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2023-08-31-accounts

Charity registration number 1122536

Company registration number 06362939 (England and Wales)

BRIDGE SCHOOL MALVERN LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

BRIDGE SCHOOL MALVERN LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Helen Attree
Julie Taylor (Appointed 3 May 2023)
Sarah Slater (Appointed 30 January 2023)
Geoffrey Vevers
Judith Keene
Secretary Neil Hornby
Charity number 1122536
Company number 06362939
Registered office Unit 2, Hanley Workshops
Hanley Swan
Worcester
Worcestershire
WR8 0DX
Auditor Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Bankers Co-operative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6WT

BRIDGE SCHOOL MALVERN LTD

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 18

BRIDGE SCHOOL MALVERN LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees present their annual report and financial statements for the year ended 31 August 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

a) Policies and objectives

The School's objectives of making learning available to children and young people for whom the mainstream educations system does not work remains strong. The school continues to offer a range of therapeutic and recreational activities that promotes pupils' ability to engage socially and to prepare for fulfilling independent adult lives.

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

Achievements and performance

The school has continued to develop over the last year. Student numbers have been stable and the school remains at capacity in both the main site and the Sixth Form. The school has continued to broaden the range of opportunities available to students and this has included additional support services across the whole school, 89% of young people made a positive progression into work or further training.

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Financial review

Bridge School Malvern Ltd's total income for the year was £1,985,954 (2022: £1,617,581) and total expenditure was £1,815,239 (2022: £1,632,112). The project showed a surplus for the year of £170,715 (2022 deficit: £14,531). A breakdown between unrestricted and restricted funds is shown in the accounts.

Reserves policy

The Governors aim to maintain free Cash Reserves in unrestricted funds at a level which equates to approximately 2 months of unrestricted charitable expenditure. The Governors consider that this level will provide sufficient funds to respond to short-term changes in funding or loss of students. In addition, a Designated Building Investment Fund will be established for future investment in infrastructure, particularly to replace facilities which are lost through an inability to renew existing building/site leases. Any unexpended sums, after the Cash Reserve has been met, will be allocated to this fund. At the year end free reserves excluding fixed assets were £445, 097 (2022 £301,968). This is split between Cash Reserves £302,539 and Building Investment Fund £142,558.

Structure, governance and management

The charity is a company limited by guarantee and was set up by a Trust deed.

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

Helen Attree

Julie Taylor (Appointed 3 May 2023) Sarah Slater (Appointed 30 January 2023) Geoffrey Vevers Judith Keene

BRIDGE SCHOOL MALVERN LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Auditor

Kendall Wadley LLP was appointed as the auditor of the charity for the year.

In accordance with the company's articles, a resolution proposing that Kendall Wadley LLP be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Helen Attree Trustee

13 May 2024

BRIDGE SCHOOL MALVERN LTD

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2023

The trustees, who are also the directors of Bridge School Malvern Ltd for the purpose of company law, 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 Practice).

Company 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 and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that 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.

BRIDGE SCHOOL MALVERN LTD

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD

Opinion

We have audited the financial statements of Bridge School Malvern Ltd (the ‘charity’) for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. 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:

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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

BRIDGE SCHOOL MALVERN LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 the trustees 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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

Audit response to risks identified

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BRIDGE SCHOOL MALVERN LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Morley ACA (Senior Statutory Auditor) for and on behalf of Kendall Wadley LLP

13 May 2024

Chartered Accountants Statutory Auditor

Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Kendall Wadley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

BRIDGE SCHOOL MALVERN LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
3
601
-
Charitable activities
4
1,918,168
20,047
Investments
5
203
-
Other income
6
46,935
-
Total income
1,965,907
20,047
Expenditure on:
Raising funds
7
-
-
Charitable activities
8
1,795,192
20,047
Total expenditure
1,795,192
20,047
Gross transfers
between funds
-
-
Net income/(expenditure)
for the year/
Net movement in funds
170,715
-
Fund balances at 1
September 2022
601,516
356
Fund balances at 31
August 2023
772,231
356		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
601
120
13,798
1,938,215
1,579,326
15,770
203
7
-
46,935
8,560
-
1,985,954
1,588,013
29,568
-
10,558
-
1,815,239
1,583,795
37,759
1,815,239
1,594,353
37,759
-
(8,547)
8,547
170,715
(14,887)
356
601,872
616,403
-
772,587
601,516
356		 Total
2022
£
13,918
1,595,096
7
8,560
1,617,581
10,558
1,621,554
1,632,112
-
(14,531)
616,403
601,872
Donations and
legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1
September 2022
Fund balances at 31
August 2023

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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

BRIDGE SCHOOL MALVERN LTD

BALANCE SHEET

AS AT 31 AUGUST 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2023
£
88,133
431,914
520,047
(74,594)		 £
327,134
445,453
772,587
356
772,231
772,587		 2022
£
66,806
294,694
361,500
(59,176)		 £
299,548
302,324
601,872
356
601,516
601,872

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

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

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 13 May 2024

Helen Attree

Trustee

Company registration number 06362939

BRIDGE SCHOOL MALVERN LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023

Notes
Cash flows from operating activities
Cash generated from operations
20
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(51,066)
1,200
203		 £
186,883
(49,663)
-
137,220
294,694
431,914		 2022
£
(26,707)
-
7		 £
96,720
(26,700)
-
70,020
224,674
294,694

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

Charity information

Bridge School Malvern Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 2, Hanley Workshops, Hanley Swan, Worcester, Worcestershire, WR8 0DX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold land to market value. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land Not depreciated Leasehold land and buildings 10% straight line Plant and equipment 5% - 20% reducing balance Computers 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.9 Financial instruments

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

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

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

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

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted Restricted Total
funds funds funds
2023 2022 2022 2022
£ £ £ £
Grants 601 120 13,798 13,918

4 Charitable activities

Services provided under contract
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
1,938,215
1,918,168
20,047
1,938,215		 2022
£
1,595,096
1,579,326
15,770
1,595,096

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

5
6
7		 Investments
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
203
7
Other income
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Other income
46,935
8,560
Raising funds
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Other fundraising costs
-
10,558
-
10,558		 Investments
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
203
7
Other income
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Other income
46,935
8,560
Raising funds
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Other fundraising costs
-
10,558
-
10,558
10,558

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

8 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2023 2022
£ £
Staff costs 1,463,182 1,256,601
Depreciation and impairment 22,280 20,748
Staff training 10,547 7,755
Teaching expenses 83,958 121,440
Consumables 473 3,068
Rent, rates and utilities 41,312 77,455
Building/site maintenance and development 80,470 54,920
Examination fees 4,973 2,268
Vehicles expenses/staff mileage 7,386 4,449
Animal care 10,403 4,273
Computer costs 18,300 44,538
Audit and accountancy fees 19,954 24,039
Legal and professional charges 9,340 -
Sundry expenses 4,509 -
Bank charges 1,304 -
Insurance 16,856 -
Pupil Premium costs 19,992 -
1,815,239 1,621,554
1,815,239 1,621,554
Analysis by fund
Unrestricted funds 1,795,192 1,583,795
Restricted funds 20,047 37,759
1,815,239 1,621,554
9 Auditor's remuneration
Fees payable to the charity's auditor for the audit of the charity's annual 2023 2022
accounts:
£ £
Audit of the charity's annual accounts 12,000 19,855
Fees payable to the charity's auditor in respect of:
All non-audit services not included above - 4,184
Total audit fees 12,000 24,039

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

10 Trustees

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

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
48
2023
£
1,290,455
113,284
59,443
1,463,182		 2022
Number
44
2022
£
1,103,909
98,792
53,900
1,256,601

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

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

13
Tangible fixed assets
Freehold land
Leasehold
land and
buildings
Plant and
equipment
Computers
£
£
£
£
Cost or valuation
At 1 September 2022
72,000
146,134
170,283
52,207
Additions
-
43,530
7,350
186
Disposals
-
-
-
(1,243)
At 31 August 2023
72,000
189,664
177,633
51,150
Depreciation and impairment
At 1 September 2022
-
25,496
97,604
17,976
Depreciation charged in the year
-
8,500
5,515
8,265
Eliminated in respect of disposals
-
-
-
(43)
At 31 August 2023
-
33,996
103,119
26,198
Carrying amount
At 31 August 2023
72,000
155,668
74,514
24,952
At 31 August 2022
72,000
120,638
72,679
34,231		 Total
£
440,624
51,066
(1,243
490,447
141,076
22,280
(43
163,313
327,134
299,548

The professional valuation of freehold land was undertaken in October 2021 by David E J Prosser, FRICS. The trustees believe the valuation is still true and fair in the current financial year.

2023 2022
£ £
Freehold 72,000 72,000

Freehold land with a carrying amount of £72,000 was revalued at October 2021 by David E J Prosser, FRICS, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 2023
£
63,630
24,503
88,133		 2022
£
40
66,766
66,806

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

15 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
35,357
21,407
6,701
11,129
74,594		 2022
£
27,546
11,808
5,225
14,597
59,176

16 Restricted funds

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

Movement Movement
in funds in funds
Incoming Balance at Incoming Balance at
resources 1 September resources 31 August
2022 2023
£ £ £ £
Pupil Premium - 356 - 356
Analysis of net assets between funds
Unrestricted Restricted **Total ** Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 31
August 2023 are
represented by:
Tangible assets 327,134 - 327,134 299,548 - 299,548
Current assets/(liabilities) 445,097 356 445,453 301,968 356 302,324
772,231 356 772,587 601,516 356 601,872

17 Analysis of net assets between funds

18 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
38,625
11,250
49,875		 2022
£
48,837
54,601
103,438

BRIDGE SCHOOL MALVERN LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

18 Operating lease commitments

(Continued)

The operating leases represent leases of the Former Print Building and Units 2 and 3 Hanley Workshop from third parties. The leases are negotiated over terms of 1-5 years and rentals are fixed for 1-5 years. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.

19 Related party transactions

During the year income of £35,997 (2022: £61,009) was received from Bridge The Gap Malvern Limited in relation to the use of Bridge School Malvern Ltd staff and services. Bridge The Gap Malvern Limited is a company in which Neil Hornby, CEO of Bridge School Malvern Ltd, is a director and shareholder.

During the year purchase of £NIL (2022: £NIL) were made on behalf of Bridge The Gap Malvern Limited.

At the year end £NIL (2022: £9,340) is included within debtors due within one year.

20 Cash generated from operations

Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated from operations		 2023
£
170,715
(203)
22,280
(21,327)
15,418
186,883		 2022
£
(14,531)
(7)
20,748
135,611
(45,101)
96,720

21 Analysis of changes in net funds

The charity had no debt during the year.