Charity rngistration number 107908$ Company registrnllon numb•i 03853667 IEn9land and wa5} BRIDGES CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 •A(IXCQX4' 2211212023 COMPANIES HOUSE
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BRIDGES CENTRE CONTENTS Page Trustees. report Statement of Iwstees, SponsIbl'eS Independenl audrtorfs repNI 10- 12 Statemènt of finanL?al aclivitjes 13 Balance $heel 14 Statement of ¢ash Ilows 15 Noles to the ffinancol statements 16-31
BRIDGES CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual reF4yI and fnunaal statements for the year ended 31 March 2023. The fin8nual statements have been Prepared in aC¢x>Tdare with the aw)unts"ng policie5 sel out in note 1 lo the finanrial stalements and compty with the charty'5 governing d0Ment. the Companies Act 21J06 and "Accounting and Reporting by Chartties.. Statement of Recommended Practi( applicable to charrties prepanng their acc4)unls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)". Objoctiv•s and a¢tiviti•s Charrtable Obj•ctlv•s To promole for the benefft of t w)habitants of Monmouth and the nwghbouthood {the area of benefrt) without distinthon of gender. $exual orienlation, ¢olour. race or polttitsl religious or oiher opH)ions by associating thè inhabitants of the area of benèfft and tt)e local authorrlies. voluntary organisations and other oiganisations in a common effort to advan uc3"0n and to provide faulth'es in Ihè interest of soaal wèlfare for feueats'on and othèr leisure h.me (xxJJpab"on th the objèct of improving Ihè conditions of life of the inhabilants. 2. To establTrsh or secure the estsblishmenl of a communrty centre and tts mainlain and manage the same, whether alone or in ¢o-operab"on with the local athhority of other person. or bo¢ty in furtherance of these obpds. Aims and Activitie$ The trustèès have paid due regard to guidance i$5ued by the Chafity CommL85ion in decidN)g what adivilies the tharity should undertake for publir benefit. and aim to rnbal isolatton and to promote the general well-being of the people of Monrnouth5hire irrespective of age. gender and et bathgrtyjnd. by pwding 0 Safe, fn.end and supportwe environment for pU1C benefft which is-. the base kjr a numter of tharilies arbd self-help groups workirwj wrth vulnerable people of all ages a centre lor the community, a place lor people to meet and devekjp new skills and inleresls a seed bed from which new projects and Hleas can grow to rneet needs Klentffied in the community an affordable. ac(essible venue for souetses, dasses and dubs to promote social, artistic. physical and cultural actiwtses a provHer of opportunrties for employment. volunteering, trairirrfJ, educal¥)n and enterprise Who benefits from our aclfvities7 Bridges is based in a buikjing full of characler and continLoes to have a deep and wide reaching impact on lh8 people who volunteer here. on thosè who use its fao'liti'es and on the or9anisations and projects that arè based here. We make a drfference to the livès of more than 1,000 peop a week who are reached through the work we do across Monmouthshire and the affoidatle tsa"lities we provide at Orybridge House for. chanlies working with families. clder people, wjulls moblity problems and others who need a little extra 511PPOrt. communrty groups whth help people to leam and develop their skn"Ils, stay heafthy, be creative. socialise, and gain support. smal businesses, business stsrt-up$ and freelancer5- in¢luding Social ente[1$0$. voluntary. publi¢ and comme10} sedor organisalions who hirè rcrfjms for meelings, conferences ¢on¢erts. farnilies and friends who want to ffla shJnlfKrt points in ther lives through an evenl in one of our rooms. people who e1ve support through our Wèllbeing Servi¢es projects, indu(ling Community Conne¢tions Disability and Indusron teams aftd by So¢1 Cirdès Group. Tea D8n¢è and Lunch Club. SCKJ volunteers who are svpported by our volunteering for wellbeing scheme throughout the county and gain useful skills and experience. as well as comwionslip.
BRIDGES CENTRE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Many visitors lo Monmouth vtho wsit Drybridge House. wh.ch bs a 9Tade2' listed burfding. an important pari of Monfflouth's heritage. Ensuring we deliver our aims Our extemalty funded projecis are required to produce quarterfy reports slM)VA"tvJ their achievemenls using recogni5ed evaluati methods. They are also re$ponsilJle to steering group5 whith mT)nitor progress and 0de support. We encourage feefJba¢k on an infwmal ba5 from all our user groups arK1 encourage trustees lo develop links with partul8[ activities. How our actiwties deliver public benefit-. Many elderty. vulnerable and isolated people from acmss ihe whole county have beèn linked to a one•to one volunteer and are wsited or tdephone befn"ended through the Communrty Connections service. This helps to relieve isolat)n and offer practical support, for example wrth transport. and is wel recognised as a means lo improve health and Well"ng. An additional 28 der or eldety people benèfit by attending our So(aa Cirdes group. This gives regular land in rnany cases the only) opportunrty to meet others and have a cooked lunch. The average age of members is increa&ng and many havè pèrsonal care needs. and WÈ havè now employed a c ordinator for social orcles who a trained. experrenced tsrer. An additnal 3040 attend our monthly lunch club and aftÈmotsn tea club_ We conlinve lo seek new group opportunibes to help Ihe -young eklerw fo remain physically fil and develop social conlads. for example. adult ballet. yoga. table tenn45. fit4bfe and Nordic walkn'ng gioup5. whith ale cenlred at Bridges. The weekty Tea Dance has restarted aThJ is a welkaltended inlergerteralional actNity wovidpng light exercise and enjoyae sooal contact for everyone, indvding Ih05e with dementia. Thi5 is regulady attended by 32 adults and an addthonal 8 studenls th add"Onal needs from a local school. Over 300 young people wrth addilional needs are helped through our Disabilrty and Indusion proiecl to leam new skills, develop new frndshIpS and engage in their Trjmmunities. This iludeS people from age 6yrs to over 25yrs who have additional needs, kaming disabilities and autism. Volunteers ol all ages enjoy working wrth Bridges and gain useful skills and experience, as well a5 COMpannShIp. They gain a purpose of 'giviThJ something back", make new In'ends and leam r¥ skills. For younger volunteers this èxperience is also invaluable when looking lor empyMent. We now have 645 active volunteers working across Ihe ctyjnty all supported by our volunteering for wellbeing project. Our community car scheme t¢)nkn"nues to prov a Valuab seNce wtthin the community and helps those with mobslity or Iransport diffiujhies to attend appointments, shopkxng. hair appointments and social a¢ti¥ities. During 2022-23 the $dme made 1.757 joumeys and ¢uttently has 45 active volunteer diiveis. Maintainin9 our lTrsted buildiThJ 8$ 3 safe and pleasant en¥ironment provides tharities and slart uplsmall businèss ownèrs with an affoidable place lo base their organI10ns. It prowdes an ele9anl. affordable Setting for many fvndrt$ including weddings, parties. 0cert5 and funeral wake5, and a150 a location lor lo dub5 orgarusations to h¢Jld regular meets'ngs. A¢hievem¢nts and perfomwn¢* The Board ol Trustees has had several ¢hanges over the past year. In February 2022 the thair was taken tsver by an interim chair until February 2023 when a new chair wa5 appoinfed. We have also had three trustees resign due lo reasons of wtsrk pressufe and health problem5. Two new trustees have been appointed and a third is expe¢ted to join at thè AGM. This sho1 mainlain the number of Iwstees at 11. but we are still looking for a trustee with legal experierKe_ Ther• was anolher staff change with the appointrnenl ol * events and mathefrng officer in Au9Ltst 22. This supports the Centre dwector as ihe centre becomÈs buSr again.
BRIDGES CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 The tsvo prqect managèrs left our Èmployment during the year and WÈ have appointed a new WÈllbein9 Director (starting in October 20231 who will oversee all Ihe proiects and report direclly to the truslees. We also employ a part lime funding officer whose job is to look for and apply for available funding opportuniknes. Both pernent and casual hire ha retumed to pre-pandemic fevejs. Unfortunatèty, we have had to increase hire chafges due to rising heating G0515 arKI 5tsff ts. bul that ha$ not caused a drop in use of our kalities. Permanent hire looms are lulty lÈl. The Panlry is now managed in-house by employed staff. Unfortunatety. due to ihe currenl dNnate within the hospitality industry, rf is proving very difficutt to eM0Y catering slaff. We have managed lo keep the panlry open for limited hours and also provide swal orde$ lunches and the monthty hjnth dub, however, it has not been possible to pcovide calering for events. We are wffentty looking lo employ a new )k but are managing to keep the basic sèrvice ¥unning wth casual staff On limrted hcArt. The catèring is working at a ffinanual loss, but we continue lo keep rt wnnin9 to fijffil a swal need. The Monmoulh shop has beèn open seven days per week apart froln a short lime when we were short $18ffÈd. The new shop rnanager has been off sick for over six months fhis year, so we have needed to employ tsvo part 'rne assislanl rnanager5. They are working well together and svpporb.ng Ihe volunleers who have had a difficult lirne wAh staff changes over the past 12 monlhs Donations are still coming regularfy and the shop ha5 shown a sustained profit with a net surplu5 of £23.000 in the last financial year. This is on the previous year but rèflects Ihe increase in salaries due to sithness and employing staff to cover. The ced¥ tw within the grounds, whith was thntifd as diseased, was felled at the beginning of March, unfortunately we had to meèt thè whole cosl. We raised fvnds speufuly lo calve a 5Gulplure from th8 remaining tiunk. depicting kJ¢al flora fa8. Thi8 has been extremety well received by the communrty and has had far reaching press coverage. We held a very successful Coronation celebration with flding from Monmouth Town Counal.. this induded free refreshments. a loca brass band and The Lord Lieutenant un¥eiliThJ the Royal Ciphers on the tree sculpture. Weddings income has recovered SW post pandem. There have been sèvèn btrtjked during the year with another five booked in the next few months. have been ¢eremony and riK)m hire (M)ty as our (alering stsff have nol been ablè to support large events. Social circles have g(N)e from Stn9th to 5trenglh numbers to Ixpauty on both Tuesdays and Thursdays. The new CO•Ofdinalor ha5 increased the range of aclivities and has reClted an excellenl team ol volunteer5. The serv£ has received continuing funding from MCC and in addition we have had several one-off funds from 8 Variety of sources and donalion5. The tea dance, lunch dub and aftemom tea dub a nthv lundioning as before the dosure. due to Covid, with increasing numbers. 40 people fegulady tx)me to Ihe monthly aftemoon tea dub and 30 to the lun¢h dub. The Community Connection5. our belriending project, contr'nues to fUnCtn well across the county. This year in Ihe Chepstow area, 60 benefKiaries have been supported by 32 volunteers,. in Abèrgavenny 42 by 21 volunteers and in MonmoLth area 47 benefick4rie5 have been visited by 50 befvienders (this indude$ one ben¢fi¢iary who is supported by 2 Volunteers and one married who volunteer togéthei). Social group5 have ccffjb.nued lo thrive so several benefries get Ihw"r supwt in these groups across the county. The car scheme receives funding from ICF and from the heallh authorrty for dementia Iran5POrt. rt ha5 conlinugd lo provide a Muc1neede(l seN¢e. In 2022-2023 the number of volunteer ¢Jri¥ers ha$ in¢rea$ed to 45 wth 891 passengers. having a total of 1,757 journeys. In addition thè car scheme ha5 been restarted in Blaenau Gwenl providing support lo 109 registerad passengers wAh 7 vdunleer drivers.
BRIDGES CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Following the purchase ol a second electric vehK in June 2021 the number of purneys usiThJ the tsvo ¥ehidÈs has si9nifi¢andy increased fdlwng trainin9 the thi¥er5 the use of the vehicjes and assi51ing wheelchair u5er5. Volunteering for wellbeing havè ¢(M)linued wrth a d¢grtal means of recruiting and keeping touch wilh and supporting voluntÈÈrs. which has pra¥èd very successfvl_ The number of volunteers recruited and supported in Ihe scheme acr055 the Cybunty is approximatety 4CQ. The Disability and Induwon Scheme incorpofate$ Building Bridges. Quest Buslers and Monmouthshire Peoplè First. BLtilding Bfidges focuses on 1 25 yr olds wth addrtnal needs., Quest Busters works with 6-17 yr olds with additional needs and their families, and Monmouthshire People Firsl supports and is led by 18yrs plus with learning disabilities. Aciivities have gradualty relumed to nc¥mal over the past year. Building Brmlges supports 68 beneficAafies across the county. Activities throughout Ihe year have Induded several theatre trips, shopping th"ps. meals out, picnics, bushcraft monthly cooking, eto Monmouthshire People Firsl have three groups supporting 41 b9n¢fioari¢$ and have had a very actNe and varied programme of ath"vrbes Iruding Gwent Wildlife Trust. Raglan Camp and cooking projects, where membèrs leam how lo cook various dishes for themselves. The Family Support SeM( promdes SUFV)rt, advice and guidan kn d)qdren. youn9 peop and parentslcarers who have. or are involved th. peopl¢ who have autist terKlencies. Core funding 15 in 3¢e lor all four D&1 projects. this indudes Ihe grani from the Lottery for QB 1£100k} and continuation funding lor Building Bridges IRIF £109kl. People First {Monmouth5hire Council. £21k} and the new Farnily Support Service Imonmovthshire Counryl. £29kl. We expect all Ihis funding lo remain in place until March 2024 and the maionty 15 ongryng will continue aftei Ihal. A number ol small grants were awarded over the year to provide additional funding for actiwlie5 and events for the four proiecls. Fundraising We do not employ a professional furwjraiser.. al our fundraising is O)ne intemally by staff and volunteers. Fundraisin9 actltIeS have en slow to pl up after ihe neMS¢. We have just re-established the fundraising committee and hope to produce more events in Ihe future. have had Fashion show with the Male voice choir and a winè and cheese evening For the rerna1nd of the year we have Cabafel & Bingo evenings booked in November." D¢cembec sees Breaklast with Santa and a sh¥ed Chri51nws party night. are also planning Murder Mystery and race night in the earty part of 2024. are conlinualty looking for new ways lo i[eaSe are wicome stream so as to become les$ dependenl on large grants. Financial review The Larity has amAie(l ils fijnds for the year in the furtherance of rfs cknjecbves. The lotsl nel out90ing reswr¢8$ for the year ended 31 March 2023 amounted to £7.230 12022.. net outgoiThJ £69.555). The charrty made an unrestrKted defiril of £2.544 {2022'. surplus of £32.715) after transfer ol fvnds. The net assets of the charity (IndLHling Fixed Assets, Reslricted Funds and Reserves) at 31 March 2023 have decreased to £642,810 from £650,040 as at 31 March 2022. The unresfricled fLS cornprise £300,401 12022.. £302.9451. Restri¢d fvn(ts are £342,409 (2022.. £347,095). The restricted funds a hekj for the purposes noted in note 18. In the present ffinancial dimate, it has become increagngty difficull to raise funds. and grants ale beeoming fewer and MO compelrtwe. We therelore are l(K)kry lo devekjp reliable. dw5e ant1 sustainable iwme $our¢e$. Thanks must go lo our Bugness Director. Alen AtkSOn and all staff and volunteers for their hard work in maintaining bolh our unre51rided Inrne and successfrj g(ant appli(5.
BRIDGES CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 R•$or40s Poli¢y The Board of Trustees has recommended thal Bridges should aim lo mainlain $uffiuent unrestridèd reserves lo cover unexpe¢ted eosts of repair to our gfade2" li5te(I building. and a150 to V1 costs ol business dèvelopment. They recoThvnend 3 minimum of £50.000. As at March 2023 our unles1rted reseThe is £300.401, £162.378 of this has already been sel aside as designaled funds for our projects and £12.101 is held in fixed assets. leaving £125,922. Investment Policy Biidges operales several bank accounts in order to ensure accessibility to fuThJs whilst ieceiwng maximum interest possible. No st¢xs or shares are hehj. Rlsk Management The Drybridge House lease twm period is feduong and this win affed our ability lo appfy for new grants and overhead Contributions. Discussions wrth MonwnoulhshiiÈ County Counryl are mothng 1oMard', we now have received a valuatson of the buildin9 and a dear steer to submrt an exwession of inleresl in Communty Asset TransferlCATI. ajor unexpèctèd r•pairs and maintènance The building Committee meets regularty to prtorth.se spending on repasrs and sers a Iwdget for general redecorats'on. There are fepairs needed to Ihe oulSK1e of the listed txjilding. for example old rusted, leaking gutterin9 and wirKlow frames and sill$. The ce(Jar te wrthin the wnt1s vthK was idertified as thseased. wa5 fened ai the beginning of MaTth. unfortunately we had lo meet the whole wst for felling Ihe tree but rasse(I separate fvnds for the [VIng In partnership with Monmoulhshire cnty Council. Bridges was successful in its applcation to the Circular Economy fund lor building improvements. £15.(KIO has been applied to iepair the 11oor to an unusabbe room within the listed building. The wort was carried oul in 2021 and the room is now occupied by "The Library of Things" IBenthygl, a sucressfvl Wale5•wth project that ndS items out to those with limited income, and lo reduce landfill. A further £5,tKJO is still available to re-fft the second kitchen and we are applying for furfher fvsndin9 to cover Ihe inuèasing cost. This will then be offered out for commeraal rent and for communty projecls to prowde training in S115tainable cookery and cooking on a budgel. Unforlunately. getting surtatle de5ign5 and quotation5 is proving difficult, 50 this projecl has not yet been slarte(l. but it is hoped to be coMeted wiihin the nexi six months. Plans for th• future The Monmouth shop continues to show sustainae in¢ome and we a keen to increase online selling lo furthgr improve rev•nue. The current leasè is now not due to ewrè until 2028. Wè received a 9ranl of £10,¢XX) to iÈ-dèsign our websrte in 2021. This has sb"Il rK)l yet been donè in light of more pressing matters. Ou¥ Event¥ and Marketing Officer is looking at this as a top priority and hopes Ihal the web51te will be launched shoruy. This will become an inclusive plarfoNn lo communicate clearly and conasely all the fvnctions and serwces our organisabon has lo offer. We antiupale this improved online presence will assist in promoting our organisation to the wider communty. The Events and Marketsng Officer will, in addition, be focussing on increasing revenue from Weddings and evenis whth will strengihen our income position. Imth the employmènt of the nèw Wellbeing thredor. we are hoping to Whlen the s¢opè of acbwties prOvd parlicularty to include services for people livin9 Wth dements. Discussions have commenced with Monmoulh5hire County CounrAI lo renew our lease and lo o)nsider options for an asset transfer. An expression of interest is bery prepared, Amhough we have rewrfed thrèe new trustees recentty. we are stil lookn.ng for more trustee volunteers. We are particularty lacking a ITuslee with legal experience.
BRIDGES CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 StNctur•. govornanc• and management Bridges Centre is a charitable o)rryany limited by guarantee wlNch was incorporated on 5 October 1999 bul lay dormant until 1 February 2(MJO and is govemed under rts Memorarthm and Artide$ ofAssociatitsn {revised June 20161. Trustee Dirnctors The trustee directors are appointed by the Bo¥d of Ttees, lo a lMuM membership of 18. They serve for duration of three years but can be re-elected for te8 periods of ttwee years. All trustees give their lime voluntarily and [e1Ve no benefrts from the charty. In an effort lo maintsin a broad s.11 mix afflong Board members. Ihey are Tequi to kYovit1e a list of their skil$ and every effort Is made lo fill any gaps in exFerb"5e wn appointiNJ new Iruslee5. New truslee5 are encoufa9ed to join one or more ol ihe committees to tsmiliarize Ihemsefves Wilh the organisaiion and are provKled wrth a copy of the Artsdes 3ntl Memorandum together with Ihe lalest financial report and ouuine of trustee thJb"e5. They are expecled lo attend quarterfy Bowd MeetiThJs in addith)n to the AGM. a5 well a5 training and strategy y5 a5 arranged. Commlttees The Board is supported by six committees each wilh ts own terms of reference. The thair of each committee is also a trustee, and al member5 other the Business Oireclor are volunteers. The committees and their . spectIve chairs arè.. Wellbeing no current Finance Geoff Quinn Building Robin Gibson Personnel mawatton Youth Haydn CullejS Fundraising Ben Ford Managornent The Centre Diredor has ove11 responsibilrty for the Centie. induding IxJildin9, stsff, gvents, lundraising, sxojècts, et¢. In support of the Centrè Diredor. we have fdhJwMig sènior slalTr. Finance OffKer- Responsible for finance Facilrties Manager- Re5pon5ible for upkeep olhouse the caretakn.ng tearn HR Offi¢er- Responsibte for all personnel requirements Events and Marketing offr- Respon&ble for website and promoliwwJ events. catering weddings etc. (fhis is a new position, startedAugust 2022) This group meet regularty and ful staff meelin9s are hekl warterly. We have just appoinled a Wellbeing Dire¢lor (sta"n9 Odober 2023) who will have overal responsibility for all the wellbèing projects - Community connedion5. ¢ar schème, Disakn"lty and IndusTrc•n arvj Volunteering ft>r Welbeing. The Director is supported by a part-tsme fvnding ofrer and part-lirne ffinaneè officer. Key management personnel salaries are set on a u)st anaty5is bays. taking into account sedor average5 and Ihè responsibility tsf eath ro.
BRIDGES CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 R¢fer•n¢• and admini$tralive details Charity naffle BrKlw Centre Chality number 1079)85 Company numkr 3853667 Reglster•d offic• BrYges Centre Lkybridge Park Wonastow Road Monmouth NP25 SAS Tru$ts¢$ Haydn Cullen-Jones Chair appc¥nted Feb 2023 Geoff Quinn- Treasurer Ann Rosser- Interim Chair untl Feb 2023 RO"n Gibwi Jane Duke Mark Walton Jane Gunler Emma Baker- regned March 2023 Catrin Maby Caroline Haryaden- resigned Nov 2022 Royer Hry3ir6- apwinted May 2023 Christian de Sifva- resigned Feb 2023 Yvonne Turner- appoinled May 2023 Secretary Ann Rosw- apwnted F8b 2023 Senior managem•nt t•am leen Al(M)son. C•ntre Director Laura M(¥gan- Finance Officer Mark Jones- Faali1 Manager Amy McDovgall- HR Officèr Ben For& Events and Mareting Officer Mike Logan- Wellbeing D1clOr slarting Oct 2023 Rhk8n Halhaway- Funding Olficer Matt Vasquez-Hdlan¢J- Shop Manager Audltors AzelsAudrt Services Ty Derw. Lime Tree Court Card5ff Gate 8u5iness Park rdrfF CF23 8AB 8ank•rs HSBC Bank Pk 12 Agincourt Square NP25 30Y
BRIDGES CENTRE TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Solicitors Stone Kwig LLP 13 Queen Squa Bath BA1 2HJ trust. app ed by the Board of Trustèas. nc Ilen
BRIDGES CENTRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AIARCH 2023 The truslees, who are also Ihe direclor5 of Bridges Cere for the purpose of company law, are responsible foi preparing Ihe Trustees. Report and the finanoal statements in accordance with applKable law and United Kingdom Accounting Slandards Iunrted Kingdom Generalty Accepted Accounting Praclice). Company Law requires the tru$tse$ to prewe finanoal statements fN each finanoal year which give a true and fair of thè slate of affairs of Ihe charity and of the incoming resour¢e5 and applicati¢)n of resource5, in¢ludin9 the income and expenditure. ofthe charitaiAe company for that year. In preparrng these financial statements. the trustees are reqred to: - select suitable accounting policies and then appty thern Consten.. . . observe the methods and prinL?ples in the Chanties SORP., - make judgements and esb"mate$ that are reasonable and prudenl" and - prepare the ffinancial stslements on the going ¢onc*m basL8 unless il 15 appropriate lo presume th81 the charity will ¢onlinue in operab"on. The Iruslees are responsible for keeping adequate accounling records thal disd05e with reasonable accuracy at any lime the ffinan¢ial position of the chanty and enable them to ensure that the financsal slatements cornply with the Companie5 Act 2006. They are also responsibje for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe preventK)n and delection of fraud and other irre9Ldaniies. The trustees are responsible for the maintenance and inlegrity of the chatty and ffinan¢ial infomiation induded on the charty's websrtè. Le9islation in the Unrted Kingdom 90MIng the preparath.on and dissemination of financial ststemènts may differ from legislation in olher iurisdi(Jions.
BRIDGES CENTRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRIDGES CENTRE Opinion We have audited the financial staternents of Bridge5 Cenlre Ilhe '(arty') for the year ended 31 Marth 2023 which comprise the slaternent of finanual activrties, Ihe balan sheet, Ihe statement of cash fl¢)ws and the notes lo Ihe financial statements. induding a summary of significant accounting pc41CS. The financial repcb"ng framework thal has been applied in their preparation is appliCae law and United 'ngdoM Accounting Standards. induding Financial Reporting Siandard 102 Tho Financial R6portffng Standard applKable in the UK and Republic of Ireland (Uniled Kingdom Generally ACpted Accounw Plac11. In our opinion, the fin3n¢k11 Stslemènts- gwe a true and fair view of the state of the thaTrt3blè companrfs affairs as al 31 March 2023 and of incoming resources and applicatK>n of resources, for the year then ended. have been properfy prepared in CordanCe wilh Uniled Kingdom Generaly Accepted Accounting Practu,. and have been prepared in 8tttydan¢e with the requiremerts oflhe CompaniesAct 2rTh. Ba$is for opinSon We conducted our audil in accordance wrth Intemational Standard5 on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilitvès under Ihose standard5 are fvrther described in the Audilorfs respon&ts"hh"es for the audit of the financial slatefflents section of Qui report We are independent of the tharity in accordance with the ethical requirernen15 that are relevant lo our audrt of Ihe finanaal statements in the UK. includirg the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilit in accordance wth Ihe5e Tequiremenls. We believe Ihal the audit evKlence we have obtaNd is sufficient and appropriate to provide a basis for our opinion. Conclusions relatSng to going concern In auditing the financial statements, we have conchjded that the trustees. use of the goin9 concem basis of accounting in the preparation of the ffinancjal slalernent5 is appr¢¥riate. Based on the work we have perfOed, we have not idenlified any material uncertainlies relats'ng to events or ndrtrons that, individually or CO1Clety. may casl snIfican1 doubt on the chantys abilrty to continue as a going concem for a period of at ieasl efve ffnths from when the financial statements are aulhorised for issue. Our responsibilities and the responsits'liti'es of ihe Iruslees wilh resi)èct to going concem are described in the relevant sections ol this ieport. Oth•r infomiauon The other information comprises the informalion dded in the annual report oiher than Ihe financAal slalements and our audito¢s report Ihereon. The irustees ale responsible for the other infomation coniained wrthin the annual report. Our opinion on the financial stalements does not cover the other infom)atson and we do not express any form of assurance condusion thereon. Our responsibilty is to read the other infomation and, doing so, c¢)nsder whether the other inforniation is materially inconsistent Ihe finan(ial statèments or our knowkdge obtained in the course ol the audit, or othe1$8 appeats lo be materialty mi5Stated. 11 we identfy Such matenal inwnsistenoes or apparent matèrial misstatemènts. we arè required to determine whelher this gives rise to a material misstaiement in the finanryal 51ements themselve5. If. based on Ihe work we have perforrned. we condude that there is mattrriaj misstatement of Ihis olher informabon. we are rwired to Kt that facl. Ve have nothing lo report in this regard. Matters on vthlch we are requirnd to report ty exception We have nothing lo report in respect of the following rnatters in rejalion to which the Charitie5 (AcrUnt$ and Reports) Regulations 2008 require us lo report to you if. in our opinion". the infoTmalK)n given in the finanryal stsleThwls inconsistent in any malerial respect the InJstee$' report. or suffiuent accounting recoids have not been kept." or the finanual statements are Th)t in agement ¥th the accounting records." or we have not receNed all Ihe informatson and eXanatiOnS we require for our audit. 10-
BRIDGES CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUED TO THE TRUSTEES OF 8RIDGES CENTRE Responsibiliti•$ ol trustees As explained more fully in the statemeffl of trusiees. reSpOnslI1&eS, the ITUStee5. who are a150 Ihe dwectors of the charity for Ihe purpose of company law, are responsible for the preparation of the financial slatemenls and fw bng satisfied Ihat they give a true and fair view, and for suc intemal control as the trustees deterniine is necèssary to enable the preparation of finanaal statements that are free from material misstalement, whether due lo fraud or error. In preparing Ihe financial Statements, the Irustees are Tesponsib for a$s1ng the ¢harity'$ ability lo continue as a going eoncèm. disdosing. as awuble, matters rtlalÈd to going ojncem and using the gryng concem basis ol aCuntIng unless the trustees eithef intend to IKJuidate Ihe charrtabk company or to cease opwab"ons. or have no realtstic allernative bul to do $0. Auditorfs responslblliti•s for th• audit of th• financial statemènts We have been appoinled as auditor Under section 144 of the Charrties Acl 2011 and rewl in accordancé with Ihe Ad and relevant regulations made or having effed thereunder. Our objectives are lo obtain reasonable assurance ab(yJl whèther the financial statements as a wholè awe free from material misstatement. whethèr due lo fraud or error, and to issue an audrtofs report that includes our opinion. Reasonable assuran¢e is a high level of assurance trwjl 1$ nol a guarantee that an audrt conducted In accordance with ISAS IUKI will aayS dètecl a material misstatement when it exists. Misstatements arise Irorn fraud or èrror and are consideteil matèrial rf. individualty in the a9gregate. Ihey could réastsnabty be expe¢ted to inlluence the economic decision5 01 usets taken on the basis of thèse naè1 Statements. A further desciytion of our Tesponsibth'lies is avaable on ihe FinarKial Reporting Counal's websit& ". hitps.'Il v4v.frC.oIg.uJaUd1torSrespOTrsIts.IrtIes. This desrJiplion forms part of OUT avditorf5 report. Extènt to whi¢h the audit was c(•nsid•r•d capabk of dthting irregularities. including fraud Irregularities, induding fraud. arÈ instan$ tsf non-compliance wilh laws and règulations. Vve design procedures in line with our re5pon5ibilities. ovtlined above and on the Finanrial Reporting Counril'5 web5rte. lo delect material misslalemenls in fe5pect of irregularities, inclvdin9 fraud. We obtain and update our understanding of Ihe entrty. rts activrties. its control enwronment, and likety future developments. including in relation lo the legal and regulalory framework applKable and how the entity bs complying with thal framework. 8ased on Ihis underslandirKJ, we idenbfy and assess Ihe risks of material misstatemenl of th• ffinancial stalements, whether due to fraud or erTor, design and perfom) audrt pr¢xedures responsNe to those risks, and obtain audit evidence that is sufficient and appropriale to prOe a basts for Ouf opinion. This includes consideration ol the risk of ads by thè entity that were contrary lo applicable laws and regulations, induding fraud. In response to the risk of irwulanb.es and non-cx>mplrance wrth laws and iegulations. inc1lIng frawl. we designed procedvrè$ which included- Enquiry of management and those carged with go¥emance around actual and potential litlgation and daims as wdl as actual, suspected and alleged fraud". Reviewtng rninutes of meetings of Ihosè charged th 9overnance, Assessing Ihe extent of ¢omplianr wth the laws and regulation$ c*nser¢d to have a difed material èffect on Ihe financial slatemenls or the operalKtrn5 of the enbty through enquiry and inspe¢Aion.' Reviewing finanaal statement disc105uie5 arKI lesting to $ports.ng documentation to assess Complianc wrth applicable laws and regulalions.. Perfomiing audrt work over the risk of management bias and override ol controls, including tesling of journal entries and other a¢Jjustm¢nls for appropriateness. ¢valuab"n9 th& bu$ine$s rats"onale of signifan1 transactions OLttside the normal course of busines5 and wewin9 acuuntsng e51imales for indatOrS of potential bias. Becaus8 01 the inherent limitations of an audit. there 1$ a risk that ¥Ye VAI not detect am irnegtslaritie$. rncluding those leailing to a malefial rnisslalement ifi thè finanryal stslemertts of ntsn-compliance with regulation. This risk inueases the more that comph'ance with a law or regulab.on is removed from the even15 and Iran5ac¢ions reflecled in the financial slatements, as we will be less hkely to become aware of inslances of non-compliance. The fisk of not dete¢tiny a malerial mi551alement resu.9 from fraud 15 hvjher than lor one Sum1n9 from ertor, a5 fraud may involve collus, forgery. intentional omissions. misrepresentalion5. or Ihe override of inlemal control. 11
BRIDGES CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGES CENTRE U$• of our report This report is made solely to Ihe chari$ trustees. as a body, in accordan¢e with pari 4 of the Charities (A¢¢ounts and Reports) Regulations 2008. Our audit ¥¥ork has been undertaken so th we might state to Ihe charity's truslees those matters we are required to stste to them in an auditorf$ report and for other PUTpo$e. To thè fullest ext¢nl pemrtted by law, we do not actspt or assume responsibilty to anyone other than the charty and the ¢hafity's trustees as a body, for oaurt wo>, for this rewrt. or frthe opinions we have fom)ed. Azets Audlt Servlces Chartered Aceountsnts Statutory Audltor Ty De, Lime Tree Court Cardtff Gate Busintrss Pa Cardrfl United Kinwjom CF23 8AB zets Audit Serwces is eligitjle for appointment as audrlor of the chanty by vinue of its eligibrfty for apw"ntmenl as audiior of a company undec section 1212 of the Compan$ A¢t 20. 12-
BRIDGES CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds fvnd$ 2023 2023 Totsl Unrestricted Re$trict•d fund$ lunds 2022 2022 Total 2023 2022 Motes nd endowments frnm: Donat40n$ and legacies Charitable activrfies Other trading activities Investments Other income 26,610 319,548 26.610 1.117,736 14.494 272,384 4.337 670.360 18,831 942.744 798,188 68,476 2.257 5.108 68,476 2,257 5.108 35,728 430 4.119 35.728 430 4.119 Total income 421.999 798.188 1.220.187 327.155 674.697 1.001.852 endlture on: Charitable aclivities 782.753 1.227.417 289.597 781.538 1,071.135 Other 12 272 272 Total •xp•nditure 444,664 782,753 1.227,417 289,869 781,538 1,071.407 Net loutgoingllincoming r•sourcès b*lore transf•vs 122.6651 15.435 17,230) 37.286 I1,841) 169,555) Gross transfers between ftjnds 20,121 {20.121) (4.571) 4,571 Net expenditure for th? yèail Net movemenl in funds (2,5441 (4.686) {7.230) 32.715 {102,270} 169.555) Fund balances at 1 Apr 2022 302.945 347,095 650.040 270.230 449,365 719,595 Fund balances at 31 March 2023 3,401 342.409 642.810 302,945 347,095 650,040 The stalernent of finarKxal acliw"ts"e$ indudes al gaffjs and1055es reniSed in the year. Al income and expenditure derive from cOnb"nu9 aclivibes. The stalement of finanual adivilie5 also COrnFAies with the requirernen15 fw an income and exPerlIu{e account under the Companies Act 2006. 13-
BRIDGES CENTRE BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Notes Fix•d assèts Tangle assels 14 180.529 259.568 Curr•nt assets Stocks Deblois Cash at bank and in hand 15 16 3.323 41.Y)8 516,413 25,012 441,780 561.644 .592 Cr•ditors: amounts falling within onè yèar 17 (99.363) 178.140) Nel current a$$ets 462.281 390.452 T¢)tsl assets less currÈnt liabilities 642.810 650,040 Income funds Reslricted funds nrestrided funds Designated fvnds General unrestricled fvnds 342.409 347.095 19 162.378 138.023 142.958 159.987 31XJ.401 302,94S 642.810 650,040 The Company is entitled to the exempts.on from the audrt requirement ¢ontained in section 477 ofthe Companies Act 2006. for the year ended 31 March 2023. athough an audrt has been ¢aNied out under section 144 of Ihe Charities Act 2011. The direthrs a¢krwWgè theK responsily"kb"es for comptying with the requirernenls of Ihe Companies Ad 2LI)S with respect lo accounbng record5 and the pparatiOn offirnal statements. The rnembers have not reqred the company to obtain an audil of its finanaal seMentS under the requirements of ihe Companies Act 2006. for the year in question in accordance with secon 476. These financial statemenls have been prepared in accordance wth the provi$KJns applicable lo companies subject lo the Small companies regime. II.!1-10¥1 The financial statements were approved by the Tnbstees on .... Geoff Qulnn- TN$t•• Company Registration No. 113853667 14-
BRIDGES CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 rAyh flow¥ from opernting activilies Cash gènerated fiom operab.ons 72.375 8,412 Investing activities Purchase of tangible fixed assets Proceeds from disp0581 of18ngible fixed a55e15 Investmenl InMe received (16.7401 417 430 2.257 Net cash geneTrted Iron(used inl investing activities 2.257 115,893) Nèt cash us•d in financlng actlvlti•s Net in¢rea$Èlld¢¢reasel In cash and r•$h equivalents 74.632 {7,481) Cash and cash equivalents at bei¥nning ol year 441.780 449.261 C•$h and cash •quiv#l¢nts at ènd ofyear 516.413 441,780 15-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢counting poli¢les Charity Inlonnalion Bridgès Centre 15 a private company limrted by yuaranlee In1pTrted in EngLand and Wales. The regislere(I ffice 1$ Wge5 Centre. DrybrKlge Park. Mtsnmouth NP25 SAS 1.1 A¢¢ounting convention The finanryal statements tove been ppared in aco)rd3nr wilh the Charity's goveming documeni. Ihe Companies Act 2006 and "Accoun)"ng and Reporting by charitS.. Statement of Recommended Practi appli¢able to Charit$ preparing thwr accovnt5 in accordance with the Financ¢al Reports'ng Standard applicable in the UK and Republic of Irelarhd IFRS 1021 (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterfing, whth is the functional cwrency of the d)aiKty. Mon•tary amounts in these financial statements are rounded to Ihe nearest £. The financ1 statements have been wepared under the hiskn"c¥ ¢o$l ¢onvsnlion. The principal a¢untIng policies adopted are set oul below. 1.2 Going concorn At the timè of apwowng the financial statements, thè InJstÈÈs havÈ a rèasonable expectation that the tharty has adequate resources to continuè in operational exi5ten(% ftsr thè fofesèeable fulurè. Thus Ihe trustees conts'nue to adopt the goin9 con¢¢m basis ol a¢¢ounb"ng in prepanr4J Ihe financial $t•lemenls. 1.3 charitab fundg Unrestricted funds are available for use at the disuelion of th• trustees in furtheran of their charitable objectives. Designated funds cA)mw"se whth have been set asJe at the dts¢relion of Ihe twslees for specific purposes. The purpose5 and use5 of the deSnated fvnds are set t in Ihe notes to the financial ststemenls. Restricteij fun¢Js a Subject to speofic w7dth.ons by as lo how tr*y Y be used. The purposes and uses of the restn"¢ted funds a set out in the notes lo the firwiryal statements. 1.4 Incoming v•srwrc•s Inwme is recognised when the thanty is legalty entrfed to il after any perfonnance conditions have been met. the amounts can be measured rella1y, and rt is probablè that income will be received. Cash donations are recogniseil on reipl. Other donations are reCgniSed once Ihe charity has been notif of the dr)nation, unless performance conditions Tequire deferral of the amounl. Income lax recoverable in relation lo donalions received under &ftAid or deeds of covenant is recognised al the tirne of thè donatw)n. Income from grants is rewnised when the ¢harity has entrtlemenl to fvnds. arry perfomance conditions attached lo the gfants ha been mel. it is probable that the income wdl be Teceived and the amount can be measured reliabty and is not deferred. Grants r•¢wvable for the speufic purpose of PLa51n9 fixed 85set5 for the continu$d u$& ol the tharity are trealed as rèstrictèd funds. The rèstricttd fund is then reduced by amounts equivalent to the deprwation charges on the 45sels concemed and w411 ¢onb"nue to do so over the expected useful ljves of the assets cMcerned. Incorne from charilable actiV"eS and trathng income is recognised in the period to which the servicè r¢lales with any anwjunts received in advance beiry defefred. Brstro, shop and bar sales are recognised at the date ol sale. 16-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollei•s {Continudl No amounts are induded in the financial statements for semces and time donated by volunteers. Interest on funds is included when receivable and the amount can be rneasUd Teliabty by the chaiity.. this 1$ normally upon notsfjcation of the interest paid or payable by the bank. 1.5 A0r¢e5 expended Expenditure s recognised once there is a gal or ttJn5trucaNe obli9aii¢)n to make a payment to a ihird party, it is pfobable Ihal seluemenl 11 be required and the arnount of the obkngat Cart be measured reliabty. Expenditure is classified under the folbwing actmty headings.. Costs of raisiNJ funds wnprise the costs in Telab"on to generating incomè s( as fundraising evènts. Expenditufe on charItae actmbes indudes all (x)sls relab.ng lo Ihe fvrtherancè of the ¢ty'S obJe¢tives as stated in the tnJ$tees report Irrecoverable VAT 1$ charged as a cost ayainsl the aclmty for which the expendrtwe wa$ incurred. Costs where possible are attributed directy to the acliwty in which they relatè. Where costs cannot be directly attributed to particular headings thèy have been aMo¢ated to acl1vitS on a basis consistent wrth thè" use of the resources. Support costs are those fvndions that assist work of the chanty but do not direcxly undertake charitable aclivilies. Govemance costs compnse am costs invofving publTrc accountablty of Ihe charily and its comlSnCe wth regulalion and good practice. 1.6 Tangib f•xed agsets Tangiblè fixed assets are initially measured at cost and subsequently measured at cost or Valuatn, nel of depreciation and any impairment k>sses. Depreciation is recognised so as to wrtte off the (y)st or waluatKJn of assets less their residual values over their useful lives on the fdlowing bases". Leasehokj land and trIdIngS Dèprecratlon 15 prOd*d to wrtte off the ¢osi tsl the assets over the remaining life of the lease. uJrTently 5 yeaTs 25% reduung balancè method 20% reducin9 balance method Fixtures ar ffttings Molof vehides The gain or loss arisin9 on the disposal of an asset is determined as the difference beeeTh the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activrties. 1.7 Impaimient of fixed assets At each reporting end date. the tharity reewS Ihe carrying amounts of its taThJible assets to determine whether there is any indication thal those asse15 have suffered an impairment kjss. If any such indicatson exists, thè rècoverable amount of the asset is estimated in ordèr lo detem7ine the extenl of thè impairnient loss Irf any). 1.8 Stocks Bar stock 1$ $tated at the hjwef of cost and net realisable Vae. Net realisable value is the estvnaled selling 17-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting polSci8S (Continued) 1.9 Cash and cash eqvlvalents Cash and cash equivalenls inchAe cash in hand. deposits held at call wth banks. othei short-term liquid investments wilh original maturities of three Mrffbt or kss. WHI barfft overdrafls. Bank overdrafts are shown wrthin borrowings in currenl liabilities. 1.10 Flnanclal Instrumet The charity has elected to appty the pfowwons of Section 11 'Basic Financd Instruments, and Secb'on 12 'Other Financial Instrumentslssues. of FRS 102 to all of its financial instruments. Finanaal instruments are COgnised in the ChS baance sheet when the charity becomes party to Ihe contractual provisions of the instrument. Basi¢ finanrialassets Basic financial assets, whKh KK4ude deb(0 aThJ cash and bank balances. are inlialty measured at transaction price including transaction costs and are subsequentty carried at amorts'sed cost using the effective Interest method Un$S the arrangement (x)nstrtutes a financing transaction. where thè transaclion is measured at the present value ol the fvtUTe recwpls discounted at a market cate of interest. Financial assets classified as recewablè one year ale not amorttsed. Dèr¢cognitson of fiftaneial assets Financial assets are derecognised onty when the contractual lights to the cash flows from the asset expire OT are settled, or when the chanty transfers the finanual asset and substantsally all the risks and rewards of ownership to another entity, oc if some signfficant risks and rewards of ownership are taIned but control of the assèt has transfèrred to anolher paty ihat is able to sell Ihe asset in its entirety to an unrelated ihird party. Basi¢ finan¢ial Ilabilities Basic financkal liabilities, including creditors and bank loan$ are initially recognised at transaciion price unless the arrangem8nt constitLrtes a financing transaclion. where thè debt instrument is measured at the present vue of the future payments discounted at a market rate of interest. Finanaal habilrties dassified as payable within one year are not amrbsed. Debt instruments we Subsequent camed at amtised cost. usry the ÈffedNe interest rate method. Trade ¢dItOrS are obltil)n$ to pay for good$ Of SeCeS that have been aulre¢ in the ordinary Urse of operton5 from suppliers. Amounts payablè are dassthed as curTenl liabilib.es rf payment 1$ due within one yèar or lèss. If not. thèy are prèsèntÈd as non-rrent 11a"1"es. Trade credrttsrs arè rÈcognisèd initsally at 1ransacb.on prKe and svbsequenlty measured al amortised cosl us¥w the effectNe interest method. Derecognition of financialliabilities Financial liabilities a dere¢o9nised ¥&then the ¢harity's cOntrtUal (t•ligalion5 expe crt are dts<J)ar9ed or anceled. 1.11 Taxation As a fegislerèd charty, eridw Ctntre is entled to the exemplion from laxab'on in re5ped of income 8nd ¢8pilal gains received wrth sectn$ 478489 of the Corporation Tax Act 2010 and sect*)n 256 of the Taxation ol Chargeable Gains Act 1992 to the extenl that these are applted to its charitabbe objects purpose5 only. 1.12 Employee bèneffts The cost of any unused holiday entiilement ts reco9ntsed in the penod in whth the empbyee's $ervi¢e$ are ceived. Terninalion benefits are reco9nised immedialety as an expense when the chanty 15 dernonslrabty c¢mmrtted to temiinate the employment of an employee or to provth temNnatN)n beneffts. 18-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 Accountlng pollci IContinu•d} 1.13 R•tir•m•nt b•n•ffts Paymenls to defined contribution rekn'remenl benefft sthemes are charged as an expense as they fall due. 1.14 L•as•$ Rentals payable under operaling lease$ are charged as an expense on a Strah1 line basis over the lemi of Ihe relevanl lea$e. Crlllcal accountlng estlmates and ludyments In the application ol the ¢harity's a¢xounting policies. the trustees are reqwred lo make judgements, e$timales 8nd sssumplions about the carrying amount of assets and li3biliti.ès that are not readity apparent from other source5. The eslimale5 and assotiated assumpb.ons are based on historical experience and other factors that are considered lo be le¥0. Actual rvsutts may differ from these estimates. The estirnates and underlying assumptions are reviewed on an ongoing basis. Revi5ion5 10 accounting estimates are recogni5ed in the period in whTrch the estimate is reSed where the revision affect5 only that period, or in the period of the revision and future periods where the revision affects both current and futur8 pèriods. Donation$ and lègaeiès Unrestricted Unrnstrict•d Regtvi¢ted fvnd fund$ Total 2023 2022 2022 2022 Donations and gffts 26.610 14.494 4,337 18.831 19-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable a¢tiviti•s 2023 2022 Monmouth Swal Cirdes Building Bridge5 proje¢t Operating grants HI of rooms Other project income Shop income 7.558 25.791 762,155 181,846 28,481 111.905 1,935 21.877 641.620 152.440 21.269 103.603 1.117.736 942.744 Anatysis by fiJnd Unrestr¢cted funds Restricted fvnds 319.548 798.188 272,384 670.360 1.117.736 942,744 Othèr trading activltl•s Unrestrlcted Unrestricted funds 2023 2022 Bar Bistro irKome Fundraising e¥enls 22,910 44.270 1,2 10,833 22,134 2.761 Other trading actiyities 68,476 35.728 Investments Unffestrictrd Unrnstrleted funds funds 2023 2022 Inter8$t raceivae 2,257 430
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Oth•r Ineome Unr•stricted Unv¢$trict•d lunds fund$ 2023 2022 Sundry income 5,108 4.119 Charilable activiti•s 2023 2022 Deprecialion and impairrnent Building Bridges costs Befriending projeet cost$ Volunleering for Wellbeing costs Other specific 9ranVproject cost5 Bistro costs Bar costs Shop costs Befriending projed 5t$ Activrties, fundraing & events Sundry cosls 79,058 137.102 205.816 133.752 160,444 58.248 15,588 92,314 66.525 1,310 200 88.132 259.925 217.458 152,528 29.645 45,838 6,125 76.605 2,602 139 950.357 878.997 Share of support cosls (see Ite 9) Share of governance cos15 (see note 91 250.534 26.526 188.254 3,884 1.227,417 1.071.135 Anafysi$ by fund Unrestricled lunds Restn'cted fund5 289.597 781.53B 782.753 1,227.417 1,071,135 21
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Go¥•rnance costs costs 2023 Support Governance costs costs 2022 Wages and Salaries Rent, rales and uts"lities Postage, prinkn"n9. slalionery and markets"n9 Telephone and licences Repairs. rnainlenancE and equipment IT and IT mainlenan¢e Insurance Other staff costs Bank charges Accouniancy fees 151.746 38,394 151.746 38.394 117.401 26.349 117,401 26.349 4.743 4,743 3.121 4,225 3.121 4,225 24.875 8.(1 9.140 2.726 24.875 8.(1 9,140 2.726 16,261 6.691 8,629 445 923 4,209 16.261 6,691 8,629 445 923 4,209 3,601 3,601 Audit lees Legal and prolessio Trustee meeting expenses 3,667 3,667 18,5 18,59) 436 436 217 217 250,534 26,526 277,¢AO 188,254 3.884 192.138 Anatysed between Charitable activthes 250,534 26,526 2TT.060 188.254 3,884 192.138 Goveman¢e ¢osls indudes payments to the au¢T$ 01 £50012022." £500) for aOUnts ple8110n seN*es.
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Employ¢ Number of employ•es The average rnonthty number of emF4oyees duiing the year was.. 2023 Number 2022 Number 58 Wages and salaries Social seujrity costs Other pension costs 724,196 642,617 39,836 18,690 14.963 783,623 701,143 Key managoment peTronnel The total remuneiation paid lo key management personnel dullng the year linduding gross salary. employers nation insurance contribuln$ and empk7yets pension contribuiion5) lotlIng £108.83312022'. £128,520). Redundancy and terniination payments Redundancy payments tolalling £2,829 were made by the charity dn9 the year and are contsined in wages and salaries costs above12022.' £2.3541. There were no arnount$ outstanding at Ihe year end12022.' There w&rè no empbyee5 whose annual reffluneratk was £60,CKIO OT more. 11 Trustees None of the truslees lor any persons conneded wrth them) received any remuneration or b•nèfits from the charity during the current or prior year. 1 trLFSteè was reimbursed lor expens lotalluig £70 relating lo tharilable expenditure (2022.. 2 trusteès lotallin9 £2171. 12 Other Totsl Unreslricte¢J funds 2023 2022 Net loss orb disposal of tangle fixed assets 272 272 13 Taxation The charily is exempt from lax on income and gains falling wiihin section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable GainsAL# 1992 to the exient thal I$8 are appkn'8d to ils ¢haritable objects. -23-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Tangibl• fixèd assots L•a$ol Fi¥Eures and Motorh1¢18s lnd ahd fittlngs Tot41 Ct At 1 Aprd 2022 1.384.282 240,051 110.763 1,73S,096 Al 31 March 2023 1.384.282 240,051 110,763 1.735,096 Depreclatlon and impaimw Al 1 April 2022 Depieciatton thai9ed in the ye8r 1.218.799 55,531 220,022 36,687 18,519 1.475.508 79.059 Al 31 M8r¢h 2023 1.274.330 225,031 55,2(6 1,554,567 Carying anwunt Al 31 March 2023 109,952 15.020 55,557 180,529 At 31 March 2022 165,483 20,029 74.076 259,588 IS Stocks 2023 2022 Good$ for rèsale 3,323 1,800 16 D•bta¥s 2023 2022 Amounts falling due Twlthin one year. Trade delAors Other debtors Prepaymen15 and 8ecwed •rne 26,975 10,861 1.146 13,IJ05 14.933 41.908 25.012 17 Cr•ditors: amounts falllng du• tlthln one y•ar 2023 2022 Other laxats.on and social sewr Trade ¢reditors Other creditors ACcal$ and defeired income 13.S20 11.026 25.337 49,480 11,626 7,435 11,250 47,829 99.363 78.140 -24-
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS ICOIITINUEDI FOR THE YEAR ENDED 31 MARCH 2023 J1 9227 11955 {15247) 24.621 r24.fj10) S(Le1e$. Lottery Bre$. Re¥rfe ICF. &sab4tyand 3m9 75.((¥) I1,173) 2.002 Sthme Vdunteetry Fd a55015 Buildin9 Bity$- Fi191 Building BtE$- ICF iIng Bro3es. nwnei of Fun Se¥bume-¢FI OGI forDai Pwed 428 2356 6.9n 143MX) 311.476 11.mo 8.197 P71.3711 1145.1 IU02TJI (23.792) (107.61 21JJl 5.621 Z42.543 3.010 s 135.890) I1.33) IT4.1151 P5.9161 (223.1841 11.29)1 12.745) 12.4931 119.379) 50,028 3,352 1fj8,4Z8 21532 2211 1.370 IL¥J.g n8 11.8S41 3.718 973 1.967 141.E37 275 TeBD j1 &id4Q& CtynKR4 BJ1 &idg$. IInY Eridges-ArtsAw¥d Tesca GnJuntratk kelb 16 13.1541 3.744 4.637 14*5 (6.0rn 141201} 442 10 1&539 53.858 148,1211 12.3701 19. 411.ffis S96.1¥J (r20 17.$77 YJI. 688.102 (7W.0781 122.410) 289.350
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMEIUS (Cl1NVED} FOR THE YEAR ENDED 31 AIARCH 2023 l• R••lrfctsd fvnd lthJv•mpThtin frJn Swt ErdaThY ee&S0b1tyHrdI8 RIng ComK ReSel. CO15 Creaiiyevith CCIVFund Viryin kled HMRC Cor1[$ Rel Sei Art Room Fkn)rlKyM KicheTh RNerFestrnl Afiernth)n Tea Cb PF Latt•ry Famihy &¥wt OlBU$tets MCC Pay Qut51Buster5 ResiSencV¥fVAFw3 OB ICF Fththrvj OB LOtteA1VitY Fufyj QB SthmmerofF Fanity Suppll P.02S1 255 1.132 11.319) 11.019) 187 14.057 14.U5n 112.$92) 17.184 ,670) 110,9341 1230) 2.475 624 1.580 1.810 5.148 1S.102) 12,21BI 1240) (3.68n {12,040) P5,fj331 11.0031 {1.79)) 141n 18J23 (10.6851 12.236 34.760 313 2.470 3S.(01 14,51Q 292fjQ 45 11.&S7 474 5,161 4.2C6 ei Pfessuies Fund (251} 549 11321 419.5 674.W 1781.wl J17,095 798,1 (782.7531 120.1211 342.409
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS IcoimNUEDI FOR ThE YEAR ENDED 31 MARCH 2023 11 kntrirtsd lun& Icondnuedl SO¢1 CSrth•.Lottery 4dln9 Bridgog-RMpt¢ To PMJe [le care fry ne• Toprovwje a betrnthng% IL¥cJwpeo Other$rn•lgr4MS MCC wanttund8dlDsurwrt Bu11n 8ridw. Int•rrn•I• Fund TwafviibQ BuddimO Oridy••-H¥th Sh• -27.
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 2023 {Conlnugdl Sthrmrof Fu Auiantto trk•sbrrtWhs. S•abTh-CFIlY OGI 4rdntfwW Agrantt¢ gJprrfthe BB. QB, PF FSSwqe¢ts. T•a Danc• Bulldlng BrhlwWQB R•W Bulldlng Bt•rIQ8I ilding Bridy•s.ArtsA¥J7nl T•Jco Grounknrk BDDk SpDrt Engd JubilEe TrIOvpRwth
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS {conNUED) FOR THE YEAR ENDED 31 AIARCH 2023 18 RaJlrf¢tsd ld• Cornlc R•W- covi[1$ Cr•¥ti ¥JrAing 1ryinldl ArtRoorn Kitc1 GW YO1dd by Econorn Re4en¢• fund 10 bp ) the rorjm (gTrde 11 kndl which be Pdellainry In Swswnthokery. cooknryon a Wy•V•kyRi¥evF¢•itrf41 AcomnvJnrfyArt PrLYeCL Aft•moon T•4 cts PF Lott•ry Famitysupwt Qu1¥t•r4 IKC Pay F Atyani to 10lhetrthknntr¢QB QuMtrmt¢r4 Re61Uen¢elVCVAFd 3 Awanito We QB ICFfvthw.toryty• FI¥sUPport Agrantto alm•t•A¢tioD ThtsrPrNgurvA Fu Agranl to OB ICF lts .
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEME15 (ClYINuED) FOR THE YEAR EPIDED 31 AIARCH 2023 11 R•iritl•dfvnd Iconunwdl I A2?1 Ji rth21 Pr(pci SUFPYt Eweryerryfvnd 11k5J71 91958 34.829 135,5 20,121 112.378 1aS.371 142.8%) 45.429 142. 34.829 13S,5 20,121 162.378
BRIDGES CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 An•tysis of net assets belween funds Unrtstricttd Re5tri¢ted 2023 2023 Total UtrICted Rèstricted 2023 2022 2022 Totsl 2022 Ftjnd balances at 31 March 2023 are represented by: Tangiblè assets Current assetsllliabilities) 12.101 288,3CM) 168.428 173,981 180,529 462.281 17,045 285,0 242,543 104.552 259.$88 39),452 XQ.401 342.409 642.810 302,945 347,095 650.040 21 Operating leas• commitirnnts Al the reporting end date the charty had outslanding cornrnitments ftrture minimum lease payment5 under non4an¢ellable operaling leases, whi¢h fall thje a5 folk?.. 2023 2022 wrthin one yèar Bee•n tt¥o and five years 31,746 30,004 32,101 5,939 61,7SO 38.040 22 Related party transactions There were no dis(*Jsable related party transalS during the year {2022- none). 23 Cash generated fmm operatlons 2023 2022 Deficit for the year {72301 {69.555) Adjuslmènts for.. Investment income recognised in statemènt of finanual activit$ (Gainvloss on disposal of tangible fixed assets Depreciation and impairrnent of tangible fixed assets {2.257) (4301 272 88.132 79.058 Movèmenls in working caprfal.. (Inueasel in stocks Uncrea5elldecrease in debtors In¢reaselldecxeasel in ¢redrtors 11.S231 {16,8961 21,223 11,8C(>I 61,356 169.5631 Ca$h generated from op•ratiofts 72,375 8.412 24 Analysis ol chang•s in net funds The chaniy had no debt during the year. 31