Charity registration number 1079085
Company registration number 03853667 (England and Wales)
BRIDGES CENTRE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

BRIDGES CENTRE
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent auditorfs report
10-12
Statement of financial activities
13
Balance sheet
14
Statement of cash flows
15
Notes to the financial statements
16-35

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's goveming document, the Companies Act 2006 and
"Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities p￿parIng
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102) (effective 1 January 2019)"
Objectives and activities
Charitable Objectives
1. To promote for the benefft of the inhabitants of Monmouth and the neighbourhood (the area of benefit)
without distinction of gender. sexual orientation. colour, race or political religious or other opinions by
associating the inhabitants of the area of benefit and the local authorities, voluntary organisations and
other organisations in a common effort to advance education and to provide facilities in the interest of
social welfare for recreation and other leisure time occupations Y￿th the object of improving the
conditions of life of the inhabitants.
2. To establish, or secure the establishment of a community centre and to maintain and manage the same,
whether alone or in cooperation with the local authority or other person, or body in fijrtherance of these
objects.
Aims and Activities
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake for public benefit, and aim to combat isolation and to promote the general well-being of
the people of Monmouthshire irrespective of age, gender and ethnic background. by providing a safe. friendly
and supportive environment for public benefit which is..
the base for a number of charities and self-help groups working wth vulnerable people of all ages
a centre for the community, a place for people to meet and develop new skills and interests
a seed bed from which new projects and ideas can grow to meet needs identified in the community
an affordable, accessible venue for societies. dasses and dubs to promote social, artistic, physical and
cultural activities
a provider of opportunities for employment. volunteering. training, education and enterprise
Who benefits from our activities?
Bridges is based in a building full of character and continues to have a deep and wide reaching impact on the
people who volunteer here. on those who use its facilities and on the organisations and projects that are based
here.
We continue to make a difference to the wellbeing of many people each week who are reached through the work
we do across MonmoLrthshire and the affordable faalities we provide at Drybridge House for..
charities working with families, older people. adults wth mobility problems and others who need a little
extra support.
community groups which help people to learn and develop their skills, stay healthy, be creative, ￿CIaliSe
and gain support.
small businesses, business start-ups and freelancers- induding social enterprises.
voluntary, public and commercial sector organisats.ons who hire rooms for meetings, conferences and
concerts.
families and friends who want to mark significant points in their lives through an event in one of our
rooms.
people who receive support through our Wellbeing Services projects, including Community Connectior
Disability and Inclusion teams and by attending Social Circles Group, Tea Dance and Lunch Club.
500 volunteers who are supported by our volunteering for wellbeing scheme throughout the county and
gain useful skills and experience. as well as companionship.

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Many visitors to Monmouth who visit Drybridge House. which is a Grade2" listed building, an important
part of Monmouth's heritage.
Ensuring we deliver our aims
Our externally funded projects are required to produce quarterfy reports showing their achievements using
recognised evaluation methods.
The Wellbeing Director oversees and monitors all wellbeing project services, and also social groups such as
Social Circles, Tea Dance, Lunch Club.
We encourage feedback on an informal basis from all our user groups and encourage trustees to develop links
with particular activities.
How our activities deliver public benefit=
Many elderly, vulnerable and isolated people from across the whole county have been linked to a one to
one volunteer and are visited or telephone befriended through the Community Connections service. This
helps to relieve isolation and offer practical support, for example with transport, and is well recognised
as a means to improve health and wellbeing.
A total of 28-30 elderly people benefit by attending our Social Circles group, which meet twice a week,
and lunch club for over 60s has 20 regular attendees, somets'mes more. This gives a regular {and in
many cases the only) opportunity to meet others and have a cooked lunch. An increasing number of
elderly attending social circles have additional needs and we have been supported by care assistants
from Monnow Vale Hospital.
We continue to seek new group opportunities to help the 'young elderly. to remain physically fit
develop social contacts, for example adult ballet, yoga, table tennis, fit41ife and Nordic walking groups
which are centred at Bridges.
The Tea Dance has revived since lockdovm and is a vrfell-attended intergenerational activity providing
light exercise and enjoyable social ￿ntact for everyone, including those wth dementia. It is SUPP¢Yted
by a professional dance teacher and regular volunteers.
100+ young people wth additional needs are helped through our Building Bridges project to learn new
skills, develop new friendships and engage in their communities. This is particularly aimed to help young
people in the transition from school to the outside v￿r1d, helping to develop Confiden￿ and to find new
skills and employment.
Volunteers of all ages enjoy working wth Bridges and gain useful skills and experience, as well as
companionship. They gain a purpose of "giving something back., make new friends, and learn new
skills. For younger volunleers this experience is also invaluable when looking for employment. We now
have 520 active volunteers working across the county, all supported by our volunteering for wellbeing
project.
Our community car scheme continues to provide a valuable Servi￿ wthin the community and helps
those with mobility or transport difficulties to attend appointments, shopping, hair appointments and
social activities. The scheme is increasing in popularity and is restricted only by the number of available
volunteer drivers.
Maintaining our listed building as a safe and pleasant environment provides charities and start uplsmall
business owners with an affordable place to base their organisations. It provides an elegant, affordable
setting for many functions induding weddings. parties, concerts and funeral wakes, and also a location
for local clubs and organisations to hold regular meetings.
Achievements and performance
There have been further changes to the Board of Trustees. The newly appointed chair resigned for health
reasons and two truslees agreed to be ctFchairs until a new chair is appointed. We have appointed six new
trustees with a variety of skills and experien￿ - accountancy and business, architecture and local government,
and a former trustee has been re-appointed and has agreed to be Company Secretary and take on some
responsibility for the shop. We now have 12 trustees.

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
There has been a complete change in the staff management structure.
In October we appointed a Wellbeing Services Director who has overall responsibility for all wellbeing services,
which has proved to be an excellent addition to the staff management team. The role of Centre Director was
made redundant in May 2024 resulting in the departure of the Centre Director. We have appointed a
management team to cover all areas of responsibility, each member of the team has a named trustee to consult
for any support needed. This arrangement has proved to be effective, with managers having greater autonomy
for their own areas of responsibility and ability to work collaboratively. The principal area that ￿ed5 updating is
Health and Safety, and a part time Facilities Manager has been added to the management team to address this.
We were able to upgrade the post of 'Finance and Administration Manager. to recognize the stalwart
invaluable conlribution the post holder has made to the charity since her initial appointment in 2013.
The Pantry and catering services have had an event￿1 year. The catering department underwent a renaissance
early in the year, so we were able to provide light lunches in addition to breakfasts, coffee and cakes. We also
had full bookings for Christmas lunches. In January, we needed to employ a new chef and were very Il￿kY to find
a highly qualified chef who was keen to work regular hours wth us. This has greatly improved the catering for
social circles, lunch club and has allowed us to cater for evenls and weddings. We had 7 weddings during the
year and already have 8 booked for nexi year. Chef catered for numerous wakes, private lunches and has
private parties booked in the next I￿0 months. We are now taking bookings for Christmas lunches 2024. Wth
this increased activity we hope to increase the profit from catering and the bar.
Permanent hire of rooms has been difficult since lockdown as small businesses have either decided to work from
home or ceased trading. However it is slowly picking up again but we still have rooms available.
Despite having to increase our charges. casual room hire for community activities is very busy.
The community shop has had a difficult year due to several factors", we have had three changes of managers
which is very disruptive for all shop volunteers. There has also been reduced foot-fall in the town for several
months due lo road works. This has affected all businesses. However, our shop is still showing a profit, but much
reduced.
Wellbeing Services
Staff and Activities
Our Wellbeing Servi￿$ team has 21 staff employed across 8 Servi￿ areas which cover the whole of
Monmouthshire.
Our Befriending team has 4 Coordinators who support over 90 volunteer befrienders and match them with 130
beneficiaries who are at risk of social isolation. We also have 3 staff who run 5 social groups with around 75
older people attending these groups every week.
Our Community Car Scheme has 5 Coordinators who support over 50 volunteer drivers and provide around
3,000 passenger joumeys per year for over 1.300 passengers who cannot use other means of transport.
Our 4 Volunteering for Wellbeing Coordinators support over 370 volunteers across Monmouthshire and match
them up with volunteering opportunities within Bridges. and with other community groups across Monmouthshire.
We have 6 staff employed in our Disability and Indusion team, which organizes activities and everts for young
people with additional needs in Monmouthshire. Our Building Bridges team works with over 100 young people
aged 14-25. Our Quest Busters team works with around 100 younger children aged 6-17. Our Autism Family
Support Service provides infomiation and support to over 300 families in Monmouthshire who have a child with
autism. We support over 20 adults wth learning disabilities to speak up for themselves as part of Monmouthshire
People First.
Achievements
We ran successful campaigns to recruit more volunteer drivers and befrienders, and organized several events to
support and celebrate the work of our numerous volunteers.

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
We were successful in securing continuation funding from the National Lottery Community Fund for our Quest
Busters work. We also secured several smaller grants from Monmouth Town Council, Gwent High Sheriff
Community Fund, Tesco, Monmouth Food Partnership, Gwent Regional Partnership Board, Aberyswth
University, Community TransportAssociation and Scope.
Our wellbeing work has been recognized by the Mayor of Monmouth who has nominated Bridges as one of his
chosen charities, and by the Torfaen and Monmouthshire BusinessAwards which included Bridges as a finalist in
its Charity section.
We redesigned our publiaty material and have attended numerous nefv￿rkIng and promotional events across
Monmouthshire.
We completed a research study for Aberystwyth University's THINK project about the motivation of our volunteer
drivers. We also completed a feasibility Study on exiending our car scheme work into North Torfaen.
Ongoing challenges
Our wellbeing services rely on ongoing funding and we have been well supported by our main fvnders However,
the pressure on public finances means that our funding income is being eroded due to reduced funding for some
services, and zero funding uplifts by some funding bodies.
We are also experiencing increasing demand for wellbeing Se￿iceS at a time when volunteers are in short
supply, and so we have some waiting lists in place.
Fundraising
We do not employ a professional fundraiser. all our fvndraising is done intemally by staff and volunteers.
Fundraising activities are now increasing again, we have a monthly event organised by the events and marketing
manager and fundraising committee, which are proving popular and this year (our 40th anniversary) we have a
goal to raise £40,000. We recently held a gala dinner created by Celebrity Chef Cyrus Todiwala to launch our
appeal which was a great success. We have also been nominated as one of the Mayor of Monmouth's thr
charities for the year 2024-25. We are in the prO￿sS of appointing a part time Grants Officer with a target of
raising £15,000 in new grants for 2024-25.
Financial review
The charity has applied its ￿ndS for the year in the furtheran￿ of its objectives. The totsl net outgoing resources
for the year ended 31 March 2024 amounted to £133,969 (2023.. net outgoing £7,230). The charity made an
unrestricted deficit of £79,957 (2023= deficit of £2,544) after transfer of funds.
The net assets of the charity (including Fixed Assets, Restricted Funds and ReseNes) at 31 March 2024 have
decreased to £508,841 from £642,810 as at 31 March 2023.
The unrestricted funds comprise £220,444 (2023: £300,401). Restricted funds are £288,397 (2023.. £342,409).
The restricted funds are held for the purposes noted in note 18.
Reserves Policy
The Board of Trustees has recommended that Bridges should aim to maintain sufficient unrestricted resetves to
cover unexpected costs of repair to our Grade2. listed building. and also to cover costs of business development.
They recommend a minimum of £50,000. As at March 2024, our unrestricted reserve is £220,444, £166,680 of
this has already been set aside as designated funds for our projects and £8,345 is held in fixed as*ts, leaving
£45,419.
Investment Policy
Bridges operates several bank accounts in order to ensure accessibility to funds whilst receiving maximum
interest possible. No stocks or shares are held.

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Risk Management
The main uncertainty for future risk is exlending our lease. The Current lease expires in March 2025 and we are
negotiating new terms with Monmouthshire County Council. Vthether or not we can conts'nue leasing the property
is reliant upon them granting us 950kn rent relief. We are still awaiting their decision.
There are several major structural repairs needed, but it is drfficult to access grants without a secure lease.
Major unexpected repairs and maintenance
The building committee meets regularly to priontise spending on repairs and sets a budget for gerEral
redecoration. Our newly appointed Faalities Manager is now preparing a schedule and hoping to get as much
maintenance done as possible using irFhouse skills. We do have a contingency fund for essential unexpected
repairs.
Plans for the future
Our immediate plans revolve around the necessity to renew the lease on terms we can afford. In addition, we
have the ongoing problem of increasing income and have a three year business plan for our catering ￿partment
to increase income from extemal events and private fvnctions. We are also actively looking to increase usage of
our hired community spaces. We are currently employing a part time funding officer to apply for grants in order to
maintain Drybridge House, a Grade2. listed building.
Structure, governance and management
Bridges Centre is a charitable company limited by guarantee vthich was incorporated on 5 October 1999 but lay
dormant until 1 February 2000 and is governed under its Memorandum and Artides of Association (revised June
2016}.
Trustee Directors
The trustee directors are appointed by the Board of Trustees, to a maximum membership of 18. They serve for a
duration of three years but can be re-elected for three periods of three years.
All trustees give their time voluntarily and receive no benefits from the charity.
In an effort to maintain a broad skill mix among Board members. they are required to provide a list of their skills
and every effort is made to fill any gaps in expertise when appointing new trustees.
New trustees are encouraged to join one or more of the committees to familiarize themselves with the
organisation and are provided with a copy of the Artides and Memorandum together with the latest financial
report and outline of trustee duties.
They are expected to attend quartedy Board Meetings in addition to the AGM, as well as training and strategy
days as arranged.
Committees
The Board is supported by several committees each with its own temis of reference. The chair of each
committee is either a trustee or an employed member of staff wth specific responsibility for that area. The
committees and their respective chairs are..
Wellbeing
Finance
Building
Human resources
Fundraising
Mike Logan (Wellbeing Director)
Geoff Quinn
Robin Gibson
Mark Walton
Ben Ford (Events and Marketing Manager)

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Management
The management structure of Bridges has changed ￿nSiderablY over the past year due to the appointment of a
Wellbeing Director in October 2023 and the role of Centre Director was made redundant for financial reasons in
May 2024.
We now have a flatter management structure with a team consisting of"
Wellbeing Director- Responsible for all the fvnded projects and other wellbeing activities.
Finance and Administration Manager- Responsible for ffinan￿.
Facilities Manager- Responsible for upkeep of house and the care-taking team.
HR Manager- Responsible for all personnel requirements.
Events and Marketing Manager- Responsible for all marketing and fundraising.
Shop Manager- Responsible for running our shop and maintaining income.
This group meet regularly with two trustees and each has a named trustee to consult for advice when needed.
Key management personnel salaries are set on a cost analysis basis, taking into account sector avwages and
the responsibility of each role.

BRIDGES CENTRE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Reference and administrative details
Charity name
Bridges Centre
Charity number
1079085
Company number
3853667
Registered office
Bridges Centre
Drybridge Park
Wonastow Road
Monmouth
NP25 SAS
Trustees
Haydn Cullen-Jones- resigned 28 November 2023
Mark Walton- Ccpchair
Ann Rosser- Ccpchair
Geoff Quinn - Treasurer
Jane Duke
Robin Gibson
Jane Gunter
Catrin Maby
Patrick Harkness - resigned 5 May 2023
Roger Hoggins- appointed 2 May 2023
Yvonne Tumer- appointed 2 May 2023
Richard Chamberlain- appointed 14 November 2023
James Newcomb - appointed 6 February 2024
Steve Pospisil - appointed 6 August 2024
Susan Eldridge - appointed 6 August 2024
Secretary
Susan Eldridge - appointed 6 August 2024
Senior management team
Aileen Atkinson - Centre Director- left 21 May 2024
Mike Logan - INellbeing Director
Laura Morgan- Finance and Administration Manager
Mark Jones - Facilities Manager
Amy McDougall - HR Manager
Ben Ford- Events and Marketing Manager
Maria Church - Shop Manager
Auditors
Azets Audit SeNices
Ty Derw, Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB
Bankers
HSBC Bank PIC
35 High Town
Hereford
HR12AQ

BRIDGES CENTRE
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, report VRS approved by the Board of Trustees.
Ann Rosser- Trustee
Dated: .....

BRIDGES CENTRE
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of Bridges Centre for the purpose of company law, are req)onsible for
preparing the Trustees, Report and the financial statements in ac￿rdanCe with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounts'ng Practice).
Company Law requires the trustees lo prepare financial slatements for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to=
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP:
make judgements and estimates that are reasonable and prudent., and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the Maintenan￿ and integrity of the charity and financial information included on
the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.

BRIDGES CENTRE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BRIDGES CENTRE
Opinion
We have audited the financial statements of Bridges Centre {the 'charity') for the year ended 31 March 2024 which
comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the
financial statements, including a summary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting standa￿ applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting practi￿>.
In our opinion, the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿.
and
have been prepared in accordance viith the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance wth Intemational Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are fvrther described in the Auditors ￿sponsIbl1111eS for the audit ol
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the trustees. use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of at least twelve months from vthen the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the twstees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the infomiation induded in the annual report other than the fina￿la1 statements
and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider
whether the other information is materially inconsistent wth Ihe financial statements or our knowledge obtained in
the course of the audit, or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a materkgl misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other infomiation, we are required to report that fact.
We have nothing to report in Ihis regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the followng matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinion=
the information given in the finanual statements is inconsistent in any material respect with the trustees.
report., or
SLrfficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.
10-

BRIDGES CENTRE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BRIDGES CENTRE
Responsibilities of trustees
As explained more fully in the statement of trustees. responsibilities, the trustees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
error. In preparing the financial statements, the trustees are responsible for assessing the charitys ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic altemative but to do so.
Auditors responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about vh)ether the financial statements as a whole are free from
material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
th ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities. including fraud
Irregularities, including fraud. are instsnces of non-compliance with laws and regulations. We design procedures in
line with our resF)onsibililies, outlined above and on the Financial Reporting Council's website, to detect material
misstatements in respect of irregularities, including fraud.
We obtain and updale our understanding of the entity, its activities, its control environment, and likely future
developments, including in relation to the legal and regulatory framework applicable and how the entity is complying
th that framework. Based on this understanding, we identify and assess the risks of material misstatement of the
financial statements, whether due to fraud or error, design and perfom) audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes
consideration of the risk of acts by the entity that were contrary to applicable laws and regulations. including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed
procedures which included..
Enquiry of management and those charged with govemance around actual and potential litigation and
claims as well as actual. suspected and alleged fraud-
Reviewing minutes of meetings of those charged wth governance.,
Assessing the extent of compliance with the laws and regulations considered to have a direct material
effect on the financial statements or the operations of the entity through enquiry and inspection.,
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations.,
Performing audit work over the risk of management bias and override of controls, including testing of
journal entries and other adjustments for approprialeness, evaluating the business rationale of significant
transactions outside the nomial course of business and reviewing accounting estimates for indicators of
potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial ststements or non-compliance wth regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements, as we will be less likely to become aware of instances of norFcompliance. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control.
11

BRIDGES CENTRE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BRIDGES CENTRE
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the charity's Iruslees
those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
A12V hthF
Azets Audit Services
6 December 2024
Chartered A¢¢ountants
ststutory Auditor
Ty De￿, Lime Tree Court
Cardiff Gate Business Park
Cardiff
United Kingdom
CF23 8AB
Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under sedion 1212 of the CompaniesAct 2006.
12-

BRIDGES CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
fr
Donations and
legacies
Charitable activities
Other trading
activities
Investments
Other income
19,005
316,484
6.274
665.085
25.279
981.569
26,610
274,823
26,610
1,073,011
798,188
94.869
5,109
5,061
94.869
5,109
5,061
113,201
2,257
5,108
113.201
2,257
5,108
Total income
440,528
671,359
1,111,887
421,999
798,188
1,220,187
Ex
enditure on:
Raising funds
85,959
85,959
92,314
92,314
Charitable activities
433.509
726.388
1,159.897
352,350
782,753
1,135,103
Total expenditure
519.468
726.388
1,245.856
444,664
782,753
1,227.417
Net outgoing resources
before transfers
(78,940)
(55,029) (133,969)
(22,665)
15,435
{7,230)
Gross transfers
between funds
{1,017)
1,017
20,121
(20,121)
Net expenditure for the
yearl
Net movement in funds
(79,957)
(54.012) (133.969)
(2,544)
14,686)
{7,230)
Fund balances at 1 April
2023
300,401
342,409
642,810
302,945
347,095
650,040
Fund balances at 31
March 2024
220.444
288.397
508.841
300,401
342,409
642,810
The statement of financial activities indudes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
13-

BRIDGES CENTRE
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Fixod assots
Tangible assets
14
107,906
180.529
Currnnt as$•ts
Stocks
Debtors
Cash at bank and in hand
2,696
42,205
448,530
3,323
41,908
516.413
16
493,431
561,644
Creditors: amounts falling due within
one year
17
(92,496)
(99,363)
Net current assets
41X),935
462.281
Total #￿ets less current Ilabilibes
508,841
642,810
Inc¢)me funds
Restrict8d funds
Unrestricted fvnds
Designated funds
General unrestricted fvnds
19
288,397
342,409
20
166.680
53,764
162,378
138,023
220.444
300,401
508,841
642,810
The company is entrtle(I to Ihe exemption froffl the audrt requirement contsined in section 477 of the Companies Act
2006, for the year ended 31 March 2024, atthough an audit has been Caff￿d oul under 5edion 144 of the Charilies
Act2011.
The directors a¢knowl8dg8 their responsibilrties for ￿)Mpty1ng with the requirements of the Companies Act 2006
wilh respect to accounting records and the preparabon of financial statements.
The members have not required the company to obtsin an audrt of rts financial statements under the requirements
of the Companies Act 2006, for the year in queslion in accordance with seGtson 478.
These financial statements have been prepared in accordance with the provisions applicable lo companies subjecl
to the small companies re9ime.
statements were approved by the Trustees on th..￿￿.￿*.￿￿ÉK{ Zfjz
The financi
Geoff Qulnn - Trustse
Company Registration No. 03853667
14-

BRIDGES CENTRE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activities
Cash (absorbed by)Igenerated from
operations
24
(72,992)
72,375
Investing activities
Investment income received
5.109
2.257
Net cash generated from investing
activities
5,109
2,257
Net cash used in financing activities
Net (decrease)lincrease in cash and cash
equivalents
(67.883)
74.632
Cash and cash equivalents at beginning of year
516,413
441,780
Cash and cash equivalents at end of year
448,530
516,413
15-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Bridges Centre is a private company limited by guarantee incorporated in England and Wales. The registered
office is Bridges Centre, Drybridge Park, Monmouth NP25 SAS
1.1 Accounting convention
The financial statements have been prepared in accordan￿ with the charity's governing document, the
Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for SFEcific
purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted ￿ndS are subject to specific conditions by donors as to how they may be used. The purwses and
uses of the restricted funds are set out in the notes to the financial ststements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from grants is recognised when the charity has entitlement to the funds, any performance conditions
attached to the grants have been met, it is probable that the income will be received and the amount can be
measured reliably and is not deferred.
Grants receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are
treated as restricted funds. The restricted fund is then redU￿d by amounts equivalent to the depreciation
charges on the assets concemed and V￿11 continue to do so over the expected useful lives of the assets
concerned.
Income from charitable activities and trading income is recognised in the period to which the serwce relates
with any amounts received in advan￿ being deferred.
Bistro, shop and bar sales are recognised at the date of sale.
16-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Icontinued)
No amounts are included in the financial statements for services and time donated by volunteers.
Interest on funds is included when receivable and the amount can be measured reliably by the charity., this is
nomially upon notification of the interest paid or payable by the bank.
To better ensure compliance wth the relevant standards. the Charity has reviewed and reclassified certain
income and expenditure lines in the financial statements. These changes have been made to improve
alignment with the definitions and guidance provided by the SORP, ensuring clearer and more accurate
presentation of the Charity's financial activities.
These changes in classification have no impact on the overall financial position and has been made to
enhance clarity of the financial statements. Prior year figures have been restated where necessary to reflect
these reclassifications, ensuring consistency across reporting periods.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty, it
is probable that settlement will be required and the amount of the obligation can be measured reliatly.
Expenditure is classified under the following activity headings..
Costs of raising fiJnds comprise the costs in relation to generating income such as fundraising
events.
Expenditure on charitable activities includes all costs relating to the furtherance of the charitls
objectives as stated in the trustees report
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Costs where possible are attributed direcdy to the activity in which they relate. Where costs camot be directly
attributed to particular headings they have been allocated to activities on a basis consistent wth the use of
the resources.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to vrrite off the cost or valuation of assets less their residual values over their
useful lives on the following bases=
Leasehold land and buildings
Depreciation is provided to write off the cost of the assets over
the remaining life of the lease, currently 1 year
250A reducing balance method
200A reducing balance method
Fixtures and fittings
Motor vehides
The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indution
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient
loss {if any).
17-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Icontinued)
1.8 Stocks
Bar stock is stated at the lower of cost and net realisable value.
Net realisable value is the estimated selling price.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitys balance sheet vthen the charity becomes party to the
contractual provisions of the instrument.
Basic financial assets
Basic financial assets. which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future re￿iptS discounted at a market rate of interest. Financial assets
dassified as receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash 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 party.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a finanang 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 amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
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 liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Taxation
As a registered charity. Bridges Centre is entitled to the exemption from taxation in respect of income and
capital gains received wth sections 47PA89 of the Corporation Tax Act 2010 and section 256 of the Taxation
of Chargeable Gains Act 1992 to the exient that these are applied to its charitable objects purposes only.
18-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Icontinued)
1.12 Employee benefits
The costs of short-temi employee beneffts are recognised as a liability and an expense, unless thcse costs
are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday ent￿ement is recognised in the period in which the employee's 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.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes a￿ charged as an expense as they fall due.
1.14 Leases
Rentals payable under operating leases are charged as an expense on a straight line basis over the term of
the relevant lease.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects (￿lY that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Donations and legacies
Unrestricted Restricted
funds
funds
Total
funds
Total
funds
2024
2024
2024
2023
Donations and gifts
19,005
6,274
25,279
26,610
19-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2023
2024 (As restated)
Monmouth Social Circles
BLbilding Bridges project
Operating grants
Hire of rooms
Other project income
Bar and bistro income
9,327
8,385
663,466
180,151
33,091
87,149
7,558
25,791
762,155
181,846
28,481
67.180
981,569
1,073,011
Analysis by fund
Unrestricted funds
Restricted funds
316,484
665,085
274,823
798,188
981,569
1,073,011
Operating grants
Gwent Regional Partnership Board
Aneuin Bevan University Health Board
Monmouthshire County Council
National Lottery Community Fund
Regional Integration Fund
Other
322,290
40,000
90,672
49,999
145,437
15,068
376,265
241,838
49,998
94,054
663,466
762,155
Other trading activities
Unrestricted Unrestricted
funds
funds
2023
2024 (As restated)
Fundraising events
Shop income
4,893
89,976
1.296
111,905
other trading activities
94,869
113,201
-20-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
5,109
2,257
Other income
un￿strICted Unrestricted
funds
funds
2024
2023
Sundry income
5,061
5.108
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Tradin
costs
Shop costs
85,959
92.314
85,959
92,314
21

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2023
2024 (As ￿$tated)
Depreciation and impaimient
Building Bridges costs
Befriending project costs
Volunteering for Wellbeing costs
Other specific granuproject costs
Bistro costs
Bar costs
QuestBuster costs
Activities, fundraising & events
Sundry costs
72,623
133,379
193,002
145.630
109.284
72.490
26,287
76,332
6,112
251
79,058
137,102
205,816
133,752
160,444
58,248
15.588
66.525
1.310
200
835,390
858,043
Share of support costs {see note 10)
Share of governan￿ costs (see note 10)
307,838
16,669
250,534
26,526
1,159.897
1,135,103
Analysis by fund
Unrestricted funds
Restricted funds
433,509
726,388
352.350
782.753
1,159,897
1,135,103
-22-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Support costs
Support Governance
costs
costs
2024
Support Governance
Costs
costs
2023
Wages and salaries
Rent, rates and utilities
Postage, printing,
stationery and marketing
Telephone and licences
Repairs, maintenance
and equipment
IT and IT maintenan
Insurance
Other staff costs
Bank charges
Accountancy fees
191.179
39.380
191,179
39,380
151,746
38.394
151,746
38,394
4.263
6,226
4.263
6,226
4,743
5,900
4.743
5,900
36,514
10,423
9,916
5,287
1.137
3.513
36,514
10,423
9,916
5,287
1.137
3.513
24,875
8,001
9,140
2.726
1.408
3.601
24,875
8,001
9,140
2,726
1,408
3,601
Audit fees
Legal and professional
Trustee meeting
expenses
12.000
4,500
12.000
4,500
7,500
18,590
7.500
18,590
169
169
436
436
307,838
16.669
324,507
250,534
26,526
277,060
Analysed be￿een
Charitable activities
307.838
16.669
324.507
250.534
26,526
277,060
Governan￿ costs includes payments to the auditors of £500 {2023: £500) for accounts preparation services.
-23-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Employees
Number of employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
54
58
Wages and salaries
Social security costs
Other pension costs
715,327
43,996
14,516
724.196
44.464
14.963
773,839
783,623
Key management personnel
The total remuneration paid to key management personnel during the year (including gross salary,
employers national insurance contributions and employers pension contributions) was £188,061 {2023=
£108,833).
Redundancy and temiination payments
No redundancy payments were made by the charity during the year (2023: £2,829, contained in wages and
salaries). There were no amounts outstanding at the year end (2023.. £nil).
Ex-gratia payments
During the year, the charity made ex-gratia payments totalling £6,500 {2023= £nil) which were approved by
the trustees in recognition of exceptional arcumstances.
There were no employees vthose annual remuneration was £60,000 or more.
12 Trustees
None of the trustees (or any persons connected wth them) re￿iVed any remuneration or benefits from the
charity during the current or prior year.
2 trustees were reimbursed for expenses totalling £511 relating to charitable expenditure {2023.' 1 trustee
totalling £70).
13 Taxation
The charity is exempt from tax on income and gains falling y￿thin section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
-24-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Tangible fixed assets
Leasehold Fixtures and Motor vehicles
land and
fittings
buildings
Total
Cost
At 1 April 2023
1.384,282
240,051
110.763
1,735.096
At 31 March 2024
1,384,282
240,051
110,763
1,735,096
Depreciation and impaimient
At 1 April 2023
Depreciation charged in the year
1,274,330
54,977
225,031
3,756
55,206
13,890
1,554,567
72,623
At 31 March 2024
1,329,307
228,787
69,096
1,627,190
Carrying amount
At 31 March 2024
54,975
11,264
41,667
107,906
At 31 March 2023
109,952
15,020
55,557
180,529
15 Stocks
2024
2023
Goods for resale
2,696
3,323
16 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
17,498
24,707
26,975
14,933
42,205
41,908
17 Creditors: amounts falling due within one year
2024
2023
Notes
Other taxation and social security
Deferred income
Trade creditors
Other Creditors
Accruals and deferred income
12,221
13,124
23,390
9,574
34,187
13.520
23.750
11,026
25,337
25,730
18
92,496
99,363
-25-

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Deferred income
2024
2023
Other deferred income
13,124
23,750
Deferred income is included in the financial statements as follows=
2024
2023
Deferred income is included Y￿thin..
Current liabilities
13,124
23,750
Movements in the year..
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
23,750
(23,750)
13,124
23,750
Deferred income at 31 March 2024
13,124
23,750
Deferred income relates to deposits received for events to be held in 2024125 (2023.. deposits received for
events to be held in 2023124).
-26-

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p

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 Analysis of net assets between funds
Unrestricted Restricted
2024
2024
Total Unrestricted Restricted
2024
2023
2023
Total
2023
Fund balances at 31
March 2024 are
represented by..
Tangible assets
Current assetsl{liabilities)
8,345
212.099
99,561
188,836
107.906
400.935
12,101
288.300
168,428
173,981
180.529
462.281
220.444
288,397
508.841
300.401
342,409
642.810
22 Operating lease commitments
At the reporting end date the charity had outstanding commitments for fijture minimum lease payments under
non-cancellable operating leases, which fall due as follows=
2024
2023
Within one year
Be￿een two and five years
30,872
96,416
31,746
30,004
127,288
61.750
23 Related party transactions
During the year the charity received a donation from Three Counties Liberal Jewish Community of £39, the
organisation is related by the way of a common trustee. Additionally trustee Mary Ann Rosser made a
donation of £830 {2023'. £Nil). At the current and prior year end amounts of £nil were outstanding.
24 Cash generated from operations
2024
2023
Deficit for the year
1133.969)
{7.230)
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impaiment of tangible fixed assets
(5,109)
72,623
{2,257)
79,058
Movements in working capital..
Decreasel(increase) in stocks
(Increase) in debtors
Increasel(decrease) in creditors
(Decreasellincrease in deferred income
627
(297)
3,759
(10,626)
{1,523)
{16,896)
{2,527)
23,750
Cash labsorbed by)Igenerated from operations
(72.992)
72.375

BRIDGES CENTRE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
25 Anatysis of changes in net funds
The charity had no debt during the year.
-35-