THE JARRETT FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MAY 2021
CHARITY NUMBER :1148658
COMPANY NUMBER: 07140922
THE JARRETT FOUNDATION KEMP HOUSE 152- 160 CITY ROAD LONDON EC1V 2NX
INDEX Page Index 1 Trustee’s Report 2-5 Independent Examiner’s Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes on the financial Statements 9 - 11
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THE JARRETT FOUNDATION TRUSTEES’ REPORT YEAR ENDED 31[ST] MAY 2021
The trustees are pleased to present their report for the year ended 31[ST] May 2021 for the charity, THE JARRETT FOUNDATION with Charity Number 1148658.
The Trustees of the charity are: Lincoln Beckford - Chair Cordelia Blair Hassan Kamara
The principal address of the charity is : Kemp House 152 – 160 City Road London, EC1V 2NX
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a Memorandum and Articles of Association that was incorporated on 29[TH] January 2010 as amended on 6[th] February 2020. The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The charity’s objects ("Objects") are specifically restricted to the following: 1. The advancement of education by supporting the work of child education establishments, in any part of the world, in particular but not exclusively by providing equipment.
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The advancement and promotion of health and prevention or relief of sickness, in any part of the world, of women suffering from female health issues, in particular but not exclusively by promoting activities that have a proven beneficial effect on health.
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The advancement and promotion of the arts on a national/professional level, in any part of the world, through heritage and culture, by in particular but not exclusively by creating arts events for those normally excluded .
ACHIEVMENTS AND PERFORMANCE
COVID-19 - UK
In April 2020 the charity received funding from various funding bodies to help the pain and suffering of the community due to the COVID-19 pandemic. The Jarrett Foundation was able to be effective by distributing free masks and free hand sanitisers to the community, particularly at the beginning of the pandemic when facemask and hand sanitises could not be found in the stores.
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Youth Mentoring -UK
The Jarrett Foundation delivers projects to help young people, particularly the most vulnerable, those who are involved in anything from knife and street crime to antisocial behaviour. Due to COVID-19 we have seen an increase in our referrals due to many young people suffering from loneliness, depression, and even suicide.
We have obtained funding from various funders to run multiple youth mentoring cycles that has seen significant outcomes. These are the results of our latest “Let’s Cook Together 2” mentoring/cooking project.
100% of parents noticed commitment from their young people.
100% retention. All of the young stayed the entire project, showing up every day with all utensils required for that day, together with the food in their kitchens and ready to work.
85% of parents reported how their young person was excited and proud of what they created. They took the opportunity very seriously.
85% of youth demonstrated listening skills, being attentive and following the instructions that were given before, during and after the sessions.
90% said that they had significantly grown in confidence
82% of parents stated they that seen a notable change in behaviour and attitude
100% of youth said that they would like to repeat the course
100% of parents said that they would like their youth to repeat the course
75% of youth have kept up their cooking skills since the course. Some have even used their own initiative and experimented to cook other meals using YouTube.
100% of youth had never budgeted or shopped for groceries
100% of youth had never cooked for their families
10% of youth said they would like to cook for a career
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– International Development Jamaica
In 2021 we wanted to help Jamaica through the COVID-19 pandemic, so we asked for face masks to be donated to the charity. Full Support Healthcare a PPE supplier in the UK, donated 2 million face masks to The Jarrett Foundation.
We were able to ship a full 40-foot container to Jamaica and this was handed over to the government of Jamaica. The majority went to healthcare workers, some went to education workers both teachers and students and the rest went to grassroots organisations. The government were very pleased with the donation and thanked us because the timing could not have been better, as the masks arrived immediately before the second wave.
FINANCIAL REVIEW
The income of the charity is above £53,000. This is a higher amount for this year than last year, but the costs have been well managed over this period. The organisation is still in a good position to manage its costs.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the charity. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
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They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the charity at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the charity and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 7[th] February 2022 and signed on their behalf by:
Mr Lincoln Beckford – Chair of Trustees _____
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Independent Examiner’s Report To the Trustees
THE JARRETT FOUNDATION
I report on the accounts of the charity for the year ended 31[st ] May 2021 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the charity are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles road Mitcham Surrey CR4 3FH
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THE JARRETT FOUNDATION
Statement of Financial Activities for the year ended 31st May 2021
| Restricted | **Unrestricted ** | Total Funds | ||||
|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |||
| Incoming ResourcesNote | £ | £ | £ | |||
| from generated funds | ||||||
| Voluntary Income | 2 | 0 | 7413 | 7413 | 11163 | |
| Investment income | 3 | 0 | 2543 | 2543 | 0 | |
| 0 | 9956 | 9956 | 11163 | |||
| Other Income | ||||||
| Grants | 43422 | 0 | 43422 | 23976 | ||
| Total Incoming | 43422 | 9956 | 53378 | 35139 | ||
| Resources | ||||||
| Resources Expended | ||||||
| Charitable activities in furtherance of objectives | ||||||
| Cost of Activities | 6 | 41,575 | 9552 | 51,127 | 18338 | |
| Other | 4 | 400 | 400 | 50 | ||
| Total Resources | 41,575 | 9952 | 51,527 | 18388 | ||
| Expended | ||||||
| Net movement in funds | 1,847 | 4 | 1,851 | 16751 | ||
| Reconciliation of Funds | ||||||
| Total Funds brought forward | 10044 | 6707 | 16751 | 0 | ||
| Total Funds carried forward | 11,891 | 6711 | 18,602 | 16751 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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THE JARRETT FOUNDATION Balance Sheet as at 31st May 2021
| Note 2021 Fixed Assets £ Tangible fixed assets 5 1437 _ 1437 _ Current Assets Cash at bank and 19327 in hand Debtors & prepayments 3382 22709 Creditors:amounts falling due within one year Creditors & accruals 8 400 _ Net Current Assets 22309 _ Creditors:amounts falling due after one year 5144 Net Assets 18602 Unrestricted Funds 6711 Restricted Funds 11891 _ TOTAL FUNDS 18602 _ |
2020 £ 396 |
|---|---|
| 396 | |
| 16705 0 |
|
| 16705 350 |
|
| 16355 | |
| 16751 | |
| 6707 10044 |
|
| 16751 |
For the year ended 31st May 2021 The Jarrett Foundation was entitled to exemption from audit under section 477 of the Companies Act relating to small companies: Director's Responsiilities
The members have not required the company to obtain an audit for the year in question under Section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to Accounting records and preparation of the accounts.
The accounts have been prepared in accordance with provisions applicable to companies subject ot he small companies' regime
Approved by the board on 8th Feb 2021
And signed on their behalf by : Mr Lincoln Beckford_____
CHAIR OF TRUSTEE BOARD
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THE JARRETT FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[st] MAY 2021
1) Accounting Policies
The financial statements are prepared under the historic cost convention ( as modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Statement of Recommended Practice: Reporting and Accounting by Charities issued March 2005 and the provisions of the Charities Act 1993. Significant policies adopted are
Incoming Resources
Incoming resources are recognised in the statement of financial activities when entitlement has passed to the charity and the amounts are certain and measurable. Any incoming resources received that relate exclusively to future periods are Deferred on the Balance Sheet
Resources Expended
Expenditure is recognised in the statement of financial activities when a liability is incurred or increased without a commensurate increase in recognised assets or a reduction in liabilities.
Allocation of Costs
Direct Activity Costs comprise those costs that contribute directly to an activity and are allocated to the relevant activity
Support Costs comprise those costs that are necessary to deliver an activity but in themselves do not produce or deliver an activity. Support costs are allocated to activities based on the direct salary costs of the activity compared with total activity salary costs
Governance costs are those costs incurred to meet statutory and constitutional requirements.
Funds
Restricted funds represent income received that is subject to restrictions on use as determined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for specific purposes General funds are those funds made available for the charity’s general objects.
Depreciation
Items of equipment over £500 are capitalised and depreciated so as to write off Cost in equal instalments over their useful lives. Rates are set at equipment 5 to 10 years.
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THE JARRETT FOUNDATION Notes to the accounts for year ended 31st MAY 2021
2 Voluntary Income
| Restricted | Unrestricted | Total funds | |||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||||
| £ | £ | ||||||
| Donations | 2933 | 6898 | 9831 | 11163 | |||
| Grants | 40489 | 40489 | 23976 | ||||
| Gift Aid | 515 | 515 | |||||
| Total | 43422 | 7413 | 50835 | 35139 | |||
| **3 ** | Investment income | ||||||
| Unrestricted | Total fundsTotal funds | ||||||
| Funds £ | 2021/£ | 2020/£ | |||||
| Bank Interest | 0 | 2543 | 0 | ||||
| **4 ** | Other | Restricted | Unrestricted | £/2021 | £/2020 | ||
| Accounting services | 0 | 400 | 400 | ||||
| Charity giving | 50 | ||||||
| Total | 0 | 400 | 400 | 50 | |||
| **5 ** | Tangible Fixed Assets | Equipment | Fix & Fitts | Total | 2021 | ||
| Cost | £ | £ | £ | ||||
| At 01/04/2020 | 375 | 120 | 495 | ||||
| Additions | 1400 | 0 | 1400 | ||||
| ______ | |||||||
| At 31/05/2021 | 1775 | 120 | 1895 | ||||
| Depreciation | |||||||
| At 01/04/2020 | 75 | 24 | 99 | ||||
| charge for the year | 340 | 19 | 359 | ||||
| ______ | |||||||
| At 31/05/2021 | 415 | 43 | 458 | ||||
| Net Book Value at 31/05/2021 | 1360 | 496 | 1437 | ||||
| Net Book Value at 01/04/2020 | 300 | 96 | 396 |
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THE JARRETT FOUNDATION Notes to the accounts for year ended 31st MAY 2021
6 Cost of Activities in furtherance of Charity's Objectives
| Hire of equipment Professional fees Consultancy fees Rent Theatre costs Supplies Music Services Travel Advertising Printing Telephone Stationery Software Subscriptions Web hosting costs Hotel costs Depreciation Admin Refreshments Total |
2021/£ 2021/£ 2020/£ Restricted UnrestrictedTotal Total Funds Funds Funds Funds 0 0 0 450 24936 0 24936 2586 411 5000 5411 2425 0 66 66 1165 0 0 0 3805 4133 3498 7631 637 0 0 0 2893 7631 0 7631 1435 425 0 425 540 0 52 52 176 272 0 272 0 795 12 807 200 0 155 155 73 0 120 120 82 446 0 446 312 1496 0 1496 1037 359 0 359 99 671 358 1029 375 0 291 291 48 |
|---|---|
| 41575 9552 51127 18338 |
Trustee Payments and Related Parties
No trustee or related party received any remuneration during the year except for out of pocket expenses.
7 Creditors:amounts falling due within one year
2021/£ 2020/£ Accountancy Services 400 350
8 Debtors and Prepayments 2021/£ 2020/£
0
9 Crediotrs:amounts falling due within 1 year
400 0 10 Creditors:amounts due after 1 year 5144
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