Charity number: 1163656
Jaago Foundation
Unaudited
Trustees' report and financial statements
For the year ended 6 April 2024
Jaago Foundation
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 16 |
Jaago Foundation
Reference and administrative details of the Charity, its Trustees and advisers For the year ended 6 April 2024
Trustees
Miss S Donachie Mr J Punter Mr K Dhrubo Mrs R Morris Miss A Durham
Charity registered number
1163656
Principal office
17 Brook View Hitchin Hertfordshire SG4 9NY
Independent Examiner
Samantha Rouse FCCA DChA Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU
Bankers
HSBC UK 31 Chequer Street St Albans Hertfordshire AL1 3YN
Page 1
Jaago Foundation
Trustees' report For the year ended 6 April 2024
The Trustees present their annual report together with the financial statements of the Charity for the year ended 6 April 2024
Objectives and activities
a. Policies and objectives
The primary objective of JAAGO Foundation UK is to alleviate and prevent poverty in Bangladesh by providing educational support to children from socially and economically disadvantaged backgrounds. Additionally, the charity is committed to empowering young individuals in Bangladesh by enhancing their understanding and capacity on matters related to democracy and civic engagement. This is achieved through comprehensive training programmes, which educate youth about their role as citizens and support them in organising civic education awareness activities.
In setting objectives and planning activities, the Trustees have carefully considered the overarching guidance provided by the Charity Commission, particularly in relation to public benefit. The organisation adheres to the principles outlined in ‘Public Benefit: Running a Charity (PB2)’ to ensure transparency and accountability in its charitable efforts.
b. Activities undertaken to achieve objectives
The charity secures funding through various channels, including individual donations, sponsored events, and grants. These funds are then distributed to local organisations in Bangladesh that provide educational support for children and engage young individuals in raising awareness on democracy and civic participation.
All donations to beneficiary organisations follow a strict evaluation process, ensuring alignment with the objectives of JAAGO Foundation UK. This approach guarantees that funding is used effectively to achieve the charity’s mission.
c. Grant-making policies
JAAGO Foundation UK’s grant-making policy provides clear guidance on the types of projects the charity is willing to support. The Trustees are committed to funding grassroots organisations and initiatives that enhance the welfare of communities in Bangladesh. Specifically, they focus on educational and community development projects that benefit underprivileged children, with a strong emphasis on education, democracy, and sustainable livelihoods. This ensures that the charity’s contributions lead to long-term, positive change.
The Trustees will only support charitable organisations and community projects. Grant requests that will not normally be supported include:
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Contributions to general appeals or circulars;
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Religious activities that do not provide wider public benefit;
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Public bodies fulfilling their statutory obligations;
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Activities solely focused on animal welfare;
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Grant-making by other organisations.
d. Volunteers
The Trustees continue to volunteer their time, providing their services free of charge to oversee and manage the charity. During the fiscal year 2023-24, no additional volunteers were enlisted to support JAAGO Foundation UK’s activities.
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Jaago Foundation
Trustees' report (continued) For the year ended 6 April 2024
Achievements and performance
a. Review of activities
During the financial year, the Charity has seen a decrease in annual income by 25% against the previous reporting period.
Education for the underprivileged
Income for the Education for the Underprivileged programme that includes income from Global giving and Sponsor a child has increased. The organisation aims to sustain and build on this momentum in the coming years to reach even more children in need. JAAGO BD digital team has worked on the website - www.jaago.co.uk The website facilitates donations to the Education for the underprivileged. The available campaigns for donors to contribute to remain unchanged and include:
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Free-of-cost school for underprivileged children
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Feed the Children
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Educate a Girl
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Jaago Foundation
Trustees' report (continued) For the year ended 6 April 2024
Achievements and performance (continued)
Y outh Programme
The Youth Programme secured a new grant and funding from the National Endowment for Democracy (NED) for the fiscal period February 2023 - January 2025. The previous grant has been revised and agreement has been amended. The project is currently in the implementation phase, with activities progressing in alignment with its objectives.This initiative aims to empower youth leaders across Bangladesh, equipping them with the skills and knowledge to raise awareness of democracy and civic issues. As part of the engagement, the donor (NED) visited the JAGAO BD Headquarters on 21st September 2023, followed by a field visit to Gazipur on 24th September 2023. The visit was successful, with donors providing valuable feedback on areas for improvement, which have since been addressed in the implementation. Additionally, discussions were held on future collaboration and strategic direction.
Improving Menstrual Health Management Practice Among Underprivileged School Girls
This fiscal year, we received a new grant from the New Zealand Embassy to improve menstrual health management practices among underprivileged girls. The project is currently in the implementation phase, with activities progressing as planned to achieve its objectives. This initiative is focused on empowering young girls and promoting gender equality.
Like me Pte.
This fiscal year, we received a modest amount of restricted funds from Like Me Pte, designated specifically for purchasing stationery for underprivileged children.
b. Review of Expenditure
The organisation’s expenditure has significantly increased during this period as expenditure on charitable activities significantly increased. The organisation has issued more grants for projects that support the achievement of our organisational goals during the 2023-24 period. Alongside this, costs continue to rise in the UK however whilst expenditure has increased, this has largely been expenditure on charitable activities and the operational running costs of the charity have remained low during this period.
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. Previous challenges related to delays in disbursements have now been resolved. The Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding adopting the going concern basis can be found in the accounting policies.
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Jaago Foundation
Trustees' report (continued) For the year ended 6 April 2024
b. Reserves policy
Given the anticipated growth in the next financial year, the increased organisational expenditure and plans to employ our first staff member (refer to below ‘Constitution and Governance’ section), the Trustees have reviewed the reserves policy (February 2023). The Trustees agreed to increase the allocation of donations to administrative running costs from 1.5% to 12%, which has been communicated to donors and supporters of the organisation.
The charity aims to hold reserves of £16,128, equivalent to 6 months of expenditure. At the end of the year the reserves held was £22,056 which is above the amount predicted. This is due to the new grants that have been awarded.
All reserves are maintained at a minimum due to low operational expenditure, and no funds are held as a custodian trustee. The reserves are monitored every quarter.
Structure, governance and management
a. Constitution and Governance
Jaago Foundation is a registered charity (Charity Number: 1163656) and operates under a Charity Commission Scheme.
During the current fiscal year, the Trustees convened three quarterly meetings to review the organisation’s status and sustainability. Recognising the charity’s growth in recent years and the emerging opportunities that could further support its expansion, the Trustees have agreed to recruit a full-time staff member in the following year in 2024-25. This role will focus on fundraising and marketing through existing programmes while also exploring new grant opportunities.
To facilitate this transition, the Trustees have dedicated significant time to preparing the organisation for this next phase, consulting sector experts to ensure a smooth and strategic approach. Additionally, all required policies have been reviewed and revised, ensuring the charity remains compliant, effective, and well-positioned for future growth.
b. Methods of appointment or election of Trustees
The governance of the Charity falls under the responsibility of the Trustees, who are elected and co-opted in accordance with the terms of the Charity Commission Scheme. Each Trustee is appointed for a fixed term, typically three years, through a resolution passed at a properly convened meeting. Trustees have the possibility of being reappointed for additional fixed-term periods.
c. Financial risk management
The Trustees have evaluated the significant risks to which the Charity is exposed and are content that systems and procedures are in a position to mitigate exposure to these major risks.
Plans for future periods
During 2024/25, the charity will continue to provide grants to organisations operating in Bangladesh to provide educational support to children.
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Jaago Foundation
Trustees' report (continued) For the year ended 6 April 2024
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. 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:
................................................ ................................................ Miss S Donachie Mr J Punter Trustee Trustee Date: 5 February 2025
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Jaago Foundation
Independent examiner's report For the year ended 6 April 2024
Independent examiner's report to the Trustees of Jaago Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 6 April 2024.
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:
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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: S M Rouse Dated: 5 February 2025 S M Rouse FCCA DChA
Kreston Reeves LLP Chartered Accountants Canterbury Kent CT1 2TU
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Jaago Foundation
Statement of financial activities For the year ended 6 April 2024
| 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 2024 £ 21,959 21,959 2,960 2,960 18,999 3,057 18,999 22,056 |
Restricted funds 2024 £ 156,859 156,859 380,509 380,509 (223,650) 295,656 (223,650) 72,006 |
Total funds 2024 £ 178,818 178,818 383,469 383,469 (204,651) 298,713 (204,651) 94,062 |
Total funds 2023 £ 239,519 |
|---|---|---|---|---|
| 239,519 302,882 |
||||
| 302,882 (63,363) 362,076 (63,363) |
||||
| 298,713 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 16 form part of these financial statements.
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Jaago Foundation
Balance sheet As at 6 April 2024
| 2024 | 2024 | 2023 | 2023 | |||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Current assets | ||||||
| Cash at bank and in hand | 99,156 | 302,895 | ||||
| 99,156 | 302,895 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 7 | (5,094) | (4,182) | |||
| Total net assets | 94,062 | 298,713 | ||||
| Charity funds | ||||||
| Restricted funds | 8 | 72,006 | 295,656 | |||
| Unrestricted funds | 8 | 22,056 | 3,057 | |||
| Total funds | 94,062 | 298,713 | ||||
| The financial statements were approved and | authorised for issue by the Trustees and signed on their behalf by: | |||||
| ................................................ | ................................................ | |||||
| Miss S Donachie | Mr J Punter | |||||
| Trustee | Trustee | |||||
| Date: 5 February 2025 |
The notes on pages 10 to 16 form part of these financial statements.
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
1. General information
JAAGO Foundation UK is a charitable incorporated organisation incorporated in England and Wales, with charity number 1163656. The address of the registered office is 17 Brook View, Hitchin, Hertfordshire, SG4 9NY. 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 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. Given the anticipated growth in the next financial year, and increased organisational expenditure, the Trustees have reviewed the reserves policy (February 2023) and agreed to increase the allocation of donations to administrative running costs from 1.5% to 12%.
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.
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.
Grants are included in the Statement of financial activities on a receivable basis. 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.
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.
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
2. Accounting policies (continued)
2.4 Expenditure (continued)
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 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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
Notes to the financial statements For the year ended 6 April 2024
3. Income from donations and legacies
| Donations Grants Total 2023 |
Unrestricted funds 2024 £ 18,190 3,769 21,959 3,890 |
Restricted funds 2024 £ 122,455 34,404 156,859 235,629 |
Total funds 2024 £ 140,645 38,173 178,818 239,519 |
Total funds 2023 £ 239,519 - |
|---|---|---|---|---|
| 239,519 | ||||
4. Analysis of expenditure on charitable activities
Summary by fund type
| Independent examination fees Donations Fundraising costs Commission Total 2023 |
Unrestricted funds 2024 £ 2,940 - 20 - 2,960 2,334 |
Restricted funds 2024 £ - 380,000 365 144 380,509 300,548 |
Total 2024 £ 2,940 380,000 385 144 383,469 302,882 |
Total 2023 £ 2,334 300,000 357 191 |
|---|---|---|---|---|
| 302,882 | ||||
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
5. Analysis of expenditure by activities
| Independent examination fees Donations Fundraising costs Commission Total 2023 |
Activities undertaken directly 2024 £ - 380,000 385 144 380,529 300,548 |
Support costs 2024 £ 2,940 - - - 2,940 2,334 |
Total funds 2024 £ 2,940 380,000 385 144 383,469 302,882 |
Total funds 2023 £ 2,334 300,000 357 191 |
|---|---|---|---|---|
| 302,882 | ||||
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 6 April 2024, no Trustee expenses have been incurred (2023 - £NIL).
7. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2024 £ 2,154 2,940 5,094 |
2023 £ 2,028 2,154 |
|---|---|---|
| 4,182 |
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
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 Improving Menstrual Health Management Practice Among Underprivileged School Girls Like Me Pte Total of funds |
Balance at 7 April 2023 £ 3,057 137,982 10,288 17,419 129,967 - - 295,656 298,713 |
Income £ 21,959 - 4,400 117,445 27,641 6,763 610 156,859 178,818 |
Expenditure £ (2,960) - (5,015) (228,586) (140,143) (6,763) (2) (380,509) (383,469) |
Transfers in/out £ - (137,982) - 137,982 - - - - - |
Balance at 6 April 2024 £ 22,056 |
|---|---|---|---|---|---|
| - 9,673 44,260 17,465 - 608 |
|||||
| 72,006 | |||||
| 94,062 |
Restricted funds
Sponsor a child - These funds are specifically used to support individual children with educational assistance. During the year, the amount of the remaining funds of £137,982 were transferred to the Education for the under-privileged fund as the projects were deemed to be combined for the same purpose towards supporting quality education. Sponsor a Child donations are now being recognised under the umbrella of the Education for the under-priviliged.
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.
Improving Menstrual Health Management Practice Among Underprivileged School Girls - Funds received to improve menstrual health management practices among underprivileged girls.
Like me Pte. - Funds specifically for purchasing stationery for underprivileged children.
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
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 1 April 2022 £ 1,501 208,479 5,350 106,802 39,944 360,575 362,076 |
Income £ 3,890 27,210 4,950 91,377 112,092 235,629 239,519 |
Expenditure £ (2,334) (97,707) (12) (180,760) (22,069) (300,548) (302,882) |
Balance at 6 April 2023 £ 3,057 |
|---|---|---|---|---|
| 137,982 10,288 17,419 129,967 |
||||
| 295,656 | ||||
| 298,713 |
9. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 7 April 2023 £ 3,057 295,656 298,713 |
Income £ 21,959 156,859 178,818 Balance at 1 April 2022 £ 1,501 360,575 362,076 |
Expenditure £ (2,960) (380,509) (383,469) Income £ 3,890 235,629 239,519 |
Transfers in/out £ - - - Expenditure £ (2,334) (300,548) (302,882) |
Balance at 6 April 2024 £ 22,056 72,006 |
|---|---|---|---|---|---|
| 94,062 | |||||
| Balance at 6 April 2023 £ 3,057 295,656 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 298,713 |
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Jaago Foundation
Notes to the financial statements For the year ended 6 April 2024
10. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 27,150 (5,094) 22,056 |
Restricted funds 2024 £ 72,006 - 72,006 |
Total funds 2024 £ 99,156 (5,094) |
|---|---|---|---|
| 94,062 |
| Analysis of net assets between funds - prior period Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 7,239 (4,182) 3,057 |
Restricted funds 2023 £ 295,656 - 295,656 |
Total funds 2023 £ 302,895 (4,182) |
|---|---|---|---|
| 298,713 |
11. Related party transactions
Mrs R Morris, Trustee, is also a trustee of The Orphan Trust (a registered charity in England and Wales). During the year, JAAGO Foundation UK received a donation from this charity of £5,000 (2023: £5,000).
Mr K Dhrubo, Trustee, is also engaged in JAAGO Foundation Trust (a registered non-profit organisation in Bangladesh). During the year, JAAGO Foundation UK made a donation to JAAGO Foundation Trust of £380,000 (2023: £300,000).
At the balance sheet date there were no outstanding balances owing between related parties and the Charity (2023: £NIL).
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