2020-12-31-accounts

Company number 05855166 Charity number 1115680

Bridge Street Pentecostal Church T/A Bridge Community Church (A Company Limited by Guarantee)

Annual Report and Financial Statements For the year ending 31 December 2020

Bridge Street Pentecostal Church T/A Bridge Community Church

Contents

Page

Report of the Trustees ..................................................................................................... 3 Independent Auditors’ Report ........................................................................................... 10 Consolidated Statement of Financial Activities ..................................................................... 13 Charity Balance Sheet ..................................................................................................... 14 Consolidated Balance Sheet .............................................................................................. 15 Consolidated Statement of Cash Flows .............................................................................. 16 Notes to the Financial Statements ..................................................................................... 17

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

The Trustees are pleased to present their annual report together with the consolidated financial statements of the charity and its subsidiaries for the year ending 31 December 2020 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Reference and Administrative Details

Charity Number: 1115680 Company Number: 05855166 Registered Office: Bridge Community Church Rider Street Leeds LS9 7BQ Email: [e-mail] Website: www.bccleeds.org Bankers: Barclays Bank Guiseley Leeds LS20 8AE Auditors: Garbutt & Elliott Audit Limited 33 Park Place Leeds LS1 2RY Company Secretary: Mr. M Dransfield

Key management personnel

The directors of the charitable company are its trustees for the purposes of charity law.

The Trustees and officers serving during the year and since the year end were as follows:

Mr. A J Jarvis Dr R Lasseko Mr. O Osarollor Dr I Jones (Resigned 8 February 2021) Mr. C C Inwood Dr O Rotimi Mrs. C Roberts (Appointed 8 March 2021) Mr. C Olowosuko (Appointed 5 January 2020)

Principal staff

Pastoral team: Rev. S Reilly (Senior Pastor) Rev. A Lancaster Rev. A Lenton (Resigned 31 January 2021)

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

Structure, governance and management

Bridge Street Pentecostal Church Ltd (T/A Bridge Community Church) is a charity registered in England and Wales and is constituted as a company, limited by guarantee, and is therefore governed by a memorandum and articles of association. The company was established under a memorandum of association, which established the objects and powers of the charitable company and is governed under its articles of association.

In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Introduction

The objects of the charitable company are primarily worked out through the ministries of Bridge Community Church, its congregation, and volunteers, as directed and supported by the employees and resources of the company.

Bridge Community Church (The Church) has been operating at its new site since June 2016. It has a regular attendance of around 1,200 people at its Sunday services including 300-400 children and young people.

Management and administration

The Trustees oversee the legal and financial responsibilities of the Church.

The spiritual oversight of The Church is vested in the elders, who, together with the Trustees are company members.

The day-to-day management of The Church is vested in the Ministries Leadership Team (for spiritual matters) and the Operations Team (for company matters).

Recruitment and appointment of Trustees.

The Directors of the company are also Trustees of the charity. The Trustees who served during the period under review and to date are set out on page 3. In accordance with the Articles of Association, Trustees stand for a period of three years after which they can, if they choose, stand for re-election. All Trustees give their time voluntarily. Any expenses reclaimed by Trustees from the charity are set out in note 7 to the financial statements.

Induction and training of Trustees

Policies are subject to ongoing review for the induction and training of Trustees.

Remuneration policy for senior staff

The charity follows the annual pay guidance issued by the Elim Pentecostal Church Charity for the payment of Pastors.

Fundraising

We strive to achieve the highest fundraising standards and we value the support we receive financially from supporters. We are staying up to date with developments in charity regulation, data protection and the Fundraising Preference Service (FPS) to make sure we are legally compliant and adhering to all guidelines.

No complaints were received in the year 2020 in connection with fundraising and any queries are managed with due diligence.

Risk management

The Trustees have carried out ongoing assessments of the company’s activities setting out the major opportunities available to the company and the risks to which it is exposed.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

The principal risks and uncertainties faced by the charity at the time of writing are as follows:

• Financial risks – there has been a decrease in congregational giving primarily due to effects of the Covid-19 Pandemic on the congregation’s personal circumstances. To address this, financial controls have been put in place around giving and expenditure. The Church made use of government support through the CJRS (Corona Job Retention Scheme) by furloughing staff and intend to do so until scheme closes. The church has set a budget for 2021 which will leave reserves at the end of the financial year comfortably in excess of its Minimum Reserves Policies. Similarly conferencing and parking income streams have been affected, as a result budgets have been set accordingly. There is optimism that towards the latter end of the year conferencing may return in some measure. Controls are in place to ensure budgets are not overspent.

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• Operational risks - The Church has written policies in place for child protection including systems for training and new and existing volunteers as we as employee’s, health & safety and data protection and many other activities (including an annual risk assessment review).

• Property risk - The Church facility has full security measures against theft, vandalism, and fire with full insurances in place including a 24/7 CCTV system. All required equipment and fixtures are maintained via service contracts.

• Employment (human resource) risk - the church employs pastors and staff for the delivery and management of its objectives. It has policies in place for Pensions, Equal Opportunities, Dispute Resolution and Public & Employer Liability Insurance. The Trustees have considered their responsibilities under Legislation including Health & Safety, Employment Law and Child Protection. The church is supported by an external company Sentinent specialising in HR.

• Building and Estate – A risk was identified in relation to the renovation of the Stewart building roof, a survey was undertaken, and the roof was found to be structurally sound. Remedial work planned for summer 2020 to service the gutters has been put on hold due the Covid19 pandemic.

COVID-19 CORONA VIRUS

In March 2020 Covid-19 afflicted the UK and the government took decisive action. The Charity took the decision to adhere to all government advice and instructions, consequently the following actions have been taken:

1. As the pandemic ebbs and flows, the site has been closed and opened as per government instructions in agreement with local tiering.

2. All conferencing activity has been cancelled or postponed.

3. Non-essential staff have been furloughed following an operational review and an extraordinary meeting of Trustees. This has alleviated staff costs on an ongoing basis. Operational requirements are reviewed monthly.

4. Enhanced financial controls are in place, suspension of all budgetary activity apart from key operating costs, salaries, and key missionary giving.

5. The Pandemic has impacted fundraising (congregational giving) and income from conferencing. The financial position is monitored on a month-by-month basis. The charity has met its budget and can report a balanced budget at the end of 2020. The charity has set a reduced budget for 2021.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

Objectives and activities

1. The advancement of Christian faith.

2. To relieve poverty, hardship, sickness and disease.

3. To assist in the treatment of those in need.

4. To promote the interests of social welfare amongst adults, children and young people through activities such as community café, Domaine youth works, children’s ministries, Splash Time, a parent and toddler group. In addition, we partner with Kidz Klub, Teen challenge and Christians against Poverty, Make Lunch, Missional Generation, Resurgo (Spear) and Zarach who are all active within the vicinity of the Church.

5. The church offers its facilities for hire by external organisations such as the NHS, other business and other Church groups.

When reviewing the aims and objects of the Charity, and planning future activities, the Trustees are compliant with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission.

Achievements and performance

The charity achieved the following objectives in line with its charitable objectives:

1. The Church continued to develop its ministry in its facility on Rider Street, Burmantofts.

2. Conferencing and room hire continued until the first Covid-19 pandemic lockdown. Following post lock down periods very small amounts of business room hire continued under Covid-19 safe working arrangements.

3. Rooms continue to be leased to partner charities under Covid-19 safe working arrangements.

4. Core church activities initially ceased in the building during the various lockdown phases for adult, youth and children’s streams. Delivery of congregational services was taken online with a return to making use of the facility with a reduced capacity adhering to government guidelines as and when permitted.

5. The Discipleship track (the ALPHA course) was taken online and proved to be effective. The format was changed to suit online delivery. Unfortunately, CAP (Christians Against Poverty) ceased until it was recommenced in November.

6. Locally the Church teamed up with various local charities under Leeds City council’s arrangements to support the community. BCC assisted in the distribution of food parcels to local residents. The Out of School club continued to March but has since paused its provision due to the closure of schools and a restriction in the number of schools that could be accommodated safely.

7. Working with DHSC the leadership of the church agreed for the BCC site to be used as a local community walk in test site during the pandemic.

8. Youth work has been taken on-line with a vastly reduced number attending meetings as and when government guidance has allowed. The Covid-19 impact was felt in youth work with all camps, holidays (home and overseas) being cancelled.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

Achievements and performance (continued)

1. Another victim of Covid-19 was the Splash Time (parent and toddler group) this has had to pause due to government guidance. An attempt to run Covid-19 safe groups was thwarted by further lock downs. All fringe activity has also ceased temporarily.

2. The children’s ministry has seen a similar pattern to the main church activity. All gatherings have ceased temporarily and delivery has been taken online. Digital channels have been used to reach children.

3. The ministry to young adults (18-35 year old’s) has ceased in the buildings but has found a place online with groups meeting regularly via the means of conferencing tools such as zoom.

4. Missionary support continues to take place with the mission’s team undertaking communication and support according to the mission’s policy.

5. Following the partnership with Resurgo to deliver and establish the first Spear centre in the north of the UK, activities have moved online.

6. The Church has changed its core administrative platform to the product Churchsuite. This has seen demonstrable improvement in the Church’s ability to communicate with members and user of its services. The technology has also facilitated track and trace during Covid-19 via the means of a ticketing system.

7. The Church has also undertaken the re-design of its web site with a new offering going live in the first week of February 2021.

8. The church has established a diversity team with a clear brief, to promote diversity across the church

Aims and objectives for 2021 onwards

Our vision is to grow as a biblically functioning community throughout the city of Leeds. Our objectives for the forthcoming year include: -

1. Recruit a replacement Pastor.

2. Recruit a replacement Youth leader.

3. To see Burmantofts and Lincoln Green transformed through our links with the local schools (St Peters and Shakespeare in particular) via the network of families, the Burmantofts shop and an ongoing partnership with Teen Challenge and CAP.

4. Continued development of Splash Time and reaching out to families in the local neighbourhood when pandemic restrictions are lifted.

5. Continue and develop our links with our partner organisations.

6. Increase the pastoral care team within the church community to better serve the congregation.

7. The Church will recruit and additional 4[th] Pastor towards the end of the year.

8. Create and implement an ongoing Leadership Development Programme.

9. We will continue to develop our employees through training and education.

10. Understand and report on ‘what a digital church looks like for BCC’ to inform future planning.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

Aims and objectives for 2021 onwards (continued)

The objects stated above are outworked in the activities set out below

1. The Church combines as a regularly attending congregation of around 1,400 adults and children through two services on a Sunday. Each person is developed in their Christian faith by regular meetings, small groups, prayer meetings, bible study and a variety of activities to enhance their Christian faith.

2. The Company, through the ministries of The Church aims to bring change to various communities, and provide services in pastoral care and counselling. In addition, it supports overseas workers in India, Ghana, Germany, Kenya and a number of other countries along with support for organisations financially who share the objectives of the charity through our missions giving.

3. The Church serves a multicultural congregation and gives support to many from across the Nations. It also serves those disadvantaged within society and aims to increase their social integration into the church and the wider community.

4. The company promotes the interests of social welfare amongst adults, children and young people through projects such as Kidz Klub, Teen Challenge, Domaine Youth Centre, Christians against Poverty (CAP), Make Lunch, Spear and it offers its facilities for use by external organisations.

Financial review

The Trustees are pleased with the charitable group’s financial performance for the year ended 31 December 2020.

During the year total income of the charity and its subsidiaries amounted to £1,100,744 (2019: £1,210,457) and total expenditure of the charity and its subsidiaries totalled £1,207,552 (2019: £1,125,998).

Net expenditure for the year totalled £106,808 (2019: net income of £84,459). Gains on revaluation of fixed assets were £nil (2019: £2,620,198).

At the balance sheet date, the group had total consolidated funds of £11,494,412 (2019: £11,603,152). The Trustees consider that the financial position of the charity is satisfactory.

The trading subsidiary companies, BSPC Trading Limited, and BCC Leeds Trading Ltd, let out rooms, car-parking spaces and provide other services.

Reserves policy

The charity had free reserves of £334,108 at 31 December 2020 (2019: £284,008).

The Trustees have established a policy whereby the free reserves held by the charity should be equivalent to 3 months’ forecast running costs (approximately £180,000). The free reserves are currently above this and the trustees are satisfied with their current level.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Report of the Trustees for the year ended 31 December 2020

Statement of disclosure to the auditor

The Trustees of the company who held office at the date of approval of this annual report confirm that:

• so far as they are aware, there is no relevant audit information, information needed by the company’s auditors in connection with preparing their report, of which the company’s auditors are unaware; and

• they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of this information.

Auditors

Garbutt & Elliott Audit Limited have indicated their willingness to be re-appointed at the Annual General Meeting.

Statement of Trustees responsibilities

Charity 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 as at the end of the financial year and of the surplus or deficit 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 judgments and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Trustees and signed on their behalf by:

Mr Craig Inwood Chair of Trustees Date: 23 July 2021

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Bridge Street Pentecostal Church T/A Bridge Community Church

Independent Auditor’s Report to the Members of Bridge Street Pentecostal Church

Opinion

We have audited the financial statements of Bridge Street Pentecostal Church (the “parent charity”) and its subsidiaries (the “group”) for the year ended 31 December 2020. 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 group’s and parent charitable company’s affairs as at 31 December 2020 and of its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• 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 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 and its subsidiaries’ 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 trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. 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.

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.

Opinions 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 for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ report has been prepared in accordance with applicable legal requirements.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual 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 by the parent charity or returns adequate for our audit have not been received from branches not visited by us;

• the parent charity’s financial statements are not in agreement with the accounting records and returns;

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not obtained all the information and explanations necessary for the purposes of our audit.

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees 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 they 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 group’s and the parent 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 group or the parent charity or to cease operations, or have no realistic alternative but to do so.

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.

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.

Extent to which the audit was capable of identifying irregularities, including fraud

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management, and from inspection of the charitable company’s regulatory and legal correspondence. We discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance during the audit.

The charitable company and its subsidiaries are subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies and charities legislation), pensions legislation, taxation legislation and further laws and regulations that could indirectly affect the financial statements, comprising environmental, health and safety and employment legislation, and, in the current climate, Covid regulations. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of

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Bridge Street Pentecostal Church T/A Bridge Community Church

regulatory and legal correspondence, if any. These procedures did not identify any potentially material actual or suspected non-compliance.

To identify risks of material misstatement due to fraud we considered the opportunities and incentives and pressures that may exist within the charitable company to commit fraud. Our risk assessment procedures included: enquiry of trustees and other management to understand the high level policies and procedures in place to prevent and detect fraud, reading Board minutes and considering performance targets and incentive schemes in place for management. We communicated identified fraud risks throughout our team and remained alert to any indications of fraud during the audit.

As a result of these procedures we identified the greatest potential for fraud in the following areas:

• income recognition and in particular the risk that income is recognised in the wrong reporting period; and

• subjective accounting estimates.

Both fraud risks arise due to a potential desire to present weaker results due to an incentive to obtain further funding from supporters. Additionally, we identified a potential fraud risk that cash donated at Sunday services may not have been recorded at all due to misappropriation.

As required by auditing standards we also identified and addressed the risk of management override of controls.

We performed the following procedures to address the risks of fraud identified:

• identifying and testing high risk journal entries through vouching the entries to supporting documentation;

• assessing significant accounting estimates for bias;

• testing the recognition of income and in particular that it was appropriately recognised or deferred; and

• testing the control environment around cash takings, including segregation of duties and daily cash reconciliations.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the Charity’s 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 Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Laura Masheder (Senior Statutory Auditor) 27 July 2021 For and on behalf of Garbutt & Elliott Audit Limited Chartered Accountants 33 Park Place Statutory Auditors Leeds LS1 2RY

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Bridge Street Pentecostal Church T/A Bridge Community Church

Consolidated Statement of Financial Activities for the year ended 31 December 2020 (Incorporating Income and Expenditure Account)

	Notes	Unrestricted Funds	Designated Funds	Total 2020	Total 2019
		£	£	£	£
Income from:
Donations and legacies	2	866,338	-	866,338	859,981
Other Charitable Activities	3	148,483	-	148,483	12,160
Other trading activities:
Trading activities		85,492	-	85,492	337,811
Investments:
Interest Receivable	4	431	-	431	505
Total income		1,100,744	-	1,100,744	1,210,457
Expenditure on:
Raising funds:
Trading activities	5	138,472	-	138,472	204,555
Charitable activities	5	829,950	239,130	1,069,080	921,443
Total expenditure		968,422	239,130	1,207,552	1,125,998
Net (expenditure) / income	6	132,322	(239,130)	(106,808)	84,459
Taxation		(1,932)	-	(1,932)	-
Other recognised gains:
Gain on revaluation of fixed assets	10	-	-	-	2,620,198
Net movement in funds		130,390	(239,130)	(108,740)	2,704,657
Funds brought forward		603,152	11,000,000	11,603,152	8,898,495
Funds carried forward	13	733,542	10,760,870-	11,494,412	11,603,152

The notes on pages 17 to 28 form part of these Financial Statements.

All income and expenditure derive from continuing activities.

A fully detailed Statement of Financial Activities for the year ended 31 December 2019 is shown in note 19 of the financial statements.

There were no recognised gains and losses for the year to 31 December 2020 and for the year to 31 December 2019 other than those in the statement of financial activities.

The statement of financial activities also complies with the requirements for an income and expenditure accounts under the Companies Act 2006.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Charity Balance Sheet as at 31 December 2020

	Notes		31 December		31 December
			2020		2019
		£	£	£	£
Fixed assets
Investments	9		1		1
Tangible fixed assets	10		11,147,934		11,295,338
Current assets
Debtors	11	48,856		61,733
Cash at bank and in hand		314,359		252,912
Total current assets		363,215		314,645
Liabilities
Creditors falling due
within one year	12	(26,492)		(28,665)
Net current assets			336,723		285,980
Net assets			11,484,658		11,581,319
Funds:
Unrestricted funds
General funds			723,788		581,319
Designated fund	14		10,760,870		11,000,000
Total charity funds			11,484,658		11,581,319

The financial statements which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 were approved by the Trustees and signed on its behalf.

Mr Craig Inwood Chair of Trustees

Date: 23 July 2021

The notes on pages 17 to 28 form part of these financial statements.

Company Number: 05855166

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Bridge Street Pentecostal Church T/A Bridge Community Church

Consolidated Balance Sheet as at 31 December 2020

	Notes		31 December		31 December
			2020		2019
		£	£	£	£
Fixed assets
Tangible fixed assets	10		11,160,304		11,319,144
Current assets
Debtors	11	16,926		67,007
Cash at bank and in hand		361,508		264,781
Total current assets		378,434		334,005
Liabilities
Creditors falling due
within one year	12	(44,326)		(46,706)
Net current assets			334,108		285,082
Provisions for liabilities			-		(1,074)
Net assets			11,494,412		11,603,152
Funds:
Unrestricted funds:
General funds	13		733,542		603,152
Designated Funds	13		10,760,870		11,000,000
Total funds			11,494,412		11,603,152

The financial statements which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 were approved by the Trustees and signed on its behalf.

Mr Craig Inwood Chair of Trustees

Date: 23 July 2021

The notes on pages 17 to 28 form part of these financial statements.

Company Number: 05855166

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Bridge Street Pentecostal Church T/A Bridge Community Church

Consolidated Statement of Cash Flows for the year ended 31 December 2020

	Note	2020	2019
		£	£
Cash flows from operating activities:	16	110,001	119,321
Cash flows from investing activities:
Purchase of fixed assets		(16,382)	(37,685)
Loss on disposal of fixed assets		2,677	-
Interest received		431	505
Net cash used in investing activities		(96,727)	(37,180)
Increase in cash and cash equivalents		96,727	82,141
Cash and cash equivalents at the beginning of the year		264,781	182,640
Total cash and cash equivalents at the end of the year		361,508	264,781

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Company information

Bridge Street Pentecostal Church is a Company Limited by Guarantee under registration 05855166 and is also a registered charity in England and Wales under registration number 1115680. The registered office is Bridge Community Church, Rider Street, Leeds, LS9 7BQ.

Basis of preparation

The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements 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 Ireland (FRS 102) and the Companies Act 2006 and the Charities Act 2011. The particular accounting policies adhered to are described below.

On the grounds that the charitable company's results are consolidated into the charitable company’s group financial statements the charitable company has taken advantage of certain exemptions conferred by FRS 102 as follows:

• Exemption from presenting a statement of cash flows as a primary statement to the financial statements.

Bridge Street Pentecostal Church meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are prepared in sterling which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £1.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiaries BSPC Trading Limited and BCC Leeds Trading Ltd, on a line by line basis. A separate Statement of Financial Activities or Income and Expenditure Account for the charity is not presented because the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. The amount of the surplus or deficit for the year dealt within the charity’s financial statements is disclosed in note 18.

Going concern

The Trustees have at the time of approving the financial statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Whilst the global economy has been significantly impacted by the COVID-19 virus, the charity still has considerable reserves, sufficient to meet its immediate requirements. Thus the Trustees have continued to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income represents all resources which become available to the charity but excludes realised and unrealised gains on investments.

Grants, legacies and donations and income tax recoverable on gift aid donations are recognised when the charity becomes entitled to receive the funds, when it is probable that the funds will be received and that they can be measured with sufficient reliability.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

1. Accounting Policies (Cont.)

Income

Investment income is recognised on an accruals basis and comprises interest receivable during the accounting period.

In accordance with the Charity SORP and FRS 102 the value of services provided by volunteers is not included.

Expenditure

Expenditure represents all costs incurred in the course of the charity’s activities but excludes losses on investments. It is included in the Statement of Financial Activities (“SOFA”) on an accruals basis inclusive of any VAT that cannot be recovered and has been classified under headings that aggregate all costs related to the category.

All direct costs have been allocated across the functional categories of resources expended in the Statement of Financial Activities.

Charitable activity

Charitable activity costs comprise those directly attributable to the delivery of the charitable activities of the church.

Support costs

Support costs comprise of all non-attributable costs including Finance, Human Resources, and Information Technology. These costs have been allocated across charitable activities on the basis of time spent.

Staff costs

The costs of short-term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period.

Fund accounting

Funds held by the charitable group are either:

Unrestricted funds – these funds can be used in accordance with the charitable objects at the discretion of the Trustees.

Restricted funds – these funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the Trustees’ Report.

Tangible fixed assets

Individual assets costing more than £200 are capitalised and included at cost, or in cases where fixed assets have been donated to the Church, at valuation at the time of acquisition. In cases where the historic cost has been unable to be obtained a pool value has been ascribed.

Depreciation is calculated to write off the cost of fixed assets (less expected residual value) by equal instalments over their expected useful economic lives as follows:

Motor vehicles 25% straight line Fixtures, fittings and equipment 20% - 50% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is credited/charged to the SOFA.

Freehold land and buildings are included at depreciated replacement based on a valuation provided by an independent qualified surveyor.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

1. Accounting Policies (Cont.)

Financial instruments

The group 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.

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 held for working capital. Any bank overdrafts are shown within borrowing in current liabilities.

Debtors

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

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. Any impairment loss is recognised in the income and expenditure account.

Creditors, loans and provisions

Creditors, loans and provisions are recognised where the charitable group 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, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial liabilities are only derecognised when, and only when, the charity’s obligations are discharged, cancelled or they expire.

Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Pension costs

Principal staff are eligible for membership of the Elim Ministers’ Pension Fund which is a defined benefit scheme administered on behalf of Elim Pentecostal Churches. It is not possible to identify the Church’s share of the underlying assets and liabilities, the scheme is therefore accounted for as a defined contribution scheme, pension costs charged in the Statement of Financial Activities represent the contributions paid by the church during the year.

Other defined contribution pension schemes are made available to all other staff.

One employee is a member of The Pensions Trust Growth Plan Series 4, a multi-employer money purchase defined contribution scheme, which replaced The Pensions Trust Growth Plan Series 3 defined benefit scheme that the employee had previously paid into. The employer contributions to the Series 4 scheme are charged to the Statement of Financial Activities each year.

Operating leases

Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

1. Accounting Policies (Cont.)

Taxation

Bridge Street Pentecostal Church is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, it is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.

Its trading subsidiaries are liable to corporation tax on its chargeable profits. Current tax, including UK Corporation and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date. As all profits arising in the subsidiaries were gift aided to Bridge Street Pentecostal Church in both the current and prior financial year, no corporation tax arises.

Critical accounting estimates and judgements

In the application of the group’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, 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 estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements

Depreciation of Tangible Assets:

Depreciation policies have been set according to management's experience of the useful lives of the assets in each category, something that is reviewed annually.

The Trustees have revalued the land and buildings which are utilised operationally by the church on a depreciated replacement cost basis. Given the specialist nature of the operational land and buildings this is considered the most appropriate basis of valuation. Depreciated replacement cost represents the cost to the charity to replace the underlying assets in their current condition. Depreciated replacement costs may not equate to fair market value.

2. Donations and legacies

	Unrestricted	Restricted	2020	Unrestricted	Restricted	2019
	Funds	Funds	Total	Funds	Funds	Total
	£	£	£	£	£	£
Church offerings	605,498	-	605,498	665,099	1,000	666,099
Legacies	124,200	-	124,200	33,000	-	33,000
Other donations	5,000	-	5,000	3,000	-	3,000
Gift-Aid on
donations	115,202	-	115,202	116,785	201	116,986
Other ministry
gifts received	-	-	-	6,250	-	6,250
Other	16,438	-	16,438	34,646	-	34,646
	866,338	-	866,338	858,780	1,201	859,981

The charity benefits greatly from the involvement of its many volunteers, and in accordance with FRS 102, the economic benefit of volunteers is not recognised in the financial statements.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

3. Other Charitable Activities

	Unrestricted	Restricted	2020	Unrestricted	Restricted	2019
	Funds	Funds	Total	Funds	Funds	Total
	£	£	£	£	£	£
Coronavirus job
retention scheme	92,146	-	92,146	-	-	-
LCC Covid Grant
(BSPC Trading
Limited)	25,000	-	25,000	-	-	-
LCC Covid Grant	10,000	-	10,000	-	-	-
Covid testing centre	11,171	-	11,171	-	-	-
Room rental	10,166	-	10,166	12,160	-	12,160
	148,483	-	148,483	12,160	-	12,160

4. Investment income

	Unrestricted	Restricted	2020	Unrestricted	Restricted	2019
	Funds	Funds	Total	Funds	Funds	Total
	£	£	£	£	£	£
Interest receivable:
Bank interest	431	-	431	505	-	505
	431	-	431	505	-	505

5. Expenditure

	Basis of	Cost of raising	Ministry and	2020
	allocation	funds	missions	Total
		£	£	£
Costs directly allocated to	activities:
Direct staff costs	Direct	64,650	233,516	298,166
Home and foreign missions	Direct	-	74,819	74,819
Other ministry expenses	Direct	1,050	10,101	11,151
Light and heat	Direct	-	21,363	21,363
Rent, rates and water	Direct	-	28,258	28,258
Insurance	Direct	-	21,765	21,765
Repairs and security	Direct	9,132	62,454	71,586
Catering expenses	Direct	-	3,109	3,109
Training and development	Direct	-	6,270	6,270
Telephone	Direct	257	3,420	3,677
Travel and parking	Direct	-	359	359
Motor expenses	Direct	-	1,832	1,832
Cleaning and incidentals	Direct	-	16,248	16,248
Depreciation	Direct	10,289	282,256	292,545
		85,378	765,770	851,148
Support costs allocated to	activities:
Support staff costs	Staff time	-	266,668	266,668
Legal and professional	Direct	1,104	-	1,104
Administration expenses	Usage	25,792	14,671	40,463
Audit and accountancy	Direct	1,500	8,058	9,558
Miscellaneous purchases	Direct	24,698	13,913	38,611
		53,094	303,310	356,404
		138,472	1,069,080	1,207,552

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

5. Expenditure (Continued)

	Basis of	Cost of raising	Ministry and	2019
	allocation	funds	missions	Total
		£	£	£
Costs directly allocated to	activities:
Direct staff costs	Direct	68,474	252,666	321,140
Home and foreign missions	Direct	-	101,101	101,101
Other ministry expenses	Direct	-	17,658	17,658
Light and heat	Direct	-	28,909	28,909
Rent, rates and water	Direct	-	37,289	37,289
Insurance	Direct	-	19,965	19,965
Repairs and security	Direct	10,781	77,915	88,696
Catering expenses	Direct		15,060	15,060
Training and development	Direct	-	15,730	15,730
Telephone	Direct	509	3,444	3,953
Travel and parking	Direct	-	745	745
Motor expenses	Direct	-	2,491	2,491
Cleaning and incidentals	Direct	4,455	24,775	29,230
Depreciation	Direct	11,084	41,299	52,383
		95,303	639,047	734,350
Support costs allocated to	activities:
Support staff costs	Staff time	-	232,813	232,813
Project costs	Direct	-	1,500	1,500
Legal and professional	Direct	3,048	2,494	5,542
Administration expenses	Usage	52,207	21,307	73,514
Audit and accountancy	Direct	1,500	6,918	8,418
Miscellaneous purchases	Direct	52,497	17,364	69,861
		109,252	282,396	391,648
		204,555	921,443	1,125,998

6. Net income/(expenditure) for the year

This is stated after charging:	2020	2019
	Total	Total
	£	£
Auditors’ remuneration:
Audit	4,000	3,850
Accountancy	1,560	1,450
Depreciation of owned assets	292,545	52,383

7. Trustee information

The charity Trustees were not paid, reimbursed for expenses and did not receive any employee benefits from the charity or its subsidiaries in the year (2019 - £nil). No charity Trustee received payment for professional or other services supplied to the charity (2019 - £nil).

8. Staff costs

. Staff costs
	2020	2019
	£	£
Staff costs in the year amounted to:
Wages and salaries	559,987	553,827
Employer’s social security costs	29,717	28,947
Pension costs	35,361	33,331
	625,065	616,105

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

8. Staff costs (continued)

The average number of employees during the year and analysed by function was as follows:

	2020	2019
Subsidiary	6	12
Ministry	23	24
Total	29	36

No employee earned in excess of £60,000 per annum during the year. (2019: No employee earned in excess of £60,000 per annum during the year).

The key management personnel of the parent charity and the group comprise the Trustees, Stephen Reilly, Andrew Lancaster and Andrew Lenton. The total employee benefits of the key management personnel of the charity were £129,042 (2019 - £126,563).

9. Investments

	2020	2019
	£	£
Investments in subsidiaries	1	1

The consolidated Financial Statements include the results of the charitable company’s two wholly owned trading subsidiaries:

BCC Leeds Trading Ltd (company number 10282646), a company incorporated in England and Wales and limited by shares. Bridge Street Pentecostal Church owns the entire share capital in BCC Leeds Trading Ltd.

BSPC Trading Company Limited (company number 07355760), a company incorporated in England and Wales and limited by guarantee. Bridge Street Pentecostal Church is the sole corporate member of BSPC Trading Company Limited.

The trading results of the subsidiaries are summarised below:

	BCC Leeds	Trading	BSPC Trading	Company
	2020	2019	2020	2019
	£	£	£	£
Turnover	124,167	305,794	36,870	32,017
Cost of sales	(9,047)	(36,228)	(15,651)	(16,269)
Gross profit	115,120	269,566	21,219	15,748
Administrative expenses	(107,369)	(145,405)	(6,405)	(6,653)
Operating profit	7,751	124,161	14,814	9,095
Tax	(2,761)	-	829	-
Gift Aid donations to parent charity	(16,510)	(124,517)	(16,200)	(10,987)
Retained (loss) for the year	(11,520)	(356)	(557)	(1,892)

The assets and liabilities of the subsidiaries were:

	BCC Leeds	Trading	BSPC Trading	Company
	2020	2019	2020	2019
	£	£	£	£
Fixed assets	12,371	21,129	-	2,677
Current assets	27,173	53,877	20,756	10,987
Current liabilities	(29,833)	(53,775)	(20,711)	(11,987)
Provisions of liabilities	-	-	-	(1,074)
Total net assets	9,711	21,231	45	603
Aggregate share capital and reserves	9,711	21,231	45	603

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

10. Tangible fixed assets
	Freehold	Motor	Furniture
Group	land &	vehicles	fittings &	Total
	buildings		equipment
	£	£	£	£
Cost or valuation:
At 1 January 2020	11,000,000	12,009	494,930	11,506,939
Additions	120,000	-	16,382	136,382
Disposals	-	-	(21,728)	(21,728)
At 31 December 2020	11,120,000	12,009	489,584	11,621,593
Depreciation:
At 1 January 2020	-	12,009	175,786	187,795
Charge for the year	239,130	-	53,415	292,545
Disposals	-	-	(19,051)	(19,051)
At 31 December 2020	239,130	12,009	210,150	461,289
Net book value:
At 31 December 2020	10,880,870	-	279,434	11,160,304
At 31 December 2019	11,000,000	-	319,144	11,319,144
	Freehold	Motor	Furniture
Charity	land &	vehicles	fittings &	Total
	buildings		equipment
	£	£	£	£
Cost or valuation:
At 1 January 2020	11,000,000	12,009	444,239	11,456,248
Additions	120,000	-	14,852	134,852
Disposals	-	-	(14,234)	(14,234)
At 31 December 2020	11,120,000	12,009	444,857	11,576,866
Depreciation:
At 1 January 2020	-	12,009	148,901	160,910
Charge for the year	239,130	-	43,126	282,256
Disposals	-	-	(14,234)	(14,234)
At 31 December 2020	239,130	12,009	177,793	428,932
Net book value:
At 31 December 2020	10,880,870	-	267,064	11,147,934
At 31 December 2019	11,000,000	-	295,338	11,295,338

The freehold land and buildings at Rider Street Leeds which comprise the property collectively known as Bridge Community Church, were revalued professionally during the prior year. Due to the specialist nature of the assets depreciated replacement cost was considered to be the most appropriate basis of valuation.

The land and buildings were professionally reviewed in August 2019 by an experienced FRICS qualified surveyor of Byrom Clark Roberts Limited. Accordingly an unrealised revaluation gain of £2,620,198 was been recognised during the prior year.

Freehold land of £454,000 (2019 - £545,000) is not depreciated.

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

11. Debtors

1. Debtors
	Group		Charity
	2020	2019	2020	2019
	£	£	£	£
Other debtors	10,241	62,255	42,171	57,381
Prepayments	6,685	4,352	6,685	4,352
	16,926	67,007	48,856	61,733

12. Creditors: amounts falling due within one year

		Group	Group		Charity	Charity
		2020	2019	2020		2019
		£	£		£	£
Trade creditors		6,593	9,420	2,827		9,420
Other creditors		12,185	13,374	10,360		13,576
Taxation and social security		21,477	17,743	9,234		-
Accruals		4,071	6,169	4,071		5,669
		44,326	46,706	26,492		28,665
13. Movement in funds
	Balance					Balance
As at 31 December 2020	1 January	Income	Expenditure Transfers		31	December
(Group)	2020					2020
	£	£	£	£		£
Unrestricted funds:
Designated funds	11,000,000	-	(239,130)	-		10,760,870
General funds	603,152	1,100,744	(970,354)	-		733,542
Group	11,603,152	1,136,773	(1,209,484)	-		11,494,412

Designated fund relates to the fixed assets utilised by the church. The value of the freehold land and buildings which represent £11,000,000 of this fund was revalued in the year on a depreciated replacement costs basis as disclosed in note 10 to the Financial Statements.

As at 31 December 2019 (Group) Balance 1 January 2019 Income £ £	Expenditure Transfers Gains Balance 31 December 2019 £ £ £ £
Unrestricted funds: Designated funds - - General funds 6,603,407 1,209,256	- 11,000,000 - 11,000,000 (1,084,699) (8,745,010) 2,620,198 603,152
6,603,407 1,209,256 Restricted funds: Build the House fund 1,628,688 1,201 The Liz and Terry Bramall Foundation 78,400 - Stewart Building 588,000 -	(1,084,699) 2,254,990 2,620,198 11,603,152 (41,299)(1,588,590) - - - (78,400) - - - (588,000) - -
2,295,088 1,201	(41,299) (2,254,990) - -
Group 8,898,495 1,210,457	(1,125,998) -2,620,198 11,603,152

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

13. Movement in funds (continued)

Build the House – the church has raised specific funds toward the new church buildings.

The Liz and Terry Bramall Foundation – the funding was granted towards the refurbishment of the youth and children’s centre.

Stewart Building - this funding was granted from Leeds City Council to deliver the works package required to facilitate the conversion of the second floor of the Stewart building at Bridge Community Church into useable teaching accommodation.

14. Analysis of net assets by fund

4. Analysis of net assets by fund
	Tangible	Net current
As at 31 December 2020 (Group)	fixed assets	assets	Total
	£	£	£
Unrestricted Funds
General	399,434	334,108	733,542
Designated	10,760,870	-	10,760,870
Total funds	11,160,304	334,108	11,494,412
	Tangible	Net current
As at 31 December 2019 (Group)	fixed assets	assets	Total
	£	£	£
Unrestricted Funds
General	319,144	284,008	603,152
Designated	11,000,000	-	11,000,000
Total funds	11,319,144	284,008	11,603,152

Within designated funds is a revaluation reserve of £2,336,190 (2019 - £2,620,198) from the 2019 revaluation of the freehold land and buildings at Rider Street Leeds.

15. Related party transactions (charity and group)

Claire Gooud is the wife of Andrew Gooud (a Trustee until 1 April 2019) and is employed as a children’s worker by the charity and, in prior year received a salary and pension contributions during the period to 1 April 2019 of £5,457.

Peter Reilly is the brother of Steve Reilly (Senior Pastor) and was employed as a caretaker by the charity until May 2019 and received a salary and pension contributions in prior year during the period to May 2019 of £7,952.

Steve Reilly (Senior Pastor) is a Trustee of Life Connections. During the year the Charity charged Life Connections £nil for costs of running the out of school club (2019: £1,100).

Steve Reilly (Senior Pastor) is a Trustee of Kidz Klub, Teen Challenge UK Life Connections and Horizon Life Training. The charity made donations to these four independent charities as follows:

	2020	2019
	£	£
Kidz Klub	4,170	9,400
Teen Challenge UK	2,000	8,000
Horizon Life Training	500	2,000
Life Connections	1,500	2,000

26

Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

15. Related party transactions (charity only) (continued)

BCC Leeds Trading Limited is the subsidiary undertaking of the charity, and a company of which Andy Gooud is also a Director. The Charity recharged BCC Leeds Trading Limited £46,154 (2019: £38,007) for staff costs and £2,609 (2019: £1,175) for recharged expenses. All amounts recharged were done so at the cost incurred to the charity. BCC Leeds Trading Limited made a covenanted donation of £16,510 (2019: £124,517) to the church.

BSPC Trading Limited is the subsidiary undertaking of the charity. The Charity recharged BSPC Leeds Trading Limited £300 (2019: £290)) for recharged expenses. All amounts recharged were done so at the cost incurred to the charity. BSPC Trading Limited made a covenanted donation of £16,200 (2019: £10,987) to the church.

16. Reconciliation of net movement in funds to net cash flow from operating activities

	2020	2019
	£	£
Net movement in funds	(108,740)	2,704,657
Adjustments for:
Interest received	(431)	(505)
Depreciation	292,546	52,383
Unrealised gains on fixed asset revaluation	-	(2,620,198)
Non cash fixed asset additions (legacy gift)	(120,000)	-
Decrease / (Increase) in debtors	50,081	(10,519)
(Decrease) in creditors and provisions	(3,455)	(6,497)
Net cash provided by operating activities	110,001	119,321

17. Reconciliation of net debt

All cashflows in the current year originated from cash held at bank and in hand. The charity has not used or held any external debt facilities in this period.

18. Surplus of the parent charitable company

As required to be disclosed by Section 408 of the Companies Act 2006 the deficit of the parent charitable company for the year was £66,632 (2019: surplus of £2,706,905).

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Bridge Street Pentecostal Church T/A Bridge Community Church

Notes to the Financial Statements for the year ended 31 December 2020

19. Comparative Statement of Financial Activities (Including Income and Expenditure account)

	Unrestricted Funds	Designated Funds	Restricted Funds	Total 2019
	£	£	£	£
Income from:
Donations and legacies:
Donations	870,940	-	1,201	872,141
Other trading activities:
Trading activities	337,811	-	-	337,811
Investments:
Interest Receivable	505	-	-	505
Total income	1,209,256	-	1,201	1,210,457
Expenditure on:
Raising funds:
Trading activities	204,555	-	-	204,555
Charitable activities	880,144	-	41,299	921,443
Total expenditure	1,084,699	-	41,299	1,125,998
Net income/(expenditure) before transfers	124,557	-	(40,098)	84,459
Transfers between funds	(8,745,010)	11,000,000	(2,254,990)	-
Other recognised gains:
Gain on revaluation of fixed assets	2,620,198	-	-	2,620,198
Net movement in funds	(6,000,255)	11,000,000	(2,295,088)	2,704,657
Funds brought forward	6,603,407	-	2,295,088	8,898,495
Funds carried forward	603,152	11,000,000	-	11,603,152

28