REGISTERED COMPANY NUMBER: 10241187 (England and Wales) REGISTERED CHARITY NUMBER: 1170804
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
FOR
THE JONES COMMUNITY AND EDUCATION TRUST
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
THE JONES COMMUNITY AND EDUCATION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
The Trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ended 30 June 2023 which are also required to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS102).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The purposes of the charity are:
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To support the work of educational establishments;
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Sign post to business support services and digital skills-based education;
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Provide and assist in the provision of facilities for education in digital technology and entrepreneurship;
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Physically and digitally connect governing bodies, funds charities, entrepreneurs and organisations to benefit
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development of the digital community.
The Trustees have referred to current guidance from the Charity Commission on public benefit in producing this report and when reviewing aims and objectives and planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
The Community and Education Trust aims to give young people from every background, ability and socio-economic group the same opportunities to thrive. We do this primarily through community donations and educational outreach. Some of Greater Manchester's most in-need wards are on our doorstep in Hulme and our focus is set firmly on nurturing, inspiring and motivating children, young people and the wider community.
Decisions on where to concentrate our resource are centred around under-represented groups and our partnerships are often created with schools and communities in under-privileged areas.
Our short-term objectives are to support the development of young people with their basic needs and educational opportunities where relevant to help them towards equal career opportunities now and in the future. The long-term purpose of the Trust is to create sustainable resources that allow every child in our region to have an equal chance at a career of their choice in the technology, digital and creative sectors, through educational outreach as well as meeting the basic needs of people in disadvantage.
Success is measured by the number of young people we reach, as well as by the increasing number of partnerships created either with schools, industry bodies and community organisations that can add more resource to our efforts with young people. Within this, we measure the number of technology installations we achieve within schools or youth zones and the number of outreach appointments.
Significant activities
Much of our work previously revolved around delivering resources to directly make a difference, but with the impact of the pandemic and subsequent lockdowns, the Trust was severely limited within outreach programmes in 20/21 and early 22.
Additionally, the charity's relationship with UKFast and its educational resources was discontinued in May 2020. This gap is still being filled with new resources 3 years later.
With these changes in mind, 2022-23 has been a somewhat dormant year for the Trust, with trustees exploring avenues to continue activities in the coming year to further progress the Trust's foundation of outreach and community support.
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THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
OBJECTIVES AND ACTIVITIES
Grantmaking
Thus far in our time as a Charity Trust, we have not bestowed any grants.
We recognise that the Trust's activity has been notably lower than previous years and after a long search, took on a chief executive in May 2023. Part of the remit will be to create and develop grant giving opportunities for the charity. This will allow us to widen our donations community and reach more good causes in the region.
FINANCIAL REVIEW
Financial position
The charity is solely funded by a £5 million donation made in December 2018 by UKFast.net Limited. This donation is intended to cover all the charities ongoing expenses and any community donations for the foreseeable future. At present, the charity does not undertake fundraising activities and there are no immediate plans to do so.
At the end of the financial year, the charity held in excess of £4.6 million split across current and savings accounts, therefore the risk of the charity being unable to meet future expenses is very low given the small ongoing running costs.
The charity funds are held in bank accounts to minimise the risk of the donation diminishing in value (for example if shares were held for investment instead). Any alterations to the structure of the holding of funds must be agreed in advance by at least two trustees.
Reserves policy
The charity operates a reserves policy of holding at least two years' expenses in liquid cash in order to ensure the charity remains a going concern. The reserves at the end of the financial year are well in excess of this limit and would be able to sustain the charity for many years to come.
The charity currently has one part time employee (as of May 2023). Finance and administration is provided by a related third-party company and recharged at cost.
Aside from accountancy and audit fees there was no committed expenditure at the end of the financial year.
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THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
FUTURE PLANS
The Trust is working to continue its efforts to level the playing field for young people across Greater Manchester and beyond, through delivery of educational and basic needs support. We have increased our efforts with marginalised groups in society at large in the last 12 months setting plans for projects that support communities with extreme skills gaps.
Having evolved into a newly named Trust independent from previous association with UKFast, the educational support that we once delivered through the business has created a gap in our intended activity. As a means to bridge this gap we continue to explore new opportunities including working with technology firm Secarma to deliver training and upskilling in cybersecurity, as well as a potential DJ school, working with Manchester Recording Studios and regional music outreach agencies.
Delivering access to technology education through Secarma opens the door for underprivileged young people to one of the fastest growing areas of technology employment with job opportunities expected to grow by 18% in the next five years. Secarma has not been in a position to support our proposals in recent years but we hope this will change in 24/25.
Based in the same building as the Trust, Manchester Recording Studios is home to multi-million-pound recording facilities used by leading recording artists. A partnership with the Studios would deliver access for young people to learn music and audio production skills, granting access to a level of kit many seasoned producers would never have themselves.
We have been exploring a new partnership through the audio recording skills within Manchester recording Studios, with ex-offenders and current prison inmates. The scheme to teach podcasting skills has been pitched to HMP and begins a pilot programme in Summer 2023 in Hewell Prison, taking ex-offenders into the institution to assist with the process.
Our interest around the lack of resource for creative careers continues with a focus on the lack of social mobility for individuals from under-privileged communities. We're considering experiences aimed at instilling confidence in young people to explore a career in a creative field regardless of their socio-economic status. The creative industries are a key area of employment in Greater Manchester since the development and continued expansion of Media City.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution
Key Management Personnel
Management of the Trust is led by CEO Jonathan Bowers, appointed in May 2023 on a part time basis. He is guided by our trustees on funding decisions.
How our Charity is Constituted
UKFast Community and Education Trust, which has since become the Jones Community and Education Trust, is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 20 June 2016 as amended on 11 June 2019 and 4 November 2019. It is registered as a charity with the Charity Commission.
Trustees
The original trustees were appointed because of their historic commitment to the charitable practices of UKFast.Net, that led to the inauguration of the Trust. The decision making around funding of previous charitable donations and educational resources had been made by Lawrence and Gail Jones as majority shareholders in UKFast.Net Ltd pre 2019. Operational Direction had been delivered by Jonathan Bowers as the MD of UKFast.Net, now MD of The Gallery.com.
Having added Joe Cravagan in 2021, the board added Tegan Jones to the board of trustees in March 2023. Collectively, the trustees lead decision making on donations made and activity by the trust. The decision to enlist Tegan Jones is to start the long-term plan to expand the board of trustees, by creating a subsection of the board consisting of young people who can play an active part in representing the youth community and influencing funding that supports individuals of the same age range within the community.
Other changes to the board of trustees this year included the resignation of Lawrence Jones in February 2023 and Jonathan Bowers in April 2023, the latter moving to position of CEO in May 2023 in order to deliver more active services and provide day-to-day direction to the trust. This role, as indicated in previous trustees' reports is in order to pick up management duties that have been left since the resignation of Russell Feingold in 2019.
Relationships
Through our work in the community, we have supported projects and charities with proven track records for delivering sustainable and impactful programmes that directly benefit young people.
Insurance
In the opinion of the trustees, the charity has adequate insurance cover to help mitigate the financial impact of a range of risks and liabilities to the charity's assets.
Small companies' exemption
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
10241187 (England and Wales)
Registered Charity number
1170804
Registered office
3 Archway Birley Fields Manchester M15 5QJ
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THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
Trustees
Mr J Bowers Director (resigned 30.4.23) Mr L N Jones Director (resigned 28.2.23) Mrs G S Jones Director Mr J Cravagan Director Miss T Jones (appointed 8.3.23)
Independent Examiner
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
Approved by order of the board of trustees on 17 April 2024 and signed on its behalf by:
Mrs G S Jones - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JONES COMMUNITY AND EDUCATION TRUST
Independent examiner's report to the trustees of The Jones Community And Education Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
MARTIN STEVEN BARRETT
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
17 April 2024
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THE JONES COMMUNITY AND EDUCATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Support and governance costs NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted funds £ 49,358 10,885 38,473 4,610,764 4,649,237 |
2022 Total funds £ 7,825 13,370 (5,545) 4,616,309 4,610,764 |
|---|---|---|
The notes form part of these financial statements
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THE JONES COMMUNITY AND EDUCATION TRUST (REGISTERED NUMBER: 10241187)
BALANCE SHEET 30 JUNE 2023
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 6 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted funds £ 4,656,383 (7,146) 4,649,237 4,649,237 4,649,237 4,649,237 4,649,237 |
2022 Total funds £ 4,616,860 (6,096) 4,610,764 4,610,764 4,610,764 4,610,764 4,610,764 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 April 2024 and were signed on its behalf by:
Mrs G S Jones - Trustee
The notes form part of these financial statements
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THE JONES COMMUNITY AND EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Bank interest receivable | 49,358 | 7,825 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
continued...
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THE JONES COMMUNITY AND EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities Support and governance costs NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other related party creditors Accrued expenses 6. MOVEMENT IN FUNDS At 1.7.22 £ Unrestricted funds Unrestricted Funds 4,610,764 TOTAL FUNDS 4,610,764 |
2023 £ - 4,218 2,928 7,146 Net movement in funds £ 38,473 38,473 |
Unrestricted funds £ 7,825 13,370 (5,545) 4,616,309 4,610,764 2022 £ 2,496 - 3,600 6,096 At 30.6.23 £ 4,649,237 4,649,237 |
|
|---|---|---|---|
continued...
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THE JONES COMMUNITY AND EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds Unrestricted Funds 49,358 TOTAL FUNDS 49,358 Comparatives for movement in funds At 1.7.21 £ Unrestricted funds Unrestricted Funds 4,616,309 TOTAL FUNDS 4,616,309 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Unrestricted Funds 7,825 TOTAL FUNDS 7,825 |
Resources expended £ (10,885) (10,885) Net movement in funds £ (5,545) (5,545) Resources expended £ (13,370) (13,370) |
Movement in funds £ 38,473 38,473 At 30.6.22 £ 4,610,764 |
Movement in funds £ 38,473 38,473 At 30.6.22 £ 4,610,764 |
|---|---|---|---|
| 4,610,764 | |||
| Movement in funds £ (5,545) (5,545) |
|||
| (5,545) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Unrestricted Funds TOTAL FUNDS |
At 1.7.21 £ 4,616,309 4,616,309 |
Net movement in funds £ 32,928 32,928 |
At 30.6.23 £ 4,649,237 |
|---|---|---|---|
| 4,649,237 |
continued...
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THE JONES COMMUNITY AND EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted Funds | 57,183 | (24,255) | 32,928 |
| TOTAL FUNDS | 57,183 | (24,255) | 32,928 |
7. RELATED PARTY DISCLOSURES
During the year, TheGallery.com limited (entity with common directors) recharged the charity for staff costs of £8,815 (2022: £5,844). Included in creditors is an amount owed to TheGallery.com limited by the charity of £4,218 (2022 £2,496).
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