2021-03-31-accounts - The Jewel Foundation

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COMPANY REGISTRATION NUMBER: 10677798 CHARITY REGISTRATION NUMBER: 1177160

THE JEWEL FOUNDATION Registered Charity and Company Limited by Guarantee Financial Statements

31 March 2021

CHARTWELL ACCOUNTANTS & BUSINESS CONSULTANTS LLP

Chartered Certified Accountants 47 Bury New Road Prestwich Manchester M25 9JY

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the Trustees	5
Statement of financial activities (including income and
expenditure account)	6
Statement of financial position	7
Notes to the financial statements	8

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report)

Year ended 31 March 2021

The Trustees, who are also the Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name THE JEWEL FOUNDATION Charity registration number 1177160 Company registration number 10677798

Principal office and registered Sedgley Community Hub office Bishops Road Prestwich Manchester M25 0HT The Trustees Mrs J S Myers Mr D B L Zucker Mr C Lewis Mr P Corn

Independent examiner M Guttentag FCCA of Chartwell Accountants and Business Consultants LLP 47 Bury New Road Prestwich Manchester M25 9JY

Structure, governance and management

The Jewel Foundation was incorporated on the 17th of March 2017 as a company Limited by Guarantee with company number 10677798. It was registered as a charity with the Charity Commission on the 14th February 2018 governed by its Memorandum and Articles. The charity registration number is 1177160.

Organisational structure

The Trustees administer the charity and they have appointed a Chief Executive to oversee the day to day affairs.

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage exposure to the major risks.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report) (continued)

Year ended 31 March 2021

Objectives and activities

The objectives of the charity are the relief of unemployment or financial hardship for the benefit of the public in such ways as may be thought fit including: (a) the facilitation and provision of services to deliver economic and employment opportunities; (b) to provide the necessary support for individuals to be self-sufficient and able to generate a sustainable income, either through assisting them to find employment or supporting them in self-employment.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

The charity’s key achievements were supporting 464 people over the year, with employment, training and business support.

Employment

We had a significant increase in the demands for our employment services with many individuals being impacted by Covid19. Substantial advice was provided to individuals about the Government’s Covid19 support packages available to them.

Our employment support includes comprehensive individual careers advice and a psychometric aptitude skills test, helping people identify their unique skills sets and career potential. Additionally, we provide support with CV writing, job applications and interview skills and provide follow up advice and guidance once a beneficiary has found a job.

 We engaged with 63 employers to identify opportunities for our candidates
 We placed 41 individuals in jobs sourced through our employer engagement
 A further 37 beneficiaries found employment opportunities as a result of our support
 We delivered a variety of online, virtual workshops in CV writing, interview techniques and how to look for jobs

Training

As soon as the effect of Covid19 and lockdowns was realised we identified a range of online courses with a focus on office skills such as Microsoft Office package including Word, Excel, Outlook and PowerPoint. We also identified an online bookkeeping course, computerised accounting for business. We were able to offer this at no cost due to Covid19 support from the Local Authority and National Government schemes.

A number of courses in Photoshop and Web building were delivered over zoom and we have recently completed a carers’ course for 20 individuals to help them move into the adult social care sector.

4 2

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report) (continued)

Year ended 31 March 2021

We also provided a substantial amount of digital support for individuals with limited computer skills and received a grant of 20 tablet devices and a small number of laptops which we were able to distribute to participants who didn’t have computers or internet access in their homes.

196 people enrolled on our training courses and all were supported throughout to ensure they received the maximum benefit from them.

Business Support

52 local businesses were supported with mentoring and advice. We have developed a wide range of business training courses to help businesses with sales, marketing and accounting. We also ran a number of business support workshops and networking events to help business owners share tips and insights.

General Overview

The charity has maintained strong partnerships with Local Authorities and statutory services to ensure the local Community had access to mainstream support and that these services understood the specific needs and requirements of our clients. The charity is proud of how these relationships have flourished over the year and has added real value to the work of the organisation.

We have also partnered with organisations which deliver similar services to learn best practice, share resources and minimise duplication.

As a result of the charity’s work, families are able to be self-sufficient, have the confidence and self-esteem that they are providing for their families and not have to rely on Government welfare support for daily living expenses. This as a whole enhances the general community spirit with residents having increased motivation and aspirations and are able themselves to give back through volunteering and mentoring to the more disadvantaged in the community

Financial review

During the period the charity received £8,582 in donations, £113,843 in grants and income of £1,730 from the provision of services. There was a surplus for the period of £43,050 which has been earmarked for the refurbishment of the charity’s premises.

Public benefit

Plans for future periods

In order to promote our objectives and activities in the coming year, we plan to undertake a major refurbishment of our premises which will enable us to offer an enhanced service to the community.

4 3

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report) (continued)

Year ended 31 March 2021

Our premises are situated in the heart of the local Community and we have plans to split the building into 2 parts, one part for the community to use for communal activities and one part specifically for economic support. This will include workspace for people starting out in business but don’t want the overheads of offices, a computer suite for people who need internet access for job searching and online training and a training area for classroom based learning and group sessions.

We have been very fortunate to have received extensive support for this project and have already secured significant funding for us to proceed.

Having a purpose built centre will improve the resources and services we are able to offer the community and provide a focal point in the community for those looking for work, training and business support.

The Trustees' annual report and the strategic report were approved on 11 November 2021 and signed on behalf of the board of Trustees by:

Mrs J Myers Trustee

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Independent Examiner's Report to the Trustees of THE JEWEL FOUNDATION

Year ended 31 March 2021

I report to the Trustees on my examination of the financial statements of THE JEWEL FOUNDATION ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

As the Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements 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
the financial statements 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.

M Guttentag FCCA of Chartwell Accountants and Business Consultants LLP Independent Examiner

47 Bury New Road Prestwich Manchester M25 9JY

11 November 2021

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

			2021		2020
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	69,925	52,500	122,425	78,949
Charitable activities	6	1,730	–	1,730	1,050
		`────────`	`────────`	`─────────`	`────────`
Total income		71,655	52,500	124,155	79,999
		`════════`	`════════`	`═════════`	`════════`
Expenditure
Expenditure on charitable activities	7,8	33,604	47,500	81,104	96,653
		`────────`	`────────`	`─────────`	`────────`
Total expenditure		33,604	47,500	81,104	96,653
		`════════`	`════════`	`═════════`	`════════`
		`────────`	`────────`	`─────────`	`────────`
Net income/(expenditure) and net
movement in funds		38,051	5,000	43,051	(16,654)
		`════════`	`════════`	`═════════`	`════════`
Reconciliation of funds
Total funds brought forward		60,873	10,000	70,873	87,527
		`────────`	`────────`	`─────────`	`────────`
Total funds carried forward		98,924	15,000	113,924	70,873
		`════════`	`════════`	`═════════`	`════════`

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 16 form part of these financial statements.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Statement of Financial Position

31 March 2021

		2021	2020
	Note	£	£
Fixed assets
Tangible fixed assets	13	11,587	12,392
Current assets
Debtors	14	2,171	–
Cash at bank and in hand		101,354	60,204
		`─────────`	`────────`
		103,525	60,204
Creditors: amounts falling due within one year	15	1,188	1,723
		`─────────`	`────────`
Net current assets		102,337	58,481
		`─────────`	`────────`
Total assets less current liabilities		113,924	70,873
		`─────────`	`────────`
Net assets		113,924	70,873
		`═════════`	`════════`
Funds of the charity
Restricted funds		15,000	10,000
Unrestricted funds		98,924	60,873
		`─────────`	`────────`
Total charity funds	17	113,924 `═════════`	70,873 `════════`

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies’ subject to the small companies' regime.

These financial statements were approved by the board of Trustees and authorised for issue on 11 November 2021, and are signed on behalf of the board by:

Mrs J Myers Trustee

The notes on pages 8 to 16 form part of these financial statements.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Sedgley Community Hub, Bishops Road, Prestwich, Manchester, M25 0HT.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment	-	33% straight line
Portacabin	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments (continued)

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The Company is limited by guarantee and does not have share capital. In the event of winding up, the members are liable to an amount not exceeding £10.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

5. Donations and legacies

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Donations
Donations		8,582	–	8,582
Grants
Grants receivable		61,343	52,500	113,843
		`────────`	`────────`	`─────────`
		69,925	52,500	122,425
		`════════`	`════════`	`═════════`
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Donations
Donations		3,881	–	3,881
Grants
Grants receivable		60,068	15,000	75,068
		`────────`	`────────`	`────────`
		63,949	15,000	78,949
		`════════`	`════════`	`════════`
Charitable activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Sale of goods/services as part of direct
charitable activities	1,730	1,730	1,050	1,050
	`═══════`	`═══════`	`═══════`	`═══════`
Expenditure on charitable activities by fund type
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Employment support		32,842	47,500	80,343
Support costs		762	–	761
		`────────`	`────────`	`────────`
		33,604	47,500	81,104
		`════════`	`════════`	`════════`
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Employment support		81,221	14,480	95,700
Support costs		952	–	953
		`────────`	`────────`	`────────`
		82,173	14,480	96,653
		`════════`	`════════`	`════════`

6. Charitable activities

7. Expenditure on charitable activities by fund type

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

8. Expenditure on charitable activities by activity type

		Activities
		undertaken		Total funds	Total fund
		directly Support	costs	2021	2020
		£	£	£	£
	Employment support	80,343	–	80,343	95,700
	Governance costs	–	761	761	953
		`────────`	`────`	`────────`	`────────`
		80,343	761	81,104	96,653
		`════════`	`════`	`════════`	`════════`
9.	Net income/(expenditure)
	Net income/(expenditure) is stated after charging/(crediting):
				2021	2020
				£	£
	Depreciation of tangible fixed assets			4,405	3,205
				`═══════`	`═══════`
10.	Independent examination fees
				2021	2020
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			600 `════`	600 `════`

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	63,387	60,706
Employer contributions to pension plans	575	337
	`────────`	`────────`
	63,962	61,043
	`════════`	`════════`

The average head count of employees during the year was 6 (2020: 5).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the Trustees.

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

13. Tangible fixed assets

		Equipment	Portacabin	Total
		£	£	£
	Cost
	At 1 April 2020	3,972	–	3,972
	Additions	3,600	12,540	16,140
		`───────`	`────────`	`────────`
	At 31 March 2021	7,572	12,540	20,112
		`═══════`	`════════`	`════════`
	Depreciation
	At 1 April 2020	2,239	1,881	4,120
	Charge for the year	2,524	1,881	4,405
		`───────`	`────────`	`────────`
	At 31 March 2021	4,763	3,762	8,525
		`═══════`	`════════`	`════════`
	Carrying amount
	At 31 March 2021	2,809	8,778	11,587
		`═══════`	`════════`	`════════`
	At 31 March 2020	1,733	(1,881)	(148)
		`═══════`	`════════`	`════════`
14.	Debtors
			2021	2020
			£	£
	Other debtors		2,171	–
			`═══════`	`════`
15.	Creditors: amounts falling due within one year
			2021	2020
			£	£
	Accruals and deferred income		613	613
	Social security and other taxes		–	1,110
	Other creditors		575	–
			`───────`	`───────`
			1,188	1,723
			`═══════`	`═══════`

16. Pensions and other post-retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £575 (2020: £337).

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At			At
	1 April 2020	Income	Expenditure	31 Mar 2021
	£	£	£	£
General funds	–	71,655	(33,604)	38,051
Designated Funds	60,873	–	–	60,873
	`────────`	`────────`	`────────`	`────────`
	60,873	71,655	(33,604)	98,924
	`════════`	`════════`	`════════`	`════════`
	At			At
	1 April 2019	Income	Expenditure	31 Mar 2020
	£	£	£	£
General funds	–	64,999	(82,173)	(17,174)
Designated Funds	78,047	–	–	78,047
	`────────`	`────────`	`────────`	`────────`
	78,047	64,999	(82,173)	60,873
	`════════`	`════════`	`════════`	`════════`
Restricted funds
	At			At
	1 April 2020	Income	Expenditure	31 Mar 2021
	£	£	£	£
Restricted Funds	10,000	52,500	(47,500)	15,000
	`════════`	`════════`	`════════`	`════════`
	At			At
	1 April 2019	Income	Expenditure	31 Mar 2020
	£	£	£	£
Restricted Funds	9,480	15,000	(14,480)	10,000
	`═══════`	`════════`	`════════`	`════════`

THE JEWEL FOUNDATION

Registered Charity - Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

18. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Tangible fixed assets	11,586	–	11,586
Current assets	88,526	15,000	103,526
Creditors less than 1 year	(1,188)	–	(1,188)
	`────────`	`────────`	`─────────`
Net assets	98,924	15,000	113,924
	`════════`	`════════`	`═════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Tangible fixed assets	12,391	–	12,391
Current assets	50,204	10,000	60,204
Creditors less than 1 year	(1,722)	–	(1,722)
	`────────`	`────────`	`────────`
Net assets	60,873	10,000	70,873
	`════════`	`════════`	`════════`