## **Trustees’ Annual Report for the period**
## **From 1 January 2023 to 31 December 2023**
## **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|**Break Off Labs was not very active this**
**year again, with only de minimis funding**
**received 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 was not very active in**
**2023 due to the continued overhang of**
**COVID and time resource constraints of**
**the trustees.**|
|---|---|---|
## **Financial Review**
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**The Charity held the equivalent of**
**£1,138 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 resource constraints.**|
|Amount of reserves held|Para 1.22|**Equivalent of £1,138 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**
|**clarations**||
|---|---|
|**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**||
||Hamish Magoffin|
||
Chair|
||8 September 2023|
**Break Off Labs Charity Number 1187213 Annual Accounts Year End 31 December 2023**
## Break Off Labs
## Profit and Loss
January - December 2023
||TOTAL|
|---|---|
|Income||
|Gifts In Kind|268.83|
|Miscellaneous Income|0.25|
|**Total Income**|**£269.08**|
|GROSS PROFIT|**£269.08**|
|Expenses|**£0.31**|
|NET OPERATING INCOME|**£268.77**|
|Other Expenses|**£ -1.56**|
|NET OTHER INCOME|**£1.56**|
|NET INCOME|**£270.33**|
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**Accrual Basis Sunday 8 September 2024 12:44 am GMT+01:00**
## Break Off Labs
## Balance Sheet
## As of December 31, 2023
||TOTAL|
|---|---|
|Fixed Asset||
|**Total Fixed Asset**||
|Cash at bank and in hand|**£1,138.04**|
|Debtors|**£0.00**|
|Current Assets||
|Undeposited Funds|0.00|
|**Total Current Assets**|**£0.00**|
|NET CURRENT ASSETS|**£1,138.04**|
|Creditors: amounts falling due within one year|**£0.00**|
|NET CURRENT ASSETS (LIABILITIES)|**£1,138.04**|
|TOTAL ASSETS LESS CURRENT LIABILITIES|**£1,138.04**|
|TOTAL NET ASSETS (LIABILITIES)|**£1,138.04**|
|Capital and Reserves||
|Unrestricted Net Assets|867.71|
|Profit for the year|270.33|
|**Total Capital and Reserves**|**£1,138.04**|
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**Accrual Basis Sunday 8 September 2024 01:27 am GMT+01:00**