Breyer Foundation Limited Charity Accounts

BREYER FOUNDATION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07473672

CHARITY REGISTRATION NUMBER: 1142781

Breyer Foundation Limited

Company Limited by Guarantee

Unaudited Financial Statements

31 May 2020

Breyer Foundation Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 May 2020

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	3

Statement of financial position	4

Statement of cash flows	5

Notes to the financial statements	6

Breyer Foundation Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 May 2020

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2020 .

Reference and administrative details

Registered charity name	Breyer Foundation Limited

Charity registration number	1142781

Company registration number	07473672

Principal office and registered	Silverclad House Faringdon Avenue
office	Harold Hill
	Romford
	Essex
	RM3 8ST

The trustees

	Mr Timothy Lacey	(Appointed 5 October 2020)
	Mrs Alexandra Vella
	Mr Timothy Breyer
	Mrs Anne Dyer	(Retired 10 July 2020)
	Mr Neil Fisher

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7-12 Tavistock Square
	London WC1H 9BQ

Structure, governance and management

The company is a registered charity, number 114278.

The charity is run by a board of trustee and constituted as a company limited by guarantee. The governing document is the company's articles of association.

New trustee appointments may be made by ordinary resolution.

Mr Timothy Lacey was appointed as a trustee on 5 October 2020.

Objectives and activities

The Foundation provides funding to organisations or charities with suitable aims or projects that meet the Foundations objects. Bids for funding must be supported by completion of an application form. We monitor outcomes through a report at an agreed interval after completion of a project and visits by our trustees.

We have four principle objectives:

- Promoting the education of the long term unemployed by for example grants, short term courses or apprenticeships.

- Promoting the advancement of citizenship or the development of the community by developing capacity and skills of socially disadvantaged communities.

- The relief of unemployment for the benefit of the public.

- Urban or rural regeneration in areas of social and economic deprivation.

The charity's activities to meet its objectives include delivering community based initiatives to Women, BAME, Over 50's, Young People and those far from the labour market.

In carrying out the activities of the charity the trustees have had regard to the guidance issued by the Charity Commission on public benefit

Achievements and performance

During the year the charity ran one event, the annual golf day, which raised in total a profit of £4,450.

We did very little supported grants in this period, we supported a community team building and inclusion event for a local Guide group and we supported a community centre in Lambeth under the Breyer Foundations Place of Change programme, for teaching and digital inclusion. Due to the pandemic this grant was adapted to allow for a community food bank instead.

We aimed to do a boxing event for additional funding but the event was cancelled due to the pandemic and amounts paid were given to the foundation as a donation instead.

Financial review

During the year, the charity generated total income of £14,085 (2019: £22,163) and made donations and sponsorships totalling £7,000 (2019: £10,740). The charity's net expenditure was £267 (2019: £2,580) for the year. At 31 May 2020 the charity had unrestricted reserves of £28,704. We consider the performance has been satisfactory during the year and that the Foundation has a good level of reserves to continue with its work for the forthcoming year.

The charity's reserves policy is to hold sufficient reserves, generally round £10,000, to meet any short term expenses that may become due.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 27 May 2021 and signed on behalf of the board of trustees by:

Mr Neil Fisher

Trustee

Breyer Foundation Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 May 2020

	2020		2019
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	2,300	2,300	2,350
Charitable activities	6	11,785	11,785	19,813
		--------	--------	--------
Total income		14,085	14,085	22,163
		--------	--------	--------

Expenditure

Expenditure on raising funds:

	Costs of raising donations and legacies	7	7,335	7,335	13,926
Expenditure on charitable activities		8,9	7,017	7,017	10,817
			--------	--------	--------
Total expenditure			14,352	14,352	24,743
			--------	--------	--------

	--------	--------	--------
Net expenditure and net movement in funds	( 267)	( 267)	( 2,580)
	--------	--------	--------

Reconciliation of funds

Total funds brought forward	28,704	28,704	31,284
	--------	--------	--------
Total funds carried forward	28,437	28,437	28,704
	--------	--------	--------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Breyer Foundation Limited

Company Limited by Guarantee

Statement of Financial Position

31 May 2020

	2020		2019
Note	£	£	£

Current assets

Cash at bank and in hand	28,437		28,704
	--------		--------
Net current assets		28,437	28,704
		--------	--------
Total assets less current liabilities		28,437	28,704
		--------	--------

Funds of the charity

Unrestricted funds		28,437	28,704
		--------	--------
Total charity funds	11	28,437	28,704
		--------	--------

For the year ending 31 May 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 27 May 2021 , and are signed on behalf of the board by:

Mr Neil Fisher

Trustee

Breyer Foundation Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 May 2020

	2020	2019
	£	£

Cash flows from operating activities

Net expenditure	(267)	(2,580)
	----	-------
Cash generated from operations	( 267)	( 2,580)
	----	-------
Net cash used in operating activities	( 267)	( 2,580)
	----	-------

Net decrease in cash and cash equivalents	( 267)	( 2,580)
Cash and cash equivalents at beginning of year	28,704	31,284
	--------	--------
Cash and cash equivalents at end of year	28,437	28,704
	--------	--------

Breyer Foundation Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 May 2020

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Silverclad House Faringdon Avenue, Harold Hill, Romford, Essex, RM3 8ST.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

There are no significant judgements and accounting estimates or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities in the financial statements.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Limited by guarantee

The company is limited by guarantee. The liability of members is limited by the company's Memorandum of Association to a sum not exceeding £10 per member.

5. Donations and legacies

Unrestricted Funds	Total Funds 2020	Unrestricted Funds	Total Funds 2019
£	£	£	£

Other donations and legacies

Donations and sponsorships income	2,300	2,300	2,350	2,350
	-------	-------	-------	-------

6. Charitable activities

	Unrestricted Funds	Total Funds 2020	Unrestricted Funds	Total Funds 2019
	£	£	£	£
Fundraising events	11,785	11,785	19,813	19,813
	--------	--------	--------	--------

7. Costs of raising donations and legacies

	Unrestricted Funds	Total Funds 2020	Unrestricted Funds	Total Funds 2019
	£	£	£	£
Fundraising expenditure	7,335	7,335	13,926	13,926
	-------	-------	--------	--------

8. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2020	Unrestricted Funds	Total Funds 2019
	£	£	£	£
Grants and donations	7,000	7,000	10,740	10,740
Support costs	17	17	77	77
	-------	-------	--------	--------
	7,017	7,017	10,817	10,817
	-------	-------	--------	--------

9. Expenditure on charitable activities by activity type

	Grant funding of activities	Support costs	Total funds 2020	Total fund 2019
	£	£	£	£
Grants and donations	7,000	–	7,000	10,740
Governance costs	–	17	17	77
	-------	----	-------	--------
	7,000	17	7,017	10,817
	-------	----	-------	--------

10. Trustee remuneration and expenses

No remuneration was paid to the trustees in the current and prior year.

11. Analysis of charitable funds

Unrestricted funds

	At 1 June 2019	Income	Expenditure	At 31 May 2020
	£	£	£	£
General funds	28,704	14,085	(14,352)	28,437
	--------	--------	--------	--------

	At 1 June 2018	Income	Expenditure	At 31 May 2019
	£	£	£	£
General funds	31,284	22,163	(24,743)	28,704
	--------	--------	--------	--------

12. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2020
	£	£
Current assets	28,437	28,437
	--------	--------

	Unrestricted Funds	Total Funds 2019
	£	£
Current assets	28,704	28,704
	--------	--------

13. Analysis of changes in net debt

	At 1 Jun 2019	Cash flows	At 31 May 2020
	£	£	£
Cash at bank and in hand	28,704	(267)	28,437
	--------	----	--------