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2023-03-31-accounts

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Charity Registration Number: 1154914

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS

For the year ended 31 March 2023

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 2023

The Trustees submit their annual report and the financial statements of The Bradfield Club for the year ended 31 March 2023. 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 Suki Copeland - resigned 24[th] September 2022 Iain Clark Roxana Done Boka Lyamuya – resigned 28[th] September 2022 George Masters Christopher (Kit) Pirnie Nick Sansom Dr Christopher Stevens

1

Chris Turpin - resigned 18[th] July 2022 Stuart Williams Maria Vildavskaya

Induction and Training of Trustees

The induction programme for new trustees includes:

Risk Management

The CIO, through FRIC, 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 now quite reasonable. This as a result of receiving a non-refundable deposit when our developer pulled out. 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. Regularly reviewed policies are in place for Child Protection and Safeguarding. 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.

THE BRADFIELD CLUB

2

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023

The year to 31[st] March 2023 showed, in most respects, a significant improvement on the previous year. We continued to provide a full programme of activities and the number of young people coming through the door improved significantly.

As noted last year our developers pulled out of the redevelopment project, which was disappointing after all the work that the development sub-committee had gone through.

People

Daniel continues to lead the Club forward with his usual enthusiasm. In the last year he has developed the team and now has a number of people supporting him, some paid and some volunteers. We thank Desrita, Jessika and Valerie for all their hard work. Rose worked very hard in the first half of the year however at the beginning of this calendar she had to have an operation and has not been able to return since. We are all hoping she will recover as she has been a stalwart of the Club for well over 10 years and is very well known in the local community.

Youth Work

Overall we are making good progress on agreed strategic objectives.

On the sporting front the basketball initiatives have been a big success. We have regular coaching sessions and the numbers coming to the Club have been very encouraging. We have also introduced badminton and, while not as popular as basketball, the numbers participating are encouraging. On the football front we have also had a lot of success in particular with our partnering Millwall FC. They have been providing coaching and also have run a Summer programme which proved very popular. Our mentoring programme had been going well, from a low base, but unfortunately our main mentor left. We are working hard to find a replacement.

The Kids Club, which we have run for some years continues to thrive and in addition to the usual range of activities, it provides children with an important way to express themselves and to engage in broad ranging discussions.

The one area we need to develop further is career guidance and we are working to improve this.

Infrastructure and regulation

In the summer we learned that our developers decided not to proceed. While this was very disappointing, we have retained the deposit and, after paying some outstanding professional fees it has left us with a meaningful sum. Some of this will be needed to keep the existing building in reasonable shape as it has become quite tired. In particular we have funded improvements to our electrics.

There have been no regulatory issues on Health and Safety, Child Protection or Safeguarding to report.

We have also made significant improvements to our website which is now up and running. There is still work to be done but it remains a priority.

3

Finance and Fundraising

We had significantly more income than expenditure this year, however that rather flatters the real position. This was largely due to our retaining the redevelopment deposit and, excluding this, our position would look much worse. We had a small increase in our expenditure, which, given the inflationary increases in utilities in particular was commendable. Encouragingly we have started to generate a decent return from our Hall Hires after 2 years of virtually negligible returns. Fundraising however has been difficult and we need to get behind this over the next year or two.

Reserves policy

The free reserves of the Charity are £ 166,084. As mentioned above this is higher than normal due to the retained deposit from the development project.

The Charity aims to build total reserves of around £50,000 to allow the continuation of activity for about 6 months in the event of unforeseen deterioration in financial circumstances.

Summary

The Club was able to get back done to doing what it does best which is providing a safe and welcoming place for the youth from the local community and, in this, we believe we have had a successful year.

We are dependent on a small group of Trustees and we need to add to our current number and range of expertise so that we can continue to provide a vital service in an area which has been somewhat neglected by both Central and local government in recent years.

4

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023

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 13[th] November 2023 and signed on their behalf by:

………………………….. …………………………..

Trustee Trustee

5

INDEPENDEDNT ACCOUNTANT’S REPORT TO THE TRUSTEES OF THE BRADFIELD CLUB FOR THE YEAR ENDED 31 MARCH 2023

I report on the financial statements of The Bradfield Club for the year ended 31 March 2023 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.

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

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

6

THE BRADFIELD CLUB STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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
2023
Total
Funds
2022
£
£
£
£
57,598
57,598
102,090
10,000
4,500
14,500
13,000
3,550
3,550
4,200
167,926
167,926
12,324
239,074
4,500
243,574
131,615
132,002
4,500
136,502
115,215
9,519
0
9,519
15,559
141,522
4,500
146,022
130,774
97,553
0
97,553
841
0
0
0
0
97,553
0
97,553
841
62,473
0
62,473
61,631
160,025
0
160,025
62,473

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 2023

Note
Fixed Assets
Tangible fixed assets
10
Current Assets
Debtors
11
Cash in bank and in hand
Current Liabilities
12
Net current assets
Provisions for liabilities
13
Total net assets
General funds
Restricted funds
Total charity funds		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
Total
Funds
2022
£
£
£
£
9,333
0
9,333
29,085
9,333
0
9,333
29,085
1,506
0
1,506
6,988
164,578
0
164,578
28,788
166,084
0
166,084
35,775
5,250
0
5,250
2,388
160,834
0
160,834
33,388
10,141
0
10,141
0
160,025
0
160,025
62,473
160,025
0
160,025
62,473
0
0
0
0
160,025
0
160,025
62,473

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

Approved by the Club Trustees on 13[th] November 2023 and signed on its behalf by:

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

8

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

9

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

Liabilities

Liabilities are amounts due to creditors and any provision made as a result of an obligation to transfer economic benefits, usually in the form of a cash payment, to a third party.

Liabilities are recognised for the amount that the charity anticipates it will pay to settle the debt or the amount it has received as an advance payment for goods or services it must provide.

Provisions are recognized where a present obligation exists to third parties as a result of a past event, where a future outflow of resources is probable and an estimate of that outflow can be made.

10

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Donations and Legacies

Donations and legacies

Donations and legacies
Gifts and Donations
Bradfield College*		 Unrestricted
funds
Restricted
funds
2023
£
2022
£
57,598
0
57,598
97,090
0
0
0
5,000
57,598
0
57,598
102,090

2. Income from charitable activities – grants receivable

Charitable activities

Charitable activities
First State Investments(FSI
Services)
Chartherhouse in Southwark
Seymour Foundation
Anonymous		 Unrestricted
funds
Restricted
funds
2023
£
2022
£
0
0
0
7,000
0
0
0
6,000
0
4,500
4,500
0
10,000
0
10,000
0
10,000
4,500
14,500
13,000

3. Income from other trading activities

Hall hire Unrestr
icted
funds
Restricted
Funds
2023
£
2022
£
3,550
0
3,550
4,200
3,550
0
3,550
4,200

11

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Other

HMRC Job retention scheme
Bank interest
Other		 Unrestricted
funds
Restricted
funds
2023
£
2022
£
0
0
0
1324
219
0
219
0
167,707
0
167,707
11,000
167,926
0
167,926
12,324

In August 2022 a developer, with whom we were negotiating, chose not to exercise its right to proceed with a development and, as a consequence, forfeited its deposit of £167,707.

5. Charitable activities

Youth Work
activities		 Staff
expenditure
Non- staff
expenditure
Support cost
Total 2023
£
Total 2022
£
58,438
3,493
74,571
136,502
112,958
58,438
3,493
74,571
136,502
112,958

6. Other expenditure

Other expenditure
Hall hire
Building development
Other
Total resources expended		 Staff
expenditure
Non-staff
expenditure
Support
cost
Total 2023
£
Total 2022
£
0
300
0
300
1,685
0
6,900
0
6,900
13,874
0
2,319
0
2,319
2,257
0
9,519
0
9,519
17,816
58,438
13,013
67,430
138,880
130,774

12

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Support costs
Office Total Total
Staff administrati Gover 2023 2022
costs on Premises nance £ £
Youth Work activities 0 9,287 65,284 0 74,571 49,268
Hall hire 0 0 0 0 0 0
Total 2023 0 9,287 65,284 0 74,571 49,268
Total 2022 0 5,509 43,459 300 49,268
8. Governance cost
2023 2022
£ £
Independent accounts
examination 300 300
300 0
9. Staff costs
2023 2022
£ £
Salaries and wages 58,438 59,434
Pensions 0 0
58,438 59,434

THE BRADFIELD CLUB

13

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Fixed assets

Cost
Balance brought forward at 1 April 2022
Additions
Less: Disposals
Balance carried forward at 31 March 2023
Depreciation
Balance brought forward at 1 April 2022
Provision in year
Balance carried forward at 31 March
2023
Net Book Value
At 31 March 2023
At 31 March 2022		 Car
Freehold
Property
Furniture
Fixtures &
Fittings
Total
2023
£
313,136
21,286
334,422
0
0
0
0
0
0
0
0
0
313,136
21,286
334,422
0
284,051
21,286
305,337
0
19,752
0
19,752
0
303,803
21,286
325,089
0
9,333
0
9,333
0
29,085
0
29,085

The net book value at 31st March 2023 represents tangible fixed assets used for direct charitable purposes.

11.
Debtors
Gift Aid
12.
Current Liabilities		 2023
2022
£
£
1,506
6,988
1,506
6,988
Trade Creditors
Other creditors		 2023
2022
£
£
5,250
0
0
2,388
5,250
2,388

THE BRADFIELD CLUB

14

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 Provisions for Liabilities

Provisions for liabilities 2023
2022
£
£
10,141
0
10,141
0

Provisions for liabilities represents estimates of the amounts for disputed payments for services received.

14 Analysis of net assets between funds

Tangible Assets
Curent Assets
Liabilities		 Unrestricted Funds
Restricted
Funds
Total funds
2023
£
Total funds
2022
£
9,333
0
9,333
29,085
166,084
0
166,084
35,775
15,391
0
15,391
2,388
160,025
0
160,025
62,473

15 Remuneration and expenses to trustees

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

15