Charlty reglstratlon number 1051459 Company reglstratlon number 03135093 (England and W31e51 THE BRIDGE THEATRE TRAINING COMPANY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
THE BRIDGE THEATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms R L Smedley Shulman Mrs R Baker Mr M J Harrington Ms J Hunter Secretary Mr M A Akrill Charlty number 1051459 Company number 03135093 Principal address Cecil Sharp House 2 Regent's Park Road London NWI 7AY 19 Parkfield Road South Harrow Middlesex HA2 8LA Reglstered office Mark Adrlan Gold Silver Levene (UK) Limited charte Certified Accountants 37 Warren Street London WIT6AD Independent examiner
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, Report reix)rt Independent examiner's report Statement of fiNala1 activities Balance sheet Notes to the financial statements 7-13
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY 2022 The trustees present their annval report and financial statements forthe year ended 31 July 2022. The financial statements have been prepared in accordance with the accounting F)olicies set out in note I to the financial statements and comply with the charity's memorandum and articles of association. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leflective l January 20191 Oblectlves and activities The objects are to advance education by the provision of training to students of all classes, races, ages and nationalities in theatre, drama and the performlng arts and to advanee public education in the dramatic and performing arts. The policy adopted in furtherance of these objects is to run a training school and there has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Comrnission in deeiding what activities the charity should undertake. The company continued to provide trainlngto students in theatre. drama and the performing arts during the year. The Iruslees confirm that they have had regard to the Charity Commission's published guldance on pubiyc benefit. Achievements and performance The charity's past students continue to be involved in successful theat¥e and television productions which is a great credit to the charity. Financlal review Income decreased from E394,035 to £280,219 and the overdll deliclt was increased. In the year ended 31st July 2021 income was higher than ususal due to deferred income being brought forward into 2022, as a result of student5 in 2020 not being able to undertake their studies due to Covid restrictions. Rlsk Management The trustees have a risk management strategy which comprises.. -an annual review of the principal risks and uncertainties that the charity faces; .the establishment of policies. systems and procedures to mitigate those risks identified in the annual review., and .the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. Future plans The Trustees are pleased with student numbers. Structure, governance and management The charity is a charitable company limited by guarantee, Incorpomted on 7 December 1995 and registered as a charity on IS Dernber 1995. The companywas established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by the Articles of Association. The trustees, who arè also the directors for the purpose of company law. and who served during the year were.. Ms R L Smedley Shulman Mrs R Baker Mr M J Harrington Ms J Hunler
THE BRIDGE THEATRE TRAINING COMPANY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT REPORT ICONTINUEDIIINCLUDING DIRECTORS. REPORTY FOR THE Y&4R ENDED 31 JULY 2022 Thè exislknw Iru616 tn¥lie and 8ppolnl p&rsiyi8 they ¢onsider $vltob191o loln 88 IrUs(S$. of tha wsle&31)ave & bMellclal Intere81 in Ihe corY4)Any. All ol Ihe Iruslee8 members of Ihe ¢7ompany and guaranlea io eonlrtbule £1 Ihe gvenl ol a wlndlng up. ThlB repori has b8en propaf8d In accOrdar wilh Ihe provSJlons 8pplk¢ablè lo c¥Mnpanie8 8£ect lo the small 1MpanI*S reglmo, Th¢ rusiees, rep orl was 8pprDv8d by ilie 808fd ol Tru81888. odlay Shul Truste D&i•d'.
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE5 OFTHE BRIDGE THEATRE TRAINING COMPANY I report to the trustees on my examination of the accounts ol The Bridge Theatre Training Company (the charity) for the year ended 31 July 2022 which comprise the Staternent of Financial Activities, the Balan Sheet and related note5. This report is made solely to the charity's trustees, as a body, In accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not a¢cept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work. for this report. or for the opinions I have formed. Responslbllities and basls of report As the trustees of the charity (and also its dlrectors lor the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirement5 of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the accounts of the charity are not required to be audSted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions Eiven by the Charity Commission under sectlon 145(5)(bl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audil and consequelltly does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes t)eyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the tinancial statements present a 'true and fair, view and rny report is limited to those specific matters set out in the independent examinerfs statement. Independent examiner's statement Since the charity'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 l am qualified to undertake the examination because l am a member of ACCA, which is one of the listed bodies. I have ¢ompleted my examination. J conliTm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: -accounting records were not kept In respect of the charity as required by section 386 of the 2006 Act- or -the financial statemeNt5 do not accord with those records., or -the linancial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair wew which is not a matter considered as part of an independent examination., or -the financial statements have not been prepared in acetsrdance with the methods and principle5 of the statpmpnt of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 1021.
THE BRIDGE THEATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRIDGE THEATRE TRAINING COMPANY I have no eoncerns and have come across no other matters in conneetlon wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. lark Adrian Gold Sllver Levene lun Llmlted Chartered Certified Accountants 37 Warren Street London WIT 6AD Dated: l..l.l.lrt L lo É)
THE BRIDGE THEATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2022 Unrestricted Restrirted fund5 funds 2022 2022 Total Unrestricted Reslricted fund5 fun(Js 2022 2021 2021 ££ Total 2021 Notes Oonations and legacies Charitable activities 2.533 2,533 280,219 16,055 16,055 394,035 280,219 394,035 Total income 280.219 2.533 282,752 394,035 16,055 410.090 Ex enditure on: Raising funds 28.260 28,260 30.273 30.273 Charitable activities 281,608 2.533 284,141 341,720 16,055 357,775 Total resources expended 309,868 2.533 312,401 371,993 16,055 388,048 Net lexpendlturellincome for the yearl Net movement In funds (29,649) {29,649) 22,042 22,042 Fund balanS at i August 2021 (20.6331 {20,633) (42,6751 (42.6751 Fund balances at 31 July 2022 (50,282) 150,282) (20,6331 (20,6331 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement ol financial activitie5 also complies with the reqtjirements lor an income and expendItre account derthe Companies Act 2006.
THE YRIDGE THÈATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEEI BALANCE SHEET AS AT 31 JULY2022 2022 2021 Notes Flxed attts Tangiblg a?0Ots 5.416 6.373 ¢14rrgvt a$$l$ Cash al bahk and is) hand 4.070 17,730 Crtrdltois.. amounts falllnB due wllhl on8 y•4r 10 144,7361 $1 ¢urrgnl lia1 166.6961 127.0061 Tot41 assets10$6 ¢urrent Ilablllti• 150,2821 120,fj33) Income lunds Unr&¥lricted fun< {50,2821 120.633) 150.2621 120,633) Tlie coinpany Is enliiled 10 rhe Qxempllon Ifom au¢Jil IBqu¢m$nl ¢Ot)toinod In 80rlion 477 0( tho Cgmpanl•8 AGI 2006. lor Ihe year ended 31 July 2022. Tlig directors acknowledge Iheir regpon$5blllli&s lor complySng 117 lh$ requir0n of the Companles Act 2006 wllh regpeei to 8¢¢OLinth)g reeords and Ihe pwp8raliot) ol Ili)anciol slaienienig. The mttmbers have not Yequlre¢l th8 nanY lo obtain an aLKIIt of its linanelal siatertnt$ lor the yetsr In queslh)n Ih accordance w411i $8cllon 476. These fln&nclal stalèmenls havè baen prepar&l In accordance wlth Ilie provslon$ appllc8ble to ¢anpanlos 8ublect 10 Il $mall compantes reglma. Thè fin nel rr8 8PPfoved ty the Ti'ust668 On . RLSO TrLlStoo dley Sliulina Company rogl$tratlDn numb•r 03135093
THE BRIDGE THEATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Accountlng policles Charlty information The Bridge Theatre Training Company is a privatè company limited by guarantee incorporated in England and Wales. The rewstered office is 19 Parkfield Road, South Harrow, Middlesex. HA2 SLA, 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's Igoverning documentl, the Companies Act 2006, FRS 102 "The Finan¢ial Reporting Standard applicable in the UK and Republic ol Ireland" I'FRS 102,1 and the Charities SORP 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 ol IreLand {FRS 102) leflective l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provi5ion5 in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in steilin& which is the functional currency of the charity. Monetary amounts in these financial statemenls are rounded to the nearest £. The account5 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern These financial statements are prepared on the going concem basis. The trustees have a reasonable expectation that the charity will continue in operatitsnal existence for the foreseeable luture, however, the trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern. 1.3 Charitable funds All retained funds are unrestricted and undesignated. Unrestricted funds are available for use at the discretlDn of the tru51ees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and Uses ol the restricted funds are set out in the notes lo the finaneial statements. 1.4 Incomin8 resources Income is recognised when the charity is legally entitled tts it after any performance conditions have been met, the amounts can be measured reliably. and it is probat)le that income will be received. Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except insolai as they are ii)capable of financial measurement. Monies received before the year end in Tespect ol sehool fees for the following year are treated as deferred income. Income from training fees receivable is included in incoming resources in the period in which the relevant training lakes place. Income is recogniseé when the charity is legally entitled to it after any performanee conditions have been met, the amounts can be measured reliably, and It is probable that income will be received.
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEEI OTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Accounting policies {Contlnuedl Government grants are recognised at the fair value of the asset received or receivable when there Is reasonable assurance that the grant conditions will be met and the grants will be re}ve. A grant that specifies performance conditions is recogni5ed in income when the performance conditions a met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or reeeivat)le. A grant received before the recognition criteria are satisfied is recognised as a liability. 1.5 Resources expended All expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis conslstent with use otthe resources. Support costs have been allocad between governance costs and other support. Governance tosls comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central ftjnctions and have been allocated to activity cost categories on a basls conslstent with the use of resources, eE allocating property costs by floor areas. or pef capit& staff costs by the time spent and other costs by their usage. 1.6 Tangible fixed assets Tangible fixed asset5 are initially measured at C05t and subsequently measLred at Cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write oll the cost orvaluation of as5et5 less their residual values over their useful lives on the following bases.. Fixtures. littlngs & equipment15% reducing bance basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value ol the asset, and is recognised in the statement of financlal activities. 1.7 Impalrment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment Ioss lif any). Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price inclLJding transaction costs and are subsequently carried at amtsrtised cost Ltrsing the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as re1vable within one year are not amortised.
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2022 Accounting policies {Contlnuedl Impalrment of flnanclal assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted al the asset's original effective interest rate. The impairrnent Ioss is recognised in net incomellexpenditurel for the year. If there is a decrease in the imparment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exTred what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net incomellexpenditure) forthe year. Derecognltion of financial assets Financial assets are derecognised only when the contractual rlghts to th& eash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third paty. Baslc flnanclal Ilabllltles Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortlsed cost, using the effective interest rate method. Trade creditor5 are obligatior15 to pay for goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities If payment is due within one year or less. If not, they are presented as non-current liabllities. Trade erecjitors are recognised initlally at tmnsaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnanci31 Ilabilitles Financial liabilities are derecognised when the charity's contractual obligations explre or are dlscharged or cancelled. 1.8 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the ernployee'5 services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably Committed to terminate the employment of an employee or to provide termination benefits. 1.9 Retlrement beneflts Payments to defined contiibution retirement benefft schemes are Charg as an expense as theylall due.
THE BRIDGE THEATRE TRAINING COMPANY {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Donations and legacies Restrlcted Restricted funds funds 2022 2021 Coronav¢rus Job Rotention Scheme Grant 2,533 16,055 Charltable attlvltles Training Training fee5 fees recelvable recelvable 2022 2021 Income within charitable aetivities Less= delerred Income 321,388 (41.1691 426,450 (32,4151 280.219 394.035 Ralsln8 funds 2022 2Q21 Costs of publicising the trainin8 school and stage shows AdveTtisinE 28.26 30,27 28,26 30.27 -io-
THE BRIDGE THEATRE TRAINING COMPANY (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Charltable activltles stsff costsother cost Totalstaff costsother c05t 2022 Tota 2022 2022 20212021 £ £ £ 202 Staff costs Oepreciation and impairment Costs of staging plays Costs of theatre and zoo trips 64,851 64,851 52.174 52.176 956 956 137.878 1,105 137.878 1.105 172.108 3,869 172,108 3,869 Share of support costs (see note 61 Share of governance costs (see note 61 52,938 2L733 74.671 98.780 26.644 125.424 4,680 4,680 4,200 4,200 117,789 166.352 284,141 150,954 206,821 357,775 Analys55 by fund Unrestricted funds Restricted lunds 115,256 2,533 160,352 281,608 2,533 134,899 16,055 206,821 341,720 16,055 117,789 166,352 284,141 150,954 206,821 357,775 Support costs Support Governance costs costs 2022 Support Governance costs costs 2021 Staff costs Other office costs 52,93 52.93 98,780 26,644 98,780 26,644 21,73 21,73 Governance Costs 4,68 4,20 4,200 4.680 125,424 129,624 Analysed between Charitable activities 74,67 74,67 4,68 8,680 79,35 79.35 4,20 8,200 125,424 129,624 Governance costs includes payments of £4.68012021: £4,200) for an independent examination. Trustees NoTre of the trustees {or any persons eonnected with them) received any remuneration or benefSts from the charity during the year. -li-
THE BRIDGE THEATRE TRAINING COMPANY IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Employee5 Number of employees The average monthly number of employees duringthe year was: 2022 Number 2021 Number Management and administration io Employment costs 2022 2021 Wages and salaries Social security costs Other pension costs 115,101 1.900 788 144,924 4,417 1,613 117,789 150,954 The key management personnel 0¢ the charity comprise5 of the Joint Artistic Directors Mark Akrill and Judith Pollard. No employees received emoluments of more than £60,000 duringthe year or preceding year. Tanglble flxed assets Flxtures, flttings & equlpment Cost At l August 28,96 2021 At 31 July eciation and Impalrment At l August 2021 Depreciation charged in the year 28,96 2.596 956 At 31 July 2022 23.552 Carrylng amount At 31 July 5.41 2022 At 31 July 2021 6,37 -12-
THE BRIDGE THEATRE TRAINING COMPANY (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 10 Creditors: amounts falling due within one year 2022 2021 Notes Other taxation an(J soclal security Deferred income Other creditors A¢¢ruals 2,686 41,169 11,233 4,680 2,809 32,415 5,312 4,200 59.768 44,736 7 1 Deferred Income 2022 2021 Deferred income brought forward Amounts charged or {credited) to statsment of financial activities 32,415 114,043 8,754 (81,628) 41,169 32,415 12 Retirement benefit schemes Deflned contrlbutlon schemes The charity operates a defined contribution pension scheme for all qLfralifying employees. The assets ol the scheme are held separately from those of the charity in an independently administered fund. The charge to profft or loss in respect of defined contribution schemes was £788 {2021- £1,613). 13 Related party transactions There were no disclosable related party transactions during the year12021- none).