Charity number: 1163656
JAAGO Foundation UK
Unaudited
Trustees' report and financial statements
for the year ended 6 April 2021
JAAGO Foundation UK
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 15 |
JAAGO Foundation UK
Reference and administrative details of the Charity, its Trustees and advisers for the year ended 6 April 2021
Trustees
Miss S Donachie
Mr J Punter Mr K Dhrubo Mrs R Morris
Miss A Durham
Charity registered number
1163656
Principal office
25 Lancaster Road St Albans Hertfordshire AL1 4EP
Accountants
Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU
Page 1
JAAGO Foundation UK
Trustees' report for the year ended 6 April 2021
The Trustees present their annual report together with the financial statements of the Charity for the yearyear ended 6 April 2021.
Objectives and activities
a. Policies and objectives
The principal objective of the Charity is to prevent and relieve poverty in Bangladesh through the provision of educational assistance to children from socially and economically disadvantaged backgrounds. The Charity also supports young people in Bangladesh to deepen their capacity and knowledge on issues of democracy and civics by training youth on their role as citizens and supporting them to conduct civic education awareness raising activities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The Charity raises funds through individual donors, sponsored events and obtaining grants. Donations are subsequently made to local organisations operating in Bangladesh to provide educational support to children and supporting young people to raise awareness on issues of democracy and civics. Donations to beneficiary organisations are made following a strict criterion to ensure that the objectives of JAAGO Foundation UK are achieved.
c. Grant-making policies
The aim of the grant making policy is to provide clear information from the Trustees regarding which projects JAAGO Foundation UK will consider supporting.
The Trustees wish to support grassroots organisations and projects which are providing benefit to society in Bangladesh. In particular, the Trustees will support educational and community development projects which support underprivileged children in Bangladesh: with a focus on education, healthcare and sustainable livelihoods.
The Trustees will only support charitable organisations and community projects.
Grants requests which the Trustees will not normally support are:
-
Contributions to general appeals or circulars;
-
Religious activity which is not for wider public benefit;
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Public bodies to carry out their statutory obligations;
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Activities which solely support animal welfare;
-
Grant-making by other organisations.
d. Volunteers
The Trustees remain consistent and all volunteer their time, free of charge to support the oversight and management of the Charity. In 2020-21, no further volunteers have been engaged in the work on JAAGO Foundation UK.
Page 2
JAAGO Foundation UK
Trustees' report (continued) for the year ended 6 April 2021
Achievements and performance
a. Review of activities
During the financial year, JAAGO Foundation UK has seen a 4% increase in annual income, as the Sponsor a Child’ programme has significantly increased since the last financial year. This programme was impacted by the COVID-19 pandemic during FY19/20 and has subsequently started to recover in the reporting period. The expenditure for the year has increased (39% from the previous FY) as grants have been issued for the Youth and Education programmes.
Sponsor a child programme
During the year, the Sponsor a Child programme recovered from the impacts of COVID-19 (evident in 20192020 financial reporting) and saw an increase in both the number of individual donors and the frequency of larger one-off donations. It is anticipated that these regular donations will continue at this pace for the foreseeable future.
Education for the underprivileged
During the year, this programme has seen a minor decline (1.5%) which is not cause for concern. The programmes continue to provide significant income for the charity and the campaigns available for donors to contribute to have not changed, and include:
-
Free-of-cost school for underprivileged children
-
Feed the Children
-
Educate a Girl
-
Safe Haven for Rohingya Refugee Children
-
Coronavirus relief support for Bangladesh
Youth programme
The youth programme consists of a grant from the National Endowment for Democracy (NED), which was extended in 2019-20 to 30 September 2020 and an additional grant was issued (1 October 2020 to 30 September 2022) for $140,000 during the reporting period. This continues to support our work with youth volunteers to build their capacity and knowledge to raise awareness on issues of democracy and civics. During the year, the programme has been delivered according to planned objectives.
Teachers Salary programme
Similarly to 2019-20, this programme received no donations from The Orphan’s Trust and it is anticipated that no further donations will be received. This is not a cause for concern given the increases for the Sponsor a Child programme and financial performance of the charity during the year.
Page 3
JAAGO Foundation UK
Trustees' report (continued) for the year ended 6 April 2021
Achievements and performance (continued)
Financial review
a. 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. 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.
b. Reserves policy
As at 6 April 2021, the Charity has a balance in general reserves £598 for operational expenses. All reserves are kept to a minimum due to low operational expenditure and no funds are held as a custodian trustee. Reserves are monitored on a quarterly basis.
From 6 April 2020 1% of all future donations will be allocated to support administrative running costs of the Charity, which has been clearly communicated to donors and supporters of the organisation.
Structure, governance and management
a. Constitution
JAAGO Foundation UK is a registered charity, number 1163656, and is constituted under a Charity Commission Scheme.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity Commission Scheme. Each Trustee is appointed for a fixed term (usually 3 years) by a resolution passed at a properly convened meeting. Trustees may be reappointed for further fixed term periods.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
During 2021/22 the Charity will continue to provide grants to organisations operating in Bangladesh to provide educational support to children.
Covid-19
Additional precautions continue to be taken within the programmes JAAGO Foundation UK supports, such as ensuring social distancing and adequate PPE, to limit the spread of the virus. It is not anticipated that the impacts of COVID-19 will significantly affect ongoing operations or fundraising of JAAGO Foundation UK into 2022.
Page 4
JAAGO Foundation UK Trustses. report Icontlnued) for the year ended 6 April 2021 statemgnt of Truthes. respmsibilli The Trustees are reswJnsle for preFyaring the Trustees. rewrt and the financial statements in accordance with applicable law and Unite(l Kingdom Ac(xwnling Stsndwds (United Kingdom Generally Accepted AcuntIng Prdcticel. The Eaw applicable to charities ¥1 Enj & Waes requwes the TNstee8 to prepare ffinanual statemenlg for each financial year which give a aTrJ far view ol Ihe slate of affairs of the Charity of its incoming resources and appli¢xtion of resources, indudiry ils incomé and eXJUTe. for that peric*d. In prepariThJ these financial ststements. the Trustees are required to: selecl suilable acc¥)untir &e$ aThl then them consistenty. observe the methods and principles of the Charities SORP IFRS 102).. make judgments and accAwJntsng eslimates Ihat are reaS(atre ond tKudent', state %thether applicablo UK Accwntsng Stsndards IFRS 1021 have been followed. subied to any malerlal departures disck)sed aThJ ewained in the fla1 statem. prepare the finanrAal 5tstements on th8 cmrmn bBsis uthss il is inapFryriate to pr8suma that the Charity will continue in business. The Trustee5 are responsible lor keeping adequate accounting records that are sufficient to show and explain the Chariivs transactitMs aThJ disdose wilh reasonth aCraLY at any time the finan81 positiLY) of the Charity and enable them lo ensure that the financial statements comply thg Charits8s Act 2011. tho Charity (Accounts and Reports) Regulations 2008 and the proviCl)S of the Charity Commission Schem8. Thay 8re also responsible for safeguarding the assèts of th8 Charity aTrJ hence lor taking re8scfflable steps for the provgntion 8nd d8te¢ts'on of frau(i and other irregul81itie8. Approved by order of the members of the bD8rd (rf Twstees 3 February 2022 and signed on their behalf by.. MISS S Donachlo Tnjslee PAr J Punt•r Twstee Page 5
JAAGO Foundation UK
Independent examiner's report for the year ended 6 April 2021
Independent examiner's report to the Trustees of JAAGO Foundation UK ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 6 April 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 4 February 2022
S M Rouse
FCCA DChA
Kreston Reeves Chartered Accountants Canterbury
Page 6
JAAGO Foundation UK
Statement of financial activities for the year ended 6 April 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 3,044 3,044 1,680 1,680 1,364 (766) 1,364 598 |
Restricted funds 2021 £ 221,705 221,705 195,586 195,586 26,119 205,776 26,119 231,895 |
Total funds 2021 £ 224,749 224,749 197,266 197,266 27,483 205,010 27,483 232,493 |
Total funds 2020 £ 215,856 |
|---|---|---|---|---|
| 215,856 | ||||
| 142,356 | ||||
| 142,356 | ||||
| 73,500 | ||||
| 131,510 73,500 |
||||
| 205,010 |
The notes on pages 9 to 15 form part of these financial statements.
Page 7
JAAGO Foundatlork UK Balance sheet as at 6 April 2021 2020 Flxed assats Currant assets Debto Cash at bank and In hand 235,468 206.39) 206.3rwJ Creditors: amounts falllThJ due withln c year (3MO) (1,380) Not curr•nt a•8•ts 232.493 205,010 Total assets 1gs$ ¢urv•nt Ilabllltl•• 232.493 205,010 N•t ass•l• •xcludlng p•nslon •u6t 232.493 205,010 Total net a8Bets 232,493 205.010 Chartty fund¥ Restricted funds Unrestricted funds 231,895 598 205.776 {768) Total funds 232,493 205.010 The fin8ndal statements wern apwoved and auttrth8ed for ISS ty thè Twstees on 03 February 2022 and Signed on their behall ty. Ml88 S Donachle Trustee Mr J Punter Trustee The notes on pagos 9 to 15 forni part of these fnCIal statements.
JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
1. General information
JAAGO Foundation UK is a charitable incorporated organisation incorporated in England and Wales. The address of the registered office is 25 Lancaster Road, St Albans, Hertfordshire, AL1 4EP. Details of the principal activities are included in the Trustees' Report.
The financial statements are presented in pound Sterling and rounded to the nearest pound.
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 Charities Act 2011.
JAAGO Foundation UK 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.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Whilst the impact of the COVID-19 pandemic has been assessed by the Trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the Charity's future activities. However, taking into consideration the Charity's low operational expenditure and the level of reserves, the Trustees believe that the Charity will be able to continue in operational existence for the foreseeable future.
2.3 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 9
JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
2. Accounting policies (continued)
2.4 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 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.
2.5 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.
2.6 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.
2.7 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.
2.8 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.
2.9 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.
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JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
3. Income from donations and legacies
| Donations Total 2020 |
Unrestricted funds 2021 £ 3,044 452 |
Restricted funds 2021 £ 221,705 215,404 |
Total funds 2021 £ 224,749 215,856 |
Total funds 2020 £ 215,856 |
|---|---|---|---|---|
4. Analysis of expenditure on charitable activities
Summary by fund type
| Accountancy fees Donations Fundraising costs Commission Total 2020 |
Unrestricted funds 2021 £ 1,680 - - - 1,680 1,380 |
Restricted funds 2021 £ - 195,000 289 297 195,586 140,976 |
Total funds 2021 £ 1,680 195,000 289 297 197,266 142,356 |
Total funds 2020 £ 1,380 140,645 272 59 |
|---|---|---|---|---|
| 142,356 | ||||
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 6 April 2021, no Trustee expenses have been incurred (2020 - £NIL).
6. Debtors
| Due within one year Other debtors |
2021 £ 85 85 |
2020 £ - |
|---|---|---|
| - |
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JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
7. Creditors: Amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 3,060 | 1,380 |
8. Statement of funds Statement of funds - current year
| Unrestricted funds General funds Restricted funds Sponsor a child Teacher's salary Education for the under-privileged JAAGO youth programme Total of funds |
Balance at 7 April 2020 £ (766) 62,985 5,350 97,739 39,702 205,776 205,010 |
Income £ 3,044 46,853 - 146,012 28,840 221,705 224,749 |
Expenditure £ (1,680) (13,327) - (142,437) (39,822) (195,586) (197,266) |
Balance at 6 April 2021 £ 598 |
|---|---|---|---|---|
| 96,511 5,350 101,314 28,720 |
||||
| 231,895 | ||||
| 232,493 |
Restricted funds
Sponsor a child - These funds are specifically used to support individual children with educational assistance
Teachers salary - This fund is for the purpose of contributing to teachers’ salaries in Bangladesh.
Education for the under-privileged - Funds specifically raised for grants towards quality education.
JAAGO Youth Programme - Funds specifically raised to support youth action groups and campaigns aiming to empower the youth for a meaningful future.
Page 12
JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
8. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General funds Restricted funds Sponsor a child Teacher's salary Education for the under-privileged JAAGO youth programme Total of funds |
Balance at 7 April 2019 £ 162 57,149 10,700 63,499 - 131,348 131,510 |
Income £ 452 27,554 - 148,148 39,702 215,404 215,856 |
Expenditure £ (1,380) (21,718) (5,350) (113,908) - (140,976) (142,356) |
Balance at 6 April 2020 £ (766) 62,985 5,350 97,739 39,702 |
|---|---|---|---|---|
| 205,776 | ||||
| 205,010 |
Page 13
JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
9. Summary of funds
Summary of funds - current year
| Balance at 7 | Balance at 7 | Balance at 6 | ||
|---|---|---|---|---|
| April | 2020 | Income Expenditure |
April 2021 | |
| £ | £ £ |
£ | ||
| General funds | (766) | 3,044 (1,680) |
598 | |
| Restricted funds | 205,776 | 221,705 (195,586) |
231,895 | |
| 205,010 | 224,749 (197,266) |
232,493 | ||
| Summary of funds - prior year | ||||
| Balance at | Balance at | |||
| 7 April | 2019 | Income Expenditure |
6 April 2020 | |
| £ | £ £ |
£ | ||
| General funds | 162 | 452 (1,380) |
(766) | |
| Restricted funds | 131,348 | 215,404 (140,976) |
205,776 | |
| 131,510 | 215,856 (142,356) |
205,010 | ||
| Analysis of net assets between funds | ||||
| Analysis of net assets between funds - current year | ||||
| Unrestricted Restricted |
Total | |||
| funds funds |
funds | |||
| 2021 2021 |
2021 | |||
| £ £ |
£ | |||
| Current assets | 3,658 231,895 |
235,553 | ||
| Creditors due within one year | (3,060) - |
(3,060) | ||
| Total | 598 231,895 |
232,493 | ||
| Analysis of net assets between funds - prior year | ||||
| Unrestricted Restricted |
Total | |||
| funds funds |
funds | |||
| 2020 2020 |
2020 | |||
| £ £ |
£ | |||
| Current assets | 614 205,776 |
206,390 | ||
| Creditors due within one year | (1,380) - |
(1,380) | ||
| Total | (766) 205,776 |
205,010 |
10. Analysis of net assets between funds Analysis of net assets between funds - current year
Page 14
JAAGO Foundation UK
Notes to the financial statements for the year ended 6 April 2021
11. Related party transactions
The Charity has not entered into any related party transaction during the year (2020: Nil), nor are there any outstanding balances (2020: Nil) owing between related parties and the Charity at 6 April 2021.
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