THE JARRETT FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MAY 2023
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 2023
The trustees are pleased to present their report for the year ended 31[ST] May 2023 for the charity, THE JARRETT FOUNDATION with Charity Number 1148658.
The Trustees of the charity are: Jacqueline Carter - Chair Kevin Howell Katherine Mulhern
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 .
The Jarrett Foundation has been a micro-Charity for many years. Although we have been small, we’ve always punched way above our weight, involved and spearheading and delivering huge projects both home and abroad.
In 2023 we felt it was time to take the charity to a new level, and in order to do that we needed to appoint new Trustees. Our new Trustees are: Jacqueline Carter (Chair) is The Jarrett Foundation’s Ex Bank Manager. We are delighted to have Jackie on our Trustee Board. Jackie was one of the very first people, when she was the Bank Manager at Barclays Bank, who believed in The Jarrett Foundation all those years ago. Because of her, Barclays Bank got behind The Jarrett Foundation shipments of containers to Jamaica that allowed us to kit out 136 schools in Jamaica and saved 70 tons of “so called” waste from going into UK landfills.
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Kevin Howell – We’re so delighted to have Kevin Howell as one of our Trustees. We used to employ Kevin on an ad hoc basis to come in and do our marketing some years ago. We loved having Kevin around he was very efficient and a joy to have in the office, so we are thrilled that he has come back to us, this time as a Trustee. His work experience will be invaluable, as he is also a School Governor.
Katherine Mulhern – We are further delighted to have Katherine Mulhern on our Trustee Board. Katherine has been an international lawyer for many, many years and has helped The Jarrett Foundation through some legal matters during the course of this time. Her huge expertise is invaluable, as she does a lot of international work with refugees.
ACHIEVMENTS AND PERFORMANCE
UK
The “One Decision” Anti-Knife Crime Workshop is ongoing. It’s Sponsored by Tesco
and the Metropolitan Police. We run a London-wide program where we deliver workshops to Schools/PRUs discussing the issues of knife crime with the students and the consequences of their “One Decision”. Its currently in 50 schools, 1-2 in every borough of London.
As a result of the workshops and their success, The Jarrett Foundation has been invited by the Metropolitan Police to work on their new “Stop and Search Charter”. We have brought some young people to New Scotland Yard, who are being interviewed by Senior Officers, and therefore helping to write the Charter, one that is relevant to the young people of London.
Again, because of the success of the “One Decision” workshops, we have now extended our Mentoring program, which was primarily online during Covid, into schools/PRUs across London. Mentoring includes our “Champion Builders” program and also our “Relationship” program. We work with groups of young people, as well as one-to-one sessions.
Jamaica
Internationally The Jarrett Foundation has structured a consortium, whereby we are working with the Jamaican government in collaboration with the University of Technology, Jamaica (UTech) and working with the Ministry of Defence (MoD) UK, to bring water resources to scarce areas in Jamaica.
The Jarrett Foundation has the distribution rights for an Atmospheric Water Generator (AWG), which pulls water from the humidity in the air. Coupled with the latest innovation in solar energy to drive the water, and lastly innovation in solar batteries to be able to capture energy during the daytime, that can be used in the night, water can be produced 24 hours a day, 7 days a week, anywhere in the country.
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This collaboration has far reaching applications i.e. agriculture, food security, communities, refugee camps, disaster relief etc, not just in Jamaica or even the Caribbean, but countries like Sudan, Gaza and anywhere where water may be an issue.
Fundraising
The Jarrett Foundation did very little fundraising in 2023, it’s why our income decreased from the last financial year. This year we focused on mainly two things:
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The One Decision Anti-knife crime workshop
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Research for the water project in Jamaica
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.
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 __ and signed on their behalf by:
Jacqueline Carter – 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 2023 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 2023
| Restricted | **Unrestricted ** | Total Funds | ||||
|---|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |||
| Incoming ResourcesNote | £ | £ | £ | |||
| from generated funds | ||||||
| Voluntary Income | 2 | 0 | 9141 | 9141 | 33447 | |
| Investment income | 3 | 0 | 0 | 0 | 723 | |
| 0 | 9141 | 9141 | 34170 | |||
| Other Income | ||||||
| Grants | 20201 | 3975 | 24176 | 46878 | ||
| Total Incoming | 20201 | 13116 | 33317 | 81048 | ||
| Resources | ||||||
| Resources Expended | ||||||
| Charitable activities in furtherance of objectives | ||||||
| Cost of Activities | 6 | 22,814 | 4532 | 27,346 | 43516 | |
| Other | 4 | 521 | 521 | 700 | ||
| Total Resources | 22,814 | 5053 | 27,867 | 44216 | ||
| Expended | ||||||
| Net movement in funds | -2,613 | 8063 | 5,450 | 36832 | ||
| Reconciliation of Funds | ||||||
| Total Funds brought forward | 16070 | 39364 | 55434 | 18602 | ||
| Total Funds carried forward | 13,457 | 47427 | 60,884 | 55434 |
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 2023
| Note 2023 Fixed Assets £ Tangible fixed assets 5 920 _ 920 _ Current Assets Cash at bank and 55987 in hand Debtors & prepayments 9021 65008 Creditors:amounts falling due within one year Creditors & accruals 8 400 _ Net Current Assets 64608 _ Creditors:amounts falling due after one year 4644 Net Assets 60884 Unrestricted Funds 39364 Restricted Funds 16070 _ TOTAL FUNDS 55434 _ |
2022 £ 1150 |
|---|---|
| 1150 | |
| 54618 5210 |
|
| 59828 400 |
|
| 59428 | |
| 5144 55434 |
|
| 39364 16070 |
|
| 55434 |
For the year ended 31st May 2023 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 : Jacqueline Carter _____
CHAIR OF TRUSTEE BOARD
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THE JARRETT FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[st] MAY 2023
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 2023
2 Voluntary Income
| Donations Grants Gift Aid Other income Total |
Restricted UnrestrictedTotal funds Funds Funds 2023 2022 £ £ 9141 9141 7728 20201 0 20201 46878 0 0 25719 3975 3975 0 |
|---|---|
| 20201 13116 33317 80325 |
| **3 ** | Investment income | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total fundsTotal funds | |||||
| Funds £ | 2023/£ | 2022/£ | ||||
| Bank Interest | 0 | 723 | 723 | |||
| **4 ** | Other | Restricted | Unrestricted | £/2023 | £/2022 | |
| Accounting services | 0 | 521 | 521 | 700 | ||
| Total | 0 | 521 | 521 | 700 | ||
| **5 ** | Tangible Fixed Assets | Equipment | Fix & Fitts | Total | 2023 | |
| Cost | £ | £ | £ | |||
| At 01/04/2022 | 1775 | 120 | 1895 | |||
| Additions | 0 | 0 | 0 | |||
| ______ | ||||||
| At 31/05/2023 | 1775 | 120 | 1895 | |||
| Depreciation | ||||||
| At 01/04/2022 | 687 | 58 | 745 | |||
| charge for the year | 218 | 12 | 230 | |||
| ______ | ||||||
| At 31/05/2023 | 905 | 70 | 975 | |||
| Net Book Value at 31/05/2023 | 870 | 496 | 920 | |||
| Net Book Value at 01/04/2022 | 1088 | 96 | 1150 |
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THE JARRETT FOUNDATION Notes to the accounts for year ended 31st MAY 2023
| **6 ** | Cost of Activities in | furtherance | of Charity's Objectives | of Charity's Objectives | of Charity's Objectives |
|---|---|---|---|---|---|
| 2023/£ | 2023/£ | 2022/£ | |||
| Restricted | Unrestricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Charity donations | 0 | 709 | 709 | 0 | |
| Professional fees | 9060 | 0 | 9060 | 22046 | |
| Consultancy fees | 4308 | 2200 | 6508 | 7986 | |
| Rent | 0 | 38 | 38 | 106 | |
| Events costs | 3040 | 0 | 3040 | 7629 | |
| Supplies | 1858 | 1028 | 2886 | 34 | |
| Light & Heat | 0 | 0 | 0 | 735 | |
| Travel | 2264 | 44 | 2308 | 715 | |
| Advertising | 126 | 0 | 126 | 0 | |
| Printing | 0 | 0 | 0 | 123 | |
| Telephone | 157 | 0 | 157 | 704 | |
| Stationery | 11 | 0 | 11 | 0 | |
| Software | 8 | 0 | 8 | 136 | |
| Subscriptions | 931 | 106 | 1037 | 291 | |
| Web hosting costs | 469 | 0 | 469 | 175 | |
| Volunteers expenses | 93 | 125 | 218 | 1073 | |
| Depreciation | 230 | 0 | 230 | 287 | |
| Bank charges | 0 | 102 | 102 | 0 | |
| Admin | 259 | 0 | 259 | 799 | |
| Refreshments | 0 | 180 | 180 | 677 | |
| Total | 22814 | 4532 | 27346 | 43516 |
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
2023/£ 2022/£ Accountancy Services 400 400
8 Debtors and Prepayments 2023/£ 2022/£ 0 0
9 Crediotrs:amounts falling due within 1 year
400 400 10 Creditors:amounts due after 1 year 4644 5144
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