## **Break the Chains CIO** (Registered charity, number 1203197) **Financial statements for the year ended 31 December 2023** |**Page**|**Contents**| |---|---| |2 - 4|Trustees’ annual report| |5|Independent examiner’s report| |6|Receipts & payments account| |7|Statement of assets & liabilities| |8|Notes to the accounts| ## **Break the Chains CIO Trustees’ annual report for the year ended 31 December 2023** **Full name** Break the Chains CIO **Organisation type** Charitable incorporated organisation **Registered charity number** 1203197 **Principal address** Woven St Margaret's Office, Aspley Lane, Nottingham, NG8 5GE ## **Trustees** Rev Colin Bourne, from 23 May 2023 Rev Emma Mallord, from 29 November 2023 Roger Woodall, from 23 May 2023 Oluwaseun Babatunde Taiwo, from 23 May 2023 Jonathan Portwood, from 23 May 2023 ## **Independent examiner** John O’Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL ## **Governance and management** The charity is operated under the rules of its constitution, CIO - Foundation adopted 23 May 2023. The former Break the Chains Community Interest Company (CIC), which was incorporated on 15 November 2019 (Company Number 12317509), was closed on 23 May 2023, on which date the conversion of the Company into a Charitable Incorporated Organisation (CIO) (Charity Number 1203197) took place. These Accounts, for the 12-month period ended on 31[st] December 2023, therefore cover the final period of the CIC’s operations and the opening period of the CIO’s. The founding Directors of Break the Chains CIC, Paul and Laura Ward, continue to serve the purposes of the Charity in their new roles as Workers for the CIO. The other, non-executive, Directors of the CIC now serve the purposes of the Charity in their new roles as Trustees of the CIO, and they have been pleased to welcome the Rev’d Emma Mallord as an additional Trustee with effect from 29 November 2023. ## **Objectives and activities** To advance the Christian religion for the benefit of the public in accordance with the statements of faith appearing in the schedule, by: a. The production and distribution of online media and literature on Christianity to enlighten others about the Christian religion; b. The holding of evangelistic meetings and training to educate and enlighten the public about the Christian religion; and c. The provision of pastoral care to members of the public through prayers and religious counselling. 2 ## **Break the Chains CIO** ## **Summary of the main activities undertaken for the public benefit** The Charity Commission’s Website confirms the following about the CIO: ## What the charity does: - Education/training - The Advancement of Health or Saving of Lives - Disability - The Prevention or Relief of Poverty - Religious Activities ## Who the charity helps: - People with Disabilities - Other Defined Groups - The General Public/mankind ## How the charity helps: - Provides Services - Provides Advocacy/advice/information ## Where the charity operates: - Dudley, Nottingham City, Nottinghamshire, Worcestershire ## **Public benefit statement** The Charity is aware of its Public Benefit requirement, and it is confident that it meets this requirement by the provision of the activities, information and services which it offers. We offer assistance and support to all, irrespective of their race, religion or background. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. ## **Summary of the main achievements during the period** The former Directors, and the Trustees, wish to record their gratitude for the invaluable expert help and assistance which they obtained from Peter Korn (trading as Interface Legal Advisory Service) during the conversion process. During 2023 the Charity continued to work with Woven St Margaret’s Church, Aspley, Nottingham, Woven Community Café and Woven St Martha’s, Broxtowe, in supporting people in varying degrees of personal and household strain and crisis, and in offering pastoral support to those requesting this. The Mission Consultancy work with a church in the Worcester Diocese continued, and the recipient church valued this strategic input. Another church in the diocese of Worcester needed support and was taken on in June 2023. Due to requests the charity took on a number of people who were Spiritually Accompanied during the year. The Charity keeps its donors and supporters involved and informed via emailed newsletters, and via WhatsApp group messages and phone calls. 3 ## **Break the Chains CIO** The Board of Trustees meets at least termly, and the Founders of Break the Chains are invited to be present for at least part of each meeting to report on (a) the progress being made in achieving the Charity’s objects and (b) any new initiatives which they wish the Trustees to consider and/or approve. ## **Financial review** The Trustees consider that the Charity’s financial position at 31 December 2023 was satisfactory and sustainable, and they will be looking to increase the donor base, encourage voluntary giving using the Government’s Gift Aid Scheme, and looking to partner with grant making bodies and with entities who can provide funding, including via suitable purchaser/provider arrangements, in furtherance of the Charity’s objects. ## **The charity’s policy on reserves** The Trustees are working to build and maintain free financial reserves equivalent to three months' average expenditure. ## **Financial risks** The Trustees consider that there are currently no financial risks to the Charity which would seriously compromise its operations, and that mitigating steps, including any necessary appeal to our donor base, would be a sufficient response to any shortterm financial challenges. Signed on behalf of the charity’s trustees: Signed Date __________ Rev Colin Bourne, Trustee 4 ## **Independent examiner’s report to the trustees of Break the Chains CIO for the year ended 31 December 2023** I report to the trustees on my examination of the accounts of Break the Chains CIO (the charity) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed _________________________ Date ______________________ John O’Brien MSc, FCCA, FCIE Employee of Community Accounting Plus 5 ## **Break the Chains CIO Receipts & payments account for the year ended 31 December 2023** |_2022_
Total
**Unrestricted**
Funds
**Funds**
£
**Note**
**£**
**Receipts**
7205
Grants & donations
**2**
8523
200
Fundraising
220
6951
Services
6345
3
Bank interest
36
1496
Sundry receipts
-
15855
**Total receipts**
**15124**
**Payments**
149
Bank charges
158
-
Client hospitality
22
11
Helping people in need
-
615
Insurance
584
782
Legal & professional fees
2215
889
Loan repayment
-
78
Members fees
-
-
Networking
7
194
Office repairs & maintenance
-
450
Payroll fees
370
166
Safeguarding
36
138
Staff travel & expenses
193
175
Stationery, printing & office supplies
114
209
Telephone
209
11820
Wages, tax & NI
10747
523
Website & IT
277
16199
**Total payments**
**14932**
(344)
**Net receipts/(payments)**
192
368
Cash funds at start of this period
24
24
**Cash funds at end of this period**
**216**|**Restricted**
**Funds**
**£**
500
-
-
-
-
**500**
-
-
-
250
-
-
-
-
-
-
-
-
-
-
-
250
**500**
-
-
**-**|**_2023_**
**Total**
**Funds**
**£**
9023
220
6345
36
-| |---|---|---| |||**15624**| |||158
22
-
834
2215
-
-
7
-
370
36
193
114
209
10747
527| |||**15432**| |||192
24| |||**216**| 6 ## **Break the Chains CIO Statement of assets and liabilities at 31 December 2023** |_2022_
£
**Cash assets**
24
Bank accounts
24
**Other monetary assets**
-
Debtors - Services
-
**Assets retained for the charity’s own use**
General equipment.
**Liabilities**
(582)
Creditors - Independent examination fee
(582)|**_2023_**
**£**
216| |---|---| ||**216**| ||25| ||**25**| ||(648)| ||**(648)**| These financial statements are accepted on behalf of the charity by: 24[th] September 2024 Signed ___________________________________ Dated ___________ Jonathan Portwood, Trustee 2 7 ## **Break the Chains CIO Notes to the accounts for the year ended 31 December 2023** ## **1. Receipts & payments accounts** Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand. ## **2. Grants & donations** |The Gray Trust
Central England Co-op
Individual donations
**Funds analysis**
**Restricted funds**
Organisational costs
**Unrestricted funds**
General fund|**Unrestricted**
**Restricted**
**£**
**£**
500
-
-
500
8023
-
**8523**
**500**
**Opening**
**Receipts (Payments)**
**balance**
**£**
**£**
**£**
-
500
(500)
**-**
**500**
**(500)**
24
15124
(14932)
**24**
**15124**
**(14932)**|**Unrestricted**
**Restricted**
**£**
**£**
500
-
-
500
8023
-
**8523**
**500**
**Opening**
**Receipts (Payments)**
**balance**
**£**
**£**
**£**
-
500
(500)
**-**
**500**
**(500)**
24
15124
(14932)
**24**
**15124**
**(14932)**||**Total**
**£**
500
500
8023
**9023**
**Closing**
**balance**
**£**
-| |---|---|---|---|---| |||||| |||||| |||**(500)**||**-**| |||(14932)||216| |||**(14932)**||**216**| ## **3. Funds analysis** ## **4. Trustees’ remuneration** Trustees received no expenses, remuneration or benefits in this period. ## **5. Related party transactions** There were no related party transactions in this period. ## **6. Glossary of terms** **Creditors:** These are amounts owed by the charity, but not paid during the accounting period. **Debtors:** These are amounts owed to the charity, but not received in the accounting period. **Restricted funds:** These are funds given to the charity, subject to specific restrictions set by the donor, but still within the general objects of the charity. 8