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2021-03-31-accounts

Company registration number: 7472282 Charity registration number: 1140509

Bridge Chapel

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021

Corbett & Co Accountants Ltd 555 Smithdown Road Liverpool Merseyside L15 5AF

Bridge Chapel

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 16

Bridge Chapel

Reference and Administrative Details

Trustees Professor J Jarvis
Mr I MacMichael
Mr Christopher Holloway
Mr Paul Forrest
Principal Office Bridge Chapel Centre
Heath Road
Liverpool
L19 4XR
Registered Office Bridge Chapel Centre
Heath Road
Liverpool
L19 4XR
Company Registration Number 7472282
Charity Registration Number 1140509
Bankers CAF Bank Ltd
Independent Examiner Corbett & Co Accountants Ltd
555 Smithdown Road
Liverpool
Merseyside
L15 5AF

Page 1

Bridge Chapel

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.

The church leadership at BRIDGE CHAPEL present the Annual Report together with the financial statements.

BRIDGE CHAPEL is a Registered Charity – No 1140509 and a Company – No 7472282

and is affiliated to the FIEC (Fellowship of Independent Evangelical Churches).

GOVERNING DOCUMENT

The church is established and operates under a “Memorandum and Articles of Association.”

OBJECTS

The charity’s objects are for the public benefit and are restricted to the following:-

The principal activities of the Church are to:-

Through:-

TRUSTEES and other CHURCH OFFICERS

The Trustees of the Charity are either Elders, Leaders or Members of Bridge Chapel.

The legal owners of the Bridge Chapel Centre premises are the Trustees.

The responsibility for managing the facilities at the Bridge Chapel Centre is delegated to the Trustees of the Bridge Chapel Centre [Charity No. 1122877] who are all members of Bridge Chapel.

Page 2

Bridge Chapel

Trustees' Report

ANNUAL REVIEW OF ACTIVITIES – 2020/21 (Public Benefit)

The Trustees have had regard to the Charity Commission general guidance on public benefit when reviewing our aims and objectives and in planning future activities. The Trustees consider that the charity’s activities reflect our aims and objectives, and that they are designed to provide accessible services and activities that benefit the appropriate sector of the public in accordance with our charitable activities.

The following ministries have been supported, maintained and developed during the financial year.

The church continued to hold services of worship every Sunday, which have included preaching and/or Bible teaching, and throughout the year, age-related activities for children have also been provided. All of these meetings have been open to the general public, whom we have regularly invited by means of leaflet campaigns and visitation in the surrounding area.

We responded to the different Covid restrictions with online and live streamed services. We restarted our regular in person gatherings as when the restrictions allowed us to do so.

We began processes to recruit to the team a new part time care worker, a youth worker and a pastor.

In addition, we conducted 1 Wedding, 2 Funerals and a thanksgiving service. We did not have any baptisms or deductions because of Covid restrictions.

Our targeted activities for a range of different groups gradually returned during the year as Covid guidance changed. This included meetings for seniors – Bible studies, lunch clubs and social get togethers have been promoted in Liverpool and the surrounding area. Our weekday activities for children also returned to meeting as and when appropriate and have attracted children from a similar catchment area. Activities for children and young people attract approximately 350 each week and in addition camps are held in the summer and autumn with over 100 attending.

The church supports a club on Thursdays for adults with learning difficulties.

The church has also maintained its support for church-planting and missionary work throughout the world. At present we support a family working with Africa Inland Mission (AIM) in Nairobi Kenya,A small mission in Nosy Be, Madagascar also with AIM, and a family working with Operation Mobilisation in Florence, South Carolina USA.The church building [Bridge Chapel Centre] is normally open 6 days per week and on many occasions is open for 7 days in a week and is a real and positive community resource to which the public have free access.

Bridge Chapel relies entirely on the freewill giving of members and others sympathetic with our aims and objectives. No public appeals for money are made. Opportunities for support of specific projects by prayer, in kind, by giving of time or resources may be communicated to the membership and congregation from time to time.

Page 3

Bridge Chapel

Trustees' Report

We are grateful and thankful to God that “All we have needed, His hand has provided, Great is His faithfulness, Lord unto us”

CAFE ESTA Ltd

BRIDGE CHAPEL has a wholly owned trading subsidiary. CAFÉ ESTA Ltd, a limited company [Company No. 04666210] operating as “Esther’s Coffee Lounge within the church premises.

CAFÉ ESTA Ltd has a single share issue of £1 and the Elders of the church hold this.

The relationship between the company and the charity is governed by a master trading agreement.

The principle activities of the company continue to be:

The company is committed to generating a small profit. In fact, however the cafe has needed a small amount of financial support from Bridge Chapel; the trustees have been willing to make these transfers in recognition that the cafe provides a valued and appropriate service to the daily users of the Bridge Chapel Centre according to the aims of Bridge Chapel, and that some items of capital expenditure have been necessary.

Any surpluses made by CAFÉ ESTA Ltd will be redistributed to Bridge Chapel and used as the charity sees fit to support its charitable aims.

RISK MANAGEMENT

The Trustees continue to regularly review the major risks to which the charity is exposed, and take appropriate action to mitigate those risks.

GRANT MAKING POLICY

The church currently aims to allocate at least 20% of the total donations received in the year to the following:-

Gifts to external organisations and individuals are considered by the Trustees on the basis of need and fulfilment of the charitable activities. There are no upper or lower limits of support.

Page 4

Bridge Chapel

Trustees' Report

FINANCIAL RESERVES POLICY

It is the policy of the church to hold in reserve the equivalent of six months general running costs, currently £150,000. The level of reserves is reviewed annually.

Reserves in our particular situation are needed to:-

The annual report was approved by the trustees of the charity on 26 January 2022 and signed on its behalf by:

......................................... Professor J Jarvis Trustee

Page 5

Bridge Chapel

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Bridge Chapel for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 26 January 2022 and signed on its behalf by:

......................................... Professor J Jarvis Trustee

Page 6

Biidge Chpel Independ¢Dt ExAmlner'i Report to the trwtees of Brldz¢ Chapel 2021 whith aTe ￿ Out OD P88¢s 8 to 16. As the chrity's trwt¢¢s of BTidg¥ Chapel (md also its directrn frx the pmprAes of e4Jmpany law) you (Ibe Aet'j Havthg sisfi¢d my8¢lf that the a¢oJmts of Brklge Chyl ￿ nrt to ￿ aadit4d Port 16 of the tth]nts &q ca￿led sertiLm 145 of tho Chiti¢s A¢t 2011 ('d￿ 2011 Aet?. kn CtiTryÈtiS Out my examith I have follow￿ the DirectiOJL8 by the Cbwity c1qnmi￿ uDd¢r sertion 14515)(b) of the 2011A( Ihmlependent •umlner's stat¢Tr¢nt Sillce ￿l￿ge cha￿1￿ 8ross inclmlle excee￿ £250.OIKI yow exwiw must be a meJDber of a body listed i seclion 145 of th¢ 2011 ACL I cth that l am qualified to ull&rtak¢ th¢ b￿8￿¢ l am a of ACCA, which ￿ ODe of thr li8t¢d bodi¢& l. aceKI￿till8 were not kqt in r¢sp¢rt of Brxb (W 8$ r4uired by seth1￿ 386 of tbe 2006 A¢¢ 3. th¢ do not ¢£￿}pty with the xcThmtiDg Teipmio4ts of 396 of 2006 Art other thpn e]•ttd (FRS 102)]. A( M¢rseyside LI5 SAF 27 JaTwary 2022

Bridge Chapel

Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Investment income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
11
Note
Income and Endowments from:
Donations and legacies
3
Investment income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
11		 Unrestricted
funds
£
258,562
374
258,936
(265,125)
(265,125)
(6,189)
(6,189)
793,550
787,361
Unrestricted
funds
£
279,308
850
280,158
(262,041)
(262,041)
18,117
(2,379)
15,738
777,812
793,550		 Restricted
funds
£
-
-
-
-
-
-
-
10,617
10,617
Restricted
funds
£
19,839
-
19,839
(27,130)
(27,130)
(7,291)
2,379
(4,912)
15,529
10,617		 Total
2021
£
258,562
374
258,936
(265,125)
(265,125)
(6,189)
(6,189)
804,167
797,978
Total
2020
£
299,147
850
299,997
(289,171)
(289,171)
10,826
-
10,826
793,341
804,167

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 11.

Page 8

Bridge Chapel

(Registration number: 7472282) Balance Sheet as at 31 March 2021

Note
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
Creditors: Amounts falling due within one year
10
Net current assets
Net assets
Funds of the charity:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
11		 2021
£
403,410
395,502
(934)
394,568
797,978
10,617
787,361
797,978		 2020
£
404,035
400,343
(211)
400,132
804,167
10,617
793,550
804,167

For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The financial statements on pages 8 to 16 were approved by the trustees, and authorised for issue on 26 January 2022 and signed on their behalf by:

----- Start of picture text -----
.........................................
Professor J Jarvis
Trustee
----- End of picture text -----

Page 9

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

1 Charity status

The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: Bridge Chapel Centre Heath Road Liverpool L19 4XR The principal place of business is: Bridge Chapel Centre Heath Road Liverpool L19 4XR

These financial statements were authorised for issue by the trustees on 26 January 2022.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

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

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Page 10

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

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

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Page 11

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Office equipment

Depreciation method and rate 25% reducing balance basis

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Government grants		 Unrestricted
funds
General
£
218,356
39,037
1,169
258,562		 Total
2021
£
218,356
39,037
1,169
258,562		 Total
2020
£
254,121
45,026
-
299,147

Page 12

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

4 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
5
Expenditure on charitable activities
Note
Grant funding of activities
Staff costs
Allocated support costs		 Unrestricted
funds
General
£
374
Unrestricted
funds
General
£
80,172
111,900
73,053
265,125		 Total
2021
£
374
Total
2021
£
80,172
111,900
73,053
265,125		 Total
2020
£
850
Total
2020
£
96,330
97,212
95,629
289,171

£229,482 (2020 - £229,482) of the above expenditure was attributable to unrestricted funds and £26,988 (2020 - £26,988) to restricted funds.

6 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Other non-audit services
Depreciation of fixed assets
Repairs & Maintenance
Office expenses
Travel and subsistence
Sundry and other costs
Legal and professional fees
Bank charges		 2021
£
(7,973)
(625)
(26,333)
(37,222)
(471)
-
(354)
(74)		 2020
£
(9,191)
(833)
(453)
(49,823)
(30,052)
(4,177)
(1,040)
(60)

Page 13

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

7 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2021
£
111,900		 2020
£
97,212

No employee received emoluments of more than £60,000 during the year.

8 Taxation

The charity is a registered charity and is therefore exempt from taxation.

9 Tangible fixed assets

Cost
At 1 April 2020
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
10 Creditors: amounts falling due within one year
Trade creditors		 Land and
buildings
£
401,536
401,536
-
-
-
401,536
401,536		 Furniture and
equipment
£
84,169
84,169
81,670
625
82,295
1,874
2,499
2021
£
934		 Total
£
485,705
485,705
81,670
625
82,295
403,410
404,035
2020
£
211

Page 14

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

11 Funds
Unrestricted funds
General
General
Restricted funds
Crafts for Christ
Bridge Kids
Total restricted funds
Total funds
Unrestricted funds
General
General
Restricted funds
Crafts for Christ
Bridge Kids
Youth Camp
Total restricted funds
Total funds		 Balance at 1
April 2020
£
Incoming
resources
£
Resources
expended
£
Balance at 31
March 2021
£
793,550
258,936
(265,125)
787,361
1,702
-
-
1,702
8,915
-
-
8,915
10,617
-
-
10,617
804,167
258,936
(265,125)
797,978
Balance at 1
April 2019
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March
2020
£
777,812
280,158
(262,041)
(2,379)
793,550
7,465
2,422
(8,185)
-
1,702
5,442
11,997
(8,524)
-
8,915
2,622
5,420
(10,421)
2,379
-
15,529
19,839
(27,130)
2,379
10,617
793,341
299,997
(289,171)
-
804,167		 Balance at 31
March 2021
£
787,361
1,702
8,915		 Balance at 31
March 2021
£
787,361
1,702
8,915
10,617
797,978
Balance at
31 March
2020
£
793,550
1,702
8,915
-
10,617
804,167

Page 15

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2021

12 Analysis of net assets between funds

12 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
403,410
384,885
(934)
787,361
Unrestricted
funds
General
£
404,035
389,726
(211)
793,550		 Restricted
funds
£
-
10,617
-
10,617
Restricted
funds
£
-
10,617
-
10,617		 Total funds
£
403,410
395,502
(934)
797,978
Total funds at
31 March
2020
£
404,035
400,343
(211)
804,167

Page 16