2023-09-30-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 2023

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 Name: The Breadsticks Foundation 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 (Chairwoman) Dr Paul Ballantyne (Secretary and Treasurer) Ms Beatrice Roberts Joe Payne (from 7 July 2023) Independent Examiner: Peter Saltiel Church & Charity Accounts Service Ltd 7 Planchadeau 23460 Saint-Pierre-Bellevue France Bankers: The Co-operative Bank Pic 1 Balloon Street Manchester M60 4EP

THE BREADSTICKS FOUNDATION

Trustees’ Report for the year ended 30 September 2023

The Trustees present their report and accounts for the year ended 30 September 2023.

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

Bankers: The Cooperative Bank Plc., 1 Balloon Street, Manchester, M60 4EP.

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 fund work with animals, medical research or capital and building projects, nor will we fund faith-based 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-toface interviews. The Trustees are open to collaborative funding of organisations and programmes with other grant-making bodies.

Achievements and performance

During the year, the Trustees made site visits to Mary’s, Oasis Project and Urban Hope and had executive meetings with Hope and Homes for Children, CPSO/BNK, School Home Support and Three2Six. We were generally pleased to see the progress achieved with the assistance of grants from the Breadsticks Foundation.

The following summarises our active grants in the year ending September 2023:

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 Programme) as the team restarted operations suspended by civil war in South Sudan. We have been funding CPSO, with Basic Needs assistance, since 2012, providing mental health support for displaced and traumatised victims of conflict in South Sudan.
Hope and Homes for Children. Our grant helped fund HHC’s pilot work in South Africa. HHC helps orphaned and vulnerable children live in supported and sustainable family units and supports national governments towards 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 orphanagebased care systems. In a significant step forward in June this year, after seven years of lobbying, the South African Government confirmed that a policy and plan for National De-institutionalisation will be written into the South African Care Reform Manual, and that HHC will support the production of this policy.
Three2Six, Johannesburg, South Africa. We provided core operational funding to Three2Six to enable it to transition to a proper primary school setting at Dominican Convent School. The 225 refugee children now have a full school day, a midday meal and are taught a full curriculum alongside South African children. The school also offers psychosocial and advocacy support to families to enable the children’s parents to establish their residency status and find work.

Three2Six Alumni Scholarships, Johannesburg, South Africa. The Breadsticks Foundation continues to provide scholarships at Holy Family College and Sacred Heart College to learners who previously studied at Three2Six. By the end of September 2023, four learners were being supported and two new Three2Six graduates will be added in each of the next three academic years. By 2026 the Breadsticks Foundation will be supporting ten learners to complete their school leaver qualifications at these academically good and nurturing high schools. We thank HFC and SHC for their support in this programme.

Grants in Asia

The Banyan, Chennai, India. The Banyan serves people living with mental health issues from socially-disadvantaged backgrounds, particularly those homeless, poor and from indigenous communities. Since its foundation in 1993, The Banyan has helped over a million low-income households across three Indian states, Tamil Nadu, Kerala and Maharashtra and we have supported The Banyan since 2013. The Banyan's flagship programme, the Emergency Care and Recovery Centres (ECRCs), offer acute mental health services for homeless people and has served over 4,000 women and men, often previously subject to systemic neglect. The Banyan’s Home Again programme enables people to live in homes in a community that mimics a family environment, with supportive social care and access to healthcare. In the first half of 2023, 739 people benefitted from ECRC services and 669 people had supported living services under Home Again.

Grants in the United Kingdom

Oasis Project, Brighton. Our 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. The Oasis Project won a prestigious Centre for Social Justice (CSJ) award in 2022. Our funding has enabled Young Oasis to nearly double its capacity. In the first half of 2023, 67% of the parents who scored their children as suffering high/very high levels of distress on arrival at Young Oasis, scored their child as “significantly improved” on the completion of therapy.
School Home Support. We provided core funding to SHS’s work to help tackle absenteeism in schools by working with children and their families. We have supported SHS since 2012 and seen them expand services geographically, Bradford being the latest new area last year, and grow their influence nationally. Meanwhile, demand has grown, due to the lingering effects of the pandemic, the cost-of-living crisis and cuts to essential services. In the year ended August 2023, SHS directly supported 5,248 children and family members. As a result, 73% of the children who had been persistently absent from school improved their attendance by an average of 10 percentage points, which equates to 20 extra days in school per pupil.
St Mary’s Islington Community Partnership. Our grant helped Mary’s youth club deliver its programmes to support young people in Islington. We have supported Mary’s

since 2016. Mary’s aims to encourage healthy lifestyles, foster social connections and develop leadership skills. In the first half of 2023, of 531 young people surveyed, 106 reported making “significant” progress towards being confident, resilient, and optimistic for the future.

Urban Hope, London. We part-funded 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. As well as providing a safe space in the evenings for up to 40 young people, Urban Hope has been particularly developing its relationships with local schools to support young people in the transition to secondary school.

Future Plans

The Trustees believe that long-term support to a focussed portfolio of around six grant partners is optimal. So we do not expect much change from the current portfolio. However, as described above, the Three2Six scholarship programme is expected to expand by two learners a year until it reaches its maximum size of 10 in 2026. Funding has been set aside to cover the estimated costs of these scholarships.

Financial Review, Reserves and Investment Policy

During the financial year the Foundation earned £155,815 in bond interest and £209 in bank interest, resulting in a total income of £156,024. Grants amounting to £184,477 were made to the organisations described above. In the course of disbursing funds, the Foundation incurred expenses that amounted to 2.7% of grants disbursed, mostly investment management fees. The cash balance at year end was £65,405.

The Foundation holds funds (Reserves) in the form of cash and long-term 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.

Risk Management

The Foundation’s assets are invested in a diverse portfolio of low-risk, UK corporate bonds. Cash is kept to match the near-term financial obligations of the Foundation to its partner organisations and is held on deposit with a UK clearing bank. 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 action on safeguarding must lie with the organisations and individuals directly delivering services, 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 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 Bea Roberts

Joe Payne (from 7 July 2023)

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.

Accountant: Peter Saltiel, Church & Charity Accounts Service Ltd, 7 Planchadeau, 23460 Saint Pierre Bellevue, France

Bankers: The Cooperative Bank Plc., 1 Balloon Street, Manchester, M60 4EP.

24[th] November 2023

Independent Examiner’s Report to the Trustees / Members of The Breadsticks Foundation for the year ended 30 September 2023

I report to the trustees on my examination of the accounts of The Breadsticks Foundation for the year ended 30 September 2023.

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

Peter Saltiel Church & Charity Accounts Service Ltd 7 Planchadeau 23460 Saint Pierre Bellevue France

Dated 5[th] December 2023

THE BREADSTICKS FOUNDATION

Statement of financial activities for the year ended 30 September 2023

Notes Income and endowments 3 Investments 3.1 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 2023 2022 £ £ £ £ - 156,024 156,024 151,641 - 156,024 156,024 151,641 4,035 - 4,035 5,777 185,397 - 185,397 92,449 189,432 - 189,432 98,226 - 337,546 337,546 (827,222) (189,432) 493,570 304,138 (773,807) 155,988 (155,988) - - 156,018 2,335,432 2,491,450 3,265,257 122,574 2,673,014 2,795,588 2,491,450

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 2023

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	£ 65,405 57,844 123,249 675	2023 2022 £ £ £ 2,673,014 2,335,432 98,762 57,881 156,643 625 122,574 156,018 2,795,588 2,491,450 122,574 156,018 2,673,014 2,335,432 2,795,588 2,491,450

Signed on behalf of all the trustees

on the 24[th] November 2023

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

3.1	Investments Income from listed investments Interest Total income	Unrestricted Endowment Total Total Fund Fund General Funds Funds 2023 2023 2023 2022 £ £ £ £ - 155,815 155,815 151,641 - 209 209 - - 156,024 156,024 151,641 - 156,024 156,024 151,641

4 Analysis of expenditure

4.1 4.2	Raising funds Investment management Charitable activities Grant funding (see note 5) Support costs Support costs Website Governance Accountancy Total expenditure	Unrestricted Endowment Total Total Fund Fund Funds Funds 2023 2023 2023 2022 £ £ £ £ 4,035 - 4,035 5,777 4,035 - 4,035 5,777 184,477 - 184,477 91,824 920 - 920 625 185,397 - 185,397 92,449 245 - 245 - 675 - 675 625 920 - 920 625 189,432 - 189,432 98,226

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

5 Grants payable

Grants to institutions Basic Needs Basic Rights Kenya / CPSO Oasis Project Holy Family College Hope and Homes for Children Sacred Heart College School Home Support St Mary Islington Community Partnership The Banyan Three2Six	2023 2022 £ £ 15,111 16,620 23,129 22,676 10,589 3,994 60,000 - 6,351 2,921 25,000 20,000 12,000 8,000 17,384 17,613 14,913 - 184,477 91,824

6 Fixed asset investments

Cost of valuation At 1 October 2022 Additions Valuation changes Disposals At 30 September 2023 Carrying amount At 30 September 2023 At 30 September 2022	Listed Cash in Total investments portfolio investments £ £ £ 2,335,432 - 2,335,432 - - - 337,582 - 337,582 - - - 2,673,014 - 2,673,014 2,673,014 - 2,673,014 2,335,432 - 2,335,432

7 Debtors

Accrued dividends

2023	2022
£	£
57,844	57,881
57,844	57,881

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

8 Creditors

Other payables	2023 2022 £ £ 675 625 675 625

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 (2022 £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-22 resources expended transfers gains/(losses) 30-Sep-23 £ £ £ £ £ £ 2,335,432 156,024 - (155,988) 337,546 2,673,014 156,018 - (189,432) 155,988 - 122,574 2,491,450 156,024 (189,432) - 337,546 2,795,588 Unrestricted Restricted Total 2023 Total 2022 Funds Funds Funds Funds - 2,673,014 2,673,014 2,335,432 65,405 - 65,405 98,762 57,844 - 57,844 57,881 (675) - (675) (625) 122,574 2,673,014 2,795,588 2,491,450 01-Oct-22 Income Expenditure Transfers Gains/(losses) 30-Sep-23 £ £ £ £ £ 156,018 - (189,432) 155,988 - 122,574 2,335,432 156,024 - (155,988) 337,546 2,673,014 2,491,450 156,024 (189,432) - 337,546 2,795,588
	2,491,450 156,024
	01-Oct-22 Income £ £ 156,018 - 2,335,432 156,024
	2,491,450 156,024

THE BREADSTICKS FOUNDATION

Notes to the Accounts (cont’d)

12 Commitments

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

Basic Needs Basic Rights Kenya Basic Needs Basic Rights Kenya / CPSO Oasis Project Holy Family College Hope & Homes for Children Sacred Heart College, Johannesburg School Home Support St Mary Islington Community Partnership The Banyan Three2Six	2023 2022 £ £ 3,801 3,990 11,470 12,038 23,592 22,676 14,963 8,076 30,000 - 8,933 - 25,000 - 12,000 - 17,885 18,518 14,696 6,246 162,340 71,544

13 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).