BRIDGES TEES VALLEY Unaudited Financial Statements
ACCOUNTS FOR YEAR ENDED
31 March 2022
ACCOUNTS REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] March 2022
| Contents TRUSTEES ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL POSITION NOTES TO THE FINANCIAL STATEMENTS |
Page 4. 5. 8. 9. 10-19. |
|---|---|
CHARITY REGISTERED NUMBER:
1154630 (England and Wales)
The trustees present their report and the unaudited financial statements of the company for the year ended 31 March 2022.
| Reference and administrative details | |
|---|---|
| Registered charity name: | Bridges Tees Valley |
| Charity registered number: | 1154630 |
| Principal office: | 5 Nelson Terrace |
| Stockton on Tees | |
| TS18 1NJ | |
| Trustees: | Mrs C Bligh |
| Mrs Helen-Lawler | |
| Cllr P Kirton | |
| Ms J Williams-Cook | |
| Accountants: | Charles & Co. |
| Office 22A | |
| The Off Quay Building | |
| Foundry Lane | |
| Newcastle upon Tyne | |
| NE6 1LH |
Structure, Governance and Management
Governing document, organisational structure and appointment of Trustees
Bridges Tees Valley (changed from Bridges Tees & Durham on 12 March 2014) is a Charitable Incorporated Organisation (CIO), registered on 19 November 2013 and is governed by it's constitution which was adopted on 4 May 2013. The CIO will be managed by the trustees consisting of no fewer than 3 and no more than 8 members. Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees.
Trustees Induction and Training
Most trustees are already familiar with the work of the charity before accepting appointment. New trustees are provided with copies of the constitution, latest accounts and business plans and are encouraged to meet the staff and service users. They are also encouraged to attend any external courses which are appropriate to their role as trustees.
Risk Management
The trustees have evaluated the major risks to which the charity is exposed and have put in place systems to identify and mitigate those risks. In particular the bookkeeping and administration is outsourced to a firm with a great deal of experience in this field, who have been able to assist the trustees with their obligations.
Objectives and Activities
The objectives of the CIO are to relieve the suffering caused by substance misuse by making help, support and advice available to the family and friends of drug users. Also the charity will work to advance the education of voluntary, statutory agencies and the public in all aspects of drug, alcohol abuse and addictive behaviours, it's causes, remedies, prevention and the caring role associated with substance misuse.
Achievements and Performance
Bridges continue to offer family addiction services across the Borough of Stockton. We also have a new service The Dare Liv project, which is sponsored by South Tees Health Trust and offers Hep C and HIV screening and support. Bridges has continued to increase the families we support, working with over 400 families and individuals. Over 4,250 individual, group and Counselling sessions were delivered to Bridges clients. Our Grandparent Carers service goes from strength to strength. The groups are well attended and Carole our Grandparent Carer Worker is as busier as ever. Bridges continues to work closely with other volunteer agencies and community groups such as Little Sprouts and the food hubs to deliver food and support to those in need.. Bridges Gardening services - are now fully operational and support our families to look after their gardens.
Financial Review
The Statement of Activities shows a deficit for the year of £5273.
The Unrestricted Funds stands at £192,555, with £49,101 being general funds.
Reserves Policy
The trustees aim to expend all funds on their charitable objects, but recognise the need to maintain a certain level of reserves as a cushion against possible future funding difficulties. Free reserves (i.e. those reserves not tied up in fixed assets, designated or restricted funds) of £164,101 would allow the charity to continue the operations for around 12 months, while alternative funding sources were sought.
At 31st March 2022, redundancy reserves amounted to £28,454.
The trustees' annual report was approved on 10th May 2022 and signed on behalf of trustees by:
Mrs C Bligh Trustee
Independent Examiner's Report to the Trustees of Bridges Tees Valley
Year Ended 31 March 2022
I report on the financial statements for the year ended 31 March 2022, which comprise the statement of financial activities, statement of financial position and the related notes.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
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to follow the procedure laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required for 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 next statement.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that any material respect the requirements.
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to keep accounting records in accordance with section 130 of the 2011 Act, and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Charles & Co.
Office 22A The Off Quay Building Foundry Lane Newcastle upon Tyne NE6 1LH
10th May 2022
Statement of Financial Activities
31 March 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 146,804 | 146,804 | 155,064 | |
| Charitable activities | 5 | 1905 | 1905 | 1,693 | |
| Other trading activities | 6 | 2454 | 2454 | 22,995 | |
| Total income | 151,163 | 179,752 | |||
| Expenditure | |||||
| Expenditure on charitable | |||||
| activities | 7,8 | 156,436 | 151,488 | ||
| Net Expenditure | (5273) | 28264 | |||
| Transfer between funds | |||||
| Net movement in funds | (5273) | 28264 | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 202,832 | 174,568 | |||
| Total funds carried forward | 197,559 | 202,832 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Statement of Financial Position
| 31 March Note Fixed Assets Tangible fixed assets 14 Current Assets Debtors 15 Cash at bank and in hand Creditors: within one year 16 Net current assets Creditors: longer than one year Total assets less current liabilities Net Assets Funds of the charity Restricted funds Unrestricted funds Total charity funds 18 |
2022 2022 £ 1910 198,774 200,684 3,125 |
£ £ 0 1430 204635 206,065 3,278 197,559 197,559 197,559 36,105 161,454 197,559 |
2021 £ 45 202,787 202,832 202,832 |
|---|---|---|---|
| 14,636 188,196 |
|||
| 202,832 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Mrs C Bligh Trustee
Notes to the Financial Statements
Year ended 31 March 2022
1. General Information
The company is a registered charity in England and Wales and is incorporated. The address of the principal office is 5 Nelson Terrace, Stockton on Tees, TS18 1NJ.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland, the 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) (Charities SORP (FRS 102) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income and expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 19.
Judgments and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.
Restricted funds are subject to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and it's amount can be measured reliably.
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Legacy income is recognised when receipt is probable and entitlement is established.
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Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. In which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. In which case it may be regarded as restricted.
Resources expended
Resources expended are included in the statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by the staff on those activities.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less it's residual value, over the useful economic life of that asset as follows:-
Equipment
20% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be aid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate. In which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of
impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Restricted | funds | Total funds | Restricted funds | Total funds | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Grants | |||||
| Stockton Drug Action Team | 139,000 | 139,00 | 139,000 | 139,000 | |
| Help Through Crisis | 7,804 | 7,804 | 16,064 | 16,064 | |
| Health Initiatives | 0 | 0 | 0 | 0 | |
| Total income | 146,804 | 146,804 | 155,064 | 155,064 |
2022 2021
5. Charitable activities
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| Other income from charitable | |||||
| activities | 2094 | 2094 | 20355 | 20355 |
6. Other trading activities
| 2021 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted funds | Total funds | Unrestricted funds Total funds | ||||
| £ | £ | £ £ |
||||
| Sale of | drug tests | 360 | 360 | 1,693 1,369 |
||
| Other income | 1905 | 1905 | 2,640 2,640 |
|||
| Total | 2,265 | 2,265 | 4,333 4,333 |
|||
| 7. | Expenditure | on charitable activities by fund type | ||||
| 2022 | ||||||
| Unrestricted funds | Restricted funds | Total funds | ||||
| £ | £ | £ | ||||
| Charitable activities | 0 | 156,436 | 156,436 | |||
| Support costs | 0 | 0 | 0 | |||
| Total | 0 | 156,436 | 156,436 | |||
| 2021 | ||||||
| Unrestricted funds | Restricted funds | Total funds | ||||
| £ | £ | £ | ||||
| Charitable activities | 0 | 151,488 | 151,488 | |||
| Support costs | 0 | 0 | 0 | |||
| Total | 0 | 151,488 | 151,488 |
2022 2021
8. Expenditure on charitable activities by activity type
| Activities undertaken directly | Total funds | Total funds | |
|---|---|---|---|
| £ | £ | £ | |
| Charitable activities | 155,476 | 155,476 | 150,528 |
| Governance costs | 960 | 960 | 960 |
| Total | 156,436 | 156,436 | 151,488 |
9. Net expenditure
Net expenditure is stated after charging/(crediting)
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets | 45 | 147 | |
| 10. | Independent examination fees | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees | payable to the independent examiner for: | ||
| Independent examination of the financial statements | 960 | 960 |
11. Staff costs and emoluments
The total staff costs and employees benefits for the reporting period are analysed as follows:
| Wages and salaries Social security costs Employer contributions to pension plan Total |
2022 £ 113,468 8,459 4,233 126,160 |
2021 £ 100,539 13,341 4,222 118,102 |
|---|---|---|
The average head count of employees during the year was 8 (2021:8). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Number of administrative staff | 1 | 1 | ||
| Number of management staff | 1 | 1 | ||
| Number of project workers | 6 | 6 | ||
| Total | 8 | 8 |
No employee received employee benefits of more than £60000 during the year (2021: NIL).
12. Trustee remuneration and expenses
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Transfer between funds
- These relate to transfers which account for management and other charges from unrestricted to restricted funds.
14. Tangible fixed assets
| Equipment | |
|---|---|
| £ | |
| Cost | |
| At 1 Apr 2021 and 31 Mar 2022 | 736 |
| Depreciation | |
| Charge for the year | 45 |
| At 31 March 2022 | 736 |
| Carrying amount | |
| At 31 March 2022 | 0 |
| At 31 March 2021 | 45 |
15. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 1910 | 1430 |
| Prepayments and accrued income | 0 | 0 |
| Pension fund | 0 | 0 |
| Total | 1910 |
1430 |
16. Creditors: amounts falling due within one year
| Trade creditors Accruals and deferred income Social security and other taxes Total |
2022 £ 0 1275 1850 3,125 |
2021 £ 0 1,275 2,003 |
|---|---|---|
| 3,278 |
17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4233 (2021: £4222).
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At 1 April | At 31 | March | ||||
| 2021 | Income | Expenditure | Transfers | 2022 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 44,742 | 4359 | 0 | 0 | 49,101 | |
| Building fund | 100,000 | 0 | 0 | 0 | 100,000 | |
| Infrastructure fund | 15,000 | 0 | 0 | 0 | 15,000 | |
| Redundancy reserve | 28,454 | 0 | 0 | 0 | 28,454 | |
| Totals | 188,196 | 4,359 | 0 | 0 | 192,555 |
Restricted funds
| At 1 April 2021 £ Stockton Drug Action Team 14636 DAT Apprentices 0 Health Initiatives 0 Help Through Crisis 0 Totals 14,636 |
Income Expenditure Transfers At 31 March 2022 £ £ £ £ 139000 (148632) 0 5,004 0 (0) 0 0 (0) 0 0 7804 (7804) 0 0 146804 (156436) 0 5,004 |
|---|---|
19. Transition to FRS 102
These are the second financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2016.
No transitional adjustments were required in the retained funds or income or expenditure for the year.