Docusign Envelope ID". 78635527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 Charity Registration No. 1159386
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION CONTENTS Page Trustees, Annual Report statement of Financial Activities Balance Sheet Notes to the Financial Statements
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2025 The Trustees present their report and financial statements for the year ended 31st August 2025 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 1st January 2019). OBJECTIVES AND ACTIVITIES The Charitable Incorporated Organisation's objects are- 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. To advan 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 Trip To Nigeria Our Trustees have met several times this year to continue with the work of the organisation giving support where necessary and sign posting patients. Two of our Trustees went to Nigeria in January 2024 and were able to visit the clinics and meet up with partners and patients. We visited a Church medical centre where some of their congregations have chronic asthma. We donated nebulizers, peak-flows and inhalers. University College Hospital {UCH) Ibadan We went to the Obafemi Awolowo University Teaching Hospital where we met the Director of Nursing. We later went to the Chest Clinic to meet our partners and patients where we made donations of nebulizers, and inhalers. FINANCIAL REVIEW Total income for the year was £4,609 (2024.. £3,393). Total expenditure for the year was £4,829 (2024.. £2,099), leaving a deficit for the year of £220 (2024: surplus £1,294) At 318t August 2025 the Charitable Incorporated Organisation's reserves stood at£16,322 (2024.. £16,542) of which £nil {2024- £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.
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2025 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. As at the end of the financial year the unrestricted funds totalled £16,322. The Charitable Incorporated Organisation requires £1,207 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 We will continue to support chronic Asthmatic patients both in the United Kingdom and Nigeria through fund raising activities. Our sincere thanks to our Patron -Dame Lorna Muirhead and her husband Dr Ronald Muirhead for their encouragement and financial support, to all our donors, Bridge Chapel Congregation, families, friends and above all the trustees and volunteers for their hard work all year round. A big thanks to shops such as Dress Sense and New Image Hair Saloon (Kensington, Liverpool) which have been helping with our collection boxes. May God continue to bless you all. Above all we thank God Almighty for this work. STRUCTURE, GOVERNANCE AND MANAGEMENT Breathe Easy Foundation is a registered Charitable Incorporated Organisation (CIO), number 1159386 formed on 27th November 2014, under the terms of the Constitution dated 20th 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 four years as per the Constitution.
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2025 REFERENCE AND ADMINISTRATIVE DETAILS Name Breathe Easy Foundation 1159386 Charity number Address & Office 7 Vyner Road South Liverpool L25 3PU Trustees The members of the Board of Trustees are as follows.. A Abbey l Adewusi C B Akeju D O Akeju OBE K E Akeju C Casswell Dr J Garr P Thomas Bankers Barclays Bank UK PIC Liverpool South, Leicestershire, Leicester, England, LE 87 2BB Signed on behalf of the Trustees 17 JLJne 2026 93DAX D O Akeju OBE, Trustee Date
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2025 Notes Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Income and Endowments from: Donations and legacies 4,609 4,609 3.393 Total income 4,609 4,609 3,393 Expenditure on: Charitable activities 4,829 4,829 2.099 Totsl expenditure 4,829 4,829 2,099 Net (expenditure)lincome, net movement in funds (220) (220) 1,294 Total funds brought forward 16,542 16.542 15,248 Total funds carried forward 16,322 16,322 16,542 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
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION BALANCE SHEET AS AT 31ST AUGUST 2025 Notes 318t August 2025 318t August 2024 Fixed assets Tangible fixed assets Current assets Debtors Cash at bank and in hand 16,853 17,625 16,853 17,625 Current liabilities Creditors- amounls falling due within one year (531) (1,083) Net current assets 16,322 16,542 Total assets less current liabilities 16,322 16,542 Funds: Unrestricted funds Restricted funds 16,322 16,542 16,322 16,542 17 June 2026 Approved by Trustees on ............................ $tsY.. F41t02DA10BF 02 D O Akeju OBE, Trustee
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 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 Practi. 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 1st January 2019 and Charities Act2011. 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 On 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 Organization to that expenditure, it is probable that settlement will be required, and Ihe amount of Ihe obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities.
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Expenditure on charitable activilies relates to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the Charitable Incorporated Organization. Support and governance costs relate to the management and operation of the organization and 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 '0ther 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 slatements, 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 SoUrs.
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 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 accrual 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 govemance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Cost of charitable activities relates 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 organization 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 bythe 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 Ihose exemptions. The Charitable Incorporated Organisation cannot recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 2. Income and endowments from: Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Donations and legacies Donalions 4,609 4,609 3,393 3. Expenditure on Charitable activities Direct Support & Charitable Governance Expenditure Costs Total 2025 Total 2024 To promote and protect the physical and mental health of suffers of asthma and allergies in Nigeria and UK. 4,285 544 4,829 2,099
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 a. analysed as follows.. 2025 2024 Direct Charitable Expenditu." Trips and activities 4,285 1.311 4,285 1,311 Support and governance costs.. Refreshments Stationery and postage Bank Charges Accountancy fees 45 225 13 531 518 544 788 Total expenditure on Charitable activities 4,829 2,099 All the above expenditure relates to unrestricted funding. b. Staff Costs There were no employees during the year ended 31st August 2025 {2024: 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 31st August 2025 {2024.' £nil). 5. Debtors There were no debtors as at 31st August 202512024: none). 6. Creditors: amounts falling due within one year 2025 2024 Accruals 531 1,083 10
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 7. Analysis of net assets between Funds 2025 Tangible fixed assets Net current assets Total Unrestricted Funds General Fund 16.322 16,322 Restricted Funds Totals 16,322 16,322 2024 Tangible fixed assets Net current assets Totsl Unrestricted Funds General Fund 16,542 16,542 Restricted Funds Totals 16,542 16,542 8. Unrestricted funds Movements in the Year Income Expenditure Reserves at beginning of Year Reserves at End of Year 2025 General Fund 16,542 4,609 4,829 16,322 Movements in the Year Income Expenditure Reserves at beginning of Year Reserves at End of Year 2024 General Fund 15,248 3,393 (2,099) 16,542 General Fund is used to finance the Charitable Incorporated Organisation's general activities and core costs as outlined in the Trustees, Report.
Docusign Envelope ID". 78636527-1E68-876A-8026-D73C822537F5 BREATHE EASY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 9. Restricted funds There were no restricted funds received during the year or held as at the year ended 31. August 2025 {2024: none). 10. Guarantees and Other Financial Commitments There are no financial commitments under non-cancellable operating leases (2024.. none). 11. Related Parties There were no material related party transactions during this or the previous year which require disclosure. 12