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2023-03-31-accounts

BRIDGE CHURCH LINCOLN In Fellowship with Assemblies of God

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023

Bridge Church Lincoln is a registered charity (1052167)

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INDEX TO FINANCIAL STATEMENTS

Page No

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES ANNUAL REPORT

Full Name

Bridge Church Lincoln in Fellowship with Assemblies of God

Registered Charity Number

1052167

Registered Office

Bridge Central Portland Street Lincoln LN5 7NN

Trustees

Dave Wade – Chair Kim Askew - Treasurer Simon Carter Anthony Askew

Governing Document

The charity is operated under the rules of its Constitution and Trust Deed in fellowship with Assemblies of God, adopted 2006, as amended by resolution 2011.

Bankers

HSBC Bank Plc 88 Westgate Grantham Lincolnshire NG31 6LF

Solicitors Geldards Number One Pride Place Pride Park Derby DE24 8RQ

Independent Examiner

S V Miller ACMA 66 Westcliffe Street Lincoln LN1 3TZ

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES’ ANNUAL REPORT

The Trustees have pleasure in presenting their annual report and financial statements for the year ended 31 March 2023.

Objects

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

Charitable objects

The objects of the church are for the benefit of the public:

(a) to advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the church council from time to time may think fit;

(b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the church council from time to time think fit; and

(c) to advance education in such ways and in such parts of the United Kingdom or the world as the church council from time to time may think fit.

Organisation

Membership is open to any individual who; by grace has exhibited saving faith in Lord Jesus Christ; desires to worship and serve God in the context of the Statement; and is committed to promoting the Objects. Management of the Church is by the Church Council which will include the Senior Minister of the Church, the minimum number of members of the Church Council shall be three.

Financial Review

The financial statements on pages 7 to 13 comply with statutory requirements.

The statement of financial activities on page 7 shows a total net incoming resources on General Funds of minus £39,188 (2022: £1,866). The church has continued to fund out of the general fund a variety of projects and activities, which are in line with its stated objectives. The level of activity for the year was satisfactory and the trustees believe that this will continue for the foreseeable future. The cumulative balance on the unrestricted general fund at the year-end was £341,318 (2022: £302,130).

The church is dependent upon the continued receipt of donated income and grants, there is also the opportunity to gain income through the rental of office space. At the year end the financial position of the church was satisfactory. The church receives a certain amount of voluntary help, it is not possible to quantify the value of the time given. We are extremely grateful to all our volunteers who help the church and its various activities to run smoothly.

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 REPORT OF THE TRUSTEES

Reserves Policy

The Trustees’ aim is to hold around £70,000 in reserves representing approximately three months’ worth of expenses and redundancy costs. This should allow the Trustees time to take the necessary corrective action to gain funding should current income sources dry out.

Review of Activities

This financial year saw a continuation of the partnerships and initiatives launched during the previous year. Our involvement in our local communities has seen growth and strength.

Our NHS partnership was fully established with contracts secured for 4 full-time Community Connectors, as well as a number of wellbeing spaces across all 4 patches. By the end of the financial year, we were delighted to have secured a further 3 years funding for this initiative. Through this, we aim to play our part in joining the dots between mental health services and all the projects and support mechanisms being offered by the third sector.

Our Youth work has continued to incorporate drop-in sessions at our building, as well as local Primary Schools work – this has been funded through a variety of sources and the long term plan is to secure funding from a partner source to offer stability and longevity.

Our FiSH project continued to offer additional weeks of provision for families who needed help to feed their children during school holidays and continued to work together with other churches to ensure that local villages were also able to run the project.

Our Christmas Sack Project went back to one base of operation (as opposed to the pilot of the previous year). This was primarily for logistical reasons. In terms of partnerships, these were as strong as ever and the number of referrals were higher than the previous year. We were also able to give out 100 Christmas Dinners as part of a partnership with Pepperells solicitors.

Our Night Light Café continued to run on a Monday evening, with volunteers being trained in Mental Health First Aid and other suitable courses.

Our staffing structures have grown and evolved in order to meet the demands of our vision. Our Operations Executive now has a team of staff underneath her to cover the essential aspects of organisational strength.

We continue to be grateful for God’s provision as well as the commitment from our church members.

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 REPORT OF THE TRUSTEES

Trustees' responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They 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.

Internal control and risk management

The Trustees continue to monitor the major risks to which the charity is exposed and to keep under review the adequacy of the systems which they believe are adequate and appropriate to the size of the charity and the nature of its operations

Signed on behalf of the Trustees

Signed……………………………………………………….. Dated …………………. Treasurer

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below:

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed ………………………………………………. Dated …………………………….

Sue Miller ACMA

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF FINANCIAL ACTIVITIES

2023 2023 2023 2022
£
£		 £ £
RECEIPTS Unrestricted Restricted Total Total
Offerings 87,141
13,270		 100,411 69,868
Gift aid 25,065
2,723		 27,788 15,120
Community Venue & Hub 33,595
0		 33,595 35,133
Hire of buildings 74,463
0		 74,463 65,524
Car Park Income 14,880
0		 14,880 12,737
Grants received 10,172 201,886 212,058 165,641
Youth & Kids 0
3,590		 3,590 330
FISH Income 0
15,227		 15,227 18,037
Christmas Sacks 0
13,645		 13,645 4,069
Other income 111
0		 111 5,502
Total Income 245,427
250,341		 495,768 391,961
LESS PAYMENTS
Staff Costs 71,760
147,282		 219,042 153,837
Project Costs 0
46,458		 46,458 0
Ministry & Gifts 7,570
3,541		 11,111 29,462
Consumables 3,319
2,236		 5,555 4,443
Utilities & Alarms 18,216
19,602		 37,818 33,891
Repairs & Maintenance 3,294
8,944		 12,238 40,726
Equipment & Furniture 1,342
6,457		 7,799 0
Tech 1,945
3,732		 5,677 0
Insurances 4,512
0		 4,512 4,095
Office Costs 2,364
98		 2,462 2,313
Rent Dunston House 60,000
0		 60,000 60,000
Bridge Youth & Kids 0
5,007		 5,007 1,156
Subscriptions 8,355
174		 8,529 4,085
Training, Conferences & Travel 7,043
6,743		 13,786 3,880
FISH Expenses (340)
25,419		 25,079 28,426
Christmas Sacks 0
8,607		 8,607 4,823
Sundries 407
0		 407 0
Accountancy 3,095
0		 3,095 1,420
Loan interest & Bank Charges 10,986
261		 11,247 9,041
Depreciation on Fixed Assets 2,371
0		 2,371 2,444
Total Payments 206,239
284,561		 490,800 384,042
Net incoming/(outgoing) resources for year 39,188 (34,220) 4,968 7,919
Balance brought forward 302,130
88,349		 390,479 382,560
Balance carried forward 314,318
54,129		 395,447 390,479

Approved by the Trustees and signed on their behalf by:

Signed ………………………………………………. Dated ……………………………., Treasurer

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 BALANCE SHEET

Note 2023 2022
£ £
Tangible Fixed Assets 4 593,586 595,957
Current Assets
Debtors and prepayments 5 5,339 6,302
Cash at bank and in hand 7 95,487 106,799
Sub totals 100,826 113,101
Current Liabilities
Creditors: amounts falling due within one year 6 35,616 34,642
Net current liabilities 65,210 78,459
Total assets less current liabilities 658,796 674,416
Financed by:
Current Year surplus/(deficit) 4,968 7,919
Unrestricted funds retained 302,130 303,996
Restricted funds retained 88,349 78,564
Mortgage & Loan 6 263,349 283,937
Total Funds 658,796 674,716

Approved by the Trustees and signed on their behalf by:

Signed ………………………………………………. Dated ……………………………. Treasurer

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE ACCOUNTS

1. THE BASIS OF ACCOUNTING

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The trustees expect the charity to continue operating as normal for the foreseeable future, able to meet its obligations as they fall due, and that they have no plans to close the charity or to significantly curtail its operations. The charity is a going concern.

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.

2. ACCOUNTING POLICIES

2.2 Income

Recognition of Income

These are included in the Statement of Financial Activities (SoFA) when:

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor.

Contractual income and performance related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Donated goods

The value to the charity of the donated goods sold is recognised as income when sold. The proceeds of sale are categorised as ‘Community Venue & Hub’ in the SoFA.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the Trustees annual report.

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE ACCOUNTS

2.3 Expenditure and Liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Redundancy cost

The charity made no redundancy payments during the reporting period.

2.4 Assets

These are capitalised if they can be used for more than one year and cost at least £500.

They are valued at cost.

The depreciation rates and methods used are:

Furniture 10% reducing balance Computer equipment straight line method over 3 years Other equipment straight line method over 5 years Freehold buildings Nil

3. EMPLOYEES

During the 12 months there were 13 members of paid staff.

Total staff costs 2023 £219,042 2022 £153,837

Average number of full-time equivalent staff during the year 8.

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE ACCOUNTS

4. TANGIBLE FIXED ASSETS

2023 2022
£ £ £ £ £ £
Freehold Furniture Equip Computer Total Total
Cost at 1st April 2022 564,765 17,132 13,766 294 595,957 598,401
Additions 0 0 0 0 0 0
Disposals 0 0 0 0 0 0
Cost at 31st March 2023 564,765 17,132 13,766 294 595,957 598,401
Depreciation charge for
year		 0 1,676 519 176 2,371 2,444
Net book value 564,765 15,456 13,247 118 593,586 595,957

Depreciation is calculated to write off assets over their estimated useful lives.

5. DEBTORS 2023 2022
Gift Aid 1,747 2,375
Parking Income 986 557
Rent 658 3,370
Room Hire 1,608
Refund from Tesco for FiSH 2022 340
Total 5,339 6,302
6. CREDITORS
Creditors: amounts falling due within one year 2023 2022
£ £
Mortgage 19,696 19,696
Bounce back loan 10,648 10,649
Other creditors 5,272 4,297
Totals 35,616 34,642
Creditors: amounts falling due after one year 2023 2022
£ £
Mortgage 234,315 245,377
Bounce Bank Loan 29,034 38,560
Totals 263,349 283,937

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE ACCOUNTS

7. CASH AT BANK AND IN HAND
7. CASH AT BANK AND IN HAND 2023 2022
HSBC Current Account 31,051 25,103
HSBC Project Account 50,960 63,933
HSBC FISH Account 5,786 14,376
HSBC Christmas Sacks Account 7,690 3,334
Cash in hand 0 53
Totals 95,487 106,799

8. SUMMARY OF INCOME

8. SUMMARY OF INCOME 8. SUMMARY OF INCOME
Unrestricted Restricted Total
Grants
Abby Access
Assemblies of God
Arnold Clark
Benefact Trust
BNA
Heritage Trust of Lincolnshire
Lincolnshire Coop
Lincoln City Council
Lincoln City Foundation
Lincolnshire Community Foundation
Lincoln University		 0
0
0
0
0
800
0
5,167
0
2,000
0		 13,549
1,000
1,000
8,700
10,000
0
430
2,409
750
0
627		 13,549
1,000
1,000
8,700
10,000
800
430
7,576
750
2,000
627
National Grid
National Lottery
NHS Lincolnshire
Lincoln Methodist District
Sandhills
SHINE
Toy Trust
Urban Challenge		 0
0
0
0
0
0
0
0		 10,000
10,000
115,754
8,000
2,000
10,000
5,000
350		 10,000
10,000
115,754
8,000
2,000
10,000
5,000
350
Other Income details on Profit & Loss 237,460 40,772 278,232
Totals 245,427 250,341 495,768

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BRIDGE CHURCH LINCOLN FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE ACCOUNTS

9. SUMMARY OF FUND MOVEMENTS

SUMMARY OF FUND MOVEMENTS
Fund Name
Opening
Balance		 Received Expenditure Balance
Restricted
Baby Baskets
Christmas Sack Appeal
Community
Food In School Holidays
Kitchen & Cafe
NHS Lincolnshire
Transform Lincoln
Vision Offering
Warm Welcome
Wellbeing Fund
Youth & Kids Fund
Totals
0
3,948
19,106
16,132
3,000
0
18,171
0
0
18,514
9,478
88,349		 9,160
13,645
6,467
15,228
0
79,754
13,466
15,992
46,000
31,409
19,220
250,341		 3063
9,905
20,646
25,574
0
79,451
29,464
4,386
46,000
41,621
24,447
284,561		 6,097
7,687
4,927
5,786
3,000
303
2171
11,606
0
8,301
4,240
54,129

10. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

One Trustee, David Wade has received a salary of approximately £26.8k during the 12 months for his role as church minister employed by the charity. He is not directly remunerated for this role as a Trustee of the charity.

No other Trustees received remuneration.

11. ADDITIONAL DISCLOSURES

This year the expense codes have been altered to improve the clarity of the financial information for future years. Ministry & Gifts had included many expenses such as Tech, Tech subscriptions, some Bank Fees and some Travel Expenses.

Project Costs has been introduced to code the costs which do not directly relate to ongoing activities at Bridge Church, they are the expenses directly incurred due to projects which are being funded.

Some of the Income and Expenses for last year have been moved between the codes to allow a direct comparison.

The £340 for FiSH expenses shown in brackets under unrestricted is due to a refund from Tesco which was not banked until April 2023.

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