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2025-08-31-accounts

Charity registration number: 1209849

MK Breakers Community Foundation

Annual Report and Financial Statements

for the period from 3 September 2024 to 31 August 2025

MK Breakers Community Foundation

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 7
Statement of Trustees' Responsibilities 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 19
Detailed Statement of Financial Activities 20 to 21

MK Breakers Community Foundation

Reference and Administrative Details

Chairman Mr P Taylor Trustees Mr P Taylor Mr J Delgado Mr B Shannon Mr G T Taylor Principal Office Bletchley Leisure Centre Princes Way Bletchley Milton Keynes Buckinghamshire MK2 2HQ Charity Registration Number 1209849

Page 1

MK Breakers Community Foundation

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the period ended 31 August 2025.

Trustees

Mr P Taylor

Mr J Delgado

Mr B Shannon

Mr G T Taylor

Chair's Introduction

The trustees are pleased to present the first full Trustees’ Annual Report for MK Breakers Community Foundation. Since our registration in September 2024, the charity has focused on establishing high quality programmes that support the physical, social, and emotional development of children and young people through basketball.

This report reflects encouraging early progress, strong community engagement, and the foundations laid for sustainable growth. As with all young charities, this year has prioritised building structures, governance, and programme delivery capacity.

Objectives and activities

Objects and aims

The charity's objects are to advance physical education of children and young people aged 6–18 by providing basketball coaching, training, and education in related subjects.

Objectives, strategies and activities

The main activities of the charity are:

The charity operates primarily across Milton Keynes, Buckinghamshire, and Central Bedfordshire.

Fundraising disclosures

MK Breakers Community Foundation benefits from the support of a professional fundraiser. All fundraising activity is conducted by staff, trustees, or volunteers. The charity complies with the Fundraising Regulator’s Code of Fundraising Practice. We received no complaints about fundraising during the reporting period.

Page 2

MK Breakers Community Foundation

Trustees' Report

Public benefit

In shaping our aims and activities, the trustees have had regard to the Charity Commission’s guidance on public benefit. The Foundation ensures accessibility through:

This commitment aligns with what we consider good practice, where accessibility and public engagement are central to delivering benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of volunteers

The charity utilises the support of volunteers to assist in coaching, officiating, administration and event delivery. Their contribution strengthens community connections, enhances development opportunities for young members and keeps running costs down.

Page 3

MK Breakers Community Foundation

Trustees' Report

Achievements and performance

As a newly registered charity, the focus this year has been on establishing stable and high quality delivery. Key achievements include:

Impact Highlights

For the next reporting period, we intend to build on this foundation by expanding reach, strengthening partnerships, and establishing more detailed performance measures.

Financial review

As a newly established charity, financial activity has been relatively modest but aligned to setup and programme delivery. Income is derived from:

Expenditure reflects delivery costs, equipment, facilities usage, coaching, and governance. A consolidated Statement of Financial Activities can be found at Enclosure 1 to this report. A Consolidated Balance Sheet can be found at Enclosure 2. With notes on the Account found at Enclosure 3.

Page 4

MK Breakers Community Foundation

Trustees' Report

Policy on reserves

The trustees aim to build a prudent reserves level over the coming years to ensure:

As a new charity, reserves are expected to remain limited during early growth. The trustees will review the reserves policy annually as income stabilises.

Plans for future periods

Aims and key objectives for future periods

Reflecting good practice in the Commission’s example report, where future planning is clearly outlined, the Foundation’s priorities for the next period include:

These plans aim to secure long-term sustainability and enhance the scale and quality of our programmes.

Going concern

The trustees consider the charity to be a going concern, supported by strong demand, partnership opportunities, and responsible financial management.

Structure, governance and management

Nature of governing document

The charity is a Charitable Incorporated Organisation (Foundation model), governed by a written constitution adopted on 3 September 2024.

A board of trustees provides strategic leadership, ensures regulatory compliance, and oversees risk, finance, and safeguarding.

Recruitment and appointment of trustees

Trustees are appointed in accordance with the constitution. As we develop our trustees’ induction we are seeking to formalise and enhance training including:

Page 5

MK Breakers Community Foundation

Trustees' Report

Related party disclosure

The charity confirms no trustee received any remuneration, benefits, or payments for their role. Trustees did not receive expense reimbursements during the year. No related party transactions occurred.

Major risks and management of those risks

Financial

Mitigated through budgeting, reserves policy, internal controls, and dual authorisation banking.

Safeguarding & Welfare

Managed through mandatory safeguarding training, DBS checks, reporting procedures, and supervision ratios.

Operational & Volunteer Capacity

Addressed through structured volunteer recruitment, training, and succession planning.

Health & Safety

Managed via risk assessments, facility compliance checks, first aid coverage, and incident reporting.

Data Protection

Controlled through GDPR compliant data handling, secure storage, and access controls.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Page 6

MK Breakers Community Foundation

Trustees' Report

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Policies

The charity maintains and regularly reviews the following policies:

Serious incident reporting statement

The trustees confirm that no serious incidents required reporting to the Charity Commission during the reporting period.

The annual report was approved by the trustees of the charity on 10 April 2026 and signed on its behalf by:

......................................... Mr P Taylor Chairman and Trustee

Page 7

MK Breakers Community Foundation

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 10 April 2026 and signed on its behalf by:

......................................... Mr P Taylor Chairman and Trustee

Page 8

MK Breakers Community Foundation

Independent Examiner's Report to the trustees of MK Breakers Community Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 10 to 19.

Respective responsibilities of trustees and examiner

As the charity’s trustees of MK Breakers Community Foundation 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 MK Breakers Community Foundation'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

Since MK Breakers Community Foundation's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material 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 MK Breakers Community Foundation as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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.

...................................... Michael Emery ACA ICAEW

22 St. John Street Newport Pagnell Buckinghamshire MK16 8HJ

10 April 2026

Page 9

MK Breakers Community Foundation

Statement of Financial Activities for the Period from 3 September 2024 to 31 August 2025

Note
Income and Endowments from:
Charitable activities
Investment income
3
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds
Total funds carried forward
10		 Unrestricted
funds
£
581,952
26
581,978
(552,298)
(552,298)
29,680
29,680		 Restricted
funds
£
195,998
-
195,998
(80,543)
(80,543)
115,455
115,455		 Total
31 August
2025
£
777,950
26
777,976
(632,841)
(632,841)
145,135
145,135

All of the charity's activities derive from continuing operations during the above period.

Page 10

MK Breakers Community Foundation

(Registration number: 1209849) Balance Sheet as at 31 August 2025

Note
Current assets
Debtors
8
Cash at bank and in hand
Creditors: Amounts falling due within one year
9
Net assets
Funds of the charity:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
10		 31 August
2025
£
96,051
92,932
188,983
(43,848)
145,135
115,455
29,680
145,135

The financial statements on pages 10 to 19 were approved by the trustees, and authorised for issue on 10 April 2026 and signed on their behalf by:

......................................... Mr P Taylor Chairman and Trustee

Page 11

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

MK Breakers Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 12

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 13

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 14

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 15

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from charitable activities

Coaching
3
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits		 Unrestricted
funds
General
£
195,998		 Restricted
funds
£
581,952
Unrestricted
funds
General
£
26		 Total
31 August
2025
£
777,950
Total
31 August
2025
£
26

Page 16

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

4 Expenditure on charitable activities

Note
Coaching costs and consumables
Coaching and recreational activities		 Unrestricted
funds
General
£
552,298
Activity
undertaken
directly
£
262,763		 Restricted
funds
£
80,543
Activity
support costs
£
289,535		 Total
31 August
2025
£
632,841
Total
31 August
2025
£
552,298

£552,298 of the above expenditure was attributable to unrestricted funds and £80,543 to restricted funds.

Page 17

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

5 Analysis of support costs

Governance and support costs per fund

Wages and salaries
Staff NIC
Staff pensions (Defined contribution)
Rent
Office expenses
Computer software and maintenance costs
Fundraising costs
Trade subscriptions
Sundry expenses
Cleaning
Motor expenses
Car hire and leasing expenses (Operating leases)
Travel and subsistence
Advertising
Accountancy fees
Consultancy fees
Legal and professional fees
Bank charges		 Unrestricted
funds
General
£
166,795
10,160
604
1,426
1,926
3,117
18,077
2,216
120
2,720
1,418
2,676
15,471
14,412
2,055
38,450
7,563
329
289,535		 Total
31 August
2025
£
166,795
10,160
604
1,426
1,926
3,117
18,077
2,216
120
2,720
1,418
2,676
15,471
14,412
2,055
38,450
7,563
329
289,535

6 Trustees remuneration and expenses

During the period the charity made the following transactions with trustees:

Mr P Taylor

Mr P Taylor received remuneration of £7,000 during the period.

No trustees have received any other benefits from the charity during the year.

7 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 18

MK Breakers Community Foundation

Notes to the Financial Statements for the Period from 3 September 2024 to 31 August 2025

8 Debtors

Prepayments
Other debtors		 31 August
2025
£
12,684
83,367
96,051

9 Creditors: amounts falling due within one year

9
Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals		 31 August
2025
£
1,981
41,267
600
43,848

10 Funds

Unrestricted funds
General
Restricted funds
Total funds		 Incoming
resources
£
581,978
195,998
777,976		 Resources
expended
£
(552,298)
(80,543)
(632,841)		 Balance at 31
August 2025
£
29,680
115,455
145,135

11 Analysis of net assets between funds

Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
73,528
(43,848)
29,680		 Restricted
funds
£
115,455
-
115,455		 Total funds
£
188,983
(43,848)
145,135

Page 19

MK Breakers Community Foundation

Detailed Statement of Financial Activities for the Period from 3 September 2024 to 31 August 2025

Income and Endowments from:
Charitable activities (analysed below)
Investment income (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net income
Reconciliation of funds
Total funds carried forward		 Total
3 September
2024 to 31
August 2025
£
777,950
26
777,976
632,841
632,841
145,135
145,135

Page 20

MK Breakers Community Foundation

Detailed Statement of Financial Activities for the Period from 3 September 2024 to 31 August 2025

Charitable activities
Coaching income
Coaching income
Grants receivable
Investment income
Bank interest receivable
Charitable activities
Coaching costs
Coaching costs
Purchases
Kits and equipment costs
Referees
Court hire
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined contribution) - pension scheme 1
Rent
Office expenses
Computer software and maintenance costs
Fundraising costs
Trade subscriptions
Sundry expenses
Cleaning
Motor expenses
Car hire and leasing expenses (Operating leases)
Travel and subsistence
Advertising
Accountancy fees
Consultancy fees
Legal and professional fees
Bank charges		 Total
3 September
2024 to 31
August 2025
£
101,275
581,952
94,723
777,950
26
26
77,528
36,774
3,015
23,475
8,164
194,350
166,796
10,160
604
1,426
1,926
3,116
18,077
2,215
120
2,720
1,417
2,677
15,471
14,413
2,055
38,450
7,563
329
632,841

Page 21