Charity registration number 1142781
Company registration number 07473672 (England and Wales)
BREYER FOUNDATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
BREYER FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr. T Breyer | |
|---|---|---|
| Mrs A Vella | ||
| Mr M Plant | (Appointed 2 February 2025) | |
| Charity number | 1142781 | |
| Company number | 07473672 | |
| Registered office | Faringdon Avenue | |
| Harold Hill | ||
| Romford | ||
| Essex | ||
| RM3 8ST | ||
| Independent examiner | Gary Allen FCA | |
| TC Group | ||
| Lynton House | ||
| 7-12 Tavistock Square | ||
| London | ||
| WC1H 9BQ |
BREYER FOUNDATION LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 - 10 |
BREYER FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MAY 2024
The trustees present their annual report and financial statements for the year ended 31 May 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The Foundation provides funding to organisations or charities with suitable aims or projects that meet the Foundations objects. Bids for funding must be supported by completion of an application form. We monitor outcomes through a report at an agreed interval after completion of a project and visits by our trustees.
We have four principle objectives:
-
Promoting the education of the long term unemployed by for example grants, short term courses or apprenticeships.
-
Promoting the advancement of citizenship or the development of the community by developing capacity and skills of socially disadvantaged communities.
-
The relief of unemployment for the benefit of the public.
-
Urban or rural regeneration in areas of social and economic deprivation.
The charity's activities to meet its objectives include delivering community based initiatives to Women, BAME, Over 50's, Young People and those far from the labour market.
In carrying out the activities of the charity the trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Achievements and performance
The Foundation offers training and support for those looking to gain an insight into the Construction Industry and the wide range of roles within it. With this in mind, we work with our partners to provide a pathway into fully funded training and apprenticeship schemes.
The Foundation also raises funds through donations and annual fundraising events, including a golf day and Boxing evening. From this income, we provide grants to charities and not-for-profit organisations that work with their local community to provide education and economic development programmes.
In addition, the Foundation continues to work in our local communities to establish and develop 'Place of Change' hubs. From this community base, Foundation helps to arrange community events, workshops and training, through the support of local suppliers and contractors.
Financial review
During the year, the charity generated total income of £71,744 (2023: £47,926) and made donations and sponsorships totalling £22,028 (2023: £12,270). The charity's net income was £14,972 (2023: £12,437) for the year. At 31 May 2024 the charity had unrestricted reserves of £47,014 (2023: £32,402). We consider the performance has been satisfactory during the year and that the Foundation has a good level of reserves to continue with its work for the forthcoming year.
- 1 -
BREYER FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The company is a registered charity, number 114278.
The charity is run by a board of trustee and constituted as a company limited by guarantee. The governing document is the company's articles of association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr. T Breyer Mr N Fisher (Resigned 20 March 2024) Mrs A Vella Mr T Lacey (Resigned 6 June 2023) Mr M Plant (Appointed 2 February 2025)
Recruitment and appointment of trustees
New trustee appointments may be made by ordinary resolution.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Mr. T Breyer Trustee
13 March 2025
- 2 -
BREYER FOUNDATION LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MAY 2024
The trustees, who are also the directors of Breyer Foundation Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 3 -
BREYER FOUNDATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BREYER FOUNDATION LIMITED
I report to the trustees on my examination of the financial statements of Breyer Foundation Limited (the charity) for the year ended 31 May 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no 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 charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Gary Allen FCA
TC Group Lynton House 7-12 Tavistock Square London WC1H 9BQ
Dated: 13 March 2025
- 4 -
BREYER FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 4,135 | - |
| Other trading activities | 3 | 67,609 | 47,926 |
| Total income | 71,744 | 47,926 | |
| Expenditure on: | |||
| Raising funds | 4 | 34,744 | 23,219 |
| Charitable activities | 5 | 22,028 | 12,270 |
| Total expenditure | 56,772 | 35,489 | |
| Net income and movement in funds | 14,972 | 12,437 | |
| Reconciliation of funds: | |||
| Fund balances at 1 June 2023 | 32,042 | 19,605 | |
| Fund balances at 31 May 2024 | 47,014 | 32,042 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
BREYER FOUNDATION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024
| Notes Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Net assets excluding pension liability The funds of the charity Unrestricted funds |
2024 £ 5,100 42,814 47,914 (900) |
£ 47,014 47,014 47,014 47,014 |
2023 £ 3,000 29,942 32,942 (900) |
£ 32,042 |
|---|---|---|---|---|
| 32,042 | ||||
| 32,042 | ||||
| 32,042 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 13 March 2025
Mr. T Breyer
Trustee
Company registration number 07473672 (England and Wales)
- 6 -
FOR THE YEAR ENDED 31 MAY 2024
BREYER FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
Charity information
Breyer Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Faringdon Avenue, Harold Hill, Romford, Essex, RM3 8ST.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
BREYER FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 4,135 | - |
- 8 -
BREYER FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
3 Income from other trading activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising events | 67,609 | 47,926 | |
| 4 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staging fundraising events | 34,744 | 23,219 | |
| 5 | Expenditure on charitable activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Donations | 21,997 | 4,717 | |
| Training | - | 1,875 | |
| Marketing | - | 5,665 | |
| 21,997 | 12,257 | ||
| Share of support and governance costs | |||
| Support | 31 | 13 | |
| 22,028 | 12,270 | ||
| Analysis by fund | |||
| Unrestricted funds | 22,028 | 12,270 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 9 -
BREYER FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
8 Debtors
| 8 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Trade debtors Other debtors 9 Creditors: amounts falling due within one year Accruals and deferred income |
2024 £ 2,100 3,000 5,100 2024 £ 900 |
2023 £ - 3,000 |
| 3,000 | ||
| 2023 £ 900 |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 June 2023 | Incoming | Resources | At 31 May | |
|---|---|---|---|---|
| resources | expended | 2024 | ||
| £ | £ | £ | £ | |
| General funds | 32,042 | 71,744 | (56,772) | 47,014 |
| Previous year: | At 1 June 2022 | Incoming | Resources | At 31 May |
| resources | expended | 2023 | ||
| £ | £ | £ | £ | |
| General funds | 19,605 | 47,926 | (35,489) | 32,042 |
11 Related party transactions
At the year end the charity was owed £3,000 (2023 - £3,000) by a company controlled by one of the trustees
- 10 -