2025-03-31-accounts - Bridges Centre

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Company no. 03853667 Charity no. 1079085

Bridges Centre Report and Audited Financial Statements 31 March 2025

Bridges Centre

Reference and administrative details

For the year ended 31 March 2025

Company number	03853667
Charity number	1079085
Registered office and	Drybridge Park
operational address	Wonastow Road
	Monmouth
	Monmouthshire
	NP25 5AS
Trustees	Trustees, who are also directors under company law, who served
	during the year and up to the date of this report were as follows:
	Alison Beard-Gunter	(appointed 6 May 2025)
	Julie Boothroyd	(appointed 4 February 2025,
		resigned 5 August 2025)
	Richard Chamberlain	(resigned 19 March 2025)
	Sheena Jane Duke
	Susan Eldridge	(appointed 6 August 2024)
	Robin Gibson
	Dorothy Jane Gunter
	Roger Hoggins
	Stephen Pospisil	(appointed 6 August 2024)
	Geoffrey Quinn
	Mary Ann Rosser
	Mark Walton
Company secretary	Susan Eldridge
Senior management team	Andrea Charles - Facilities Manager
	Ben Ford - Events and Marketing Manager
	Mike Logan - Wellbeing Director
	Amy McDougall - HR Manager
	Laura Morgan - Finance Manager
Bankers	HSBC Bank Plc
	35 High Town
	Hereford
	HR1 2AQ
Auditors	Godfrey Wilson Limited
	Chartered accountants and statutory auditors
	5th Floor Mariner House
	62 Prince Street
	Bristol
	BS1 4QD

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

OBJECTIVES AND ACTIVITIES

Charitable objectives

To promote for the benefit 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 occupation with the object of improving the conditions of life of the inhabitants; and
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 furtherance 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 with 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, classes and clubs to promote social, artistic, physical and cultural activities; and
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 Monmouthshire and the affordable facilities we provide at Drybridge House for:

Charities working with families, older people, adults with 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, socialise, and gain support;
Small businesses, business start-ups and freelancers – including social enterprises;
Voluntary, public and commercial sector organisations who hire rooms for meetings, conferences and concerts;

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

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 Connections Disability and Inclusion teams and by attending Social Circles Group, DanceTime4All 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; and
Many visitors to Monmouth visit Drybridge House, which is a Grade II* listed building, an important part of Monmouth’s heritage.

Ensuring we deliver our aims

Our externally funded projects are required to produce quarterly reports showing their achievements using recognised evaluation methods.

The Wellbeing director oversees and monitors all wellbeing project services and social groups such as Social Circles.

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 over two days a week and lunch club for over 60s has an increasing number of regular attendees. 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 and develop social contacts for example adult ballet, yoga, table tennis, fit4life and Nordic walking groups which are centred at Bridges;
Dancetime4all has revived since lockdown and is a well attended intergenerational activity providing light exercise and enjoyable social contact for everyone, including those with dementia. It is supported by a professional dance teacher and regular volunteers;
100+ young people with 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 world, helping to develop confidence, to find new skills and employment;
About 100 younger people aged 6-17 years are included in the Quest Buster scheme;
Volunteers of all ages enjoy working with 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 volunteers this experience is also invaluable when looking for employment. We now have 500 active volunteers working across the county all supported by our volunteering for wellbeing project;

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

Our community car scheme continues to provide a valuable service within 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; and
Maintaining our listed building as a safe and pleasant environment provides charities and start up/small business owners with an affordable place to base their organisations. It provides an elegant, affordable setting for many functions including weddings, parties, concerts and funeral wakes; and also a location for local clubs and organisations to hold regular meetings.

ACHIEVEMENTS AND PERFORMANCE 2024-2025

This has been a particularly difficult year for the charity because our finances are showing an increased deficit which has been worsened by both the increase in NI contributions and minimum wage increase. We have therefore been focused on improving our sustainability. We have not yet been able to renew our lease on terms which provide long term security.

We have now employed a grants officer for one day per week. She is working to submit a Heritage Lottery Fund application, but this is awaiting on our lease renewal; meanwhile she is looking for smaller funds and organising a fundraising campaign together with our events and marketing manager.

In order to raise income to support our charitable activities we need to maintain high use of our building both with permanent hire and casual hire. We have been particularly successful in increasing rental from casual hire for community activities e.g. fitness classes, local choir and music groups art and craft groups and u3a. These activities are now increasing after a difficult time following lockdown. Most of our rooms available for permanent hire are now occupied and we are converting one large room back to two smaller rooms which are preferred by hirers.

The Pantry and catering activities are slowly increasing as the good reputation of our chef is spreading by word of mouth. It has become a venue for local groups to meet for coffee or lunch. Overall, the catering is still not making a profit, but the deficit is slowly reducing and we hope to break even within a year as estimated in our three yearly business plan. In order to increase income we have had a review of prices and menus. Income is still very reliant on events and weddings which have helped over the spring and summer.

We have had 10 weddings this year and two booked for next year, 55 events were booked by the community for private functions and currently there are 48 future bookings. The Christmas 2024 lunches were a great success with 534 lunches served, and we already have 48 booked for 2025.

We also had another successful day in February when the building housed a model railway exhibition. All the regular users e.g. u3a meetings, fitness classes and Stagecoach all contribute to a busy schedule.

The community shop has had another difficult year due to staffing problems and shortage of volunteers. However in February we closed the shop for a complete make-over. This has proved successful and both donations and income have increased. We hope to meet our target profit for the year.

All the income from hire and profit from the shop goes to support our charitable activities and maintain the building as a safe and welcoming venue for use by the local community.

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

The Social Circles group is now under the management of the wellbeing director. It continues twice weekly with full numbers of attendees (fourteen) each session. It is run by a salaried organiser with excellent volunteer support.

The Tea Dance, now renamed Dancetime4all at Bridges, continues to meet on Thursday afternoons with about 50 attendees and a strong army of volunteers.

The other focus of the trustees over the year has been the lease renewal. Our 25 year lease, for which we paid a peppercorn £1/year rent expired in March. For many months we have been negotiating the terms of the lease with the landlords (Monmouthshire County Council). There is no problem with them giving us another 25 year lease, but we feel the terms offered do not provide us with the necessary long-term security. This will be discussed further in risk management alongside our financial risk.

Staff and activities

Our Wellbeing Services team has 24 staff employed across eight service areas which cover the whole of Monmouthshire.

Our Befriending team has five Coordinators who support over 90 volunteer befrienders and match them with 130 beneficiaries who are at risk of social isolation. We also have three staff who run five social groups with around 75 older people attending these groups every week.

Our Community Car Scheme has four coordinators who support over 50 volunteer drivers and provide around 3,000 passenger journeys per year for over 1,300 passengers who cannot use other means of transport.

Our five 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 six staff employed in our Disability and Inclusion team, which organizes activities and events for young people with additional needs in Monmouthshire.

Our Building Bridges team works with over 100 young people aged 14-25.

Our Autism Family Support Service provides information and support to over 300 families in Monmouthshire who have a child with autism.

We support over 20 adults with learning disabilities to speak up for themselves as part of Monmouthshire People First.

We now have two staff employed to coordinate activity at the Wellbeing Information Centre in Abergavenny.

Achievements

We are continuing our successful campaigns to recruit more volunteer drivers and befrienders, and we organized several events to support and celebrate the work of our numerous volunteers.

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

We were successful in gaining funding from the Gwent Regional Partnership Board to run the Wellbeing Information Centre in Abergavenny on a partnership basis with GAVO and Monmouthshire County Council.

We also received a grant from the National Lottery to increase the use of our electric vehicles and trishaws.

We have received a Main Volunteering Grant from the Wales Council for Voluntary Action (WCVA) to increase the number of volunteers with additional needs that we support. This grant is also providing funding for Bridges to go through the Investing in Volunteers accreditation process.

Ongoing challenges

Our wellbeing services rely on ongoing funding and we have been well supported by our main funders. 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 services 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 fundraising is done internally 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 were nominated as one of the Mayor of Monmouth’s three charities for the year 2024-25. We have appointed a part time (one day per week) Grants Officer with a target of raising £15,000 in additional grant revenue.

FINANCIAL REVIEW

Like many charities, large and small, during the year Bridges faced increasing pressures on both income and expenditure, pressures that are largely outside the organisation’s control. Our funders, public and private, organisations and individuals, have faced similar challenges, with incomes not keeping pace with inflation and expenses, especially utilities and similar costs, rising significantly.

Income and expenditure

The result for the year was an improvement over 2024 but still showed net expenditure of £18,551 (2024 £133,969).

Income increased to £1,278,902 (2024 £1,111,887), largely due to increased funding of charitable activities from certain of our partner organisations and from new partners. Unrestricted income benefited from an unexpected anonymous donation of £45,000.

Following the 2024 result, the management team and the trustees have had a specific focus on controlling costs. One consequence of that was the role of Business Director being made redundant in May 2024. Costs did nonetheless increase to £1,297,453 (2024 £1,245,856), but that increase of £51,597 did not proportionally match the improved income.

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

Balance sheet

The balance sheet remained strong, with net assets of £490,290 (2024 £508,841) but the trustees recognise the importance of considering not just the overall position but its constituent components.

Restricted funds

Restricted funds held on the balance sheet, which of course are legally tied to a specific purpose defined by the donor, leaving Bridges with no discretion on how to spend them, improved by £7,225 to £295,622 (2024 £288,397).

Unrestricted funds

By contrast unrestricted funds, from which the organisation is obliged to pay its general expenses (including the upkeep of Drybridge House) fell by £25,776 to £194,668 (2024 £220,444). While this was an improvement on the 2024 result (net expenditure of £79,957) the trustees are addressing this imbalance (between restricted and unrestricted funds) to ensure that the charity retains a stable, solid and sustainable foundation from which it can continue to serve the people of Monmouthshire.

Reserves policy

The Charity needs reserves to provide a stable financial base for its operations, to provide adequate working capital and to protect its activities in periods of economic and social uncertainty. Like all charities, it is subject to external forces beyond its control and it maintains reserves to enable it to absorb such shocks without disruption to its charitable works.

The Finance Committee on behalf of the board of trustees, conducts an annual review of the level of free reserves (unrestricted reserves less non-current assets) in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of free reserves that are sufficient, considering:

▪Uncertainty over future funding sources and their timing;
▪Forecast operating and activity development costs;
▪Unexpected costs of maintaining our Grade II* listed building;
▪Unexpected additional costs such as employment taxation increases or utilities charges; and
Potential costs of reorganisation should there be a significant change in the scope of the charity’s activities.

The trustees consider that unrestricted reserves of £150,000 (approximately six months’ expenses outside those covered by restricted funds) are adequate to address these needs. At the balance sheet date unrestricted reserves stood at £194,668 (2024 £220,444). Any significant strategic development in the Charity’s activities would need additional, as yet unplanned funding.

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

Report of the trustees

For the year ended 31 March 2025

Risk management

We are still negotiating with Monmouthshire County Council regarding the terms for a new lease. On a full tenant repairing lease with gross rent of £97,000 for 30 years, they are proposing a rent grant of 90% in year I, 87.5% year 2 and 85% year 3. The rent grant will be reviewed by Monmouthshire County Council every 3 years for the period of the lease. The Trustees consider that this leaves the charity with a considerable financial risk for the future, making it more difficult to apply for large grants, particularly funding to improve the facilities and finance necessary for structural repairs to the building.

The financial constraints and increase in NI have made employing more staff more difficult and our current staff are over stretched. After having made the Centre Director redundant for financial reasons in May 2024, the trustees are having to take a more active role.

We are also aware that we rely on renewal of present funding for many of the wellbeing activities and this is becoming less certain in the present economic climate. Our wellbeing director is working hard with stakeholders to renew funds when they are due and so far has been successful.

Major unexpected repairs and maintenance

The building committee meets regularly to prioritise spending on repairs and sets a budget for general redecoration. Our Facilities Manager has worked with the caretakers to ensure as many repairs as possible are done in house. We do have a contingency fund for essential unexpected repairs.

PLANS FOR FUTURE PERIODS

Our immediate plans revolve around the necessity to renew the lease on terms we can afford.

We are also actively planning a fund raising campaign involving the local community and local businesses. This is planned to be launched at the start of 2026 with the aim of raising at least £50K.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Bridges Centre is a charitable company limited by guarantee which was incorporated on 5 October 1999 but lay dormant until 1 February 2000 and is governed under its Memorandum and Articles of Association (revised June 2016).

Trustee directors

The trustee directors are appointed by the Board of Trustees, to a maximum membership of 18. Each 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 familiarise themselves with the organisation and are provided with a copy of the Articles and Memorandum together with the latest financial report and outline of trustee duties.

They are expected to attend quarterly Board Meetings in addition to the AGM, as well as training and strategy days as arranged.

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

Committees

The Board is supported by several committees each with its own terms of reference. The chair of each committee is either a trustee or an employed member of staff with specific responsibility for that area.

The committees and their respective chairs are: Fundraising Ben Ford (Events and Marketing Manager) Building Robin Gibson Wellbeing Mike Logan (Wellbeing Director) Finance Geoff Quinn Human Resources Mark Walton

Management

For	the last 18 months we have had a flat management structure with a team consisting of:	the last 18 months we have had a flat management structure with a team consisting of:
▪	Wellbeing Director	Responsible for all the funded projects and other wellbeing
		activities;
▪	Finance Manager	Responsible for finance and reception team;
▪	Events and Marketing Manager	Responsible for catering, events and marketing;
▪	Facilities Manager	Responsible for upkeep of house and the care-taking team;
▪	HR Officer	Responsible for all personnel requirements; and
▪	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 averages and the responsibility of each role.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those 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 accounting estimates that are reasonable and prudent;
state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

Bridges Centre

Report of the trustees

For the year ended 31 March 2025

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors

Godfrey Wilson Limited were appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 4 November 2025 and signed on their behalf by

Mary Ann Rosser - Trustee

Independent auditors' report

To the members of

Bridges Centre

Opinion

We have audited the financial statements of Bridges Centre (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related 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 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of 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 statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 8 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Independent auditors' report

To the members of

Bridges Centre

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of the trustees

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

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

Independent auditors' report

To the members of

Bridges Centre

Our responsibilities for the audit of the financial statements

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

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

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance;
Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and
Designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud.

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:
▪Testing the appropriateness of journal entries;
▪Assessing judgements and accounting estimates for potential bias;
▪Reviewing related party transactions; and
▪Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Independent auditors' report

To the members of

Bridges Centre

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

Use of our report

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs 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 charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 4 November 2025

Robert Wilson FCA (Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Bridges Centre

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Restricted Unrestricted Note £ £ Income from: Donations and legacies 3 6,129 62,855 Charitable activities 4 782,903 333,157 Other trading activities 5 1,296 83,311 Investments - 5,332 Other - 3,919 Total income 790,328 488,574 Expenditure on: Raising funds - 268,580 Charitable activities 786,022 242,851 Total expenditure 7 786,022 511,431 Net income / (expenditure) and net movement in funds 8 4,306 (22,857) Reconciliation of funds: Total funds brought forward 288,397 220,444 Total funds carried forward 292,703 197,587	2025 Total £ 68,984 1,116,060 84,607 5,332 3,919 1,278,902 268,580 1,028,873 1,297,453 (18,551) 508,841 490,290	Restated 2024 Total £ 25,279 981,569 94,869 5,109 5,061 1,111,887 241,317 1,004,539 1,245,856 (133,969) 642,810 508,841

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the accounts.

Prior period expenditure has been restated to provide a more accurate reflection of the use of resources by the charity and to be comparable with the current year. There is no change to the total expenditure or net movement in funds.

Bridges Centre

Balance sheet

As at 31 March 2025

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2025 2024
Note £ £ £
Fixed assets
Tangible assets 11 39,646 107,906
39,646 107,906
Current assets
Stock 12 2,371 2,696
Debtors 13 45,582 42,205
Cash at bank and in hand 504,930 448,530
552,883 493,431
Liabilities
Creditors: amounts falling due within 1 year 14 (102,239) (92,496)
Net current assets 450,644 400,935
Total assets less current liabilities 490,290 508,841
Funds 17
Restricted funds 292,703 288,397
Unrestricted funds
-
Designated funds 166,680
General funds 197,587 53,764
Total charity funds 490,290 508,841
----- End of picture text -----

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 4 November 2025 and signed on their behalf by

Geoff Quinn - Treasurer

Bridges Centre

Statement of cash flows

For the year ended 31 March 2025

Cash used in operating activities: Net movement in funds Adjustments for: Depreciation charges Dividends, interest and rents from investments Decrease in stock Increase in debtors Increase / (decrease) in creditors Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments Net cash provided by investing activities Increase / (decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2025 £ (18,551) 68,260 (5,332) 325 (3,377) 9,743 51,068 5,332 5,332 56,400 448,530 504,930	2024 £ (133,969) 72,623 (5,109) 627 (297) (6,867) (72,992) 5,109 5,109 (67,883) 516,413 448,530

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies

a) General information and basis of preparation

Bridges Centre is a charitable company limited by guarantee registered in England and Wales. The registered office address is Drybridge Park, Wonastow Road, Monmouth, Monmouthshire, NP25 5AS.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Bridges Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' 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.

Income received in advance of provision of an event is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies (continued)

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of staff time as follows:

	2025	2024
Raising funds	17.0%	16.5%
Charitable activities	83.0%	83.5%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Leasehold land and buildings Depreciation is provided to write off the cost of the asset over the remaining life of the lease. Fixtures and fittings 25% reducing balance method Motor vehicles 20% reducing balance method

i) Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies (continued)

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

n) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key source of estimation uncertainty that has a significant effect on amounts recognised in the financial statements is depreciation, as described in note 1(h) above.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

2. Prior period comparatives: statement of financial activities

Income from: Donations and legacies Charitable activities Other trading activities Investments Other Total income Expenditure on: Raising funds Charitable activities Total expenditure Net expenditure and net movement in funds Income from donations and legacies Donations and gifts Anonymous donation Total income from donations and legacies Prior period comparative: Donations and gifts Total income from donations and legacies	Restricted £ £ 6,274 19,005 665,085 316,484 - 94,869 - 5,109 - 5,061 671,359 440,528 - 241,317 725,371 279,168 725,371 520,485 (54,012) (79,957) Restricted £ £ 6,129 17,855 - 45,000 6,129 62,855 Restricted £ £ 6,274 19,005 6,274 19,005 Unrestricted Unrestricted Unrestricted	Restated 2024 Total £ 25,279 981,569 94,869 5,109 5,061 1,111,887 241,317 1,004,539 1,245,856 (133,969) 2025 Total £ 23,984 45,000 68,984 2024 Total £ 25,279 25,279

3. Income from donations and legacies

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

4. Income from charitable activities

Hire of rooms Bar and cafe income Other project income Operating grants Gwent Regional Partnership Board Volunteering for Wellbeing Regional Integration Fund Monmouthshire County Council Aneurin Bevan University Health Board National Lottery Community Fund WCVA Gwent Association of Voluntary Organisations Other Total income from charitable activities Prior period comparative: Hire of rooms Bar and cafe income Other project income Operating grants Gwent Regional Partnership Board Volunteering for Wellbeing Regional Integration Fund Monmouthshire County Council National Lottery Community Fund Aneurin Bevan University Health Board Other Total income from charitable activities	Restricted £ £ - 184,466 - 93,010 8,988 53,468 322,290 - 141,840 91,752 - 75,000 - 69,998 - 30,000 - 29,218 - 13,817 2,213 782,903 333,157 Restricted £ £ - 180,151 - 87,149 9,327 41,476 322,290 - 145,437 - 90,672 - 49,999 - 40,000 - 7,360 7,708 665,085 316,484 Unrestricted Unrestricted	2025 Total £ 184,466 93,010 62,456 322,290 141,840 91,752 75,000 69,998 30,000 29,218 16,030 1,116,060 2024 Total £ 180,151 87,149 50,803 322,290 145,437 90,672 49,999 40,000 15,068 981,569

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

5. Income from other trading activities

Restricted £ Fundraising events 1,296 Shop income - Total income from other trading activities 1,296	2025 Total £ £ 7,506 8,802 75,805 75,805 83,311 84,607 Unrestricted	2024 Total £ 4,893 89,976 94,869

All income from other trading income was unrestricted in the prior period.

6. Government grants

The charitable company receives government grants, defined as funding from Aneurin Bevan University Health Board, Gwent Regional Partnership Board, Monmouthshire County Council, National Lottery Community Fund, and the Regional Integration Fund to fund charitable activities. The total value of such grants in the period ending 31 March 2025 was £709,868 (2024: £657,725). There are no unfulfilled conditions or contingencies attaching to these grants in either the current or prior year.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

7. Total expenditure

Staff costs (note 9) Rent rates and utilities Depreciation Activities, fundraising and events Shop and pantry Repairs and maintenance Other staff costs IT Insurance Telephone and licences Sundry Governance Postage, printing, stationary and marketing Legal and professional Accountancy Other specific grants Bank charges Sub-total Allocation of support and governance costs Total expenditure	Raising funds £ 110,462 31,162 - 4,033 47,917 9,214 181 2,520 192 773 1,005 - 1,090 - - - 1,255 209,804 58,776 268,580	Charitable activities £ 537,506 59 68,260 57,481 18 9,419 38,417 15,101 2,602 3,430 250 - 6,071 - - 3,728 531 742,873 286,000 1,028,873	Support and governance costs £ 207,363 55,479 - - - 25,687 630 6,640 10,239 7,555 8,530 9,700 2,102 5,595 3,908 - 1,348 344,776 (344,776) -	2025 Total £ 855,331 86,700 68,260 61,514 47,935 44,320 39,228 24,261 13,033 11,758 9,785 9,700 9,263 5,595 3,908 3,728 3,134 1,297,453 - 1,297,453

Total governance costs were £9,700 (2024: £12,169)

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

7. Total expenditure (continued) Prior period comparative (restated) Staff costs (note 9) Rent rates and utilities Activities, fundraising and events Depreciation Other staff costs Repairs and maintenance Shop and pantry IT Insurance Governance Postage, printing, stationary and marketing Sundry Telephone and licences Legal and professional Accountancy Bank charges Other specific grants Sub-total Allocation of support and governance costs Total expenditure	Raising funds £ 96,423 31,422 - - 3,536 7,341 38,629 1,861 186 - 1,786 1,783 1,216 900 - 1,792 - 186,875 54,442 241,317	Charitable activities £ 486,198 26,366 70,171 72,623 37,320 6,651 191 16,949 3,669 - 7,035 53 2,274 - - 422 100 730,022 274,517 1,004,539	Support and governance costs £ 191,219 41,988 3,503 - 5,174 28,227 - 10,317 9,916 12,169 2,619 8,451 6,226 4,500 3,513 1,137 - 328,959 (328,959) -	2024 Total £ 773,840 99,776 73,674 72,623 46,030 42,219 38,820 29,127 13,771 12,169 11,440 10,287 9,716 5,400 3,513 3,351 100 1,245,856 - 1,245,856

Prior period expenditure has been restated due to a change in the basis for allocating costs to better reflect the use of resources by the charity.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

8. Net movement in funds

This is stated after charging:

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||||| |---|---|---|---| |2025|2024| |£|£| |Depreciation|68,260|72,623| |Operating lease payments|31,917|31,222| |Trustees' remuneration|Nil|Nil| |Trustees' reimbursed expenses|8|511| |Auditors' remuneration (excluding VAT):| ||Statutory audit|9,750|10,000| ||Other services|-|500|

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During the year, one trustee (2024: two) was reimbursed for expenses totalling £8 relating to charitable expenditure (2024: £511).

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

9. Staff costs and numbers

Staff costs were as follows:

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|||| |---|---|---| |2025|2024| |£|£| |Salaries and wages|790,200|715,328| |Social security costs|49,168|43,996| |Pension costs|15,963|14,516| |855,331|773,840|

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Included in salaries and wages are redundancy costs totalling £4,200, comprising statutory redundancy payments. Redundancy costs have been funded from unrestricted general funds (note 17).

No employee earned more than £60,000 during the year.

The key management personnel of the charitable company comprise the Facilities Manager, the Events and Marketing Manager, the Wellbeing Director, the HR Manager, the Finance Manager, and the Business Director (until May 2024). The total employee benefits of the key management personnel were £164,132 (2024: £188,061).

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|||| |---|---|---| |2025|2024| |No.|No.| |Average head count|57|54|

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Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11. Tangible fixed assets Cost At 1 April 2024 and at 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 12. Stock Goods for resale 13. Debtors Trade debtors Prepayments Other debtors	£ 1,384,282 1,329,307 54,975 1,384,282 - 54,975 Leasehold land and buildings	£ 240,051 228,787 2,868 231,655 8,396 11,264 Fixtures and fittings	£ 110,763 69,096 10,417 79,513 31,250 41,667 2025 £ 2,371 2025 £ 16,051 27,923 1,608 45,582 Motor vehicles	Total £ 1,735,096 1,627,190 68,260 1,695,450 39,646 107,906 2024 £ 2,696 2024 £ 17,498 24,707 - 42,205

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

14. Creditors: amounts falling due within 1 year

Trade creditors Accruals Other taxation and social security Deferred income (see note 15) Other creditors 15. Deferred income At 1 April Deferred during the year Released during the year At 31 March	2025 £ 25,754 33,452 12,661 23,818 6,554 102,239 2025 £ 13,124 23,818 (13,124) 23,818	2024 £ 23,390 34,187 12,221 13,124 9,574 92,496 2024 £ 23,750 13,124 (23,750) 13,124

Deferred income relates to deposits received for events to be held in 2025/26 (2024: deposits received for events to be held in 2024/25).

16. Analysis of net assets between funds

Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2025 Prior period comparative Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2024	£ 31,250 261,453 - 292,703 £ 99,561 188,836 - 288,397 Restricted funds Restricted funds	£ - - - - £ - 166,680 - 166,680 Designated funds Designated funds	£ 8,396 291,430 (102,239) 197,587 £ 8,345 137,915 (92,496) 53,764 General funds General funds	Total funds £ 39,646 552,883 (102,239) 490,290 Total funds £ 107,906 493,431 (92,496) 508,841

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

17. Movements in funds

Restricted funds Disability and Inclusion Fixed Asset Fund Other Centre Funding Total restricted funds Unrestricted funds Designated funds: Project support Emergency fund Total designated funds General funds Total unrestricted funds Total funds Volunteering and Community	At 1 April 2024 £ 54,915 99,561 16,060 117,861 288,397 119,155 47,525 166,680 53,764 220,444 508,841	Income £ 258,467 - 6,451 525,410 790,328 - - - 488,574 488,574 1,278,902	£ (242,458) (68,311) (6,050) (469,203) (786,022) - - - (511,431) (511,431) (1,297,453) Expenditure	£ £ - 70,924 - 31,250 - 16,461 - 174,068 - 292,703 (119,155) - (47,525) - (166,680) - 166,680 197,587 - 197,587 - 490,290 Transfers between funds At 31 March 2025

Purposes of restricted funds

Disability and Inclusion

Funding related to diversity and inclusion: to create safe spaces for open expression without fear of judgement and embracing discomfort as part of the learning process.

Fixed Asset Fund

The fixed asset fund represents the value of the leasehold land and motor vehicles as these classes of assets are restricted in for certain projects and activities.

Other Centre Funding

Funding to support centre activities including Dance Time 4 All, afternoon tea, and the refurbishment of the Kymin Kitchen.

Volunteering and Community

Funding related to volunteering and community activities, including social circles and dementia transport services.

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

17. Movements in funds (continued) Purposes of restricted funds (continued) Purposes of designated funds

Project support

To provide continuing support for various projects once the grant funding has ended.

Emergency fund

To cover any unforeseen costs.

Transfers

Transfers between funds represents the removal of designations from funds as seen fit by the board.

Prior period comparative Restricted funds Disability and Inclusion Fixed Asset Fund Other Centre Funding Total restricted funds Unrestricted funds Designated funds: Project support Emergency fund Total designated funds General funds Total unrestricted funds Total funds Volunteering and Community	At 1 April 2023 £ 82,321 168,428 22,814 68,846 342,409 112,378 50,000 162,378 138,023 300,401 642,810	Income £ 228,501 - 3,631 439,227 671,359 42,608 - 42,608 397,920 440,528 1,111,887	£ (255,907) (68,867) (10,385) (390,212) (725,371) (37,289) - (37,289) (483,196) (520,485) (1,245,856) Expenditure	£ - - - - - 1,458 (2,475) (1,017) 1,017 - - Transfers between funds	£ 54,915 99,561 16,060 - 117,861 288,397 119,155 47,525 166,680 53,764 220,444 508,841 At 31 March 2024

Bridges Centre

Notes to the financial statements

For the year ended 31 March 2025

18. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due: Within 1 year Within 1 - 5 years	2025 £ 31,917 64,104 96,021	2024 £ 31,917 96,021 127,938

19. Related party transactions

Trustee Mary Ann Rosser made a donation of £771 (2024: £840). Additionally, during the prior year, the charity received a donation from Three Counties Liberal Jewish Community of £39, the organisation was related by the way of a common trustee. No amounts were outstanding at the end of the current or prior year.