OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-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 2022

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

Bridge Chapel

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 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

Charity Registration Number 1140509 Company Registration Number 7472282 Registered Office Bridge Chapel Centre Heath Road Liverpool L19 4XR Independent Examiner Corbett & Co Accountants Ltd 555 Smithdown Road Liverpool Merseyside L15 5AF Bankers CAF Bank Ltd

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 2022.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Professor J Jarvis Mr I MacMichael Mr Christopher Holloway Mr Paul Forrest

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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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

Page 2

Bridge Chapel

Trustees' Report

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 3

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 on-line and live streamed services. We restarted our regular in person gatherings as when the restrictions allowed.

We recruited to the staff team the following roles: a part time care worker, a full time youth worker and a full time pastor.

In addition, we conducted 3 weddings, 9 funerals, 1 child dedication and 5 baptisms.

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, 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 4

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 5

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 22 December 2022 and signed on its behalf by:

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

Page 6

Brmlgt Chapel Independent ExAminerfs Report to Ibe trwteu of Bridge Cbapel {'the Company I rep￿ to the cPArity tr￿Stee$ on my examina11￿ of ¥c4xmL8 of the Cw the year ended 31 March 2022. Respongibilitie$ attd basL8 of rewhrt As the charity's trust¢es of tlL¢ Compary (and also its direLts for the pll[p￿ of cowy law) you are responsible for the pr¢paration of the xcounts in accthe with th¢ requinnejts of the Compallies Act 2006 {Mhe 2006 Act,). Having satiSf￿d myself that the a¢¢ounts of the c￿ are not rtyuired to be audited under Part 16 of the 2(K16 Aet and ore eligible for iThletDdrnt examina1￿ I repxt ID respect of my examination of y(bur ¢lwity's aecounts as carried out u￿1¢r S¢c￿n 145 of the CIMrill￿ Ath 2011 ('the 2011 Act.). tn witig out my examinati￿ I have followed the Dtytcti(￿ given by the (tharity Com[ri￿oll under section 145(5)(b) of the 2011 Act. lttdependellt examjDer'$ gtstern¢nt Since the Cornpany's gross I￿rne exceryjed £250.tMJ) YO￿ examiller must be of a b(dy listed in section 145 of the 2011 ACL I confirtn tIMt l arn 4￿I￿d to ththtake the exami￿0￿ because I am a member of ACCA, which 15 one of the listed b(￿1¢ I have conJpl¢t¢d tny exam1t￿tI￿. l ¢￿smI th Th) Jwtters have come to my gitention in connection Twlth the examination givitig me cause to believe: l. accounti￿ rec(￿￿ were noi k¢O in r&spttt of Blmlge Chapel &% required by section 386 of th¢ 2006 A¢ or 2. the accounts do with those rec(Yd&" 3. the accounts do not ccwly with th¢ 0¢¢(wtiti￿ of section 396 of the 2006 Act other thw) any requirement that the accowts giv¢ a'tsu¢ fair View which is a matttt Consider￿ as W of 4. th¢ ￿counts have not been prepared in acCOTd￿ with the methods and prirKipks of the Ststetnent of R¢￿nn￿ded Prn¢ti¢e for accounting aThl retK)rtiDg by clwities [ar4)licable to chariries prepartng tbeir a￿vullts in accoAdan¢e with the FinatKial ReFKKtillg Ststtdard aN)Jicable in the UK attd Republic of brlalld (FRS 102)]. I have DO wnc¢rns alld have com¢ #¢ross n￿tte[S ID co]Jne¢tith) with the exami1￿oll to which att¢n¢ion should be drawn in this report in ord¢Tty ¢uabl¢ a pro￿ uJyJ¢r5tsDding ofthe *counts ￿ be rea¢heiL Nicky Corbett ACCA 555 Smithdown Road Liv¢rpool Merseyside L15 SAF

Bridge Chapel

Statement of Financial Activities for the Year Ended 31 March 2022 (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 income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
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
12		 Unrestricted
funds
£
291,703
324
292,027
(284,372)
(284,372)
7,655
7,655
787,361
795,016
Unrestricted
funds
£
258,562
374
258,936
(265,125)
(265,125)
(6,189)
(6,189)
793,550
787,361		 Restricted
funds
£
-
-
-
-
-
-
-
10,617
10,617
Restricted
funds
£
-
-
-
-
-
-
-
10,617
10,617		 Total
2022
£
291,703
324
292,027
(284,372)
(284,372)
7,655
7,655
797,978
805,633
Total
2021
£
258,562
374
258,936
(265,125)
(265,125)
(6,189)
(6,189)
804,167
797,978

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.

The notes on pages 10 to 16 form an integral part of these financial statements. Page 8

Bridge Chapel

(Registration number: 7472282) Balance Sheet as at 31 March 2022

Note
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
10
Creditors: Amounts falling due within one year
11
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
12
Unrestricted income funds
Unrestricted funds
Total funds
12		 2022
£
402,942
403,844
(1,153)
402,691
805,633
10,617
795,016
805,633		 2021
£
403,410
395,502
(934)
394,568
797,978
10,617
787,361
797,978

For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 16 were approved by the trustees, and authorised for issue on 22 December 2022 and signed on their behalf by:

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

The notes on pages 10 to 16 form an integral part of these financial statements. Page 9

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

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

These financial statements were authorised for issue by the trustees on 22 December 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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.

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.

Page 10

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

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 2022

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 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
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
241,374
48,063
2,266
291,703
258,562		 Total
funds
£
241,374
48,063
2,266
291,703
258,562

Page 12

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

4 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2022
Total for 2021
5
Expenditure on charitable activities
Note
Grant funding of activities
Staff costs
Allocated support costs
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
324
324
374
Unrestricted
funds
General
£
66,355
142,491
75,526
284,372
265,125		 Total
funds
£
324
324
374
Total
funds
£
66,355
142,491
75,526
284,372
265,125

6 Net incoming/outgoing resources

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

Other non-audit services
Depreciation of fixed assets
Repairs & Maintenance
Office expenses
Travel and subsistence
Legal and professional fees
Bank charges		 2022
£
(8,397)
(469)
(1,131)
(31,279)
(14,676)
(19,333)
(240)		 2021
£
(7,973)
(625)
(26,333)
(37,222)
(471)
(354)
(74)

Page 13

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

7 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2022
£
142,491		 2021
£
111,900

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 2021
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
10 Cash and cash equivalents
Cash on hand
Cash at bank
11 Creditors: amounts falling due within one year
Trade creditors		 Land and
buildings
£
401,536		 Furniture and
equipment
£
84,169
84,169
82,295
468
82,763
1,406
1,874
2022
£
-
403,844
403,844
2022
£
1,153		 Furniture and
equipment
£
84,169
84,169
82,295
468
82,763
1,406
1,874
2022
£
-
403,844
403,844
2022
£
1,153		 Total
£
485,705
485,705
82,295
468
82,763
402,942
403,410
2021
£
1
395,501
401,536 84,169
-
-		 82,295
468
- 82,763
401,536 1,406
401,536 1,874
2022
£
-
403,844
403,844
2022
£
1,153
395,502
2021
£
934

Page 14

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

12 Funds
Unrestricted funds
General
General
Restricted funds
Crafts for Christ
Bridge Kids
Total restricted funds
Total funds
Unrestricted funds
General
General
Restricted
Crafts for Christ
Bridge Kids
Total restricted funds
Total funds		 Balance at 1
April 2021
£
787,361
1,702
8,915
10,617
797,978
Balance at 1
April 2020
£
793,550
1,702
8,915
10,617
804,167		 Incoming
resources
£
292,027
-
-
-
292,027
Incoming
resources
£
258,936
-
-
-
258,936		 Resources
expended
£
(284,372)
-
-
-
(284,372)
Resources
expended
£
(265,125)
-
-
-
(265,125)		 Balance at 31
March 2022
£
795,016
1,702
8,915
10,617
805,633
Balance at 31
March 2021
£
787,361
1,702
8,915
10,617
797,978

Page 15

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2022

13 Analysis of net assets between funds

13 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
£
402,942
393,227
(1,153)
795,016
Unrestricted
funds
General
£
403,410
384,885
(934)
787,361		 Restricted
funds
£
-
10,617
-
10,617
Restricted
funds
£
-
10,617
-
10,617		 Total funds at
31 March
2022
£
402,942
403,844
(1,153)
805,633
Total funds at
31 March
2021
£
403,410
395,502
(934)
797,978

Page 16