**Charity registration number 1199984**
**Company registration number 14001362 (England and Wales)**
## **JAMAL EDWARDS SELF BELIEF TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Key Management
## **Charity number**
**Company number Registered office**
O Brittan B Edwards T Artman
Ophelia Froud Jamila Brown Jasmine Dotiwala
1199984
14001362 180 Great Portland Street London W1W 5QZ
(Appointed 24 March 2022) (Appointed 24 March 2022) (Appointed 24 March 2022)
Creative Director Impact Director Impact Director
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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).
## **Objectives and activities**
The primary objectives of Jamal Edwards Self Belief Trust are threefold:
1. Creating self belief sanctuaries - Partnering with Centrepoint they will provide safe, sustainable and supportive housing for 18–24 year olds who are homeless or at risk of homelessness to support their journey into employment and permanent housing.
2. Creating a self belief community hub in West London - A creative community space for young and old to come together. It will provide opportunities and media equipment for young people to produce music and learn from industry-led workshops. There will also be life-skills teaching to include finance, nutrition, and wellbeing. On-site facilities will cater for breakfast and after school clubs while a soup kitchen will feed the vulnerable in the community.
3. Creating a self-belief apprenticeship scheme - Working with award-winning apprenticeship training provider Multiverse, we will be placing 31 apprentices with creative employment partners. Launching January 2024.
Our key mission for the charity is ‘unlocking purpose through self belief’ and is driven by the following social factors:
1. Youth Service Cuts - In 2020-21, local authority spending on youth services in England were £379m. This represents a £1.1bn cut in youth services over the last ten years and a 74% drop in investment in youth.
2. Homelessness - In 2022 there were 129,000 16-24 year olds experiencing or at risk of homelessness in the UK.
3. Mental health - In the last 3 years the likelihood of young people having a mental health concern has increased by 50%.
Alongside our commitment to serving our community is a desire to also protect our planet. We are therefore also developing a robust environmental strategy to fulfil the following pledges:
- Efficiency - We will power our spaces with 100% renewable electricity, and we will prioritise sourcing products and suppliers to reduce consumption across the board. We will also promote water conservation through low flow appliances, rainwater capture and operational policies. We will intentionally plant with native species, and work with suppliers equally committed to reducing water usage.
- Resource management – A key element of our business plan involves site restoration. We are prioritising bringing old buildings to new life, eliminating new material productions and utilising local supply chains. Additionally, we will make responsible choices about the products and materials we use and a commitment to eliminate single use plastics in all our operations.
- Community - The mental and physical wellbeing of the people using our spaces will be a key focus. Indoor planting installations, interactive outdoor gardens and enhanced air and water quality will all be built into the Sanctuaries and Hub. We will work with Centrepoint’s psychologist to maximise the mental health benefits of the homeless accommodation. Workshops and educational programming will also be shared with our community about how to live more sustainably.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Achievements and performance**
During the year, the Charity was funded primarily through donations from the corporate and private donors as well as a fundraising gala. The funds raised are being accumulated to fund the community hub as detailed in the 'plans for future periods' section of this Trustees report.
## **Financial review**
During the year donations and fund-raising income of £472,352 were received.
Expenditure of £256,011 excluding support costs was incurred. This was primarily on fundraising event costs and consultant fees.
Cash at the end of the year amounted to £177,677.
## **Reserves policy**
The Trustees review on a quarterly basis the charity’s development and operational plans, future funding needs and its overall resilience and financial stability to meet its charitable objectives.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Risk Management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have a devised a risk management strategy which comprises:
- An annual review of the principal risks and uncertainties that the charity faces. Policies, procedures, and systems will then be established to mitigate those risks identified in the annual review for example security checks for volunteers and staff who will work in the self belief sanctuary.
- An annual budget, and quarterly performance reporting against budget.
- The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
## **Plans for future periods**
We are still actively fund raising to meet the following objectives to be activated in the 2024 and 2025 financial years:
- Running and staffing the first self-belief sanctuary with round the clock centre point staff, coaching, and caring for homeless youths aged 18-24. £250,000 running costs have been earmarked to fund the project, and additional £100K has been allocated to designing and marketing the self belief app connecting young people and the community across the UK to mental health support, creative skill development and apprenticeship opportunities.
- £5m has been targeted to develop the first ever self belief community hub and self belief sanctuary in West London. This target includes £2.5m to buy the hub in West London, £1.5m to develop and equip the hub and £1m to develop and equip the self belief sanctuary.
- 2 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Structure, governance and management**
The charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
O Brittan (Appointed 24 March 2022) B Edwards (Appointed 24 March 2022) T Artman (Appointed 24 March 2022) P Summers (Appointed 31 May 2022 and resigned 28 October 2022) T Parry (Appointed 24 March 2022 and resigned 31 May 2022)
## _Recruitment and appointment of trustees_
There are currently no plans to recruit new trustees. However, as and when this is required, new Trustees will be recruited and appointed by the existing Board of Trustees based on skills requirements. Where necessary, external professional advice and support will be utilised for the recruitment.
None of the trustees have any beneficial interest in the company, and all trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
.............................. B Edwards **Trustee**
Date: .............................................
- 3 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF JAMAL EDWARDS SELF BELIEF TRUST**
I report to the trustees on my examination of the financial statements of Jamal Edwards Self Belief Trust (the charity) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (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**
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 am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 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
- 4 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 financial statements to be reached.
Simon Petrie FCCA
YMU Business Management Ltd 180 Great Portland Street London W1W 5QZ
Dated: .........................
- 4 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2023**|
||**Notes**|**£**|
|**Income from:**|||
|Donations and legacies|**3**|315,852|
|Charitable activities|**4**|156,500|
|Investments|**5**|15|
|**Total income**||472,367|
|**Expenditure on:**|||
|Raising funds|**6**|256,011|
|Charitable activities|||
|Support costs|**7**|13,628|
||||
|Total expenditure||269,639|
|**Net income and movement in funds**||202,728|
|**Reconciliation of funds:**|||
|Fund balances at 24 March 2022||-|
|**Fund balances at 31 March 2023**||202,728|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**Notes**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**11**
Net current assets
**The funds of the charity**
Unrestricted funds|**2023**
**£**
63,125
177,677
240,802
38,074|**£**
202,728|
|---|---|---|
|||202,728|
|||202,728|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
.............................. B Edwards **Trustee**
Company registration number 14001362 (England and Wales)
- 6 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Charity information**
Jamal Edwards Self Belief Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 180 Great Portland Street, London, W1W 5QZ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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 financial statements have been prepared under the historical cost convention. 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.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **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.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
- 8 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**||
|||**£**|**£**|
||Donations and gifts|315,852|-|
|**4**|**Income from charitable activities**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**||
|||**£**|**£**|
||Fundraising income|156,500|-|
|**5**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**||
|||**£**|**£**|
||Interest receivable|15|-|
|**6**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**||
|||**£**|**£**|
||**Fundraising and publicity**|||
||Fundraising events|256,011|-|
- 9 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **7 Expenditure on charitable activities**
||**Support**|
|---|---|
||**costs**|
||**2023**|
||**£**|
|Bookkeeping fees|6,025|
|IT Costs|755|
|Bank fees|539|
|Accountancy fees|6,309|
||13,628|
|**Analysis by fund**||
|Unrestricted funds|13,628|
## **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**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:||
|---|---|
||**2023**|
||**Number**|
|Total|-|
|**Debtors**||
||**2023**|
|**Amounts falling due within one year:**|**£**|
|Trade debtors|62,097|
|Other debtors|1,028|
||63,125|
## **10 Debtors**
- 10 -
## **JAMAL EDWARDS SELF BELIEF TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **11 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**||
|---|---|
|Trade creditors
Accruals and deferred income|**2023**
**£**
32,174
5,900|
||38,074|
## **12 Related party transactions**
## **Transactions with related parties**
During the year, project services were delivered by SBTV Global Ltd for £22,100. One of the previous Trustees is a director in this company.
||**2023**|
|---|---|
||**£**|
|Project Services|22,100|
## **13 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**24**|**March**|**Incoming**|**Resources**|**At**|**31 March**|
|---|---|---|---|---|---|---|---|
||||**2022**|**resources**|**expended**||**2023**|
||||**£**|**£**|**£**||**£**|
|General funds|||-|472,367|(269,639)||202,728|
- 11 -