OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-08-31-accounts

The Breakout Trust Registered Charity Number: 1070960

Trustees Annual Report and Accounts For the year ended 31[st] August 2021

The Breakout Trust

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] August 2021

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Receipts and Payments 4
Statement of Assets and Liabilities 5
Notes to the Accounts 6

The Breakout Trust

REPORT OF THE TRUSTEES for the year ended 31[st] August 2021

The trustees present their report and accounts for the year ended 31st August 2021. The trustees have opted, under section 133 of the Charities Act 2011 (‘the Charities Act’), to prepare receipts and payments accounts

Objectives and Aims

Public benefit

The Trustees have considered the Charity Commission guidance on public benefit and consider that the activities of the charity meet its charitable objectives and provide a benefit to the public.

Achievement and Performance

Charitable activities

The Trust continues to support evangelist, Steve Legg’s, ministry up and down the UK.

This was another unprecedented year with Steve’s speaking engagements for the year cancelled, though he was able to do a number of Zoom shows and appearances.

Steve also started his BackStory Podcast where he interviews well-known people – inside and outside the Church – on the moments that have shaped their lives. This continues to be a very appreciated and useful resource.

Due to lack of funds, cancelled subscriptions and advertisers cancelling ad campaigns due to Covid it was another tough 12 months for Sorted, his evangelistic men’s lifestyle magazine. We had to scale down free distribution but were still able to distribute free of charge to members of HM Armed Forces and 76 UK prisons.

Financial review

The Charity had a deficit of £66 (2020: Surplus £87) for the year ended 31[st] August 2021. Income received was £43,804 (2020 £47,647) and expenditure of £43,870 (2020 £,47,560). Unrestricted funds at the year-end were £93 (2020: £159)

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Reserves policy

The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

Risk assessment

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks

Page 1

The Breakout Trust

REPORT OF THE TRUSTEES for the year ended 31[st] August 2021

Structure, Governance and Management

Governing document

The Breakout Trust is a charity constituted by trust deed dated 31st October 1997

The board of trustees meet regularly to discuss the work of The Breakout Trust. New trustees are elected by the existing trustees to the board after nomination and interview.

Financial reports are presented to the board at each meeting. Minutes of each meeting are taken and subsequently distributed.

Reference and Administration Details

Registered name

The Breakout Trust

Registered Charity number

1070960

Principal address PO Box 3070 Littlehampton BN17 6WX

Chief Executive

Steven Legg

Trustees Name

Name Position Appointments/Resignations Andreas Economides Chair Nigel Green Stephen Tucker Mark Johnson

Independent Examiner

Magnus Proctor FFA Lindisfarne Landkey Road Barnstaple EX32 9BW

Approved by the board of trustees on 14[th] April 2022 and signed on its behalf by:

A. Economides A. Economides (Apr 26, 2022 10:31 GMT+1) .............................................

Andreas Economides, Chair

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BREAKOUT TRUST

Independent examiner's report to the trustees of The Breakout Trust

I report to the charity trustees on my examination of the accounts of The Breakout Trust for the year ended 31[st] August 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Signed:

Magnus Proctor FFA Fellow of the Institute of Financial Accountants Lindisfarne Landkey Road Barnstaple EX32 9BW

Date: 14[th] April 2022

Page 3

The Breakout Trust

RECEIPTS AND PAYMENTS for the Year ended 31[st] August 2021

RECEIPTS AND PAYMENTS
for the Year ended 31st August 2021
Receipts
Gifts and donations
Gift aid received
Sales
Grants
Other income
Total receipts
Payments
Cost of sales
Grants made
Administration
Rent
Telephone and internet
Total payments
Net receipts / (payments)
Reconciliation of funds
Transfer between funds
Total Funds brought forward
Total Funds carried forward		 2021
2020
Unrestricted
funds
Restricted
funds
Total
Total
£
£
£
£
17,698
21,615
39,313
40,287
4,030
0
4,030
5,682
1,663
0
1,663
1,663
47
0
47
0
414
0
414
15
22,189
21,615
43,804
47,647
3,496
21,615
25,111
29,949
6,230
0
6,230
8,000
11,429
0
11,429
7,716
1,895
0
1,895
1,895
1,100
0
1,100
0
22,255
21,615
43,870
47,560
(66)
0
(66)
87
0
0
0
0
159
0
159
72
93
0
93
159

Page 4

The Breakout Trust

STATEMENT OF ASSETS AND LIABILITIES At 31[st] August 2021

STATEMENT OF ASSETS AND LIABILITIES
At 31st August 2021
Fixed Assets
Current Assets
Debtors
Cash at bank
Current Liabilities
Creditors
Total Assets less Liabilities		 Unrestricted
funds
£
0
0
93
(6,975)		 2021
2020
Restricted
funds
Total
Total
£
£
£
0
0
0
0
0
19
0
93
159
0
(6,975)
(4,090)
(6,882) 0
(6,882)
0

The financial statements were approved by the Board of Trustees on 14[th] April 2022 and were signed on its behalf by:

A. Economides

A. Economides (Apr 26, 2022 10:31 GMT+1) ............................................. Andreas Economides, Chair

Page 5

The Breakout Trust

1. Accounting Policies

Basis of preparing the financial statements and assessment of going concern

These accounts have been prepared on a receipts and payments basis as permitted by law for smaller charities.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

2. Movement in Funds

General Fund
Restricted:
Sorted Magazine
Total Funds
Unrestricted Funds
General Fund
Restricted:
Sorted Magazine
Total Funds		 Balance
Income
Expenditure
Transfers
Balance
1st Sept 2020
31st Aug 2021
159
22,189
(22,255)
0
93
0
21,615
(21,615)
0
0
159
43,804
(43,870)
0
93
Balance
Income
Expenditure
Transfers
Balance
1st Sept 2019
31st Aug 2020
72
23,153
(23,066)
0
159
0
24,494
(24,494)
0
0
72
47,647
(47,560)
0
159

3. Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any benefits from an employment with the charity or a related entity.

Page 6