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2024-03-31-accounts

BRIDGE CHURCH HAYLING ISLAND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

CHARITY REGISTRATION No: 1085253

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

BRIDGE CHURCH HAYLING ISLAND

CONTENTS

Page 3 Legal and Administrative Information Page 4-5 Trustees Report Pages 6 Independent Examiners Report to the Trustees Page 7 Statement of Financial Activities Page 8 Balance Sheet Pages 9 to 16 Notes to the Financial Statements

2

BRIDGE CHURCH HAYLING ISLAND

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1085253

START OF FINANCIAL YEAR 1 April 2023 END OF FINANCIAL YEAR 31 March 2024 CHURCH LEADER Mrs Mary Dennison TRUSTEES AT 31 MARCH 2024 Mr Paul Dennison Mrs Sandra Harmer Mr Barry King Mr Keith Peake

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT

Declaration of Trust dated 18th December 2000

OBJECTS

ADDRESS

67 Beach Road Hayling Island Hampshire PO11 0JD

PRIMARY BANKERS

Barclays Bank 54 Lombard Street London EC3P 3AH

INDEPENDENT EXAMINER

Z Derbak Independent Examiners Limited 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

BRIDGE CHURCH HAYLING ISLAND

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The principal activities of the church continue to be:

• To advance the Christian faith in this country and overseas; by following and proclaiming the principles and truths of the Bible; by arranging public and other meetings for worship, praise, evangelism, teaching, study and encouragement and prayer; by supporting other churches on Hayling Island and in South East Hampshire, and nationally where appropriate, sharing these objectives.

• To relieve persons in need and hardship both in this country and overseas. The church has supported initiatives on Haylin Island and runs The Bridge Advice Centre for all areas of advice, but specialising in debt, benefits, and form filling. We also provide a Food Bank & Crisis Fund and drop-in centre.

• To advance Christian education by providing assistance at schools and colleges on Hayling Island and surrounding areas South East Hampshire.

Trustees and other Church Officers

Trustees Mr Paul Dennison Mrs Sandra Harmer Mr Barry King Mr Keith Peake

Church Leader Mrs Mary Dennison

Review of Annual Activities

We continue with community outreach programmes, as appropriate, to support Hayling Island and other areas in close proximity to the Island.

Within our activities we incorporate Computer Courses, a Toddler Group, The Foodbank and The Bridge Advice Centre, which provides debt and benefits advice.

The work of the Bridge Advice Centre is affiliated to Frontline Debt Advice (UK), Charity No 1134908.

The Bridge Café offers refreshments in a friendly atmosphere where members of the public can meet with various representatives of community groups.

All our activities are undertaken within the national guidelines in place at that time.

We are committed to continue to provide direct support to India for Orphans in the hostel at Rajivnagar. However due to the political situation in India we have not been able to transfer any funds during the last financial year – These remain in a designated fund.

We continue to operate the Food Bank and Crisis Fund with the support of local churches, and individual donations. We manage this working with the other churches, local agencies and government organisations, and liaising with The Bridge Advice Centre. The objective is to give ‘a hand up’ and not just provide ‘a hand out’. We also assist with some homeless situations and the needs of people trying to return to work. We have provided some financial help where considered appropriate.

Contribution made by volunteers

All our activities are operating with the help of volunteers and are as listed below:-

4

BRIDGE CHURCH HAYLING ISLAND TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 24 Membership of The Brldge Church remain generally stable. The income from tithing and other donation5 generally is sufficient to cover expenditure. We are fortunate that the leader is flexible on salary, and has always maintained that the securlty of the Bridge Church is paramount. On this basis we remain in a good flnandal position. The Un￿StrICted fund balance at financial year end was £293.267, which was £9,004 higher than the previous year. Thls 15 primarily due to increased income from donations, £51,763 in total. up from £32,764 in 2022-2023. Expenditure did increase but was offset by the increase in income. The Bridge Church has remained in a good positlon to malntain the proposed level of reserves as in previous years. Thls covers the ability to maintaln the operatlon of The Bridge Church, and the Crisls Fund Food Bank and The Bridge Advice Centre. The policy has always been to cover the expenditu￿, exdudlng The BrTrdge Church leader's salary. Two months reserves are estimated at £7,300. The Charities Act 2011 and Charfty (Reports and Accounts) Regulations require the trustees to prepare financial statements for each financial year whlch glve a true and fair view of the state of affalrs of the charity and of the surplus of the charity for that period. In preparing those financlal statements the trustees are requlred to: • Select suitable accountlng pollcles and apply them consistently Make Judgements and estimates that a￿ reasonable and prudent Prepare flnanclal statements on the golng concern basis unless It Is Inapproprlate to presume that the charfty wlll contlnue in existence. The trustees are responslble for keeping proper accounting records, whlch dlsclose with reasonable accuracy at any tlme the flnanclal posltion of the charlty. They are also responsible for safeguardlng the assets of the charity and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularitles. The Trustees met formally two tlmes durlng the 2023-2024 Flnanclal Year. The trustee5 continued to hold numerous informal meetings, not all documented, to address appropdate day-to-day issues. The trustees conslder The Bddge Church is in a sound posltlon as we go fornard Into 2023-2024. Slgned on behalf of the trustees by Barry Klng Signature: Dated: g5.01. 2025

INDEPENDENT EXAMINERS REPORT TO THE

TRUSTEES OF THE BRIDGE CHURCH HAYLING ISLAND

Report to the members of The Bridge Church Hayling Island on the accounts for the year ended 31st March 2024 set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

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

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:

  2. proper accounting records are kept (in accordance with section 130 of the Charities Act); and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act;

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

Zita Derbak MAAT AATQB Independent Examiners Ltd 2 Broadbridge Business Centre Sign: Lb OD Delling Lane Bosham West Sussex Dated: 27.01.2025 PO18 8NF

6

BRIDGE CHURCH HAYLING ISLAND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Notes
FROM:
Donations and Legacies
2a, 8
Investments
2b
Charitable Activities
2c
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
3a
TOTAL
NET INCOME/(EXPENDITURE)
Transfers between funds
8,9
NET MOVEMENT IN FUNDS
Reconciliation of funds:
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
47,910
0
8,743
56,653
48,739
133
0
74
207
33
3,720
0
0
3,720
1,194
51,763
0
8,817
60,580
49,966
39,840
0
2,225
42,065
37,715
39,840
0
2,225
42,065
37,715
11,923
0
6,592
18,515
12,251
(2,919)
0
2,919
0
0
9,004
0
9,511
18,515
12,251
284,263
0
26,433
310,696
298,446
293,267
0
35,944
329,211
310,696

Movements on all reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.

The notes on pages 9 to 16 form part of these financial statements.

7

BRIDGE CHURCH HAYLING ZSLAND BALANCE SHEET AS AT 31 MARCH 2024 Unrestritted Funds Deslgnated Fund5 Restrfrted Fund5 31-MaTr24 31-MaTr23 Totsl Total Notes Fixed Assets: Tangible assets 406,867 406,867 406,867 Current Assets: Cash at Bank and In Hand Debtors and Prepayments 3,070 35,9 39,014 28,273 Total Current Assets Creditors.. amounts falling due within one year 960 960 900 Net Current Assets: 2,110 35,944 38,054 27,373 TOTAL ASSETS LESS CURRENT UABILITIES 408,977 35,944 444,921 434,240 Credltors: Amounts due In more than one year 7a 115,710 115,710 123,544 NET ASSETS 293 267 329 211 310 696 Funds of the Charlty General Funds Restricted Funds Deslgnated Funds 293,267 293,267 35,944 284,263 26,433 35,944 293 267 329 211 310 696 Approved by the Tnjstees on ... 2£ 01 2oZ£ Slgned on their behalf by Barry King, Trustee

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Basis of Preparation:

The financial statements of the charity have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP (FRS102)) and applicable accounting standards.

The Bridge Church Hayling Island meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Preparation of accounts on a going concern basis

Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

  1. ACCOUNTING POLICIES

  2. a) Donations:

Donations are accounted for gross when received.

Legacies are accounted for when their receipt is certain and can be properly quantified.

Investment income is included in the accounts in the year it is receivable.

The church does not make formal appeals for funds, and expenditure on these items is therefore not material.

The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are paid.

g) Fixed Assets:

Fixed assets are measured at cost.

Depreciation has not been charged on the land as it is assumed to have an unlimited useful life.

Depreciation has not been charged on the Church or Manse premises, because in the opinion of the Trustees, the residual value of the asset is not less than the original cost.

Depreciation on other fixed assets are calculated on a straight line basis over their expected useful life, at the following rates:

Computer Equipment 25% Music Equipment 25% Projection Equipment 25% Fixtures and Fittings 25%

9

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

i) Support Costs

Support costs not attributable to a single activity are apportioned between the significant activities being supported, on a basis consistent with the use of the resources.

2. INCOME FROM:
Notes
a) Donations and Legacies
Tithes & Gifts
8
Gift Aid Donations
8
Tax Refund
b) Investments
Bank Interest
c) Charitable Activities
Cafe Sales
Sundry Income		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
10,327
0
7,768
18,095
9,806
28,031
0
975
29,006
32,580
9,552
0
0
9,552
6,353
47,910
0
8,743
56,653
48,739
133
0
74
207
33
133
0
74
207
33
3,389
0
0
3,389
1,194
331
0
0
331
0
3,720
0
0
3,720
1,194

10

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

3. EXPENDITURE ON:
Notes
Direct costs
Cafe Purchases
Charitable Giving:
Charitable Help
Foodbank/Crisis
8
Resource Costs
Sub-total direct costs
Support costs
Premises
Bridge Advice Centre - running costs
Cleaning and Premises Expenses
Repairs & Maintenance
Utility Costs
Total premises costs
Staff costs and human resources
Salary Costs
Total staff costs and human resources
Administration costs
Administration Expenses
Equipment Expensed
License & Subscriptions
Refreshment Costs
Sundry Expenses
Website
Total administration costs
Governance costs
Accounts preparation & examination
Bookkeeping
Insurance Costs
Mortgage Interest
Total governance costs
TOTAL CHARITABLE ACTIVITIES
a) Charitable Activities		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
3,257
0
0
3,257
2,452
1,028
0
0
1,028
700
0
0
2,225
2,225
2,594
35
0
0
35
348
4,320
0
2,225
6,545
6,094
1,200
0
0
1,200
1,715
105
0
0
105
135
461
0
0
461
673
2,757
0
0
2,757
2,539
4,523
0
0
4,523
5,062
16,020
0
0
16,020
16,020
16,020
0
0
16,020
16,020
672
0
0
672
387
1,304
0
0
1,304
602
644
0
0
644
145
4
0
0
4
0
302
0
0
302
131
217
0
0
217
0
3,143
0
0
3,143
1,265
960
0
0
960
900
240
0
0
240
1,184
2,195
0
0
2,195
1,835
8,439
0
0
8,439
5,355
11,834
0
0
11,834
9,274
39,840
0
2,225
42,065
37,715

11

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Notes
Cost
01-Apr-23
Additions
Cost at
31-Mar-24
Depreciation
01-Apr-23
Charge
Depreciation at
31-Mar-24
Net Book Value
31-Mar-24
Net Book Value
31-Mar-23		 Land &
Computer
Music
Projection
Fixtures &
Buildings
Equipment
Equipment
Equipment
Fittings
Total
£
£
£
£
£
£
406,867
0
0
0
0
406,867
0
0
0
0
0
0
406,867
0
0
0
0
406,867
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
406,867
0
0
0
0
406,867
406,867
0
0
0
0
406,867
General Fund

Land and Buildings comprises:

Land at Beach Road, Hayling Island. Title number SH 46083.

Freehold 67 Beach Road, Hayling Island. Title number HP494305.

All fixed assets are used for direct charitable purposes. Some of the furniture, computers and equipment is used both for direct charitable purposes and the management and administration of the church.

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31 March 2024: £0

31 March 2023: £0

5. CASH AT BANK AND IN HAND
Bank accounts
Cash in hand		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
£
2,921
0
35,944
38,865
28,060
149
0
0
149
213
3,070
0
35,944
39,014
28,273
6. DEBTORS AND PREPAYMENTS
Gift Aid Tax Recoverable		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
£
0
0
0
0
0
0
0
0
0
0

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Independent Examiners Fees

Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
£
960
0
0
960
900
960
0
0
960
900

12

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

7.a) CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

Stewardship Church and Charity Lending
8. RESTRICTED FUNDS
CURRENT YEAR
India Fund
The Building Fund
Food Bank Crisis Fund
PRIOR YEAR
India Fund
The Building Fund*
Food Bank Crisis Fund		 31-Mar-24
31-Mar-23
£
£
115,710
123,544
115,710
123,544
Balance
Balance
01-Apr-23
Income
Expenditure
Transfer
31-Mar-24
£
£
£
£
£
13,348
375
0
419
14,142
8,823
133
0
2,500
11,456
4,262
8,309
-2,225
0
10,346
26,433
8,817
-2,225
2,919
35,944
Balance
Balance
01-Apr-22
Income
Expenditure
Transfer
31-Mar-23
£
£
£
£
£
£
14,001
-2670
2,017
0
0
13,348
0
0
10,025
-95
-1,107
8,823
0
0
4,160
-4,884
4,986
4,262
14,001
-2,670
16,202
-4,979
3,879
26,433
Opening Bal
Adj

*An adjustment of £2670 was made to India Fund closing balance at 31.03.2022 due to misallocation of income from general fund in the previous year.

India Fund: Funds collected are used to support the work of an orphanage in India and other projects and to finance the church leaders travel expenses to India.

The Building Fund: Money collected in order to fund the building extension.

**The Building Fund's £19,740 expenditure was spent on building improvement so it was capitalised, while £18,633 was transferred from Designated funds in 22/23 to result in £1,107 in transfer to general fund.

The Food Bank Crisis Fund: Money collected to help run the service, which also helps with homelessness.

The restricted funds of the charity are represented by cash reserves.

13

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

9. DESIGNATED FUNDS
CURRENT YEAR
The Building Fund
Food Bank Crisis Fund
*PRIOR YEAR
The Building Fund
Food Bank Crisis Fund ***
Tax Reserve		 Balance
Balance
01-Apr-23
Income
Expenditure
Transfers
31-Mar-24
£
£
£
£
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Balance
Income
Transfers
Expenditure
Transfers
Balance
01-Apr-22
In
Out
31-Mar-23
£
£
£
£
£
£
£
18,633
0
0
0
0
-18,633
0
5,910
-924
0
0
0
-4,986
0
135
0
0
0
0
-135
0
24,678
-924
0
0
0
-23,754
0
Opening
Bal Adj

***An adjustment of £924 was made to Food Bank Crisis Fund closing balance at 31.03.2022 due to misallocation of income from general fund in the previous year.

The designated funds of the charity are wholly represented by cash reserves.

The Tax Reserve Fund: Money set aside to pay a historic tax liability of our church leader which is no longer applicable, funds were moved to general fund.

Gross Wages and Salaries
Employer's National Insurance Costs
Employer's Pension Contributions
10. STAFF COSTS AND NUMBERS AND THE COST
OF KEY MANAGEMENT PERSONNEL		 31-Mar-24
31-Mar-23
£
£
16,020
16,020
0
0
0
0
16,020
16,020

As at the end of this financial year the Charity employed 1 full time staff member (as at the end of the previous financial year 1 full time) in the following areas:

Activities in Furtherance of the Charity's Objects 1
1
1
1

No employee received emoluments in excess of £60,000 during this year (31-Mar-23 - none). Staff are responsible for their own reporting to HMRC for tax and national insurance.

The key management personnel of the charity comprise the Board of Trustees and Church Leader. No Trustees are remunerated. The total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel of the charity were £16,020 (2022/23: £16,020)

The church does not pay pension contributions on behalf of any employee, although a stakeholder pension scheme is offered to those who wish to contribute. The staging date for auto enrolment date for the church was April 2017. A pension scheme is available to eligible employees and employer contributions will be budgeted for and will be made in accordance with legislation.

14

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

11. a.) CURRENT YEAR ANALYSIS OF
NET ASSETS BY FUND
Fixed Assets
Net Current Assets
Liabilities (due in more than one
year)
11. b.) PRIOR YEAR ANALYSIS OF
NET ASSETS BY FUND
Fixed Assets
Net Current Assets
Liabilities (due in more than one
year)		 Unrestricted
Designated
Restricted
31-Mar-24
31-Mar-23
Funds
Funds
Funds
Total
Total
£
£
£
£
£
406,867
0
0
406,867
406,867
2,110
0
35,944
38,054
27,373
-115,710
0
0
-115,710
-123,544
293,267
0
35,944
329,211
310,696
Unrestricted
Designated
Restricted
31-Mar-23
30-Mar-22
Funds
Funds
Funds
Total
Total
£
£
£
£
£
406,867
0
0
406,867
387,127
940
0
26,433
27,373
50,253
-123,544
0
0
-123,544
-139,787
284,263
0
26,433
310,696
297,593

12. PAYMENTS TO TRUSTEES, MINISTERS AND RELATED PARTIES

M Dennison, a related party to trustee P Dennison received salary payments of £16,020 during the financial year. (2022/23: £16,020). No payments were made to trustees or any other persons connected with them during this financial period. No material transaction took place between the charity and a trustee or any person connected with them.

13. RISK ASSESSMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024

15. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

16. PROPERTY EXTENSION

During the year ended 31st March 2020, Bridge Church, 67 Beach Road, Hayling Island has undertaken a significant extension and once finished the property was valued at £425,000. The Charity made a capital contribution of £140,000 and the remaining £150,000 costs was provided by a mortgage from Stewardship Church and Charity Lending secured on the Land & Buildings over a 15 year fixed term period at an annual interest rate of 7.5% making monthly repayments of £1,389. The mortgage commenced on the 25th November, 2019 with mortgage maturity on the 24th November 2034.

1 year
2-5 years
5+ years
Total Outstanding
Debt Maturity Analysis		 7,834
31,336
76,540
115,710

16