Trustees’ Annual Report for the period
From 6 January 2020 To 31 December 2020 Period end date
Charity name: Break Off Labs
Charity registration number: 1187213
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the CIO are to advance the education of the public in the subjects of science, technology, engineering and maths (STEM), by the provision of grants and financial support and by promoting research and disseminating the useful results of that research. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Due to COVID Break Off Labs was not very active in its first year. A small amount of funding was raised to contribute towards the objects. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | Break Off Labs has ensured that it is being operated for public benefit only. |
Achievements and Performance
SORP reference
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Break Off Labs setup a virtual round- the-world relay to raise funding for climate change research and associated charitable causes. People record their activities using Strava and donate to the Charity. This was commenced in December, so only a small amount of funding was raised. Prior to that the website was built and minimal activity due to COVID. Money raised from the virtual relay has not been used towards any research as of the end of the financial period, but some has been set aside for charitable causes in this area. |
|---|---|---|
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Charity held the equivalent of £478 in cash, with a portion of that set aside for PlantYourFuture. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Funds were raised at the end of the year and not deployed. |
| Amount of reserves held | Para 1.22 | Equivalent of £231 net of liabilities |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document | Para 1.25 | “Foundation” model Constitution |
| How is the charity constituted? |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees have been chosen based on their skillset and knowledge of specific areas or general charity management. |
Reference and Administrative details
| Charity name | Break Off Labs |
|---|---|
| Other name the charity uses | N/A |
| Registered charity number | 1187213 |
43 Berkeley Square London W1J 5AP United Kingdom
Charity’s principal address
Names of the charity trustees who manage the charity
| 1 2 3 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Hamish Magoffin | - | - | - | |
| Ilija Rasovic | - | - | - | |
| Matthias Tietze | - | - | - |
Funds held as custodian trustees on behalf of others
Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Exemptions from disclosure
Reason for non-disclosure of key personnel details
N/A
Declarations
Signature(s) Full name(s) Hamish Magoffin Position (eg Secretary, Chair Chair, etc) Date 27 October 2021
Break Off Labs Charity Number 1187213 Annual Accounts Year End 31 December 2020
Break Off Labs Balance Sheet As of 31 December 2020
4:04 PM 27/10/21 Accrual Basis
| ASSETS Current Assets Cash at bank and in hand Total Current Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Total Current Liabilities Total Liabilities Capital and Reserves Profit for the Year Shareholder funds TOTAL LIABILITIES & EQUITY |
31 Dec 20 |
|---|---|
| 479.61 | |
| 479.61 | |
| 479.61 | |
| 248.13 | |
| 248.13 | |
| 248.13 231.48 |
|
| 231.48 | |
| 479.61 |
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4:05 PM 27/10/21 Accrual Basis
Break Off Labs Profit & Loss January through December 2020
| Ordinary Income/Expense Income Gifts and Donations Income Total Income Gross Profit Expense Donations Miscellaneous Expense Payment Processing Fees Total Expense Net Ordinary Income Profit for the Year |
Jan - Dec 20 |
|---|---|
| 478.00 | |
| 478.00 | |
| 478.00 211.48 24.00 11.04 |
|
| 246.52 | |
| 231.48 | |
| 231.48 |
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