## **Jigsaw Network CIO** 

Charity number 1186409 

Trustees’ Report 

And Financial Statements 

For the year ended 

31 December 2021 



## **Jigsaw Network CIO** 

|`Contents`<br>Contents|Page|
|---|---|
|`Legalandadministrativeinformation`<br>Legal and administrative information|1|
|`Trustees’report`<br>Trustees’ report|2 - 3|
|`Independentexaminer’sreport`<br>Independent examiner’s report|4|
|`Statementoffinancialactivities`<br>Statement of financial activities|5|
|`Balancesheet`<br>Balance sheet|6|
|`Notestothefinancialstatements`<br>Notes to the financial statements|`7-9`<br>7 -9|





Page 1 

## **Jigsaw Network CIO** 

## **Legal and administrative information** 

**Trustees** 

Debra Blair Neil Blair Neil Schiff 

## **Registered Office** 

23 Wykeham Road Hendon London NW4 2TB 

## **Details of Incorporation** 

The Charity was registered with the Charity Commission on 18 November 2019 as a Charitable Incorporated Organisation with reference number 1186409. It is governed by its Constitution adopted on 17 November 2019 

## **Bankers** 

Santander Bank, 164-167 Tottenham Court Road, London, W1T 7JE 

## **Independent Examiner** 

Claire Wills FCA DChA Saffery Champness LLP, 71 Queen Victoria Street, London EC4V 4BE 



Page 2 

## **Jigsaw Network CIO** 

Trustees’ Report for the period ended 31 December 2021 

The Trustees, submit their annual report and financial statements of Jigsaw Network CIO (the Charity) for the year ended 31 December 2021. 

## **Structure, Governance and Finance** 

The Charity was registered on 18 November 2019 as a charitable incorporated organisation. 

The trustees who served during the year were Debra Blair, Neil Blair and Neil Schiff. None of the trustees has any beneficial interest in the Charity. 

The management of the Charity is the responsibility of the trustees who are elected and co-opted under the terms of its constitution. The number of trustees shall not be subject to any maximum but shall not be less than two. The appointment and training of a new trustee is subject to the oversight of current trustees. 

There are no specific restrictions imposed by the governing document concerning the way the Charity can operate. 

## **Charity’s Objectives and Activities** 

The Charity was established to make grants and support activities and programmes that relieve poverty; advance the education and welfare of children; support citizenship and community development; promote the understanding of religion and racial harmony; all for the public benefit both in UK and the world.  The trustees actively search for opportunities to make grants, support new and existing projects and consider solicitations made to them. Grant opportunities are reviewed in periodic trustee meetings. 

## **Achievements and Performance** 

During the year the Charity made contact with a number of like-minded organisations to facilitate grants to support its charitable objectives. In the year the trustees awarded 39 grants (2020: 46) of £369,193 (2020: £93,084). The Trustees aim to offer grants to a broad range of organisations, whose work and output will make a direct and immediate impact for, supporting the objectives of the Charity. 

## **Financial Review** 

During the year under review the Charity generated income from donations of £488,860 (2020: £100,000) and made grants in support of its objectives of £369,193 (2020: £93,084) and after expenses generated a year end surplus of £117,867 (2020: £5,116). Its free reserves at 31 December 2021 were £122,983 (2020: £5,116). 

## **Fundraising** 

The Charity does not engage in large scale fund-raising activities like mass mailings, telephone fund-raising or door-to-door campaigns. The Charity does not employ a professional fundraiser nor engage the services of any third-party organisations to help raise funds. To this end, the trustees have not considered it necessary to sign up to any regulatory code of fundraising practice but aims to ensure that fundraising is done professionally and in accordance with good practice. Jigsaw Network has not received any complaints about any aspect of its fund-raising during 2021. 

## **Key Risks and Uncertainties** 

The trustees have assessed that there are no major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to potential risks. A risk assessment is considered by the Trustees once per year. 



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Page 4 

## **Jigsaw Network CIO** 

Independent examiner's report to the Trustees of Jigsaw Network CIO 

I report to the Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021, which are set out on pages 5 to 9. 

This report is made solely to the Charity’s Trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable 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 independent examiner’s work, for this report, or for the opinions I have formed. 

## **Responsibilities and basis of report** 

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. 

Having satisfied myself that the accounts of the Charity are not required to be audited 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 confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants of England and Wales. 

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: 

1. accounting records were not kept in respect of the Charity; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of the Charities 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 

4. 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. 

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 has not yet been signed] 

Claire Wills FCA DChA Saffery Champness LLP, 71 Queen Victoria Street, London EC4V 4BE 

> Date 28 July 2022 



Page 5 

## **Jigsaw Network CIO** 

Statement of Financial Activities 

for the period ended 31 December 2021 

||`Note`<br>Note|`1January2021`<br>1 January 2021|`18November2019`<br>18 November 2019|
|---|---|---|---|
|||`to`<br>to|`to`<br>to|
|||`31Dec2021`<br>31 Dec 2021|`31Dec2020`<br>31 Dec 2020|
|||`£`<br>£|`£`<br>£|
|`Income:`<br>**Income:**||||
|`Donationsandlegacies`<br>Donations and legacies||`488,860`<br>488,860|`100,000`<br>100,000|
|||----------|----------|
|`Totalincomingresources`<br>**Total incoming resources**||`488,860`<br>488,860|`100,000`<br>100,000|
|||______|_______|
|`Expenditure:`<br>**Expenditure:**||||
|`Costsofraisingfunds:`<br>_Costs of raising funds:_||||
|`Donorfundraisingcosts`<br>Donor fundraising costs||-|-|
|`Expenditureoncharitableactivities:`<br>_Expenditure on charitable activities:_||||
|`Charitabledonations`<br>Charitable donations|`5`<br>5|`369,193`<br>369,193|93,084|
|`Charitableactivities`<br>Charitable activities||`369,193 `<br>-<br>369,193|-<br>93,084|
|`Governancecosts- Independentexamination.`<br>Governance costs - Independent examination.||`1,800`<br>1,800|1,800|
|`Totalexpenditure`<br>**Total expenditure**||`370,993`<br>370,993|94,884|
|||________|________|
|`Netincomefortheyear`<br>**Net income for the year**||`117,867`<br>117,867|`5,116`<br>5,116|
|`Reconciliationoffunds:`<br>**Reconciliation of funds:**||||
|`Totalfundsbroughtforward`<br>Total funds brought forward||`5,116`<br>5,116|-|
|`Totalfundscarriedforward`<br>**Total funds carried forward**|`3`<br>3|`122,983`<br>122,983|5116|
|||======|======|



The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities and is unrestricted. 

The notes on pages 7 to 9 form part of these accounts. 



## 

||`Note`||`Asat`|`Asat`|
|---|---|---|---|---|
||||`31Dec2021`|`31Dec2021`|
||||`£`|`£`|
|`CurrentAssets`|||||
|`Debtors`<br>`-accrualforgiftaidtaxrelief`|||`92,780`|`-`|
|`Cashatbankandinhand`|||`32.033`|`6.916`|
||||`124,783`|`6,916`|
|`Creditors:Amountsfallingduewithinoneyear- accruals`|||`(1.800)`|`(1.800)`|
|`Netcurrentassets`|||`122,983`|`5,116`|
|`Netassets`|||`122,983`|`5,116`|
|`Funds`|||||
|`Unrestrictedfunds`|||`122.983`|`5.116`|
|`Totalfunds`||`3`|`122,983`|`5,116`|





Page 7 

Notes to the Accounts – 31 December 2021 

## **Jigsaw Network CIO** 

## 1. **Accounting Policies** 

## a. **Basis of Accounting** 

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP, second edition), and applicable UK accounting standards. 

Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash flow statement under SORP (FRS 102). 

The Charity constitutes a public benefit entity as defined by FRS 102. 

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern and have reasonable expectations that the Charity has access to adequate resources to continue its activities for the foreseeable future. Accordingly, they have adopted the going concern basis of accounting in preparing the annual financial statements. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The principal accounting policies adopted in the preparation of the financial statements are as follows: 

## b. **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. 

## c. 

## **Expenditure** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to each category of expense shown in the Statement of Financial Activities. 

Charitable activities include expenditure associated with grant making in furtherance of the charitable objects. Grant payments are recognised as expenditure when the conditions for their payment have been met or where there is constructive obligation to make a payment. 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. 

## d. **Income** 

Donations are accounted for when the Charity becomes entitled to the donation and any conditions for receipt are met and the amount is capable of measurement. 

## e. **Liability Recognition** 

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. 

## 

## f. **Taxation** 

The Charity is a registered charity and is not liable to United Kingdom income tax or corporation tax on its activities. 



Page   8 **Jigsaw Network CIO** 

Notes to the Accounts – 31 December 2021 

## 1. **Accounting Policies, continued** 

## g. **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. The charity does not have any bank loans. 

2. **Key Judgements and Estimates** 

In the application of the charity’s accounting policies, which are described in note 1, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.  The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant.  Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an on-going basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods. 

## 3. **Statement of Funds** 

|`ntofFunds`<br>**ent of Funds**|||||
|---|---|---|---|---|
||`1Jan2021`<br>1 Jan 2021|`Income`<br>Income|`Expenditure`<br>Expenditure|`31Dec2021`<br>31 Dec 2021|
|`UnrestrictedFunds`<br>**Unrestricted Funds**|||||
|`GeneralFund`<br>General Fund|`£5,116`<br>£5,116|`£488,860`<br>£488,860|`£370,993`<br>£370,993|`£122,983`<br>£122,983|



Unrestricted funds represent funds available to the trustees for the general purposes of the charity. 

## 4. **Analysis of staff costs, trustee remuneration and expenses** 

During the year no staff were employed, and no Trustee received any remuneration, benefits in kind or reimbursement of expenses. There have been no related party transactions in the period. 

## 5. **Charitable donations** 

During the course of the year to 31 December 2021 the Trustees approved 39 grants totalling £369,193, supporting a range of charitable activities to meet the objectives of the Charity. 

The recipients of the largest grants, constituting 90% of the total of grants were: 

|`Therecipientsofthelargest grants,constituting90%ofthetotalofgrantswere:`<br>The recipients of the largest grants, constituting 90% of the total of grants were:|`Therecipientsofthelargest grants,constituting90%ofthetotalofgrantswere:`<br>The recipients of the largest grants, constituting 90% of the total of grants were:|
|---|---|
|||
|`Grantmadeto:`<br>**Grant made to:**|**grant amount £s**|
|`JewishFuturesTrust`<br>`216,000`<br>`LumosFoundation`<br>`50,000`<br>`JewishCare`<br>`15,000`<br>`BritishFriendsofHatzolah`<br>`14,400`<br>`CampaignAgainstAnti-Semitism`<br>`10,000`<br>`ExeterCollege,Oxford`<br>`10,000`<br>`UnitedJewishAppeal`<br>`10,000`<br>`HopeforHeroes`<br>`5,670`<br>`Subtotal`<br>`331,070`<br>`31othergrantspaidintheyeareachoflessthan£5,000`<br>`38,123`<br>`Totalfortheyear`<br>`~~£369,193`<br>Jewish Futures Trust<br>216,000<br>Lumos Foundation<br>50,000<br>Jewish Care<br>15,000<br>British Friends of Hatzolah<br>14,400<br>Campaign Against Anti-Semitism<br>10,000<br>Exeter College, Oxford<br>10,000<br>United Jewish Appeal<br>10,000<br>Hope for Heroes<br> 5,670<br>Subtotal<br>331,070<br>31 other grants paid in the year each of less than £5,000<br> 38,123<br>Total for the year       £369,193||





Page   9 

## **Jigsaw Network CIO** 

Notes to the Accounts – 31 December 2021 

- 6 **Related party transactions of trustees** 

During the year, Neil Blair, made donations to the Charity of £371,000 (2020 £100,000). 

During the year the Charity made grants to Jewish Futures Trust, a charity of which Neil Schiff is a trustee, of £216,000 (2020 £nil)