2024-03-31-accounts

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 2024

JAMAL EDWARDS SELF BELIEF TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Key Management

B Edwards T Artman T K Ojo P J Moore T Campbell

Ophelia Froud Jamila Brown Jasmine Dotiwala

(Appointed 20 March 2024) (Appointed 20 March 2024) (Appointed 20 March 2024)

Creative Director Impact Director Impact Director

Charity number 1199984 Company number 14001362 Registered office 180 Great Portland Street London W1W 5QZ

JAMAL EDWARDS SELF BELIEF TRUST

CONTENTS

	Page
Trustees' report	1 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 12

JAMAL EDWARDS SELF BELIEF TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in notes 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 Launch Pad - Early career pathway programmes will be piloted and tested including Open Days in partnership with local companies, masterclass sessions teaching career friendly topics on how to network, building a CV and interview techniques and mentor systems for young people with barriers to employment.

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 was £379m. This represents a £1.1bn cut in youth services over the last ten years and a 74% drop in investment in youth. 42% of councils in England and Wales do not have a youth centre.

2. Homelessness - Centrepoint estimated that 135,800 young people sought help from their local authority for homelessness in 2022-2023, a 5% increase from the same period the year before. This equates to a new person becoming homeless every 4 minutes.

3. Mental Health - In the last 3 years the likelihood of young people having a mental health concern has increased by 50%. 109,000 young people in the UK are waiting for access to youth mental health services.

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.

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JAMAL EDWARDS SELF BELIEF TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Public benefit

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 the year, the Charity was funded primarily through donations from corporate and private donors as well as a 2022 fundraising gala. The funds raised are being accumulated to:

1. Self Belief Launch Pad - Early career pathway programmes were researched and developed during this time.

2. Self Belief Sanctuary - The first building was donated to the Trust in April 2024. Based in Acton it will be used to house four young people at risk of homelessness with barriers to employment. We have worked closely with our partner Centrepoint to map out how this will be designed and run.

3. Trustees - Four new members of the Board have been recruited to provide the business experience (Tim Campbell, John Brennan), Communication experience (Jane Moore) and Governance experience (Dr Tessy Ojo) required to build the work of the Trust.

4. Partnerships - We have worked hard to scope and build strong partnerships for the future funding and impact work of the Trust

Solid Foundations

Alongside our commitment to serving our community we have worked this year to ensure that the Trust was built on solid foundations through:

1. Theory of Change

We worked closely with the award-winning youth charity Resurgo to develop and process our Theory of Change for the young people with barriers to employment that we will be serving.

2. Community Partnership Building

We worked to build partnerships within the local youth community to have access to young people for the Trust’s programmes. These included Resurgo’s Spear programme and Art Against Knives.

3. Communications

We built and launched a new website and rolled out a new communications programme which included a launch event on February 20th where we showcased the three Self Belief initiatives to the community and through the wider national press.

Financial review

During the year donations and fund-raising income of £40,488 (2023 - £472,367) were received.

Expenditure of £114,960 (2023 - £2,155) excluding support costs was incurred.

Cash at the end of the year amounted to £118,340 (2023 - £177,677).

Charitable support costs include £82,529 of consultancy fees. Consultants were engaged in the period to develop and prepare the 'Self Belief Launch Pad' and related projects.

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JAMAL EDWARDS SELF BELIEF TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 fundraising to meet the following objectives to be activated in the 2025 financial year:

• 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.

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 (Resigned 20 March 2024) B Edwards T Artman T K Ojo (Appointed 20 March 2024) P J Moore (Appointed 20 March 2024) T Campbell (Appointed 20 March 2024)

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JAMAL EDWARDS SELF BELIEF TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Recruitment and appointment of trustees

We are looking to appoint 1-3 new trustees who 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

23 December 2024

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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 2024.

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

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: 24 December 2024

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JAMAL EDWARDS SELF BELIEF TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
	Notes	£	£
Income from:
Donations and legacies	3	40,488	315,852
Charitable activities	4	-	156,500
Investments	5	-	15
Total income		40,488	472,367
Expenditure on:
Raising funds	6	2,155	256,011
Charitable activities
Support costs	7	135,294	13,628
Total expenditure		137,449	269,639
Net income/(expenditure) and movement in funds		(96,961)	202,728
Reconciliation of funds:
Fund balances at 1 April 2023		202,728	-
Fund balances at 31 March 2024		105,767	202,728

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

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JAMAL EDWARDS SELF BELIEF TRUST

BALANCE SHEET

AS AT 31 MARCH 2024

Notes Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Net assets excluding pension liability The funds of the charity Unrestricted funds	2024 £ 4,991 118,340 123,331 (17,564)	£ 105,767 105,767 105,767 105,767	2023 £ 63,125 177,677 240,802 (38,074)	£ 202,728
				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 2024.

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 23 December 2024

B Edwards

Trustee

Company registration number 14001362 (England and Wales)

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JAMAL EDWARDS SELF BELIEF TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

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JAMAL EDWARDS SELF BELIEF TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

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JAMAL EDWARDS SELF BELIEF TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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
		2024	2023
		£	£
	Donations and gifts	40,488	315,852
4	Income from charitable activities
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Fundraising income	-	156,500
5	Income from investments
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Interest receivable	-	15

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JAMAL EDWARDS SELF BELIEF TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Fundraising and publicity
Staging fundraising events	-	256,011
Workshops	2,155	-
	2,155	256,011
Expenditure on charitable activities
	Support	Support
	costs	costs
	2024	2023
	£	£
Direct costs
Finance and Bookkeeping fees	20,050	6,025
IT Costs	1,533	755
Bank fees	376	539
Accounting fees	7,426	6,309
Advertising & Promotion	9,956	-
Storage	6,960	-
Consultancy fees	82,529	-
Charity Launch Costs	6,464	-
	135,294	13,628
Analysis by fund
Unrestricted funds	135,294	13,628

7 Expenditure on charitable activities

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:

	2024	2023
	Number	Number
Total	-	-

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JAMAL EDWARDS SELF BELIEF TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Amounts falling due within one year: Trade debtors Other debtors Creditors: amounts falling due within one year Trade creditors Accruals and deferred income	2024 £ 1,129 3,862 4,991 2024 £ 10,238 7,326 17,564	2023 £ 62,097 1,028
		63,125
		2023 £ 32,174 5,900
		38,074

12 Creditors: amounts falling due within one year

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 1 April	Incoming	Resources	At 31 March
	2023	resources	expended	2024
	£	£	£	£
General funds	202,728	40,488	(137,449)	105,767
Previous year:	At 1 April	Incoming	Resources	At 31 March
	2022	resources	expended	2023
	£	£	£	£
General funds	-	472,367	(269,639)	202,728

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