Charlty Regt5tration No. 1111920 Company Registration No. 05572861 (England and Wales) BRADNET ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 'AAKIXE9F* 24112f2021 COMPANIES HOUSE
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BIIADN LEGAL AND ADMINisfRAnVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021 Trustees Abid 8ashir Ichairl Kurshid Saddique Ibrar Hussain Charity number 1111920 Cornpany number 05572861 Principle address Wright Watson Enterprise Centre Thorp Garth Bradford BDIO 91D Re8iStered office Guardian House 22 Manor Row Bradford 8014au Accountants Torevell DeTht Ltd 1- 3 St Ann's place Pellon Lane Halifax HXI 5RB
BIIADNET CONTENTS FOR THE YEAR ENDED 31 MARCH 2021 Paffe Tru5tees' Report Trustee Resptsnsibilitie5 Independent Examiftèrs Report Statement of Financial ActNtknes 8alance Sheet Statement of Cash Flow io Note5 to the Financial Statements 11-17
BRADNET TRUSTEE REPORT R THE YEAR ENDED 31 MARCH 2021 L Structure Govèrnantè and Man em Èradnet is a rompany limited by guarantee incorporated on 23 September 2W5 with company number 05572861. The Company was established under a Memorandum and Articles of Association which form Bradnet's '8ovefning documents-. Bradnet is also a charity reElStered on 14th November 2)5 with charity number 1111920. A¢cofdingly. Ihe Board of Oirector5 of the company are also its trustees for the purpose of charity law" however, throughout this report they are Collectively referred to as"Directors-. The Dlreclors.. Nam¢: A Bashir K Saddique l Hussain Start Date: 3110712018 2610912018 3110V2019 8radnet's Board of Dirertors is responsible for the strategic dirertor and sound overall management of Bradnet. The 8oard of Direuors has members from a variety of professional background5 and experience of disability relevant to Bradnet's eihos and work. The Directors meet about every 6 to 8 weeks to discuss and decide upon strategic and business matters. A scheme of dele8ation 15 in place and day-ttrday responsibility for the provision of the services rest with the Chief Executive supported by the Care Manager and Finance Officer. The Chief Executive Is fesponsible for ensuring that BradnÈt dèlivers the servites ihat have been commissioned or funded and that key perf0rrnan indicators are met. Our bankers.. Lloyds Bank. Bradford City Office 45, Hustlergate, Bradford, 8DI INT Our accouniants- Torevell Oent Ltd, 1-3 St Ann's Placè. Pdlon Lane. Halifax. HXI SRB. Bradnevs Vision Alms and Mlsslon Bradnevs vision is that society should be truty indUsp with disabled people being trèated as equal cTrtizens. Bfadnevs Mison is: ryo promote equalltyand Inclw5ion w•th dis•bld peopk". BradneY5 aim is.. empower all dlsabled people to hwe chol¢e and control o¥er theSr Il¥es and achleve real Independen and quality of life". Bradneys values are that 8radnet 15 comrnitted to make a positive diffÈrence io all the people we work for and with. To promote and achieve our rnissi¢)n we will continue lo= En8a8e with all Bradnet people to design and deliver petsonalised Quality services. Enable 8radnet people to maintain di8nity. independence, exchanging respect and buildin8 trust. Empower all Bradnet people to hJ¥e informed ¢hoi¢e and ¢ontrol overtheir lives within their communities. Enrith all Bradnet peoplÈs' life experrences. encouraging access to nèw opportunities.
BRADNET TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2021 sob cttves and A(rf¥15 Bradnet will involve disabled people in the plannin8 and delivery of Bfadnevs services and projects Bradnet will champion the right of every disabled person to challenge discriminatory or oppressive practice from a lightsased approach 8radnet will use the knowledge gained from its direct work with disabled people to campai8n for equaSitv and inclusion of disableil people at all levels Bradnet will support. inform and advfKate fi)r every disabled pèrson and eTrhan hrs/her capacity to be independent. have improved life chances. reduce isdation and raise aspirations. 4. Achie ments an rfom)an The past year ha5 been anolher thallenging one but as with all areas of life currently. the pandemic has had a major irnpact on delivery and ambilions for growth. Like many organisations with modest re50urce5. the overall aim has beeft to continue to suThive and have enough capacity at the other end of the prevailine health cri51S to regenerate and grow. The social care arena is under greai strain naiionally due to diffitulties ol re¢ruitment and retention. and locally we are continuing to experien obstacles to recruitmeni due to people having taken up other employment. not bein8 interested in a care career or a pool of lifflited talent with all tompetitors tryin8 to recruit at the same time. The pandemic has meant that there has been slow progress in thè toniinuing quest to align resources and support following the merger with Inspired Neighbourhoods Community Trust IINCTI in 2018.. much of this has been completed but the IN continues to evolve successfvlly and so the operational and functional aspecls of each entity within the group is e¥ofving organically. Thefe has been a slower turno¥er of staff compared with last vear and therefore the drive to improve quality and control is gradualty resultin8 in a core team that has continued to show loyalty and commiiment. Such commitment and dedication wa5 very evident during the height of the p3ndÈmic when staff continued to attènd care sessions despite the clear risk of infection. In term5 of an improved service user experience. feedback has indicated general satisfaction with the quality of service received. with consiructive comments taken forward for improvin8 communication and devèlopment. Equally, the PAS have expressed satisfaction with the fact that they have found the Registered Manager approachable and supportive and. whilst the demand for more work is hard to fulfil with limited 8iOWth, the PAS have continued to demonstrate ¢ommilment and dedication. Obviously many of the ambitions of last year for improving seNice user and staff engagemeni as well as the increased profile of 8radnet's work have suffered a setback due to the pandemic- it was hoped that pro8ress would be made to connect with local organisatir*ns and stakeholdefs to develop partnerships for referrals for care and support. but this has been difficult against the background of many organisations being short-staffed and being unable to pro8re5s initiatives due to fundin8 or ¢apacity. Thu5, disappointingty there has been little overall growth. rather there has been a concentration on consolidation and protettion. However, it is hoped that in the next year the external environment will irnprove and BradThel will achieve modest 8rowth. Nevertheless, despite the challenges presented by the pandemic. Bradnet ha5 hèd various exploratory discussions with potential partners which have either ended or are Still ongoing.
TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2021 Achknments Rtinued With the aim of diversifwng income Jnd bringlng additionality to our services we lodged and succeeded in a tender to deliver a daytime activitie5 service. This has had a very slow stsrt. firstty due to the lockdown restriction5 not bein8 femoved until laie July and. secondly, internal capacity had to be redirected to 5UPPOrt Bradnet following the departure of the Registered Manager. Wrth the appointment of a new Regt5tered Manager it És hoped to redouble Ouf efforts to develop and deliver this servKe. It will need a detailed schedule of adivity including outreach and engagement with Social Workers and other agencies and devising and delivering a variety of activities which are accessible and rewarding for different types of seryice users. It is a 10-year programrne 50 It ha5 great potential for innovative activities and steady income. A lot of hard work has gone into gettin8 control of Bradnet's finances.. previously with a high turnover of staff and frequent ¢hanges it was difficult io gain an understanding of income and expetiditure. now a root and branch review of contracts and commitrnents ha5 resulted in a ¥ery'lean, mean and keen. finance function and operational delivery. There 15 Still much to do in ensuring a solid foundation for growth but the key factor is that there are now no unknowns re8ardin8 Bradnet'5 finantes. The overall consolidation of commitments has resulted in a modest surplus compared with a defiat of £7,000 in the previou5 yeaf.. with careful monitoring and regulating of all ovtgoing expenditure and constantly attempting io increase revenue by the whole Bradnet tearn we seem to be in a much better position than we were just 18 months ago. The following are just some brief points t¢ hi8hli8ht the improvernents in our finan¢es= We started the new financial year with only a small deficit of just over £SLKI, though even this can be seen as positive. considering we were paying off historic HMRC debt and our DWP grant was still pendin8 In the following months. except for May deficit of £2.269. the finances have been steadily improving. The May deficit was due to the historic HMRC debi and Bradnet returning £2,500 to INcr 3. June. Juty and August have been very promising.. we have been steadity increasing our Surplus, although August surplus. which is showing as £15.763 has a taveat as in this month it hai bèen boosted due to Bradnet receiwng all our backdated payments from DWP In July wè patd our last instalment to HMRC toward5 Outstanding PAYE dèbt acuued durin8 the financial vear 2019-20. We are n¢)w total debt-free Throughout the year we have lod8ed Various funding bid5 to fund some of our actNities,' none of these have been successful bui it shows the difficult climate for grants due to the great demand. In conclusion, as always Bradnei represents a major opportunity to devek)p something great within the health and social care arena that is local and user4ed.. however. as always. we need lunding and good staff. Thè difftculty of securing grant fvnding thi5 ytar dèsprte several funding bid5 illustratès the challen6in8 external environment. and the ongoing search for quality personnel shows the under-funded state of the health and social tarè field in artfactln8 80(Kf people with the rrght level of reward. HowÈver. with the merger with INCT we all remain confident of the future. I would Itke to end by thankin8 all ihe staff for therr hard work over the year. and my fellow Irustees for their valuable time and commitment.
BRADNET TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2021 Fundraisin Durin8 this year we have received a new grant from the Power to Chan8e Trust to enable Bradnet to purchase the former Bradford Registry Office and for business delopment. We also received a grant from National Lotteries Awards For All to undertake primary research into the needs of disabled peoplè for an Outreach service so thal we can develop thi5 servTrte in response to current need5. It is clear that the grant-making environment Continues to be very difficult. as many applications to trusts have been un5Utcessful. We continue to look for fvndraisin8 QPPOrtunities so that capital works can be carried out at Guardian House. Related Partles Bradnet remains committed as alway5 to work in partnership with local statutory and voluntary agencies, as this avoids duplicaiion and maximises valuè for money for funders and the Commun at large. We seek partnership other agencies in Bradford to provide added value Services to our service users and bring much needed inward investment io Bradnet. 7. Risk Mana ement The Board continues to manage risks on regular basis to protect the or8anisation and Servi users. Due to a decreased service user base our income has 518nificantly decreased. We havè to improve our operational business io generate in¢ome to be more 5UStsinable in longer tem. The Trustees continuè to exer£isÈ robust controls to remedy operational challenges by adoptin8 robust approaches to implement tighter financial controls. business planninE Iwhbch will incorporaie a SWOT analy51S nd ¥isk managernentl. implemeniing a Fundraising 5trateey and applying for further funding. succession plannin& use of expert advice and the implementation of more rigorou5 recruitment and selection procedure5 IOT recTUltin8 Staff with the appwopriate skills Sets.. the intrcrflu¢tion of further 5tatt benefits to retain staff. Reser4es Poll The Trustee5 have examined the companWs requirements for reseryes in light of the main risks to the company. Investment Poll In current financial climate Bradnet will not be 5eekin8 any additional investment. It need5 to focu5 On realising Guardian House as an asset that is income generating. To achieve thi5. we have engaged various experts to obtain investment advice. This will be reviewed by the Tru5tee5 before any commitment is made so that the rlsk to Bfadnet as an organisation is reduced.
BRADNET TR STEE REPORT FOR THE YEAR ENDED 31 MARCH 21 rectors 10.1 Responsibilities of the Dirertors Company law requires the directors to preparè financial statements for each financial year which give a true and fair view of the state of the affairs of thè tompany as at the balance sheet date and of its incoming re50urre5 and application of resources. including income and expenditure, for the financial year. In preparing those financial statements, the Directors should follow best practice and.. al SelÈrt Suitab attounting policies and then apply them con5t5tently- bl Make jud8emenis and estimate5 that are reasonable and prudent- cl Prepare the financial statements on a going conrn basis unless it 15 inappropriaie to assume that the company will continue on that basis. The Directors are re5pon5ible for maintsining proper actounting records which dtsdose with reasonable accuracy at any time Bradnet's financial position. and to enable them to ensure that the financial statements comply with the Companies Act 21. The Director5 are also responsible for safeguarding the a55ets of the company and, hence, for taking reasonable steps for the prÈvèntion and detection of fraud and othèr irregularities. 10.2 Certlllcatlon by the Mernbers of the Board of Directors Members of the Board of Dirèrtors, who are Direttors for the purpose of company law and trustees for thè purposes of charity law. who served during the year arld up to the date of this report are set out on page l of this Annual Report. In accordance with company law. as the compan(s Dirertors, we certtfy that-. I So far as we are aware there is no relevant inforfflation of which the company's at¢ountants are unaware; and bl As the Directors ofthe company we have tsken all the steps that we ought to have taken in order to make our5el¥es aware of any relevani information and to establish thai the compan(5 ac¢ountants are aware of that information. 10.3 Accounting Prindples and Authorisatlon The Financial Statements have been prepared in accordance wrth the Statement of Rewmmended Practice: Accounting and Reporting by Charities (issued March 2005 by the Charities Commission) and In accordance with the special provisions of Part 15 of the Companies Act 2C()6 relating to small entities. and Bradnefs governing documents. Approve directors on 15 December 2021 and signed on its behalf undèr dèlegated authority by= Abi ashir Chairperson
BRADNET STATEMENT OF TRusfEES' RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2021 The trustees are responsible for preparing the Annual Rèport and the financial statements in accordante with applicable law and United Kingdom Generally A(pted Accountin8 Pr•rtice. The trustees are required bycompany law to prepare financial statements for each financial yearwhich 8i¥e a true and fairviewof the financial activitiesof the charity and of itsfinancial position atthe end of that yèar. In preparing those financial statements the trustees are required to= al Select suitable accounting policies and appty them consi5tentlv bl Make adjustments and estimates that are reasonable and prudent cl State whether the policie5 adopted are in accordance with the Companies Act 26 and with applicable accounting standards and statements of recommended pr3cti¢e. subject io any material departures disclosed and explained in the financial ststements dl Prepare the financial ststements on a 8oin8 concern basi5 unless it is inappropriate to assume that the charity will ¢oniinue in operation The trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements cornply with the Companies Act 2th)6. They are also responsible for safe8uardin8 the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINERS REPORT TO ThE TR ES OF BRADNET FOR THE YEAR ENDED 31 MAR H 2021 I report to the charity trustees on my examination of the a¢¢ounts of the Company for the year ended 31 March 2021. Re5ponslbllltles and bas15 of report A5 the chariVs trustees of the Company land also its dirertors for the purpose of company lawl you are responsible for the preparation of the accounts in accordantt with the requirements of the Companies Act 2006 I'ihe 2(6 Acrfl. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are Èligible for independent examination. I report in rèspect of my examination of your charltvs atCOLFnts as carried out under section 145 of the Charities Art 20111.the 2011 Acfl. In carrying out my examination I have followed the Dtre¢iions given by the Charity Commission under section 1451$) Ibl of the 2011 Act. Independent examlnees Statement l ¢onfirm thai i am qualified to undertake ihe examination because l am member ofACCA. which Is one of the listed bodies. have completed my examination. I confirm that no rnaiters have come to my attention in connection with the examination giving me cause to believe: Actounting records were not kepi in respect of ihe Company as requlred by sècti¢)n 386 of the 2C The accounts do not accord with those records,. or The accounts do not comply with the actounting requirements of 5ÈCtion 396 of the 2¢X)6 Act other than any requirement that the accounts give a'irue and fair view whkh is not a rnattèr Considerèd as part of an independent examinaiion- or The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin8 by charities lapplicable to charitie5 preparin8 their atcounis in acc¢Ydan¢e with the Financial Reportin8 Siandard applicable in the IJK and Republic of Ireland IFR5 1021. I have no concerns and have come across no other matlers in connection with the examinaiion to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. mantha. J. Sutclrffe FCCA Torevell Dent Limited Chartered Certified Accountants 1- 3 St Ann's Plate Pellon Lane Halifax HXI 5RB Date IS December 2021
BRADNET STATEMENT OF FINANCIAL AcnvmES INCLUDING INCOME AND EXPENDtTURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unre51rKled Funds Restrkt*d Funds Total 2021 Total 2020 Note5 Incorne and endowments from: Donations and legacies Charitable activities Other income 344.342 8.383 344.342 8,383 457,909 11,486 Total Income and endowments 352.726 352.726 469395 eftdftufe on: Charitable activitie5 392.973 392,973 557.277 Total resources expended 392,973 392,973 557.277 Net lexpendilurelllncorne for th• year {40,247) 140,2471 {87W31 Transfer bÈtween fvnds FLFnd balance brought forward 152.589 152.589 240,472 Fund balances ¢arrfed frywafd 15 112342 112.34Z 152,589 All Income and eMpendSture derlwd from contJnulng artlvllie5. The ¢harityhas no reco8ni5edyin5 or losses for the year otherlhan the re5utts above. The tM)tes on pays 11- 17 form an Inle8ral part ofthese fffian¢lal statemen
BRADNET BALANCE SHEET AS AT 31 MARCH 2021 20 2020 Fixed assets Tangible asseis Investments io 34,650 385.008 34.651 385.009 Current ass Debtors Cash at bank and in hand li 5.841 6,324 14.146 837 12.165 14,983 Creditors: amounts fallln Due within one year 12 11.6741 197.628) Net current Iliabilitie51 assets 110,4911 182.6451 Total a55ets léss current Llabllltles 45,142 302.364 Credltors: amounts falllni Due after more than one year 13 67,2(X) 1149,7751 Nèt assets 112342 152.$89 Income fvnds Gèneral unfestricted funds Restrirted funds 112.342 152,589 Total lunds Iiia42 152.$89 For the financial year in question the company wa5 entitled to eXeMptn under section 477 of the Companies Act 2006 relaling to small companies. No members have required the company to obtain an audit for the year in question in accordance with sertion 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small cornpanies, regime. Th flnanci tatemen ere approved by the l)oard of directors and authori5ed for issue on 15 21a are signed on its behalf by.. em Tru Company Registration No. 05572861 ee The notes on pazes 11- 17 form an Inte8ral part of these financial stalements
BRADNET STATEMENT OF CASHFIOW AS AT 31 MARCH 2021 Funds Funds Cash Ilows ffoffl operatky acll¥ities: Pletcosh providedty (usedin) opero¢thg qthryties osbelow 116.0951 1273281 Cash flowsfrom in¥estln8 a¢ti¥itles: Purchase of property. plant and eouipment Proceeds from Sale of property. plant and eouiprnent 296.249 et ¢ash prowmed bylu5ed Inl Irt¥esli arth Z%.249 Cash fiowsfrom financing artiwtie5: epayments of borr¢)wing Cash inflows from new boriwng 1227.8261 133.5871 64.IC¥J Nettoshprovrdedby {used inlfiMncin9 artivitie5 {227J26} 30.513 Chongein eojh ondcosh eq¥lvolents in the rewrdngperA 3.185 Cash and cash equN6lents at the be8innin8 of the rewrtlll8 Period 146,CrfMI 149.18BI Cash •nd ush equl¥alents •t the end •f the reportini perlod 6324 I4604) Recon¢illation of net incomel (expenditure) to net cash Ilow From operatlnt artlvtties: Net inCome/lexpeAdirejfv the reptrrtirtg Neiiodlos the Stotefflentoffvwnciolacrfvltksj 1403471 187J831 Adjustmentsfor: Depreciation char8es L05s on sale of fixed assets Increasel Idecreasel in debtors Decrease/ lincreasel in creditors Decrea5e/ Increase ifi deferred Incorne 6.260 47.849 8.304 138.261) 14.987 1,525 23,263 20.780 Plet cash provlded by (used Inl ¢werakngathitses 116.0951 127.3281 The notts pay$ 11- 17 forn1 integral part ofthes* fmantial ststements io
BRADNEr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IWARCH 2021 Accountlng polkles Conwany Informa0 Bradnet is a private company limited by guarantee incorporated in England and Wales. The re8iStered is Guardian House. 22 Manor R¢)w. Bradford. BDI 4QU. Accounting conventloTr ThEse accounts have been prepared in accordance with FRS 102 The Financial Reportin8 Standard applitable in thÈ UK and Republic of Ireland" I-FRS 102.1. -Accounting and Reportine by Charities~ the Staternent of Recommended Prattice fof charities applying FRS 102. Ihe Companie5 A(t 2006 and UK Generally Accepted Accountin8 Practice a5 It applie5 from l January 2015. The accounts are prepared in sterlin8. which is the fvnctional currency of the ¢ompany. Monetary amounts in these financial staternenis are rounded to the nearest £. The accounts have been prepared on the histor31 cost ffjnventh)n. The principle accounting policies adopted are set out below. GOI ¢ontn following the Care Quality CL)mmission's last vIeW ICQCI fvture funding is celarive1y rnore predictable. even in the presence of wholesale cuts and rnarket pressures. Moreover, 8ratlford Council still retains confidence in commissi¢)nin8 Bradnetto deliver care. and other funders such as 818 Lottery arecontinuing io make grants for capital and revenue projects. Thus. thetrustee5 coniinue to adopt the goÉn8 concern basis in preparinR the accounts and ar the time of approving the accounts. As an or8anisat¢on we need to start lo explore options forsustainability including associated Health and Social Care work. 13 Charltable funds Vnrestritted funds are aVailae for use at ihe discretion of the trustees in furtheranceof their charitable objectives vnless the funds have be designated for other purpose5. Restricted funds are those donated for use in a particular area or are for specific purposes. the use of which is restricted to that area or purpose. IA Incorne Income 15 recogni5ed when the charity is te8allyentitled to r( afterany perfomancecondilions have been met. Ihe amounts can be rneasured feliably. and it is probable that irKornE will be retei¥ed. Cash donation5 are re¢o8nised on receipt. Other donations are recognised once the charity has bee notified of the dohaiion, unless performance conditions require deferral of the amount. Income tax recoverable in relation to tklnations under Gift Aid or deeds of covenant is recogni5ed at the tirne of the donation. Turnover is measured ai the fair value of the cons¢deration received or receivable and represents amounts receivable for goods and service5 provided in the normal course of busine55, net of discounts. VAT antl other sales rded taxes. Resources expended Resources expended are reco8ni*d in the perth in which they are incurred. Resource5 expended are allocated to the particular activity where the cost relate5 directly to that activity. Overhead expendifure has been aliocaied between the c05t centres of Re50urce5 Expended in accordance with the usage of the ssets. li
BIIADNEr rioTES TO ThE FINANCIAI STATEMEfiTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting polld¢s lcontsnyedl Tangible fixed assets Tangible fixed assets are initially measured ai cost and subsequently measured at Cost or valatiOn, net of depreeiation and any irnpairrnent losses. Depfeciaiion 15 recoenised so as to write off the cost or ¥auatioD of as5et5 le5S their residual values over their useful INes on the followng bases-. Land and buildin8$ Fixtures. fittings & equipment 2% strai8ht line 25% reducing balance The gain and loss arising on the disposal of an asset is determined as ihe difference between the Sale proceeds and the tarrying Value of the asset and is recoenised as rt incomellexpenditurel forthe year. lrnpairfflent of fixed assets At each reporting end éate. thetharity rewews thecarrying amounts of irs tangible and intangible assets to determine whether there is any indication ihat those assers have suffered an irnpairment105s. 11 any such indication exists. the recoveraWe amount of the asset is estimated in orderto determine the extent of the impairrnent loss lif anyl. Recoverable amount is the hiKherof fairvalue less costs to Sell and value in use. In assessine value in use, the estimated future cash flows are discounteil to their present value using a pre-tax discount rate that reflect5 current rnark as5e55rnents of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an assei is estimaied to be le55 than its carrying amount. the carrying amount of the asset is reduced to its recoverable amount. An impairrnent10ss is recogniseLI immediately in incomelexpenditure forthe year. unless the relevant asset is carried at a valued amount. in which case the impairrnent1055 15 treated as a revaluation decrease. Recognised irnpairment losw are reversed rf. and onty if. the reason5 for the impairment ths have ceased to apply. Where an impairment loss subsequently reverse5. the carrying amount of the asset is increased to the revised estimate of its recoverable amount. but so ihat the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised forthe asset in prioryears. A reversal of an impairment10ss is recognised immediately. unless the relevant asset is carried in at a revalued amounL in which case the reversal of the impairment loss is treated a5 a fthfaluation increase. Cash and cash eguivalefvts Cash and cash equivalents indude cash in hand. deposits held with bank5. Other short-term liquid invesiments (with ofiginal maturities of three months or less) and bank overdraft5 are shown within borrowings in currertt liabilitie5. FanCIal instruments The trust onty has f¢nancial assets and financial lialilmes of a ksnd that qualify as basic finantial instruments. Basic financial instruments are initially reco8ntsed * transaction value and svbsequentlv rrieaSU at their settlement value wTrih the exceffjion of bank aS which are subsequently rneasured at amortised cost using the effective interest method. 12
8RADNEr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl i.io Employee beneffts The cost of any unused holiday entitlement is recognised in the period sn which the employee's services are received. Terrnination benefits are recognised irnrnediatety as an expense when the company is dernonstrablv committed to terminate the employrnent of an ernployee or to provide terrnination benefits. 1,11 Pen$40ns The charity operates a defined contribution PenSn scheme. Contribution5 ore thar8ed ifi the Staternent of Financial Attiviiies as they becorne payable in accordance wr(h the rules of the scheme. Donatlons and le¥acles 2021 2020 Grants receNable Charitable arti¥ilies. Inc¢Kne 2021 . 2010 Sales within charitable attiviiies. 344.342 457.909 Other income 2021 2020 Other income 8.383 11,486 8.383 11.486 Totsi Intome-Analy515 by Fund 2021 2020 Vnre5tricted funds. Restricted 352,276 469,395 352.726 469.395 13
BRADNEr NOTES TO THE FINANCIAL STATEMENfs FOR THE YEAR ENDED 31 MARCH 2021 Charitable actlvttles 2020 Staff cost5 (See note 71 Depreciation and impairment L05s on Sale of ass*s 259.403 6,260 47.849 399.692 14,987 l.S25 313.512 416.204 Share of support costs Isee note 91 Share of governance costs Isee note 91 79.461 141.073 392.973 557.277 Anafysty of total expenditure byfvnd Unre5tritteé funds Re51ricted funds 392.973 557.277 391973 557277 14
BRADNET NOTES TO THE FINANCIAI STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 Staff iosts Staff costs during the year were= Total 2021 Totsl 2020 Wa8es and salarie5 Social security costs Other pension costs 226.874 29.138 3.391 356.959 38.674 4.059 259.*103 399.692 The average nurnber of persons (Intlling sefiiof management team) employed during the year based on actual numbers was as follows= 2021 2020 Charitable Ac1i¥itie5 Interna1 staff 59 io 59 io 69 Trustees expenses No expenses We relmbued to trustees durin8 the year.12020- Nill. Support tosts Suprn Go¥ernan¢e Costs Costs 2021 Total 2020 Totsl Bas15 of allocatio Premlses costs Office cosis Staff lated costs Finance costs Marketing Accountanry services Consultancy Legal and professional Sundry expense5 11.975 15.908 360 9.814 11.975 15.908 34,754 AlatiOn on time 44,828 AltatiOn on time 7.019 Allocation on time 5,087 Allocation on time 828 Allocation on time 13.489 Allocation on time 19.4CQ Allocation on time 11.456 Allocation on time 4.212 Allocation on time 9A14 299 1.732 435 35.307 3.631 1.732 435 35.307 3,631 79.461 79.461 141.073 15
BRADN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 io Tanglble fixed assets Land and euldin Flxturts in15 & Equipment Total At l April 2020 Additions Oisp05315 468.tsi 89.944 558.(5 1366.0621 1366.0621 At 31 March 2021 102.059 89.944 192.CQ3 Depredatlon and ImpairffleThts At l April 2020 Depreciation charged for the year Depreciation Elim on Disposals 99.991 2.041 121,9641 73.066 4,219 173.057 6.260 121.9641 At 31 March 2021 77.285 157.353 Cartyn¢ amount At 31 March 2021 21.991 12.659 34,650 At 31 March 2020 368.130 16.878 385.(8 The disposal within land and I11185 refers to the sale ol Gvardian House which. as llected in the rinancial records. was sold during the year ended 31 March 2021. Due to a delay in the submission of documerntation by the soliciior. thi5 transfer is not noted at ihe Land Registry until the financial year ending 31 March 2022. 11 Debto 2021 2020 Trade debtors Amounts due from 5ub5idiary undertaki Taxation 8.303 5.843 5,841 5.841 14,146 16
BRADN NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 MARCH 2021 12 Cr•ditor$: Amounts fall1 due withln one yeaf 2021 2020 Setured bank loans & overdrafts oiher taxation and social security Trade creditor5 Accruals and deferred income 57.693 20.713 15,382 3.840 270 1.404 1,674 97.628 13 Credltors: arnounts falllntdue alter rn0 than one year 2011 2020 Loans {67.2rAIl 149.775 14 Loans and overdrafts 2021 2010 INCIC loan 167.21y)I 207.468 Payable within one year Payable after one year 57,693 149.775 167.2001 17