ANNUAL RETURN and ACCOUNTS FOR THE YEAR ENDED 31[st] JULY 2022
BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE)
CHARITY REGISTRATION No: 1125780 COMPANY REGISTRATION No: 6643686
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
| Pages 3 to 6 | Report of the Directors(Trustees) |
|---|---|
| Page7 | Statement of Financial Activities |
| Page8 | Balance Sheet |
| Pages 9 to 13 | Notes tothe Financial Statements |
| Page 14 | IndependentExaminersReport tothe Trustees |
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS (TRUSTEES) FOR THE YEAR ENDED TO 31st July 2022
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1125780
COMPANY REGISTRATION NO .
START OF FINANCIAL PERIOD END OF FINANCIAL PERIOD
6643686 1[st] August 2021 31st July 2022
DIRECTORS (TRUSTEES) AT 31st July 2022
J Carruthers M Lloyd I Summers L McNaught S Carruthers J Friar J Houghton
COMPANY SECRETARY
S Carruthers
REGISTERED ADDRESS
Bridge Priory Trust Bridge Chapel Centre Heath Road LIVERPOOL L194XR
DATE OF INCORPORATION
11[th] July 2008
GOVERNING DOCUMENT
Memorandum and Articles of Association incorporated on 11[th] July 2008
BANKERS
Barclays Bank PLC Liverpool South 2 1 Churchill Place LONDON E14SHP
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS (TRUSTEES) FOR THE YEAR ENDED 31st July 2022
Objectives:
To relieve and support people with learning disabilities in Merseyside, including but not by way of limitation, through the provision of quality housing so as to achieve independent living with appropriate support.
Structure, Governance and Management:
As the Directors (Trustees) have different areas of expertise, the main responsibilities have been categorised as follows:
| Name | Role | Expertise |
|---|---|---|
| L McNaught | Chair of Board | Local Authority service management |
| I Summers | Treasurer | Bookkeeping/Accounts |
| JCarruthers | Administration | Commercial Manager/ Quantity Surveyor |
| M Lloyd | Fundraising | Teacher (Retired) |
| J Friar | Fundraising | Learning Disabilities Services |
| J Houghton | Maintenance | Housekeeping |
| S Carruthers | Secretary | Secretarial experience |
Achievements and performance
The Directors (Trustees) have enabled adult ladies with learning disabilities, to be housed with supported living at 20 Vyner Road South, known as Ivy Cottage, within the area where they have lived most of their lives.
Financial review
The principal sources of funds are gifts from various donors to the charity, and income from the tenants' rental and service charge payments.
The investment policy is to have security with interest and to that end funds in excess of working capital have been transferred to a savings account with Barclays Bank.
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS (TRUSTEES) FOR THE YEAR ENDED 31st July 2022
Trustees Report 1[st] August 2021 – 31st July 2022
Earlier in 2021 the Trustees met to decide the way forward as there were considerable funds in the bank which were not being used and decisions needed to be made in order to further the aims and objectives of the Trust. This was a tipping point for the Trust and it was decided to aim for the purchase of a second property. We are therefore delighted to announce that during this year we have found another property to purchase and the sale is now well on into the process of completion.
The property is a semi-detached bungalow in the area and it has great potential although a lot of renovation will be necessary to house the two potential inhabitants who have mobility issues. We are praising God that we now have sufficient funds to purchase the property. This is the result of several large donations being made, a Just Giving page opened, and a fundraising coffee morning, dinner and auction. These events raised large sums of money but more fundraising will be needed to allow the necessary renovation work needed to make the bungalow suitable for two young people.
During the year we saw another tenant arrive in Ivy Cottage which we are delighted about and apart from general maintenance there is nothing to report.
We are very grateful to all our supporters that we have reached this milestone in our history where we are to be recipients of a further property in this area.
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS (TRUSTEES) FOR THE YEAR ENDED 31st July 2022
Statement of Directors (Trustees) responsibilities:
Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit or loss of the company during that period. In preparing those financial statements the directors are required to:
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(i) select suitable accounting policies and then apply them consistently,
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(ii) make judgements and estimates that are reasonable and prudent, (iii) prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure the financial statements comply with the Companies Act 2006 and Act 2011.
I approve the attached statement of financial activities and balance sheets for the period ended 31st July 2022, and confirm that I have made available all information necessary for its preparation.
Date: 21[st] September 2022
Signature I Summers, Director (Trustee)
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED TO 31st July 2022
Incorporating income and expenditure account
| Notes | Unrestricted Funds |
Designated Funds |
Restricted Funds |
Total 2020/21 |
Total 2021/22 |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| INCOMING RESOURCES | ||||||
| Incoming Resources from Generated Funds |
||||||
| Voluntary Income | 3a | 40171 | 145121 | 6392 | 185292 | |
| Investment Income | 3b | 9 | 45 | 9 | ||
| Incoming Resources from Charitable Activities |
3c | 11784 | 5608 | 11784 | ||
| TOTAL INCOMING RESOURCES |
51964 | 145121 | 12045 | 197085 | ||
| RESOURCES EXPENDED | ||||||
| Costs of Generating Funds | ||||||
| Charitable Activities | 4a | 3022 | 4023 | 3022 | ||
| Finance Costs | 4b | 90 | 100 | 90 | ||
| TOTAL RESOURCES EXPENDED |
3112 | 4123 | 3112 | |||
| NET INCOMING / OUTGOING RESOURCES |
48852 | 145121 | 7922 | 193973 | ||
| Total Funds Brought Forward | 357299 | 349377 | 357299 | |||
| TOTAL FUNDS CARRIED FORWARD |
406151 | 145121 | 357299 | 551272 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 11 form part of these financial statements.
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET FOR THE YEAR ENDED 31st July 2022
| Note | Unrestricted Funds |
Restricted Funds |
31st July 2021 Total |
31st July 2022 Total |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible assets | 2 | 245752 | 245842 | 245752 | |
| Current Assets | |||||
| Tax Gift Aid | 276 | 1157 | 276 | ||
| Cashat bankand in hand |
160123 | 145121 | 110300 | 305244 | |
| Total Current Assets |
406151 | 145121 | 357299 | 551272 | |
| Creditors: amountsfallingdue afteroneyear |
0 | 0 | |||
| NET CURRENT ASSETS |
406151 | 145121 | 357299 | 551272 | |
| Funds of the Charity |
|||||
| GeneralFunds | 406151 | 145121 | 357299 | 551272 | |
| Designated Funds | |||||
| Restricted Funds | |||||
| Total Funds | 406151 | 145121 | 357299 | 551272 |
For the year ending 31st July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and Act 2011 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
These accounts have been prepared in accordance with provisions applicable to companies subject to the small companies’ regime.
Approved by the Directors on 3[rd] October 2022 and
Signed on their behalf by.
I Summers, Director (Trustee)
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED TO 31st July 2022
1. ACCOUNTING POLICIES Incoming Resources
Recognition of Incoming Resources
These are included In the Statement of Financial Activities (SOFA) when
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the charity becomes entitled to the resources;
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the Directors (Trustees) are virtually certain they will receive the resources; and
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• the monetary value can be measured with sufficient reliability.
Incoming Resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only Included in the SOFA when the charity has unconditional entitlement to the resources.
Tax reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the Directors (Trustees)' Annual Report.
Investment Income
This is included in the accounts when receivable.
Investment gains and losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED TO 31st July 2022
Expenditure and liabilities
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the Directors (Trustees) meetings, and costs of any legal advice to Directors (Trustees) on governance or constitutional matters.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Assets
Tangible fixed assets for use by the charity:
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance basis over their estimated useful lives. The rates applied per annum are as follows:
Fixtures and Fittings 10% Motor Vehicles 25%
Basis of preparation:
The financial statements have been prepared on the historical cost basis of accounting in accordance with the Charities Act 1993 and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) issued in March 2005.
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED TO 31st July 2022
2. TANGIBLE FIXED ASSETS
| Building | Building Improvements |
Fixtures and Fittings |
Total | |
|---|---|---|---|---|
| Cost | 207500 | 37441 | 1717 | 246658 |
| Additions | ||||
| Depreciation b/f | 816 | 816 | ||
| Depreciation | 90 | 90 | ||
| Net book value | 207500 | 37441 | 811 | 245752 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st July 2022: None
3. INCOMING RESOURCES
| Unrestricted Funds |
Designated Funds |
Restricted Funds |
Total 2020/21 |
Total 2021/22 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Voluntary Income | |||||
| Other Gifts | 6689 | 145121 | 5235 | 151810 | |
| Gift Aid Tax Recovered | 33482 | 1157 | 33482 | ||
| 40171 | 145121 | 6392 | 185292 | ||
| Investment Income | |||||
| Bank Interest | 9 | 45 | 9 | ||
| Incoming Resources from charitable activities |
|||||
| Rent and Service Charge | 11784 | 5608 | 11784 |
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BRIDGE PRIORY TRUST
(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED TO 31st July 2022
4. RESOURCES EXPENDED
| Unrestricted Funds |
Designated Funds |
Restricted Funds |
Total 2020/21 |
Total 2021/22 |
|
|---|---|---|---|---|---|
| Charitable Activities | |||||
| Rent and Rates | |||||
| Repairs and Renewals | 1398 | 2724 | 1398 | ||
| Garden | 220 | 220 | |||
| Refunds | |||||
| Building Insurance | 336 | 367 | 336 | ||
| Heat and Light | |||||
| Post, Printing and Stationery | |||||
| Telephone | |||||
| Legal and Professional | 895 | 895 | |||
| Sundry | 173 | 932 | 173 | ||
| 3022 | 4023 | 3022 | |||
| Finance Costs | |||||
| Independent Web Site Charge | |||||
| Depreciation | 90 | 100 | 90 | ||
| Bank Charges | |||||
| 90 | 100 | 90 |
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED TO 31st July 2022
5. RESTRICTED FUNDS
We are looking to buy a new property this year so we have had a couple of gift days where people donated specifically for this. This will be used when the purchase is completed.
6. STAFF COSTS AND NUMBERS
The Company has no paid employees at present.
7. DIRECTORS (TRUSTEES) AND OTHER RELATED PARTIES
No payments were made to Directors (Trustees) or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
8. RISK ASSESSMENT
The Directors (Trustees) actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors (Trustees) have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
9. RESERVES POLICY
The Directors (Trustees) have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors (Trustees) aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors (Trustees) will endeavour not to set aside funds unnecessarily.
10. PUBLIC BENEFIT
The charity acknowledges its requirements to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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BRIDGE PRIORY TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED TO 31st July 2022
Report to the Directors (Trustees) / members of Bridge Priory Trust on the accounts for the year to 31st July 2022 set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006 and 2011) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for an independent examination, it is my responsibility to:
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examine the accounts (under section 43 of the Act, as amended),
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follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act, as amended), and
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state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In the course of my examination, no matter has come to my attention which;
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Gives me reasonable cause to believe that, in any material respect, the trustees’ requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006 and 2011; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and 2011 and with the methods and principles of the Statement of recommended Practice: Accounting and Reporting by Charities. have not been met; or
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In my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alison Atkinson AAT qualified 8 Churchfield Road Gateacre Liverpool L25 3SF
Date 08.9.2022
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