**Charity registration number 1140757**
**Company registration number 07547522 (England and Wales)**
## **JORDAN FAMILY FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **JORDAN FAMILY FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** E Jordan M P Jordan P A Young **Secretary** P A Young **Charity number** 1140757 **Company number** 07547522 **Registered office** Fifth Floor Clareville House 26-27 Oxendon Street St James's London SW1Y 4EL **Independent examiner** Vikram Sandhu FCCA Haysmacintyre LLP 10 Queens Street Place London EC4R 1AG
## **JORDAN FAMILY FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Statement of trustees' responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 10|
## **JORDAN FAMILY FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The charity's objectives are the advancement of health and the relief of those in need by reason of ill-health, age, disability, financial hardship or other disadvantage in any case for the benefit of the public, and the treatment and care of children and young adults suffering from mental or physical illness or injury of any description or in need of rehabilitation as a result of such illness or injury.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
In planning the activities for the year, the directors ensured that the guidance as issued by the Charity Commission was adhered to. The charity received donations from the trustees and third parties and made donations to various charities during the year in accordance with the charity's objectives.
## **Financial review**
The charity received funding during the year of £60,380 (2021: £9,000). The funds have been utilised to provide funding to registered charities such as The Amber Foundation, who offer support to homeless unemployed youth; The Hummingbird Initiative, a not-for-profit initiative directly helping to advance the standard of living for rural communities in developing countries and Irish Youth Foundation (UK), who aim to meet the needs of children and young people from disadvantaged backgrounds.
At 31 March 2022, there is a balance of £49,690 (2021: £53,107) of unrestricted funds held by the charity to enable the trustees to assess the merits of a variety of worthy causes to be selected for consideration. There were no deficit funds on the balance sheet at 31 March 2022.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use, and reserves, should be maintained at a level equivalent to between at least three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year, with the year-end balance of reserves being £49,690 (2021: £53,107).
## **Risks**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to any major risks. As a small charity, they do not consider that the charity is exposed to any significant risks.
## **Structure, governance and management**
The charity is a company limited by guarantee. The governing documents of the charity are the memorandum and articles of association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
E Jordan
M P Jordan P A Young
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## **JORDAN FAMILY FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
No external bodies are entitled to appoint trustees in the charity. Given the relatively small structure, the current trustees recruit and appoint new trustees as they consider it necessary.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
In the preparation of the year-end financial statements, the trustees have considered whether the charity is a going concern for the foreseeable future and, hence, whether it is appropriate to prepare the financial statements on a going concern basis. The period they have considered is at least twelve months from the date of approval of the financial statements. On the basis of their review, the trustees consider the charity a going concern.
The trustees are the only key personnel, none of whom receive remuneration for services provided.
As a charity, Jordan Family Foundation must be able to demonstrate that its objects and activities are for the public benefit as required by the Charities Act 2011. The trustees have all reviewed the guidance issued by the Charity Commission on public benefit and have ensured that the charity's objects and activities comply with this statutory requirement. The trustees confirm they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.
The trustees' report was approved by the Board of Trustees.
.............................. Peter Young P A Young **Trustee**
Date: 31 January 2023
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## **JORDAN FAMILY FOUNDATION**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees, who are also the directors of Jordan Family Foundation for the purpose 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
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 judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **JORDAN FAMILY FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JORDAN FAMILY FOUNDATION**
I report on the financial statements of the charity for the year ended 31 March 2022, which are set out on pages 5 to 10.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the charitable 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 charitable company’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable 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 giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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
4. the accounts 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.
Signed:
Dated: ......................... 31 January 2023
Vikram Sandhu Haysmacintyre LLP, Association of Chartered Certified Accountants 10 Queen Street Place London EC4R 1AG
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## **JORDAN FAMILY FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2022**|**2021**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|60,380|9,000|
|**Expenditure on:**||||
|Charitable activities|**4**|63,797|45,540|
|**Net expenditure for the year/**||||
|**Net movement in funds**||(3,417)|(36,540)|
|Fund balances at 1 April 2021||53,107|89,647|
|**Fund balances at 31 March 2022**||49,690|53,107|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **JORDAN FAMILY FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**Notes**
**Fixed assets**
Investments
**7**
**Current assets**
Stocks
**8**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**9**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2022**
**£**
6,000
9,990
15,990
(3,300)|**£**
37,000
12,690
49,690
49,690
49,690|**2021**
**£**
-
16,107
16,107
-|**£**
37,000
16,107|
|---|---|---|---|---|
|||||53,107|
|||||53,107|
|||||53,107|
The charity is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
## Trustees' responsibilities:
- The Members have not required the charity to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The Trustees 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.
The accounts were approved by the Trustees on 31 January 2023.
.............................. Peter Young P A Young **Trustee**
## **Company Registration No. 07547522**
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## **JORDAN FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Charity information**
Jordan Family Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Fifth Floor, Clareville House, 26-27 Oxendon Street, St James’s, London, SW1Y 4EL.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. In particular, the trustees have reviewed the charity’s cash flow reserves, forecasts and the costs of the as a result of the COVID-19 pandemic. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## **JORDAN FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised when payable and comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
The charity's main resources expended relates to donations to other charities as decided upon by the trustees and are recognised when payable.
Governance costs relate to Charity Commission and Companies Act compliance fees by professional service providers and are recognised on an accruals basis. The trustees do not claim expenses from the charity.
## **1.6 Fixed asset investments**
Fixed asset investments are held to generate income or for their investment potential, or both. Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year.
## **1.7 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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## **JORDAN FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Donations and gifts|60,380|9,000|
- **4 Charitable activities**
|Donations to other charities
Support costs|**2022**
**£**
60,414
3,383
63,797|**2021**
**£**
45,395
145|
|---|---|---|
|||45,540|
## **5 Trustees**
None of the trustees (or any persons connected with them), who are considered the only key personnel of the charity, received any remuneration during the year.
## **6 Employees**
There were no employees during either the current or prior year.
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## **JORDAN FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**7**
**Fixed asset investments**
**Cost or valuation**
At 1 April 2021 & 31 March 2022
**Carrying amount**
At 31 March 2022
At 31 March 2021
**8**
**Stocks**
Finished goods and goods for resale
**9**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**10**
**Related party transactions**|**Art and**
**paintings**
**£**
37,000
37,000
37,000
**2022**
**2021**
**£**
**£**
6,000
-
**2022**
**2021**
**£**
**£**
3,300
-|
|---|---|
During the year, trustee E Jordan donated £43,500 (2021: £Nil) to the charity.
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