2021-09-30-accounts - The Breadsticks Foundation

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Charity Registration No 1125396

THE BREADSTICKS FOUNDATION

Trustees’ Annual Report

Financial Statements

For the Year Ending 30 September 2021

THE BREADSTICKS FOUNDATION

Contents

1 Charity Information
2 - 6 Annual Report
7 Independent Examiners' Report
8 Statement of Financial Activities 9 Balance Sheet

10 - 15 Notes to the Accounts

THE BREADSTICKS FOUNDATION

CHARITY INFORMATION

Charity Registration No.: 1125396 Governing Document: Declaration of trust signed 31 May 2008 Correspondence Address: The Breadsticks Foundation 35 Canonbury Square London N1 2AN Trustees: Ms Beatrix Payne (Chair) Dr Paul Ballantyne (Secretary and Treasurer) Ms Beatrice Roberts Accountant: Peter Saltiel Church & Charity Accounts Service Planchadeau 23460 Saint-Pierre-Bellevue France Independent Examiner: Adetutu Taiwo FCCA 8 Waltham Close Dartford Kent DA1 3LT Bankers: The Co-operative Bank Pic 1 Balloon Street Manchester M60 4EP

THE BREADSTICKS FOUNDATION

Trustees’ Report for the year ended 30 September 2021

The Trustees present their report and accounts for the year ended 30 September 2021.

The financial statements comply with the Charities Act 2011, the Foundation’s governing document and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Objectives and activities

The objects of the Foundation are to advance education and to protect and preserve good health with a particular focus on Africa, India, and the UK.

The Trustees confirm that they have referred to the guidance contained within the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant making policy for the year. In so doing, the Trustees have complied with the duty in section 17 of the Charities Act 2011.

The Foundation carries out its objectives by:

⚫funding community programmes whose efforts enable the provision of education or healthcare support

⚫funding programmes that are small-scale activities embedded in local communities, or largescale organisations

⚫funding programmes whose recipients are often marginalised

⚫funding programmes in the focus geographical areas.

By focussing on these areas, the Foundation achieves its strategic priorities of:

⚫helping communities to create sustainable futures through support for and provision of education and healthcare

⚫building long-term partnerships with the organisations it supports.

Grant Making Policy

Grant applications are by invitation only and must fit within the Foundation’s objectives described above. We aim to build close, long-term partnerships with the organisations we support. Where possible we aim to provide partner organisations with long-term core funding but will also provide project-related grants. Grants made by the Breadsticks Foundation clearly fall within the thirteen “Heads of Charity” outlined by the Charity Commission for England and Wales and defined in the Charities Act 2011.

The countries in which the Foundation currently works directly are the United Kingdom, India, Kenya, South Africa and South Sudan. The Foundation will not sponsor individuals or fund work with animals, medical research or capital and building projects, nor will we fund faithbased programmes unless they work with beneficiaries from all faiths and none.

We participate closely in monitoring and evaluation with our partners and, in order to achieve this, require half-yearly progress reports on each grant. In assessing a grant application, we will analyse each applicant's financial reports and accounts and will conduct telephone and face-to-face interviews. The Trustees are open to collaborative funding of organisations and programmes with other grant-making bodies.

Achievements and performance

During the year, Covid restrictions permitting, the Trustees made site visits to Urban Hope and Mary’s and had executive meetings with The Banyan, Oasis Project, School Home Support, Dreamfields and Three2Six. We were generally pleased to see the progress achieved with the assistance of grants from the Breadsticks Foundation. We were impressed how our grant partners continued service delivery in innovative ways during frequent Covid lockdowns.

The following summarises our active grants in the year ending September 2021:

Grants in Africa

Basic Needs, Kenya. The grant enabled Basic Needs Kenya to support staff and build capacity at mental health specialist Community Psychosocial Support Organisation (previously South Sudan Psychosocial Progamme) as the team restarted operations suspended by civil war in South Sudan. We have been funding CPSO, with Basic Needs assistance, since 2012 when it was still operational in Kajo-Keji and Magwi providing mental health support for the displaced and traumatised victims of conflict in South Sudan. Most of the staff support during the year was done virtually and CPSO attempted to continue its in-person support when possible. However, activities were delayed due to Covid –related lockdowns and both grants were extended by six months to enable full delivery.
Dreamfields Project, Johannesburg, South Africa. Our grant was to enable the provision of football and netball coaching, equipment, leagues and tournaments at schools in Ingwavuma, KwaZulu Natal, in association with Zisize Educational Trust. Covid-related restrictions on schools and organised sports continued during the period and Dreamfields developed a Safe-Sports model to work with small groups of learners. Dreamfields continued to operate its online coaching programme which has been rolled out to teachers and community coaches. This grant was extended into 2021 to allow full delivery of the programme.
Three2Six, Johannesburg, South Africa. We provided core operational funding to Three2Six which provides after-hours education to 225 refugee children to prepare them for mainstream schooling. We have been funding Three2Six since 2012. During South Africa’s lockdown, Three2Six delivered textbooks to the children's homes, teachers used WhatsApp and a local radio station to guide their work and staff provided substantial food support to the families of the children. Upon return to school a staggered timetable was introduced with an extra day of teaching to ensure social distancing and Covid-safe classrooms.

Grants in Asia

The Banyan, Chennai, India. The Banyan serves people living with mental health concerns from vulnerable and socially-disadvantaged backgrounds, particularly those

homeless, poor and from indigenous communities, through its flagship programmes Home Again and Emergency Care and Recovery Centres (ECRC). Since its foundation in 1993, The Banyan has helped over a million low-income households across three Indian states, Tamil Nadu, Kerala and Maharashtra. Our grant goes towards core costs and we have supported The Banyan since 2013. As well as expanding its ECRC network in Tamil Nadu, The Banyan continues to expand Home Again into other Indian states and Sri Lanka. In addition to clinical markers of recovery and reclaiming social relationships, over half of The Banyan’s service users find pathways to meaningful work and employment. Banyan continued its service delivery during the Covid pandemic when restrictions to social mixing and mobility added to higher stress levels among clients. Staff worked hard to encourage clients to maintain routines and find self-directed ways to tackle boredom.

Grants in the United Kingdom

Oasis Project, Brighton. The grant funded core costs for Young Oasis, a therapy centre providing support to children affected by family alcohol or drug misuse in Brighton and Hastings. Our funding has enabled the centre to nearly double its capacity. 137 children were supported in Brighton and 22 in Hastings during 2020 despite significant disruption to its service model. The YO team developed a hybrid service model of video and face-to-face sessions but was unable to see children younger than 9 face-to-face owing to the difficulties of social distancing. Phone checks and parenting advice continued for struggling parents.
Hope and Homes for Children. A one-off grant towards core costs helped HHC continue its international work enabling orphaned and vulnerable children to live in supported, sustainable family units and assisting national governments in deinstitutionalisation of childcare. We have funded HHC since 2009 and are pleased to have seen them grow to become an acknowledged global expert in the deinstitutionalisation of childcare, working alongside governments and civil society organisations to dismantle orphanage-based care systems.
Islington Giving. A small one-off grant was used to fund programmes to tackle social isolation and provide opportunities for young people in the London Borough of Islington.
School Home Support. The grant provided core funding to SHS’s work to help tackle absenteeism and truancy from primary and secondary schools by working with children and their families. We have supported SHS since 2012. Increased referrals from schools during the pandemic led to a quadrupling of demand. SHS provided evidence to government on the long-term impact of the pandemic on families and children as well as show-casing the success of SHS’s Practitioner Model.
St Mary’s Islington Community Partnership. Our grant provided match-funding to enable Mary’s youth club to deliver its programmes to support young people, particularly in terms of increased confidence and mental resilience. We have supported Mary’s since 2016 as Mary’s has grown its team and services. Mary’s income from event bookings was hit hard during the pandemic and our grant enabled the team to resume activities and services as Covid restrictions eased. Participation in youth

services dropped sharply as face-to-face activity was stopped, and Mary’s restarted its services carefully and with an emphasis on skills development and open access work.

Urban Hope, London. We part-fund the salary of a youth worker to support, through workshops, organised activities and one-to-one advice, the young people attending the Urban Hope youth club in Canonbury. We have been funding Urban Hope since 2015. The grant enabled Urban Hope to continue to provide Covid-safe activities as well as support to young people at a local senior school. Attendance as its drop-in sessions steadily increased as Covid restrictions eased.

Future Plans

The Trustees believe that long-term support to a focussed portfolio of six to eight grant partners is optimal.

Financial Review, Reserves and Investment Policy

During the financial year the Foundation earned £115,030 in bond interest, £3 in bank interest and received a donation of £650,000 and Gift Aid of £162,500 resulting in a total income of £927,533. Grants amounting to £114,107 were made to the organisations described above, in the course of disbursing funds, the Foundation incurred expenses that amounted to 5.0% of grants disbursed. The cash balance at year end was £53,032.

The Foundation holds funds (Reserves) in the form of cash and long-term, low-risk corporate bonds. The reserves are held to provide an income stream to fund future liabilities, being grants made to partner organisations to further the objectives of the Foundation. These reserves will not be invested in the securities of companies that are not aligned to the Foundation’s mandate such as companies linked to the arms, tobacco or gambling industries.

Serious Incident – Online Fraud

During the year under review the Foundation experienced serious online fraud by a website posing as its bank. This incident was swiftly dealt with by the bank and reported to Action Fraud and the Charity Commission. There was no financial loss to the Foundation and the Trustees have reviewed the safety of its online banking systems.

Risk Management

The Foundation’s assets are invested in a diverse portfolio of low-risk, UK corporate bonds. Cash balances are kept to match the near-term financial obligations of the Foundation to its partner organisations and are held as savings deposits with UK clearing banks. Operational risk we define as funding disbursed that gives rise to outcomes that are not in line with the Foundation’s objectives. We aim to mitigate this risk by thorough, detailed appraisal of the integrity, capacity, capability and governance of potential recipients of funding prior to disbursement of that funding. We also assess the political, economic, social, technological, legal and environmental risks in each country where we fund organisations, with a view to assessing the ability of our partner organisations to conduct their activities freely.

Risks associated with the safeguarding of children, young people and vulnerable adults are important for the Foundation to take account of as, in many cases, the beneficiaries will be those who are particularly vulnerable. Whilst the responsibility for detailed actions on safeguarding must lie with the organisations and individuals directly delivering services or

undertaking activities, we think that it is essential that the Foundation takes a broad overview and awards grants in ways that enhance safeguarding.

In the award of grants the Foundation will seek evidence of: a safeguarding policy; a named person responsible for dealing with concerns or allegations of abuse; clear guidance on what action to take if allegations are made; a rigorous recruitment and selection process for staff and volunteers who work with children and vulnerable adults; a written code of behaviour which outlines good practice when working with children and vulnerable adults; information for children, vulnerable people, their parents and carers about where to go for help and a protective culture which ensures that if individuals have concerns someone will listen and take them seriously.

Structure, Governance and Management

The trustees who served during the year were: Beatrix Payne Chairwoman Paul Ballantyne Treasurer and Secretary Beatrice Roberts

The Breadsticks Foundation is registered with the Charity Commission in England and Wales, constituted under a declaration of trust signed on 31 May 2008. The Breadsticks Foundation has a minimum of three Trustees appointed for various terms of at least two years. New Trustees are recruited by the existing Trustees on the basis of their experience, empathy with and knowledge of the Foundation’s work. On appointment, new Trustees meet with the Chairwoman, Secretary and Treasurer and are given a welcome pack consisting of the governing document, latest Trustees Annual Report and accounts, the Foundation’s Operations Manual and the Charity Commission’s guidance booklet “The Essential Trustee: What you need to know.”

The Trustees meet three times a year to agree strategy and grant making and oversee reserves and risk management policies. Day-to-day management of grants and initial consideration of applications are delegated to the Executive Committee consisting of the Chairwoman, Secretary and Treasurer.

All Trustees give of their time freely and no Trustee received remuneration during the year. Travel expenses incurred when visiting projects and to attend Trustee board meetings are reimbursed.

The Trustees’ report was approved by the Board of Trustees and signed on behalf of all Trustees by

Ms Beatrix Payne (Chair) Dated: 14 March 2022

Independent Examiner’s Report to the Trustees / Members of The Breadsticks Foundation for the year ended 30 September 2021

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2021.

Responsibilities and basis of report

As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the 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 which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did 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 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 accounts to be reached

Adetutu Taiwo FCCA 8 Waltham Close Dartford Kent DA1 3LT

Dated 15 March 2022

THE BREADSTICKS FOUNDATION

Statement of financial activities for the year ended 30 September 2021

Notes Income and endowments 3 Donations and legacies 3.1 Investments 3.2 Total incoming resources Expenditure on 4 Raising funds 4.1 Charitable activities 4.2 Total resources expended Net gains/(losses) on investments Net Incoming / (outgoing) resources before transfers Fund transfers 11 Total funds balance brought forward 11 Total funds balance carried forward 11	Unrestricted Endowment Total Total Funds Funds 2021 2020 £ £ £ £ 179,361 633,139 812,500 85,000 3 115,030 115,033 115,348 179,364 748,169 927,533 200,348 4,838 - 4,838 3,492 114,959 - 114,959 226,390 119,797 - 119,797 229,882 - 66,561 66,561 (39,270) 59,567 814,730 874,297 (68,804) 116,248 (116,248) - - 93,027 2,297,933 2,390,960 2,459,764 268,842 2,996,415 3,265,257 2,390,960

All activities are regarded as continuing.

The above statement includes all recognised gains and losses during the year.

The Notes to the Accounts from part of these Financial Statements

THE BREADSTICKS FOUNDATION

Balance Sheet as at 30 September 2021

Notes Fixed Assets Investments 6 Current Assets Cash at bank and in hand Debtors 7 Liabilities Amounts falling due within one year Creditors: amounts falling 8 Net Current Assets Total Assets Less Current Liabilities Funds Unrestricted Funds General Fund Endowment Funds 11	£ 53,032 216,435 269,467 625	2021 2020 £ £ £ 2,996,415 2,297,933 49,568 44,084 93,652 625 268,842 93,027 3,265,257 2,390,960 268,842 93,027 2,996,415 2,297,933 3,265,257 2,390,960

Signed on behalf of all the trustees

on the 14 March 2022

THE BREADSTICKS FOUNDATION

Notes to the Accounts

1 Basis of preparation

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts, accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

1.2 Judgements and Estimations

The Trustees have not made any significant judgements in the process of applying accounting policies and there are no areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

1.3 Going concern
a) At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has sufficient reserves and that the charity is a going concern.
1.4 Change of accounting policy
a) The accounts present a true and fair view and no changes in the basis of accounting have been made during the year.
1.5 Changes to previous accounts
a) The accounts for the year have been produced on an accrual basis and there have been no changes to the figures recorded within the previous year accounts.
1.6 Changes to accounting estimates
a) There have been no changes to accounting estimates.

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

2 Accounting policies

2.1 Fund accounting
a) Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.
b) Endowment funds represent investments held by the charity to generate income for the furtherance of their charitable activities unless the funds have been designated for other purposes.
2.2 Income
a) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received.
b) Where income has related expenditure, the income and related expenditure are reported gross in the SoFA.
c) Income tax recoverable as Gift Aid is accounted for on a claimed basis.
2.3 Expenditure
a) Charitable expenditure comprises costs incurred by the charity providing activities and services for its beneficiaries.
b) Support and administration costs of the charity relate to the costs of running the charity and includes any costs which cannot be specifically identified to another expenditure.
2.4 Assets
a) Non-current fixed assets are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed as incurred.
b) Cash and cash equivalents include cash in hand, deposits held at call with banks, other than short term liquid investments with original maturities of three months or less, and bank overdrafts
c) Trade and other receivables are initially measured at transaction price including transaction costs.

2.5 Liabilities

a) Trade payables for goods and services are recognised at transaction price.

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

3 Analysis of income

4 3.1 3.2	Analysis of expenditure Donations and legacies Donations Tax reclaims Donated shares Investments Income from listed investments Interest Total income	Unrestricted Endowment Total Total Fund Fund General Funds Funds 2021 2021 2021 2020 £ £ £ £ 16,861 633,139 650,000 68,000 162,500 - 162,500 17,000 - - - - 179,361 633,139 812,500 85,000 - 115,030 115,030 115,030 3 - 3 318 3 115,030 115,033 115,348 179,364 748,169 927,533 200,348

4.1 4.2	Raising funds Investment management Charitable activities Grant funding (see note 5) Support costs Support costs Travelling expenses Conference costs Grants management Bank charges Website Governance Travelling expenses Audit Accountancy Total expenditure	Unrestricted Endowment Total Total Fund Fund Funds Funds 2021 2021 2021 2020 £ £ £ £ 4,838 - 4,838 3,492 4,838 - 4,838 3,492 114,107 - 114,107 222,797 852 - 852 3,593 114,959 - 114,959 226,390 - - - - - - - - - - - 2,728 25 - 25 36 202 - 202 204 - - - - - - - - 625 - 625 625 852 - 852 3,593 119,797 - 119,797 229,882

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

5 Grants payable

Grants to institutions Basic Needs Basic Rights Kenya / CPSO Brighton Oasis Dreamfields Hope and Homes for Children Islington Giving School Home Support St Mary Islington Community Partnership Three2Six The Banyan Urban Hope	2021 2020 £ £ 15,768 80,583 22,231 48,448 19,851 - 10,000 - 5,000 - 10,000 20,000 8,000 8,000 - 37,036 15,257 20,730 8,000 8,000 114,107 222,797

6 Fixed asset investments

Cost of valuation At 1 October 2020 Additions Valuation changes Disposals At 30 September 2021 Carrying amount At 30 September 2021 At 30 September 2020	Listed Cash in Total investments portfolio investments £ £ £ 2,297,933 - 2,297,933 633,138 - 633,138 65,344 - 65,344 - - - 2,996,415 - 2,996,415 2,996,415 - 2,996,415 2,297,933 - 2,297,933

7 Debtors

Tax recoverable Prepayments and accrued income Accrued dividends	2021 2020 £ £ 162,500 - - 35 53,935 44,049 216,435 44,084

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

8 Creditors

Accruals and deferred income Other payables	2021 2020 £ £ - - 625 625 625 625

9 Trustee remuneration

None of the Trustees (or any persons connected with them) received any remuneration during the year.

Trustee meeting travel costs of £nil (2020 £nil) were met by the charity.

10 Staff costs

There were no employees during the year.

11 Funds

Endowment fund Unrestricted fund Fixed assets Bank and cash Debtors Creditors Unrestricted fund Endowment Fund	Balance at Incoming Resources Fund Investment Balance at 01-Oct-20 resources expended transfers gains/(losses) 30-Sep-21 £ £ £ £ £ £ 2,297,933 748,169 - (116,248) 66,561 2,996,415 93,027 179,364 (119,797) 116,248 - 268,842 2,390,960 927,533 (119,797) - 66,561 3,265,257 Unrestricted Restricted Total 2021 Total 2020 Funds Funds Funds Funds - 2,996,415 2,996,415 2,297,933 53,032 - 53,032 49,568 216,435 - 216,435 44,084 (625) - (625) (625) 268,842 2,996,415 3,265,257 2,390,960 01-Oct-20 Income Expenditure Transfers Gains/(losses) 30-Sep-21 £ £ £ £ £ 93,027 179,364 (119,797) 116,248 - 268,842 2,297,933 748,169 - (116,248) 66,561 2,996,415 2,390,960 927,533 (119,797) - 66,561 3,265,257
	2,390,960 927,533
	01-Oct-20 Income £ £ 93,027 179,364 2,297,933 748,169
	2,390,960 927,533

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

12 Commitments

Each grant has difference performance-related conditions attached to future funding commitments and the Trustees reasonably expect that the Foundations will have sufficient funds from current cash reserves and future investment income. The Trustees will ensure that appropriate donations are made to the Foundation to ensure that funds are available. Grant funding can be suspended if in the view of the Trustees the terms of the grant funding agreement are not met.

Basic Needs Basic Rights Kenya Basic Needs Basic Rights Kenya / CPSO Sacred Heart College (Three2Six) School Home Support St Mary Islington Community Partnership The Banyan Urban Hope	2021 2020 £ £ 3,441 - 10,383 - - 17,581 - 20,000 8,000 8,000 14,114 - - 8,000 35,938 53,581

13 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).