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2024-03-31-accounts

Charity Registration No. 1050596

Company Registration No. 03114996 (England and Wales)

THE BRIDGE (EAST MIDLANDS)

ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

THE ROWLEYS PARTNERSHIP LTD CHARNWOOD HOUSE HARCOURT WAY MERIDIAN BUSINESS PARK LEICESTER LE19 1WP

THE BRIDGE (EAST MIDLANDS)

CONTENTS

Page
Report of the Board of Trustees 2 – 11
Independent Auditor’s Report
12 – 15
Statement of Financial Activities 16
Balance Sheet 17
Statement of Cash flows 18
Notes to the Financial Statements 19 – 32

1

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Board of Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report together with the audited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, Companies Act 2006, Charities Act 2011 and 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 published in October 2019.

Reference and Administrative information

Charity name: Operating name: Charity registration number: Company registration number:

The Bridge (East Midlands) The Bridge 1050596 03114996

Board of Trustees

Jeanette Webb – Chair Richard White Ashiedu Joel Steven Ablett – Resigned 27/09/2023 David Sims Marc Rowley – Resigned 07/12/2023 Dhruv Pandya – Resigned 28/04/2023 Bhavnaben Patel – Appointed 31/05/2023 Gary Beharrell – Apointed 27/09/2023 Joseph Warwick – Appointed 27/09/2023 Halinka Hepworth – Appointed 31/01/2024

Company Secretary

Nash Chhatralia – Appointed 07/08/2023 Susan Langley – Resigned 06/10/2023

Chief Officer

Nash Chhatralia – Appointed 07/08/2023 Susan Langley – Resigned 06/10/2023

Registered Office and Operational Address

John Storer House, Ward’s End, Loughborough, Leicestershire, LE11 3HA

2

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Statutory Auditor

The Rowley’s Partnership Limited, Chartered Accountants, Charnwood House, Harcourt Way, Meridian Business Park, Leicester, LE19 1WP

Bankers

CAF Bank Limited, Kings Hill, West Malling, Kent, ME19 4TA

Structure, Governance and Management

Governing document

The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association, which sets out the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment and appointment of Trustees

The Directors of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as members of the Board of Trustees. The charity may, by ordinary resolution, appoint a person who is willing to act to be a Trustee. No person other than a Trustee retiring may be appointed a Trustee at any general meeting unless:

All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty eight clear days’ notice of any resolution to be put to the meeting to appoint a Trustee other than a Trustee who is to retire by rotation.

The appointment of a Trustee, whether by the charity in general meeting or by the other Trustees, must not cause the number of Trustees to exceed any number fixed as the maximum number of Trustees.

The organisation recognises that recruitment of new Trustees by way of personal recommendation is flawed. When looking to recruit new Trustees, the organisation advertises externally and invites expressions of interest from individuals. Information packs are then dispatched to individuals along with an application form. Individuals who return a completed application are invited to an interview with the Chief Officer and an existing Trustee (usually the Chair). The organisation is keen to recruit individuals with specific areas of interest or expertise.

3

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Trustee Induction and Training

The organisation provides all new Trustees with an information pack containing details of the rights and responsibilities of Charity Trustees – this includes information published by the Charity Commission. All new Trustees are invited to attend an induction evening facilitated by an experienced Trustee. Training is ongoing and based around Trustee Meetings with an emphasis on using the individual expertise of Trustees in specific areas of work.

Risk Management

The Trustees conduct their own review of the risks to which the charity is exposed and establish systems to mitigate those risks. These systems are periodically reviewed to ensure they still meet the needs of the charity both now and for the future. The organisation has developed a robust Risk Register which is reviewed by the Board of Trustees bi-annually.

Organisational Structure

The charity provides a number of services, early intervention and homelessness prevention services, including a Triage Service, Specialist Housing Advice and Tenancy Relations Service, Housing Related Support Services, the talk²sort Mediation Service, a Single Access Point for 16- & 17-year-olds, a Rough Sleeper Outreach and Supported Lettings Programme and Homeless Offenders accommodation advice service.

The charity has a central office providing Customer Services including Welfare Provision (Food and Fuel assistance) and financial and administrative support for the overall operation of the charity. The Trustees are responsible for developing overall policy, aided by the Chief Officer.

Volunteers are welcomed in all our work and are given training and support to enable them to work alongside our paid staff.

Objectives and Activities

The objectives, for which the charity was established, as defined by the Memorandum of Association on 29[th] February 2012 and amended on 23[rd] May 2018 are to promote charitable purposes only; more specifically for the relief and rehabilitation of homeless persons in need in the East Midlands and in particular by the provision of accommodation and associated facilities calculated to alleviate their need, to promote any other charitable purpose for the benefit of homeless persons and those at risk of homelessness in the East Midlands.

Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. Public Benefit is demonstrated more specifically in the following Performance and Achievements sections which highlight specific client work from each of the services within the organisation.

A Message from the Chair

The funding for charities in an ever-changing world is challenging as we compete for funding with so many others and housing needs escalate exponentially.

The fact that our services are still needed after so many years and indeed more so, is indictment of the lack of funding to ensure that social housing is available for those on low income and to raise people from poverty. Our charity was born from the need to do more for our community to prevent homelessness. It has grown and expanded its services over the years evidencing the continuing need for charities such as ours to support our fellow citizens.

The last two years have been particularly onerous for both the Board of Trustees and our staff as recruitment was challenging in a heated recruitment market and funds limited. This made the work of our staff demanding in the extreme, but they all rose to the occasion and delivered excellent services to our clients. Whilst our CEO left

4

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

part way through the year, we were very fortunate in achieving the appointment of new CEO, Head of Programmes & Services (HoPS) and a Finance Manager who quickly got to grips with the tasks in hand and operate as a highly effective and efficient Senior Management Team.

As an organisation we were facing a reported and forecasted significant deficit in terms of our finances. However, with the hard work of the new Finance Manager supported by the Finance Sub Committee including the CEO and Head of Programmes and Services acting together to improve reporting, control and forecasting ensured that we were able to manage our finances and bring about a small underspend. Financial controls were introduced, and new systems are being introduced we therefore feel confident that we have the right people and systems in place to support the organisation going forward.

We are indebted to several organisations who have supported us working in partnership including Charnwood Borough Council, John Storer House, North-West Leicestershire District Council, Hinckley & Rugby, Melton Mowbray and Market Harborough Building Societies and GTS Security Services.

The services we provide have never been more vital as families struggle to manage day to day living, debt, homelessness, and food poverty.

Applying for funding, raising funds and winning grant funding for our work is vital. Several individuals have made significant contributions to support the work that we do in the community. We have been fortunate to have been awarded funding by a number of funders including The National Lottery, Charnwood Borough Council, North West Leicester and Leicestershire District Councils, BBC Children in Need, BHS Funding, Masonic Charitable foundation, Dept for Levelling Up Housing & Communities through NWLDC, the Ministry of Justice (NACRO Contract supporting prison and ex-offenders), Henry Smith Foundation, Hinckley & Rugby Building Society, Market Harborough Building Society and Melton Building Society.

Our Management Team and staff continue to work to deliver current services whilst also proactively seeking opportunities that will ensure that we remain strategically relevant to meet the changing needs of our communities and clients.

Growth can only be achieved by hard working and dedicated staff, and I again give them mine and The Board of Trustees heartfelt thanks for all the work that they, the Strategic Management Team and the CEO have done.

My thanks also go to our dedicated and hard-working Trustees who do so much more than just turning up at a bimonthly meeting, they get involved and help to support the organisation in so many ways. Particular thanks go to our Vice Chair David Sims who steadfastly has supported me in the Chair role in what has been a very challenging time.

Unfortunately, we have lost some of our very dedicated and hard-working Trustees! My special thanks go to Steve Ablett who is no longer on the Board who worked to seek funding opportunities for The Bridge to help with providing finance for these much-needed services. I would like to extend a very warm welcome to Halinka Hepworth who has joined the Board.

Organisation like ours cannot achieve what we do without the help and support of our volunteers and the partner organisations, BNI Tigers, members of the business community, schools, Loughborough University including the Students Union and the public for their generous donations so lastly, I would like to thank them all for their help and continued support.

Jay Webb, Chair of the Board of Trustees

5

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Service Aims and Outcomes

Young People’s Services (Single Access Point (SAP), and talk²sort)

Aims (SAP):

Aims (talk²sort):

Support Services (Getting Help In Neighbourhoods, Your Store officer)

Aims (GHIN):

Performance:

Aims (Your Store):

Performance:

6

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Street Homelessness and Offenders Services (Dynamic Framework and Rough Sleeper Ini�a�ve)

Aims (Dynamic Framework):

Performance:

Aims (Rough Sleeper Initative):

Performance:

Housing Advice, Tenancy Relations Services

Aims:

Performance:

Triage

Aims:

7

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Performance:

Organisational Achievements

Our Vision is... "Resilient, compassionate communities where individuals thrive in safe and secure homes".

The Bridge (East Midlands) has a 4-year organisational strategy (2020-2024). This strategy serves as the framework for all that we achieve. During the 2023 - 2024 financial year, the Senior Management Team at the Bridge has reviewed our strategy to ensure that as an organisation we remain relevant, agile and responsive to current issues, such as the impact of the pandemic and the rising cost of living.

The strategy aligns with The Bridge (East Midlands) vision, mission and core values and is focused upon the future sustainability of services that provide advice and support for preventing and overcoming homelessness, as well as securing and maintaining tenancies, promoting personal wellbeing and providing a number of projects specifically for young people.

At The Bridge (East Midlands), we are proud of the difference we make, with 94% of respondents who have accessed support from The Bridge stating that their emotional and mental health has improved. 94% of people also stated that they felt more independent after the support they received and 100% said that they are more able to make their own choices and to solve their own problems. Overall, 100% of people who responded to the exit survey fed back that they were happy with the service they had received.

We have a skilled and committed team who are dedicated to shaping and providing a number of vital services that are responsive to the needs of the local community. The local community have supported service provision by fundraising and campaigning throughout the year. During challenging times, we have also looked towards innovative income generation solutions and long term business/corporate partnerships for the benefit of the community. Working in partnership with key agencies within our locality is another key component to providing the best services that we can, and we have continued to develop existing partnerships and to initiate new ones. We adopt a strengths-based approach and have continued to develop targeted solutions for continual improvement.

Plans for Future Periods

The Bridge’s vision of “resilient, compassionate communities, where individuals thrive in safe and secure homes” has provided the foundations for the development of the charity’s Four-Year Strategy for the period 2020-2024. The strategic objectives outlined within the strategy support and guide the organisation with its direction. In January 2024, the Strategic Management Team reviewed the Strategic Objectives and they are now as follows:

8

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Strategic Objectives

1 Prevent homelessness where possible.

Financial Review

The results for the year showed a 5% decrease on last year in total incoming resources. Total resources expended in the year showed a decrease of 16% on last year, resulting in a net surplus for the year of £6,794 (2023 – deficit of £134,075).

Investment Policy

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit.

9

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Reserves Policy

The charity has set itself a policy of maintaining unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months expenditure. This policy is designed to provide the charity with sufficient funds to sustain its operations in the event of any changes to its funding streams and is aligned to Charity Commission recommended good practice. The target level of free reserves based on current activities is approximately £497,345. At 31 March 2024 the actual level of free reserves, excluding restricted funds, was £216,154. The charity continues to work on adding to these reserves and continues to keep the policy under review.

The Trustees (who are also Directors of The Bridge (East Midlands) for the purposes of company law) are responsible for preparing the Report of the Board of Trustees’ and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Board of Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to:

The Board of Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Board of Trustees who served during the year and up to the date of this report are set out on page 2.

In accordance with company law, the company’s Directors certify that:

10

THE BRIDGE (EAST MIDLANDS)

REPORT OF THE BOARD OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Auditor

The auditors, The Rowleys Partnership Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

25/09/2024

Approved by order of the Board of Trustees on and signed on its behalf by:

Jay Webb

signed on 26/09/2024, 14:24:33 BST J Webb Chair

11

THE BRIDGE (EAST MIDLANDS)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE BRIDGE (EAST MIDLANDS)

Opinion

We have audited the financial statements of The Bridge (East Midlands) (the ‘charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

12

THE BRIDGE (EAST MIDLANDS)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE BRIDGE (EAST MIDLANDS) (CONTINUED)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

13

THE BRIDGE (EAST MIDLANDS)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE BRIDGE (EAST MIDLANDS) (CONTINUED)

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

14

THE BRIDGE (EAST MIDLANDS)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE BRIDGE (EAST MIDLANDS) (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members and its trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

signed on 26/09/2024, 17:02:27 BST

Mrs L G Parkes FCA FCCA (Senior Statutory Auditor) for and on behalf of The Rowley’s Partnership Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester LE19 1WP

Date: 26/09/2024

15

THE BRIDGE (EAST MIDLANDS)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024

Unrestricted
Funds
Notes
£
Income from:
Donations and legacies
2
69,609
Investments
7,023
Charitable activities
3
427,628
Total Income
504,260
Expenditure on:
Costs of generating funds
99,932
Charitable activities
381,087
Total expenditure
4
481,019
Net income/expenditure before
transfers
23,241
Transfer between funds
14
-
Net income/(expenditure) before tax
23,241
Fund balances at 1 April 2023
192,913
Fund balances at 31 March 2024
216,154		 Unrestricted
Funds
Notes
£
Income from:
Donations and legacies
2
69,609
Investments
7,023
Charitable activities
3
427,628
Total Income
504,260
Expenditure on:
Costs of generating funds
99,932
Charitable activities
381,087
Total expenditure
4
481,019
Net income/expenditure before
transfers
23,241
Transfer between funds
14
-
Net income/(expenditure) before tax
23,241
Fund balances at 1 April 2023
192,913
Fund balances at 31 March 2024
216,154		 Restricted
Funds
£		 2024
£
69,609
7,023
918,057		 Unrestricted
Funds
£
96,382
2,414
447,512		 Restricted
Funds
£
-
-
499,226		 2023
£
96,382
2,414
946,738
69,609 -
7,023 -
427,628 490,429
504,260 490,429 994,689 546,308 499,226 1,045,534
99,932 - 99,932
887,963		 131,199
564,624		 -
483,786		 131,199
1,048,410
381,087 506,876
481,019 506,876 987,895 695,823 483,786 1,179,609
23,241
-		 (16,447) 6,794
-		 (149,515)
19		 15,440
(19)		 (134,075)
-
-
23,241 (16,447) 6,794 (149,496) 15,421 (134,075)
192,913 17,392 210,305 342,409 1,971 344,380
216,154 945 217,099 192,913 17,392 210,305

The notes on pages 19 to 32 form part of these financial statements.

16

THE BRIDGE (EAST MIDLANDS)

BALANCE SHEET AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors
Amounts falling due within one year
10
Net current assets
Net assets
Funds
Unrestricted funds
12
Restricted -
Income
14
Permanent endowment
13
Total funds
11		 2024
2023
£
£
1,115
6,321
64,093
59,348
321,629
352,082
385,722
411,430
(169,738)
(207,446)
215,984
203,984
217,099
210,305
216,154
192,913
471
16,918
474
474
217,099
210,305		 
25/09/2024

Approved by the Board of Trustees on and signed on its behalf by:

Jay Webb

signed on 26/09/2024, 14:24:33 BST

J Webb Chair

Company Registration number 03114996

The notes on pages 19 to 32 form part of these financial statements.

17

THE BRIDGE (EAST MIDLANDS)

STATEMENT OF CASHFLOWS YEAR ENDED 31 MARCH 2024

Note
Cash flow from operating activities
Cash generated from operations
18
Net cash flow from operating activities
Cash flow from investing activities
Purchase of new property, plant and equipment
Sale of property, plant and equipment
Investment income received
Net cash flow from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April 2023
Cash and cash equivalents at 31 March 2024
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2024		 2024
£
(36,700)
(36,700)
(776)
-
7,023
6,247
(30,453)
352,082
321,629
321,629
321,629		 2023
£
(8,309)
(8,309)
(526)
20
2,414
1,908
(6,401)
358,483
352,082
352,082
352,082

18

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

The principal accounting policies are summarised below.

(a) Basis of accounting

The Bridge (East Midlands) is a private company limited by guarantee registered in England and Wales (registration number 03114996) and registered charity regulated by the Charity Commission (registered number 1050596) with a registered address at John Storer House, Ward’s End, Loughborough, Leicestershire, LE11 3HA.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Fund accounting

(c) Recognition of income

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

19

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

(d) Expenditure recognition

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, which cannot be recovered, and is reported as part of the expenditure to which it relates:

(e) Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost, less the estimated residual value, of each asset over its expected useful life, at varying rates:

%
Fixtures and equipment 20.00 Straight line
Computer equipment 33.33 Straight line

All items of equipment that are not consumable in nature are capitalised. Donated assets are brought in at their second hand value at the date of receipt.

(f) Pensions

The charity participates in a defined contribution pension scheme for the benefit of the employees, the regular costs of which are expended in the Statement of Financial Activities as and when incurred.

(g) Leases

All leases are regarded as operating leases and payments made under them are expended in the Statement of Financial Activities over the term of the lease.

(h) Employee Benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the discounted amount expected to be paid in exchange for that service.

20

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

(i) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(j) Cash at bank and in hand

Cash at bank and in hand includes cash in hand and cash on deposit.

(k) Taxation

The Company is a registered charity and thus is exempt from taxation on its income and capital gains.

(l) Judgements and key sources of estimation uncertainty

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below.

i) Deferred and accrued income:

Income is deferred or accrued as appropriate in accordance with the Charities SORP 2019.

(m) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

21

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2. Voluntary income

Unrestricted
Restricted
Donations
69,609
-
3.
Incoming resources from charitable activities
Unrestricted funds:
Government and other public authorities		 2024
2023
69,609
96,382
2024
2023
£
£
427,628
447,512
427,628
447,512

3. Incoming resources from charitable activities

22

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3. Incoming resources from charitable activities (continued)

Restricted funds:
Children In Need
Vicars Relief Fund
Glasspool
Charity Link
Mountsorrel United Charities
YES
NWLDC-Rough Sleeper Initiative (formerly Rapid Rehousing)
Leicestershire County Council CWP Supplies Funding
Florence Turner Trust (Housing Advice)
Albert Hunt (Housing Advice)
Henry Smith charity
Aston on Trent WI (Food Vouchers)
Loughborough Lions
Shires Community Grant (Triage)
TNL grant - Triage
Getting Help in Neighbourhoods grant
Other food poverty donations
Food Poverty Contain funding
Co-op fund for Outreach
CBC Food Poverty funding
Masonic Charitable
Creative 62		 2024
2023
£
£
-
44,957
500
1,000
50
440
37
255
7,179
24,035
-
27,628
268,986
206,543
-
23,619
-
1,000
-
5,000
46,300
45,100
11
68
-
1,385
-
6,000
101,334
66,701
23,696
24,995
1,220
1,000
14
17,500
-
2,000
26,000
-
14,802
-
300
-
490,429
499,226

23

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4. Total resources expended

Direct Client Welfare (Contra)
Salaries and wages
Sundry Expenses
Audit Fees		 Basis of
allocation		 Central
HAT
HAT
Mediation
Mediation
SAP
RSI
RSI
NWL
TRO
Triage
Dynamic
VITA
GHiN
Food
Bridge to
Total
Total

Income
CBC
BSOC
CBC
MCF
Outreach
Supported
Lettings
Floating
support
Framework
Health
Poverty Collaboration
2024
2023
Direct
Direct
Direct
Direct		 21,681
-
-
-
-
-
-
-
-
-
-
-
-
-
5,497
-
27,178
92,677
56,868
78,153
24,629
24,105
14,159
-
199,206
65,971
6,522
21,047
86,300
150,052
32,790
20,234
-
-
780,036
876,764
68
98
36
84
45
-
367
104
-
49
237
283
49
45
-
-
1,465
3,210
2,350
995
368
509
471
-
3,563
1,140
89
517
1,698
2,124
517
479
-
-
14,820
9,932
Insurance
Literature and subscriptions
Print, Postage and stationery
Recruitment
Telephone
Training and travel
Repairs and Renewals
Starter Packs/Client emergency fund
Rent and Room Hire
Professional charges and admin fees
Marketing & Publicity
Interpreter costs
Contract Management Fees
Food Poverty Funding costs
Depreciation
Intercompany loan write off
Bad debt recovered		 Direct
Direct
Direct
Direct
Direct
Direct
Direct
s
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct		 2,242
942
359
494
449
-
3,477
1,010
-
494
1,705
1,794
494
449
-
-
13,909
14,357
1,219
877
-
268
244
-
4,170
561
-
268
1,247
975
268
244
-
-
10,341
11,420
278
147
49
76
61
-
538
173
-
113
300
437
67
61
-
-
2,300
2,689
277
335
128
188
160
-
1,347
359
-
176
607
1,037
176
160
-
-
4,950
958
2,360
1,072
408
562
511
-
3,958
1,149
-
562
1,941
2,042
562
511
-
-
15,638
19,184
1,927
1,136
1,111
1,344
1,701
26
15,370
3,967
20
398
1,212
4,612
416
988
-
28
34,256
24,864
49
20
8
11
18
-
126
30
-
11
1,783
119
11
18
-
-
2,204
2,508
505
-
-
-
-
-
2,327
1,598
-
-
28
57
-
-
-
-
4,515
6,252
2,307
3,985
369
502
517
-
3,661
1,039
-
572
1,872
1,846
508
462
152
-
17,792
18,279
4,694
2,452
934
1,286
1,170
-
10,041
2,931
-
1,337
4,441
4,810
1,315
1,170
-
-
36,581
38,996
2,357
1,010
385
530
482
-
3,730
1,083
-
554
2,023
1,925
530
482
-
-
15,091
17,842
-
913
-
-
-
-
-
-
-
-
-
-
81
-
-
-
994
796
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
17,715
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,684
964
405
154
212
193
-
1,495
434
-
212
733
772
212
193
-
-
5,979
11,336
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,146
(154)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(154)
-
99,992
92,540
28,938
30,171
20,181
26
253,376
81,549
6,631
26,310
106,127
172,885
37,996
25,496
5,649
28
987,895
1,179,609

24

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Auditor’s remuneration

Auditors’ remuneration – audit services
Fees paid to Auditor for non audit services
Fees paid to Auditor for non audit services – subsidiary
6
Staff costs and numbers
Staff costs were as follows:
Salaries
Agency and other staff costs
Social security costs
Pension contributions
Ex gratia payment		 2024
£
7,300
2,700
-
10,000
2024
£
684,922
15,900
44,381
34,833
-
780,036		 2023
£
5,900
2,200
1,350
9,450
2023
£
734,103
26,127
52,898
56,036
7,600
876,764

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £34,833 (2023 - £56,036). Unpaid contributions at the balance sheet date amounted to £4,136 (2023 - £4,553).

During the year £nil (2023 - £nil) of out of pocket expenses were reimbursed to Trustees and no Trustees in this year or the preceding year were in receipt of remuneration.

No employee received emoluments of more than £60,000.

The Chief Officer was considered to be a key employee along with the Head of Programmes & Services and the Finance Manager; their remuneration for the year was £116,578 (2023: £96,178).

The average number of employees during the year was as follows:

The average number of employees during the year was as follows:
Charitable activities
Generating funds
7
Taxation		 2024
31
1
32		 2023
32
1
33

The charity is exempt from corporation tax on its charitable activities.

25

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8
Tangible fixed assets
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Accumulated Depreciation
At 1 April 2023
Charge for year
Eliminated on disposals
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023		 Computer Equipment
£
76,916
776
(61,244)
16,448
71,619
5,378
(61,244)
15,753
695
5,297		 Fixtures &
Equipment
£
53,469
-
-
53,469
52,445
604
-
53,049
420
1,024		 Total
£
130,385
776
(61,244)
69,917
124,064
5,982
(61,244)
68,802
1,115
6,321

26

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9
Debtors
Trade Debtors
Prepayments and other debtors
Amounts owed by group undertakings
10
Creditors (amounts falling due within one year)
Trade creditors
Other taxes and social security
Accruals and deferred income
Other Creditors		 2024
2023
28,313
30,405
35,780
28,943
-
-
64,093
59,348
2024
2023
8,054
16,839
14,587
10,957
142,961
175,097
4,136
4,553
169,738
207,446

11 Analysis of net assets between funds

31 March 2024

Tangible fixed assets
Net current assets
Net assets at 31 March 2024
31 March 2023
Tangible fixed assets
Net current assets
Net assets at 31 March 2023		 Unrestricted
Funds
£		 Restricted
Income Funds
£		 Endowment
funds
Total
£
£
-
1,115
474
215,984
1,115
215,039		 -
471
216,154 471 474
217,099
Unrestricted
Funds
£		 Restricted
Income Funds
£
-
16,918		 Endowment
funds
Total
£
£
6,321
186,592		 -
6,321
474
203,984
192,913 16,918 474
210,305

27

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12 Unrestricted funds

31 March 2024

Balance at 1 April 2023
Surplus/(deficit) for year
Transfers
Balance at 31 March 2024
31 March 2023
Balance at 1 April 2022
Surplus/(deficit) for year
Transfers
Balance at 31 March 2023		 General
Undesignated
Funds
£
162,913
23,241
-		 Redundancy
Contingency
Total
£
£
30,000
192,913
-
23,241
-
-
186,154 30,000
216,154
General
Undesignated
Funds
£
312,409
(149,515)
19		 Redundancy
Contingency
Total
£
£
30,000
342,409
-
(149,515)
-
19
162,913 30,000
192,913

13 Restricted funds – permanent endowment

This fund represents the assets donated by Charnwood Shelter Project to The Bridge (East Midlands). There has been no movement on this fund during 2024 nor 2023.

28

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Restricted funds 31 March 2024

Restricted funds
31 March 2024
Children in Need Fund
Vicars Relief Fund
Glasspool
Leicester Charity Link
Buttle Trust
Henry Smith Charity
Aston on Trent WI (Food Vouchers)
TNL grant - Triage
Getting Help in Neighbourhoods grant
NWLDC-Rough Sleeper Initiative
Mountsorrel United Charities
Loughborough Welfare Trust
Other food poverty donations
Food Poverty Contain funding
CBC Food Poverty
Masonic Charitable
Creative 62		 At
Incoming Resources
Transfers
At
01/04/2023 Resources Expended
31/03/2024
£
£
£
£
£
1,218
- 1,218
-
-
43 500 543
-
-
- 50 50
-
-
241 37
- - 278
192
- - - 192
380 46,300 46,680
-
-
- 11 11
-
-
12,452 101,334 113,786
-
-
- 23,696 23,696
-
-
- 268,986 268,986
-
-
2,391 7,179 9,570
-
-
1
- - - 1
- 1,220 1,220
-
-
- 14 14
-
-
- 26,000 26,000
-
-
- 14,802 14,802
-
-
- 300 300
-
-
16,918 490,429 506,876
- 471

29

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14
Restricted funds (Continued)
31 March 2023
Children in Need Fund
Vicars Relief Fund
Glasspool
Leicester Charity Link
YES - Youth Employability Support
Buttle Trust
Leicestershire County Council - CWP Supplies
Funding
Florence Turner Trust - Housing Advice
Albert Hunt - Housing Advice
Henry Smith Charity
Aston on Trent WI (Food Vouchers)
Loughborough Lions
Shires Community Grant (Triage)
TNL grant - Triage
Getting Help in Neighbourhoods grant
NWLDC – Rapid Rehousing Grants
Mountsorrel United Charities
Loughborough Welfare Trust
Other food poverty donations
Food Poverty Contain Funding
Co-op fund for Outreach		 At
Incoming Resources
Transfers
At
01/04/2022 Resources Expended
31/03/2023
£
£
£
£
£
- 44,957 43,739
- 1,218
1,043 1,000 2,000
- 43
- 440 421
(19)
-
261 255 275
- 241
- 27,628 27,628
- -
192
- - - 192
- 23,619 23,619
- -
- 1,000 1,000
- -
- 5,000 5,000
- -
- 45,100 44,720
- 380
- 68 68
- -
- 1,385 1,385
- -
- 6,000 6,000
- -
- 66,701 54,249
- 12,452
- 24,995 24,995
- -
- 206,543 206,543
- -
- 24,035 21,644
- 2,391
1
- - - 1
- 1,000 1,000
- -
- 17,500 17,500
- -
- 2,000 2,000
- -
1,497 499,226 483,786
(19)
16,918

The main funds are held for the following purposes:

Children in Need – funding towards 3 x mediator posts and a contribution towards non-staffing costs. Loughborough Welfare Trust – contribution towards canvas bag initiative (reduction in plastic carrier bag use for food parcels).

Vicars’ Relief Fund – Funding for client essentials/furniture/rent.

Glasspool - funding for client essentials/furniture/rent.

Leicester Charity Link - funding for client essentials/furniture/rent.

YES - funding to work with young people who are furthest from the labour market.

30

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Restricted funds (continued)

Buttle Trust – funding for client essentials/furniture.

Leicestershire County Council Shire Community Grant - contribution towards Charnwood Food Poverty Group.

NWLDC (Rapid Rehousing) – funding for 3 x support workers to deliver a rapid rehousing service. Mountsorrel United Charities - contribution towards Charnwood Food Poverty Group.

Co-op – funding for food poverty.

Other food poverty donations – various individual donors who specified that the money be used for food poverty relief.

Food Poverty Contain funding - funding for food poverty.

Co-op fund for Outreach – this was to provide emergency supplies such as hot drinks, socks, sleeping bags, hot food etc for rough sleepers by our outreach team.

Getting Help in Neighbourhoods grant – funding to boost help in local communities – promoting resilience, prevention and self-help.

TNL grant – Triage – funding from the National Lottery to fund our triage team and in particular the set up of triage hubs around the county so that our provision of help is more countywide. Shires Community Grant (Triage) – additional funding to top up triage hours from TNL grant. Loughborough Lions – funding towards the relief of food poverty.

Henry Smith Charity – funding specifically to cover the salary costs of the head of programmes and services.

Leicestershire County Council – CWP Supplies Funding – funding for the provision of food parcels and fuel payments to eligible claimants resident in Charnwood.

Where the balance is in credit this represents a short term timing difference with expenses yet to be recouped through service contracts.

15 Operating lease commitments

The charity had the following commitments under non-cancellable operating leases as set out below:

Operating leases which expire:
One year
Between two and five years		 Land and Buildings
2024
2023		 Land and Buildings
2024
2023		 Other Operating Leases
2024
2023
177
266
-
177
177
443		 Other Operating Leases
2024
2023
177
266
-
177
177
443
5,200 6,000
- 2,500
5,200 8,500
443

31

THE BRIDGE (EAST MIDLANDS)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Related Party Transactions

Trustee Jeanette Webb is also managing director of Jay Webb Consultancy Services Limited. During the Year Jay Webb Consultancy Limited supplied the BreatheHR software to the charity at cost price and also Provided IT support in relation to the BreathHR software free of charge. Jay Webb Consultancy Services Limited also paid a total of £Nil (2023:£990) on behalf of the charity during the year as a contribution towards The cost of the Niche Awards.

The total amount of donations received without conditions from trustees was £1,900 (2023:£530)

17 Deferred Income

Deferred income comprises grant and other income paid up front for the fulfilment of charitable activities:

activities:
2024 2023
Balance as at 1 April 2023 164,814 111,299
Amount released to income earned from
charitable activities		 (132,197) (64,515)
Amount deferred in year 96,818 118,030
Balance as at 31 March 2024 129,435 164,814
18 Reconciliation of net income to net cashflow from operations
2024 2023
Net income for year 6,794 (134,075)
Depreciation of tangible fixed assets 5,982 11,336
Loss on disposal of fixed assets - -
Investment income (7,023) (2,414)
Decrease/(increase) in debtors (4,745) 90,697
Increase/(decrease) in creditors (37,708) 26,147
(36,700) (8,309)

32