## **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**
**£**
**£**
Yoga classes
28,916
Zoom sessions
=
Seminars
3,015
Teacher training
19,178
Individual tuition
1,084
External group tuition
Verifiers' fees
1,465
**53,659**
**-**
**4. Net incoming resources for the year**
**This is stated after charging;**
Depreciation
Directors' remuneration
**5. Staff costs and numbers**
Gross salaries
Pension contributions
Social security costs
Job Retention Grant Scheme amounts
The average weekly number of employees during the year, calculated on the basis of
full-time equivalents was as follows;
Directors
Administration and support|**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