BREATHE EASY FOUNDATION
UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
Charity Registration No. 1159386
BREATHE EASY FOUNDATION
| CONTENTS | |
|---|---|
| Page | |
| Trustees’ Annual Report | 2 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 |
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BREATHE EASY FOUNDATION TRUSTEES’ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2023
The Trustees present their report and financial statements for the year ended 31[st] August 2023 for the Charitable Incorporated Organisation.
The financial statements have been prepared in accordance with the charity’s trust deed, the Charities Act 2011 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 published (FRS 102) (effective 1[st] January 2019).
OBJECTIVES AND ACTIVITIES
The Charitable Incorporated Organisation’s objects are:
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To promote and protect the physical and mental health of sufferers of asthma and allergies in Nigeria and UK through provision of financial assistance, support, education, and practical advice and working with the organisations.
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To advance the education of the general public in all areas relating to asthma and allergies including working in partnership with other organisations in UK and Nigeria.
Public Benefits
In considering the objectives and activities, the Trustees have considered the Charity Commission’s guidance on Public Benefit to ensure that the organisation is meeting its Public Benefit requirements.
ACHIEVEMENTS AND PERFORMANCE
Intergenerational Walk/Run 17th September 2022
The Intergenerational walk or run was planned for all ages from different Community groups or Faith to come together to help the organisation to raise the issues around Asthma and allergies. It was a lovely day and God blessed us with dry weather with a bit of sunshine. It took place at the Sefton Park Liverpool 17. The opportunity was also used as a fund-raising event for patients with Chronic Asthma in the UK and Nigeria with support from the Soroptimists International Liverpool.
We had over 200 participants from age 4 to over 80 year old, all the way from Lancaster, Manchester and of course our friends and supporters from different Community groups, Soroptimists International Liverpool and members from our Church Bridge Chapel. Our Patron Dame Lorna and her husband Dr Renold Muirhead graced the occasion for us, the atmosphere was complimented by music from the Ashfield Company thanks to Mr and Mrs Mercer for donating their time to support the day with speakers etc.
Trip To Nigeria
Our two trustees/volunteers travelled to Nigeria on the 10[th] of January 2023 so as to meet our partners and patients. Their first visit was to the University College Hospital (UCH) Ibadan on the 25[th] of January. They joined the Asthma club patients who had come for their monthly meeting. They were all delighted to see us. The chair thanked the staff and the patients for the part they played on the 17[th] of September 2022 when they joined our volunteer in Nigeria-Mrs Aderonke Akinwumi to raise Asthma awareness at the Gbagi market at Ibadan Nigeria same day as our Intergenerational Walk and Run. The Matron spoke about Asthma condition, the symptoms and the triggers. (a video of this is on Breathe Easy Foundation (BEF’s) facebook). The members of the Asthma club were given T shirts with Breathe Easy Foundation logo
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BREATHE EASY FOUNDATION TRUSTEES’ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2023
Obafemi Awalowo University Teaching Hospital
We visited Obafemi Awolowo University Teaching Hospital (OAUTH) Ile-Ife on the 31[st] of January. We were welcomed by the Chief Medical Director (CMD), Professor Erhabor, Dr Awopeju and the hospital communication Team. The chair gave a short history about the organisation. The CMD gave a short speech and thanked the organisation for what it has been doing. 20 Nebulizers, Ventolin inhalers, peak-flows and Mouthpieces were donated to the Hospital. These will be shared by the Accident and Emergency, Medical wards and clinics, and Paediatric wards. Some will be sent to the Wesley Hospital, Ilesha- an outreach hospital which is about 20 miles to Ile-Ife.
The Founders /trustees Mr Claudius Akeju and Dorcas Akeju OBE plus our Volunteer in Nigeria Mrs Ronke Akinwumi being interviewed by the OAUTH Communication Team.
We also made some donations of Ventolin inhalers and nebulizers to local churches and to local partner-Asthma and Chest Centre Foundation which was set up to help those who could not afford to pay for their treatment.
University Teaching Hospital Ibadan
On the 8[th] of February we went back to UCH Ibadan to donate Nebulizers, Ventolin Inhalers, peak flows and mouthpieces. We were welcomed by the Chief Medical Director Professor Jessi Otegbayo, Board of Directors, Deputy Director of Nursing and Head of Departments. It was well organised by Professor Ige who has been our contact from the onset of our partnership with UCH. He made the first speech about how BEF was set up and we have been working with UCH. The Chair was given opportunity to say few words which is on a video clip on Facebook (Uch Ibadan Facebook/Videos). We then presented the items to the CMD who gave the vote of thanks.
We were informed that some of the Nebulizers will be going to the Outreach Health Centres outside Ibadan Iseyin and Okuku where there have been rise in Asthmatic attacks.
Our sincere thanks to our Patron Dame Lorna and her husband Dr Muirhead, to all donors who have made it possible to buy so many Nebulizers to donate, our families, Merseyside Yoruba Community Association, Soroptimists International Liverpool and our church congregation for their prayers.
FINANCIAL REVIEW
Total income for the year was £5,425 (2022: £1,745).
Total expenditure for the year was £3,509 (2022: £3,688), leaving a surplus for the year of £1,916 (2022: surplus £1,963)
At 31[st] August 2023 the Charitable Incorporated Organisation’s reserves stood at £15,248 (2022: £13,332) of which £nil (2022: £nil) represented restricted funds.
RISK MANAGEMENT
The main risks to which the Charitable Incorporated Organisation is exposed to as identified by the Trustees have been considered and systems have been established to mitigate those risks.
RESERVES POLICY
It is the policy of the Charitable Incorporated Organisation to maintain unrestricted funds, which are free reserves at a level to cover three months’ running costs should no further funding be received.
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BREATHE EASY FOUNDATION TRUSTEES’ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2023
As at the end of the financial year the unrestricted funds totalled £15,248. The Charitable Incorporated Organisation requires £877 for three months’ running costs.
The balance of unrestricted reserves is to contribute towards medication and luggage charges on the airplane for the visits to Nigeria.
PLANS FOR THE FUTURE
The trustees as volunteers will continue to support the activities of the organisation and its smooth running, also to raise funds to buy essential equipment for asthma.
We are planning a fund raising to promote and protect the physical and mental health of suffers of asthma and allergies in Nigeria and UK
STRUCTURE, GOVERNANCE AND MANAGEMENT
Breathe Easy Foundation is a registered Charitable Incorporated Organisation (CIO), number 1159386 formed on 27[th] November 2014, under the terms of the Constitution dated 20[th] July 2014.
The Board of Trustees shall consist of not less than three members and no more than 12 members. All the members of the Board of Trustees shall retire after three years except for the first Trustees, who will retire after three or fours years as per the Constitution.
REFERENCE AND ADMINISTRATIVE DETAILS
| Name | Breathe Easy Foundation |
|---|---|
| Charity number | 1159386 |
| Address & Office | 7 Vyner Road South |
| Liverpool | |
| L25 3PU | |
| Trustees | The members of the Board of Trustees are as follows: |
| A Abbey | |
| I Adewusi | |
| C B Akeju | |
| D O Akeju OBE | |
| K E Akeju | |
| C Casswell | |
| Dr J Garr | |
| P Thomas | |
| Bankers | Barclays Bank UK Plc |
| Liverpool South, | |
| Leicestershire, | |
| Leicester, England, | |
| LE 87 2BB |
Signed on behalf of the Trustees
……………………………………… ………………………………… I Adewusi, Trustee Date
28/06/2024
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BREATHE EASY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] AUGUST 2023
| Notes | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2023 | 2023 | 2023 | 2022 | ||
| Income and Endowments | £ | £ | £ | £ | |
| from: | |||||
| Donations and legacies | 2 | 5,425 | - | 5,425 | 1,745 |
| ------------ | ------------ | ------------ | ------------ | ||
| Total income | 5,425 | - | 5,425 | 1,745 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Expenditure on: | |||||
| Charitable activities | 3 | 3,509 | - | 3,509 | 3,668 |
| ------------ | ------------ | ------------ | ------------ | ||
| Total expenditure | 3,509 | - | 3,509 | 3,688 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Net income, net movement in funds |
1,916 | - | 1,916 | (1,923) | |
| Total funds brought forward |
8, 9 | 13,332 | - | 13,332 | 15,255 |
| ------------ | ------------ | ------------ | ------------ | ||
| Total funds carried forward |
7 - 9 | 15,248 | - | 15,248 | 13,332 |
| ======= | ======= | ======= | ======= |
The notes on pages 7 to 12 form part of these accounts.
All the above amounts relate to continuing activities of the Charitable Incorporated Organisation
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BREATHE EASY FOUNDATION BALANCE SHEET AS AT 31[ST] AUGUST 2023
| Notes | 31st August 2023 | 31st August 2023 | 31st August | 2022 | |
|---|---|---|---|---|---|
| Fixed assets | £ | £ | £ | £ | |
| Tangible fixed assets | 4 | - | - | ||
| Current assets | |||||
| Debtors | 5 | - | - | ||
| Cash at bank and in hand | 16,213 | 13,732 | |||
| ----------- | ----------- | ||||
| 16,213 | 13,732 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within one year |
6 | (965) | (400) | ||
| ----------- | ----------- | ||||
| Net current assets | 15,248 | 13,332 | |||
| ----------- | ----------- | ||||
| Total assets less current liabilities | 15,248 | 13,332 | |||
| ====== | ====== | ||||
| Funds: | |||||
| Unrestricted funds | 7, 8 | 15,248 | 13,332 | ||
| Restricted funds | 7, 9 | - | - | ||
| ----------- | ----------- | ||||
| 15,248 | 13,332 | ||||
| ====== | ====== |
28/06/2024 Approved by Trustees on ……………………….
…………………………………. I Adewusi, Trustee
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BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
1. Accounting Policies
Basis of Accounting
The 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. The financial statements have been prepared in 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 (FRS102) (SORP 2019) effective 1[st] January 2019 and Charities Act 2011.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The Charitable Incorporated Organisation has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Fund accounting
Unrestricted funds are the charitable Incorporated Organisation’s free reserves available for the Trustees to apply in accordance with the charitable objects.
Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund.
Fixed Assets
Capital expenditure is stated in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of each asset over its expected useful life.
Income recognition
All income is recognised once the Charitable Incorporated Organisation has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donations and legacies comprise of donations which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain.
Expenditure recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charitable Incorporated Organisation to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual’s basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities.
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BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.
Expenditure on charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the Charitable Incorporated Organisation. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
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 and bank loans 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
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BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.
Cost of charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charity. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity
Taxation
Income and gains are exempt from taxation as they are received and applied for charitable purposes only. The Charitable Incorporated Organisation benefits from various exemptions from taxation afforded by tax legislation and are not liable to corporation tax on income or gains falling within those exemptions. The Charitable Incorporated Organisation is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.
2. Income and endowments from:
| . Income and endowments from: | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds |
Funds | Funds | |
| 2023 | 2023 |
2023 | 2022 | |
| Donations and legacies | £ | £ | £ | £ |
| Donations | 5,425 | - |
5,425 | 1,745 |
| ======= | ======= |
======= | ======= | |
| . Expenditure on Charitable activities | ||||
| Direct | Support & | Total | Total | |
| Charitable | Governance | 2023 | 2022 | |
| Expenditure | Costs | |||
| £ | £ | £ | £ | |
| To promote and protect the | ||||
| physical and mental health of suffers of asthma and allergies in |
2,349 | 1,160 | 3,509 | 3,668 |
| Nigeria and UK. | ||||
| ====== | ====== | ====== | ====== |
3. Expenditure on Charitable activities
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BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
a. analysed as follows:
| .analysed as follows: | ||
|---|---|---|
| 2023 | 2022 | |
| Direct Charitable Expenditure: | £ |
£ |
| Trips and refreshments | 2,349 | 2,308 |
| Venue hire | - | 30 |
| ---------- | ---------- | |
| 2,349 | 2,338 | |
| ---------- | ---------- | |
| Support and governance costs: | £ | £ |
| Travel expenses | 87 | - |
| Refreshments | 43 | 340 |
| Booklets | 300 | - |
| Gifts | 135 | - |
| Stationery and postage | - | 254 |
| Uniforms | 30 | 336 |
| Accountancy fees | 565 | 400 |
| ---------- | ---------- | |
| 1,160 | 1,330 | |
| ---------- | ---------- | |
| Total expenditure on Charitable activities |
3,509 | 3,668 |
| ====== | ====== |
All of the above expenditure relates to unrestricted funding.
b. Staff Costs
There were no employees during the year ended 31[st] August 2023 (2022: none).
The Trustees are not remunerated for their services.
4. Tangible fixed assets
There were no tangible fixed assets held during or as at the year ended 31[st] August 2023 (2022: £nil).
5. Debtors
There were no debtors as at 31[st] August 2023 (2022: none).
6. Creditors: amounts falling due within one year
| reditors: amounts falling | due within one year | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Accruals | 965 | 400 |
| ====== | ====== |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
BREATHE EASY FOUNDATION
7. Analysis of net assets between Funds
| 2023 | Tangible | Net | Total |
|---|---|---|---|
| fixed | current | ||
| assets | assets | ||
| Unrestricted Funds | £ | £ | £ |
| General Fund | - | 15,248 | 15,248 |
| Restricted Funds | - | - | - |
| ------------ | ------------ | ------------ | |
| Totals | - | 15,248 | 15,248 |
| ======= | ======= | ======= | |
| 2022 | Tangible | Net | Total |
| fixed | current | ||
| assets | assets | ||
| Unrestricted Funds | £ | £ | £ |
| General Fund | - | 13,332 | 13,332 |
| Restricted Funds | - | - | - |
| ------------ | ------------ | ------------ | |
| Totals | - | 13,332 | 13,332 |
| ======= | ======= | ======= |
8. Unrestricted funds
| Movements in the Year | Movements in the Year | |||
|---|---|---|---|---|
| Reserves | Income | Expenditure | Reserves | |
| 2023 | at beginning | at End | ||
| of Year | of Year | |||
| £ | £ | £ | £ | |
| General Fund | 13,332 | 5,425 | (3,509) | 15,248 |
| ======= | ======= | ======== | ======= | |
| Movements in the Year | ||||
| Reserves | Income | Expenditure | Reserves | |
| 2022 | at beginning | at End | ||
| of Year | of Year | |||
| £ | £ | £ | £ | |
| General Fund | 15,255 | 1,745 | (3,668) | 13,332 |
| ======= | ======= | ======== | ======= |
General Fund is used to finance the Charitable Incorporated Organisation’s general activities and core costs as outlined in the Trustees’ Report.
9. Restricted funds
There were no restricted funds received during the year or held as at the year ended 31[st] August 2023 (2022: none).
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BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2023
10. Guarantees and Other Financial Commitments
There are no financial commitments under non-cancellable operating leases (2022: none).
11. Related Parties
There were no material related party transactions during this or the previous year which require disclosure.
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] AUGUST 2023
BREATHE EASY FOUNDATION
(This page does not form part of the statutory financial statements)
| 2023 | 2022 | |
|---|---|---|
| INCOME | £ |
£ |
| Donations | 5,425 | 1,745 |
| ------------ | ------------ | |
| Total Income | 5,425 | 1,745 |
| ------------ | ------------ | |
| EXPENDITURE | ||
| Charitable activities | ||
| Refreshments | 43 | 340 |
| Trips and activities5, | 2,349 | 2,308 |
| Stationery and postage | - | 254 |
| Booklets | 300 | - |
| Travel and transport costs | 87 | - |
| Venue hire | - | 30 |
| Uniforms | 30 | 336 |
| Gifts | 135 | - |
| Accountancy fees | 565 | 400 |
| ----------- | ----------- | |
| Total expenditure on charitable activities | 3,509 | 3,668 |
| ----------- | ----------- | |
| Net income/(expenditure) in the year | 1,916 | (1,923) |
| ====== | ====== |
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