OpenCharities

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

2024-03-31-accounts

Company registration number: CE033971 Charity registration number: 1140509

Bridge Chapel

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024

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

Bridge Chapel

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 15

Bridge Chapel

Reference and Administrative Details

Charity Registration Number 1140509 Company Registration Number CE033971 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 2024.

Trustees and officers

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

Trustees: Professor J Jarvis Mr Ian MacMichael Mr Christopher Holloway Mr Paul Forrest (resigned 23 June 2023) Mr John Crawford (appointed 16 January 2024) Mr Oliver Hallett (appointed 16 January 2024) Mr Paul Cliff (appointed 16 January 2024) Mr Mark Bygroves (appointed 16 January 2024)

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).

Page 2

Bridge Chapel

Trustees' Report

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.

Various activities are overseen by sub-committees of the CIO which have delegated authority to act on behalf of the Trustees. These committees oversee the finances, the facilities and the cafe operation. They meet quarterly and report to the trustees.

Page 3

Bridge Chapel

Trustees' Report

ANNUAL REVIEW OF ACTIVITIES – 2023/24 (Public Benefit)

The merger of Bridge Chapel, Bridge Chapel Centre and Cafe Esta completed in October 2023.

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 social media posts on Facebook and Instagram, some leaflet campaigns and visitation in the surrounding area.

In addition, we conducted 7 funerals, 1 thanksgiving service and 8 people were baptised.

Our targeted activities for a range of different groups continued. 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 150 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 is normally open 5 days per week and on many occasions is open on weekends and is a real and positive community resource to which the public have free access.

We host a summer event for the community including a mobile farm and also community Easter and Christmas services.

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…”

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.

FINANCIAL RESERVES POLICY

It is the policy of the church to hold in reserve the equivalent of six months general running costs, currently approximately £400,000. 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 29 January 2025 and signed on its behalf by:

.........................................

Mr Ian MacMichael Trustee

Page 5

Bridge Chapel Independent Examiner's Report to the trustees of Bridge Chapel ('the Company,) I report to the ¢haTiiy trllst¢es on my examination of the aGcounts of the Company for the year ended 31 March 2024. Respon8ibilities and bfisis of report As the chariry's trustecs of the Company land also Its directors for the purposes of co￿PanY lawl you are responsible for the piepAration of the accout]ts iii accoTdance with the reqllirements of the Companie5 Act 2006 {'the 2006 Act,). Having 5at15fied ￿Yself tliat the accounts of the C.otnpany are not required to be audited under Part 16 of the 2006 Act and are eligible lor independent examination. I report in respe¢1 of my examinatjoll of your charity's accounts as catried out linder section 145 of the Charities Act 2011 I'the 20LI Act,). In carrying out tny ex8mination I have followed the Directions given by the Charity Coinmission under section 14515llb) of the 2011 Act. Independent examiner's st*¢ement Since the Company's gross incorne exceeded £250.000 your exEsminer must be a member of a body listed in Section 145 of th¢ 2011 Aei. I confirm that l am qiialified to undenake the eX￿nI￿allOn becaust l a membei of ACCA. which is one of the lisied bodies. I have completed my examination. I Gonfimi that no matters have come to my attention in connection with the examinatioD giving me cause to believe.. a¢¢ounting records were not kept in respect of Bridge Ch)p¢l as required by seclson 386 of the 2006 Act., OT 2. the accounts do not accord witli those records. or 3. the accounts do noi ¢omply with the accounting requiretnents of section 396 of the 2006 Act other than any requiremeni that the a¢￿￿nIS give a 'true and fair vicw, which is not a matter considered as part of an indcpendent examination: or 4. the accounts have not been prepared in accordance with the methods and principles of the Ststement of Recommended Pra¢ts¢e for 8¢¢oiinting and reporting by charitie¥ lapp12cable to charities prepaTing their atcounts in accordance with the FiDan¢ial Reporting Standard applicable in the and Republi¢ of Ireland IFRS 10211. I have no concerns and have COTne across no other maners in connection with the exalnination to which attention should be drawn in this report in ordtr to enable a proper understanding of the accoiints to be reached. Nicky Corbett ACCA 555 Smithdown Ro>Jd Liverpool Mersey5ide L15 SAF Ihte.. Page 6

Bridge Chapel

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
funds
£
332,567
326,154
8,718
667,439
(798,333)
(798,333)
(130,894)
(130,894)
988,564
857,670
Unrestricted
funds
£
475,434
20,000
1,667
497,101
(303,555)
(303,555)
193,546
193,546
795,017
988,563		 Restricted
funds
£
-
-
-
-
-
-
-
-
1,702
1,702
Restricted
funds
£
-
-
-
-
(8,915)
(8,915)
(8,915)
(8,915)
10,617
1,702		 Total
2024
£
332,567
326,154
8,718
667,439
(798,333)
(798,333)
(130,894)
(130,894)
990,266
859,372
Total
2023
£
475,434
20,000
1,667
497,101
(312,470)
(312,470)
184,631
184,631
805,634
990,265

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14.

The notes on pages 9 to 15 form an integral part of these financial statements. Page 7

Bridge Chapel

(Registration number: CE033971) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
14
Unrestricted income funds
Unrestricted funds
Total funds
14		 2024
£
412,938
13,989
439,155
453,144
(6,710)
446,434
859,372
1,702
857,670
859,372		 2023
£
402,590
20,000
574,183
594,183
(6,508)
587,675
990,265
1,702
988,563
990,265

For the financial year ending 31 March 2024 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 7 to 15 were approved by the trustees, and authorised for issue on 29 January 2025 and signed on their behalf by:

......................................... Mr Ian MacMichael Trustee

The notes on pages 9 to 15 form an integral part of these financial statements. Page 8

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

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 29 January 2025.

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.

The notes on pages 9 to 15 form an integral part of these financial statements. Page 9

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

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.

The notes on pages 9 to 15 form an integral part of these financial statements. Page 10

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

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 Depreciation method and rate Office equipment 25% reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

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.

The notes on pages 9 to 15 form an integral part of these financial statements. Page 11

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Gifts in kind		 Unrestricted
funds
General
£
251,932
53,268
27,367
332,567		 Total
2024
£
251,932
53,268
27,367
332,567		 Total
2023
£
289,501
51,933
134,000
475,434

4 Income from charitable activities

Rental income
Cafe income
Fees charged
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
241,849
79,248
5,057
326,154
20,000		 Total
funds
£
241,849
79,248
5,057
326,154
20,000

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
8,718
8,718
1,667		 Total
funds
£
8,718
8,718
1,667

The notes on pages 9 to 15 form an integral part of these financial statements. Page 12

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

6 Expenditure on charitable activities

Grant funding of activities
Staff Costs
Cafe expenses
Allocated support costs
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
(59,427)
(345,717)
(49,626)
(343,563)
(798,333)
218,350		 Total
funds
£
(59,427)
(345,717)
(49,626)
(343,563)
(798,333)
218,350

7 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
Catering
Bank charges
Cleaning
Light, power and heating
Camp expenditure		 2024
£
(11,792)
(3,801)
(212,589)
(44,893)
(661)
(111)
(12,267)
-
(760)
(8,741)
(47,409)
(539)		 2023
£
(9,463)
(352)
(3,614)
(25,933)
(14,224)
-
(27,896)
(251)
(131)
(1,257)
-
-

The notes on pages 9 to 15 form an integral part of these financial statements. Page 13

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2024
£
345,717		 2023
£
148,120

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

9 Taxation

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

10 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
11 Debtors
Trade debtors		 Land and
buildings
£
401,536
-
401,536
-
-
-
401,536
401,536		 Furniture and
equipment
£
84,169
14,149
98,318
83,115
3,801
86,916
11,402
1,054
2024
£
13,989		 Total
£
485,705
14,149
499,854
83,115
3,801
86,916
412,938
402,590
2023
£
20,000

The notes on pages 9 to 15 form an integral part of these financial statements. Page 14

Bridge Chapel

Notes to the Financial Statements for the Year Ended 31 March 2024

12 Cash and cash equivalents

Cash on hand
Cash at bank
13 Creditors: amounts falling due within one year
Trade creditors
14 Funds
Balance at 1
April 2023
£
Unrestricted funds
General
General
988,563
Restricted funds
Crafts for Christ
1,702
Total funds
990,265
Balance at 1
April 2022
£
Unrestricted funds
General
General
795,016
Restricted
Crafts for Christ
1,702
Bridge Kids
8,915
Total restricted funds
10,617
Total funds
805,633		 Incoming
resources
£
667,440
-
667,440
Incoming
resources
£
497,101
-
-
-
497,101		 2024
£
164
438,991
439,155
2024
£
6,710
Resources
expended
£
(798,333)
-
(798,333)
Resources
expended
£
(303,554)
-
(8,915)
(8,915)
(312,469)		 2023
£
-
574,183
574,183
2023
£
6,508
Balance at 31
March 2024
£
857,670
1,702
859,372
Balance at 31
March 2023
£
988,563
1,702
-
1,702
990,265

The notes on pages 9 to 15 form an integral part of these financial statements. Page 15