JonEggingTrust Helping young people achieve 141 Annual Repo and Financi Statementg Year ended 31 August 2023 dth'tynuTribWb¥land*dWale51156261thantynwnEer￿andSc04866&CCI￿Pa￿Y￿Urnbe[ 69 Legal and administrative information TRUSTEES Mr R J Peberdy (Chairl Mrs D Egging Mr J Wiles Ms S Porteous Ms S Spread Ms Z Melarkey Mr J Fyleman lappointed Oct 231 KEY LEADERSHIP Dr E Egging, Chief Executive Officer Ms A James, Director of Operations & Finance Mrs L Carey, Director of Impact & Engagement Mrs F Collins, Director of Communications & Fundraisin9 CharitynumbeiEnylandandWale51156265 ChaiityDu￿beI5tOIla￿d S(048666 Compjnynumber England aDdWale5089C￿909 Registered offitr.. Acre House 11-15 William Ro8d London NW1 3ER United Kingdorn Auditor". HW Fisher LLP Acre House 11-15 William Road London NW1 3ER United Kin9dom 83nkers'. Lloyds Bank plc 73 The Parade Leamington Spa warwickth1￿ CV32 488 02 04 Welcome. Chair of Trustees 05 Introduction, CEO Trustees. report 06 Our mission 07 22-23 in numbers 08 Active JET counties 09 Our impact 10 22-23 impact data 11 Driving impact 12 Space to Learn 13 Partners & volunteers 14 Fundraising 15 Objectives & activities for public benefit 16 Financial review 18 Governance, structure and management 20 Financial statements 21 Statement of trustees, responsibilities 22 Independent auditor's report Financial statements 25 Statement of financial activities 26 Balance sheet 27 Statement of cash flows 28 Notes to the financial statements The Jon Egging Trust 03 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Welcome Chair of Trustees. Richard Peberdy It is deeply concerning to see the povety gap in the UK continue to widen as a result of the profound cost of living crisis. In January 2023, almost 24% of state educated children - or 2 million pupils - were eligible for free school meals, a rate that has increased sharply in recent years and is at its highest level since current records began in 2006.1 We know that childhood poverty has a profound effect on life ¢hances, with only 23% of free school meal pupils earning above minimum wage by the age of 25, according to a 2022 English studP. AI JET. OLJr mission focuses on giving young people from deprived backgrounds the tools and belief to transition successfully into adult life. based on our foundin9 vision that talent is everywhere. but opportunity is not. Our unique methodology tombines long-term social and emotional suppon with access io exceptional STEM workplace5 and prole5sional role models, and our impact analysis Ip. 101 demonstrates just how effective our pro9rarnmes are at arrning young people with the aspiration, motivation and confidence to succeed, placing JET at the heart of the Imperative to break the poverty Cycle. ever, I would like to extend my gratitude to my fellow trustees and to the JET tearn who work tireles51y in service ol the youn9 people we support. I would also like to recognise the imrnense contribution of our corporate and military partners who fund our work nd 9rant access to their exceptional workplaces and WO￿lorCeS to inspire and rnotivate our young people towards the brighter futures that they deserve. .ifiSk . thar3cteri5t￿2O22.23￿taE5DCk-C31￿S*e￿2s￿￿8424￿Wde1t￿SJI1￿I￿b mitr3￿nding50Ile3rnm￿￿1COmEsbYdeM￿zF￿IcWth￿￿Ztt￿5 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Introduction from JET CEO. Dr Emma Egging OBE Young people from disadvantaged backgrounds have had to face even more challenge this year. A sharp increase in the cost of living, on the back of Covid-19 has driven more young people and their families into poverty. Our youth te3m are seeing disengagement with education and learnin9 at School at the worst levels they have ever witne55ed In addition. through our WO￿ with Impetus, we have refined our enrolment criteria to ensure that we target the young people who need us the most. From September 23, we have committed to ensurin9 that 70% of all Blue Skie5 students rneet the free 5ehotsl meal criieria. a key matker ol povety in the UK. On the fundraising front, we are the strongest we have ever been. and this year we reported income growth of 23% to back up our 57% growth in FY22. But we know that we must drive forward with 51milar vigour In the comin9 years if we are to continue to broaden our reach and irnpact across the UK, and we are hugely grateful to our network of committed funders and delivery partners who support our mission. On a final note, our growing collaboration with the space seaor has been a personal highli9ht this year. It build5 on the decade o15UPPOrt we and our students have received from the RAF and our aerospace partners, Taking the same collaborative partnership apprgach, we have brought together Industry. acadernia and government and the proven expertise of the JET team, to help enable the objectives highlighted In the National Space Strategy. intluding workforce developrnent. skills prO9￿$10n and levellin9 up. We are on track lor all Blue Skies students to have experienced at least one in-dassroom space session linked to teamwork and leadership, and at least one Inspirational space workplace visit by the end ol the 24-25 academic year, delivering over 16.147 hours of space-linked support this year alone. Thank you to everyone involved in JET for helping us to maintain our high standards and impact. It is due to your support and our dedicated staff team, trustees, volunteers and adVI￿ry boards that we are able tc> continue to make a fundamental difference to the lives ol young people who are struggling through no fault of their own. During Covid, many students weren't able to 'turn up. to online le550ris because of their horne 51tuation5. Challenges included a lack of suiiable quiet workspace. lack ol access to technology, and minimal home support- perhaps because parerits were keyworkers and working long shifts. For many studÈnts from areas ol multiple deprivation. including many we support at JET, this led io a Complete disengagement with education. We still don't fully understand the long-term impact this will have on th058 Individuals whose Iiv•s have been made immeasurably harder as the result of the pandemic. Helping these young people re.en9age now is tricky, and in the meantime the attainrnent gap betrrfeen the students we work with, and their more affluent peers, coniinues to 9row. Putting ihis in wider coniext," il has been 20 year5 since we last saw a sustained fall In poverty in the UK. If you couple this with the fact th only 44% 01 youn9 people on free school meals pa$5 En91i5h and Maths GCSE compared with 72% 01 all other pupils, it is clear why our focus on young people who a living In areas of high deprivation is 50 lrnPOrtant. Against this bleak backdrop. the work we do at JET is shining a beacon of light and providing hope and pportunity for hundreds of students each year. Inspiration, teamwork. leadetship and employability a the pillars that have underpinned our methodology since 2012, and we know that our inten$ive. eady-inteNention Blue Skies programmes change lives. Improvin9 young people's competencies- or essential social and em¢>tional skills- positively impacts young people's lif chances, helping thern to get better grades and to thnve in education and beyond. Whilst the bedrock of our methodology remains Steadfast, a notable highli9ht this financial year ha5 been the work we began in January 2023 with our new partners at Impetus (see p.111 to hone all aspects of our prograrnmes and drive-up student Impact and reach_ This resulted in the decision to phase out our shorter Blue Skies Inspire Programme, and from September 2024. our three-year programme will be offered to all stLJdents. We are on track to work with 1,4(K) long-tem Blue Skies students per year by 2025-26. The Jon Egging Trust 05 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Our mission The Jon Egging Trust supports young people who are facing adversity and come from disadvantaged backgrounds to develop social and emotional skills, re-engage with learning, improve their grades and in turn maximise their potential. Our experiential learning programmes provide long-term support and access to extraordinary workplaces and STEM environments and the inspirational role models within them. GG I've stru99led quite a bit with stuff going on at home and have been stru9gling to get to school. but Blue Skies has inspired me to think that there is something to look forward to in the future. Eleanor. Blue Skies graduate. 2023. Impact Maximised potsntial Broadened horizon$ Meanin9fv1 employment Why Incr•as•d.. Academie attainment School •n9a9èment S•lf-b•li•f Aspiration What Teamwork Leadership Communication Goalsettin9 Resilience • Confiden¢e Employability How Three years of support Sotial and emotionèl development Experigntial learning • Workplace visits Prtsfe$*onal role models Who Young people ages 12- 15 Free school meals 1>70% studerrt51 Living in aYea$ of deprivation IIMD 141 Livin9 in care Young carers Experience of ACES (adverse childhood experiences) Di5en9aging at school The Jon Egging Trust 2022 - 2023 in numbers 3.100 435 449 56 volunteering and event SUPPQrt hours giverb Blue Skies and Inspirational Outreach s9$5i9ns delivered ¥olunteer$ and •vent supporters worked along5id• the JET team rnilrtsry and orporate partners wpported JET'¥ programrne d•liv•ry roven pos1 Iveo for JET student com•• Improv•d •due￿o￿l a￿0nM•￿ Inhanc•d •mployabl1￿ IThcr•a￿d KKlal mobllty R•dK•d In•gual Univeryity of Northampton. IWI￿le for Soool Innovatron andlm JETEvaluatJOn Studerrt numbers FY23 108 ¢•ntArt h•ws p•r pup D•llv•r•d 4V4IV4 thv•• Jrad•mk y••rn 12 ￿lI10n* p•r y•ar 5 In Jchaol 5 P￿rt￿r vlthx GradyJ¥w £eTem• R•vl•w and •vahwtk*n 5•5th¥n Student numbers FY22 Student numbers FY21 Blue skies 186 208 Blue skies inspire packages 194 438 611 Inspirational outreach 1.902 2.211 116.750 135 12.1371 1. 1 2.7611 L. J 12.708 11 352 Total students Total Blue Skies support hours 16.147 Total sessions delivered Y•th Blue skiespro￿o￿rnes 07 ATrnual Report and Financial Statements forthe year erKJed 31 AiJgUSt 2023 01 Active JET counties 22-23 03 07 10 01 Anglesey 02 Carnbridgeshire 03 Conwy 04 Cornwall 05 Denbigh5hire 06 Dorset 13 02 12 07 G￿Ynedd 08 Hampshire 09 Lincolnshire 10 Norfolk 11 Oxfordshire 12 Suffolk 13 West Midlands 14 Wihshire 14 In 2023 in England, over 2 million I think there should be JETS all around the UK just to SUPPOrt students that need it. George, Blue Skie5 3 student. 2023 children and young people were eligible for free school meals, representing 23.8% of all pupils, up from 22.5% in 2022 Departmenr for EdLJcation IDfEI Annual School Cènsus, June 2023 08 Our impact We track students, progress throughout their JET journey. This open feedback loop with students and teachers allows us to monitor the impact and effectiveness of our support, and proactively improve and strengthen our programme design year-on-year. GG JET has taught me about different job opportunities that there are that I hadn't even considered for my future, and it s just been a great experience. What we measure7 We collect quantitative and qualitative impact data from our studenrs and teachers based on JET￿ 51x core competenoes". ommunication + Conlidence + Leadership + Resilience Setting and achieving goals Working with others We also collect qualitative data through Student and teacher questionnaires and feedback form5 in order to monitor.. + Student enrolrnent criteria leg Free Schotsl Meals) *- Changes In students,: attitude to learning academic attainment behaviour school attendant Ollie, Blue Skies 3 student, 2023 The Jon Eggin9 Tru 2022 - 2023 Impact Data 590/0 of JET Students Improv•d thelr attltud• to18arnlno of JET stud•Nts Improved th•Sr GG Since stsrting the JET prograrnm•, I think my confidence has grown a lot. For our graduation we had to give a speech, and if you told me that I would givo a speech to 40 plus people when I started this programme, I would not have believ￿ you. I walked into it on the day not experting myself to do it. but I didl I'm still amazèd at myself, I can't believe I did that. I'm so glad I stuck with the JET programme as it s amazing. To be able to visit different companies was just an amazing opportunity. It helped me with my future as I managed to get some work experience where I managed to talk to customers a lot. which I would not have been abl8 to do without the JET programme. Shant. 16 Blue Skies graduatè, 2023 Reported Improvements Teachers. assessment Student self- assessment Communlcation 66% Confidence 86% 65% Leadership 63% GG Many ofthe young people JET supports lack confidence or are underachievtng due to disadvantsge or inequalty. JET'$ progr4mmes are highty effertive at empowering yOUIIg people to rmngage with education and develop the sktll$. $elf-belief and restlience needed to athieve positive training And Career 4wt¢om85. Resilience 86% 65% Setting and achieving goals nPKL JETEY•kntw ROPOrt￿?￿ 65% Working with others Only 470/0 of pupils eligible for Free School Meals achieve a stsndard pass in both English and Maths GCSE. compared to 75% of pupils not eligible. 85% 68% 10 Driving Impact In January 2023, we began our 'Driving Impact, journey with our partners at Impetus- a series of face-to-face workshops, in-depth methodological analysis and evaluation. and long-term strategic planning. to ensure we are not only able to prove impact for our students, but actively improve it. This work was also undertaken to ensure Blue Skies remains a national leader in lon9-term experiential learning support, and that we continue to innovate and learn from our peers and industry benchmarks in order to deliver the strongest possible offer for our students, and measure impact against validated scales and consistent academic waypoints. Since embarking on our Driving Impactjourney, we have implemented a number of key strategic decisions to ensure we are reaching the right young people, with the right interventions, at the right time. The rlght young people The rlght Interv•ntlons As a result of external research into best practice. consultation with schools and young people. and 12 years of our own experience. and by tskin9 the best ingredients from both our three.year Blue Skies programme and our shorter 8lue Skie5 Inspire Packages. we have implemented the followin9 key prograrnmatic changes.. + A commitment to deliver a single Intensive Blue Skies prograrnme and phase out our shorter Blue Skies Inspire Packages + Amendments to programme structUTe encourage congstency in frequency and len9th of sessions Arnendrnents to progTamme framework that combine in- school se￿onS led by our youth prtsgrammes team with out-of- school visits to employers, further and higher education institutes. Extension to indude a dedicated evaluation sesson The rlght tlme Since our foundation in 2012, we have alway5 focussed on young petsple lacing adversity. Following Driving Impatt we have implemented the following key changes to ensure we are able to hone our targeting to those who need us most and who we are best- p13ced to benefit from our support.. + We have refined our enTolment criteria to ensure that from Sept 23 minimum 0170% of all Blue Skies students are eligible for free school meals Driving Impatt has given us the opportunity to scrutinise the optimum age for Blue Skies impact. We hève now committed to focusing Blue Skies exclu51vely on K53 and KS4 students. aged 12-15. because this is when they are making key decision5 about their future5 and the risk of disen9agement with education would have a most profound negative iTDpact. Key changes implemented.. + Withdrawal from primary schools and a targeted approach to acces51ng the right secondary schools + Ail Students enrolled on Blue Skie5 programmes in year 8 We have developed and implemented a school selection tool to allow us to identify and reach 5choo15 In the area5 of greatest need. measured against both Index of Multiple Deprivation, and a150 the availability of Similar local programmes and outreach opportunities GG I really do think that JET has helped me and has broadened my horizon5 lor the future. Dyllan, Blue Skies 3 student, 2023 The Jon Egging Trust 11 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Space to Learn Following our JET Space Forum at the Wellcome Collection in London in 2021, (hosted by our CEO Dr Emma Egging and our Patrons Prof Brian Cox and Air Marshal Harv Smythl, and our JET to Space Camp in the summer of 2022. JET has made considerable progress in broadenin9 access to the space sector for our students. From the outset, our key motivation has been to shape a collaborative sector-wide approach to inspiring and upskilling young people frorr disadvanta9ed backgrounds. enablin9 them to access opportunities linked to space. Our vision has been Shared and backed by many ol the space organisation$ we have inteTaeted with *nce 2021 and our JET space network continues to grow monthly. In June 2023, JET was narned a5 one of four partners in the UKSA¥ new £4.3m Space to Learn initiative. aimed at boosting initiatives that inspire young people about space and improve access to STEM careers and learning. The other project partners were named as National Space Academy. Association for Science Discovery Centres, and the European Spaee Education ènd Resouree Office. JET'S inclusion In Space to Learn, and the fundit)g ènd advocacy this has unlocked, has allowed JET to forge ahead at pace with our ambition to allow every JET student acce5S to space opportunities as part of their Blue Skie5 journey. FY23 space highlights: Developing nesy space-linked 81ue Skies sesyons with the National Space Academy Attending roundtable di$¢u5$ion5 at 10 Downin9 st￿et about harne55ing the inspirational power of 5p•¢e ftsr the next generation ngaging new and existing aerospace partners to widen access to space workplaces, includin9 Northrop Grumman, RAL Space, BAE Systems, QinetiQ, Royal Air Force Space Command, Rolls Royce, Spaceport Comwall, PA Foundation, Harwell Space Cluster, and the Civil Aviation Authority GG Before starting the se55ions. 1 would never have thought about joining different clubs or going on lots of trips but after the 5ession5, 1 did just that! I was also lucky enough to go to Space Camp in the US The one problern for me was that I had a fear of Ilying and I had never b•en on a residential or Stayed away from home, but thankfully with the skills I learnt from the JET sessions, I was able to overcome my lears and the challenges thrown at me and have one of the best week5 of my lifel I met astronauts, rocket scientists and got to experience all the different simulators. My dream job is to become an aerospace engineer at NASA and after this I think I might get there. Thank you JET! Harry. 15 Blue Skie5 graduate, 2023 FY23 space delivery: 300 students= Took part in 5p8¢e-related Inspirational Outreach session5, delivered by JET alongside the National Spate Centre, the PA Foundation and RAF Museum Cosford >+- 197 students: On Blue Skies Inspire Programmes took part in rocket design challenges led by the JEr tearn. with compressed air launchers designed and built by volunteers at BAE Systems + 63 s￿dentS.. On three-year Blue Skies progratnme took part in space-linked workplace visits. including to Harwell Space Cluster and RAL Space *- 4 students: Attended Space Camp USA, in Huntsville. Alabama for a once-in-a-lifetime space experience 4 students: Selected to attend STAAR Carnp (Summer fime Advanced Aer05pace Residency) at RAF C05ford The Jon Egging Trust 12 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Partners & Volunteers The lifeblood of JET is its partnership model. We worked with 56 military and civilian partners to deliver our programmes during the reporting period., Blue Skies would not be possible without this network of inspiring STEM workplaces and professionals who broaden horizons, ignite curiosity and ambition. and allow our students to think differently about their futures. This year. professional role models volunteered 2,207 hours of their time to support and inspire our students. Seeing the transformation in the Students who by the end of the year are willing to stand up at their public graduations and speak about what they've been able to achieve, and knowin9 you've played even the smallest part in their journey, is massively rewarding. Sgt Carla Fishburn, JET volunteer, RAF Coningsby, 2023 Oxfordshire students visit RAL Space at the Harwell space cluster. GG In November 22, a tohort ol Blue Skies level one studehts took part in a workplace visit to RAL Spaee at th• Hatrwtrll Space Cluster in Oxfordshire. Students w*r* 9iven a fantastie insi9ht into the workin9 woild of space and 9i¥•n the opportunity to 9et hand>on with som• spactrthtrmed teamwork, leadership and communication challonges. Our tr8Sne8 scS•ntlsts b89an the day drttsed for th• part In clean-room suits and were tasked with workin9 in t•ams to design and build a planetary rover. After presentlll9 thoir amazing ereations, the students were able to try on real astronaut suits kJ•for• finishing th• day with a tour of th• RAL Spaee site to leam more about the cuirent space and satellite projects which affect their day-ttrday life on earth. GG We were really lucky to have one of th• RAL Sp•¢e s¢ient15t5 joinin9 our ses51011. talking about his own challenging background to demonstrate what 5 achievable wrth perseverance. JET Regional Manager, Faye Murray GG I wanted to do something that would give me a sense of reward outside work,. volunteering for JET gives a very different level of reward. Cpl Oliver Hawkins, JET volunteer, RAF Coningsby. 2023 JET'S year in socials Fundraising It has been an exceptionally busy year for fundraising at JET, and especially pleasing to report 23% income growth this year, building on our 57% growth in FY22. 1 Sept 14 Sept 29 Sept JETfidp 2022 where over 150 ridèr5tODk tothè roèds of Lincs co￿brating 10 years of Unwersity Air Swadron support JET Selected from over 180 UK tharit￿5 to join the Impetus portlolH> The second half of Ff22 saw JET consolidate our fundraising function under a single directorate. where previously responsibility lor different fundraising streams had sat across the Executive Team and Area Directors. This realignment has allowed JET to create more tohesion. prtsce$5 and stand8rdisation across our fundraising activities and take a longer-terrn strate9ic view ol growth for each funding stream, with the benefit of ihis new approach being felt across the charity in FY23. Team growth In June 2022, JET recruited a Trusts and Grants Officer. allowing us to build significant momentum in this area in FY23 when Trusts and Grants accounted for 54% of income. It should be not however ihai a Significant Ponion of this income came from new government contracts within the aviation and space sector, and not from iraditional trusts and foundations funders, and this income diversity ha5 helped to underpin JET'5 turrent financial st￿rn9th. In April 2023 we also recruited a Corporate Partnerships Coordinator to help JET standardi and grow our national parrnership model, and support the ex15ting team to steward partners in consistently excellent way. and develop a strategic pipeline ol potential new corporate funders and lue Skies delivery partners. Throughout the reporting period. JET has worked hard to raise our national profile. our reach and our voice, especially in and around the space sector. 140rt 4th Nov 10th Nov knèd Forces Covenant Sl9ni wrf¢h Chid of Air Stalf. Sir Mikq 9$ton. at RAF Cranwdl JET Annubl nner- RAF Conit)9$by JET nominatéd •$ Charity ol the Yearfor Bremont tours GG 92% teachers bèliève SEL Il,,ji Illl 7th D•c JET ¢dL41>orat in Impetus SEL rwrt is vital to ¢la55room attainmont JET d•liver$ first se$￿an in W Mid5 n¢6 Covid 17thJ 8th F•b 12th May JETRIDÈ FINISH JET'Driwro lry)att' workshops Imp@tu$ Northrop Grumman rènths major J partnèrship Inaugural VIP Charity Shtstst funds new Oxon Youth Liaison OffKer 7th June JET named as UKSA spa￿ to Leam partndr 21st June RAF Pass the Burket Challenge rèi*S vital funding 11thAug Dr Emma Egging nd JET graduate Josh Dale spèak tNo10 r¢>undtabl8 14 Objectives & activities for the public benefit The trustees have paid due regard to guidance issued by the Charity Commission in ensuring that the charity s activities are for public benefit. The rnain objective of the charity 15 to art as a resource for young people living in England and Wales by providing advice and assistance, and organising programrnes ol physical, educational and other activitie5 as rnean5 01: Advancin9 in lrfe and helpin9 young people by developing their skills, capètitie$ ènd tapabilrfÈies io enable ihem to participète in ciely as independent, mature nd resptsnsible individuals. vancin9 education. Relieving unernploymenl. Providing recreational and leisure lime activities in the interests of social welfare for people living in England and Wales who have need by reason of their youth. age. infirrnity or disability. poverty or social 3nd economic Circumstan￿$. with a view to improving their conditions of life. ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Financial Review Income Income for the 12 months to 31 August 2023 reached £898.985 (2022.. £730,638). year-on- year growth of 23%. Income generation continued the strong trend evidenced in the prior year, and carefulness with spend translated into a second surplus in succession and an increase to total reserves. her Trust & Grants- Restricted Other Trust & Grants- Restricted 34% Trust & GraTrts- Unrestricted . Corporat• donatioThs Corporate donations 25% 51% NW 2022123 Getwal donations 2021122 >haid Évents 15% Trust & Grants- Unrestricted Gthèral donation5 8 9ift aid Events HNW Trust and grants represent the large$t growth 3$ a percentage of total income. climbing 37% over the period. Grants from the UK Space Agency and Impetus, the Private Equity Foundation reinforced our strategy to target long-term multi-year funding to ensure sustainable expansion. Evenis income realised a Irathional decline.. however this is primarily due to a space forum event being held in ihe prior year which was not repeated. Once that event is removed. on a l¢ke-for-Iike basis. events Income has grown by 67% on the prior year, Corporate donations declined on the previous year, albeit If Is Importanr to note rhat an exceptional one-off donation was received in FY22 and once that donation is removed, coTrorate incorne ha5 gradually clirnbed year-on-year. General donations have suffered because of the co$t-of-livin9 crisis. 16 ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Expenditure Total costs lor the 12 months to 31 August 2023 were £865.73712022.. £704,008). The 23% Increase in costs rellects the phasin*in of roles put on hold during the pandemic. Spend 011o¢atlon 2022123 2Y23 21122 70% 50% 40% 30% 20% 10% 0% Fuhdiliwhy ¢i¥it Tht proportitrn ol spend allocated to tharitable aetivities has inertas to 73%, this encapsulaies our programmes delivery and a proportion ol Head Office. The proportion ol total costs Spent on fundraisin9 reduced to 27%, in line with JET5 Strategy of ensuring that It maximises its Spend on tharitable activities. The lundraisin9 team wa5 Strengthened with th• addition ol a Corporate Partnership Coordinaior appointed haI￿aY throLJgh the year. Spend on events Included the JET Annual Dinner, rhe JET VIP Charity Shoot and the JETRide swrtive. Challenge event$ saw an uptick on previous Yea￿ as the events calendar 9radually retumed to health after the pandernic. Reserves policy The Staternent ol Financial Activities shows total funds of 1420,632 12022.. 387.3841. £38,86612022.. £2,182) are ￿$tritted funds to be expended on Specific purposes. The balance of £381.76612022.. £385,202) is Un￿strIcted, to be used to support the trust's chantable Total reserves have grown over the penod because ol the healthy surplus achieved and the unrestricted ￿eNe$ remain safely within the reserrfes policy of 3-6 rnonth5 operating Costs. The trustee5 have viewed the reserves policy and a9￿d io Maintain this level as an appropriate threshold for free reserves. Going concern The trustees have con51dered the effect of the cost-of-living situation and other external risks and are conlident that the tharity 15 Strongly placed to support youn9 people and adapt to school needs. AJI Income 5trearns. with the exception of general donations. are demonstrating healthy grovrth. Trustees have reviewed cash flow forecasts to end of August 2025, the cash outlay to August 2023 was si9nificant compared with the previou5 year due to an increase lo debtor balances lor funding agreements paid In arrears, alongside an Increase to prepaid fundraising events Trustees are assured that the charity ha5 aclequate TesouTces to continue as a going concem for the forÈseÈablÈ future. ADDual Report and Financial Statements forthe year er¥Jed 31 Augu* 2023 Governance, structure and management Governance board The charity was formed In September 2011 and Incorporated on 24th February 2014. The charity is Cotnpany limited by guarantee whose rnembets a￿ the trustees. The liability of each member Is limited to £1 In the event of the charity winding up. The board has authority to appoint by majority decision any new trustees. All new appointments are subject to our Safer recruitment ptslicy and a comprehensive induction encompassin9 trainin9 and meeting key mernbers of the JET team to under5tsnd the various work areas. Trustees are also encouraged to attend sessions or graduations to get first-hand experience of delivery and irnpact. The names of the trustees who seNed during the year and up to the date of approval of the financial 5tstements aTe'. Mr R J Pebèrdy (Chairl Mrs O Egging Mr J Wiles Ms S Porteous Ms S Spr•id M5 Z Melarkey Mr J Fyleman (appointed Ort 231 The impart on the education environment of a si2eable economic downturn is scenario planned - we learned loi from the Covid crisis about htsw to reach our young people and SLJPPOrt schools despite the greatest irnpediment of lockdowns- we are well-equipped to react and tailor our delivery in response. It 15 also recognised that sorne Schools or partners may become less able tts accommodate JET programmes or divert attention to other priorities. JET is rnitigating that risk through strerigthenirig our impact methodology and mess3ging, whilst elevating our voice in the social and emotional learning space to evidente the critical importance of tsur work to transform youn9 lives. Whilst Covid-19 rernain5 present in our environment, most acutely through its enduring effect on the young people the charity exists to support, it Is thankfully havin9 minimal Influence on programmes delivery and ccess to partner sites. However, the risk ol secondary outbreak5 and lockdown5 15 continually rnonitored, and contingencies are prepared for that eventuality both in terms of reaching young people and financial irnpact. A$ always. we continually wotk to deepen communications across JET'S community- staff, volunteers, partners and young people- reaching out to support their wellbeing and demonstrating their value In our future pathway. Risk mèna9ement is also supported by the oversight of two further external committees". 11 education 21 fundraising & comrnunication5. Comrnittee5 meet quarterly. in advance ol the trustee board, to advise and critique acriviries wirhin their relevant specialism and alert the leadership team and trustees tsf potential risks. Financial performance is tracked via monthly management actounts and a budget reforecast at the half year. Cost control is tight, with cashflow monitored closely. JET has a comprehensive insurance policy, reviewed annually under the guidance of its insurance broker, and currently held with Berkeley Insurance Group Staff appolntments Staff headcount increased to 24 as ai 31 Au9USt 2023 12021.. headcount was 191 as appointments paused during the pandemic Continued to be filled. The￿ were no changes in senior peTsonnel. Structure and management reporting The tru5tee5 are ultimately responsible for the policies. activities and assets ol the charity They meet to review the development of the charity and make any important decision5. When necessary, the trustees seek advice and support from the charity's professional advisers including solicitors and accountants. The day-to4ay management of the charity'5 activities, and the implementation of policies, is dele9ated to the senior leadership team. Risk management The trustees h8ve a duty to identify and review the Ti5ks to which the charity is exposed and to ensu appropriate controls are in place to provide ￿8$Onable aS5urance against fraud and error. Key risks and uncertainties The troubled economic eDviroDment and c(Ist-of_living tragedy is perpetually %Yatched and weighed into decision making. This is reflected through diligent cost control and prudent foreca5ting'. budget5 are prepaTed on a conserlative basis to ensure spend commitments are COTnfort3bly met if Income generation slow5: recruitment for roles paused durin9 the pandemic are bein9 appointed through a phased approach when funding 5UPPOrts.' and inflation at current high levels IS factored into materi81 bids, project plans and budgetin9 to ensure price growth is not underestimated. The Jon Egging Trust 18 ':/Aai Disclosure of information to auditors Each of the trustees ha5 confirmed that there is no information of which they are aware whith is relevant to the audit, but of whith the auditor is unaware. They have furthÈr confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor Is aware of such Inforrnation. Approved on beh31f of the Board of Trustees by". Mr R Peberdy. Chair of Trustees TrusteÈ Dated.. 01 May 2024 JonEgging Trust Help￿ >￿￿hy>C0p1e•th The Jon Egging Trust 19 ## **Trustees** Mrs D Egging Mr J Wiles Mr R J Peberdy Ms S Porteous Ms S Spread Ms Z Melarkey Charity number (England and Wales) ## 1156265 Charity number (Scotland) SC048666 ## **Company number** 08908969 **Registered office** Acre House 11-15 William Road London NW1 3ER United Kingdom ## **Auditor** HW Fisher LLP Acre House 11-15 William Road London NW1 3ER United Kingdom ## **Bankers** Lloyds Bank plc 73 The Parade Leamington Spa Warwickshire CV32 4BB The trustees, who are also the directors of The Jon Egging Trust 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; 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, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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. ## **Opinion** We have audited the financial statements of The Jon Egging Trust (the ‘charity’) for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). - In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion: - adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. As part of our planning process: - We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are most susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The charity did not inform us of any known, suspected or alleged fraud. - We obtained an understanding of the legal and regulatory frameworks applicable to the charity. We determined that the following were most relevant: the Charity SORP, FRS 102, Companies Act 2006, Charities Act 2011 and Employment Law. We considered the incentives and opportunities that exist in the charity, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. - Using our knowledge of the charity, together with the discussions held with the charity at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. The key procedures we undertook to detect irregularities including fraud during the course of the audit included: - Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. - Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. - Reviewing and challenging the assumptions and judgements used by management, and the conclusion that there are no significant accounting estimates. Assessing the extent of compliance, or lack of, with the relevant laws and regulations. Testing key income lines, in particular cut-off, for evidence of management bias. Assessing the validity of the classification of income, expenditure, assets and liabilities between unrestricted, and restricted funds. Obtaining third-party confirmation of material bank balances. Documenting and verifying all significant related party balances and transactions. Reviewing documentation such as the charity board minutes, for discussions of irregularities including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body, and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## **Andrew Rich (Senior Statutory Auditor)** ## **for and on behalf of HW Fisher LLP** Chartered Accountants Statutory Auditor Acre House 11-15 William Road London NW1 3ER United Kingdom |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
548,955
343,922
Other trading activities
**4**
1,101
-
Investments
**5**
5,007
-
**Total income**
555,063
343,922
**Expenditure on:**
Raising funds
**6**
230,301
6,129
Charitable activities
**7**
328,198
301,109
**Total resources expended**
558,499
307,238
**Net (expenditure)/income for the**
**year/**
**Net movement in funds**
(3,436)
36,684
Fund balances at 1
September 2022
385,202
2,182
**Fund balances at 31 August**
**2023**
381,766
38,866|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
**£**
**£**
892,877
580,403
142,788
1,101
6,344
-
5,007
1,103
-
898,985
587,850
142,788
236,430
128,528
70,665
629,307
402,199
102,616
865,737
530,727
173,281
33,248
57,123
(30,493)
387,384
328,079
32,675
420,632
385,202
2,182|Total
2022
**£**
723,191
6,344
1,103| |---|---|---| |||730,638| |||199,193| |||504,815| |||704,008| |||26,630
360,754| |||387,384| 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. |**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**15**
Unrestricted funds|**2023**
**£**
2,070
79,217
366,128
447,415
(33,975)|**2022**
**£**
**£**
7,192
-
15,934
483,516
499,450
(116,657)
413,440
420,632
38,866
381,766
420,632|**£**
4,591
382,793| |---|---|---|---| ||||387,384| ||||2,182
385,202| ||||387,384| The financial statements were approved by the Trustees on ......................... .............................. Mr R J Peberdy **Trustee** **Company Registration No. 08908969 08908969** |**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**19**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2023**
**£**
**£**
(116,842)
(5,553)
5,007
(546)
-
(117,388)
483,516
366,128|**2022**
**£**
(3,362)
1,103|**£**
(16,787)
(2,259)
-| |---|---|---|---| ||||(19,046)
502,562| ||||483,516| ## **1 Accounting policies** ## **Charity information** The Jon Egging Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, NW1 3ER, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS102"), the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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). The charity is a Public Benefit Entity as defined by FRS 102. 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** ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Incoming resources** 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. ## **1.5 Resources expended** Expenditure is recognised on an accruals basis, inclusive of value added tax. Expenses included in costs of generating funds are the charitable company's costs of fundraising and publicity. Expenses relating to charitable activities relate to expenses in relation to the youth programmes. Support costs are also included within this category of expenditure these include staff costs and other office expenditure. ## **1 Accounting policies** **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases: Computer Equipment Over 3 years straight line Fixtures and Fittings Over 3 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Stocks** ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**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 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. **(Continued)** ## **1 Accounting policies** ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **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. The trustees believe that there were no critical accounting estimates or judgements relating to this year. ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
239,639
40,000
Grants
183,500
303,922
Event income
125,816
-
548,955
343,922|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
279,639
381,387
89,028
487,422
71,400
53,760
125,816
127,616
-
892,877
580,403
142,788|Total
2022
£
470,415
125,160
127,616| |---|---|---| |||723,191| - 23 - ## **4 Other trading activities** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2023**|2022| ||**£**|£| |Other Fundraising|1,082|4,200| |Sale of merchandise|19|2,144| |Other trading activities|1,101|6,344| ## **5 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2023**|2022| ||**£**|£| |Interest receivable|5,007|1,103| ## **6 Raising funds** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Fundraising and publicity
Other fundraising costs
85,237
6,129
Staff costs
144,325
-
Depreciation and impairment
739
-
Fundraising and publicity
230,301
6,129|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
91,366
25,352
70,665
144,325
102,937
-
739
239
-
236,430
128,528
70,665|Total
2022
£
96,017
102,937
239| |---|---|---| |||199,193| ## **7 Charitable activities** |Staff costs
Depreciation and impairment
Youth Programmes
Share of support costs (see note 8)
Share of governance costs (see note 8)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2023**
**£**
400,760
1,991
98,219
500,970
16,876
111,461
629,307
328,198
301,109
629,307|2022
£
305,839
2,982
81,002| |---|---|---| |||389,823
16,686
98,306| |||504,815| |||402,199
102,616| |||504,815| |**8**
**Support costs**
**Support costs**
**Governance**
**costs**
**£**
**£**
Staff costs
13,774
68,869
Depreciation
37
185
Sundries
884
354
Travelling and subsistence
757
-
IT expenses
985
-
Consulting
439
2,193
Trustees expenses
-
-
Audit fees
-
14,855
Accountancy fees
-
6,161
Other
-
18,844
16,876
111,461
Analysed between
Charitable activities
16,876
111,461|**2023**
Support costs
Governance
costs
**£**
£
£
82,643
11,656
58,278
222
26
130
1,238
1,922
74
757
612
-
985
996
-
2,632
1,474
7,370
-
-
19
14,855
-
12,827
6,161
-
2,264
18,844
-
17,344
128,337
16,686
98,306
128,337
16,686
98,306|2022
£
69,934
156
1,996
612
996
8,844
19
12,827
2,264
17,344| |---|---|---| |||114,992| |||114,992| Governance costs includes payments to the auditors of £14,855 (2022: £12,827) for audit fees and £6,161 (2022: £2,264) for other accountancy services. ## **9 Trustees** None of the trustees (including any persons connected with them) received remuneration or benefits from the charity during the year. Trustees were reimbursed £118 (2022: £5) for expenses incurred in the performance of their duties during the year. ## **10 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
24
**2023**
**£**
563,566
44,618
19,544
627,728|**2022**
**Number**
19| |---|---|---| |||**2022**
**£**
435,415
32,065
11,230| |||478,710| ## **10 Employees** **(Continued)** The key management personnel of the charity comprise the trustees, CEO, Director of Operations and Area Directors. The total employee benefits of the key management personnel of the charity were £232,980 (2022: £187,231). There were no employees whose annual remuneration was £60,000 or more. ## **11 Tangible fixed assets** |**Computer**
**Equipment**
**Fixtures and**
**Fittings**
**£**
**£**
**Cost**
At 1 September 2022
21,213
204
Additions
5,553
-
Disposals
(4,197)
(102)
At 31 August 2023
22,569
102
**Depreciation and impairment**
At 1 September 2022
16,642
184
Depreciation charged in the year
2,932
20
Eliminated in respect of disposals
(4,197)
(102)
At 31 August 2023
15,377
102
**Carrying amount**
At 31 August 2023
7,192
-
At 31 August 2022
4,571
20
**12**
**Stocks**
**2023**
**£**
Finished goods and goods for resale
2,070
**13**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Trade debtors
21,923
Prepayments and accrued income
57,294
79,217|**Total**
**£**
21,417
5,553
(4,299)| |---|---| ||22,671| ||16,826
2,952
(4,299)| ||15,479| ||7,192| ||4,591| ||**2022**
**£**
-| ||**2022**
**£**
-
15,934| ||15,934| ## **14 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
1,188
2,700
30,087
33,975|**2022**
**£**
6,203
1,801
108,653| |||116,657| Deferred income brought forward was £63,711 of which £60,007 was released during the year, resulting in carried forward deferred income of £3,704 as at the year end. £3,607 is deferred as LIBOR 2 income was received to train and develop its employees and military volunteers in the next year, and £537 is deferred due to unspent restricted funding at year end from UKSA. ## **15 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Movement in funds**|**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**|| |---|---|---|---|---|---|---|---|---| ||**Balance at**|**Incoming**||**Resources**|**Balance at**|**Incoming**|**Resources**|**Balance at**| ||**1 September**|**resources**||**expended**|**1 September**|**resources**|**expended**|**31 August**| ||**2021**||||**2022**|||**2023**| ||**£**||**£**|**£**|**£**|**£**|**£**|**£**| |LIBOR 1|11,985||-|(10,666)|1,319|-|(1,319)|-| |RAF Museum|-||-|-|-|5,895|(5,895)|-| |Airbus|-||10,000|(10,000)|-|-|-|-| |Northrop||||||||| |Grumman|-||40,000|(40,000)|-|-|-|-| |UKSA|-||-|-|-|118,401|(118,401)|-| |STAR Trust|-||5,000|(5,000)|-|-|-|-| |BURBO Bank|-||4,496|(3,633)|863|467|(1,330)|-| |Eloise & Katy||||||||| |Memorial Fund|-||-|-|-|3,500|(3,500)|-| |Conwy Valley||||||||| |Railway|-||-|-|-|923|(923)|-| |Valentine Trust|-||-|-|-|20,000|(20,000)|-| |Groundwork|-||-|-|-|1,000|(1,000)|-| |NightSky||||||||| |Foundation|-||-|-|-|8,866|-|8,866| |Tesco Bags of||||||||| |Help|690||-|(690)|-|-|-|-| |LIBOR 2|-||44,264|(44,264)|-|54,871|(54,871)|-| |Dudgeon|-||-|-|-|10,000|-|10,000| |Qinetiq|20,000||10,000|(30,000)|-|40,000|(20,000)|20,000| |CAA Yr1|-||-|-|-|50,000|(50,000)|-| |CAA Yr2|-||-|-|-|25,000|(25,000)|-| |Gwendoline &||||||||| |Margaret Charity|-||-|-|-|5,000|(5,000)|-| |Virgin Unite|||15,000|(15,000)|-|-|-|-| |Cornwall Council|||5,000|(5,000)|-|-|-|-| |Virgin Orbit|-||9,028|(9,028)|-|-|-|-| ||32,675|142,788||(173,281)|2,182|343,923|(307,239)|38,866| ## **15 Restricted funds** **(Continued)** ## **2022-23** LIBOR - to expand and develop the Trusts activities and to train and develop its employees and military volunteers. BURBO Bank – restricted to delivery of Blue Skies Inspire Packages at Rhyl and Prestatyn between February 22 and December 22. Qinetiq - to fund and develop programmes in Wiltshire and Dorset. Royal Air Force Museum – to support the appointment of a Regional Manager role in West Midlands to work with the Royal Air Force Museum. UK Space Agency - Expansion of delivery of core elements of the existing successful UK National Space Academy (NSA) and Jon Egging Trust (JET) programmes, to be specifically targeted at disadvantaged schools and students, funded by UK Space Agency through its Championing Space value proposition programme. Civil Aviation Authority – Part funding for programmes and events in Lincolnshire, Hampshire, Wiltshire, Oxfordshire, East Anglia and North Wales. Eloise & Katy Memorial Fund – to support 1 student on the Blue Skies Programme in Oxfordshire. TfW and Conway Valley & North West Wales Coast Community Rail Partnership – to support the activity costs for the Blue Skies programme in North Wales. The Valentine Charitable Trust – to part fund programmes in Dorset and West Hampshire. ## **2021-22** LIBOR- to expand and develop the Trusts activities and to train and develop its employees and military volunteers. Virgin Unite – restricted to supporting the delivery of the Space Camp 2022 in Cornwall. Cornwall Council – restricted to supporting the delivery of the Space Camp 2022 in Cornwall. Virgin Orbit – restricted to supporting the delivery of the Space Camp 2022 in Cornwall. STAR Trust – restricted to delivery of BSIPS in the Lincolnshire region for the academic and JET financial year 21-22. BURBO Bank – restricted to delivery of Blue Skies Inspire Packages at Rhyl and Prestatyn between February 22 and December 22. Qinetiq - to support the appointment of a Regional Manager for Wiltshire and Dorset to develop Inspirational Outreach programmes in Wiltshire and further programmes in West Dorset. Airbus – restricted to support for the Space Forum Event. Qinetiq – restricted to support for the Space Forum Event. Northop Grumman – restricted to support for the Space Forum Event. ## **16 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| |**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
August 2023 are
represented by:
Tangible assets
7,192
-
Current assets/(liabilities)
374,574
38,866
381,766
38,866|**Total**
Unrestricted
funds
Restricted
funds
**2023**
2022
2022
**£**
£
£
7,192
4,591
-
413,440
380,611
2,182
420,632
385,202
2,182|Total
2022
£
4,591
382,793| |||387,384| ## **17 Related party transactions** No related party transactions in the year, other than those disclosed in note 10. ## **18 Volunteers** The Jon Egging Trust is supported by a large network of invaluable volunteers. For the year ended 31 August 2023, The Jon Egging Trust worked with 449 volunteers donating 3,100 hours of their time helping to deliver our Blue Skies and Inspirational Outreach Youth Programmes, guiding and shaping good governance and assisting with fundraising activities. |**19**
**Cash generated from operations**
**2023**
**£**
Surplus for the year
33,248
Adjustments for:
Investment income recognised in statement of financial activities
(5,007)
Depreciation and impairment of tangible fixed assets
2,952
Movements in working capital:
(Increase) in stocks
(2,070)
(Increase) in debtors
(63,283)
(Decrease) in creditors
(82,682)
**Cash absorbed by operations**
(116,842)
20
**Analysis of changes in net funds**
The charity had no debt during the year.|**2022**
**£**
26,630
(1,103)
3,377
-
(8,597)
(37,094)| |---|---| ||(16,787)| |||