Annual Report and Financial Statements for the year ended 31 August 2024
**Annual Report and Financial Statements** ie) **Year ended 31 August 2024**
Charity number England and Wales 1156265, Charity number Scotland SC048666, Company number 08908969
Jon Egging Trust **01**
## **Legal and administrative information**
## **TRUSTEES**
Dr Richard Peberdy, Chair
Dawn Egging, Trustee
Jamie Fyleman, Trustee _(appointed 10 October 2023)_
Elizabeth Sharon Gillott, Trustee _(appointed 29 January 2025)_
Peter James Lee, Trustee _(appointed 31 January 2024)_
Zoe Anne Miranda Melarkey, Trustee
Samantha Jacqueline Porteous, Trustee Sophie Anne Spread, Trustee
John Vinney, Trustee _(appointed 29 January 2025)_
John Wiles, Trustee
## **KEY LEADERSHIP**
Dr Emma Egging, Chief Executive Officer _(resigned 29 November 2024)_
Dr Alex Brown, Chief Executive Officer _(appointed 18 November 2024)_
Laura Carey, Director of Impact & Engagement
Fiona Collins, Director of Communications & Fundraising
Angela James, Director of Operations & Finance
Charity number England and Wales 1156265 Charity number Scotland SC048666 Company number 08908969
Registered office: 1st Floor, Arthur Stanley House, 40-50 Tottenham Street, London, W1T 4RN Auditor: Goodman Jones, 1st Floor, Arthur Stanley House, 40-50 Tottenham Street, London, W1T 4RN Bankers: Lloyds Bank plc 73, The Parade, Leamington Spa, Warwickshire, CV32 4BB
## **04** Our mission
- **06** Welcome, Chair of Trustees
- **07** Introduction, CEO
- **08** 23-24 in numbers
- **09** Active JET counties
- **10** Our impact
- **11** 23-24 impact data
- **12** Driving impact
- **13** Space to Learn
- **14** Partners & volunteers
- **15** Fundraising
- **16** Objectives & activities for public benefit
- **17** Financial review
- **19** Governance, structure and management
- **21** Financial statements
- **23** Independent auditor’s report
- **26** Statement of financial activities
- **27** Balance sheet
- **28** Statement of cash flows
##
- **29** Notes to the financial statements
The Trustees present their Annual Report together with the audited financial statements of the charity for the year 1 September 2023 to 31 August 2024. The Annual Report serves the purposes of both a Trustees’ Report and a Directors’ Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
Jon Egging Trust **03**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Our mission**
The Jon Egging Trust (JET) supports young people who are facing adversity and come from disadvantaged backgrounds to develop aspirations and social and emotional skills, re-engage with learning, improve their grades and maximise their employment potential.
Our experiential learning programmes provide long-term support and access to extraordinary workplaces and STEM environments and the inspirational role models within them.
## **Who we support**
## **Young people ages 12 - 15**
- **Free school meals (>70% students)**
- **Living in areas of deprivation (IMD 1-3) Living in care**
- **Young carers**
- **Experience of ACEs (adverse childhood experiences)**
- **Disengaging at school / lacking in social and emotional skills**
## **Blue Skies framework:**
**Year 1: Teamwork**
**Year 2: Leadership**
**Year 3: Employability**
## **Each year:**
**12 Blue Skies sessions**
**5 in-school sessions**
**5 workplace visits**
**Graduation ceremony**
**Review and evaluation session**
## **Outcomes:**
- **Social and emotional skills**
- **Aspirations**
- **Academic attainment**
- **School engagement**
- **Employability skills**
- **Social mobility**
- **Inequality**
**- Likelihood of NEET**
Jon Egging Trust **04**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Blue Skies student journey**
**Grace* lives in a low-income household with a parent and three younger siblings. She is eligible for Free School Meals.**
**Her family situation is complex. She has witnessed abuse, has a grandparent in prison and a parent who is not allowed access.**
**Teachers note she has not formed any strong friendships, struggles to focus and is disruptive in class.**
## **Grace is recommended for Blue Skies by her teachers**
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Blue • Grace struggles to focus or interact. Her teacher removes her from her first Blue Skies
Skies 1 - session three times for disruptive behaviour.
Teamwork • During a visit to RAF Odiham, Grace shows a clear interest in engineering, asking excellent
questions. She plays down her abilities when praised and reverts to disruptive behaviour.
• Grace scores herself very low on the JET outcomes during her ‘goal setting’ session, but
reveals that she was inspired at RAF Odiham and might like to work in engineering.
**----- End of picture text -----**
## **Workplace visits to NATS, QinetiQ, Alstom and Portsmouth International Port**
- **Blue • In Year 9, there is a marked improvement in Grace’s attitude. She begins to Skies 2 - participate well in all Blue Skies activities and actively supports a new JET student. Leadership • Visits to partners such as Microsoft and Bremont Watches spark continued interest in engineering.**
- **• A ‘Colourworks’ session at NATS reveals her natural ability to lead and problem solve; Grace’s confidence is visibly boosted.**
## **Head of Year reports a breakthrough in school behaviour and lesson engagement**
|**Blue**
**Skies 3 -**|**• Grace confdes in her JET Youth Offcer that home life has again become challenging**
**with confict. She now has care responsibilities for her younger siblings.**|
|---|---|
|**Employability**|**• Grace continues to participate fully in Blue Skies and even apologises to her JET Youth**
**Offcer for her attitude at the start of Blue Skies 1!**|
||**• Grace asks about the possibility of work experience at NATS who are impressed with her**|
||**positive change. Grace spends a week at the site in the summer.**|
## **Joins School Council. Headteacher earmarks a future in politics**
**Beyond • Grace gives a moving graduation speech - without notes - about the impact of Blue Skies Blue and how much she has valued the opportunities she has been given. Skies • Grace plans to study engineering at college as a result of her workplace visits with JET and her work experience with NATS. • At the end of Year 11 Grace beams out of her school’s post about GCSE result successes!**
## **Grace is successful in her application to study engineering at a local college**
***This journey is based on the experiences of a former JET student and names and identities have been changed.**
Jon Egging Trust **05**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Welcome Chair of Trustees, Richard Peberdy**
This academic year, 72% of our Blue Skies students were eligible for Free School Meals, as economic deprivation continues to be our key enrolment driver. Why? Because we know that entrenched inequalities exist for young people on Free School Meals which stack the odds of success unfairly against them.
From academic attainment (only 42% of FSM students pass English and maths GCSE, compared to 72% of other students), to higher education progression (only 29% of FSM students went to university last year, compared to almost 50% of other students), these barriers continue into employment. Only 23% of Free School Meals students earn above Living Wage by the age of 25, compared to 43.5% of all other young people.
When we then consider that one in three young people in the UK now lives in poverty, not only is there a moral imperative to support this cohort of youngsters towards the futures they deserve, but there is an economic imperative too. A third of our future workforce is being let down by the current system.
This is where JET steps in. By intentionally identifying students early who are disengaging at school and facing
economic disadvantage, JET offers a novel approach to intervention. Our long-term programmes develop social and emotional skills and provide access to exceptional workplaces and professional role models. These mechanisms work together to inspire students to develop educational and career goals, whilst simultaneously developing the skills, mindsets and selfbelief to strive for them.
In a year in which our charity has increased frontline delivery and refined our programme offer to place impact at the heart of our decision making, we have also welcomed a new CEO, Dr Alex Brown, while our founder, Dr Emma Egging, is transitioning to become a trustee. We are eminently well-placed to do more in service of our students, working alongside our network of STEM, military and aerospace partners.
Oe **06**
Jon Egging Trust **06**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Introduction JET CEO, Dr Alex Brown**
This has been a year of transition for the Jon Egging Trust. Whilst we’ve made incredibly positive changes to our programmes and our impact methodology, and have grown our team, the challenge unfortunately remains the same.
The need for our work continues to grow as the attainment gap between the most and least advantaged pupils continues to increase. The attainment gap is the highest it has been in a decade, driving unequal and unfair employability outcomes for young people.
The imperative to turn the tide on this growing inequality underpins the changes that we’ve made to our programmes this year. Supported by expertise from Impetus and the Driving Impact work we carried out in 2023, this year has seen us embed the key revisions we have made to our programmes including phasing out our shorter Blue Skies Inspire Programme to ensure that every young person on our Blue Skies programme will now receive 108 hours of contact over three years, with alternate sessions taking place in inspirational workplaces.
These changes will not only make our programmes even more impactful for the young people we support, but will enable us to target the students who need them the most, and monitor our beneficiary impact as never before. We have been working with ImpactEd Group to develop a methodology to track our impact on young people’s academic attainment and school attendance, in addition to the existing metrics we gather around improvements in SEL skills, such as teamwork and confidence. This enhanced impact methodology will be rolled out in the 2024-25 academic year.
Whilst embracing this period of refinement and growth we contine to broaden our reach, supporting 4,154 young people this year with inspirational engagement. We delivered over 15,000 hours of support through our Blue Skies programme, working alongside a network of 617 inspiring professional volunteers and event supporters from our 75 exceptional military and corporate partners.
We have also had an extremely strong fundraising year, with a 46% growth in income on top of a 23% growth in 2022/23, underpinned by a robust fundraising strategy
Finally, this year saw our founder, Emma Egging OBE, transition from her role as CEO to becoming a Trustee. I am honoured to have been offered the opportunity to become JET’s new CEO, and look forward to working with the team to continue to drive this remarkable charity forward in service of the young people we support. It is fitting that Emma’s final full year in post marked one of our best years to date, in part due to our wonderful network and colleagues, without whose support and guidance none of this would be possible, but also due to Emma herself, whose dedication, hard work and resilience have been an inspiration for all who have worked alongside her. I look forward to continuing to work alongside Emma and her fellow trustees into the new academic year and beyond, to offer opportunity and hope to those young people who need us the most.
Jon Egging Trust **07**
Annual Report and Financial Statements for the year ended 31 August 2024 **Annual Report and Financial Statements for the year ended 31 August 2024**
## **2023 – 2024 in numbers**
**3,236 617 75 programme support professional volunteers military and corporate hours given by worked alongside the partners supported JET’s professional volunteers JET team programme delivery**
ee **Big Bang Fair 2024 Proven positive outcomes for JET students:** 2 **JET was part of the Generation Aviation Zone at Big Bang 2024, Improved educational attainment alongside the Civil Aviation Enhanced employability skills Authority, Royal Aeronautical Society Increased social mobility and Aerobility. Reduced inequality The team engaging with over 6,000 students across the three days,** _University of Northampton,_ Student **supporting them in a fact-finding** _Institute for Social Innovation and Impact,_ **mission about JET’s core** _JET Evaluation Report 2022_ numbers 7 4 * eS **competencies, leading VR tours of** FY24 **the International Space Station, and talking to them about their career** Student **dreams as part of our ‘inspiration wall’ installation.** numbers FY23 ere] Ve Student numbers ty: t! the FY22 Student numbers FY21 **Blue Skies 3-year 115 186 208 413 Blue Skies Inspire Package 194 438 611 291 Inspirational Outreach 1,902 2,137 1,309 3,450 Total students 2,211 2,761 2,128 4,154 Total Blue Skies support hours 6,705 12,708 16,147 15,399* Total sessions delivered 135 352 435 461**
**Blue Skies 3-year Blue Skies Inspire Package Inspirational Outreach Total students Total Blue Skies support hours**
_*Overall delivery hours dropped slightly in FY24 due to the phasing out of our shorter-term Blue Skies Inspire Package programme._
cc Jon Egging Trust
Jon Egging Trust **08**
Annual Report and Financial Statements for the year ended 31 August 2024
**Active JET counties 23-24 01 06 01** Anglesey yo **10 07 02** Cambridgeshire **09 03** Cornwall **02 04** Dorset **13 11** &5e **05** Hampshire **08 06** Lincolnshire ~ IS **07** Norfolk **12 08** Oxfordshire **05 09** Shropshire gk. **04 10** Staffordshire **11** Suffolk **03**
- **12** Wiltshire **13** West Midlands
## **Rising poverty**
C6 _**JET has helped me overcome many fears, they help me communicate with people that I don’t know and use my voice in a team.** Year 9 Blue Skies student, Hampshire, 2024_
**In England, over 2.1 million children and young people - representing 24.6% of all pupils - are eligible for free school meals, up from 23.8% in 2023.** _Department for Education (DfE) Annual School Census, June 2024_
## **Impact first**
Key decisions made during our ‘Driving Impact‘ workshop in 2023 led us to phase out our shorter Blue Skies Inspire Packages to enable all future Blue Skies students to access our refined three-year support programme. This has resulted in a 98% increase in Blue Skies threeyear students this academic year, and a 52% decrease in students receiving our shorter Blue Skies Inspire Packages.
Throughout the year, we have continued to embed refinements to our delivery methodology and programme specification. This, combined with improvements in our quality assurance and evaluation methodology will ensure impact remains that the heart of our decision-making as we seek to increase our reach in coming years.
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Annual Report and Financial Statements for the year ended 31 August 2024
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## **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.
## **What we measure?**
We also collect qualitative data through student and teacher questionnaires and feedback forms
We collect quantitative and qualitative impact data from our students and teachers based on JET’s six core competencies:
in order to monitor:
- Student enrolment criteria (e.g. Free School Meals)
a Communication + Confidence > > Leadership > Resilience »- Setting and achieving goals > Working with others
- Changes in students’:
- **Attitude to learning**
- **Academic attainment**
- **Behaviour**
- **School attendance**
Jon Egging Trust **10**
Annual Report and Financial Statements for the year ended 31 August 2024
## **2023 – 2024 Impact Data**
**61% 57% of JET students of JET students improved their improved their attitude to learning behaviour**
_**This is a life changing programme, there have been significant changes in the behaviour and attitudes in our students after just one year.** School teacher, Helston Community College, Cornwall 2024_
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Reported Teachers’ Student self-
improvements assessment assessment
Communication
83% 67%
Confidence
91% 67%
Leadership
85% 59%
Resilience
79% 59%
Setting and
achieving goals 83% 58%
Working
with others
84% 68%
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_**As someone who teaches most of the students, I have noticed that they are much more happy verbally contributing in lessons; there seems to be less fear of getting answers wrong in front of others.** School teacher, Hadley Learning Community, W Mids, 2024_
_**Engagement across the board has been noticeable. Many students prior to being part of the JET team had little resilience and could often opt out in lessons. This is really apparent with BS1 students who have shown increased resilience and effort levels.** Member of school staff, Lincolnshire, 2024_
_**One student who started the programme sat on the side lines not talking and was very reluctant to participate. By the end of this programme, the student is able to stand up and talk in a large group and work well with others. This student was very isolated in terms of friendships at the start of the sessions and has now got a new group of friends.** School staff, Cornwall, June 2024_
_**In January 2024, around 2.1 million pupils were eligible for Free School Meals, representing 24.6% of state funded pupils. This eligibility rate has increased sharply since 2018, and is at its highest rate since current records began.** Department for Education, 2024_
_Government statistics show that in 2023, 43% of pupils eligible for free school meals passed both English and maths GCSE compared to 72% of pupils not eligible._
**Blue Skies has helped me raise my voice and tell people when I need help. It has helped me to realise it doesn’t matter what other people think and to be yourself and talk up.** _Blue Skies 3 student, Oxfordshire, 2024_
Jon Egging Trust **11**
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Annual Report and Financial Statements for the year ended 31 August 2024
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## **Driving Impact**
At JET we continuously strive for excellence, and always ask ourselves ‘can we do better?’ To this end, we need a robust approach to evaluation, the right systems and processes in place, and a dedicated impact function. Our Driving Impact Strategy has been key to defining and delivering this since early 2023.
## **Reaching the right young people**
We have committed that a minimum of 70% of our students would be eligible for free school meals (FSM). During the academic year 23-24 81% of new students enrolled on our Blue Skies programmes were eligible for FSM.
We refined our target population criteria, making it clearer for schools to select those who would benefit the most from our programmes. In addition to students on free school meals, additional eligibility criteria for Blue Skies include those who have had adverse childhood experiences (ACEs), looked after children and those who are disengaging at school and lacking in SEL skills.
## **Understanding ‘what works’**
This academic year, we have conducted research to understand what good looks like when it comes to Social and Emotional Learning interventions. This resulted in the implementation of a new programme framework that combines in-school sessions led by our youth programmes team, with out-of-school visits to employers and higher education institutes, underpinned by our newly defined Theory of Change which will be published in the new academic year.
## **Programme refinement**
We have committed to delivering a consistent, structured syllabus of high-quality, high-impact programmes across all JET regions. To achieve this, we assembled a working group of experienced youth workers with specific knowledge of SEL interventions and youth work evaluation to redefine our impact outcomes and create a new programme specification. Implementation will begin with our Blue Skies Level 1: Teamwork, in the new academic year.
capture the information we need. The next academic year will see the full roll out of the ImpactEd system across all of JET’s Blue Skies schools. The data and insights this provides will be transformational and will enable us to deliver continuous improvements for our young people.
## **Impact methodology**
To accompany our new Blue Skies programme specification the working group created a bespoke evaluation methodology that helps students to understand the objectives of each session and places them at the centre of their own journey of change.
To add rigour to our evaluation methodology we piloted two externally validated scales with the view to rolling these out across all regions in the new academic year. The Short GRIT Scale and the General Self Efficacy Scale were trialled in schools in Cornwall and Dorset and it has been agreed that these pertain appropriately to our newly defined SEL outcomes.
## **Playing to team strengths**
To help us deliver our ambitious Driving Impact Strategy we recruited three new JET Youth Liaison Officers to deliver our programmes, and defined three new project work strands:
- 1: Data and Insights - led by Area Director West
- 2: Programmes Design – led by Area Director South
- 3: Quality Assurance and Space Projects – led by the newly appointed Area Director East
By playing to the wide range of experience and skills within our existing team we were able to mobilise quickly on our plans and support our people to grow. It has also enabled time to work out what longer-term growth looks like, what to prioritise, and how best to resource this function.
## **Monitoring impact**
We recognise the need for quality and timely data. To help us understand our target population and the impact of our programmes on school attendance and academic attainment, we began working with ImpactEd Group to implement a new way of working with our schools to
_**“I am starting to overcome my shyness and talk with pride”** Blue Skies 1 student, West Midlands, 2024_
Sn Jon Egging Trust **12**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Space to Learn**
JET continues to be a central delivery partner for the UK Space Agency’s Space to Learn programme. The funding and advocacy this has unlocked, and the strong space network we have established as a result, has enabled us to forge ahead with our ambition to weave space throughout our programmes.
We are proud to report that as of Sept 2024, every JET student who takes part in our long-term Blue Skies programmes will now have access to one or a number of inspiring space opportunities as part of their journey, from in-school space sessions and interactions with professional space role models, to inspiring workplace visits and SEL challenges linked to space.
## **Case study**
**Over 80 students from secondary schools in the West Midlands took part in JET’s space-themed careers day at RAF Museum Midlands.**
**Aimed at broadening awareness of careers in space and building aspiration, curiosity and confidence, the event was attended by Y7 and 8 students from four local schools including Moreton School, Charlton School and Highfields School. Students took part in a round-robin of**
**activities and challenges led by JET and supported by the RAF Museum, the Civil Aviation Authority (CAA) and the National Space Academy (NSA). Highlights of the day included interactive rocket challenges, an engaging careers-in-space talk, an educational space workshop, and immersive space-themed activities. As well as broadening career perspectives, the event focussed on building teamwork and communication skills; crucial workplace competencies championed by JET’s long-term support programmes.**
**Adelle Roberts, Head of Space Licensing and Monitoring at the UK Civil Aviation Authority said:** _**It’s not just astronauts and space cadets. The message we**_ cc _**want to send is there’s a huge range of exciting space jobs out there – from engineers to analysts, space lawyers to space communicators. We need inspired young people who can help make reaching for the stars a possibility not just a figure of speech.**_
February 8, 2024.
_**95% of the students who attended the event said they were more aware of the different careers in the space industry.**_
## **23-24 space in numbers**
- 8,500 student hours of space-inspired Blue Skies content
- 2,584 student hours of space-related Inspirational Outreach
- 11,084 total space hours delivered
## **23-24 space impact**
- 92% students said they were more interested in finding out more about space after JET’s space sessions
- 86% students who attended sessions at a partner site said they were more aware of the different careers in the space industry.
- 74% students who experienced JET space sessions at school said they were more aware of the different careers in the space industry.
_**The people we spoke to about space were really inspirational and the places we visited like the**_ C6 _**planetarium was very cool and gave me a better ideas of how space looks.** JET student, Wiltshire, 2024._
C6 _**Today has made me think about my career choices and what I wanted to do in the future. I absolutely loved this experience. Thank you.** JET student, West Midlands, 2024._
## _**I really liked the sessions about space. It’s fascinating learning about areas past our planet and relevant careers.**_
_JET student, Wiltshire, 2024._
Jon Egging Trust **13**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Partners & Volunteers**
The lifeblood of JET is its partnership model. We worked with 75 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 out students to think different about their futures. This year, professional role models volunteered 3,236 hours of their time to support and inspire our students.
66 _**I have thoroughly enjoyed volunteering for JET, most of all due to the contagious excitement and engagement of the young people in the activities and tasks! It has felt very meaningful.**_
_Aishah Mehmood, QinetiQ_
66 _**This is a great programme teaching the students skills for life and preparing for challenges ahead. I like making a difference, helping the young people move forward.** Flight Sergeant, Royal Air Force volunteer, 2024_
66 _**We have loved working with the students and seeing their confidence grow week on week. It makes us look forward to coming into work and we look forward to working with JET in the future.** RAF Museum Midlands volunteer, 202 Coningsby, 2023_
_**JET students have inspired**_ 66 _**me to be a better leader and role model within the RAF.**_
_Flight Lieutenant, Royal Air Force volunteer, 2024_
Jon Egging Trust **14**
**A year in socials**
## **Fundraising**
In an increasingly turbulent fundraising landscape, it is incredibly pleasing to report another exceptionally strong year of growth for JET’s fundraising output, with income growing 46% year-on-year, building on the 23% growth of FY23 and the 57% growth of FY22.
JET’s fundraising strength can be attributed to a number of key areas, including its analytical, data-driven approach to income generation, its strong and trusted reputation within the aerospace sector, and its increasing reach into government and institutional funding streams. In addition, strong messaging and brand identity, and the development of clear accountability and KPIs within a small but ambitious Comms & Fundraising Team, has enabled energy and output to be focussed on attainable goals.
## **Growth targets**
As ever at JET, our recent fundraising successes have not made us complacent. We remain acutely aware that our income growth has been matched by an increase in spend to enable our frontline team to reach more students. As our costs climb to service the rising programme demand - and as we adapt to the continued high inflation environment - so too our income generation targets must grow.
Going into FY25, and with the fundraising landscape tightening further, we will take a diligent, analytical approach. We remain ambitious and will continue to scan the horizon for new opportunity, but we will also ensure that our fundraising priorities are underpinned by clear rationale, rigorous planning, and a strong focus on the risk that the charity sector is facing in this bumpy economic and geo-political environment.
**16 Aug, 2024 28 Jun, 2024 19 Jun, 2024** JET students join Patrons Prof Brian Thousands of residential STAAR Cox and Sir Stu STEM enthusiasts Camp at RAF Atha host visit JET team at Cosford fundraising dinner Big Bang Fair at RAF Club 2024
**10 May, 2024 30 Apr, 2024 20 Mar, 2024** Outgoing CEO, UK Space Cornwall launches Dr Emma Egging, Command signs as ninth active honoured at JET collaboration region with session Annual Dinner pledge with JET at Spaceport Cornwall
_**92% teachers believe SEL**_ **18 Mar, 2024** _**is vital to**_ Reserve astronaut _**classroom**_ Meganne Christian _**attainment**_ supports Blue Skies session at RAL Space
**29 Feb, 2024** JET Annual Conference takes place at National Space Centre, Leics
## **Comms and events**
JET continues to work hard to raise our national profile and highlight our expertise in delivering SEL programmes and employability skills for our students. Our comms and events strategy also focuses on celebrating our exceptional partner network within the military and aerospace sectors without whom we would be unable to offer the range of extraordinary workplace experiences our students benefit from, or grow our funding and advocacy base as effectively as we do.
**9 Feb, 2024 6 Feb, 2024 19 Dec, 2023** 80 students Babcock delivers JET marks decade attend JET’s first Blue Skies of support from space careers day session in East key partner, at RAF Museum Anglia Northrop Cosford Grumman
_**As a group, nearly thirty members of the squadron completed the Robin Hood Half Marathon in support of JET in 2024. The team spirit, resolve and purpose displayed by the EMUAS collective on that day, I feel, embodies how JET impacts others.**_
_**I was incredibly proud to wear a JET running vest and enjoyed publicly promoting the charity. I, of course, relished the nature of the physical challenge too!**_
_Jack, East Midlands Air Squadron, 2024_
**7 Dec, 2023 23 Nov, 2023 24 Sep, 2023** JET & CAA mark JET takes centre Cyclists unite for International stage at UK Space JETRide 2023 Civil Aviation Conference, Day with aviation Belfast careers day
~~r~~ e The **Jon Egging Trust 15**
Annual Report and Financial Statements for the year ended 31 August 2024 **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. | 5 a :
The main objective of the charity is to act as a resource for young people living in England and Wales by providing advice and assistance, and organising programmes of physical, educational and other activities as a means of:
- **1** Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals.
- **2** Advancing education.
- **3** Relieving unemployment.
- **4** Providing recreational and leisure time activities in the interests of social welfare for people living in England and Wales who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances, with a view to improving their conditions of life.
Jon Egging TrustJon Egging Trust **016**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Financial Review**
## **Income**
Income for the 12 months to 31 August 2024 reached £1,361,951 (2023: £933,985 restated), year-on-year growth of 46%. Income generation continued its upward momentum, complemented by consistent diligence on expenditure growth to deliver a third surplus in _**2020/21 Income split (12 months) 2019/20 Income split (17 months)**_ succession and an increase to total reserves.
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Other Other
2% 2%
Trust & Grants -
Restricted
Trust & Grants - Corporate Corporate
34%
Restricted donations donations
aa
36% 18% »~ 25%
a
2 2023/24 7 Events 2 2022/23
12%
> General
donations & Events
gift aid 15%
1%
Trust & Grants - Trust & Grants - General
Unrestricted HNW Unrestricted donations
1%
30% 20% HNW & gift aid
2% 2%
Trust and grants represent the largest growth as a percentage of total income, climbing 72% over the period. Grants
from the UK Space Agency and Impetus, the Private Equity Foundation, reinforcing our strategy to target long-term
multi-year funding to ensure sustainable expansion.
Events income realised growth of 29% on the prior year, benefitting from a series of successful fundraising and
challenge activities including the JET Ride sportive and annual celebration dinner.
Corporate donations saw an uplift of 8% on the previous year, continuing the upward trajectory of this valuable income
stream and deepened investment in our partnership model.
General donations have again suffered, declining by 19%, driven by the ongoing cost-of-living crisis.
Jon Egging TrustJon Egging Trust 017
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Annual Report and Financial Statements for the year ended 31 August 2024
## **Expenditure**
Total costs for the 12 months to 31 August 2024 were £1,153,039 (2023: £865,737). The 34% increase on the prior year reflects investment in our team following a salary benchmarking exercise as well as growth in frontline delivery staffing, supported by investment in systems to further meet our impact and evaluation needs. Costs have accelerated across the board due to inflation.
## **Spend allocation 2023/24**
**----- Start of picture text -----**
a 23/24
80% SC 22/23
70%
60%
50%
40%
30%
20%
10%
0%
Fundraising Charitable activities
**----- End of picture text -----**
## **Going concern**
After making appropriate enquiries and evaluating external risks, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Fundraising**
The charity is registered with the Fundraising Regulator and has committed to following the Code of Fundraising Practice and Fundraising Promise. The charity does not use third-party fundraisers and has not received any complaints in the year regarding its fundraising. The charity makes use of its existing safeguarding policies when fundraising.
The proportion of spend allocated to charitable activities has increased to 76%; the driver behind this is the ongoing expansion of our programmes team to meet the growing number of students being targeted through our intensive Blue Skies programme.
Fundraising spend has fallen as a proportion of total costs to 24% due to higher increased spend within Charitable Activities within the year. Spend on JET hosted events included the annual fundraising dinner; a networking shooting event, and the JETRide sportive. Participation in external challenge events continued to strengthen.
Significant Investment in Equipment including Computer Equipment to be used in Youth programme delivery was enabled by UK Space Agency funding.
## **Reserves policy**
The Statement of Financial Activities shows total funds of £664,544 (2023: £455,632 restated).
£158,354 (2023: £73,866 restated) are restricted funds to be expended on specific purposes. The balance of £506,190 (2023: £381,766) is unrestricted, to be used to support the trust’s charitable activities.
Total reserves have grown over the period because of the healthy surplus achieved and the unrestricted reserves remain safely within the policy of 3-6 months operating costs, on a rolling 12-month basis. The trustees have reviewed the reserves policy and agreed to maintain this level as an appropriate threshold for free reserves. The year end position was 5 months forward expenditure.
OT **18**
Jon Egging Trust **18**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Governance, structure and management**
## **Governance board**
The charity was formed in September 2011 and incorporated on 24th February 2014. The charity is a company limited by guarantee whose members are 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 policy and a comprehensive induction encompassing training and meeting key members of the JET team to understand the various work areas. Trustees are also encouraged to attend sessions or graduations to get first-hand
experience of delivery and impact. The names of the trustees who served during the year and up to the date of approval of the financial statements are:
- **Dr Richard Peberdy, Chair**
- **Dawn Egging, Trustee**
- **Jamie Fyleman, Trustee (appointed 10/10/2023)**
- **Elizabeth Sharon Gillott, Trustee (appointed 29/01/2025)**
- **Peter James Lee, Trustee (appointed 31/01/2024)**
- **Zoe Anne Miranda Melarkey, Trustee**
- **Samantha Jacqueline Porteous, Trustee**
- **Sophie Anne Spread, Trustee**
- **John Vinney, Trustee (appointed 29/01/2025)**
- **John Wiles, Trustee**
## **Staff appointments**
Staff headcount increased to 29 by 31 August 2024 (2023: headcount was 24) as further investment was made in the frontline delivery team, reigniting appointments paused during the pandemic. Remuneration is set by the trustees and based on job role as well as market rates. There were no changes in senior personnel.
## **Structure and management reporting**
The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet to review the development of the charity and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including solicitors and accountants. The day-to-day management of the charity’s activities, and the implementation of policies, is delegated to the senior leadership team.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **Key risks and uncertainties**
The current troubled economic climate is consistently monitored and factored into strategic decisions. This is evident in our approach to cost control and careful forecasting: budgets are created conservatively to ensure financial commitments are met, even if revenue slows; recruitment is only initiated when long-term, sustainable
funding is secure; and inflation at its current elevated levels is incorporated into material bids, project plans, and budgeting to account for potential price increases.
We actively plan for the effects of a significant economic downturn on the education sector. The lessons learned from the Covid crisis have equipped us to better support schools and reach young people despite challenges such as lockdowns. We are well-prepared to adapt and adjust our delivery methods as needed.
Additionally, we recognize that some schools or partners may face challenges in continuing to accommodate JET programs as their budgets tighten and priorities shift. To address this, JET is strengthening its impact methodology and messaging while enhancing its presence in the Social and Emotional Learning space to underscore the critical role our work plays in transforming young lives. We also remain committed to fostering strong communication across the JET community—staff, volunteers, partners, and young people—by offering support for their wellbeing and demonstrating their importance in shaping our future path.
Given the growing sophistication of cyber threats, safeguarding data protection is a heightened priority. We are vigilant in reviewing our measures to counter the increasing incidence of hacking and phishing scams. To maintain robust security, we work with an external contractor who audits our procedures, advises on strategies, and supports our virtual office infrastructure. Our staff receive regular training and alerts on emerging threats, and we continually improve systems and practices to address any weaknesses.
Financial performance is closely monitored through monthly management accounts and a mid-year budget reforecast. We maintain strict cost control, with careful cash flow monitoring. JET also holds a comprehensive insurance policy, including cyber insurance, which is reviewed annually with the assistance of our insurance broker, Berkeley Insurance Group.
Risk management is carefully monitored within the charity. Trustees delegate daily risk management to the CEO and executive team through a risk register that includes both strategic and operational risks. These risks are rated by their potential impact and mitigated through proactive actions. Key risks covered in the register include the loss of an important partner (affecting program delivery or finances), insufficient funding to support the operational plan, safeguarding breaches involving a JET student or staff member, and limitations within schools (such as budget constraints). The risk register is reviewed quarterly by the external Finance Committee, which reports back to the board of trustees.
Additional oversight is provided by two more external committees: 1) Education, and 2) Fundraising & Communications. These committees meet quarterly to provide advice and assess activities within their respective areas of expertise, alerting the leadership team and trustees to potential risks.
Jon Egging Trust **19**
Annual Report and Financial Statements for the year ended 31 August 2024
## **Future Plans**
During the 2024-2025 financial year, the consolidated Blue Skies programme will continue to focus on young people aged 12- 15 (yrs 8-10), and on developing JET’s core SEL competencies in addition to boosting aspiration, self-belief and key employability skills.
Students will continue to progress through the three years of structured Blue Skies support:
Year 1: Teamwork
Year 2: Leadership
Year 3: Employability
We will complete our planned phase-out of JET’s shorter Blue Skies Inspire Packages (BSIP) in order to ensure all students are now able to benefit from the quality and impact of our flagship three-year programme.
The in-school JET-led SEL sessions which were a feature of BSIPs, will be embedded into the refined three-year Blue Skies syllabus, and will alternate with the inspirational out-of-school workplace visits which have always been a defining element of Blue Skies.
The healthy surplus achieved in the 2023-2024 financial year will serve to continue the targeted growth of our frontline team and to invest in a robust and refined impact methodology, including the implementation of a dedicated data insights role and new impact tracking software and processes.
We will also continue to nurture our partnership model and deepen our presence in our existing networks with a new corporate tiering system and comprehensive engagements calendar.
Demand for JET programmes persistently outweighs our resource, and we are committed to growing our reach sustainably and incrementally through strengthening the team, our programmes and our impact, consolidating in our existing regions before expansion into new locations.
## **Disclosure of information to auditors**
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
Approved on behalf of the Board of Trustees by: Mr R Peberdy, Chair of Trustees Trustee Se Dated: 7th May 2025
Jon Egging Trust **20**
Annual Report and Financial Statements for the year ended 31 August 2024
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Dr Richard Peberdy, Chair Dawn Egging, Trustee Jamie Fyleman, Trustee (appointed 10 October 2023) Elizabeth Sharon Gillott, Trustee (appointed 29 January 2025) Peter James Lee, Trustee (appointed 31 January 2024) Zoe Anne Miranda Melarkey, Trustee Samantha Jacqueline Porteous, Trustee Sophie Anne Spread, Trustee John Vinney, Trustee (appointed 29 January 2025) John Wiles, Trustee
## **Company registered number** 08908969
**Charity registered number** 1156265
**Registered office** 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
**Chief executive officer** Emma Egging (resigned 29th November 2024) Alex Brown (appointed 18th November 2024)
## **Independent auditors**
Goodman Jones LLP Chartered Accountants 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Jon Egging Trust **21**
Annual Report and Financial Statements for the year ended 31 August 2024
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024**
The Trustees (who are also the directors of the Charity for the purposes 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
**Dr Richard Peberdy** Chair
Date: 14-05-25
Jon Egging Trust **22**
Annual Report and Financial Statements for the year ended 31 August 2024
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE JON EGGING TRUST**
## **Opinion**
We have audited the financial statements of The Jon Egging Trust (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 2024 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 Charities Act 2011 and the Companies Act 2006.
## **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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charitable company'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 Auditors' 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.
Jon Egging Trust **23**
Annual Report and Financial Statements for the year ended 31 August 2024
Independent Auditor’s Report (Continued)
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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.
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act 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 Auditors' 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:
Based on our understanding of the company and industry, we identified that the principal risks of noncompliance with laws and regulations related to industry sector regulations and unethical and prohibited business practices, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried. These procedures included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Reading minutes of meetings of those charged with governance;
- Obtaining and reading correspondence from legal and regulatory bodies including HMRC;
- Identifying and testing journal entries;
- Challenging assumptions and judgements made by management in their significant accounting estimates.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Jon Egging Trust **24**
Annual Report and Financial Statements for the year ended 31 August 2024
Independent Auditor’s Report (Continued)
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' 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 and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Goodman Jones LLP**
Chartered Accountants Statutory Auditor 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Date: 15-05-25
Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Jon Egging Trust **25**
Annual Report and Financial Statements for the year ended 31 August 2024
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
|**Note**
**Income from:**
Donations and legacies
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**745,957**
**4,967**
**9,501**
**760,425**
**276,640**
**359,361**
**636,001**
**124,424**
**381,766**
**124,424**
**506,190**|**Restricted**
**funds**
**2024**
**£**
**601,526**
**-**
**-**
**601,526**
**-**
**517,038**
**517,038**
**84,488**
**73,866**
**84,488**
**158,354**|**Total**
**funds**
**2024**
**£**
**1,347,483**
**4,967**
**9,501**
**1,361,951**
**276,640**
**876,399**
**1,153,039**
**208,912**
**455,632**
**208,912**
**664,544**|_Total_
_funds_
_2023 - as_
_restated_
_£_
_927,877_
_1,101_
_5,007_|
|---|---|---|---|---|
|||||_933,985_|
|||||_235,288_
_630,449_|
|||||_865,737_|
|||||_68,248_|
|||||_387,384_
_68,248_|
|||||_455,632_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 29 to 44 form part of these financial statements.
Jon Egging Trust **26**
Annual Report and Financial Statements for the year ended 31 August 2024
## **BALANCE SHEET AS AT 31 AUGUST 2024**
||||||_2023 - as_|
|---|---|---|---|---|---|
||||**2024**||_restated_|
||**Note**||**£**||_£_|
|**Fixed assets**||||||
|Tangible assets|13||**98,661**||_7,192_|
||||**98,661**||_7,192_|
|**Current assets**||||||
|Stocks|14|**1,430**||_2,070_||
|Debtors|15|**42,473**||_114,217_||
|Cash at bank and in hand||**550,188**||_366,128_||
|||**594,091**||_482,415_||
|Creditors: amounts falling due within one||||||
|year|16|**(28,208)**||_(33,975)_||
|**Net current assets**|||**565,883**||_448,440_|
|**Total assets less current liabilities**|||**664,544**||_455,632_|
|**Net assets excluding pension asset**|||**664,544**||_455,632_|
|**Total net assets**|||**664,544**||_455,632_|
|**Charity funds**||||||
|Restricted funds|17||**158,354**||_73,866_|
|Unrestricted funds|17||**506,190**||_381,766_|
|**Total funds**|||**664,544**||_455,632_|
The notes on pages 29 to 44 form part of these financial statements
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
................................................
**Dr Richard Peberdy** Chair
Date: 14-05-25
Jon Egging Trust **27**
Annual Report and Financial Statements for the year ended 31 August 2024
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 29 to 44 form part of these financial statements|**2024**
**£**
**287,123**
**(112,564)**
**9,501**
**(103,063)**
**-**
**184,060**
**366,128**
**550,188**|_2023 - as_
_restated_
_£_
_(116,842)_
_(5,553)_
_5,007_
**(546)**
**-**
**(117,388)**
_483,516_
_366,128_|
|---|---|---|
Jon Egging Trust **28**
Annual Report and Financial Statements for the year ended 31 August 2024
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **1. General information**
The Jon Egging Trust ("JET" or "the Charity") is a charitable company, limited by guarantee, registered in England and Wales, and whose registered office address is 1st Floor Arthur Stanley House, 40-50 Tottenham Street, London, W1T 4RN. The Charity's objects are set out in the Trustees' Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Jon Egging Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements have been prepared in Sterling, the functional currency of the Charity. Monetary amounts in these financial statements have been rounded to the nearest £.
## **2.2 Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees consider that there is no material uncertainity about the Charity's ability to continue as a going concern based on their review of budgets, cashflow forecasts, reserves, cash balances, and future plans of the Charity.
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Jon Egging Trust **29**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **2. Accounting policies (continued)**
## **2.4 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis subject to meeting an performance conditions attached to the grants. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Jon Egging Trust **30**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Fixtures and fittings Over 3 years straight line - Office equipment Over 3 years straight line - Computer equipment Over 3 years straight line
## **2.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.12 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Jon Egging Trust **31**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **2. Accounting policies (continued)**
## **2.13 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## Critical areas of judgement:
Income recognition - the Charity receives income from contracts and performance grants. These agreements include various quantitative and qualitative milestones and performance conditions to be met in order for the Charity to have entitlement to the funds. The Charity makes various assumptions in determining the stage of completion of these contracts and performance grants.
## **4. Income from donations and legacies**
|Donations and gifts
Grants
Event income
**Total 2024**
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
177,338
410,000
158,619
745,957
_588,955_|**Restricted**
**funds**
**2024**
**£**
109,200
492,326
-
601,526
_338,922_|**Total**
**funds**
**2024**
**£**
**286,538**
**902,326**
**158,619**
**1,347,483**
_927,877_|_Total_
_funds_
_2023 - as_
_restated_
_£_
_279,639_
_522,422_
_125,816_|
|---|---|---|---|---|
|||||_927,877_|
||||||
Jon Egging Trust **32**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **5. Income from other trading activities**
|Other Fundraising
Sale of merchandise
_Total 2023_
**6.**
**Investment income**
Interest receivable
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
1,577
3,390
4,967
_1,101_
**Unrestricted**
**funds**
**2024**
**£**
9,501
_5,007_|**Total**
**funds**
**2024**
**£**
**1,577**
**3,390**
**4,967**
_1,101_
**Total**
**funds**
**2024**
**£**
**9,501**
_5,007_|_Total_
_funds_
_2023_
_£_
_1,082_
_19_|
|---|---|---|---|
||||_1,101_|
||||_Total_
_funds_
_2023_
_£_
_5,007_|
|||||
Jon Egging Trust **33**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **7. Raising funds**
## **Fundraising and publicity**
|**Unrestricted**
**funds**
**2024**
**£**
Other Fundraising Costs
131,680
Staff Costs
1,344
Staff Costs
127,858
Costs of raising voluntary income - NI
11,019
Costs of raising voluntary income - pension costs
4,739
276,640
_Total 2023_
_235,288_|**Total**
**funds**
**2024**
**£**
**131,680**
**1,344**
**127,858**
**11,019**
**4,739**
**276,640**
_235,288_|_Total_
_funds_
_2023_
_£_
_90,224_
_740_
_128,243_
_11,337_
_4,744_|
|---|---|---|
|||_235,288_|
||||
## **8. Analysis of expenditure on charitable activities**
|Youth Programmes
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
359,361
_322,402_|**Restricted**
**funds**
**2024**
**£**
517,038
_308,047_|**Total**
**2024**
_Total_
_2023_
**£**
_£_
**876,399**
_630,449_
_630,449_|
|---|---|---|---|
Jon Egging Trust **34**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **9. Analysis of expenditure by activities**
|Youth Programmes
_Total 2023_
**Analysis of support costs**
Staff costs
Other Staff costs
Depreciation
Bank Fees
Travelling and subsistence
IT expenses
Consulting
Trustees expenses
Audit fees
Conference and Meeting
Website and Development
Legal and Insurance
Marketing
Other
_Total 2023_|**Activities**
**undertaken**
**directly**
**2024**
**£**
517,038
_308,047_|**Support**
**costs**
**2024**
**£**
359,361
_322,402_
**Youth**
**Programmes**
**2024**
**£**
238,855
28,437
704
242
9,569
22,111
7,949
58
20,676
2,547
14,242
10,773
1,376
1,822
359,361
_322,402_|**Total**
**funds**
**2024**
**£**
**876,399**
_630,449_
**Total**
**funds**
**2024**
**£**
**238,855**
**28,437**
**704**
**242**
**9,569**
**22,111**
**7,949**
**58**
**20,676**
**2,547**
**14,242**
**10,773**
**1,376**
**1,822**
**359,361**
_322,402_|_Total_
_funds_
_2023_
_£_
_630,449_
_Total_
_funds_
_2023_
_£_
_220,377_
_6,600_
_590_
_249_
_12,127_
_22,782_
_22,919_
_-_
_21,016_
_-_
_4,690_
_7,294_
_1,567_
_2,191_
_322,402_|
|---|---|---|---|---|
Jon Egging Trust **35**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **10. Auditors' remuneration**
|**Auditors' remuneration**|||
|---|---|---|
||**2024**|_2023_|
||**£**|_£_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**17,055**|_14,855_|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**6,500**|_6,161_|
## **11. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**699,773**
**58,291**
**24,127**
**782,191**|_2023_
_£_
_563,567_
_44,617_
_19,543_|
|---|---|---|
||||
|||_627,727_|
The average number of persons employed by the Charity during the year was as follows:
||**2024**|_2023_|
|---|---|---|
||**No.**|_No._|
|Charitable activities|**26**|_24_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**2024**|_2023_|
|---|---|---|---|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_-_|
During the year, the Charity incurred total costs, including employer's national insurance and pension contributions, in resepct of key management personnel of £247,159 (2023: £232,980).
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 August 2024, expenses totalling _£_ 479 were reimbursed or paid directly to Trustees _(2023 - £118 to_ Trustees).
Jon Egging Trust **36**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 September 2023
Additions
Disposals
At 31 August 2024
**Depreciation**
At 1 September 2023
Charge for the year
On disposals
At 31 August 2024
**Net book value**
At 31 August 2024
_At 31 August 2023_
**Stocks**
Raw materials and consumables|**Fixtures and**
**fittings**
**£**
**102**
**-**
**-**
**102**
**102**
**-**
**-**
**102**
**-**
_-_|**Office**
**equipment**
**£**
**-**
**38,521**
**-**
**38,521**
**-**
**5,885**
**-**
**5,885**
**32,636**
_-_|**Computer**
**equipment**
**£**
**22,919**
**74,043**
**(2,088)**
**94,874**
**15,727**
**15,210**
**(2,088)**
**28,849**
**66,025**
_7,192_
**2024**
**£**
**1,430**|**Total**
**£**
**23,021**
**112,564**
**(2,088)**
**133,497**
**15,829**
**21,095**
**(2,088)**
**34,836**
**98,661**
_7,192_
_2023_
_£_
_2,070_|
|---|---|---|---|---|
## **14. Stocks**
Jon Egging Trust **37**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **15. Debtors**
|**Due within one year**
Trade debtors
Prepayments and accrued income|**2024**
**£**
**18,595**
**23,878**
**42,473**|_2023 - as_
_restated_
_£_
_56,923_
_57,294_|
|---|---|---|
||||
|||_114,217_|
## **16. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
**251**
**3,671**
**24,286**
**28,208**|_2023_
_£_
_1,188_
_2,700_
_30,087_|
|---|---|---|
||||
|||_33,975_|
Jon Egging Trust **38**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **17. Statement of funds**
## **Statement of funds - current year**
|**Statement of funds - current year**|||||
|---|---|---|---|---|
|**Unrestricted funds**
General Funds 1
**Restricted funds**
BAE Systems
Civil Aviation Authority Yr2
Civil Aviation Authority Yr3
Norfolk Community
Henry Smith Foundation
Midland Counties Co-Op
Mr Kenneth
NightSky Foundation
Northrop Grumman
Qinetiq
RAF Museum
Red Arrows Trust
Superior Seals
The Hargreaves Foundation
UK Space Agency
Valentine Trust
Clothworkers foundation
**Total funds**|**Balance at 1**
**September**
**2023 - as**
**restated**
**£**
**381,766**
**-**
**35,000**
**-**
**10,000**
**-**
**-**
**-**
**8,866**
**-**
**20,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**73,866**
**455,632**|**Income**
**£**
**760,425**
**58,000**
**-**
**50,000**
**-**
**62,100**
**2,500**
**5,000**
**-**
**40,700**
**-**
**14,805**
**2,000**
**3,000**
**9,907**
**328,514**
**20,000**
**5,000**
**601,526**
**1,361,951**|**Expenditure**
**£**
**(636,001)**
**(22,000)**
**(35,000)**
**(20,835)**
**(10,000)**
**(56,603)**
**(2,500)**
**(5,000)**
**(3,706)**
**(40,700)**
**(20,000)**
**(14,805)**
**(396)**
**(3,000)**
**(9,907)**
**(247,586)**
**(20,000)**
**(5,000)**
**(517,038)**
**(1,153,039)**|**Balance at**
**31 August**
**2024**
**£**
**506,190**|
|||||**36,000**
**-**
**29,165**
**-**
**5,497**
**-**
**-**
**5,160**
**-**
**-**
**-**
**1,604**
**-**
**-**
**80,928**
**-**
**-**|
|||||**158,354**|
|||||**664,544**|
Jon Egging Trust **39**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **17. Statement of funds continued**
## **Restricted funds - current year**
**BAE Systems –** Part funding for delivery of programmes in North Wales and Lincolnshire **Civil Aviation Authority –** Part funding for programmes and events in Lincolnshire, Hampshire, Wiltshire, Oxfordshire, East Anglia and North Wales
**Norfolk Community Foundation – Dudgeon** STEM programme funding to part fund the Blue Skies programme in East Anglia
**Henry Smith Foundation -** Part funding 5 cohorts through the 3 year Blue Skies programme – 1 cohort in each of the following regions: East Anglia, Dorset, North Wales, Lincolnshire and Oxfordshire.
**Midland Counties Co-op –** to support Inspirational Outreach events in Oxfordshire and the West Midlands
**Mr Kenneth –** Memoriam donation given to support programmes at Purbeck School in Dorset
**NightSky Foundation –** to fund VR Equipment to support programmes in East Anglia and Lincolnshire **Northop Grumman –** to support the Reach for Blue Skies programme
**Qinetiq -** to fund and develop programmes in Wiltshire and Dorset
**Royal Air Force Museum – t** o support the appointment of a Regional Manager role in West Midlands to work with the Royal Air Force Museum
**Red Arrows Trust –** funding for tangible equipment used for delivery of programmes in Lincolnshire **Superior Seals –** funding towards programmes in Dorset
**The Hargreaves Foundation –** to part fund a cohort through Year 1 of the Blue Skies programme in Cornwall
**UK Space Agency (UKSA) -** 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 **.**
**The Valentine Charitable Trust –** to part fund programmes in Dorset
**Clothworkers Foundation –** to support implementation of a new Impact and Evaluation system
Jon Egging Trust **40**
Annual Report and Financial Statements for the year ended 31 August 2024
## Notes to the Financial Statements (Continued)
## **17. Statement of funds (continued)**
|**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds
**Restricted funds**
BURBO Bank
CAA Yr1
CAA Yr2
Conwy VAlley Railway
Dudgeon
Eloise & Katy Memorial Fund
Groundwork
Gwendoline & Margaret Charity
LIBOR 1
LIBOR 2
NightSky Foundation
Qinetiq
RAF Museum
UKSA
Valentine Trust
**Total funds**|_Balance at_
_1 September_
_2022_
_£_
_385,202_
_863_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_1,319_
_-_
_-_
_-_
_-_
_-_
_-_
_2,182_
_387,384_|_As restated_
_Income_
_£_
_555,063_
_467_
_50,000_
_60,000_
_923_
_10,000_
_3,500_
_1,000_
_5,000_
_-_
_54,871_
_8,866_
_40,000_
_5,895_
_118,401_
_20,000_
_378,923_
_933,986_|_Expenditure_
_£_
_(558,499)_
_(1,330)_
_(50,000)_
_(25,000)_
_(923)_
_-_
_(3,500)_
_(1,000)_
_(5,000)_
_(1,319)_
_(54,871)_
_-_
_(20,000)_
_(5,895)_
_(118,401)_
_(20,000)_
_(307,239)_
_(865,738)_|_Balance at_
_31 August_
_2023 - as_
_restated_
_£_
_381,766_|
|---|---|---|---|---|
|||||_-_
_-_
_35,000_
_-_
_10,000_
_-_
_-_
_-_
_-_
_-_
_8,866_
_20,000_
_-_
_-_
_-_|
|||||_73,866_|
|||||_455,632_|
Jon Egging Trust **41**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
98,661
Current assets
435,737
Creditors due within one year
(28,208)
**Total**
506,190|**Restricted**
**funds**
**2024**
**£**
-
158,354
-
158,354|**Total**
**funds**
**2024**
**£**
**98,661**
**594,091**
**(28,208)**
**664,544**|
|---|---|---|
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023 - as_
_restated_
_£_
_7,192_
_408,549_
_(33,975)_
_381,766_|_Restricted_
_funds_
_2023 - as_
_restated_
_£_
_-_
_73,866_
_-_
_73,866_|_Total_
_funds_
_2023 - as_
_restated_
_£_
_7,192_
_482,415_
_(33,975)_
_455,632_|
|---|---|---|---|
Jon Egging Trust **42**
Annual Report and Financial Statements for the year ended 31 August 2024
## Notes to the Financial Statements (Continued)
## **19. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income for the period (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Decrease in creditors
Interest received
**Net cash provided by/(used in) operating activities**
**20.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**21.**
**Analysis of changes in net debt**|**2024**
**£**
**208,912**
**21,095**
**640**
**36,744**
**(2,888)**
**(9,501)**
**255,002**
**2024**
**£**
**550,188**
**550,188**|_2023 - as_
_restated_
_£_
_68,248_
_2,952_
_(2,070)_
_(63,283)_
_(82,682)_
_(5,007)_
_(81,842)_
_2023_
_£_
_366,128_
_366,128_|
|---|---|---|
|Cash at bank and in hand|**At 1**
**September**
**2023**
**£**
**366,128**
**366,128**|**Cash flows**
**At 31**
**August 2024**
**£**
**£**
**184,060**
**550,188**
**184,060**
**550,188**|**Cash flows**
**At 31**
**August 2024**
**£**
**£**
**184,060**
**550,188**
**184,060**
**550,188**|
|---|---|---|---|
||||**550,188**|
## **22. Related party transactions**
Other than as disclosed elsewhere in these financial statements, there were no transactions with related parties requiring disclosure in either the current or prior years.
Jon Egging Trust **43**
Annual Report and Financial Statements for the year ended 31 August 2024
Notes to the Financial Statements (Continued)
## **23. Prior year adjustment**
The Charity has restated its comparative figures to reflect grant income that was received in the current year but should have been recognised in the previous year. The impact of this adjustment is that restricted income and restricted reserves carried forward in the prior year have increased by £35,000.
Jon Egging Trust **44**