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2021-07-31-accounts

Charity Registration No. 1088234

Company Registration No. 03811286 (England and Wales)

THE BRIDGEMERE CENTRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

THE BRIDGEMERE CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr G Bunn
Mr C M Chapman
Mr A Hewitt
Mr J Oakey
Charity number 1088234
Company number 03811286
Principal address 100 Bridgemere Road
Eastbourne
East Sussex
BN22 8TY
Registered office 100 Bridgemere Road
Eastbourne
East Sussex
BN22 8TY
Independent examiner Colin Dadswell FCA ACCA DChA
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF

THE BRIDGEMERE CENTRE

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Statement of financial position 5
Notes to the financial statements 6 - 15

THE BRIDGEMERE CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2021

The trustees present their annual report and financial statements for the year ended 31 July 2021.

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 Memorandum and Articles of Association , 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)".

Objectives and activities

The charity's objects for which the association is established are for the benefit of the inhabitants of Bridgemere and the surrounding area, through the provision of a community centre for the recreation and other leisure time occupation of the said inhabitants in the interest of social welfare and with the object of improving their conditions of life. T here has been no change in these o bjects during the year.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Covid ensured that The Bridgemere Centre was not able to operate much of the year.

Our Centre Manager although briefly part furloughed was able to ensure that we were able to open safely when the brief lock down windows.

We kept contact with our various users, supporters and hirers and when we were able to finally re open properly towards the end of July a number of groups were invited to resume their activities.

Finance

Government grants and tight financial controls enabled us to survive the most difficult and frustrating time in the Bridgemere Centre history.

Annual Celebrations

We were unable to hold our annual celebration activities including the Community Carol Service and summer BBQ. It is hoped that we will be able have the 2021 BBQ in August.

Centre Manager

Our Centre Manager Viv Strudwick has been an absolutely essential part of keeping the Centre alive during this Covid time and will be a key factor in our recovery in the coming months.

Repairs and Renewals

Due to financial constraints only essential works were done. It is hoped that in this coming year we will be able to put new energies into obtaining grants to help with some refurbishment.

Financial review

The net incoming/outgoing resources for the year amounted to a deficit of £3,310 (2020: deficit of £13,860). The net movement in general application funds was £10,425 (2020: £95,222) whilst restricted funds decreased by £13,735 to £815 (2020: decreased by £109,082 to £14,550). General reserves at 31 July 2021 stand at £159,561 (2020: £149,136).

The general fund reserves have been reviewed and the current levels adequately safeguard the charity as we rebuild our income streams.

As a charity we remain committed to rebuilding / restarting the community activity we have worked so hard on over the past 20+ years.

THE BRIDGEMERE CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

Risk Review

The major risk to the charity is if Covid restrictions are re-introduced without Government support.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

There are many needs in the Bridgemere Community and we will work to meet as many of these as we can.

Finances will be very tight, as we rebuild our work we will need to continue to keep expenditure as low as possible and seek grant income to implement our refurbishment plans.

Volunteers will need to continue to play a significant part in the work of the Centre helping to staff the clubs and activities and maintain the fabric of the building.

Structure, governance and management

The charity is a company limited by guarantee in England and Wales incorporated on 21st July 1999, company number 03811286, and a charity registered with the Charity Commission in England and Wales, charity number 1088234.

Members of the management committee, who are also the directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements were:

Mr G Bunn Mr C M Chapman Mr A Hewitt Mr J Oakey

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 July 2021 was 4 (2020 - 4).

The trustees' r eport was approved by the Board of Trustees.

..............................

Mr G Bunn Trustee

Date: .............................................

THE BRIDGEMERE CENTRE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRIDGEMERE CENTRE

I report to the trustees on my examination of the financial statements of The Bridgemere Centre (the charity) for the year ended 31 July 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Colin Dadswell FCA ACCA DChA

Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: .........................

THE BRIDGEMERE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
21,319
4,836
Charitable activities
4
8,557
-
Investments
5
2
6
Other income
6
370
-
Total income
30,248
4,842
Expenditure on:
Charitable activities
7
22,158
16,242
Net incoming/(outgoing)
resources before transfers
8,090
(11,400)
Gross transfers
between funds
15
2,335
(2,335)
Net income/(expenditure)
for the year/
Net movement in funds
10,425
(13,735)
Fund balances at 1 August
2020
149,136
14,550
Fund balances at 31 July
2021
159,561
815		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
26,155
10,000
12,901
8,557
9,483
44,761
8
39
30
370
-
-
35,090
19,522
57,692
38,400
38,082
52,992
(3,310)
(18,560)
4,700
-
113,782
(113,782)
(3,310)
95,222
(109,082)
163,686
53,914
123,632
160,376
149,136
14,550		 Total
2020
£
22,901
54,244
69
-
77,214
91,074
(13,860)
-
(13,860)
177,546
163,686

The statement of financial activities includes 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.

THE BRIDGEMERE CENTRE

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2021

Notes
Fixed assets
Property, plant and equipment
11
Current assets
Trade and other receivables
12
Cash at bank and in hand
Current liabilities
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds		 2021
£
135
24,851
24,986
(2,065)		 £
137,455
22,921
160,376
815
159,561
160,376		 2020
£
-
25,016
25,016
(2,782)		 £
141,452
22,234
163,686
14,550
149,136
163,686

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

..............................

Mr G Bunn Trustee

Company Registration No. 03811286

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

Company information

The Bridgemere Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 100 Bridgemere Road, Eastbourne, East Sussex, BN22 8TY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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 charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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 concern 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised when a constructive obligation exists, the payment is probable and the obligation can be measured or estimated reliably.

Resources expended include irrecoverable VAT .

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies (Continued)

1.6 Property, plant and equipment

Property, plant and equipment 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 write off the cost or valuation of assets less their residual values over their useful lives on the following bas i s:

Freehold land and buildings 2% Straight Line Portacabin 20% Straight Line General Equipment 25% Reducing Balance Motor vehicles 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined 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 non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 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 charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables 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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts 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 payables 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 payables 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.

1.10 Employee benefits

The cost of any unused holiday entitlement 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.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
550
-
Government grants
20,769
4,836
21,319
4,836
Grants receivable for
core activities
Government grants
17,907
-
HMRC Job Retention
Scheme
2,862
4,836
Other
-
-
20,769
4,836
Charitable activities
Breakfast & After School Club Fees
Centre Hire
PRS Tariff
Sundry Income
Analysis by fund
Unrestricted funds
Restricted funds		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
550
-
-
25,605
10,000
12,901
26,155
10,000
12,901
17,907
10,000
-
7,698
-
-
-
-
12,901
25,605
10,000
12,901
2021
£
-
8,291
90
176
8,557
8,557
-		 Total
2020
£
-
22,901
22,901
10,000
-
12,901
22,901
2020
£
44,483
8,845
272
644
54,244
9,483
44,761

4 Charitable activities

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

5 Investments

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Interest receivable
2
6
Other income
Net gain on disposal of tangible fixed assets		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
8
39
30
Unrestricted
funds
2021
£
370		 Total
2020
£
69
Total
2020
£
-

6 Other income

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

7 Charitable activities

Staff costs
Depreciation and impairment
Acorn expenses
Catering costs
Cleaning costs
Equipment & Materials
Licences & Subscriptions
Motor Vehicle Expenses
Office Costs
Rent & Rates
Repairs & Maintenance
Sundry Expenses
Telephone Costs
Travel & Subsistence
Utility Costs
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2021
£
24,992
3,497
-
(118)
82
-
721
-
1,168
-
793
803
1,085
-
2,105
35,128
3,272
38,400
22,158
16,242
38,400		 2020
£
51,470
3,664
46
5,582
432
2,176
909
1,924
1,389
12,467
682
338
1,135
100
4,087
86,401
4,673
91,074
38,082
52,992
91,074

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

8 Support costs

Support
costs
Governance
costs
£
£
Legal and professional
-
-
Insurance
-
1,832
Independent Examiner
Fee
-
1,440
-
3,272
Analysed between
Charitable activities
-
3,272		 Total
2021
Support
costs
Governance
costs
£
£
£
-
-
647
1,832
-
2,586
1,440
-
1,440
3,272
-
4,673
3,272
-
4,673		 Total
2020
£
647
2,586
1,440
4,673
4,673

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
3 11
Employment costs 2021 2020
£ £
Wages and salaries 24,820 51,470
Other pension costs 172 -
24,992 51,470

During the year redundancy payments of £10,815 were made, following the closure of our Breakfast & After School Club.

There were no employees whose annual remuneration was more than £60,000.

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

11 Property, plant and equipment

Freehold
land and
buildings
Portacabin
General
Equipment
Motor
vehicles
£
£
£
£
Cost
At 1 August 2020
174,874
5,000
13,642
8,000
Disposals
-
-
-
(8,000)
At 31 July 2021
174,874
5,000
13,642
-
Depreciation and impairment
At 1 August 2020
33,922
5,000
13,642
7,500
Depreciation charged in the year
3,497
-
-
-
Eliminated in respect of disposals
-
-
-
(7,500)
At 31 July 2021
37,419
5,000
13,642
-
Carrying amount
At 31 July 2021
137,455
-
-
-
At 31 July 2020
140,952
-
-
500		 Total
£
201,516
(8,000)
193,516
60,064
3,497
(7,500)
56,061
137,455
141,452

In 2019-20 the Bridgemere Centre completed the purchase of the freehold which is included in freehold additions. The brought forward freehold costs and depreciation represents the cost of property improvements and depreciation in previous years. These costs were incurred when the building was a leasehold however these are now included under freehold costs.

12 Trade and other receivables

Amounts falling due within one year:
Other receivables
13
Current liabilities
Other payables		 2021
£
135
2021
£
2,065		 2020
£
-
2020
£
2,782

14 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £172 (2020 - £-).

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 August 2019

£
Big Lottery Grant
815
Breakfast and After School Clubs
16,694
Bridgebuilders
2,023
EBC Grants
24,100
Evangelical GEM Fund
20,000
The Building Fund
60,000
123,632		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
1 August 2020

£
£
£
£
-
-
-
815
57,454
(52,992)
(8,001)
13,155
238
-
(1,681)
580
-
-
(24,100)
-
-
-
(20,000)
-
-
-
(60,000)
-
57,692
(52,992)
(113,782)
14,550		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
4,842
(15,642)
-
(600)
-
-
-
-
-
-
4,842
(16,242)		 Transfers
Balance at
31 July 2021
£
£
-
815
(2,355)
-
20
-
-
-
-
-
-
-
(2,335)
815

The Big Lottery Fund grant is the remaining amount of a grant received in 2015. The remaining balance has been earmarked for a new PA system.

The Breakfast and Afterschool Club Fund income is from fees paid by parents for the childcare provided at the club. The expenditure on the club is mostly for staff salaries. Following the closure of the club, the balance on this fund has been released.

The Bridgebuilders Fund is money held for a club for young adults with learning difficulties.

The EBC Grants Fund, Evangelical GEM Fund and the Building Fund were set aside for the purchase of the freehold. These funds were transferred out in 2019-20 to enable the purchase to be completed.

THE BRIDGEMERE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

16 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances are represented by:
Property, plant and
equipment
137,455
-
Current assets/
(liabilities)
22,106
815
159,561
815		 TotalUnrestricted
funds
Restricted
funds
2021
2020
2020
£
£
£
137,455
141,452
-
22,921
7,684
14,550
160,376
149,136
14,550		 Total
2020
£
141,452
22,234
163,686

17 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .