THE JARRETT FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MAY 2022
CHARITY NUMBER :1148658
COMPANY NUMBER: 07140922
THE JARRETT FOUNDATION KEMP HOUSE 124 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 124 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
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. The aftermath of COVID-19 left an increase in our referrals due to many young people suffering from loneliness, depression, and even suicide.
We obtained funding from various funders to run multiple youth mentoring cycles that have seen good outcomes.
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Partnerships
In 2022 The Jarrett Foundation decided that we needed to grow to be able to provide more Youth Mentoring services and build greater capacity. We did not have the funds we needed to employ all the staff that was required to build that capacity, so we decided that instead of doing things alone, we made the decision to forge various partnerships. The partnerships have been very good for the charity, and we intend to use this as a mechanism to grow in 2023 and beyond.
Our 2022 partners have included Tesco, Groundwork, Metropolitan Police and Beats.
Because of the great outcomes that The Jarrett Foundation has managed to achieve over the past years, the Foundation was invited to New Scotland Yard where we have been co-opted into high-level meetings with the various Commanders. As a result, we have now Partnered with the Metropolitan Police to deliver a London wide reducing knife crime, School/PRU tour. New Scotland Yard have determined that The Jarrett Foundation should be given access to all schools, all PRUs and all Alternative Provisions in the London area.
In addition, the Foundation has been very honoured to be selected to Partner with Tesco. Tesco has decided to Sponsor our reducing knife crime school tour.
The Foundation was honoured to be selected as one of four charities to be Partnered with Beats by Dre, which is a headphones company owned by Apple.
Outcomes of our Youth Mentoring Programmes
100% of parents noticed commitment from their young people to be part of our course.
100% retention. All of the young people stayed for the entire project.
85% of parents reported a positive change in attitude of their young person.
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.
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.
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International Development – Jamaica
Face Masks
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 Ministry of Health and Wellness in the government of Jamaica. The majority went to healthcare workers, some went to the Ministry of Education for both teachers and students and the rest went to grassroots organisations to be given out the community. 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. Government stated that this single donation probably saved countless lives.
Solar Energy Feasibility Study
2022 The Jarrett Foundation worked closely with the Government of Jamaica, with the Ministry of Education along with the primary schools, to ascertain how the schools would benefit by having solar energy to generate their electricity, as opposed to using fossil fuels.
The Foundation interviewed many stakeholders using the top-down approach and the grassroots bottom-up approach, to gain an understanding of the issues. Following the interviews, the Foundation commissioned a Feasibility Study. The results of that Feasibility Study will be implemented in 2023.
FINANCIAL REVIEW
The income of the charity is £81,048. 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.
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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.
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 __ 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 2022 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 2022
| Restricted | **Unrestricted ** | Total Funds | ||||
|---|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | |||
| Incoming ResourcesNote | £ | £ | £ | |||
| from generated funds | ||||||
| Voluntary Income | 2 | 0 | 33447 | 33447 | 7413 | |
| Investment income | 3 | 0 | 723 | 723 | 2543 | |
| 0 | 34170 | 34170 | 9956 | |||
| Other Income | ||||||
| Grants | 46878 | 0 | 46878 | 43422 | ||
| Total Incoming | 46878 | 34170 | 81048 | 53378 | ||
| Resources | ||||||
| Resources Expended | ||||||
| Charitable activities in furtherance of objectives | ||||||
| Cost of Activities | 6 | 42,699 | 817 | 43,516 | 51127 | |
| Other | 4 | 700 | 700 | 400 | ||
| Total Resources | 42,699 | 1517 | 44,216 | 51527 | ||
| Expended | ||||||
| Net movement in funds | 4,179 | 32653 | 36,832 | 1851 | ||
| Reconciliation of Funds | ||||||
| Total Funds brought forward | 11891 | 6711 | 18602 | 16751 | ||
| Total Funds carried forward | 16,070 | 39364 | 55,434 | 18602 |
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 2022
| Note 2022 Fixed Assets £ Tangible fixed assets 5 1150 _ 1150 _ Current Assets Cash at bank and 54618 in hand Debtors & prepayments 5210 59828 Creditors:amounts falling due within one year Creditors & accruals 8 400 _ Net Current Assets 59428 _ Creditors:amounts falling due after one year 5144 Net Assets 55434 Unrestricted Funds 39364 Restricted Funds 16070 _ TOTAL FUNDS 55434 _ |
2021 £ 1437 |
|---|---|
| 1437 | |
| 19327 0 |
|
| 19327 400 |
|
| 22309 | |
| 5144 18602 |
|
| 6711 11891 |
|
| 18602 |
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 ___
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 2022
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 2022
2 Voluntary Income
| Donations Grants Gift Aid Total |
Restricted UnrestrictedTotal funds Funds Funds 2022 2021 £ £ 7728 7728 9831 46878 46878 40489 25719 25719 515 |
|---|---|
| 46878 33447 80325 50835 |
| **3 ** | Investment income | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total fundsTotal funds | |||||
| Funds £ | 2022/£ | 2021/£ | ||||
| Bank Interest | 0 | 723 | 2543 | |||
| **4 ** | Other | Restricted | Unrestricted | £/2022 | £/2021 | |
| Accounting services | 0 | 700 | 700 | 400 | ||
| Total | 0 | 700 | 700 | 400 | ||
| **5 ** | Tangible Fixed Assets | Equipment | Fix & Fitts | Total | 2022 | |
| Cost | £ | £ | £ | |||
| At 01/04/2021 | 1775 | 120 | 1895 | |||
| Additions | 0 | 0 | 0 | |||
| ______ | ||||||
| At 31/05/2022 | 1775 | 120 | 1895 | |||
| Depreciation | ||||||
| At 01/04/2021 | 415 | 43 | 458 | |||
| charge for the year | 272 | 15 | 287 | |||
| ______ | ||||||
| At 31/05/2022 | 687 | 58 | 745 | |||
| Net Book Value at 31/05/2022 | 1088 | 496 | 1150 | |||
| Net Book Value at 01/04/2021 | 1360 | 96 | 1437 |
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THE JARRETT FOUNDATION Notes to the accounts for year ended 31st MAY 2022
| **6 ** | Cost of Activities in | furtherance | of Charity's Objectives | of Charity's Objectives | of Charity's Objectives |
|---|---|---|---|---|---|
| 2022/£ | 2022/£ | 2021/£ | |||
| Restricted | Unrestricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Hire of equipment | 0 | 0 | 0 | 0 | |
| Professional fees | 22046 | 0 | 22046 | 24936 | |
| Consultancy fees | 7986 | 0 | 7986 | 5411 | |
| Rent | 0 | 106 | 106 | 66 | |
| Events costs | 7629 | 0 | 7629 | 0 | |
| Supplies | 0 | 34 | 34 | 7631 | |
| Light & Heat | 735 | 0 | 735 | 0 | |
| Travel | 715 | 0 | 715 | 7631 | |
| Advertising | 0 | 0 | 0 | 425 | |
| Printing | 123 | 0 | 123 | 52 | |
| Telephone | 704 | 0 | 704 | 272 | |
| Stationery | 0 | 0 | 0 | 807 | |
| Software | 136 | 0 | 136 | 155 | |
| Subscriptions | 291 | 0 | 291 | 120 | |
| Web hosting costs | 175 | 0 | 175 | 446 | |
| Volunteers expenses | 1073 | 0 | 1073 | 1496 | |
| Depreciation | 287 | 0 | 287 | 359 | |
| Admin | 799 | 0 | 799 | 1029 | |
| Refreshments | 0 | 677 | 677 | 291 | |
| Total | 42699 | 817 | 43516 | 51127 |
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
2022/£ 2021/£ Accountancy Services 400 400
8 Debtors and Prepayments 2022/£ 2021/£ 0
9 Crediotrs:amounts falling due within 1 year 400 400 10 Creditors:amounts due after 1 year 5144 5144
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