Charity registration number: 1170063
Jacob Abraham Foundation
Annual Report and Financial Statements for the Year Ended 31 March 2022
HSJ Accountants Limited Severn House Hazell Drive Newport NP10 8FY
Jacob Abraham Foundation
Contents
| Trustees' Report | 1 to 5 |
|---|---|
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 16 |
Jacob Abraham Foundation
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2022.
Objectives and activities
Objects and aims
The objects are suicide intervention (1:1 counselling for vulnerable adults), suicide prevention (training and education) and postvention (bereavement support). This reporting year, the Jacob Abraham Foundation continued delivering on all three objects.
Objectives, strategies and activities
We were fully aware of the Charity Commission’s guidelines on public benefit when we planned our activities this year. We took the summary of the object and produced these objectives to drive us:
-Suicide Brief Intervention Training (prevention). -Support families and friends bereaved through suicide (postvention).
-1:1 counselling for suicidal people (intervention).
In the post-lockdown environment, we were able to conduct training again through face-to-face meetings. Counselling and bereavement support continued through face-to-face meetings but remote and outdoor services continued, where appropriate.
2021 was the first year of a three-year funding cycle from the National Lottery. This allowed the Jacob Abraham Foundation to establish a new office, including spaces for counselling, training and work/meeting spaces. It also allowed the charity to employ practitioners, as per our planned activities, to support a more pro-active and joined-up trio of services.
All trustees are aware of the declaration and all meetings have the items above on the standing agenda as the main order of business.
The National Lottery funding had allowed the Jacob Abraham Foundation to add to the workforce, including:
Bryn Morgan in Feb 21 as a Bereavement Counsellor and Trainer.
Amanda-Jane Sargent in Jan 21 as Office Manager and fund-raiser.
Dr Hannah Denman was also recruited in this reporting period as the Head of Training and counsellor; she would begin work after the reporting period.
The way that our new employees were soon working at full capacity to support our suicide services demonstrates that the demand for these types of services are increasing and the Jacob Abraham Foundation is constantly having to decline requests for services, as we are at capacity.
Public benefit
The Jacob Abraham Foundation aims to help prevent suicide through direct intervention with vulnerable people, raise awareness on mental health/suicide issues, promote positive mental health and support people bereaved through suicide in Wales.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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Jacob Abraham Foundation
Trustees' Report
Grant making policies
No grantmaking or investing was made by the charity. Volunteer contributions were growing again post-pandemic. In this period our main goals were: the recruitment of experienced counsellors, development of a safe working environment and establishing all services to fulfil the objectives in our bid to the National Lottery.
Achievements and performance
Key non-financial performance indicators
The charity’s main achievement was to recruit suitable and well-qualified personnel to meet our objectives. Recruitment was successful, all posts were filled and the office-space developed into a beneficial area to deliver those services.
This has allowed us to save the lives of dozens of individuals, to help 100s of people bereaving and vulnerable from suicide and to educate 1000s of people to better understand suicide and intervene where possible.
The feedback on all three services has been extremely positive and this has kept our employees focussed on high levels of service, using lived experiences and our unique experiences gained from being on the front line of the mental health issues we find in our area.
The JAF advertised for new trustees during this time to recruit volunteers to help with governance, fundraising and strategy.
Financial review
The charity has reported total incoming resources of £221,956 (2021: £105,194). After deducting associated expenses a surplus for the year has been reported of £61,070 (2021: £46,586).
The National Lottery, People and Places funding, has provided the much-needed funding and stability for the charity to provide all three services. Post-pandemic increased requirement for suicide support meant that the charity employees were at maximum capacity soon after joining us. Zurich Insurance provided further funding as part of their generous scheme to help local charities and this could be used to employ a Play Therapist and/or employ sessional workers to meet demand and holidays.
The founder and office manager have been developing strategies to become self-sufficient from charged services and other paid avenues. The demand was certainly present and the longer-term funding strategy was still being developed.
This reporting period was the most financially sound for the Jacob Abraham Foundations, since inception. In addition, ad hoc fund-raising activity had increased, which was a positive sign of local community members supporting the charity.
Policy on reserves
The charity aimed to hold at least £15,000 in the bank. This figure would be increased as fund-raising activities were allowed to progress post-pandemic and secure funding from the National Lottery would be received quarterly from 2021 to 2023. Trustees would monitor the accounts to potentially raise the reserve in mid-2022.
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Jacob Abraham Foundation
Trustees' Report
Reference and Administrative Details
Charity Registration Number: 1170063 Principal Office: First Floor, Unit 1 Regents Court Nettlefold Road Cardiff CF24 5JQ Independent Examiner: HSJ Accountants Limited Severn House Hazell Drive Newport NP10 8FY
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mrs Olivia Gaskell Mrs Rebecca Smart Mr Martin Hole Mr David Abraham
Senior Management / Leadership Mrs Nicola Abraham Team:
Structure, governance and management
Nature of governing document
JAcob Abraham Foundation is an Charitable Incorporated Organisation (CIO) governed by its' constitution adopted on the 7th November 2016.
Recruitment and appointment of trustees
Trustees' are identified and elected by the existing Board in accordance with the charity's constitution.
Organisational structure
The Jacob Abraham Foundation (JAF) is a member of the National Suicide Prevention Alliance, UK.
JAF has numerous safeguarding policies which include a child safeguarding statement, a charity safeguarding policy, health and safety, data protection, equal opportunities, lone working and a volunteers’ policy.
JAF has become members of Suicide, Self Harm Steering Group (Public Health Wales). Welsh Government Cross Party Group and Welsh National Advisory Group.
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Jacob Abraham Foundation
Trustees' Report
Major risks and management of those risks
Safeguarding
Risks to employees and vulnerable persons
All major risks are discussed and addressed in regular trustee meetings. Risks to employees and vulnerable persons are dealt with through monthly clinical supervision and safeguarding policies. The induction and training of new trustees will be dealt with in accordance with the Charity Commission, ‘Get to know your charity’ pack.
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
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Jacob Abraham Foundation
Trustees' Report
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
The annual report was approved by the trustees of the charity on 13 December 2022 and signed on its behalf by:
......................................... Mr Martin Hole Trustee
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Jacob Abraham Foundation
Independent Examiner's Report to the trustees of Jacob Abraham Foundation
I report to the trustees on my examination of the accounts of Jacob Abraham Foundation for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of Jacob Abraham Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Jacob Abraham Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material 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 Jacob Abraham Foundation as required by section 130 of the 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 accounting 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.
...................................... Mr Andrew Hill FCCA ACA DChA BFP ACCA
Severn House Hazell Drive Newport NP10 8FY
15 December 2022
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Jacob Abraham Foundation
Statement of Financial Activities for the Year Ended 31 March 2022
| Note Income and Endowments from: Donations and legacies Charitable activities Investment income 4 Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 Income and Endowments from: Donations and legacies Charitable activities Investment income Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 27,914 - 837 28,751 (440) (440) 28,311 28,311 60,495 88,806 Note 4 15 |
Restricted funds £ - 193,205 - 193,205 (160,446) (160,446) 32,759 32,759 - 32,759 Unrestricted funds £ 18,891 81,284 5,019 105,194 (58,608) (58,608) 46,586 46,586 13,908 60,494 |
Total 2022 £ 27,914 193,205 837 |
|---|---|---|---|
| 221,956 | |||
| (160,886) | |||
| (160,886) | |||
| 61,070 | |||
| 61,070 60,495 |
|||
| 121,565 | |||
| Total 2021 £ 18,891 81,284 5,019 |
|||
| 105,194 | |||
| (58,608) | |||
| (58,608) | |||
| 46,586 | |||
| 46,586 13,908 |
|||
| 60,494 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 15.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
Jacob Abraham Foundation
(Registration number: 1170063) Balance Sheet as at 31 March 2022
| Note Fixed assets Tangible assets 12 Current assets Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 15 |
2022 £ 1,560 120,989 (984) 120,005 121,565 32,759 88,806 121,565 |
2021 £ - 60,494 - |
|---|---|---|
| 60,494 | ||
| 60,494 | ||
| - 60,494 |
||
| 60,494 |
The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on 13 December 2022 and signed on their behalf by:
......................................... Mr Martin Hole Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Jacob Abraham Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
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.
Tangible fixed assets
Individual fixed assets costing £1,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Office equipment
Depreciation method and rate 33% straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
2 Income from donations and legacies
| Donations and legacies; Donations from individuals 3 Income from charitable activities Suicide Prevention & Intervention 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits 5 Expenditure on charitable activities Unrestricted funds Note General £ Suicide Prevention & Intervention 440 Staff costs - Allocated support costs - Governance costs - 440 |
Unrestricted funds General £ 27,914 27,914 Restricted funds £ 193,205 Unrestricted funds General £ 837 Restricted funds £ 25,750 108,940 21,237 4,519 160,446 |
Total 2022 £ 27,914 27,914 Total 2022 £ 193,205 Total 2022 £ 837 Total 2022 £ 26,190 108,940 21,237 4,519 160,886 |
Total 2021 £ 18,891 |
|---|---|---|---|
| 18,891 | |||
| Total 2021 £ 81,284 |
|||
| Total 2021 £ 5,019 |
|||
| Total 2021 £ 9,571 42,250 5,304 1,483 |
|||
| 58,608 |
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
6 Analysis of governance and support costs
Support costs allocated to charitable activities
Suicide Prevention & Intervention
| Basis of allocation A |
Governance costs £ 4,519 |
Information technology £ Administration costs £ 793 486 |
Premises costs including depreciation £ 17,355 |
Other support costs £ 2,603 |
Total 2022 £ 25,756 |
Total 2021 £ 6,787 |
|---|---|---|---|---|---|---|
Basis of allocation
Reference Method of allocation A 100% of associated support costs
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
Governance costs
| Governance costs | |||
|---|---|---|---|
| Independent examiner fees Examination of the financial statements Legal fees Other governance costs |
Restricted funds £ 984 2,416 1,119 4,519 |
Total 2022 £ 984 2,416 1,119 4,519 |
Total 2021 £ 984 241 258 |
| 1,483 |
7 Net incoming/outgoing resources
Net incoming resources for the year include:
| Depreciation of fixed assets | 2022 £ 440 |
|---|---|
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr David Abraham
During the year the charity made salary payments totalling £21,480 to Mrs N Abraham, the wife of Mr David Abraham.
This remuneration was paid to Mrs N Abraham having sought authority to do so from the Charity Commission.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
9 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2022 £ 98,839 7,310 2,791 108,940 |
2021 £ 40,052 - 2,198 |
| 42,250 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2022 | 2021 | |||
|---|---|---|---|---|
| No | No | |||
| Suicide Prevention & Intervention | 3 | 3 |
Contributions to the employee pension schemes for the year totalled £5,666 (2021 - £2,198).
No employee received emoluments of more than £60,000 during the year
10 Independent examiner's remuneration
| 10 Independent examiner's remuneration | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Examination of the financial statements | 984 | 984 |
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
12 Tangible fixed assets
| Cost Additions At 31 March 2022 Depreciation Charge for the year At 31 March 2022 Net book value At 31 March 2022 13 Cash and cash equivalents Cash at bank 14 Creditors: amounts falling due within one year Accruals |
Computer equipment £ 2,000 |
Total £ 2,000 2,000 440 440 1,560 2021 £ 60,494 |
||
|---|---|---|---|---|
| 2,000 | ||||
| 440 | ||||
| 440 | ||||
| 1,560 | ||||
| 2022 £ 120,989 |
||||
| 2022 £ 984 |
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Jacob Abraham Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
| 15 Funds Unrestricted funds General General Unrestricted Funds Restricted funds Big Lottery Fund Zurich Community Fund Total funds Unrestricted funds General General Unrestricted Funds |
Balance at 1 April 2021 £ 60,495 - - - 60,495 Balance at 1 April 2020 £ 13,908 |
Incoming resources £ 28,751 163,205 30,000 193,205 221,956 Incoming resources £ 105,194 |
Resources expended £ (440) (130,446) (30,000) (160,446) (160,886) Resources expended £ (58,608) |
Balance at 31 March 2022 £ 88,806 32,759 - |
|---|---|---|---|---|
| 32,759 | ||||
| 121,565 | ||||
| Balance at 31 March 2021 £ 60,494 |
The specific purposes for which the funds are to be applied are as follows:
The National Lottery and Zurich gives grants to organisations in the UK to help improve their communities, with money going to community groups, health, education and environment projects.
16 Analysis of net assets between funds
| 16 Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Current assets Current liabilities Total net assets Current assets |
Unrestricted funds General £ 1,560 88,230 (984) 88,806 |
Restricted funds £ - 32,759 - 32,759 Unrestricted funds General £ 60,494 |
Total funds at 31 March 2022 £ 1,560 120,989 (984) |
| 121,565 | |||
| Total funds at 31 March 2021 £ 60,494 |
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