thank everyone who has supported Jigsaw Trust in during the 2019-20 financial year. Whether you have taken on a half marathon for Jigsaw Trust, you are making a regular monthly donation, you have helped us build links with a company or local school, we are incredibly grateful to you. Jigsaw Trust is fortunate to have such an amazing supportive community around us and we are incredibly grateful to all our benefactors, parents, family members, volunteers, staff, funders and our wonderful local community. |Total raised for the trust
Made up of Unrestricted income
Restricted income
Total raised before donations
Unrestricted donations
Total raised for the trust|£102,902| |---|---| ||£74,022
£28,880| ||£102,902
£6,519| ||£109,421| Page 6 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** |**Significant supporters of the Trust include:**|| |---|---| |National Lottery Community Fund|£47,331| |Community Foundation of Surrey|£15,268| |The Edward Gostling Foundation|£8,000| |Signify|£6,000| Jigsaw Trust is very grateful to all those listed above and all those individuals who have supported Jigsaw Trust either directly through cash donations or gifts in kind or indirectly by taking part in the fundraising activities that were possible in the first part of the financial year. ## **FINANCIAL REVIEW** ## **Reserves policy** The Trustees have agreed that the charitable company should maintain unrestricted funds, which are the free reserves of the charitable company at a level equivalent to cover approximately three months running costs of The Jigsaw CABAS® School. For the financial year 2019/20 three months running costs are estimated at £1,116,000 and the total free reserves as at 31 August 2020 were £794,248. Although reserves as at 31st August 2020 do not meet the desired level, the Trustees are committed to the reserves policy. The Trustees will continue to consider ways in which additional unrestricted funds can be raised and to target fundraising of unrestricted income. ## **Equal Opportunities polic** y The Trustees recognise that equal opportunities should be an integral part of good practice within the workplace. Jigsaw Trust aims to establish equal opportunities in all areas of its activities including creating a working environment in which the contributions and needs of all people are fully valued. Selected policies can be found on the Jigsaw CABAS® School and The Jigsaw Trust websites. ## **Financial Results** The financial results for the year to 31 August 2020 are shown in the attached financial statements. The greater part of the Trust's income (98%) is generated by the School which received the majority of its income from Local Authorities. Total income increased by 6.9% to £4,553,038 (2019 - £4,257,040), primarily due to increase in pupil numbers. There was a small increase in fundraising income in the Trust as focus on obtaining funds for the Jigsaw + Horticultural Centre project was increased. School fee income increased by 7.6% to £4,351,321 (2019 - £4,042,177). Due to Covid -19 there was a reduction in the Café income partly as a result of total closure due to lockdown, thereafter a reduced takeaway service only. Total expenditure rose by 9.4% to £4,465,573 (2019 - £4,079,911), in line with the increase in pupil numbers and Covid -19 related costs. The average number of pupils throughout the year was 67. The school started the academic year with 66 students, but numbers increased to the position where there were 68 pupils on roll at the year end. There was a net increase in funds of £87,465 (2019 - £177,130) total funds carried forward of £832,106 (2019 - £744,642). Of the funds at the year end, £37,858 was restricted and the remaining £794,248 unrestricted. Page 7 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** ## **INDEPENDENT ASSURANCE** Raffingers LLP have undertaken the statutory external audit of The Jigsaw Trust and its subsidiary Jigsaw Trading (2013) Limited. They also report on the adequacy and effectiveness of The Jigsaw Trust’s system of internal financial control through, if considered necessary, the qualification of the annual financial accounts, the “management letter” and ad hoc assessments and reviews. ## **GOING CONCERN** After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements for the year ended 31 August 2020. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **MATERIAL INVESTMENTS POLICY** No investments have been made at this this time. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **CONSTITUTION** The charity is controlled by its governing document, a deed of trust, and is constituted as a limited company, limited by guarantee, as defined by the Companies Act 2006. The Jigsaw Trust was incorporated on 17 March 1999. In the event of the company being wound up during the period of membership or within the year following, the company members are required to contribute an amount not exceeding £1. The company is registered under the Companies Act, England and Wales (Company Registration Number 03734127) and with the Charity Commission (Charity Registration Number 1075464) and is governed by its memorandum and articles of association. The Jigsaw Trust has one subsidiary which is wholly owned, Jigsaw Trading (2013) Limited. Jigsaw Trading (2013) Limited is constituted as a company limited by shares and was incorporated on 2 July 2013. The company is registered under the Companies Act, England and Wales (Company Registration Number 08594365). As a wholly owned subsidiary the financial statements of Jigsaw Trading (2013) Limited are incorporated within the consolidated accounts of The Jigsaw Trust. The CEO of The Jigsaw Trust is the sole director of Jigsaw Trading (2013) Limited. Page 8 **THE JIGSAW TRUST (A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** The Jigsaw Trust is the sole member of Jigsaw +. Jigsaw + is constituted as a company limited by guarantee and was incorporated on 1 November 2012. The company is registered under the Companies Act, England and Wales (Company Registration Number 08278978) and with the Charity Commission (Charity Registration Number 1151727) and is governed by its memorandum and articles of association. It is the policy of the Board of Trustees of The Jigsaw Trust that a majority of the Trustees of Jigsaw + should be independent. As at the date of this report, this is not the case but the current Board of Trustees of Jigsaw + is actively looking to recruit additional independent Trustees. The financial statements of Jigsaw + are reported separately and do not form part of the consolidated accounts of The Jigsaw Trust. The Jigsaw CABAS® School Governors have responsibility for the oversight of the operation of the school including policies, staffing and use of resources. They enable the school to run as effectively as possible and monitor and evaluate performance, working with the CEO, the Director of Education and members of the school senior management team to support and challenge them in maintaining the effectiveness of the school. They ensure the school is accountable to all stakeholders. Mr A M C Jewsbury (Chair) Mrs S A Hayes (Vice-Chair) Mrs J A Kiely Dr J A Russell Mrs H Kay Mr A J Dalton Mrs L E Craven Mrs A H J Matthews Ms C F Grant (ex-officio, CEO) Ms E L Hawkins (ex-officio, Director of Education) Mrs P R da Silva School Governors work in monitoring groups focussing on the four areas of the Ofsted Framework: Outcomes for Pupils; Pupil's Personal Development, Behaviour and Welfare; Quality of Teaching, Learning and Assessment; Leadership and Management. ## **Recruitment and appointment of new trustees** The trustees are directors of the charitable company for the purposes of company law and trustees for the purpose of charity law. The above trustees were in office at 31 August 2019 and served throughout the year unless otherwise indicated. The Articles of Association stipulate that there must be a minimum of three trustees and a maximum of thirty trustees. All trustees must be members of the charitable company. Additional trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election. One third of the trustees are to retire by rotation at each Annual General Meeting. It is the policy of the Board of Trustees that the number of parent trustees (those who have children or young adults placed at the School or accessing Jigsaw +) shall be in the minority. ## **Induction and training of new trustees** Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally, individual trustees may undertake external training in a particular area of their role on the Board of Trustees or where relevant, the Governing Body of The Jigsaw CABAS® School. Page 9 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** ## **Organisational structure** The principal activity of the charity during the year has been to promote, maintain, improve and advance the education and well being of those affected by an autism spectrum disorder. Overall responsibility for Jigsaw Trust lies with the Trustees, a number of whom are members of the Governing Body of the Jigsaw CABAS® School and/or on the Board of Trustees for Jigsaw +. The Trustees fulfil a strategic role setting the vision, mission, goals and direction, general policy, approving annual budgets monitoring performance against the plan and budget. Each of the Trustees are responsible for the oversight of one or more business areas acting as the link between the senior management of that area and the Board of Trustees. These cover: Finance Human Resources IT Facilities and Health and Safety Business Assurance and Quality Business Development and Marketing Fundraising and PR School Adult Services Social Enterprise Trustees are assigned to an oversight role based on their individual skills and areas of expertise and are responsible for liaising with the relevant senior management and management staff within the Trust and reporting progress and any significant issues at each Trustee meeting. The Board of Trustees has reviewed and approved those matters reserved to the Board and established two Committees to facilitate monitoring and reporting to the Board: the Finance, Audit and Risk Committee and the HR and Operations Committee. In addition, a Remuneration Committee will consider matters relating to pay and performance. All three Committees have agreed terms of reference and the first meetings were held in January 2021. The Board is responsible for agreeing the membership of these Committees, which is based on individual skills and areas of expertise. The Board of Jigsaw Trust meet four times a year or more frequently if required. The Governing Body of the Jigsaw CABAS® School also meet four times a year. A minority of the Trustees have children or young adults who have been placed as pupils at the School or who are clients at Jigsaw +. Management responsibility for day to day operations for all services of The Jigsaw Trust are delegated by the Trustees to the CEO of The Jigsaw Trust, and in respect of Jigsaw CABAS® School to the Governors, who in turn delegate responsibility for the day to day operation of the school to the Director of Education of Jigsaw CABAS® School. The Trust employed 123 people as at 31 August 2020. 98 at Jigsaw CABAS® School (P/T 15) 3 at Jigsaw Trading (P/T 0) 22 at Jigsaw Trust Shared Services (P/T 3) Full time 105 and part time 18 Page 10 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** Jigsaw Trust does not discriminate unlawfully against learners, staff, trustees or governors on the grounds of sexual orientation, race, disability, gender, religion and belief, or age. Jigsaw Trust has a written policy regarding race, disability and gender equality, arrangements to monitor its implementation and assess its impact on staff, learners and parents/carers. Jigsaw Trust complies with its general duties under the Sex Discrimination Act 1975 (as amended) and specific duties in subordinate legislation made under those Acts and the requirements of the statutory codes of practice made under those Acts. Selection criteria and procedures are regularly reviewed to ensure that individuals are recruited, promoted and treated on the basis of their relevant merits and abilities. Objective criteria are applied to assess merit and all staff follow behaviour analytic training programmes to enable them to progress both within and outside the organisation. These training programmes provide certification from the CABAS® Board based at Columbia University Teachers College, or the Behaviour Analysis Certification Board (BACB). Staff are given equal opportunity to undertake further external training where appropriate. ## **RELATED PARTIES** None of the Trustees received any renumeration or reimbursement of any expenses resulting from their position as a Trustee during the financial year. Save as disclosed in this report as regards Parent Trustees and Trustees of the Jigsaw Trust who are also Trustees of Jigsaw + no Trustee had any beneficial interest in any contract with the charitable company during the year. Save as disclosed in Note 21 to the Financial Statements there were no related party transactions during the financial year. ## **RISK MANAGEMENT** The Trustees have assessed the major risks to which the company and the wider group is exposed, in particular those related to the operations and finances of the company and the group and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks identified. The Trustees recognise the absolute necessity of ensuring the protection and safety of the pupils at Jigsaw CABAS® School and require that all employees and volunteers are subject to an enhanced disclosure issued by the Disclosure and Barring Service (DBS) and receive training regarding safeguarding both on commencing employment and at least annually thereafter. ## **SIGNIFICANT POST FINANCIAL STATEMENTS EVENTS** The Jigsaw CABAS® School has continued to remain open during the third Covid - 19 lockdown announced in December 2020 and to follow all guidance issued by the Department for Education; this has included the establishment of a lateral flow testing facility for all school staff. Trust Shared Services has been subject to a re-organisation to better support the Trust’s strategic aspiration; this included the creation of the position of Director of People, an Executive level role. Page 11 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020** ## **TRUSTEES' RESPONSIBILITIES STATEMENT** The Trustees (who are also directors of The Jigsaw Trust 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). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **DISCLOSURE OF INFORMATION TO AUDITORS** Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that: - so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and - that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. This report was approved by the Trustees, on and signed on their behalf by: ................................................ **Mr G Prothero, Vice Chair** Page 12 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JIGSAW TRUST** ## **OPINION** We have audited the financial statements of The Jigsaw Trust (the 'parent charity') and its subsidiaries (the 'group') for the year ended August 31, 2020 set out on pages 16 to 34. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent charitable company's affairs as at August 31, 2020 and of the group's 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; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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** We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's or the parent charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. ## **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 Auditors' report thereon. Our opinion on the financial statements does not cover the other information and 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are Page 13 **THE JIGSAW TRUST** **(A company limited by guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JIGSAW TRUST** required to report that fact. We have nothing to report in this regard. ## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or - the parent charitable company has not kept sufficient accounting records; or - the parent charitable company financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **RESPONSIBILITIES OF TRUSTEES** As explained more fully in the Trustees' responsibilities statement, 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 group's and the parent 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 an Auditors' report 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. 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 Auditors' report. ## **USE OF OUR REPORT** This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 Page 14 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JIGSAW TRUST** other than the charitable company and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. ## **Mr Suda Ratnam FCCA (Senior Statutory Auditor) for and on behalf of Raffingers LLP** Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD Date: Raffingers LLP is eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 15 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020** |**Unrestricted**
**funds**
**Note**
**2020**
**£**
**INCOME FROM:**
Donations and legacies
2
**6,519**
Charitable activities
3
**4,351,321**
Other trading activities:
Fundraising
4
**74,022**
Trading activities
**90,900**
Investments
**1,396**
**TOTAL INCOME**
**4,524,158**
**EXPENDITURE ON:**
Raising funds
**224,917**
Charitable activities:
Direct costs
5
**4,142,162**
Governance costs
6
**98,494**
**TOTAL EXPENDITURE**
**4,465,573**
**NET INCOME BEFORE OTHER**
**RECOGNISED GAINS AND LOSSES**
**58,585**
**NET MOVEMENT IN FUNDS**
**58,585**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**735,663**
**TOTAL FUNDS CARRIED FORWARD**
**794,248**|**Restricted**
**funds**
**2020**
**£**
**-**
**-**
**28,880**
**-**
**-**
**28,880**
**-**
**-**
**-**
**-**
**28,880**
**28,880**
**8,978**
**37,858**|**Total**
**funds**
**2020**
**£**
**6,519**
**4,351,321**
**102,902**
**90,900**
**1,396**
**4,553,038**
**224,917**
**4,142,162**
**98,494**
**4,465,573**
**87,465**
**87,465**
**744,641**
**832,106**|_Total_
_funds_
_2019_
_£_
_2,242_
_4,042,177_
_89,632_
_122,347_
_642_| |---|---|---|---| ||||_4,257,040_| ||||_229,610_
_3,765,350_
_84,951_| ||||_4,079,911_| ||||_177,129_
_177,129_
_567,512_| ||||_744,641_| The notes on pages 20 to 34 form part of these financial statements. Page 16 ## **THE JIGSAW TRUST (A company limited by guarantee) REGISTERED NUMBER: 03734127** ## **CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2020** |**Note**
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors
12
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
13
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Restricted funds
14
Unrestricted funds
14
**TOTAL FUNDS**|**£**
**3,869**
**1,305,577**
**947,217**
**2,256,663**
**(1,678,155)**|**2020**
**£**
**253,598**
**578,508**
**832,106**
**37,858**
**794,248**
**832,106**|_£_
_2,211_
_1,410,137_
_723,873_
_2,136,221_
_(1,511,003)_|_2019_
_£_
_119,423_
_625,218_| |---|---|---|---|---| |||||_744,641_| |||||_8,978_
_735,663_| |||||_744,641_| The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on signed on their behalf, by: and ................................................ ## **Mr G Prothero, Vice Chair** The notes on pages 20 to 34 form part of these financial statements. Page 17 ## **THE JIGSAW TRUST (A company limited by guarantee) REGISTERED NUMBER: 03734127** ## **COMPANY BALANCE SHEET AS AT 31 AUGUST 2020** |**Note**
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors
12
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
13
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Restricted funds
Unrestricted funds
**TOTAL FUNDS**|**£**
**1,973**
**1,517,072**
**935,087**
**2,454,132**
**(1,656,760)**|**2020**
**£**
**253,598**
**797,372**
**1,050,970**
**37,858**
**1,013,112**
**1,050,970**|_£_
_-_
_1,581,382_
_720,422_
_2,301,804_
_(1,485,960)_|_2019_
_£_
_118,531_
_815,844_| |---|---|---|---|---| |||||_934,375_| |||||_8,978_
_925,397_| |||||_934,375_| The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on signed on their behalf, by: and ................................................ Mr G Prothero, Vice Chair The notes on pages 20 to 34 form part of these financial statements. Page 18 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020** |**Note**
**Cash flows from operating activities**
Net cash provided by operating activities
15
**Cash flows from investing activities:**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**
16
The notes on pages 20 to 34 form part of these financial statements.|**2020**
**£**
**496,919**
**(273,573)**
**(273,573)**
**223,346**
**723,871**
**947,217**|_2019_
_£_
_451,659_
_(96,703)_
_(96,703)_
_354,956_
_368,915_
_723,871_| |---|---|---| Page 19 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Jigsaw Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Statement of financial activities (SOFA) and Balance sheet consolidate the financial statements of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. No separate SOFA has been presented for the company alone as permitted by section 408 of the Companies Act 2006. ## **1.2 Company status** The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.3 Going concern** The trustees have assessed whether the use of the going concern assumption is appropriate in preparing the accounts for the year ended 31 August 2020. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed in note 1.17. In arriving at the conclusion, the trustees have considered the potential implications of Brexit and the effects of Covid - 19 on the charity. The trustees have the discussed the effects of Brexit on the availability of personnel and have concluded that there are adequate resources locally. The figures for the period under consideration have not been siginificantly impacted by Covid - 19 and the trustees are confident that no adjustments are necessary to the carrying value of the assets held at the balance sheet date. Page 20 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.4 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 21 **THE JIGSAW TRUST** **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. ## **1.6 Basis of consolidation** The financial statements consolidate the accounts of The Jigsaw Trust and all of its subsidiary undertakings ('subsidiaries'). The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and expenditure account. The income and expenditure account for the year dealt with in the accounts of the company was £116,592 _(2019 - £208,556)_ . Page 22 **THE JIGSAW TRUST** **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.7 Tangible fixed assets and depreciation** All assets costing more than £1,000 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |Improvement to property|-|25% on cost| |---|---|---| |Plant and machinery|-|25% on cost| |Motor vehicles|-|20% on cost| |Fixtures and fittings|-|33% on cost| |School equipment|-|33% on cost| ## **1.8 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. ## **1.9 Operating leases** Rentals under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term. ## **1.10 Stocks** Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. ## **1.11 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.12 Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 23 **THE JIGSAW TRUST** **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.13 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. ## **1.14 Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.15 Pensions** The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. ## **1.16 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.17 Critical accounting estimates and areas of judgment** Preparation of the accounts requires the trustees and management to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include: determining the allocation of costs between different expenditure classifications; and estimating the useful economic life of tangible fixed assets for the purposes of determining the annual depreciation charge. Page 24 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **2. INCOME FROM DONATIONS AND LEGACY** |**INCOME FROM DONATIONS AND LEGACY**|||| |---|---|---|---| |**Unrestricted**
**funds**
**2020**
**£**
Donations
**6,519**
_Total 2019_
_2,242_|**Restricted**
**funds**
**2020**
**£**
**-**
_-_|**Total**
**funds**
**2020**
**£**
**6,519**
_2,242_|_Total_
_funds_
_2019_
_£_
_2,242_| ||||| ## **3. INCOME FROM CHARITABLE ACTIVITIES** |**Unrestricted**
**funds**
**2020**
**£**
Fees receivable
**4,351,321**
_Total 2019_
_4,042,177_
**FUNDRAISING INCOME**
**Unrestricted**
**funds**
**2020**
**£**
Fundraising events
**74,022**
_Total 2019_
_89,632_|**Restricted**
**funds**
**2020**
**£**
**-**
_-_
**Restricted**
**funds**
**2020**
**£**
**28,880**
_-_|**Total**
**funds**
**2020**
**£**
**4,351,321**
_4,042,177_
**Total**
**funds**
**2020**
**£**
**102,902**
_89,632_|_Total_
_funds_
_2019_
_£_
_4,042,177_| |---|---|---|---| ||||_Total_
_funds_
_2019_
_£_
_89,632_| ||||| ## **4. FUNDRAISING INCOME** Page 25 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **5. DIRECT COSTS** |Other operating leases
Insurance
Light and heat
Postage and stationery
Sundries
Recruitment costs
Materials and activities
Consultant fees and expenses
Repairs and small equipment
Conventions and exhibitions
Training costs
Depreciation of tangible fixed assets
Wages and salaries
National insurance
Pension cost

_Total 2019_
|**Education**
**and**
**outreach**
**support**
**£**
**214,953**
**21,073**
**32,275**
**50,352**
**99,302**
**73,766**
**206,829**
**166,843**
**127,082**
**5,159**
**119,405**
**138,504**
**2,609,515**
**220,767**
**56,337**
**4,142,162**

_3,765,350_
|**Total**
**2020**
**£**
**214,953**
**21,073**
**32,275**
**50,352**
**99,302**
**73,766**
**206,829**
**166,843**
**127,082**
**5,159**
**119,405**
**138,504**
**2,609,515**
**220,767**
**56,337**
**4,142,162**

_3,765,350_|_Total_
_2019_
_£_
_216,109_
_31,906_
_29,220_
_46,515_
_80,412_
_111,122_
_186,282_
_184,471_
_113,539_
_10,485_
_104,256_
_70,379_
_2,341,131_
_196,343_
_43,180_
_3,765,350_| |---|---|---|---| ||||| ## **6. SUPPORT COSTS** |**Governance**
**£**
Auditor's remuneration
**9,000**
Auditor's non audit costs
**12,520**
Postage and stationery
**5,518**
Bank charges
**283**
Legal fees
**-**
Wages and salaries
**61,684**
National insurance
**6,297**
Pension cost
**3,192**
**98,494**
_Total 2019_
_84,951_|**Total**
**2020**
**£**
**9,000**
**12,520**
**5,518**
**283**
**-**
**61,684**
**6,297**
**3,192**
**98,494**
_84,951_|_Total_
_2019_
_£_
_7,200_
_7,724_
_5,822_
_406_
_3,181_
_54,068_
_4,672_
_1,878_
_84,951_| |---|---|---| |||| Page 26 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **6. SUPPORT COSTS (continued)** During the year ended August 31, 2020, the company incurred the following Governance costs: _£_ NIL _(2019 - £NIL)_ included within the table above in respect of Direct costs. _£_ NIL _(2019 - £NIL)_ included within the table above in respect of Raising funds. ## **7. NET INCOME/(EXPENDITURE)** This is stated after charging: ||**2020**|_2019_| |---|---|---| ||**£**|_£_| |Depreciation of tangible fixed assets:||| |- owned by the charitable group|**139,398**|_70,478_| During the year, no Trustees received any remuneration (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL). During the year, no Trustees received any reimbursement of expenses (2019 - £NIL). ## **8. AUDITORS' REMUNERATION** The Auditor's remuneration amounts to an Audit fee of £9,000 (2019 - £7,200), and fees for payroll services and the preparation of the accounts of the trading subsidiary of £12,520 (2019 - £7,724). Page 27 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **9. STAFF COSTS** |**STAFF COSTS**|| |---|---| |Staff costs were as follows:
**2020**
**£**
Wages and salaries
**2,745,930**
Social security costs
**235,031**
Other pension costs
**59,529**
**3,040,490**
The average number of persons employed by the company during the year was as follows:
**2020**
**No.**
Charitable
**131**
The number of higher paid employees was:
**2020**
**No.**
In the band £100,001 - £110,000
**1**
In the band £110,001 - £120,000
**1**|_2019_
_£_
_2,458,433_
_207,633_
_45,058_| ||_2,711,124_| ||
_2019_
_No._
_118_
_2019_
_No._
_1_
_1_| ## **10. TANGIBLE FIXED ASSETS** |**Group**
**Cost**
At September 1, 2019
Additions
At August 31, 2020
**Depreciation**
At September 1, 2019
Charge for the year
At August 31, 2020
**Net book value**
At August 31, 2020
_At August 31, 2019_|**Improve**
**ment to**
**property**
**£**
**529,197**
**49,439**
**578,636**
**501,088**
**30,636**
**531,724**
**46,912**
_28,109_|**Plant and**
**machinery**
**£**
**-**
**72,360**
**72,360**
**-**
**18,090**
**18,090**
**54,270**
_-_|**Motor**
**vehicles**
**£**
**149,930**
**-**
**149,930**
**117,453**
**25,755**
**143,208**
**6,722**
_32,477_|**Fixtures and**
**fittings**
**£**
**253,419**
**41,176**
**294,595**
**223,531**
**26,387**
**249,918**
**44,677**
_29,888_|**School**
**equipment**
**£**
**304,519**
**110,598**| |---|---|---|---|---|---| ||||||**415,117**| ||||||**275,570**
**38,530**| ||||||**314,100**| ||||||**101,017**| ||||||_28,949_| Page 28 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **10. TANGIBLE FIXED ASSETS (continued)** |**Group**
**Cost**
At September 1, 2019
Additions
At August 31, 2020
**Depreciation**
At September 1, 2019
Charge for the year
At August 31, 2020
**Net book value**
At August 31, 2020
_At August 31, 2019_
**Company**
**Cost**
At September 1, 2019
Additions
At August 31, 2020
**Depreciation**
At September 1, 2019
Charge for the year
At August 31, 2020
**Net book value**
At August 31, 2020
_At August 31, 2019_|**Improvemen**
**t to property**
**£**
**528,206**
**49,439**
**577,645**
**500,989**
**29,744**
**530,733**
**46,912**
_27,217_|**Plant and**
**machinery**
**£**
**-**
**72,360**
**72,360**
**-**
**18,090**
**18,090**
**54,270**
_-_|**Motor**
**vehicles**
**£**
**149,930**
**-**
**149,930**
**117,453**
**25,755**
**143,208**
**6,722**
_32,477_|**Fixtures and**
**fittings**
**£**
**241,291**
**41,176**
**282,467**
**211,403**
**26,387**
**237,790**
**44,677**
_29,888_|**Total**
**£**
**1,237,065**
**273,573**| |---|---|---|---|---|---| ||||||**1,510,638**| ||||||**1,117,642**
**139,398**| ||||||**1,257,040**| ||||||**253,598**| ||||||_119,423_| ||||||**School**
**equipment**
**£**
**304,519**
**110,598**| ||||||**415,117**| ||||||**275,570**
**38,530**| ||||||**314,100**| ||||||**101,017**| ||||||_28,949_| Page 29 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** |**Company**
**Cost**
At September 1, 2019
Additions
At August 31, 2020
**Depreciation**
At September 1, 2019
Charge for the year
At August 31, 2020
**Net book value**
At August 31, 2020
_At August 31, 2019_|**Total**
**£**
**1,223,946**
**273,573**| |---|---| ||**1,497,519**| ||**1,105,415**
**138,506**| ||**1,243,921**| ||**253,598**| ||_118,531_| ## **11. STOCKS** |Raw materials|**Group**
**Company**
**2020**
_2019_
**2020**
_2019_
**£**
_£_
**£**
_£_
**3,869**
_2,211_
**1,973**
_-_| |---|---| ## **12. DEBTORS** |**DEBTORS**||||| |---|---|---|---|---| |Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income||**Group**
_2019_
_£_
_942,676_
_-_
_434,563_
_32,898_
_1,410,137_|**2020**
**£**
**1,062,322**
**216,181**
**195,822**
**42,747**
**1,517,072**|**Company**| ||**2020**
**£**
**1,062,893**
**-**
**199,938**
**42,746**
**1,305,577**|||_2019_
_£_
_939,634_
_175,793_
_434,564_
_31,391_| |||||_1,581,382_| Page 30 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **13. CREDITORS: Amounts falling due within one year** |Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2020**
**£**
**74,508**
**59,185**
**73,579**
**1,470,883**
**1,678,155**|**Group**
_2019_
_£_
_39,167_
_64,530_
_84,510_
_1,322,796_
_1,511,003_|**2020**
**£**
**62,636**
**56,790**
**73,276**
**1,464,058**
**1,656,760**|**Company**| |---|---|---|---|---| |||||_2019_
_£_
_33,859_
_59,371_
_74,934_
_1,317,796_| |||||_1,485,960_| Page 31 **(A company limited by guarantee)** ## **THE JIGSAW TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **14. STATEMENT OF FUNDS** ## **STATEMENT OF FUNDS - CURRENT YEAR** |**Unrestricted funds**
Reserves
**Restricted funds**
Restricted Funds
Total of funds
Restricted fund
Restricted
fund
consists
of
funds
**STATEMENT OF FUNDS - PRIOR YEAR**
**General funds**
Reserves
**Restricted funds**
Restricted Funds|**Balance at**
**September**
**1, 2019**
**Income Expenditure**
**Balance at**
**August 31,**
**2020**
**£**
**£**
**£**
**£**
**735,663**
**4,524,158**
**(4,465,573)**
**794,248**
**8,978**
**28,880**
**-**
**37,858**
**744,641**
**4,553,038**
**(4,465,573)**
**832,106**
for
improvement
of
the
arts
room.
_Balance at_
_September_
_1, 2018_
_Income_
_Expenditure_
_Balance at_
_August 31,_
_2019_
_£_
_£_
_£_
_£_
_558,534_
_4,257,041_
_(4,079,911)_
_735,664_
_8,978_
_-_
_-_
_8,978_| |---|---| Page 32 **THE JIGSAW TRUST** **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **15. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES** |Net income for the year (as per Statement of Financial Activities)
**Adjustment for:**
Depreciation charges
Increase in stocks
Decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by operating activities**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash in hand
Cash at bank
Total|**2020**
**£**
**87,465**
**139,398**
**(1,658)**
**104,564**
**167,150**
**496,919**
**2020**
**£**
**-**
**947,217**
**947,217**|**Group**
_2019_
_£_
_177,129_
_70,478_
_(54)_
_206,193_
_(2,087)_
_451,659_
**Group**
_2019_
_£_
_34,595_
_689,276_
_723,871_| |---|---|---| ## **16. ANALYSIS OF CASH AND CASH EQUIVALENTS** ## **17. CONTINGENT LIABILITIES** There were no contingent liabilities at the end of the financial year. ## **18. CAPITAL COMMITMENTS** The company had no capital commitments as at the current and previous balance sheet date. ## **19. PENSION COMMITMENTS** ## **The Pensions’ Trust** This is a defined contribution pension scheme and contributions paid by the Charity amounted to £59,529 (2019 – £45,058). Page 33 ## **THE JIGSAW TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** ## **20. OPERATING LEASE COMMITMENTS** At August 31, 2020 the total of the group’s future minimum lease payments under non-cancellable operating leases was: ||**2020**|_2019_| |---|---|---| |**Group**|**£**|_£_| |**Amounts payable:**||| |Between 1 and 5 years|**570,709**|_784,725_| ## **21. RELATED PARTY TRANSACTIONS** At the balance sheet date, the group was owed £159,294 (2019: £347,440) by Jigsaw +, a sister charity. Jigsaw Trust is the sole member of Jigsaw +. Page 34