**The Breakout Trust Registered Charity Number: 1070960** **Trustees Annual Report and Accounts For the year ended 31[st] August 2024** **The Breakout Trust** **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] August 2024** ||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 2024** The trustees present their report and accounts for the year ended 31st August 2024. The trustees have opted, under section 133 of the Charities Act 2011 (‘the Charities Act’), to prepare receipts and payments accounts ## **Objectives and Aims** - 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 - To relieve persons who are in conditions of need, hardship or who are aged or sick and - 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** This financial year, the trust had two key projects, supporting the ministry of Steve Legg and supporting the work of Jeff Lucas in creating and distributing Bible Notes. Steve Legg’s ministry continued despite a terminal cancer prognosis and he was able to continue travelling the country working in churches and at large events sharing the gospel and using his personal story to share his faith. This story was shared more widely, firstly through the book “The Last Laugh” and a journal of the same name. The journal is a 22-step journey to rethinking faith and life drawing on the lessons Steve and his wife Bekah learned as they came to terms with being told Steve had five months to live and their resolution to choose joy. Both books have sold well, not only in the UK but around the world as Steve harnessed the power of print-on-demand publishing which enabled books to be easily distributed on every continent. The books have been well received as an inspirational challenge to lean into faith and choose joy even on the darkest days. Steve received messages from as far afield as Thailand and Columbia thanking him for sharing his story and telling him of the hope it had brought. The book has now been translated into Spanish. Steve also collaborated this year with Jude Simpson to create a beautiful, illustrated _Book of Bedtime Prayers_ . Again, this book is available globally and helps parents and children end the day with Jesus in a simple and engaging way. Steve continued to work with Sorted, despite increasing financial challenges to not only provide Christian men with a quality magazine, but to bring stories of hope and faith to the armed forces and 76 prisons. Steve proved to have more than five months of life in him and achieved far more than the doctors thought possible. He continued to work, to follow Jesus and to share the good news wherever he could. Steve lived a whole year more than he was given, but in September 2024 he passed away. Looking to the future, the trustees have recognised that many of Steve’s projects can not continue without him, although his books continue to sell, Sorted Magazine is no longer sustainable and will close. The trustees anticipate Breakout Trust continuing to support the world of Jeff Lucas in creating and distributing Bible Study notes. ## **Financial review** The Charity had a surplus of £102 (2023: deficit £955) for the year ended 31[st] August 2024. Income received was £69,467 (2023 £64,046) and expenditure of £69,365 (2023 £65,001). Unrestricted funds at the year-end were £183 (2023: £81) ## **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 Page 1 **The Breakout Trust** ## **REPORT OF THE TRUSTEES for the year ended 31[st] August 2024** 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 ## **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 Resigned Nigel Green Stephen Tucker Chair Mark Johnson ## **Independent Examiner** Magnus Proctor FFA Lindisfarne Landkey Road Barnstaple EX32 9BW Approved by the board of trustees on 7[th] November 2024 and signed on its behalf by: ............................................. Stephen Tucker, 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 2024. ## **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. **==> picture [33 x 10] intentionally omitted <==** **----- Start of picture text -----**
Signed:
**----- End of picture text -----**
Magnus Proctor FFA Fellow of the Institute of Financial Accountants Lindisfarne Landkey Road Barnstaple EX32 9BW Date: 7[th] November 2024 Page 3 **The Breakout Trust** ## **RECEIPTS AND PAYMENTS for the Year ended 31[st] August 2024** |**RECEIPTS AND PAYMENTS**
**for the Year ended 31st August 2024**|| |---|---| |**Receipts**
Gifts and donations
Gift aid received
Sales
Grants
Other income
**Total receipts**
**Payments**
Cost of sales
Grants made
Administration
Rent
Equipment
**Total payments**
**Net receipts / (payments)**
**Reconciliation of funds**
Transfer between funds
Total Funds brought forward
**Total Funds carried forward**|**2024**
**2023**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
34,365
35,068
69,432
61,046
0
0
0
0
35
0
35
3,000
0
0
0
0
0
0
0
0| ||34,399
35,068
69,467
64,046
11,577
35,043
46,620
48,246
7,700
25
7,725
700
11,530
0
11,530
16,055
3,440
0
3,440
0
50
0
50
0| ||34,297
35,068
69,365
65,001| ||102
0
102
(955)
0
0
0
0
81
0
81
1,036| ||**183**
**0**
**183**
**81**| Page 4 **The Breakout Trust** ## **STATEMENT OF ASSETS AND LIABILITIES At 31[st] August 2024** |**STATEMENT OF ASSETS AND LIABILITIES**
**At 31st August 2024**||| |---|---|---| |**Fixed Assets**
**Current Assets**
Debtors
Cash at bank
**Current Liabilities**
Creditors
**Total Assets less Liabilities**
**Funds**
Unrestricted funds
**Total Funds**|**2024**
**2023**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
183
0
183
81
(0)
(0)
(0)
(0)
183
0
183
81
183
0
183
81
183
0
183
81|| |||| |||| |||183
0
183
81| The financial statements were approved by the Board of Trustees on 7[th] November 2024 and were signed on its behalf by: ............................................. Stephen Tucker, 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 2023**
**31st Aug 2024**
81
34,399
(34,297)
0
183
0
35,038
(35,068)
0
0| |---|---| ||81
69,467
69,365
0
183| ||**Balance**
**Income**
**Expenditure**
**Transfers**
**Balance**
**1st Sept 2022**
**31st Aug 2023**
1,036
18,731
(19,686)
0
81
0
45,315
(45,315)
0
0| ||1,036
64,046
65,001
0
81| ## **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