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2021-03-31-accounts

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Charity Registration Number: 1154914

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS

For the year ended 31 March 2021

Page
Trustees Report 1 – 5
Independent Examiners’ Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 – 15

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees submit their annual report and the financial statements of The Bradfield Club for the year ended 31 March 2021. The Trustees confirm that the annual report and financial statements of the Charity comply with the current statutory requirements, the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities.

Objectives of the Charity

The Charity provides for the social, educational, recreational and individual development needs of the young people of Southwark and the areas of Reading Borough Council, West Berkshire Council and Wokingham Borough Council, regardless of their gender, race, religion and disabilities.

Structure, Governance and Management

Legal Status

The Charity is a Charitable Incorporated Organisation (CIO). It is registered with the Charity Commission number 1154914.

The Charity's registered office and operation address is 5-13 Commercial Way, London SE15 6DQ.

Organisation

The Trustees of the CIO have overall responsibility for the Charity's affairs and will aim to meet three to four times per year.

Four sub-committees have been established with a Chairman who is also a Trustee of the Charity. Others can be co-opted to each of these committees. The four sub-committees are:

Trustees of the CIO are as follows:

Peter Gangsted Chair Dr Christopher Stevens Suki Allday (appointed 26[th] November 2020) Sheromie Brewster Iain Clark Roxana Done (appointed 26[th] November 2020) Charles George QC Boka Lyamuja (appointed 26[th] November 2020)

1

George Masters Nick Sansom (appointed 26[th] November 2020) Chris Turpin Stuart Williams

Induction and Training of Trustees

The induction programme for new trustees includes:

Risk Management

The CIO, through the Regulation and Infrastructure Sub-committee, conducts a regular review of the major risks to which the Charity is exposed. Funding is a risk, as for all charities. Our reserves are lower than we would like but we are running these down ahead of our expected redevelopment. The Trustees consider that adequate insurance is held with Royal & Sun Alliance. Procedures are in place to ensure compliance with health and safety of staff, volunteers and visitors to The Bradfield Club in Peckham. Regular risk assessments are undertaken for all activities at the Club.

We continuously review our financial controls.

Other Information

We received no contracts from central or local government to deliver services.

There have been no serious incidents at the Club.

2

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

This year to 31[st] March 2021 was an extraordinarily difficult one for our staff and for all those in the local community who use the Club due to the Covid pandemic. We took the decision to close the Club on 20th March 2020. It was not until August that we were able to restart some limited activities in our outdoor car park. From September we were allowed to have a very limited number of people inside the Club with social distancing being observed. Despite the restrictions we have managed to keep in touch with young people in the area and we detail some of this below.

People

As our finances came under significant pressure, we had to make some difficult decisions regarding our employees during the year. It was with great reluctance that we had to terminate the employment of both Junior and Janet Gardner. Rose Atkinson was furloughed for some time, but we are pleased she is now back working with her usual enthusiasm. Daniel Campbell kept the ship running and has worked hard to ensure that he was visible in the Community as much as possible and so we are particularly grateful to him.

Youth work

Clearly this has been significantly curtailed during lockdown in particular. Even when lockdown restrictions were eased, we were only able to work in a limited fashion. Provision of nutritious meals has been a major activity for us particularly during lockdown. To start with we provided food packs for young people. This became increasingly popular, and we were able partner with Millwall FC to provide daily meals during weekdays. Over 300 hot meals were provided in the first month we operated. As kids came to collect Daniel was able to engage with them to check how they were coping. For quite a long time we were only able to have 6 children on site, so we needed to rotate people through the building. Then, of course, a further lockdown occurred and our activities were again severely curtailed.

We re-instigated our food programme in January and February and were dishing out around 300 meals per month, mainly lunches, before the children went back to school.

We have been able to continue with our mentoring programme. Of necessity we can only do this with a limited number of people, but it has been invaluable.

Infrastructure and Regulation

The building continues to hold up quite well. We instigated a major deep clean at the end of March ahead of our re-opening in May largely thanks to a generous grant for emergency funding. We continue to await news on our redevelopment. Various negotiations with our partner continued and, at the time of writing, a final application has gone in to Southwark Council.

There have been no issues surrounding Child Protection and Health and Safety. Of course the Club was closed for some time but we have been diligent in doing our Risk Assessments when we have had our limited re-openings. Both Daniel and Rose are up to date on all relevant training.

3

Finance and Fund Raising

There was a small cash surplus for the year. Although we lost a major source of funds as we were not able to hire out the hall, we were able to offset this by cutting costs and, of course, significant help from the Government on staff costs. Both income and expenditure were significantly down on the previous financial year, but we managed to keep these roughly in balance.

Reserves Policy

The free reserves of the charity at 31[st] March 2021 were £14,381. The Charity aims to build total reserves of £50,000 to allow the continuation of activity in the event of unforeseen deterioration in financial circumstances.

The Trustees will review this reserves policy annually.

Summary

While our financial year coincided with most of the worst of the Coronavirus pandemic, we managed to keep some activities going and made sure we were still visible in the local community. This was a considerable achievement in the circumstances and bodes well for the future.

We made a major initiative to get more Trustees onto the CIO committee and four new Trustees were recruited. We now have a younger and more diverse group running affairs with great enthusiasm.

Our finances have improved somewhat since the end of the year thanks to some significant contributions from existing Trustees as well as third parties.

4

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

Statement Of Trustees’ Responsibilities

The Trustees 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).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the 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 disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the special provisions of part VII of the Companies Act 1985.

This report was approved by the Trustees on 25[th] November 2021 and signed on their behalf by:

………………………….. …………………………..

Trustee Trustee

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INDEPENDEDNT ACCOUNTANT’S REPORT TO THE TRUSTEES OF THE BRADFIELD CLUB FOR THE YEAR ENDED 31 MARCH 2021

I report on the financial statements of The Bradfield Club for the year ended 31 March 2021 which are set out on pages 7 to15.

This report is solely to the Club’s trustees, as a body, in accordance with section 43(3) of the Charities Act 1993 (“the Act”). My examination has been undertaken so that I might state to the Club’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Club and the Club’s trustees as a body for my examination, for this report or opinions I have formed,

Responsibilities of trustees and independent Examiner

The Club’s trustees are responsible for the preparation of the financial statements. The Club’s trustees consider that the audit requirements of section 43(2) of the Charities Act 1993 do not apply and that an independent examination is required.

It is my responsibility to:

Basis of independent Accountant’s report

My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the Club, and a comparison of the financial statements present with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.

Independent Accountant’s statements:

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or to which, in my opinion, attention should be drawn in other to enable a proper understanding of the financial statements to be reached.

……………………………… Stephen Godfrey Godfrey, Anderson & Co Chartered Accountants Unit 6 Portland Business Centre Manor House Lane Datchet. Berkshire SL3 9EG

Dated.........................................

6

THE BRADFIELD CLUB STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and Legacies
1
Charitable activities
2
Income from other trading
activities
3
Other
4
Total Income
Expenditure on:
Charitable activities
5
Other
6
Total Expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2021
Total
Funds
2020
£
£
£
£

62,334
62,334
61,127

3,500
10,570
14,070
37,000

4,110
4,110
36,760

11,234
11,234
1,653
81,178
10,570
91,748
136,540

92,415
10,570
102,985
161,599

10,655
10,655
840
103,070
10,570
113,640
162,439
(21,892)
0
(21,892)
(25,890)
0
0
0
0
(21,892)
0
(21,892)
(25,899)
83,524
0
83,524
109,423
61,631
0
61,631
83,524

The Charity had no recognised gains or losses in the year other than those set out above. All the above results were derived from continuing activities.

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

7

THE BRADFIELD CLUB BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021

Note
Fixed Assets
Tangible fixed assets
10
Current Assets
Debtors
11
Cash in bank and in hand
Current Liabilities
Net current assets
Total assets less current liabilities
General funds
Restricted funds
Total charity funds		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2021
Total
Funds
2020
£
£
£
£
48,837
48,837
68,589
48,837
48,837
68,589
4,575
4,575
5,194
9,806
9,806
9,741
14,381
14,381
14,935
1,587
1,587
0
12,794
12,794
14,935
61,631
61,631
83,524
61,631
61,631
83,524
0
0
0
61,631
0
61,631
83,524

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

Approved by the Club Trustees on 25[th] November 2021 and signed on its behalf by:

...................................................................... ............................................................. Trustee Trustee

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THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

ACCOUNTING POLICIES

The principal accounting policies which have been adopted are set out below:

Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP) issued in March 2005.

Incoming Resources

Voluntary income includes grants that provide core funding or are of general nature are recognized in full in the Statement of Financial Activities in the year in which they are receivable, except when the donors specify that the grant given must be used in future accounting period, the income is deferred until those periods.

Investment income is recognized on a receivable basis.

Incoming resources from charitable activities include income received under contract or where entitlement to grant funding is subject to specific conditions to deliver and is recognized whereas the service is provided.

Other income is accounted for on a cash basis.

Resources Expended

Expenditure is recognized when the liability is incurred.

Taxation

The company is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

Fund Accounting

Unrestricted funds are grants, donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

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THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Restricted funds are funds that can only be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purpose or relate to grants given specifically for the purchase of assets where the use is not restricted. The aim and use of each of the designated fund is set out in the notes to the financial statements.

Depreciation

Depreciation is calculated on assets costing over £500, on a straight line basis over 3 years. Property improvements are depreciated on a straight line basis over 10 years.

10

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Donations and Legacies

Gifts and Donations
Bradfield College*		 Unrestricted
funds
Restricted funds
2021
£
2020
£
62,334
0
62,334
31,127
20,000
0
20,000
30,000
82,334
0
82,334
61,127

2. Income from charitable activities – grants receivable

Christian Help
Foundation
Anonymous
First State
Investments (FSI
Services)
The Rank
Foundation		 Unrestricted
funds
Restricted funds
2021
£
2020
£
0
0
0
20,000
0
0
0
10,000
3,500
0
3,500
7,000
0
10,570
10,570
0
3,500
10,570
14,070
37,000

3. Income from other trading activities

Hall hire Unrestricted
funds
Restricted funds
2021
£
2020
£
4,110
0
4,110
36,760
4,110
0
4,110
36,760

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THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Other

HMRC Job
retention scheme
Other		 Unrestricted
funds
Restricted funds
2021
£
2020
£
11,184
0
11,184
0
50
0
50
1,654
11,234
0
11,234
1,654

Expenditure

5. Charitable activities

Youth Work
activities		 Staff
expenditure
Non- staff
expenditure
Support cost
Total 2021
Total 2020
£
£
£
£
£
48,127
2,988
51,870
102,985
161,599
48,127
2,988
51,870
102,985
161,599

6. Other expenditure

Other expenditure
Hall hire
Building development
Other
Total resources expended*		 Staff
expenditure
Non-staff
expenditure
Support
cost
Total 2021
Total
2020
£
£
£
£
£
0
200
0
200
0
0
1,500
0
1,500
840
0
8,955
0
8,955
0
0
10,655
0
10,655
840
48,127
13,643
51,870
113,640
162,439

*This includes opening balance sheet adjustments.

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THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7.
Support costs
Youth Work activities
Hall hire
Total 2021
Total 2020
Staff
costs
Office
administr
ation
Premises
Governa
nce
Total
2021
Total
2020
£
£
£
£
£
£
12,746
6,763
32,012
348
51,870
83,543
0
0
0
0
0
0
12,746
6,763
32,012
348
51,870
83,543
18,779
28,466
36,299
0
83,543
8.
Governance cost
Independent accounts
examination		 2021
2020
£
£
300
0
300
0
9.
Staff costs
Salaries and wages
Pensions		 2021
2020
£
£
60,208
75,364
665
0
60,873
75,364

13

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Fixed assets

Cost
Balance brought forward at 1 April 2020
Additions
Less: Disposals
Balance carried forward at 31 March 2021
Depreciation
Balance brought forward at 1 April 2020
Provision in year
Balance carried forward at 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Car
Freehold
Property
Furniture
Fixtures &
Fittings
Total
£
£
£
£
10,942
313,136
21,286
345,364
0
0
0
0
(10,942)
0
0
(10,942)
0
313,136
21,286
334,422
10,942
244,547
21,286
276,775
(10,492)
19,752
0
8,810
0
264,299
21,286
285,585
0
48,837
0
48,837
0
68,589
0
68,589

The net book value at 31st March 2021 represents tangible fixed assets used for direct charitable purposes.

11.
Debtors
Gift Aid		 2021
2020
£
£
4,575
5,194
4,575
5,194

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THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. Analysis of net assets between funds

Tangible Assets
Curent Assets
Curent Liabilities		 Unrestricted Funds
Restricted
Funds
Total funds
2021
Total funds
2020
£
£
£
£
48,837
0
48,837
68,589
14,381
0
14,381
14,935
1,587
0
1,587
0
61,631
0
61,631
83,524

13. Remuneration and expenses to trustees

No remuneration was paid to the Trustees or Management Committee in either year

15