Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **Company Registration No 06238403 (England and Wales)** 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE)** 

**DIRECTORS’ REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 DECEMBER 2023** 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE)** F **INANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Contents**|**Pages**|
|---|---|
|Directors’ report|1 – 6|
|Auditors’ report|7 – 10|
|Statement of financial activities|11|
|Balance sheet|12|
|Statement of cash flow|13|
|Notes to the financial statements|14 – 22|





Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

The directors present their annual report along with audited financial statements of the charitable company for the year ended 31 December 2023. 

## _**Reference & Administrative Details**_ 

The Charity: The Bridge Church Bolton Charity Number: 1121268 Company registration Number: 06238403 Address: The Bridge Church Bolton, 109 Bradford Street, Bolton, BL2 1JX Tel: (01204) 361704, Fax: (01204) 522732 

## **DIRECTORS/TRUSTEES** 

Mr R Cooke Mr C Taylor Mr P Roberts Mr A Williamson Mr M McPhail Mr A Stokes Mr R Hogg Mr D Andrews Mr A J Foster 

Senior Leader Counsellor Volunteer Solicitor Group CEO Finance Manager Teacher Retired Operations Minister 

## **SECRETARY** 

Mr R Cooke 

## **AUDITORS** 

Sumer Auditco Limited The Beehive, City Place Gatwick, RH6 0PA 

## **SOLICITORS** 

Aughton Ainsworth 2 Merchants Quay Salford Quays Manchester M50 3XR Tel: 0161 877 8555 

## **PRINCIPAL BANKERS** 

Virgin Money UK PLC Jubilee House Gosforth Newcastle Upon Tyne England NE3 4PL Tel: 0800 456 1247 

Page 1 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## _**Our Aims and Objectives**_ 

**Purposes and aims** 

Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are: 

- For the benefit of the public, to advance the Christian faith, in accordance with the Statement of Faith of Assemblies of God, 

- To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support and to advance education. 

## _**Objectives and Activities**_ 

The policies adopted in furthering the above stated objective of the charity, are encompassed in the many activities programmed throughout the calendar year by the charity’s operating departments. 

The charity’s activities in fulfilling its objectives: 

Sunday services – 9.30am and 11.30am Bridge Kids Children’s Programme – Sunday 9.30am and 11.30am Bridge Youth – Friday 7.30 pm 

The church offices are open Monday to Friday 9.00 am to 5.00 pm 

## Activities during the week: 

Prayer Bridge Counselling Youth Meetings Mid-week Meeting Alpha Courses Bridge Tots Group Life Groups CAP Training Missions Projects Women’s Ministry Oasis Community Projects Freedom in Christ Course Worship Team BB Football Club                         Money Management Course Marriage Courses Community Thursday Job Club Rise Dance Group Prison Ministry Baby Basics English Classes Men’s Ministry Interns Program After School Club Monthly Staff Breakfast Veterans Drop-In 

Other activities: 

Various regional events (AOG Region) Counselling Accreditation Courses Appropriate Seminars Board of Directors Meetings Ministry Team Meetings Missions Team Meetings Leadership Training Elders Meetings 

Additional events approved by the Board of Directors, which do not conflict with the charity’s objects. 

There have been no changes in the charity’s policies during the past year. 

The Trustees would confirm there are no assets held by the charity on behalf of another charity . 

The Trustees have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission. 

Page 2 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Achievements & Performance** 

Following the previous ‘Covid years’, 2023 saw normality return to the church with numbers attending continuing to increase as the year progressed. It was good to see all two Sunday services filling up as people became more confident, feeling connected and saying they feel they are home. We continue to stream our services, something that began during the Covid lockdown months. This supports our less mobile congregation members and maintains connections with those who have moved away from Bolton, keeping them engaged with the Church. 

We have a conscientious and hard-working staff team who worked particularly hard this year. There were some staff changes with two new members of staff undertaking the roles of building manager and overseeing our conferencing facility. With the help of a grant, we also recruited a staff member to manage Baby Basics, our ministry supporting new mothers and babies in the community. While we were sad to see some staff members move on, these changes reduced our monthly payroll, helping us navigate a financially challenging period. We continue to benefit from volunteer staff who support our paid members, blessed with a team of experienced and committed individuals who regularly assist with administration, IT support, and youth and children's work. 

Our mid-week activities continue, including Life Groups, Youth Group, Mums and Tots, teaching sessions and Community Thursdays which is held in our Coffee Shop. Community Thursdays has been particularly crucial in 2023, supporting many people struggling with the increasing cost of living. Our excellent debt counselling service is in such high demand that it now has a waiting list. 

We have made considerable progress during 2023 with Phase 2 of our development of the Life Centre. The creation of a new floor being the extension of the mezzanine was completed early 2023 and we have continued to work on this development i.e. completing a new staircase. 

Through the Conferencing arm of the Trading company, we are maximizing the use of our facilities for external events whenever possible, building upon the momentum gained in the previous year. We have continued to host conferences for various companies and organizations, with the NHS remaining a significant user of our facilities. We are actively promoting our facilities to other organizations to diversify our income streams, recognizing the need to avoid over-reliance on a single source as budgets tighten. The success of our conferencing directly impacts the church's finances, as all trading profits are gifted back to the parent charity. Bridge Coffee, our other trading arm, has seen an increase in customers, including those returning after the Covid pandemic. Our excellent staff team continues to provide a safe space for vulnerable community members while offering a high-quality facility for all customers. 

Whilst 2023 was challenging it has been good to see the progress that has been made with the increase in the numbers on a Sunday and at our various ministries, and the progress with the work in our Life Centre. We continue to be grateful for God’s blessings as He continues to meet our needs. 

## _**Financial Review**_ 

## **Review of the transactions and financial position** 

The Bridge Church Bolton’s income during the period was £680k. Most of the church’s income comes from donations, gift aid and grants. Restricted income of £142k was received during the year. This is primarily related to the Vision fund, but included some Missions work, the Building Fund, Baby Basics, and our Debt Counselling outreach with CAP. Total expenditure for the period was £687k, with much of this relating to the provision of church operations. 

At 31[st] December 2023 all assets shown in the accounts were used exclusively for the benefit of the public to advance the Christian faith and provide spiritual and practical support. 

Page 3 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Reserves policy** 

It is the policy of the charity to maintain unrestricted funds at an appropriate level to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year. 

## **Principle risks** 

Due to the manner in which the Bridge Church operates, exposure to liquidity risk is low. The Bridge continues to display steadiness and growth in terms of income based upon the generous donations and gifts of those who attend the church with equal watchfulness in budgeting wisely and appropriately. The trustees monitor on a monthly basis the sums generated by the primary income stream of donations given which would enable a quick and specific response with any element of risk arising. 

To help the Bridge Church for the future, the charity is implementing a Risk Register that will help evaluate more clearly any risk factors and subsequent actions that should be taken. Work on this register commenced during 2019 but, due to COVID severely limiting several pieces of work during the year, it remains a work in progress. 

## **Future Plans** 

Building in the Life Centre progresses as and when funds are available being acutely aware that our congregation’s finances have been stretched this year with the cost-of-living skyrocketing. However, despite this we have seen finances received for our Vision and we look forward to further progress with the creation of offices soon to be completed. Eventually, this will leave the current open plan office space free and available to rent out for small events and meetings. Furthermore, we plan to get additional resources from the sale of the House at 107D Bradford St to complete the exterior of the Life Centre. 

We continue to support our partner Church in Horwich by providing spiritual oversight and guidance as well as offering the practical support that many small churches often struggle to secure. Through our partnership, we have seen the Church flourish and now has a well-established congregation meeting each Sunday. We are currently working towards transferring their charity to The Bridge Bolton as we continue to implement similar community programmes (Mums and Tots group, coffee morning, a CAP drop in, Prayer). 

## **Going Concern** 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

## _**Structure, Governance and Management**_ 

## **Governing Document** 

The organisation is a charitable company limited by guarantee, incorporated on 4 May 2007. The company was established under a Memorandum of Association which established the objects and powers of charitable company and is governed under its Articles of Association. Each member of the company has guaranteed to contribute to the company’s assets, if required, an amount not exceeding £1. 

## **Recruitment and Appointment of Directors** 

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the company. Under the requirements of the Memorandum and Articles of Association the directors shall not be required to retire by rotation and shall comprise the Senior Minister and other ministers of the Church together with such persons as the Senior Minister shall nominate or the directors may appoint. 

Page 4 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

The management of the charity is vested in the Board of Directors who are responsible for the appointment and induction of Trustees. 

The charity is controlled financially by its Board of Directors and spiritually by its Eldership team. 

The management structure consists currently of nine members: Chairperson and Treasurer, plus seven other members. The directors are jointly responsible for the charity’s financial control. 

## **Investment Powers** 

The company shall employ a professional investment manager to make and hold investments using the general funds of the charity, but no such investments are presently held. The delegated powers shall be exercisable only within clear policy guidelines and shall be reported to the Company within 14 days. 

## **Responsibilities of Board of Directors** 

The trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.  In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

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

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue on that basis. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to 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 the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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

## **Members of Board of Directors** 

Members of Board of Directors, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the period and up to date of this report are set out on page 1. 

Page 5 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) DIRECTORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

In accordance with company law, as the company’s directors, we certify that: 

- so far as we are aware, there is no relevant audit information of which the company’s auditors are unaware; and 

- as the directors of the company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information. 

## **Auditors** 

Sumer Auditco Limited were re-appointed as the charitable company’s auditors during the year and have expressed their willingness to continue in that capacity. 

## **Approval** 

27/9/2024 | 3:28 PM BST 

This report was approved by the directors on ……………… and signed on their behalf. 


Mr R Cooke Director 

Page 6 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **INDEPENDENT AUDITORS REPORT TO THE MANAGEMENT COMMITTEE OF THE BRIDGE CHURCH BOLTON FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Opinion** 

We have audited the financial statements of The Bridge Church Bolton for the year ended 31 December 2023 which comprise the Statement of Financial Activities, including Income and Expenditure Accounts, the Balance Sheet, statement of cash flow, a summary of significant accounting policies and related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charity’s affairs as at 31 December 2023 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 FRS'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 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 company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

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

Page 7 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **INDEPENDENT AUDITORS REPORT TO THE MANAGEMENT COMMITTEE OF THE BRIDGE CHURCH BOLTON FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **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. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the 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 Charities Act 2011 requires us to report to you if, in our opinion: 

- sufficient accounting records have not been kept; 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations necessary for the purposes of our audit. 

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a strategic report. 

## **Responsibilities of the trustees** 

As explained more fully in the trustees' responsibilities statement set out on page 5, 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 to preparation of the financial statements that are free from material misstatement, whether due to fraud or error. 

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

## **Our responsibilities for the audit of the financial statements** 

The trustees have elected for the financial statements to be audited in accordance with the _Charities Act_ 2011 rather than the _Companies Act_ 2006. Accordingly we have been appointed as auditor under section 144 of the _Charities Act_ 2011 and report in accordance with regulations made under section 154 of that act. The trustees were not required by section 399 of the Companies Act to prepare group accounts for the year ended 31 December 2023. 

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Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **INDEPENDENT AUDITORS REPORT TO THE MANAGEMENT COMMITTEE OF THE BRIDGE CHURCH BOLTON FOR THE YEAR ENDED 31 DECEMBER 2023** 

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

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

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, and through discussions with the directors (as required by auditing standards) and discussed with the directors 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 throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. 

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. 

Secondly, the company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines.  We identified the following areas as those most likely to have such an effect: Health and Safety at Work Act, Company Law and Employment Law. 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance. 

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 (irregularities) 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 irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

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 the auditor's report. 

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Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**INDEPENDENT AUDITORS REPORT TO THE MANAGEMENT COMMITTEE OF THE BRIDGE CHURCH BOLTON FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Sections 144 of the _Charities Act_ 2011 and the regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees 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 any responsibility to anyone other than the charity or the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


**Sumer Auditco Limited Statutory Auditor** 

27/9/2024 | 3:35 PM BST **Date: ……………….** 

**The Beehive City Place Gatwick RH6 0PA** 

Sumer Auditco Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

Page 10 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE)** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Restricted**<br>**Unrestricted**<br>**Notes**<br>**Funds**<br>**Funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**Income and endowments:**<br>**Incoming resources from generated funds**<br>Income from donations and legacies<br>2<br>128,057<br>483,262<br>Income from other trading activities<br>3<br>14,349<br>44,329<br>Other income<br>4<br>-<br>10,800<br>**Total income and endowments**<br>142,406<br>538,391<br>**Expenditure on:**<br>**Raising funds**<br>Charitable activities<br>5<br>100,736<br>575,424<br>Governance costs<br>5<br>-<br>10,853<br>**Total expenditure on:**<br>100,736<br>586,277<br>**Net movement of funds in year**<br>41,670<br>(47,886)<br>**Funds balances at 1 January**<br>481,275<br>750,959<br>**Fund balances at 31 December**<br>13<br>522,945<br>703,073|**TOTAL**<br>**Funds**<br>**2023**<br>**£**<br>611,319<br>58,678<br>10,800<br>680,797<br>676,160<br>10,853<br>687,013<br>(6,216)<br>1,232,234<br>1,226,018|**TOTAL**<br>**Funds**<br>**2022**<br>**£**<br>605,529<br>105,517<br>10,800<br>721,846<br>739,794<br>7,319<br>747,113<br>(25,267)<br>1,257,501<br>1,232,234|
|---|---|---|



There are no recognised gains or losses in the period other than those included in the statement of financial activities. 

The statement of financial activities has been prepared on the basis that all operations are continuing. 

The statement of financial activities has been prepared on the historical cost basis. 

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Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Notes**<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>Investment in subsidiary<br>9<br>**CURRENT ASSETS**<br>Debtors<br>10<br>Cash at bank and in hand<br>**CREDITORS:**amounts falling due<br>within one year<br>11<br>**NET CURRENT (LIABILITIES)**<br>**CREDITORS:**amounts falling due<br>after more than one year<br>12<br>**NET ASSETS**<br>**THE FUNDS**<br>**Unrestricted funds**<br>13<br>**Restricted funds**<br>13<br>**TOTAL FUNDS**|**£**<br>29,052<br>3,321<br>32,373<br>(139,759)||**2023**<br>**£**<br>1,980,970<br>1<br>1,980,971<br>(107,386)<br>1,873,585<br>(647,567)<br>1,226,018<br>703,073<br>522,945<br>1,226,018|**£**<br>55,176<br>2,705<br>57,881<br>(467,006)<br>||**2022**<br>**£**<br>1,960,787<br>1<br>1,960,788<br>(409,125)<br>1,551,663<br>(319,429)<br>1,232,234<br>750,959<br>481,275<br>1,232,234|
|---|---|---|---|---|---|---|
||||||||



For the year ended 31 December 2023, the charitable company was entitled to exemption from an audit under section 447 of the Companies Act 2006. 

The members have not required the charitable company to obtain an audit of its accounts for the year ended 31 December 2023 in accordance with section 476 of the Act. 

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

These financial statements are prepared in accordance with the provisions appliable to companies subject to the small companies regime. 

The notes at pages 14 to 22 form part of these accounts 27/9/2024 | 3:28 PM BST 

Approved by the board of directors on …………. and signed on their behalf by: 


**R Cooke** Director 

Page 12 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Cash in hand**<br>**Overdraft**<br>**Total cash and cash equivalents at the end of the year**<br>Note<br>**Cash used in operating activities**<br>**17**<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Proceeds from sale of fixed assets<br>**Cash used in investing activities**<br>**Cash flows from financing activities**<br>New borrowings drawn down<br>Repayment of borrowing<br>**Cash generated in financing activities**<br>Increase/(Decrease) in cash and cash<br>equivalents in the year<br>Cash and cash equivalents at the beginning<br>of the year<br>Total cash and cash equivalents at the end of the year|**3,321**<br>**(71,093)**<br> <br>**(67,772)**<br>**2023**<br>**£**<br>94,672<br>(94,350)<br>-<br>(94,350)<br>380,625<br>(408,613)<br>(27,988)<br>(27,666)<br>(40,106)<br>(67,772)|**2022**<br>**£**<br>32,026<br>(60,600)<br>-|**2022**<br>**£**<br>32,026<br>(60,600)<br>-|
|---|---|---|---|
|||(60,600)||
|||-<br>(49,066)||
|||(49,066)||
|||||
|||(77,640)||
|||||
|||37,534||
|||||
|||(40,106)||
||||**2,705**<br>**(42,811)**<br>**(40,106)**|



Page 13 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1. STATEMENT OF ACCOUNTING POLICIES** 

The following accounting policies have been used consistently in dealing with the items which are considered material to the Charity's affairs. 

## **General information** 

The entity is a charitable company limited by guarantee incorporated in England and Wales. The address of the registered office is given on the directors’ report. 

## **Basis of preparation of the financial statements** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The Bridge Church Bolton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectivities of the charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.  The cost of raising and administering such funds are charged against the specific fund.  The aim and use of each restricted fund is set out in the notes to the financial statements. 

## **Income** 

Grants received and invoiced income is accounted for on the accruals basis. 

Voluntary income and donations are accounted for as received by the company. 

Income from fundraising ventures is shown gross with the associated costs included in the respective cost categories. 

## **Resources expended** 

Resources expended are included in the accounts on an accruals basis, inclusive of any VAT. 

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity coffee shop. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and events for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

Governance costs include those costs allocated with meeting the constitutional and statutory requirements of the charity including the audit fee and costs linked to the management of the charity. 

All costs are allocated between the expenditure categories of the SOFA on the basis designed to reflect the use of the resource. Costs relating to particular activity are allocated already, others are apportioned on an appropriate basis e.g. floor areas per capital or estimated usage as set in note 5. 

Page 14 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1. STATEMENT OF ACCOUNTING POLICIES CONTINUED** 

## **Value Added Tax** 

Value Added Tax is not recoverable by the company and as such is included in the relevant costs in the Statement of Financial Activities. 

## **Leasing** 

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the Statement of Financial Activities on a straight line basis over the lease duration. 

## **Depreciation of tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its useful life: 

|Leasehold property|2%|Straight line basis|
|---|---|---|
|Leasehold improvements|2%|Straight line basis|
|Office equipment, fixtures and fittings|20%|Straight line basis|
|Computer equipment|20%|Straight line basis|



Assets under construction are accounted for at cost and are not depreciated until the accounting period in which they are brought into use. 

## **Pension costs** 

The charity makes payments on a money purchase (defined contribution) basis to the individual personal pension schemes of the employees. Contributions payable to this scheme are charged to the profit and loss account in the period to which they relate. These contributions are invested separately from the company’s assets in the individuals own personal pension schemes. The individual employees bear all the risk of future returns on the investment performance of the funds invested in their own individual pension fund. 

## **Donated services and facilities** 

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. 

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

## **Significant judgements and estimates** 

Estimations and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company make estimates and assumptions concerning the future. The resulting estimates will be definition seldom equal the actual results. Key estimates used within the financial statements are the useful economic lives of tangible fixed assets. There are no significant judgements or estimates that are considered to carry a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. 

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Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Financial instruments** 

The company has elected to apply the provisions of section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument. 

Page 16 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1.    STATEMENT OF ACCOUNTING POLICIES CONTINUED** 

## **Basic financial assets** 

Basic financial assets, including debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## **Basic financial liabilities** 

Basic financial liabilities, including bank loans and overdrafts, trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial assets classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest method. 

|**2.**<br>**DONATIONS AND LEGACIES**<br>**Restricted Unrestricted**<br>**Funds**<br>**Funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Gifts, offerings, donations<br>56,139<br>361,658<br>Gift aid<br>10,018<br>56,908<br>Grants<br>61,900<br>64,696<br>128,057<br>483,262<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>**Restricted Unrestricted**<br>**Funds**<br>**Funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Catering income<br>-<br>1,538<br>Other income<br>14,349<br>42,791<br>14,349<br>44,329<br>**4.**<br>**OTHER INCOME**<br>**Restricted Unrestricted**<br>**Funds**<br>**Funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Licence income<br> -<br>10,800|**TOTAL**<br>**Funds**<br>**2023**<br>**£**<br>417,797<br>66,926<br>126,596<br>611,319<br>**TOTAL**<br>**Funds**<br>**2023**<br>**£**<br>1,538<br>57,140<br>58,678<br>**TOTAL**<br>**Funds**<br>**2023**<br>**£**<br>10,800|**TOTAL**<br>**Funds**<br>**2022**<br>**£**<br>428,000<br>71,119<br>106,410<br>605,529<br>**TOTAL**<br>**Funds**<br>**2022**<br>**£**<br>668<br>104,849<br>105,517<br>**TOTAL**<br>**Funds**<br>**2022**<br>**£**<br>10,800|
|---|---|---|
||||
||||



Page 17 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**5.**<br>**EXPENDITURE ON**<br>**Charitable**<br>**Governance**<br>Activities<br>Costs<br>**£**<br>**£**<br>General church<br>541,625<br>10,853<br>Bridge Youth<br>13,949<br>-<br>Bridge Worship<br>995<br>-<br>Pastoral & Caring<br>516<br>-<br>Counselling<br>649<br>-<br>Integrity<br>-<br>-<br>Inspire<br>-<br>-<br>Shine<br>-<br>-<br>Alpha<br>1,170<br>-<br>Community<br>3,898<br>-<br>CAP<br>22,178<br>-<br>Mission<br>5,843<br>-<br>Activate<br>9,304<br>-<br>Oasis<br>1,866<br>-<br>Depreciation<br>74,167<br>-<br>676,160<br>10,853|**TOTAL**<br>**Funds**<br>**2023**<br>**£**<br>552,478<br>13,949<br>995<br>516<br>649<br>-<br>-<br>-<br>1,170<br>3,898<br>22,178<br>5,843<br>9,304<br>1,866<br>74,167<br>687,013|**TOTAL**<br>**Funds**<br>**2022**<br>**£**<br>607,602<br>14,654<br>1,495<br>810<br>898<br>3<br>56<br>2,280<br>1,234<br>4,937<br>18,645<br>5,750<br>10,504<br>2,432<br>75,813<br>747,113|
|---|---|---|



Page 18 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **6. NET INCOMING RESOURCES FOR THE YEAR** 

|**NET INCOMING RESOURCES FOR THE YEAR**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|The surplus of income over expenditure is stated after charging:|||
|Interest payable on bank loans and overdrafts|94,672|32,026|
|Lease payments recognised as an expense|-|-|
|Depreciation of tangible fixed assets|74,167|75,813|
|Loss on disposal of fixed assets|-|-|
|Auditors remuneration in respect of audit|7,000|6,265|
|Auditors remuneration in respect of accountancy services|2,900|1,279|



|**7.**<br>**INFORMATION ON EMPLOYEES**<br>Wages and Salaries<br>Social Security costs<br>Pension costs|**2023**<br>**£**<br>314,394<br>18,605<br>9,209<br>342,208|**2022**<br>**£**<br>353,198<br>24,206<br>9,763<br>387,167|
|---|---|---|



The average monthly number of employees was 19 (2022: 21). 

No employee received remuneration in excess of £60,000. 

## **8. TANGIBLE FIXED ASSETS** 

|**Assets**<br>**Fixtures,**<br>**Under     Land &**<br>**Fittings &**<br>**Construction Buildings**<br>**Equipment**<br>**£**<br>**£**<br>**£**<br>**Cost**<br>At 1 January 2023<br>78,600<br>2,326,461<br>409,571<br> <br>Additions<br>94,350<br>-<br>-<br>Disposals<br>-<br>-<br>-<br>Transfers<br> -<br> -<br> -<br>At 31 December 2023<br>172,950<br>2,326,461<br>409,571<br>**Depreciation**<br>At 1 January 2023<br>-<br>520,156<br>333,689<br>Charge for period<br>-<br>46,529<br>27,638<br>Disposals<br> -<br> - <br> -<br>At 31 December 2023<br> -<br>566,685<br>361,327<br>**Net book value**<br>At 31 December 2023<br>172,950<br>1,759,776<br>48,244<br> <br>At 31 December 2022<br>78,600<br>1,806,305<br>75,882<br>|**TOTAL**<br>**£**<br>2,814,632<br>94,350<br>-<br> - <br>2,908,982<br>853,845<br>74,167<br> -<br>928,012<br>1,980,970<br>1,960,787|
|---|---|



Page 19 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|||
|---|---|
|**CAPITAL SPEND - RESTRICTED FUNDING**||
|Original Cost<br>Cumulative<br>Depreciation to<br>31/12/2023<br>Net Book Value|_Depreciation_<br>_Term_|
|Property<br>£197,167<br>£10,550<br>£186,616<br>AV Equipment<br>£109,840<br>£69,987<br>£39,853<br>Fixtures and<br>Fittings<br>£2,106<br>£1,299<br>£807|_50 Yrs_<br>_5 Yrs_<br>_5 Yrs_<br> <br>|
|TOTAL<br>£309,112<br>£81,836<br>£227,276||



## **9. INVESTMENT IN SUBSIDIARY** 

Cost of unlisted investment 

|**2023**<br>**£**<br>1|**2022**<br>**£**<br>1|
|---|---|



## **Details of the company’s subsidiaries at 31 December 2023 are as follows:** 

## **Name of undertaking               Registered office     Nature of business         Class & shareholding** 

The Bridge Trading Company    England and Wales   Catering & Conference     100% ordinary (Bolton) Limited                                                             Venues 

**Capital & Reserves               Turnover          Expenditure          Loss for the year £                            £                             £                                     £** 10,435                 220,851               (224,064)                              3,213 

Bridge Church and the group headed by Bridge Church qualify as small as set out in section 383 of the Companies Act 2006 and are therefore considered eligible for the exemption from preparing consolidated accounts as determined by reference to sections 384 and 399(2A) of the Act.’ 

|**10.**<br>**DEBTORS**<br>Trade debtors<br>Prepayments and accrued income<br>Amounts due from group undertakings<br>Other Debtors|**2023**<br>**£**<br>896<br>1,732<br>21,778<br>4,646<br>29,052|**2022**<br>**£**<br>917<br>2,186<br>44,233<br>7,840<br>55,176|
|---|---|---|



Page 20 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

## **THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**11.**<br>**CREDITORS: amounts falling due within one year**<br>Bank loans and overdraft<br>Trade creditors<br>Accruals and deferred income<br>Other creditors|**2023**<br>**£**<br>109,410<br>2,256<br>17,245<br>10,848<br>139,759|**2022**<br>**£**<br>437,254<br>3,289<br>12,712<br>13,751<br>467,006|
|---|---|---|



The bank loans and overdraft are secured by a charge over all land and buildings owned by the Church, and by a debenture creating a fixed and floating charge over all assets of the Church. 

|**12.**<br>**CREDITORS: amounts due after more than one year**<br>Bank loans|**2023**<br>**£**<br>647,567|**2022**<br>**£**<br>319,429|
|---|---|---|



The bank loans are secured by a charge over all land and buildings owned by the Church, and by a debenture creating a fixed and floating charge over all assets of the Church. 

## **13. RECONCILIATION OF FUNDS** 

|Unrestricted funds<br>Restricted funds<br>**Total Funds**|**At 1 Jan**<br>**2023**<br>**£**<br>750,959<br>481,275<br>1,232,234|**Income**<br>**Expenditure**<br>**£**<br>**£**<br>538,391<br>(586,277)<br>142,406<br>(100,736)<br>636,045<br>(687,013)|**At 31 Dec**<br>**2023**<br>**£**<br>703,073<br>522,945<br>1,226,018|
|---|---|---|---|



The restricted fund mostly relate to the charity’s fixed assets being the donations collected in the year for funding of the church building. Other restricted funds relate to Missions International project work and all grant income and related expenditure. 

## **14. PENSION COMMITMENTS** 

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund during the period and amounted to £9,209. 

The charity’s contributions are invested separately from the charity’s assets in the individuals own personal pension schemes. The individual employees bear all the risk of future returns on the investment performance of the funds invested in their individual pension fund. 

## **15. DIRECTORS REMUNERATION** 

The following directors received remuneration during the year: 

**Richard Cooke** – Gross Salary: £59,573 (2022: £56,971), Pension Contributions: £2,963 (2022: £2,108) **John Squires** – Gross Salary: £Nil (2022: £10,666), Pension Contributions: £Nil (2022: £530) **Andrew Stokes** – Gross Salary: £19,806 (2022: £24,213), Pension Contributions £402 (2022: £173) **Arron Fosters** – Gross Salary: £28,657 (2022: £17,639), Pension Contributions £632 (2022: £395) 

Page 21 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F 

**THE BRIDGE CHURCH BOLTON (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

Remuneration was paid according to provision in the Memorandum and Articles of the charity for providing their services to the charity. 

The number of directors to whom retirement benefits are accruing under money purchase schemes was 3 (2022: 4). 

## **16. RELATED PARTIES** 

In 2018 a trading subsidiary company was created to take on the trading activities of the charity, named The Bridge Trading Company (Bolton) Limited. All profits from the subsidiary are to be donated to The Bridge Church Bolton. 

During the year the charity charged licence fees for the use of premises to The Bridge Trading Company (Bolton) Limited of £10,800 (2022: £10,800). During the year the charity received a donation from The Bridge Trading Company (Bolton) Limited totalling £44,752 (2022: £14,259). £21,778 (2022: £44,233) was owed from The Bridge Trading Company (Bolton) Limited at the year end. This amount is repayable on demand. 

## **17.       RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|Net movement in funds<br>Add back depreciation charge<br>Add back loss on disposal of fixed assets<br>Decrease/(Increase) in debtors<br>Increase/(Decrease) in creditors<br>**Net cash used in operating activities**|**2023**<br>**£**<br>(6,216)<br>74,167<br>-<br>26,124<br> <br>597<br>**94,672**|**2022**<br>**£**<br>(25,267)<br>75,814<br>-<br>(18,492)<br>(29)|
|---|---|---|
|||**32,026**|



Page 22 



Docusign Envelope ID: EC0B571C-585F-4DCB-BEE6-5D911DD2248F