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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 515235

Report of the Trustees and

Financial Statements for the Year Ended 31st March 2021

for

Jacob's Well Appeal

Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA

Jacob's Well Appeal

Contents of the Financial Statements for the year ended 31st March 2021

Page
Report of the Trustees 1 to 11
Report of the Independent Auditors 12 to 14
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 27

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

The trustees of the charity for the year ended 31 March 2021 were as follows:

Mr Michael Adams Chairman, financial subcommittee and
safeguarding subcommittee member
Dr Beryl Beynon Medical Director
Dr Alistair Robertson Medical Director and Safeguarding Officer for
Jacob's Well Appeal
Dr Margaret Robertson Medical Director, interim Treasurer, financial
subcommittee and safeguarding committee
member
Mrs Veronica Bemrose Financial subcommittee member
Mrs Betty Luciola
Mrs Margaret Hargreaves Financial subcommittee member
Mrs Elizabeth Lyle Pharmaceutical Lead and safeguarding
subcommittee member
Mr John Sutton
Employed staff:
Rev. John Beynon CEO and safeguarding subcommittee member
Mrs Bridget Conroy Office Manager
Mr Oliver Sexton Administrative and Financial assistant
Mrs Yvonne South Finance officer
Mr Anthony Walker Warehouse Manager
Mrs Sally Dunn Beverley Shop Manager
Mr David Mallender Bridlington Shop Manager
Mrs Julie Foster Beverley assistant Shop Manager
Mrs Lucy Mallender Bridlington Shop Manager (job share)

The Registered aims of Jacob's Well Appeal are:

a) To relieve need, hardship, sickness or distress of persons resident in Eastern Europe, the
Middle East, Asia and Africa and to assist persons in need of emergency disaster relief
wherever they may be.
b) To relieve need, hardship, sickness or distress of persons who are handicapped.
c) To promote the Christian faith.
d) To promote and advance education and facilitate teaching.

Page 1

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

OBJECTIVES AND ACTIVITIES Significant activities

Logistics

JWA has continued in its work of sending containers of medical, agricultural and educational aid abroad throughout this year, despite the severe restrictions that the Covid pandemic has made on our work and also our ability to fund raise. Added to this, year on year the regulations in the ports, customs and ministry of health increase and the cost of the containers and their transport also increases. Despite this, we have managed to send a total of 8 containers of aid and 2 curtain-sider lorries. At an average value of aid of £135,658 for each container, we have sent 4 to Burkina Faso, 1 to Zambia, 1 to Zimbabwe, 1 to Ghana and 1 to Sierra Leone. We have also sent 2 curtain-sider lorries to Moldova through ORA international with an average value of aid of £465,824.02.

We also continue to send out smaller consignments of aid to other charities, NGOs and private individuals in need. These consignments include parcels of colostomy, mobility equipment, medical disposable items and educational equipment. This year we sent aid to the Philippines, Nigeria, Iraq, Albania, Zimbabwe, Ukraine, Jordan, Gambia as well as small donations to Ghana and Romania.

We have one forty-foot HGV trailer for the containers in the UK. This takes the containers to the rail freight depot in Leeds or the port at Hull or Immingham and brings the empty one back to our yard. We also have 7 containers on site for storage. In addition, we receive rent from the County Choir for housing their container on site.

We have a small Ford transit van which is working well and a Mercedes Benz 3.5 tonnes van both of which are used to pick up donations of aid and items to be sold. They are also used to supply our shops with items for sale.

We also have a Toyota fork lift, which we use for moving and loading palletised loads. This is regularly maintained.

Andrew Lunn of Century Containers continues to do the necessary movements of our container trailer to deliver to the rail freight terminal at Leeds. Mission and Relief handle our international logistics whilst Musgraves handles our local freight.

Staffing and Volunteers

The Charity employs two part-time administrators under their line manager, Rev. John Beynon, the Organisation's leader.

The Beverley shop continues to be managed by Sally Dunn and Julie Foster, Lucy has joined Dave Mallender in running the Bridlington shop and Anthony Walker manages the warehouse.

Our team continues to be supplemented by up to 70 volunteers and in total our UK volunteers have worked 16,754 hours for Jacob's Well Appeal and this is valued at £229,530.

Recycling

We sort and sell a large quantity of clothes, books, bric-a-brac and other items that would otherwise be thrown away. Other household items are shipped overseas to countries where they will be useful. We are able to re-use most of the boxes in which we receive goods. Some of the clothes and items, including books that we cannot donate or sell in our shops or sales we sell to a firm called Colltex Ltd. Although some of the medical supplies we receive are out of date and cannot be used, many items which we receive can be re-used after careful resorting, checking or repair. Metal items and glass beyond further use are also recycled. Similarly, we recycle waste paper, magazines and cardboard. Waste is processed in the appropriate way, with separate processes for electrical waste, general waste, card and paper, medicines, controlled drugs, sharps and other medical items.

Page 2

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

OBJECTIVES AND ACTIVITIES

Public benefit

Jacob's Well Appeal continues to change the lives of many of the poorest and neediest people in the world through the following means:

a) Medical Aid. We have supplied many tonnes of invaluable medical supplies to hospitals in desperate need that would otherwise have to do without. This has undoubtedly saved many lives and improved the quality of many other people's lives. We have spent money on completing the ground floor of a hospital in the capital of Burkina Faso now offering maternity and surgical care as well as providing solar panels to reduce the electricity costs as well as being environmentally friendly. We have also supported the building of a medical facility in Banfora, Burkina Faso.

b) Educational Aid . We continue to support education by providing school furniture, computers and equipment. This is invaluable to schools in Africa where the children would otherwise have little educational equipment and would have to sit and write on the floor. We have also supplied solar panels for electricity to schools and provided housing for vulnerable girls and boys to enable them to complete their education. The school bus in Ouag adougou and the minibus in Sierra Leone are still being used to great benefit.

c) Agricultural Aid. We are increasingly helping deprived communities to develop their agriculture and thus be able to grow more food through our seedbank as well as dry season farming projects. According to the World Health Organisation, around 45% of the deaths among children under 5 years of age are linked to undernutrition. We have also supported our partner in Bobo-Dioulasso, Burkina Faso to start an agricultural college attached to their school.

d) Fruit Trees . We continue to plant fruit tree orchards attached to communities or schools for the benefit of the community or children, providing food, vitamin A (mangoes) and a saleable crop.

e) Water Aid . Due to the generosity of our donors, we have been able to establish or repair several boreholes, and we are currently negotiating the shipment of a borehole drilling machine to West Africa.

f) Social Care . Jacob's Well Appeal supports disabled and disadvantaged people through their shops and warehouse.

g) Relieving poverty . We run several projects overseas, including mango plantations and dry season farming that provide a means for poor people to generate an income. Within the UK a lot of our activities are focused around helping people in social or economic distress. Our shop in Bridlington has been donating food to the poor in Bridl ington during the Covid crisis and has now established a food bank.

Page 3

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

Romania

The four houses for families with special needs in Siret are all currently managed by the town council and the director of the local hospital and all are fully occupied. The town council is paying for the running costs of these units. We are in the process of closing our Romanian Branch and handing over the four houses we have to the Town Hall for the long term benefit of the people with special needs in the area.

Ghana

We have sent one container to Ghana this year, to the nursing college at Lawra in Upper West Region of Ghana. This sends nurses to the local community clinics, which will benefit from the items that we have sent. Lawra was also happy to take some expired items which they can use for training purposes.

We are still working through the charity Coalition for Change in Ghana, who run our seedbank and also some mango plantations and dry season farming projects. Another NGO, Sahara Advocates for Change, also runs some of our projects.

This year, with their help, we have planted two fruit tree plantations in the Upper West region of Ghana and also dug a borehole in this area and also paid for the repair of another. We have also run three seed bank projects with women from communities in the Upper East region of Ghana, near Wa. We provide seed and fertiliser to poor communities at planting time and recoup the same weight of seed and sufficient to cover the fertiliser costs from their harvest, enabling them to keep the considerable surplus. We used our tractors to plough for the community at a reduced rate for the women who use the seed bank. We have also run a groundnut and maize project.

We have done one literacy project and soap making training with widows in Upper West Ghana using money donated by the Souter Trust.

We were given money by the Skegness Rotary Club to extend the dry season project in Sing, Upper East Ghana which has been a great success. Ripon Rotary club donated money which paid for three smaller dry season projects for communities very isolated in the Upper West and these have continued to be successful. We paid for a water pump for one of them so that it could continue.

We also provided a small medical block in the prison at Wa, which had no isolation area or treatment area for prisoners, many of them in prison due to debt.

Miss Elizabeth Lyle, one of our trustees, visited the communities using the seed bank, the dry season farming projects and also some of the fruit tree plantations in February 2021.

Burkina Faso

The work of our partners in Burkina Faso is continuing to expand and develop in new areas. Unfortunately, the current security situation in Burkina Faso has deteriorated further and the covid pandemic has meant less foreign aid and worsening hunger and poverty.

The Bobo-Dioulassou ABC school now has an agricultural college. We continue to sell cards to raise money for chickens to support this project. The girls' refuge which is sited on this land was paid for by a generous donation to Jacob's Well Appeal and is now taking girls, and we have now been able to build a similar home for vulnerable boys, sited near the school. Jacob's Well Appeal also runs a solar powered lamp project to provide every child at the school with a solar lamp that will enable them to do homework in the evening as the sun sets at 6pm every day and the homes have no electricity. Due to the desperate situation regarding food, the school has set up a large area of land for dry season farming. Jacob's Well Appeal was able to provide finance for a water tower and pump to enable this project to be successful.

In Ouagadougou we continue to support the work of the Village of Hope, which manages a primary and secondary boarding school and also a small hospital. They also run a school for disadvantaged girls teaching sewing, hairdressing and beauty therapy called the Village of Opportunity which we also support. They have a small animal farm on the school site which they use to teach farming skills to the pupils as well as breeding pigs and making yoghurt. This is a boarding school bringing children from distant villages that would otherwise have no hope of attending school. Last year Acklam's Coaches donated a coach for Jacob's Well Appeal to transport to Burkina Faso for these children.

Our partners run a clinic/small hospital in the capital city and we have completed the work on the ground floor of the hospital and we have started now providing solar panels to significantly reduce their electricity costs.

Page 4

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

In Banfora we have completed work on a medical clinic which will provide health care for the poor in this city. We have been sending medical supplies to this area for many years and this clinic will specialise in care of people with physical disabilities and mental health problems, which are largely ignored in Burkina Faso, as well as treating general medical problems.

We have not planted any fruit trees in Burkina Faso this year due to the security situation.

We continue to support the work of these schools by administering a sponsorship scheme, whereby donors in the UK can pay monthly to support the education, nutrition and medical care of a school child.

Kenya

We continue to support the work of the ABC schools in Nairobi and Loitokitok. We support the work of these schools by administering a sponsorship scheme, whereby donors in the UK can pay monthly to support the education, nutrition and medical care of a school child. We have struggled in the past to get containers into Kenya because of the logistical situation and were unable to send any this year.

Moldova

This eastern European country is very poor and we work with the international charity ORA to support their work in this country. We have sent 2 curtain-sider lorries to Moldova this year with medical, stoma and educational aid.

Sierra Leone

Jacob's Well Appeal has sent a medical container this year via our MUO with the government. Jacob's Well Appeal has also provided a minibus to the Sierra Leone Autistic School to enable them to transport their children to and from school last year and this is still in use. We are planning to send a container to help the work of this school next year.

Afghanistan

We are still working through our partners in Afghanistan and we recently received a certificate of appreciation from the director of the Feroz Nakchir District Health Centre for constructing two reception rooms inside the clinic through the Halo Trust.

Smaller Supplies

We continue to send out smaller consignments of aid to other charities, NGO's and private individuals in need.

Within the UK

Whilst our main focus is to help people overseas, we also try to help those who are socially, economically or physically disadvantaged. Such activities include;

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Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

Summary of aid distributed

Country of Clothes & Toys &
Destination Education Food Building Agriculture Shoes household
Ghana - 4,875 - - - -
Zambia - - - - - -
Moldova 5,000 - - - 50 -
Burkina Faso
1 2,000 - - - - -
Burkina Faso
2 2,145 - 500 215 287 3,094
Serra Leone - - - - - -
Zimbabwe 108 - - - 1,250 2,150
Moldova 2 - - - - 1,500 -
Burkina Faso
3 6,303 1,471 2,150 2,100 2,510 -
Burkina Faso
4 1,640 - 750 300 1,254 410
Ghana 2 895 - - - - -
Zambia 2 1,145 - - - - 6,760
Cameroon - - - - - -
Small Don's - - - - - -
Total 19,236 6,346 3,400 2,615 6,851 13,224
Donated
Country of Medicines Hygien Medical Medical Total by
Destination and Creams e Ostomy Equipment Disposables container
Ghana 2,320 - 268,335 2,450 160,278 438,258
Zambia - - 32,098 1,450 9,082 42,630
Moldova 1,768 - 337,024 11,845 176,606 532,293
Burkina Faso
1 - - - - - 2,000
Burkina Faso
2 4,636 - - 3,110 11,316 26,113
Sierra Leone - - - 14,830 8,428 23,258
Zimbabwe 5,066 - - 16,690 80,358 105,622
Moldova 2 6,183 - 347,937 3,316 40,419 399,355
Burkina Faso
3 6,261 262 - 37,350 3,992 62,399
Burkina Faso
4 18,032 - - 6,320 13,971 42,677
Ghana 2 17,823 - 277,965 4,750 102,566 403,999
Zambia 2 13,471 - 170,125 9,900 64,388 265,789
Cameroon 29,214 - - 10,255 40,021 79,490
Small Don's - - 12,952 - - 12,952
Total 104,774 262 1,446,436 122,266 711,425 2,436,835

Our Shops

Our two shops serve to raise funds for our overseas work and also to promote the Christian faith through providing quality Christian literature and bibles to local churches and their members. They are also community hubs, seeking to help members of the community who are in need.

The shop in Beverley continues to function well, though there is a constant battle to find enough volunteers to maintain adequate staffing levels. We now have a patio which has been extremely popular, particularly as it has extended the café to outside. During the covid pandemic this has been particularly welcome.

It is the fourth year for the charity plus shop in Bridlington. It is performing a very positive role as a community hub, which has helped various people in need and is reaching out to the homeless and needy. Unfortunately, it is struggling to make a profit.

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Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

Our franchise shops in Withernsea and Filey, run by the Gateway charity, which helped needy people in the Withernsea and Filey areas, were not economically viable so have had to close.

Coronavirus Pandemic

Due to the worldwide coronavirus pandemic our shops and warehouse were closed from the 23rd March 2020 as the UK was locked down and all staff except our CEO John Beynon and Yvonne South, our finance officer, were furloughed.

As the lockdown eased we were able to 1st open our warehouse and then, in July, re-open our shops. Due to regulations, we had to make significant alterations in our working practices in both the shops and the warehouse to comply with covid regulations. This meant that people had to wear face masks and we had to limit the number of people in a given space. Our cafes were shut most of the year.

The second lockdown occurred in November and the third in January 2021. We had already decided to close the charity for the 1st 2 weeks of February so the last lockdown had less impact on us. All this has meant that the shops takings have been severely reduced and that the number of containers sent abroad is slightly less than usual. Our donations (general giving) is down by 50% and we would have struggled financially this year if not for government grants and a legacy, for which we were very grateful.

Staff and volunteers

Our team of volunteer has fallen, as many left during the pandemic and are slowly returning to the charity.

In total this year our UK volunteers worked 16,754 hours for Jacob's Well Appeal. This is valued by volunteering England at £229,530.

We would like to take this opportunity to thank all our volunteers and staff in the UK and abroad who work so hard to enable us to deliver our aid.

Supporters

We would also like to thank our many supporters and donors without whom nothing would be possible.

Page 7

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

FINANCIAL REVIEW Financial review

Income

Our main sources of income are from donations made by the many people and groups who support us; from our charity shops in Beverley and Bridlington and from our other sales outlets, including street and warehouse sales and Ebay. Because of the very low interest rates available for our money in the bank, the trustees have invested £30,000 that will not be used for 5 years unless the situation merits its use and this forms part of the Charity's reserve funds. We were able to leave these funds intact although income fell dramatically because the shops and warehouse were closed for several months because of the Covid pandemic.

The CEO and other volunteers give many talks to interested groups, particularly in East Yorkshire. These often result in generous donations of money or relief goods. We also continue to benefit from legacies.

Expenditure

  1. Maintaining our administrative centre and warehouse where aid supplies are sorted, listed and despatched, including paying the salaries of staff who work there.

  2. Maintaining and running our two charity shops, including the salaries of the managers who work there.

  3. Transporting donated items to the warehouse or to and from the shops and taking loaded containers to the appropriate terminals.

  4. Paying for shipping, including agents' fees and container transport.

  5. Where funds permit, purchasing medicines to supplement donated medical supplies and to add in medicines appropriate to tropical or other local needs, together with equipment for supported facilities.

  6. Purchasing educational and agricultural equipment as money allows to be sent to our projects overseas.

Reserves

The Trustees' policy is to hold sufficient funds (£30,000) to enable the charity to run efficiently for a period of approximately 3 months. At the same time, it ensures that it has sufficient in reserve to be able to meet any budgeted activities and unexpected contingencies. The level of reserves is monitored and reviewed by the Trustees regularly in the light of past and planned expenditure.

Future Developments and Going Concern

The trustees have made the decision that from 1 April 2022 the operations of this unincorporated charity will be transferred to a newly formed Charitable Incorporated Organisation.

As a result of this the financial statements have not been prepared on a going concern basis.

Page 8

Jacob's Well Appeal

Report of the Trustees

for the year ended 31st March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Jacob's Well Appeal was founded in February 1982 and initially known as Jacob's Well Polish Appeal. It was registered with the Charity Commission in July 1984. In Afghanistan the Charity is commonly known as JWA. The registered aims have since been extended to those above to take account of the widened geographical area covered and the extended range of activities. The governing document is the written constitution. Jacob's Well Appeal is an unincorporated association. We aim to convert to a Charitable Incorporated Organisation and have registered as such but we are still trying to find a new bank.

There are up to 12 Trustees, one third of whom are elected each year at the Annual General Meeting by the Members. Election is for a period of 3 years, renewable if re-elected. The Chairman, Medical Directors and Treasurer are elected annually at the Annual General Meeting and are ex-officio Trustees. The Trustees meet not less than 5 times in each Charity year to review progress and policy. In general, when vacancies arise, potential Trustees are invited to stand for election from the many people in contact with the Charity. They are usually people who have a particular skill or experience which will benefit the Trustee body, such as legal knowledge, accountancy, management, medical, caring or practical ability or a proven ability as a volunteer in the charity field. They are introduced to the role by provision of documents outlining the role and the responsibilities involved, an explanation of the activities of the Charity, information about its history, governance and financial functioning.

Subcommittees are appointed to make recommendations to the Trustees where an issue needs investigation.

Supporters are kept in touch with the charity by a regularly updated web-site, our Facebook page, twitter account and a newsletter which is posted or emailed twice each year to keep them in touch with current events. Any person who accepts the registered aims of the charity may apply to become a member with the right to vote at General Meetings.

Jacob's Well Appeal has a Memorandum of Understanding (MOU) with the Ghanaian Government and with the Government of Sierra Leone. Other organisations with whom we have co-operated within the last couple of years include; the National University Kyiv-Mohyla Academy in Ukraine, the Red Cross, the Soroptimists, Diabetes UK, the Ileostomy Association, Rotary and Inner Wheel Clubs, local Churches, Inter-care, Real Aid, ORA in Moldova, and Thornton Ross Ltd.

We work closely with partner charities abroad including Coalition for Change (C4C), Sahara Advocates for Change and the King's Village in Ghana, ABC Children's Aid and the Village of Hope in Burkina Faso, ABC Children's Aid in Kenya, Uganda and Iceland, Samara's aid foundation, World Share, Physionet, Bulgaria aid, ORA International in Moldova and others including Mercy Mission Naivasha Kenya.

Jacob's Well Appeal has signed up to the East Riding Compact - the local partnership agreement between public sector and voluntary & community sector organisations.

Risk management

The Risk Assessments in relation to the shop, warehouse practice, transport and office are being regularly reviewed. The forklift and vehicles have been maintained according to manufacturers' recommendations and subjected to Loler examinations and MOTs etc. as required and a training session for all our forklift truck drivers is organised as per guidelines. All firefighting and electrical equipment has been checked by external contractors and practices held.

Different aspects of the activities of the Charity are subject to control in conformity with legislation by the Home Office, the Medicines and Healthcare Products Regulatory Agency, the Environment Agency, the Health and Safety Executive and the VAT Inspector, as well as the Local Authority: Trading Standards Officer re: Charity Shop, Food Safety Officer re: Food, Storage and Export, and other guidance such as Internal Transport Safety.

Page 9

Jacob's Well Appeal

Report of the Trustees for the year ended 31st March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Valuing the Medical Aid

In 2015 our office administrator priced every item, by weight, using the NHS pricing guide. The colostomy was also priced at this time. In 2016 Dr Margaret Robertson checked a random sample of the medical items on websites such as MediSupplies, Amazon, Ebay, MediSave, Robinson Health Care, First Aid etc to confirm that they were not overpriced. The cost of any item can be very variable, and so we aim to identify a low rather than a high cost. The items we receive are new and in date but are really only valuable to the beneficiary.

The colostomy aid, which is donated by companies and patients has been priced by the tariff in 2015. The current prices of these items in the countries where we send them are comparable to the prices in the UK - in deed they can be higher as the items that are available in these countries are very limited and of poor quality.

We are now in the process of changing our system of recording stock from a paper based to a computer system. This will enable us to have a much clearer record of stock that has arrived and also left our premises.

Medical aid will be identified by type (eg bandages or maternity) rather than specific items. The average cost of a box of items in each category will be calculated from our current figures and each year a random selection of boxes will be checked to confirm that the pricing is still appropriate. The system is not yet in use, but the boxes checked this year showed that our prices were lower than what was available on the internet, and if the medical aid sent in the containers this year had been sent by category then the prices would have been comparable.

REFERENCE AND ADMINISTRATIVE DETAILS

The Charity benefits from professional advice as follows:

Bankers: HSBC, Barclays, TSB, CAF bank.
Insurers: 1 Stop Insurance and Aviva.
Registered Auditor: Smailes Goldie.
Independent Financial Advisor: Andrew Piper from Stephenson Johnson.
Charity Address: 11 The Croft, Beverley, HU17 7HT.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

Page 10

Jacob* Wèll Appeal Report of th• Trustees for th• y•ar ended 31st Mprch 2021 STATEMENT OF TRUSTEES, RESPONSIBIUTIES . contlnued The Irustees arè ￿SponSI￿e lor keèping proper accounting records whlch disclose with reasonable aLKuracy * any lime the financial PDsIts'on of the ch8rity and to enable them to ensure Uiat the financtal statements comply wih the Chwilies Act 2011, Ilie Charity (A￿oUnt$ and Reports) Regulations 2008 and the provislons of ihe trust deed. They are olso ￿SPonsi￿e for safeguaidin9 the assets ol the charity Ènd henc8 lor taki reasonable step$ lor th8 wevenbon and detection ol fraud 8nd ether iryegularrties. hpprov8d by ordef of the b08rd of tr￿le•S C￿ 17th Januory 2022 and 8bned on Ils b8hfjlf by.. Dr M Rohrt80n . Twste8 Page 11

Report of the Independent Auditors to the Trustees of Jacob's Well Appeal

Opinion

We have audited the financial statements of Jacob's Well Appeal (the 'charity') for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Emphasis of matter

We draw attention to the Going Concern section of Note 1 of the financial statements which describe the unincorporated charity's decision to transfer its operations into a Charitable Incorporated Organisation from 1 April 2022. The Trustees therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Report of the Independent Auditors to the Trustees of Jacob's Well Appeal

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

Page 13

Report of the Independent Auditors to the Trustees of Jacob's Well Appeal

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA

17th January 2022

Page 14

Jacob's Well Appeal

Statement of Financial Activities for the year ended 31st March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Charitable costs
Other income
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Charitable costs
Other
6
Total
Net gains/(losses) on investments
NET INCOME
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
10
As restated
TOTAL FUNDS CARRIED FORWARD		 2021
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
2,567,005
76,802
2,643,807
134,976
-
134,976
60,769
30,246
91,015
2,762,750
107,048
2,869,798
64,967
892
65,859
2,540,381
104,640
2,645,021
91,223
17
91,240
2,696,571
105,549
2,802,120
6,247
-
6,247
72,426
1,499
73,925
(5,330)
5,330
-
67,096
6,829
73,925
1,303,032
33,233
1,336,265
242,058
-
242,058
1,545,090
33,233
1,578,323
1,612,186
40,062
1,652,248		 2020
Total
funds
as restated
£
3,694,840
(48,730)
120,721
3,766,831
73,369
3,276,310
112,760
3,462,439
(1,086)
303,306
-
303,306
1,275,017
-
1,275,017
1,578,323

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 15

Jacob's Well AppeBI Balance Shofrt 31st March 2021 2021 2020 a8 restated Noles FIXED ASSETS Taroible assets Invèslmen15 11 12 33.390 35,Q64 40,232 28.817 68A54 89,049 CURRENT ASSETS Stock5 Debtors Cash 81 bank 13 14 1,282,836 261,083 81.994 1,134,710 254,831 123,843 1.896.913 1,513,384 CREDITORS Amount5 falling due withSn one year 15 112.1191 14.1101 NET CURRENT ASSETS 1,683.794 1,509274 TOTAL ASSETS LESS CURRENT LIABIUTIES 1.862,248 1,578.323 NET A&8ETS 1.652,248 1,S78,323 FUNDS Unrestrlcted fund8 ReBlriclgd funds 17 1,812.188 40.062 1,545,090 33,233 TOTAL FUNDS 1,652,248 1,578,323 The flmnd81 fjtolemenls were approved Board of Trustees and aulhorised for Issug on 17th J8nuary 2022 8nd ￿re 81gn•d on ilj behaw by.. M Robertson. Tru8tee The note8 fwm part ¢1 these finandal 8t8ternents Page 16

Jacob's Well Appeal

Cash Flow Statement for the year ended 31st March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2021
£
(67,349)
(67,349)
(4,500)
(4,500)
(71,849)
123,843
51,994		 2020
as
restated
£
77,811
77,811
(8,800)
(8,800)
69,011
54,832
123,843

The notes form part of these financial statements

Page 17

Jacob's Well Appeal

Notes to the Cash Flow Statement for the year ended 31st March 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2021 2020
as
restated
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 73,925 303,306
Adjustments for:
Depreciation charges 11,342 10,639
(Gain)/losses on investments (6,247) 1,086
(Increase)/decrease in stocks (148,126) 10,430
Increase in debtors (6,252) (248,033)
Increase in creditors 8,009 383
Net cash (used in)/provided by operations (67,349) 77,811
  1. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank 123,843 (71,849) 51,994
123,843 (71,849) 51,994
Total 123,843 (71,849) 51,994

The notes form part of these financial statements

Page 18

Jacob's Well Appeal

Notes to the Financial Statements for the year ended 31st March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going Concern

The trustees have made the decision that from 1 April 2022 the operations of this unincorporated charity will be transferred to a newly formed Charitable Incorporated Organisation.

As a result of this the financial statements have not been prepared on a going concern basis. The alternative basis used does not differ from the going concern basis as all assets and liabilities will transfer at 1 April 2022 at fair value as reported in these financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings and fittings - Straight line over 20 years Containers - 50% on cost Motor vehicles - Straight line over 5 years

Stocks

At 31 March 2021 the charity has included, at a valuation of £1,282,836, the stock of donated goods, mainly comprising ostomy supplies, medical equipment and disposables.

The stock for the charity is obtained through non-exchange transactions and therefore stock is held at Fair Value. The Fair Value of such stock is based on the open market value where available, or the amount for which the stock could be purchased at a wholesale level, based on publicly available data.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 19

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

2.
DONATIONS AND LEGACIES
Donated goods
Donations
Gift aid
Legacies
Grants
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Stock movement
Charitable costs
4.
RAISING FUNDS
Raising donations and legacies
Property expenses
Printing and stationery
Fundraising
Administration expenses
Postage and carriage
Selling costs
Staff
Transport		 2021
£
2,436,835
50,461
91,267
2,985
62,259
2,643,807
2021
£
134,976
2021
£
14,364
440
105
2,963
638
1,428
43,607
2,314
65,859		 2020
as
restated
£
3,036,669
75,925
116,724
462,522
3,000
3,694,840
2020
as
restated
£
(48,730)
2020
as
restated
£
14,973
561
1,461
2,564
557
3,436
46,299
3,518
73,369

Page 20

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

5. CHARITABLE ACTIVITIES COSTS

Charitable costs

Direct Costs £ 2,645,021

6. OTHER

Other costs are as follows:

2021 2020
£ £
Staff 37,757 38,832
Insurance and licences 45 3,039
Phone and internet 757 1,057
Postage 638 557
Administration expenses 9,351 6,928
Property expenses 27,042 34,420
Transport 4,308 9,842
Research - 7,446
Depreciation 11,342 10,639
91,240 112,760

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.

Trustees' expenses

There was no reimbursement for out of pocket expenses or for expenses incurred as part of the trustee's carrying out their duties

8. STAFF COSTS

2021 2020
£ £
Wages and salaries 81,518 91,679
Social security costs 5,916 1,126
87,434 92,805
2021 2020
Average number of employees 8 7

No employee was paid at a rate of more than £60,000 during the year.

Page 21

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,580,496
Charitable activities
Charitable costs
(48,730)
Other income
119,361
Total
3,651,127
EXPENDITURE ON
Raising funds
70,591
Charitable activities
Charitable costs
3,157,860
Other
102,511
Total
3,330,962
Net gains/(losses) on investments
(1,086)
NET INCOME/(EXPENDITURE)
319,079
Transfers between funds
4,141
Net movement in funds
323,220
RECONCILIATION OF FUNDS
Total funds brought forward
1,221,870
TOTAL FUNDS CARRIED FORWARD
1,545,090
10.
PRIOR YEAR ADJUSTMENT		 Restricted
fund
£
114,344
-
1,360
115,704
2,778
118,450
10,249
131,477
-
(15,773)
(4,141)
(19,914)
53,147
33,233		 Total
funds
as restated
£
3,694,840
(48,730)
120,721
3,766,831
73,369
3,276,310
112,760
3,462,439
(1,086)
303,306
-
303,306
1,275,017
1,578,323

The prior year adjustment represents the recognition of a legacy previously unrecognised.

Page 22

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

11.
TANGIBLE FIXED ASSETS
Buildings
and
fittings
Containers
£
£
COST
At 1st April 2020
69,098
11,865
Additions
2,500
2,000
At 31st March 2021
71,598
13,865
DEPRECIATION
At 1st April 2020
41,465
10,112
Charge for year
2,772
2,748
At 31st March 2021
44,237
12,860
NET BOOK VALUE
At 31st March 2021
27,361
1,005
At 31st March 2020
27,633
1,753
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1st April 2020
Revaluations
At 31st March 2021
NET BOOK VALUE
At 31st March 2021
At 31st March 2020		 Motor
vehicles
Totals
£
£
32,764
113,727
-
4,500
32,764
118,227
21,918
73,495
5,822
11,342
27,740
84,837
5,024
33,390
10,846
40,232
Listed
investments
£
28,817
6,247
35,064
35,064
28,817

Included within the above is cash of £1,325 (2020: £1,254).

Historical Cost of Investments

The historical cost of investments as at 31 March 2021 was £30,000 (2020: £30,000).

Cost or valuation at 31st March 2021 is represented by:

Listed
investment
£
Valuation in 2021 35,064

Page 23

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

13. STOCKS

Shop stock
Warehouse stock
Educational items
Clothes
Medicines
Medical disposables
Ostomy supplies
Medical equipment
Bric-a-brac and household
Warehouse stock
Total stock
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
33,390
-
Investments
35,064
-
Current assets
1,555,851
40,062
Current liabilities
(12,119)
-
1,612,186
40,062		 2021 2021 2020 2020
£ £
8,276 9,746
615 400
1,300 -
6,075 -
399,639 684,290
832,609 427,539
30,372 6,235
3,950 6,500
1,274,560 1,124,964
1,282,836 1,134,710
2021
£
261,083
2021
£
1
12,118
12,119
2021
Total
funds
£
33,390
35,064
1,595,913
(12,119)
1,652,248		 2020
as
restated
£
254,831
2020
as
restated
£
-
4,110
4,110
2020
as
restated
Total
funds
£
40,232
28,817
1,513,384
(4,110)
1,578,323

Page 24

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

17. MOVEMENT IN FUNDS

Fund name Opening Income Expense Transfers/Gai
ns		 Closing
£ £ £ £ £
Restricted funds:
Afghanistan 313 1,250 (1,000) - 563
Abandoned Girls School 88 95 (154) (26) 3
Brownwell 9,200 14,000 (13,343) (1,250) 8,607
Burkina Faso 1,698 5,536 (5,200) 26 2,060
Child Sponsorship
Burkina Faso		 1,658 4,711 (5,762) 24 631
Child Sponsorship Kenya 360 1,601 (1,618) - 343
Covid - 37,297 (38,304) 1,250 243
Doctors 6,461 - (7) (600) 5,854
Dry Season Ghana 1,250 - (882) - 368
Fruit Trees 3,050 1,559 (3,015) - 1,594
Gift for life 268 183 (361) - 90
Helen Smith - 26,900 (21,068) - 5,832
Hospital - 6,861 (5,466) 5,330 6,725
Research 500 - (500) - -
Tamale 3,205 1,421 - - 4,626
Welldrilling 125 100 - - 225
Other 5,057 5,533 (8,868) 576 2,298
33,233 107,048 (105,549) 5,330 40,062
Unrestricted funds 1,545,090 2,762,750 (2,696,571) 917 1,612,186
TOTAL FUNDS 1,578,323 2,869,798 (2,802,120) 6,247 1,652,248

Restricted funds are funds that can only be used for the particular restricted purpose within the objects of the fund, as stated above.

Income may be restricted when specified by the donor or when funds are raised for a specific restricted purpose. Such income is allocated to a restricted fund.

Resources expended on the above funds represent expenditure incurred in fulfilling the specific objects of the fund.

2020 comparative movement in funds

Transfers/Gai
Fund name Opening Income Expense n Closing
£ £ £ £ £
Restricted funds:
Afghanistan 63 1,250 (1,000) - 313
Abandoned Girls School 14,019 130 (14,061) - 88
Brownwell - 47,500 (38,300) - 9,200
Burkina Faso 3,688 30,421 (32,411) - 1,698
Child Sponsorship
Burkina 2,201 4,241 (4,784) - 1,658
Child Sponsorship Kenya 385 1,825 (2,246) 396 360
Doctors 11,295 - (3,584) (1,250) 6,461
Dry Season Ghana - 5,250 (4,000) - 1,250
Fruit Trees 1,805 4,542 (3,297) - 3,050
Gift for life 257 807 (796) - 268
Hospital 4,175 - (4,175) - -

Page 25

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

17. MOVEMENT IN FUNDS - continued

Hurrell - 3,373 (2,787) (586) -
Research 7,343 2,224 (9,067) - 500
Welldrilling 1,160 150 (1,185) - 125
Other 6,756 13,991 (9,784) (2,701) 8,262
53,147 115,704 (131,477) (4,141) 33,233
Unrestricted funds 1,221,870 3,651,127 (3,330,962) 3,055 1,545,090
TOTAL FUNDS 1,275,017 3,766,831 (3,462,439) (1,086) 1,578,323

18. RELATED PARTY DISCLOSURES

The land on which Jacob's Well buildings stand is owned by the Beynon Family Discretionary Trust (BFDT). Jacob's Well rents its warehouse from the BFDT. The trust is also a benefactor of Jacob's Well. Its trustees are David Beynon, Rev John Beynon, Samuel Nunes and Dr Beryl Beynon. Dr Beryl Beynon is also a trustee and medical director of Jacob's Well and Rev John Beynon is CEO. John Beynon, the son of trustee Dr Beryl Beynon, is employed by the charity and is remunerated at market rate in his role as CEO. In the event of any discussions regarding payments to be made by Jacob's Well to the BFDT, Dr Beryl Beynon and John Beynon are asked to leave the room so that a conflict of interest does not occur. The financial transactions between Jacob's Well and the BFDT are listed below:

2021 2020
£ £
Financial transactions between Jacob's Well and the Beynon
Family Discretionary Trust
Income to Jacob's Well
General donations 14,032 3,656
Tax reclaimable on gift aid donations - 10,227
14,032 13,883
Expenses for Jacob's Well
Repairs 28 31
Warehouse rent 18,000 18,000
18,028 18,031
Expenses for Jacob's Well Expenses for Jacob's Well
Repairs 28 31
Warehouse rent 18,000 18,000
18,028 18,031

Page 26

continued...

Jacob's Well Appeal

Notes to the Financial Statements - continued for the year ended 31st March 2021

19. POST BALANCE SHEET EVENTS

After the balance sheet date the trustees have made the decision that from 1 April 2022 the operations of this unincorporated charity will be transferred to a newly formed Charitable Incorporated Organisation.

Page 27