COMPANY REGISTRATION NUMBER: 06548784 CHARITY REGISTRATION NUMBER: 01124843
The JayTee Foundation Company Limited by Guarantee Unaudited Financial Statements
31 March 2024
HARRISON HOLT
Chartered Accountants High Park Farm Kirkbymoorside York YO62 7HS
The JayTee Foundation
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
The JayTee Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
Reference and administrative details
Registered charity name The JayTee Foundation Charity registration number 01124843 Company registration number 06548784 Principal office and registered Bowcliffe Hall office Bramham West Yorkshire LS23 6LP United Kingdom The trustees Lindsay Austin Christopher Ritchie Jonathan Turner Karen Turner Frederick Turner Olivia Turner (Appointed 2 October 2023) Harry Turner (Appointed 2 October 2023) Company secretary Christopher Ritchie Independent examiner Philip Holt FCA FCIE High Park Farm Kirkbymoorside York YO62 7HS
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The JayTee Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management
Governing Documents
The company is a charitable company limited by guarantee and does not have a share capital. The company is governed by its Memorandum and Articles of Association and has been granted permission by the Companies Act 2006 to omit the word 'Limited' from its name.
Organisational Structure
The charitable company is administered by a Board of Trustees which meets from time to time. The Board has no staff and the Trustees run the day to day operations of the charitable company.
Recruitment, Appointment, Induction and Training of Trustees
In accordance with the Articles of Association, the Trustees shall have power at any time, from time to time, (but only with the consent of the Founding Trustee during his lifetime) to appoint any person to be a Trustee but so that the total number of Trustees shall not be less than three nor more than seven.
An induction booklet is given to all new Trustees which gives the necessary information about the Charity, its strategic objectives and history. It explains the Articles of Association and principles of good governance.
A chapter is dedicated in explaining the Trustee's role, the skills and qualities required, and the role of Trustees in strategic planning. A further chapter gives guidance from the Charities Commission to Trustees on their responsibilities.
Risk Management
The Trustees have assessed the major risks to which the charitable company is exposed.
The Trustees are satisfied that there are systems in place to mitigate exposure to these major risks.
Grant making policy
The Trustees consider applications for special grants from applicants. Applications are considered and measured against the charity's objectives at trustee meetings. Successful applications are paid after approval. Grants are included in the accounts when the Trustees have made an irrevocable commitment to pay.
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The JayTee Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities
The objects for which the charitable company was established are such purposes as shall be exclusively charitable as the trustees in their absolute discretion from time to time think fit. The principal activity, that the Trustees use to fulfil the charitable objects, is making grants available to beneficiaries.
Substantial grants, amounting to £36,000 was donated to Yorkshire Children's Charity (2023 - £18,000) to support children in Yorkshire. £30,400 was donated to Hope for Tomorrow in order to help provide mobile cancer care units. £48,000 was committed over a two-year period in equal instalments to Life Connections - Spear Leeds whose main focus is to transform the lives of 16-24 year olds who experience barriers to employment and enrolling them on an intensive six-week coaching programme. £6,415 was donated to Dementia Forward which supports people affected by dementia across North Yorkshire.
The Charity continues to support other causes whose criteria meet the charitable objectives.
Achievements and performance
The Charity has achieved its aim of supporting the education and personal development of young people by making grants to various institutions.
The charitable activities undertaken during this year consist of grants paid to thirteen (2023 - 13) charities. The grants paid to charitable institutions for the year were £131,285 (2023 - £56,268) and grants paid to individuals for the year were £– (2023 one - £–).
Financial review
During the period, the Charity received donations amounting to £56,570 (2023: £3,100) and related Gift Aid claims of £1,750 (2023: £25,142).
The total expenditure on charitable activities amounted to £132,285 (2023: £57,268) with governance and other resources expensed totalled £3,120 (2023: £1,848) during the period the decrease in unrestricted funds amounted to £75,951 (2023: £29,580).
At 31 March 2024, the net assets of the Charity amounted to a surplus of £12,136 (2023: £88,087).
The Trustees are satisfied by the performance of the charity and its results as set out in these financial statements.
Policy on reserves
It is the policy of the Charity to maintain a level of funds sufficient to meet the ongoing annual obligations of the charity. Accordingly, the Trustees consider that free reserves of around £2,000 will allow the Charity to pay any administrative overheads for one year.
At the year end, the free reserves of the Charity show a surplus of £12,136 (2023: £88,087). The Trustees will be making substantial grants to beneficiaries in the forthcoming year to reduce the surplus reserves.
The Trustees have decided that holding reserves is unnecessary because they have the power to distribute all of the unrestricted funds of the Charity.
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The JayTee Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 19 December 2024 and signed on behalf of the board of trustees by:
JONATHAN TURNER
Trustee
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The JayTee Foundation
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The JayTee Foundation
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of The JayTee Foundation ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
PHILIP HOLT FCA FCIE
Independent Examiner
High Park Farm Kirkbymoorside York YO62 7HS
20 December 2024
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The JayTee Foundation
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 58,320 | 58,320 | 28,242 |
| Other trading activities | 6 | 1,350 | 1,350 | 1,510 |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total income | 59,670 | 59,670 | 29,752 | |
| =========================== | =========================== | =========================== | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | (216) | (216) | (216) |
| Expenditure on charitable activities | 8,9 | (135,405) | (135,405) | (59,116) |
| -------------------------------- | -------------------------------- | --------------------------- | ||
| Total expenditure | (135,621) | (135,621) | (59,332) | |
| ================================ | ================================ | =========================== | ||
| -------------------------------- | -------------------------------- | --------------------------- | ||
| Net expenditure and net movement in funds | (75,951) | (75,951) | (29,580) | |
| ================================ | ================================ | =========================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 88,087 | 88,087 | 117,667 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 12,136 | 12,136 | 88,087 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 14 form part of these financial statements.
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The JayTee Foundation
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 38,056 | 90,935 | ||
| Creditors: amounts falling due within one year | 15 | (25,920) | (2,848) | |
| --------------------------- | --------------------------- | |||
| Net current assets | 12,136 | 88,087 | ||
| --------------------------- | --------------------------- | |||
| Total assets less current liabilities | 12,136 | 88,087 | ||
| --------------------------- | --------------------------- | |||
| Net assets | 12,136 | 88,087 | ||
| =========================== | =========================== | |||
| Funds of the charity | ||||
| Unrestricted funds | 12,136 | 88,087 | ||
| --------------------------- | --------------------------- | |||
| Total charity funds | 16 | 12,136 | 88,087 | |
| =========================== | =========================== |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 19 December 2024, and are signed on behalf of the board by:
JONATHAN TURNER
Trustee
The notes on pages 8 to 14 form part of these financial statements.
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Bowcliffe Hall, Bramham, West Yorkshire, LS23 6LP, United Kingdom.
2. Statement of compliance
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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The JayTee Foundation constitutes a public benefit entity as defined by FRS 102.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities, within the next financial year, are the levels of future funding and expenditure on charitable activities.
Income tax
As a charity, The JayTee Foundation is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The JayTee Foundation is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations from other trustees | 6,500 | 6,500 | 600 | 600 | |
| Bayford & Co Limited | 49,020 | 49,020 | 2,400 | 2,400 | |
| Donations from individuals | 250 | 250 | 100 | 100 | |
| Donations from companies | 800 | 800 | – | – | |
| Other donations and legacies | |||||
| Gift Aid and other tax repayments on | |||||
| donations | 1,750 | 1,750 | 25,142 | 25,142 | |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | ||
| 58,320 | 58,320 | 28,242 | 28,242 | ||
| =========================== | =========================== | =========================== | =========================== | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Leeds Festival Ticket Auction | 1,350 | 1,350 | 1,510 | 1,510 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Fundraising fees | 216 | 216 | 216 | 216 | |
| ============== | ============== | ============== | ============== |
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Education | – | – | – | |
| Welfare and Medical | 78,785 | – | 78,785 | |
| Citizenship or community development | 52,500 | – | 52,500 | |
| Support for the Arts | – | – | – | |
| Support costs | 4,120 | – | 4,120 | |
| -------------------------------- | -------------- | -------------------------------- | ||
| 135,405 | – | 135,405 | ||
| ================================ | ============== | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Education | 7,500 | – | 7,500 | |
| Welfare and Medical | 1,453 | 4,265 | 5,718 | |
| Citizenship or community development | 42,550 | – | 42,550 | |
| Support for the Arts | 500 | – | 500 | |
| Support costs | 2,848 | – | 2,848 | |
| --------------------------- | ----------------------- | --------------------------- | ||
| 54,851 | 4,265 | 59,116 | ||
| =========================== | ======================= | =========================== | ||
| Expenditure on charitable activities by activity type | ||||
| Grant funding | Support | Total funds | Total fund | |
| of activities | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Education | – | – | – | 7,500 |
| Welfare and Medical | 78,785 | – | 78,785 | 5,718 |
| Citizenship or community development | 52,500 |
1,000 | 53,500 | 43,550 |
| Support for the Arts | – | – | – | 500 |
| Governance costs | – | 3,120 | 3,120 | 1,848 |
| -------------------------------- | ----------------------- | -------------------------------- | --------------------------- | |
| 131,285 | 4,120 | 135,405 | 59,116 | |
| ================================ | ======================= | ================================ | =========================== | |
| Analysis of support costs | ||||
| Grant funding | Governance | |||
| of activities | costs | Total 2024 | Total 2023 | |
| £ | £ | £ | £ | |
| Membership Renewal fees | 1,000 | – | 1,000 | 1,000 |
| Independent examiners fees | – | 1,920 | 1,920 | 1,848 |
| Legal fees | – | 1,200 | 1,200 | – |
| ----------------------- | ----------------------- | ----------------------- | ----------------------- | |
| 1,000 | 3,120 | 4,120 | 2,848 | |
| ======================= | ======================= | ======================= | ======================= |
9. Expenditure on charitable activities by activity type
10. Analysis of support costs
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
11. Analysis of grants
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to institutions | |||
| The Archbishop of York Youth Trust | – | 7,500 | |
| The Sick Children's Trust | 500 | – | |
| Ripon Poetry Festival | – | 500 | |
| Nidderdale Children's Resource Centre | – | 1,000 | |
| Leeds Community Foundation | 1,000 | 6,000 | |
| Bramham Fun Run | – | 200 | |
| Dales and Bowland CIC | 2,500 | – | |
| Dementia Forward | 6,415 | – | |
| Bradford District Community Foundation | – | 3,000 | |
| Saint Michael's Hospice | – | 1,453 | |
| Two Ridings Community Foundation | – | 3,000 | |
| Yorkshire Children's Charity | 36,000 | 18,000 | |
| The Charlie Waller Trust | – | 4,265 | |
| New Beginnings | – | 850 | |
| The University of Northumbria | – | 7,500 | |
| The Piece Hall Charitable Trust | – | 3,000 | |
| Life Connections | 48,000 | – | |
| Yorkshire Cancer Research | 820 | – | |
| JPC Community Farm | 4,650 | – | |
| Hope for Tomorrow | 30,400 | – | |
| Kinamba Project | 1,000 | – | |
| -------------------------------- | --------------------------- | ||
| 131,285 | 56,268 | ||
| -------------------------------- | --------------------------- | ||
| Total grants | 131,285 | 56,268 | |
| ================================ | =========================== | ||
| 12. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 1,920 | 1,848 | |
| ======================= | ======================= |
13. Staff costs
There are no employees and no salaries or wages have been paid to employees, including the Board of Trustees, during the current year or previous year.
14. Trustee remuneration and expenses
None of the Trustees received any emoluments or reimbursed expenses during the current or previous year.
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The JayTee Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
15. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,920 | 2,848 |
| Grants payable | 24,000 | – |
| --------------------------- | ----------------------- | |
| 25,920 | 2,848 | |
| =========================== | ======================= |
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 1 April | At 31 March | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| General funds | 88,087 | 59,670 | (135,621) | 12,136 |
| =========================== | =========================== | ================================ | =========================== | |
| At 1 April | At 31 March | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 113,402 | 29,752 | (55,067) | 88,087 |
| ================================ | =========================== | =========================== | =========================== | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Current assets | 38,056 | 38,056 | ||
| Creditors less than 1 year | (25,920) | (25,920) |
||
| --------------------------- | --------------------------- | |||
| Net assets | 12,136 | 12,136 | ||
| =========================== | =========================== | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 90,935 | 90,935 | ||
| Creditors less than 1 year | (2,848) | (2,848) |
||
| --------------------------- | --------------------------- | |||
| Net assets | 88,087 | 88,087 | ||
| =========================== | =========================== |
17. Analysis of net assets between funds
18. Related parties
The donations received in the period amounting to £– (2023 - £–) were made by Jonathan Turner, the Founding Trustee. In addition, other trustees donated £6,500 (2023 - £600).
Bayford & Co Limited, a company controlled by Jonathan Turner, donated £49,020 (2023 - £2,400).
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