The Breakout Trust Registered Charity Number: 1070960
Trustees Annual Report and Accounts For the year ended 31[st] August 2022
The Breakout Trust
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] August 2022
| 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 2022
The trustees present their report and accounts for the year ended 31st August 2022. The trustees have opted, under section 133 of the Charities Act 2011 (‘the Charities Act’), to prepare receipts and payments accounts
Objectives and Aims
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To advance the Christian faith in accordance with the Statement of beliefs in the United Kingdom or elsewhere as the trustees may from time to time think fit, and
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To relieve persons who are in conditions of need, hardship or who are aged or sick and
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To relieve the distress caused thereby In the United Kingdom or elsewhere as the trustees may from time to time think fit
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.
Steve’s speaking engagements thankfully started to increase after a couple of years of Covid 19 and we were thrilled at the opportunities and doors that are reopening.
Steve’s BackStory Podcast where he interviews well-known people – inside and outside the Church – on the moments that have shaped their lives continues to be a very appreciated and useful resource. He also hosts a weekly show, The Big Lunch, on Konnect Radio which is rapidly becoming one of the most listened to shows on the station.
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 but are hoping to increase outreach going forward.
Financial review
The Charity had a surplus of £1,036 (2021: deficit £66) for the year ended 31[st] August 2022. Income received was £72,492 (2021 £43,804) and expenditure of £71,549 (2021 £,43,870). Unrestricted funds at the year-end were £1,036 (2021: £93)
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
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The Breakout Trust
REPORT OF THE TRUSTEES for the year ended 31[st] August 2022
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
Steve Legg
Trustees 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 23[rd] May 2023 and signed on its behalf by:
A.Economides
............................................. A.Economides (May 23, 2023 16:41 GMT+1) Andreas Economides, Chair
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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 2022.
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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: 23[rd] May 2023
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The Breakout Trust
RECEIPTS AND PAYMENTS for the Year ended 31[st] August 2022
| RECEIPTS AND PAYMENTS for the Year ended 31st August 2022 |
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|---|---|
| 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 |
2022 2021 Unrestricted funds Restricted funds Total Total £ £ £ £ 25,566 9,831 35,397 39,313 0 0 0 4,030 100 0 100 1,663 0 36,995 36,995 47 0 0 0 414 |
| 25,666 46,826 72492 43,804 0 28,533 28,533 25,111 13,522 18,293 31,815 6,230 11,201 0 11,201 11,429 0 0 0 1,895 0 0 0 1,100 |
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| 24,723 46,826 71,549 43,870 |
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| 943 0 943 (66) 0 0 0 0 93 0 93 159 |
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| 1,036 0 1,036 93 |
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The Breakout Trust
STATEMENT OF ASSETS AND LIABILITIES At 31[st] August 2022
| STATEMENT OF ASSETS AND LIABILITIES At 31st August 2022 |
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|---|---|
| Fixed Assets Current Assets Debtors Cash at bank Current Liabilities Creditors Total Assets less Liabilities |
2022 2021 Unrestricted funds Restricted funds Total Total £ £ £ £ 0 0 0 0 0 0 0 0 1,036 0 1,036 93 (5,915) 0 (5,915) (6,975) |
| (4,879) 0 (4,879) (6,882) |
The financial statements were approved by the Board of Trustees on 23rd May 2023 and were signed on its behalf by:
A.Economides
A.Economides (May 23, 2023 16:41 GMT+1) .............................................
Andreas Economides, Chair
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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 2021 31st Aug 2022 93 25,666 (24,723) 0 1,036 0 46,826 (46,826) 0 0 |
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| 93 72,492 71,549 0 1,036 |
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| 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 |
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| 159 43,804 (43,870) 0 93 |
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.
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