kendall wadley charlered oecountornts Your Ref Our Ref SJMICAQIB339 17 March 2025 PRIVATE AND CONFIDENTIAL The Board of Trustees Bridge School Malvern Ltd Unit 2, Hanley Workshops Hanley Swan Worcester Worcestershire WR8 ODX Dear Trustees, Bridge School Malvern Ltd Audit of the financial statements for the year ended 31 August 2024 The purpo of this letter is to report to you the significant findings from the audit of Bridge School Malvern Ltd's financial statements and to assist you in fulfilling your responsibilities as trustees and to maintain effective 10-waY communication between us. In addition, we are required by International Standards on Auditing (ISAS) (UK & Ireland) to communicate certain matters to you in connection with our audit. Our findings have been discussed with Neil Hornby and Emma Thomas, and we report below those matters which we consider merit your attention. a) Expected modifications to the auditors, report There are no expected modifications to the auditors, report. b) Written representations We are required by ISAS to obtain written confirmation from you of certain representations that have been made to us during the course of our audit and you have supplied us with the appropriate letter of representation. c) Unadjusted misstatements There were no unadjusted misstatements determined during the course of the audit except for those we consider to be clearly trivial. Kendall Wadley LLP Granla Lodge 71 Graham Road Mver WR14 2JS Tel., 01684 892666 Fax.. 01684 892851 Email- malvern@kwca.co.uk www.kwca.co.uk Olficegalso al Worc25ter T[015051?62LS FaX1019DS161t706 HerefLwd Tel1014321 64$2 F8x1014321858419 Reerd 71 Grathm RDad Malvern 14 2JS Reuislpred England W9$ Nbfrr OC31B493 Rtolstered by IrtUreICIr[e[eQl A¢couNAnis in Engknd Wiles iocaryy tLNnpanyau0iiwork ITr UK A Ilsiol Memr80[ Ketthll Wadw LLP isavailatAe for illspectlon ai Tl QrahL¥X Road Mdvern WRI4 ?JS
kencjall wadley chL)rLor•d occountrjntts Page 2 d) Material weaknesses in the accounting and internal control systems As you are aware from our letter of engagement, our audit procedures were directed towards testing the accounting systems in operation upon which we have based our assessment of the accounts, No significant weaknesses were identified during our audit, however, some recommendations for improvement were discussed during our meeting, a copy of the schedule discussed is provided. We would remind you that our audit procedures are designed with a view to enabling us to form an opinion on the charitable company's financial statements and, consequently, our comment should not be regarded as a comprehensive statement that no weaknesses exist, or that there are no improvements that might be made. ej Qualitatlve aspects of the entItS accounting practs'ces and flnancial reportlng We have no comments to make concerning the qualitative aspects of the charitable company's accounting practices and financial reporting. Other matters required by Intemational Standards on Auditing (ISAS) (UK & Ireland) to be communicated Theie are no other matters that we are required by ISAS to communicate to you. g) Other relevant matters relating to the audit As part of the audit and accounting function adjustments have been discussed with you and processed. Two schedules are enclosed detailing the adjustments made to the management accounts during the preparation of the statutory financial statements. Please sign and return one copy to us, thereby forrnalising youi agreement to these adjustments. We would like to take this opportunity of expressing our thanks to you for the assistance given to us during the course of the audit. This letter has been prepared for the sole use of Bridge School Malvern Ltd. It must not be disclosed to third parties, quoted or referred to, without our prior written consent. No responsibility is assumed by us to any third person. If you requlre any clarification or assistsnce in dealing with any of the matters referred to in this letter, please contact Sarah Morley. Yours faithfully KENDALL WADLEY LLP
kendall wadley charter*cl accountants We acknowledge receipt of this Setter and agree to this and the reconciliation of our management information to the statutory financial statements Name..S.AQA4.S.LBERsigned....... ... ........ l+isI?5 For and on behalf of Bridge School Malvern Ltd,
Charlty 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 2024
BRIDGE SCHOOL MALVERN LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Helan Attree Julie Taylor Sarah Slater (Chalrl Geoffrey Vevers Clare Gabrtel Graham Quint Julia Cherry Clarke (Appointed 10 September 2024) (Appointed 13 November 2024) {Appoint8d 8 January 20251 Secretsry Neil Hornby Charfty number 1122536 Company number 06362939 Reglstered offico Unit 2, Hanley Workshops Hanley Swan Worcester Worcestershir8 WR8 ODX Audltor Kendall Wadl&y LLP Granta Lodge 71 Graham Road Malvem Worcestershlre WR14 2JS Banker8 Cowoperatlve Bank PO Box 250 Deif House Southway Skelmersdale WN8 611
BRIDGE SCHOOL MALVERN LTD CONTENTS Pago Trustees, report statement of trustees, re4)onsibllltles Independent auditor's report statement of financlal actlvlties Balance sheet statement of cash flows Notes to the financial statements 10-19
BRIDGE SCHOOL MALVERN LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The truste88 present their annual report and financial statements for the year ended 31 August 2024. The financial statements hav@ been prepared In accordance ryth the accountlng pollcies set out in note 1 to th8 financial statements and comply wlth the charity's governing document, the Companies Acl 2006 and "Accounting and Reportlng by Charltl89: Statement of Recommended Practice applicable lo charitles preparing their accounts In accordance with Ihe Finandal RertIng Standard appllcable in the UK and Republic of Iroland {FRS 102). (effectlve 1 January 2019). Objactlves and activities Objecllves We are an independent spedal school worklng with young people who have struggled in mainstream schools, or for whom mainstream education is not suitable. Liking themselves, recognising thelr unlque gifts and being proud of what they do, ar8 all as Important as obtalning quallfications. We focus on the soclal, pracllcal and personal skills that will help them to achieve and keep a lob and Inake positlve contributions to their families and communities. The trustees have pald due regard lo guidanc8 issued by the Charity Commisslon In deciding at activStles the charity should undertake. Achlevements and perfomiance The school has contlnued to d8v8lop over the last year. Student numbers have been stable and the school remains at pacItY in both the main site and the Sixth Fomi. The school has continued to broaden the range of OPPDrtunltles available to students and this has included additional support services across the whole school, goyg of young peop18 made a positive progression into work or further training. Flnanclal revlew Golng concem After maklng appropriate enquirie8. the Tru8tees h8ve a reasonable expeclation that the Company has adequate resource8 to continue In operatlonal existence for the foreseeable future. For this reason, they continue to adopt the going concem basls in preparing the financial statements. Further details reg8rdlng the adoplon of the going concern basis can be found in the 8ccounting policies. Flnanclal revlew Brldge School Malvern Ltd's total Incom& for the year was £2,158,435 (2023,, £1,985,954) and total expenditure was £2,146,977 which includes a loss on disposal of tangible fixed assets of £1,053 (2023: £1,815,239 no tanglble fixed asset disposal impact). Achieving a surplus for the year of £11,458 {2023., £170,715). A breakdown beeen unrestrlcted and restricted funds is Shown in the accounts. Reserves poIIcy Th& Governors alm to maintain free cash reserves in unr8slricted funds at a level that equates to 20% of annual charitable expenditure, Th6 Govemor8 consider that this level wlll provide sufficient funds to respond to short-term change8 in funding or10ss of students. If it is required that free cash reserves are used the CEO will inform the governors glving the reason and Ilkely duration. In addition, a Designated Building Investment Fund may be established as required for tUre Inveslment In infrastructure, partlcularty to r&place faciliti8S that are lost through an inabilily to renew exlstlng bulldinglsite leases. Any unexpended sums, after th8 cash reseNe has been met, at the request of the Irustees will be allo¢at8d to this fund. FSC may frorn time to time direct that a specific source of revenue be sel asid8 for reserves. Permission from the FSC wlll be require(I befor8 any funds from the Designated Bullding Investrnent Fund are used,
BRIDGE SCHOOL MALVERN LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management The charlty Is a company Ilmlled by guarantee and was sat up by a Trust d89d. The tru8t8es, who are also the dlrectors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were,. Helen Attree Julie Taylor Sarah Slater (Chair) Geoffrey Vevers Judith Keene Clar8 Gabriel Graham Quint Julia Cherry Clarke (Resigned 9 July 2024} {ApFrf)inled 10 September 2024) (Appointed 13 November 2024) (Appointed 8 January 2025> The post of Chalr of Governors is held by Sarah Slater. Th8 management of the Company is the responsibility of the Tru8t88s who are 818Cted and co-opted under the terms of the Trust deed. None of the trustees has any beneficial inl8r88t in the company. All of the trustees are members of the company and guarantee to contribute £1 in th8 @vent of a wlnding up. Audltor In accordanG8 With the company's articles, a resolutlon proposing that Kendall Wadley LLP b8 re8ppoint8d as auditor of the company will be PLrfc at a GeneRI Meetlng. Dlsclosure of infomiatlon to auditor Each of the trustees has confimied thal there Is no Information of which th8y are aw8re which is relevant to the audit, but of which the auditor is unaware. They have further confinned that they have taken appropriate steps to identify such relevant information and to establlsh that Ihe auditor Is aware of such inforniation. The trustees, report was approved by the Board of Trustees. Sarah Sl8ter (Chair) Trust8e 12 May 2025
BRIDGE SCHOOL MALVERN LTD STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees, who are also the dlrectors of Brldge School Malvern Ltd for the purpose of company law, are responsible for preparing Ihe Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptsd Accounting Practice), Company Law requires the tTUSte8S to prepare financial statem8nts for @ach financial y&ar which give a true and fair vlew of the state of affalrs of the charlty and of the incomlng resources and appllcatlon of resources, Includlng the income and expenditure, of the charitable company for that year. In preparing these finan¢lal statements, Ihe trustees are required to: select sutsble a¢countlng polldes and then apply them ¢onslstently,' - observe the methods and prlnclples In Ihe Charltles SORP. make judg8m8nts and estimat@s that are r8asonabl8 and prud8nt' State whether applicable UK Accounting Standards have b8en followed, subject to any mat8rial departur88 dlsclosed and explalned In the financlal statements; and prepare th8 financial siatements on th8 going conc8m basis unless It is inappropriate to presume that the charty will continue in operatlon. The truslees are responslble for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy al any time the financial position of the charity and 8nabl8 them to ensure that th8 financial stat8m8nts comply with the Companies Act 20c. They are also responsible for safeguarding th& assets of the charity and hence for taking reasonable steps for the prevenllon and detectlon of fraud and other Irregularllies.
BRIDGE SCHOOL MALVERN LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD Opinion We have audlted the financial statements of Bridge School Malvern Lld {the 'charlty') ft)r the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financlal statements, including significant accounting policles. Tre financial reportlng framework thal has been applled in their preparation Is applicable law and Unlted Kingdom Accounting Standards, induding Financial Reporting Standard 102 Tha Financial Reporting sf8ndard 8ppIiGabla In the UK and Republio of Ireland (Unlted Klngdom Generally Accepted Accounting Practice). In our opinion, the financial statem8nls: glve a true and fair view of the state of the chatitable company's affalrs as at 31 August 2024 and of it8 incoming resources and application of r88ources, for the year then ended; have been properly prepared In accordance with Uniled Kingdom Generally Accepted Accounting Practice. and have been prepared In accordance with the r8quirements of the CompaniesAct 2006. Basls for oplnlon We conducted our audlt In aixordance wlth Intemational Standards on Audlting (UK) (ISAS (UK)) and applicable law. Our responsibilit18s under those standards are further descrlb8d in the AudiÉorfs SpOnsIbIlItIeS lor thg audit of the financial s18É8ments section of our report. We are ind8pendent of the charity in accordance with the ethica5 requirements that are relevant to our audit of the financial stalements in the UK, includlng the FRC'S Ethical Standard, and w8 have fulfilled our otfrEr ethical responsibilitie8 in accordance wlth these requirements. We believe that the audit evidence we have obtained is suffici8nt and approprlate to provlde a basis for our opinion. Concluslons relating to going concern In auditing th& finandal statements, we have concluded that the trustees, use of the going conrn basis of accountlng in the preparalion of th8 financial statements Is approprfat8. Based on the work we have performed, we have not Identified any mat8rial uncertainties relatlng to events or conditions that, individually or collectlvely, may cast slgnificant doubt on the charlty's ability to continue as a going concern for 8 period of at least e1ve months from when the financlal statemenls ar8 authorised for issue. Our responsibiliti8s and the responsibillties of the trustee8 With respect to going concem are described in the relevant sections of this report. Other Information The other informatlon comprlses the information induded in the annual report oth@r Ihan th8 financl81 statements and our audiiorfs report th8reon. Th8 trustees are responslble for the other inforniation contained within the annual report. Our opinion on the financial statements does not cover the other Informalion and we do not express any form of assurance concluslon thereon. Our responsibilty is to read the other infomiation and, in dolng so, cOnser whether the other information is malerlalty inconsistent with th6 financlal statemenls or our knowledg8 obtained In the course of the audlt, or othewlse appears to be materially misslated, If w6 Identify such malerial Inconslstencies or apparent material misstatements, we are required lo detemilne whelh8r 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 lo report In thls rega1. Mattets on whlch we are required to report by exceptlon We have nothing to report In respect of the following matt8rs in relatlon to whlch the Charities (Accounts and Reports) Regulations 2Q08 require us to report to you if, In our oplnlon: the Infomiation given in the financlal statements Is inconsistenl in any materlal respect wilh th& trustees, report,. or sufficient accounting records have not been k8pt" or the financlal statemenls are not in agreement with the accounting records; or we have not receiv&J all the Information and explanation8 W8 require for our audlt.
BRIDGE SCHOOL MALVERN LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD Responslbllltles of tru8te88 As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of th8 charily for the purpose of company law, are responsibl8 for the preparation of the financial stat8ments and for being satlsfied that they give a true and fair view, and for such Internal control as the truslees determlne16 necessary to enable the preparation of financ1 stat&ment8 thal are free from materi81 misstatement, wh&ther due to fraud or error. In preparing the financial statements, the trustees are responsibl8 for assesslng the charity's ablllty to Gontlnue as a going concorn, dlscloslng, as applicable, matters related to golng concern and using the going concern basis of accounting unle88 the trustees elther intend to liquidat8 the charitable company or to cease operations, or have no r8ali8tic alternaVe but to do so, Auditorfs responslbllltles forthe audlt of the financlal statements We have been appointed as auditor under sectlon 144 of the Chariti8s Act 2011 and report In accordance with th8 Act and relevant regulations made or having effect th8reunder. Our objectives are to obtain reasonable assurance aboul whather the financial statements as a whola are free from material misstatement, whether due to fraud or error, and to issue an audltor's rgport that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee thal an audlt conducted In accordance with ISAS (UK) will always detect a materlal rnisstatement when it exlsts. Misstatements can aris8 from fraud or 8rror and are consldered material rf, individually or in the aggregate, they could reasonably be expected to Influence the economic d8cisions of users taken on the basls of thes8 financial stat6rnents. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Ext8nt to whlch the audlt was consldered capablo of det8Cting irregularltles, Includlng fraud an understanding of the risk assessment pr(xes8 (Including the assessm8nt of the risk of fraud) adopted by the Trustee Board18 obtained and thelr atlitude to rfsk ascertained an ass88sment of the sUsPtibl1Ify to material mi8-8tatement of the financlal statements 8s a result of m8nagement over-ride.or fraud is made it is ensured that the engag8ment team have, collectlvely, the approprfate compet8nce. capablllties and skills to be Involved in the assignment. are fully briefed and understand the risks speciflc to the chartty Audit response to rlsks Identifled - processes to test the outcomes of our assessment includ8, a review of Trustee Board mlnutes, analytical review, the relevanc6 and accuracy of slgnlficanl acGounting estimales, substantive testing of significant transactions, work to identlfy unusual or unexpeGt8d accounting entries Including the testing of journal entries, Information dlsclosed in the financial statements is traced to supportlng documenlation. In all instances It Is acknowledged that materi81 mis- statements that arlse from fraud may involve dgliberat6 concealment Dr Colluslon and are, therefore, by their very nature harder to detect than those arlsing from error. an undèrstanding of the legal and regulatory framwork as applicable to the Charily is obtained together with knowledge of the procedures put in place by the charity in order to comply with th8 same. it 18 estsbllshed if there have b&&n any instance8 of non-cornpllance with applicable laws and regulations, where there 8re such braathes, a full understanding, Including gaiharing of relevant documentatlon appertalning to the 6vent is obtained and assessed. It should be noted that Audltlng slandards Ilmit the audit procedures requlred to Identify non-compllance with laws and regulatlons to enquiry of the truslees and olher management and the inspection of regulatory and legal correspondence, rf any. A further descrlption of our responslbilities is avallable on the FinanGial Reporting Council's webslte at: https.'Il www.frc.org.uklauditorsre8ponslblllties. This descrfption forms part of our audttorfs 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 charitls trustees, as a body, In accordance with part 4 of th8 Charltles (Accounts and Reports) Regulations 2008. Our audlt work has b88n undertaken 80 that we mlght state to the charity's trustees those matters we are required to state to them in an 8udltorfs report and for no other purpose. To tha fullest extent P8rmitted by law, we do nol accept or assum& rasponsibilily to anyone other than the charlly and the charlly's trustees as a body, for our audit work. for this report, or for the opinions we have fomiod. Sarah Morley BA (Honsl ACA Isenlor Statutory Audlto for and on behalf of Kgndall Wadley LLP 12 May 2025 Chart8r8d Accountants statutory Audltor Granta Lodge 71 Graham Road Malvem Worcestershlre WR14 2JS Kendall Wadley LLP Is ellgible for appointm8nt as auditor of the charity by vlrtue of its ellgibillty for appointment as audllor of a company under section 1212 of the CompaniesAct 20C6.
BRIDGE SCHOOL MALVERN LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Notss com8 and endovmients from: Donalions and legacies Charitable activities Inveslments Other income 300 2,047,842 517 e3,350 300 46,426 2,094,268 517 63,350 601 1,918,168 203 46,935 601 1,938,215 203 46,935 2Q,047 Total income 2,112,009 46,426 2,158,435 1,965.gJ7 20,047 1,985,954 Ex @nditure on: Charitable actlvltles 2,098,242 46,782 2,145,024 1,795,192 20,047 1,815,239 Oth8r 11 1,953 1,953 Total expendllure 2,100,195 46,782 2.146,977 1,795,192 20.047 1,815,239 Net Incomel{expendlture) for the yearl Net movement in funds 11,814 (356) 11,458 170,715 170,715 Fund balances at 1 Sept8mber 2023 2,231 356 772,587 601,516 358 601,872 Fund balances at 31 August 2024 784,045 784,045 772,231 356 772,587 The Statement of financlal activities includes all galns and losses recognised in the year. The statement of financial actlvities includ8s all gains and Ios5e5 recognlsed in the year. AJI income and expenditure derive from continuing activities. The statement of flnancial activities also complies wth the requirements for an Income and expendlture account under the Companies Act 2006.
BRIDGE SCHOOL MALVERN LTD BALANCE SHEET AS AT31 AUGUST 2024 2024 2023 Notss Flxed assets Tangible assets 13 429,790 327,134 Current agsats Debtors Cash at bank and in hand 14 28,485 403.150 88,133 431,914 431,635 520,047 Credltors: amounts falllng due wlthln one year 15 (77,380) (74,594) Net currenl assets 354,255 445,453 Total assets less current liabllltles 784,045 772,587 Income funds Restrided funds unstrIcted funds 17 356 772,231 784,045 784,045 r12,587 The company is entltled to the exemption from the audlt requirement contain8d in section 477 of the Companies Act 2006, for the year ended 31 August 2024. although an audit has been carried out under section 144 of the Charities Act2011. The directors acknowledg8 their resF)Jnsibilitie8 for complying with the requlrements of Ihe Companles Act 200S with resp to accounting records and the preparation of financial statements. The members have not requir8d the company to obtain an audil of its financlal statements under th8 requirements of the Companies Act 2006. for the year in questlon In accordan with section 476. These financial statemenls have been prepared in accordance wlth the provisions appllcable to companles sublecl to the small companies reglme. The flnancial statements were approved by the Trustees on 12 May 2025 Sarah Slater {Chairl Trustee Company reglstration number 06362939
BRIDGE SCHOOL MALVERN LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Nolos Cash flows from operating actiYitle8 Cash generaled from operations 21 99,473 186.883 Investlng actfvluos Purchase of tsngible fixed assets Proceeds from disposal of tangible fixed assets Inv8Stment income recelved 1133,854) (51,066) 6,100 517 1,200 203 Net cash used In Investing actlvltl88 (128,237) (49,663) N6t cash used In flnanclng actlvltles Net (decrease)lincreag8 in cash and cash equlval8nts (28,764) 137,220 Cash and cash equival6nts at beglnnlng of year 431,914 294,694 Cash and cash equlval8nts at end of yaar 403,150 431,914
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng polloles Charity information Bridge School Malvern Lld18 a private company Ilmllad by guaranlee incorporated in England 8ndWales. The registered offic8 is Unlt 2, Hanley Workshops, Hanley Swan, Worcester, Worcestershire, ODX. 1.1 Accounllng convèntlon The financial statements have been prepared In accordance wlth the charity's goveming document, the Companies Act 2006 and 'A¢counting and Reporting by Charitles.. 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 chariiy Is a Public Benefit Entity as deflned by FRS 102. Tha financial statements are prepared In sterfing, whlch is the functional currency of the charlty. Monetary amounts in these flnancial statgm8nts ara rounded to the nearest £, The financial statemenls have been prepared und8r the histotlcal cost convention, modified to include the revaluation of freehold Sand to market value. Th8 principal accountlng policies adopted are s8t out below. 1.2 Going concern At the tlme of approving the financial 8tatements, the trustees have a reasonable expectation thal the charily has adequate resources to continue In operational existence for the foreseeable future, Thus the truslees continue to adopt the going concern basis of accounting in preparlng Ihe finan¢lal statsm8nts. 1.3 Charltable funds Unrestricted funds are avallable for use at the discretion of the trustees In furtherance of their charitabl8 objectives. Restricted funds are subject to specific ccnditions by donors Dr grantor8 as to how they may. be used. The purpos&s and uses of the restricted funds are set out in the note8 to Ihe flnancial statements. 1.4 Income Income is r8CD3nised en the charlty Is legally entitled to it after any performance cenditions have been met. the amounts can be measured rellably, and it is probable that income will be recelved. Cash donations are recogni8ed on r8C8iPt. other donations are recognis@d once th& charity has been notifled of the donation, unless perfomiance condltlons require deferral of the amount. Income tax recov8rable In relatlon to donations received under Gift Aid or deeds of covenant is recognised at the time of the donatlon. 1.6 Expendlture Expenditure Is recognlsed once there is a legal or constructive obllgation to transfer economic benefit to third party, it is probabl& that a transfer of economic benefits will be required In sett18ment, and the amount of the obligation can be measured reliaNy, Expenditure Is das8ffied by activity. The costs of each activity are made up of the total of direct costs and shared costs, includlng support costs Involved in undertaking each adivlty. Direct costs attributabl8 to a single activity are allocated directty to that activity. Shared cosls which contr11te to more Ihan one activlty and support costs which ar8 not attributable to a single activity are apportioned between those a¢tlvitles on a basis consistent wlth the use of resources. Central Btaff costs are allocated on the basis of time spent. and depreciatlon charges ar8 allocated on the portlon of the asset's use. 10-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policies (Contlnued) 1.6 Tanglble flxed assets Tangible fixed assets are Inltially measured at cost and subsequently measured al cost or valuation, net of depre¢lation and any Impaimi@nt IoBses. Deprecialion is recognlsed 80 as to write off Ihe cost or valuallon of assets less their resldual values Dver their useful lives on the followlng bases: Freehold land Leasehold land and buildlngs PEanl and equlpment Computer8 Not depréciated 100/0 Straight Ilne 50A . 20% reduclng balanca 25% reducing balance The galn or108s arlsing on the dlsposal of an a88et is d8termined as the difference between the sale proceeds and the carrying value of the asset, and 18 recognised In the statement of financial activltles. 1.7 Impairment of fixed assets At each reporting end dat8, th8 charity reviews the carrying amounts of its tangible assets trj determine whether there 18 any indicatlon that those assets have suff8r@d an impairment loss. If any such indication exisl8, th& 0Verable amount of the asset is 8Stimaled in order to determlne the exl8nt of th8 impairmenl loss (if any}. 1.8 Cash and cash equivalents Cash and cash equivalents include Gash In haThJ and deposlts held at call wilh banks. 1.9 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Flnancial Instruments Issues, of FRS 102 lo all of Its financial instruments. Flnanclal instruments are Cognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilltie8 are offset. with the net amounls presented in the financlal statemenls, when there is a legally enforceable rlght to set off the recognised amounts and there Is an Intentlc>n to settle on a net basls or to re81ise the asset and settle the liabilily simultaneously. Bas1¢ financi81 assets Baslc finanal assets, which Include debtors and cash and bank balances, are initlally measured at transadlon prlce including transaclion costs and are subsequently carried at amortised cost uslng the effectlve Interest m8thod. Finan(aal assets classified as receivable within one year are not amortised. Basic flnanclal liabilities Basic financial Ilabilities, Including credltors are initlally recognised at transactlon price. Financial liabilities classified as payable wlthin one year are not amortised. Trade creditors are obllgatlons to pay for goods or 8eNces that have been acqulred in th& 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. Trad8 creditors are recognised initially at transaction prtce and subsequently measured at amortised cost Uslng the effective interest method. Derecognltion of flnancial liabilitios Financial liabllities are derecognised en the Gharitl8 contractual obllgations expire or are discharged or cancelled. 11
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A¢countlng pollcles (Continued) 1.10 Employee beneflts The cost of any unused holiday entitl8m8nt is recognis8d in the period in [ch the employee's servlces are received. Termination benefits ar8 recognised immediately as an expense when the charlty Is demonstrably committed to temiinate the employment of an employee or to provide termination b8nefit8. 1.11 Rotlrement beneflt8 Payments to defined conlribution ret1ment benefit schemes are charged as an &xpense as they fall due. Crltical accounting estlmates and judgements In the appllcatlon of the charitws accountiro polici8S, th8 ttU8tees are required to make judgements, estlmates and a&sumptions about the carrying amount of assets and liabilitles that are nol readlly apparent from other Sour5. The estimates and assoclated assumptlons are based on hisloriGal exp8rience and other factors that are considered to be r8levanl. Actual results may differ from thes& estimates. The estlmates and underlying assumptlons are r8viewed on an ongoing basis. Revisions to accountlng estimates are recognised in th8 period in which the estlmate Is revised where the revlsion affects only that perlod, or in the period of the revlslon and future periods where the revlslon aff8cts both curr8nl and fulure perlods. It Is to be noted as a signlficant estimate, th& valuation of the freahold land held with the carrylng amount of £72,000. See note 13. Income from donatlons and legacles Unrestricted Unrestricted funds funds 2024 2023 Grants 300 601 Income from charltabla actSvltles Unrestrlctsd Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrtctod funds funds 2023 2023 Total 2024 2023 Sorvices provided under contract 2,047,842 46.426 2.094,288 1,918,168 20,047 1,938,215 12
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from Investments Unrestrlcted Unrestrlcted funds fund8 2024 2023 Interest receivable 517 203 other Incoma Unrestrlcted Unrestrlcted funds funds 2024 2023 other income 63,350 46,935 13-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charltabl8 activltles Charitable Charltable Expendlture ExpendSture 2024 2023 staff costs Depreciation and Impairment staff training Teaching expenses Consumabl88 Rent, rates and utilities 1,675,810 1,483,182 24,145 22,280 9,949 10,547 129,888 83,958 1,590 473 77,g54 41,312 F- il BuIldInsIte maintenance and development Examlnatlon fees V8hicl88 expenseslstaff mlleage Animal care Computsr costs Audit and accountancy f888 Legal and professlonal charges Sundry expenses Bank charges Insurance Pupll Premium costs 89,853 5,863 7,300 8,294 21,998 20,031 14.889 5,56B 1,263 19,150 31,481 80.470 4.973 7,386 10,403 18,300 19,954 9,340 4,509 1,304 16,856 19,992 2,145,024 1,815.239 Analysi8 by fund Unr68tricted funds Restricted funds 2,098,242 1,795,192 46,782 20,047 2.145,024 1,815,239 Audltovs remuneratlon Fees payable to the charfty's audltor for the audlt of the charlty's annual accounts: 2024 2023 Audlt of the charity's annual accounts 12,600 12,000 Trustees None of the trustees (or any persons connected with them) r8ceived any remuneration or benefits from th& ¢harlty during th8 year. 14-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Employoes The average monthly number of employees during the y&ar was,. 2024 N.umber 2023 Numbar 50 48 Employment costs 2024 2023 Wages and salarles S[al security costs Other pension costs 1,470,644 138,376 68.790 1,290.455 113,284 59,443 1,675,810 1,463,182 Included above is £15,00012023- £nil) in re8P8Ct oftemilnation b8nefits. The number of employees whose annual remuneratlon was more than £80,000 Is as follows.. 2024 Number 2023 Numbor £60,000- £70,(KiO Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 175,265 179.789 11 Other expendlture Unrestrlctod Unrastrlcted funds funds 2024 2023 Net108s on dispos81 of tangible fixed assels 1,953 12 Taxatlon The charity Is exempt from taxation on its actlvltles because all Its income Is applied for charitable purposes. 15-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 13 Tanglble flxed ass8t8 Fr?ehold land Leasehold land buildi5 Plant and ulpmont Computers Cost or valuation At 1 September 2023 Additlons Disposals 72,000 189,664 71,541 177,633 35,369 (7,600} 51,150 26.944 490,447 133,854 (7,800) At 31 August 2024 72,000 261,2D5 205,402 78.094 616,701 Depreciation and Impairment At 1 September 2023 Depreciation charged In the year Eliminated In respect of dlsposals 33,998 7,603 103,119 6,582 {54n 28,198 9,960 163,313 24,145 (547) At 31 August 2024 41,599 109,154 36,158 186,911 Carrylng amount At 31 August 2024 72,000 219,606 96,248 41,936 429,790 At 31 August 2023 72.000 155,6S8 74.514 24,952 327,134 2024 2023 Fre8hold 72,000 72,000 Freehold land with a carrylng amount of £72.000 was revalued at October 2021 by Davld E J Prosser,.FRICS, indeFKndent valuers not connected with the charity on Ihe basis of market value. The valuation confomis to Internatlonal Valuation Standards and was based on r8cent market tran8actions on arm's lenglh terms for Similar properties. The trustees believe the valuation 18 stiii true and fair In the current financlal year. 14 D&btor8 2024 2023 Amounts falllng due wlthln one year: Trade debtors Prepayments and accrued Income 80 28,405 63,630 24,503 28,485 88,133 16-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Credltor8: amounts falllng due wlthln one year 2024 2023 Other taxatlon and social security Trade edItorS Oth8r creditors Accruals and deferred income 32,954 9,881 8.894 25,651 35,357 21,407 6.701 11,129 77,380 74,594 16 Retlremgnt b8n8flt schemes 2024 2023 Deflned ¢ontrlbutlon schemes Charg8 to proflt or loss In respect of defined contrlbution schemes 66,790 59,443 The charity operates a deflned contribution penslon scheme for all qualifying employees. The assets of the schemp are held separately from those of the charty in an independently admlnlstered fund. 17 Restricted funds The restsicted fund8 of the charity comprlse the unexpended balances of donations and grant8 held on trust Subj to specific conditions by donors as to how they may be us8d. At1 Septsmber 2023 Incomlng resources Resourc88 At 31 August expended 2024 Pupil Premlum 356 46,426 {46,782) Prevlous year: At1 September 2022 Incomlng Resources At 31 August resources expended 2023 Pupil Premlum 356 20,047 (20,04n 356 17-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 18 Anatysls of net assets between funds Unrostrlcted funds 2024 Restrlcted funds 2024. Total 2024 At 31 August 2024: Tanglble assets Current assetsl(liabilltl8s) 429,790 354,255 429,790 354,255 784,045 784,045 Unrestrlcted funds 2023 Restrlcted fund8 2023 Total 2023 At 31 August 2023: Tangible assets Current as8etsl(liabiliti881 327,134 445,097 327,134 445,453 356 772,231 356 772,587 19 Operatlng lease commitments Lessee Al the pOrtIng end date the charlty had outstanding commitments for future mlnimum18ase payments und8r nolFcanIIable operatlng leases, whlch fall du8 as follows.. 2024 2023 Withln on8 year Between two and five years 43,292 33,125 38,625 11,250 76,417 49,875 Less The op8rating leases represent leases of the Former Print Bulldlng, Units 2 and 3 Hanley Workshop and Unit B at Sixways from thlrd partles, The leases are negotialed over terms of 1-5 years with phased increases over the leaso term. All lea8e8 Includ8 a provision for five-yearly upward rent revlews according ID prevalllng market condltlons. 18-
BRIDGE SCHOOL MALVERN LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Related party transactlons Durlng Ihe year Income of £54,172 (2023.. £35,997) was received from Bridge Th@ Gap Malvern Limited In relation to the use of Bridge School Malvern Ltd's staff and setViC88. Bridge The Gap Malvern Llmlted Is a company in which Neil HDrnby, CEO of Bridge School Malvem Ltd, Is a dlrector and shareholder. During the year purchases of £38,980 (2023,, £NIL} were made from Brldge The Gap Malvem Limited for use of their 88rvic88. At the year end £NIL12023., £NIL> Is Included wlthln debtors recelvable withln one year, During the year purcha8es of £840 (2023.. £NIL) were made from St Andrews Church for the hire of meeting rooms. St Andrews Church Is a charity in which Hel&n Atlr8e, Dlr8ctor and Trustee of Bridge Schwl Malvern Lld, is an employee. At the year end £320 (2023: £NIL) 18 owed to St Andrews ChUh. and is included within creditors due within one year, 21 Cash generated from operations 2024 2023 Sutplus for the y8ar 11,458 170,715 Adjustments for,. Inv&stment incA)me recogni8ed in statement of financial activitie8 Loss on di8PO8al of tangible fixed assets Depreciation and Impalment of tangible fixed assets {517) 1,953 24,145 (203) 22,280 Mov6m8nts in working capital: Decreasel(inuease) in debtors Increase in creditors 59,648 2.786 (21,327) 15,418 Cash generatsd from operations 99,473 186,883 22 Analysls of chang88 In net funds The charfty had no matèrlal debt durfng the year. 19-
BRIDGE SCHOOL MALVERN LTD UNIT2. HANLEY WORKSHOPS HANLEY SWAN WORCESTER WORCESTERSHIRE WR8 ODX COMPANY NUMBER: 06362939 cHARy NUMBER: 1122536 17 March 2025 Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern wOrstershIre WR14 2JS De Directors, The following representations are made on the basis of enquiiies of management and staff with relevant knoedge and experien such as we consider necessary in connection with your audit of the charitable company's financial statetnents for the year ended 31 August 2024. These erNuiiies have included inspectson of supporting documentation where appropriate and a sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and IlIef. General l. We have fulfilled our responsibilities as trustees (also directors for the purposes of Companies Act) as set out in the terms of your engagement letter dated 8 April 2024, under the Companies Act 2006 and Charities Act 2011 for preparing financiaj statements in accotdance with applicable law and Unrted Kingdom Accountsng Standards (Unrted Kingdom Generajly Accepted Accounting Practice), for being satisfied that they give a tNe and fair view and for making accurate representations to you. 2. All the transactions undertaken by the ChItable company have been properly reflected and recorded in the accounting records. 3. All the accounting records have been made available to you for the purpose of your audit, We have Fyovided you with unrestiicted access to all appropriate persons within the charitable company, and with all other records and related infomiation requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission, 4. The financial statements are fr of rnaterial misstatements, including omissions. 5. We are not aware of any uncorrected misstatements , and trRlieve that should any exist they would be imnHteriaJ both individually and in total. Internal control and fraud 6, We acknowledge our responsibilty for the design, implementation and maintenance of internal control to prevent and detect fraud and effor, and we believe that we have apprcpriately fUilled these responsibilities. We have disclosed to you the results of our risk assessmentthat the financial statements may be misstated as a result of fraud. 7. We have disclosed to you all instances of known or suspected fraud affecting the entity involving managemen( employees who have a significant role in internal control or others where fraud could have a material effect on the financial statements. 8. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity's financial statements Communicat by current or former employees, analysts, regulators or others. Assets and liabilities 9. The charitable company has satisfactory title to all assets and there are no liens or encumbrances on the charitable company's assets. 10. All actuaj liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 11. We have no plans or intentions that may materially alter the carrying valLie and, where relevant, the fair valLie measurements or classification of assets and liabililies reflected in the financial statements.
Accounting estimates 12. The methods, data and significant assumptions used ty us in making accounting estimates, and their related disclosures, are appropriate to achieve recognitson, measurement and disclosure that is reasonable in the context of the applicable financial reFX)rting framework. Loans and arrangements 13. The charitable company has not granted any advances or credits to, or made guarantees on behalf of, directors. Legal claims 14. We have disclosed to you all claims in connection with litigation that have tRen, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. Laws and regulations 15. We have disclosed to you all thown InStanS of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial Statements. Related parties 16. Related paty relationships and transactions have been appropriately accounted tr and disclosed in the financial statements. We have disclosed to you all relevant information cc>nceming such relatiorh1pS and transactions and e not aware of any other matters which require disclosure in order to comply with legislative and accountiro standards requirements. Subsequent events 17. All events subsequent tt) the date of the financial statements which require adjustment or disclosure have been property accounted for and disclosed. Going concern 18. We believe that the charitable company's financial statements should be prepared on a going ¢XJncem basis on the grounds that current a1 future sources of fundiThJ or Sup1 will be more than adequate for the charitable company's rEeds. We also Confirm our plans for future action(s) iequiied to enable the charitable company to contsnue as a going conrn are feasible. We have consideied a period of twelve months from the date of approval of the financial statements, We believe that no further disclosu8 rElating to the charitable company's ability to contsnue as a going concem need to be made in the financial statements, Grants and donatlons 19. All grants, donations arKI other income, the reIpt of which is subject to s rK)tified to you, There have been no breaches of terms or conditK)ns in the app disck)sed in the notes to the financial statements. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confimi that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit retK)rt of which you unaware. Each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any elevant audit infomiation and to est&Sish that you are aware of that information. Yours faithfully rfic temis or conditions, have been ication of such income. Details are as Signed on behalf of the b0d of tNstees (directors)