2022-02-28-accounts - The Jasmine Trust

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REPORT OF THE TRUSTEES

The Trustees/Management Committee presents their report and unaudited financial statements for the year ended 28[th] February 2022, representing the period 1[st] March 2021 to 28[th] February 2022

Reference and administrative information

Charity Name: The Jasmine Trust (JT) Charity registration number: 1095612 Company registration number: 3932262 Registered office and operational address: Babworth Court, Babworth, Retford Notts DN22 8EW

Trustees/Directors:

Susan Hughes Ann Ogley Susan Keeton

Employees:

Centre Education Manager (CEM) Carolyn Clarke Centre Operations Manager (COM) Dave Clarke Administration Assistant Julie Robinson

Accountant:

Bankers:

PS Accountancy Ferndene, Big Lane, Clarborough, Retford, Nottinghamshire, DN22 9lT TSB Bank, Retford, Notts

Objectives of the charity

To advance public education in the classical teaching of yoga science and to maintain and improve the standards of teaching yoga.

To promote and advance for the public benefit, the study and practice of and the research into, the therapeutic effects of yoga as a means of improving the mental and spiritual health of the community, and to publish the useful results of any research.

In setting our objectives and planning for future activities the Trustees have had regard to the commissioner's general guidance on public benefit.

The Trust has endeavoured to achieve its objectives by the following means:

Policies

The Trust continues to manage itself within the framework of its policies, all of which are reviewed annually. Additions are created when required. The Trust employs three people: Centre Education Manager, Centre Operations Manager and an Administration Assistant.

Staff appraisals have been carried out. Salaries are reviewed annually. The CEM and COM are enrolled in NEST.

Trustees and Volunteers

There were three trustees at the start of the period.

The Trust continues to enjoy the support of volunteers – this has been minimal since the Yoga Centre has continued with semi closures over the year due to Covid. Trustees have been contributing to meetings, developing policies and emotionally supporting staff members.

COVID

As with the 2020 – 21 financial year, the working business has been challenged throughout the year due to the Covid epidemic which effectively minimised class attendance for a large part of the year. Government national and local restrictions continued to apply to all yoga businesses. However, a Government Grant brought about helpful contribution to funds to help the business stay solvent during this time.

All three members of staff were put on full or flexible furlough for part of the year. Businesses were legally bound to pay all salaries up to 80%. Jasmine Trust have paid all salaries at 100%.

All staff were given a 4% pay rise and bonus in appreciation for their service over this difficult time.

The Centre Operations Manager (COM) reinstated the use of Babworth Court which initiated increases in general costs such as heating and lighting. The Centre Education Manager (CEM) opened up face to face classes to encourage in house participation. Zoom classes were minimised to enable the building to come back into use.

Business activity

CEM and Administrative Assistant (AA) have enabled students to access the booking system and kept classes running smoothly throughout the year.

When Covid restrictions were lifted, CEM and one other teacher offered well managed and tightly risk assessed classes to small groups. CEM continued for a short while with ‘hybrid’ classes where Zoom teaching took place within face-to-face classes. This allowed some students to attend Babworth Court whilst others practised in their own home. This was phased out as more students returned to the studio.

Other International tutors made choices as to whether to come back to the Studio (Peter Blackaby) whilst others continued to stay with electronic delivery (John Stirk, Monica Voss). Studio attendances were good, whilst Zoom began to take a back seat and had less attendees.

Specific training courses include:

BWYQ Teacher Training 2019 - 2021 commenced January 2019 and completed January 2022.

CEM continues as Lead IQA for the UK governing body BWY. This has been useful in quality assuring our own courses and class delivery.

The Facilities (including the Court and grounds and the Cottage and small studio.)

The hiring out of the small studio at The Cottage has continued throughout the financial year – the revenue from this has been helpful and more constant than last financial year.

Marketing

This is always an ongoing programme within the Trust. The web site and email contacts continue to bring in custom. Social media coverage is maintained by AA and continues to improve, providing a good advertising portal. There has been no external paper advertising or visits to any other organisation due to the ongoing impact of the pandemic.

Funding

The Period saw contributions of £17,000 from Whitaker Charitable Trust for general use within the Trust.

As this financial year ends, Jasmine Trust is working to maintain classes and events – the view is that Covid is still a threat to health locally and nationally and future plans may well be impacted by the length of time this continues.

Future Plans –

Return to a full programme of events and classes steadily to encourage and enable more students from a wider spectrum of attendees to come to the Centre.
The following were in place last year, but we were unable to implement them due to Covid restrictions:
At an appropriate time, create a paper-based advertising campaign to tie into an Open day we will offer at Babworth Court. We want to expand our classes, when possible, plus take the opportunity to look at broadening our provision.
We will also look to offer a ‘Long Covid’ class for those who are impacted and continue to suffer ill health.
Create a BWY Foundation Course – this will lead to future teacher training as well as expansion of yoga skills for those who attend.
Create a new BWY Teacher Training course from September 2022
Develop a programme of seminars, workshops and specialist classes using JT staff's expertise, finding niche teacher training markets that will benefit from such courses.
Reconnect to past providers with a view to enticing them back to Jasmine Trust.

Reserves Policy

Reserves are held in the Current, Project Savings and Buy a Brick accounts.

Risk Review

Major risks to which JT may be exposed are reviewed on a regular basis by the Management Committee and systems are in place to mitigate those risks.

The most significant risk will continue to be Covid pandemic. This is risk managed constantly by COM & CEM and in line with government guidelines for Yoga Centres published by Sport England.

The second most significant risk could be related to the safe practice of yoga (a physical activity) and JT's policy of ensuring that all members of staff and visiting tutors are either fully qualified or on a recognised training programme is an added safeguard. The safeguard is that once qualified or on a recognised training programme, they are fully and adequately insured.

Results

The net loss generated by the ongoing, ordinary activities of the Trust for this financial year totaled £373.

Income generated from general activities make up around 70% of the income generated in 2021 – 22. Our earning capacity is reduced due to larger events not yet being offered by JT during this current time and the ending of a teacher training programme without the commencement of another at this time. The Trust net resources are expanded by donations from Whitaker Charitable Trust of £17000 and one final government Corona grant and use of the furlough scheme.

Expenditure includes a major rise in Salary costs for the year – attributed to the first pay rise in 3 years, a bonus for all staff and bringing all staff salaries up to 100%, completed in March 21, the last month of the national financial year. The Furlough payment scheme closed in November 2021 returning all salary costs to the company.

The total funds generated for the year were attributed to general reserves which now stand at £37558

Company Law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources for the financial year. In preparing those statements, the Directors should follow best practice and:

Select suitable accounting policies and then apply them consistently.
Make judgements and estimates that are reasonable and prudent.
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on this basis.

The Directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time, the final position of the charitable company and enable them to ensure that the financial statements comply with the Company's Act 2006. The Directors 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.

Members of the charitable company

The Directors of the company for the purpose of company law are Trustees for the purpose of charity law, and those who served during the year and up to the date of this report set out on page one.

Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding The total number of such guarantees at February 2022 was 3.

The Trustees wish to acknowledge the hard work and great effort put in by the CEM, the COM and the AA over another period in the exceptional circumstances prevailing due to Covid. This has enabled the centre to be as viable as possible under extremely challenging times, continuing to meet its objectives wherever possible.

This report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities, and in accordance with the small companies exemptions provided in section 415A of the Company's Act 2006.

Approved on 24[th] October 22 and signed on behalf of the trustees by Susan Hughes

The Jasmine Trust

REPORT OF THE TRUSTESS

The Trustees/Management Committee present their report and unaudited financial statements for the year ended 28th February 2022

Reference and Administrative Information

The Jasmine Trust

Charity name; Charity registration number; 1095612 Company registration number; 3932262 Registered office and operational address;

Babworth Court, Babworth, Retford Nottinghamshire, DN22 8EW

Trustees/Directors

Susan Hughes Susan Keeton

Ann Ogley

Employees

Centre education manager Centre operations manager Administration assistant

Carolyn Clarke Dave Clarke Julie Robinson

Accountant

PS Accountancy & Taxation Services Limited Ferndene, Big Lane, Clarborough Retford, Nottinghamshire, DN22 6YA

Bankers

TSB Bank, Gainsborough Lincolnshire

THE JASMINE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) Year ended 28th February 2022

Year ended 28th February 2022
Notes Incoming resources Voluntary income Donations Brick fund donations Grant income Job Retention Grant Scheme COVID Support grants Activities for generating funds Sale of goods Hire of facilities Bank interest receivable Activities to further the charity's objects Promotion and instruction of physical well-being activities 3 Total incoming resources Resources expended Accountancy Advertising Advertising - website Bank charges Computer storage costs Charitable donations made Depreciation External tutors Garden project Goods for resale Health and safety Household and office supplies Insurance Legal fees Light, heat and water PayPal charges Printing, postage and stationery Registration fees Rent and rates Repairs and maintenance Room hire Salaries 5 Security Staff pensions Teaching supplies Telecommunications Travel and subsistence Net resources (expended)/generated - net (expenditure)/income for the year 4 Total funds at 1 March 2021 13 Total funds at 28 February 2022 12, 13	Unrestricted Funds £ 17,000 - 11,942 9,476 - 4,465 318 53,659	Restricted Funds £ -	Total Funds 2022 £ 17,000 - 11,942 9,476 - 4,465 318 53,659 96,859 960 348 419 184 160 45 336 14,801 556 - 27 825 2,344 13 2,905 554 115 86 17,741 3,017 175 51,135 280 1,238 - 1,048 258	Total Funds 2021 £ 18,534 - 16,247 28,814 75 2,085 210 60,621
	96,859 960 348 419 184 160 45 336 14,801 556 27 825 2,344 13 2,905 554 115 86 17,741 3,017 175 51,135 280 1,238 - 1,048 258	-		126,586
				1,380 - 150 230 32 488 336 21,211 708 - 813 351 2,569 - 2,414 684 115 115 17,865 2,649 112 40,132 292 937 - 616 230
	99,571 99,571 2,712 - 5,774 3,062	- - - 143,456 143,456	99,571 99,571 2,712 - 149,230 146,519	94,429 94,429
				32,157 179,205
				211,362

THE JASMINE TRUST

Notes BALANCE SHEET as at 28 February 2022 Fixed assets Tangible assets 7 Current assets Stocks - goods for resale Debtors 8 Cash at bank and in hand Creditors Amounts falling due within one year 9 Deferred income 10 Net current assets Net assets Represented by; Restricted funds 11 Designated funds 11 General funds 11 Total funds 12	£ £ 143,120 222 2,164 37,122 39,508 1,713 764 2,477 37,031 180,151 143,456 - 35,219 178,676 2022	2021 £ 157,617 222 14,006 52,862
	39,508 1,713 764	67,090 1,567 11,777
	2,477	13,344 53,746
		211,363
		173,431 - 37,931
		211,362

For the financial year ended 28 February 2021 the company was entitled to exemption from audit under section 477 Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the Act with respect to accounting records and preparation of accounts.

These accounts are prepared in accordance with the provisions applicable to companies subject to the small companies regime.

ON BEHALF OF THE BOARD

Susan Hughes Director

Dated:

The Jasmine Trust

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2022

1 Basis of preparation

1.1 These accounts have been prepared on the basis of the historical cost convention in accordance with; * Accounting and Reporting by Charities - Statement of Recognised (SORP 2005);
Financial Reporting Standards for Smaller Entities; and
The Charities Act 1993 and Charities Act 2006
1.2 There has been no change to the accounting policies since last year.
1.3 No change has been made to the accounts for the previous year.

2 Accounting Policies

2.1 Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
2.2 Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
2.3 Restricted funds are to be used for specific purposes as laid down by the donor.
2.4 Incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, and the monetary value can be measured with sufficient reliability.
2.5 Incoming grants and donations are only included in the SoFA when the Charity has unconditional entitlement to the resources.
2.6 Gifts in kind are accounted for at a reasonable estimate of their value to the Charity.
2.7 Investment income is included when receivable.
2.8 Liabilities are recognised as soon as there is legal or constructive obligation committing the Charity to pay out the resources.
2.9 Tangible fixed assets for use by the Charity are capitalised if they can be used for more than one year. They are valued at cost or reasonable value on receipt.
2.10 Leasehold improvements are amortised over the period of the lease, 20 years. Amortisation is taken straight to Designated Funds on the Balance Sheet, writing down this reserve in line with the related asset.
2.11 Stocks of goods for re-sale are valued at the lower of cost and market value.

THE JASMINE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2022

3. Incoming resources from activities to further the charity's objectives

Unrestricted Restricted £ £ 28,916 = 3,015 19,178 1,084 1,465	Total 2022 £ 28,916 - 3,015 19,178 1,084 - 1,465 -	Total 2021 £ 7,276 19,128 6,295 25,716 386 - 1,820 -
53,659 -	53,659	60,621
	2022 £ 336 -	2021 £ 336 -
	2022 £ 51,135 1,238 - 11,942 - 40,431 2022 - 3	2021 £ 39,062 1,070 - 16,247 -
		23,885
		2021 - 3

6. Taxation

The charitable company is exempt from Corporation Tax on its charitable activities

The Jasmine Trust

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2022

7. Tangible fixed assets

7. Tangible fixed assets
Cost At 1 March 2021 Additions in year At 28 February 2022 Depreciation At 1 March 2021 Charge for the year Transfer to reserves At 28 February 2022 Net book value At 28 February 2022 At 29 February 2021 8. Debtors	Furniture, Leasehold land fixtures & and buildings equipment £ £ 283,213 22,717 - - 283,213 22,717 126,268 22,045 - 336 14,161 140,429 22,381 142,784 336 156,945 672	Total £ 305,930 -
		305,930
		148,313 336 14,161
		162,810
		143,120
		157,617

8. Debtors
Sundry debtors Prepayments 9. Creditors; amounts falling due within one year Taxation and social security Trade creditors Other creditors Accruals 10. Deferred income At 1 March 2019 Advanced fees for services to be delivered in 2021/22 Amounts released	2022 £ 764 1,400 2,164 2022 £ 233 316 204 960 1,713 2022 £ 11,777 764 11,777 - 764	2021 £ 1,044 12,962
		14,006
		2021 £ 164 99 204 1,100
		1,567
		2021 £ 18,319 11,777 18,319 -
		11,777

The Jasmine Trust

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2022

11. Analysis of net assets between funds

Tangible assets Current assets Current liabilities Net assets at 28 February 2021 vements in funds At 1 March 2021 £ Unrestricted funds General funds 37,931 Designated funds - Restricted funds 157,617 Total funds 195,548	General funds £ 336 39,508 2,477 - 37,367 Incoming resources £ 96,859 - - 96,859	Designated funds £ - - - - Outgoing resources £ 99,571 - - 99,571	Restricted funds £ 142,784 - - 142,784 Transfers £ - - 14,161 14,161	Total funds £ 143,120 39,508 2,477 -
				180,151
				At 28 February 2022 £ 35,219 - 143,456
				178,676

12. Movements in funds

1,475

Ferndene, Big Lane, Clarborough Retford, Nottinghamshire. DN22 9LT Phone: 01777 862433, 07896661157 & 07800593555 Email: paul@ps-accountancy.co.uk

The Trustees Jasmine Trust Babworth Court Babworth Retford Nottinghamshire DN22 8EW

5TH November 2022

Jasmine Trust

Dear Mr Parkin,

We have prepared the attached accounts and reviewed the Trustees Report nd therr are no areas of concern wtith the charity and it’s governance..

We do not prepare management accounts for this client, who prepares his bank reconciliations,

Bookkeeping

The client prepares his accounts on excel spreadsheets. We copy these and edit them accordingly.

We trust this response is sufficient for your purposes

Yours sincerely

Paul N Startin BSc MA FCA Director

PS Accountancy is the trading name of PS Accountancy & Taxation Services Limited, registered in England & Wales, number 10184440

Director: Paul Startin BSc (Hons) MA FCA – Chartered Accountant