Registered nurnber.. 06362939 Charty numbgr.. 1122536 BRIDGE SCHOOL MALVERN LTD (FORMERLY KNOWN AS THE BRIDGE EDUCATION CENTRE, MALVERN HILLS) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Bishop Fleming BRIDGE SCHOOL MALVERN LTD {A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Reforenco and admlnlstratlve details of the Company. It8 Trustees and advisers Trustees. report Independent audltorn. r8port on the financial statements Statemènt of flnancial actlvltles Balance Sheet 10 stst8m6nt of cash flows Notes to the flnanclal $tatements 12-23 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees Judith Keene Julia Wolff (Resigned 26 January 20221 Debbie Austin (Resigned 26 January 20221 Helen Attree. Chair Angle Famief (Resigned 8 December 2021) Barry Au5bn (Resigned 26 January 20221 John Lucas (Resigned 1 January 20221 Shaun Paskin (Appointed 4 JanLtary 20221 Rev. Geofftey Vevers IAppoinled 18 November 2021) Esther Partridge-wamer (Appointed 17 December 2021, Resigned 24 January 2022) Company reglstered numbor C6362939 Charity ro9I8terèd number 1122536 Regl8tered offl¢• Unil 2 Hanley Workshops Hanley Road Hanley Swan Worcester WR8 ODX Chlef executlve offlcer Neil Homty Independent 4udStorn Bishop Fleming LLP Chartered A¢¢ountants 1-3 College Yard Worcester WR12LB Page 1 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENOED 31 AUGUST 2022 The Trustees present their annual report logethef With the audited financial statements of the Bridge School Malvern Ltd for the year 1 September 2021 to 31 August 2022. The Annual report serves the purposes ol both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements ol the charitable company comply with the current slatulory requirements, the reqU1￿MentS of the Charitable Company goveming document and the provisions of the Statement of Recommended Praelice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} leffecbve 1 January 20191. Since the Company qualifies as small under secb'on 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objgctive8 and activltles Policlos and oblectlve8 The School's objeclives of making learning available lo children and young people for whom the mainstream education system does not work remains strong. The school continues lo offer a range of Iherapeulic and recreational actsvitses that promotes pupils. ability to engage soaalty and lo prepare for fulfilling independent adult lives. In setting obieclives and planning for activities, the Trustees have given due cons￿eratiOn lo general guidance published by the Charity Commission relating lo public benefit. including the guidan￿ 'Publi¢ benefit.. running a charity IP821'. b. Stiategles for achlevlng oblectlves In ensuring the objectives a￿ mel. the Trustees operate a rigorous pr￿sS of largel setting and accountability which are implement through the School Improvement Plan and temily Head Teachers Report5. These focus amongst other things on improving access lo an appropriate eduub'on and safety for all pupils. and the well- being and development of staff. c. Actlvltlès und•rt•kon to achleve obJectSve8 The Trustees maintain ongoing tracking of progress lowards financial and academic priorities, whi¢h are viewed according lo an annual prcgramme of scrutiny and review. Achlevemgnts and perfomiance . Maln achlevements ofthe Comp•ny The main school site in Hanley Swan has continued to develop over the last year. Sludenl numbers have been stable and the school remains al capacity The school has continued lo broaden the range of opportunities available lo students and this has included additional support services. 1000A of young people made a positive progression into work or further training. b. Revlew of actlvltles Regarding the 16-19 provision. the Bridge Business Centre has continued to be successful and is at capacity. The majority of our young people successfully progressed into work or further training. Page 2 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Flnancial revlew a. Flnancial Review Bridge School Malvern Lld's total income for the year was £1,617.581 12021.. £1.468,5811 and total expenditure including adjuslmenls for depreciation, Pfepaymenls and accruals was £1,621.55412021.' £1,429,628). Overall, the results showed a deficit for the year of £14.531 12021 surplus.. £74,487). A breakdown be￿een unrestricted and restricted funds is shown in the accounts. b, Golng con¢0rn After making appropriate enquiries. the Tnjstees have a reasonable expectation that the Company has adequate resources lo continue in operational existence for the fofeseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial stslemenls. Further details regarding the adoption ol the going concern basis can be found in the accounting policies. ¢. Re8orve$ pollcy Bridge School MaTvem Ltd aims to have at leasl six months lurnover in free reserves. There has been Some progress towards reaching this over the year, and al the year end free raseNes excluding fixed assets were £301,25812021'. £322,814). d. Prlnclpal rlsk$ and uncgrtalntle• The Trustees have reviewed the major risks to which the school is exposed. The principal risks facing the school are as lollows.. Strategic and reputational risks- Potential failure lo effectively manage the Charity's finances, internal controls, compliance wilh regulations and legislation, slatulory returns etc. The Trustees contsnue lo review and ensure that appropriate measures are in place to miligale these risks. Trustees also ensure that pupil success and achievement are closely monitored and reviewed in order lo maintain the cur￿nt high level of pupil referrals. Operational risks - The School'$ success is reliant on the quality of its slaff and so the Trustees monitor and review policies and procedures lo ensure continued development and training of staff. The Iruslees continue to ensure that the highest standards are maintained in the areas of selection and monitoring of staff, the operation of safeguarding policies and procedures, health and safety and disapline. Compliance risks - The School has robust inlemal finanaal management Pr￿edureS and appoints exiernal professionals to oversee finan¢ial rigour and compliance. Financial risks - 85% of funding comes from one local authority. Whilst this level is expected lo continue, there is no assurance that Govemment policy or practice will remain the same or that publi¢ funding will continue at the same levels or on the same terms. Whilst the schwl is oversubscribed, risks to revenue funding from falling roll are small. Howeve¥. the possible reduction or freeze on Govemment's overall education budget. potential changes in funding arrangements for High Needs and increasing employment and premises costs mean that budgets need to be constantly scrubnised. e. FSnan¢ial rlsk management objectives and policies A risk register is maintained in the form of an Intemal Financi81 Control Checklist. Page 3 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Structure, governance and management Constitutlon Bridge School Malvem Ltd is registered as a charttable company limited by guarantee and was set up by 8 Trust deed. b. Methods of appolntment or èlectlon of Twstee$ The management of the Company is the responsibility of the Trustees who are elected and co-opted under th8 terms of the Trust deed. STATEMENT OF TRUSTEES. RESPONS181LITIES The Trustees Iwho are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practr'*l. Company law requires the Trustees lo prepare financial statements for each financial . Under company law, the Trustees musl not approve the financial stslements unless they a￿ satisfied that they give a true and fair view of the slate of affairs of the Company and of ils incoming resources and application of resources. including ils incomo and expenditure, for that period. In preparing these finanaal stalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly.. observe the methods and principles of the Charities SORP {FRS 102}', make judgments and accounting eslimales that are reasonable and prudent., stale whelhef applicable UK Accounting Standards IFRS 102) have been followed, subject lo any material departU￿S disclosed and explained in the financial statements., prepare the ffnancial statements on the going concern basis unless il is inappropriate lo presume that th& Company will continue in business. The Tru$tee$ are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy al any time the financial positson of the Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for Safeguarding the assets of the Company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsc108uro of Information to audltors Each of the persons who are Trustees al the ts'me when thi$ Trustees, report is approved has confimied that.. so far as that Trustee is aware, the￿ is no ￿leYaftt audit information of which tha charity's auditors are unaware, and that Trustee has taken all the sleps that ought to have been taken as a Tnjslee in order lo be aware of any relevant audit informatson and to establish that the charity's auditors are aware of that information. Approved by order of the member$ of the toard of Trustees and signed on their behalf by.. Helen Attree Chair Page 4 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEE} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BRIDGE SCHOOL MALVERN LTD OPINION We have audited the of Bridge School Malvem Ltd (the charitsble company,) for the year ended 31 August 2022 which comprise the Slalemenl of financial activities. the Balan￿ sheet, the Statement of cash flows and the related notes, including a summary of significant ac¢ountr"ng poliryes. 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 A¢cepled Accounting Practice). In our opinion the gNe a true and fair view of the slate of the charitable company's affairs as at 31 August 2022 and of its incoming resources and applicats.on of resources, including its income and exp8ndilure for the year then ended., have been propedy prepared in accordance with United Kingdom Generally AC￿pIed Accounting Practice,. and have been prepa￿d In accordance with Ihe requirements of the Charitses Acl 2011. BASIS FOR OPINION We conducted our audit in accordance with Intemational Standards on Auditing {UKI IISA$ IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities lor the audit of the section of our report. We are independent of the charitsble company in accordance with the ethical requirements that are relevant lo our audit of the in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have conduded that the Trustees, use of the going concern basis of a¢￿untIng in the preparation of the financial slalements is appropriate. 8a5ed on the work we have perfomed, we have not identified any material uncertainties relating lo events or Conditions that, individually or colleclivety, may cast significant doubl on the charitable company's ability to continue as a going Concern for a peric41 of at least ￿1v0 months from when the financial statements are aulhorised for issue. Our responsibilities and the re$por¢sibilitss of the TnJ$te8s respect to going concem are described in the relevant sections of this report. Page 5 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BRIDGE SCHOOL MALVERN LTD ICONTINUEDI OTHER INFORMATION The other infomalion comprises the information included in the Annual report other than the and our Auditors, report Ihereon. The Trustees are responsible lor the other infomialion contained within the Annual report. Our opinion on the doe5 not cover the other information and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsislenl with the or our knowledge obtsined in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whether this gives rise lo a material misslalement in the themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other infonnalion, we are required to report that fact. We have nothing lo report in this regard. OPINION ON OTHER mA￿ERs PRESCR18ED 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 whi¢h the finanaal slalemenls are prepared is consistent with the financial stalemenls. the Trustees, Report has b8en prepared in accordance with applicable legal requirements MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In light of our knowledge and understanding of the charitable company and its environment obtained in the Course of the audit, we have not identified malenal misstslements in the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report lo you If, in our opinion.. adequate accounting records have not been kept, or retum$ adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and ￿turn9'. or certain disclosures of Trustees. remunefabon specified ty law are not made," or we have not received all the information and explanations we require for our audit", or the Trustees were not enlilled to prepare the financial slalements in accordance with the small companies regime and lake advantage of the small companies. exemptions in preparing the Trustees, Report and from the requirement lo prepare the Strategic Report. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, responsibililies statement, the Trustees (who a￿ also the directors of the charitable company for the puiposes of company lawl are responsible for the preparation of the and lor being satisfied that they give a tnje and fair view. and for such inlernal control as the Trustees determine is necessary to enable the preparation of that are free from material misstatement, whether due to fraud or error. In preparing the the Trustees are responsible for assessing the charitable companls ability lo continue as a going concern, disclosing, as applicable, matters felaled to going con￿rn and using the going concern basis of accounting unless the Trustees either intend lo liquidate the tharitsble company or to cease operations, or have no realisb'c altemab've bul to do so. Page 6 BRIDGE SCHOOL MALVERN LTD IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF BRIDGE SCHOOL MALVERN LTD (CONTINUED) AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appointed as audrtor under $ectyon 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect there under. Our objectives are lo obtain reasonable assurance about whether the as a whole are free from material misslatemenl, whether due lo fraud or error. and lo issue an Auditors. report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordan¢e with ISAS IUKI will always detect a material misslaternenl when it exists. Misstalemenls can arise from fraud or error and are considered material if, ind¢vidually or in the aggregate, Ihey could reasonably be expected lo influence the e¢onomic decisions of users tsken on the basis of these . lffegularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of dele¢ling irregularities, including fraud is detailed below.. In assessing the risk of material misslaterrent in respect of irregulanties. including fraud and nonrfomplianc8 with laws and regulations, our procedures in¢luded the following.. the nature of the seelor, control environment and the Chanty's perfornian￿.. results of our enquiries of management and the Trustees, about their own identification and assessment of the risks of irregularities, any matters we identified having obtained and reviewed the Charity's dcrumentalion of their policies and procedures relating lo.. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non