Trustees’ Annual Report for the period
From 1 January 2021 To 31 December 2021 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 this year again. 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 towards the end of 2020. Part of the funds raised were deployed into climate change initiatives by PlantYourFuture. Funding raised from the virtual relay has not yet been used towards any research as of the end of the financial period. |
|---|---|---|
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Charity held the equivalent of £1,170 in cash. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Funds were raised but not deployed due to COVID. |
| Amount of reserves held | Para 1.22 | Equivalent of £858 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 13 September 2022
Break Off Labs Charity Number 1187213 Annual Accounts Year End 31 December 2021w
Break Off Labs
Profit and Loss
January - December 2021
| TOTAL | |
|---|---|
| Income | £1,771.00 |
| GROSS PROFIT | £1,771.00 |
| Expenses | |
| Computer and Internet Expenses | 23.32 |
| Donations | 848.20 |
| Office Expense | 245.51 |
| Payment Processing Fees | 26.58 |
| Total Expenses | £1,143.61 |
| NET OPERATING INCOME | £627.39 |
| Other Expenses | £0.00 |
| NET OTHER INCOME | £0.00 |
| NET INCOME | £627.39 |
Accrual Basis Tuesday, 13 September 2022 08:11 am GMT+01:00
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Break Off Labs
Balance Sheet
As of December 31, 2021
| TOTAL | |
|---|---|
| Fixed Asset | |
| Total Fixed Asset | |
| Cash at bank and in hand | £1,170.00 |
| Debtors | £0.00 |
| Current Assets | £0.00 |
| NET CURRENT ASSETS | £1,170.00 |
| Creditors: amounts falling due within one year | £312.47 |
| NET CURRENT ASSETS (LIABILITIES) | £857.53 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | £857.53 |
| TOTAL NET ASSETS (LIABILITIES) | £857.53 |
| Capital and Reserves | |
| Unrestricted Net Assets | 230.14 |
| Profit for the year | 627.39 |
| Total Capital and Reserves | £857.53 |
Accrual Basis Tuesday, 13 September 2022 08:09 am GMT+01:00
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