Charity registration number 1187096
JASMINE CHARITABLE FOUNDATION ('TJCF') ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
JASMINE CHARITABLE FOUNDATION ('TJCF')
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr S L Atwell |
|---|---|
| J M Lucas | |
| D O Atwell | |
| S R Atwell | |
| Lady C E L Atwell | |
| Charity number | 1187096 |
| Principal address | 1 Vicarage Fields |
| Hanley Castle | |
| Worcester | |
| WR8 0BF | |
| Bankers | Lloyds Bank plc |
| Blackheath | |
| London | |
| BX1 1LT | |
| Investment advisors | True Potential LLP |
| Gateway West | |
| Newburn Riverside | |
| Newcastle Upon Tyne | |
| NE15 8NX |
JASMINE CHARITABLE FOUNDATION ('TJCF')
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Receipts and payments | 4 |
| Statement of assets and liabilities | 5 |
| Notes to the financial statements | 6 - 9 |
JASMINE CHARITABLE FOUNDATION ('TJCF')
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JULY 2022
The trustees present their annual report and financial statements for the year ended 31 July 2022.
The financial statements have been prepared on a receipts and payments basis and comply with the charity's trust deed and the Charities Act 2011.
Objectives and activities
The charity's objects are to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time, in particular but not limited to, relief and assistance for vulnerable people living in poverty and financial hardship with limited access to education by making grants to individuals and charitable bodies.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During this year we have agreed four new applications they were:
Oliver - Oliver was terminally ill and needed to travel abroad for life saving treatment, we had agreed to pay for his and his family travel costs, sadly Oliver passed away before his treatment.
Isabel - We were approached by the oncology unit at Worcester Royal as Isabel had a very short life expectancy, she was not expected to live to see Christmas. She had asked her mum if they could arrange Christmas with the family early as she would not be here. Linda, Trustee, contacted local businesses for support, the result was that Christmas was arranged for Isabel with all the trimmings and presents. The weekend was a great success for the family even though Isabel was poorly. Isabel sadly passed away early 2022.
Sam - Again contacted by the oncology unit in Worcester, Sam has an severe illness that leaves him in constant pain and the only relief was when he floats in warm water. We were very pleased to be able to arrange and supply a hot tub for Sam and the family to be able to use with him giving them all quality time together and relief for Sam.
Upton Scouts - We were notified that our local scout group were having to cancel the annual camp as parents could not afford the full cost. We met with the Group Scout leader who explained their predicament and we agreed to help with funding. All cubs and Scouts addended the camp and all benefitted for the experience.
In addition to the new grants made this year we have continued to support Keeley and her music studies. We have paid for upgrades to the viola plus this year we have also paid for twenty-six private lessons for her to advance her music skills. She continues to do exceptionally well.
Plans for the future
We will continue to support Keeley with her music education and expect to continue to fund additional private tuition for her.
It is our intention to continue to offer help direct to the person, family or group that needs the help in line with our objective we do not offer financial support to other Charities where any grant we make goes toward the running costs of their charity.
We have entered into discussions with two young families who due to illness and short life expectancies might require our help.
All trustees have agreed that they will remain in post and during the next year we will vote on our positions for the next four years.
Financial review
The charity has benefitted from investment income which has enabled the distribution of grants amounting £12,790. The activities of the year have increased the cash position from £7,161 to £91,667.
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JASMINE CHARITABLE FOUNDATION ('TJCF')
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
It is the policy of the charity that cash funds which have not been designated for a specific use should be maintained at a level to meet the minimal routine expenditure in managing the investment portfolio. The trustees considers that cash funds at this level will ensure that, they will be able to apply excess income to the charitable objects. This level of cash has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is an unincorporated entity governed by a trust deed dated 20 August 2019.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr S L Atwell
J M Lucas D O Atwell S R Atwell Lady C E L Atwell
Trustees are appointed following nomination and are provided with Charity Commission Guidance notes on the role of a trustee and financial probity.
There must be at least three Trustees. Apart from the first Trustees, every trustee must be appointed for a term of four years by resolution at the Trustees special meeting.
The charity is governed by the Trustees who are responsible for the awarding of grants.
The trustees' report was approved by the Board of Trustees.
Mr S L Atwell Trustee
Lady C E L Atwell Trustee
19 April 2023
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JASMINE CHARITABLE FOUNDATION ('TJCF')
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF JASMINE CHARITABLE FOUNDATION ('TJCF')
I report to the trustees on my examination of the financial statements of Jasmine Charitable Foundation ('TJCF') (the charity) for the year ended 31 July 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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 that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Sarah Morley BA (Hons) ACA Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS
Dated: 19 April 2023
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JASMINE CHARITABLE FOUNDATION ('TJCF')
RECEIPTS AND PAYMENTS ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Receipts and endowments from: | |||
| Donations and legacies | 2 | 18 | 1,916 |
| Investments | 3 | 2,059 | 1,205 |
| 2,077 | 3,121 | ||
| Sale of Investments | 4 | 138,349 | 41,826 |
| Total income | 140,426 | 44,947 | |
| Expenditure on: | |||
| Raising funds | 5 | 2,007 | 2,008 |
| Charitable activities | 6 | 15,512 | 17,155 |
| Purchase of investments | 38,401 | 31,023 | |
| Total resources expended | 55,920 | 50,186 | |
| Net income/(expenditure) for the year/ | |||
| Net cash movement | 84,506 | (5,239) | |
| Cash balances at 1 August 2021 | 7,161 | 12,400 | |
| Cash balances at 31 July 2022 | 91,667 | 7,161 |
All income and expenditure derive from continuing activities.
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JASMINE CHARITABLE FOUNDATION ('TJCF')
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 JULY 2022
| Notes Cash at bank and in hand Investment assets 10 |
2022 £ 91,667 383,249 |
2021 £ 7,161 |
|---|---|---|
| 483,212 |
The financial statements were approved by the Trustees on 19 April 2023
Mr S L Atwell Lady C E L Atwell Trustee Trustee
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JASMINE CHARITABLE FOUNDATION ('TJCF')
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
1 Accounting policies
Charity information
Jasmine Charitable Foundation ('TJCF') is an unincorporated charity registered in England & Wales, created by trust deed dated 20 August 2019. The principal office is 1 Vicarage Fields, Hanley Castle, Worcester, WR8 0BF.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document and the Charities Act 2011. The basis of preparation is on a receipts and payments basis. The charity is a Public Benefit Entity as defined by FRS102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when received.
Legacies are recognised on receipt.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is accounted for as incurred.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently adjusted for the cost of acquisition of new investments less the value of sales proceeds received on disposal.
Donated investments are carried at the perceived value at the time of the gift.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, and deposits held at call with banks.
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JASMINE CHARITABLE FOUNDATION ('TJCF')
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 18 | 408 |
| Legacies receivable | - | 1,508 |
| 18 | 1,916 |
3 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Income from listed investments | 2,059 | 1,205 |
| Other income | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Sales proceeds on disposal of investments | 138,349 | 41,826 |
| Raising funds | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Investment management | 2,007 | 2,008 |
| 2,007 | 2,008 |
4 Other income
5 Raising funds
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JASMINE CHARITABLE FOUNDATION ('TJCF')
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
6 Charitable activities
| Grants awarded Administra- tive costs 2022 2022 £ £ Other costs - 564 Professional fees - 1,500 - 2,064 Grant funding of activities 13,448 - 13,448 2,064 |
Total 2022 Grants awarded Administra- tive costs 2021 2021 £ £ £ 564 - - 1,500 - 2,943 2,064 - 2,943 13,448 14,212 - 15,512 14,212 2,943 |
Total 2021 £ - 2,943 |
|---|---|---|
| 2,943 14,212 |
||
| 17,155 |
7 Grants payable
| Grants | Grants | |
|---|---|---|
| awarded | awarded | |
| 2022 | 2021 | |
| £ | £ | |
| Grants to institutions (1 grants): | ||
| Upton scouts | 2,240 | - |
| Grants to individuals (2 grants) | 11,208 | 14,212 |
| 13,448 | 14,212 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
There were no employees during the year.
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JASMINE CHARITABLE FOUNDATION ('TJCF')
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
10 Fixed asset investments
| Listed investments £ Cost or valuation At 1 August 2021 478,212 Additions 38,401 Disposals (138,364) At 31 July 2022 378,249 Carrying amount At 31 July 2022 373,249 At 31 July 2021 483,212 |
Viola Total £ £ 5,000 483,212 - 38,401 - (138,364) 5,000 383,249 5,000 383,249 5,000 488,212 |
|---|---|
The market value of the listed investments at 31 July 2022 was £419,957 (2021- £546,470).
11 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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