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← The Bradfield Club

2024-03-31-accounts

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charity Registration Number: 1154914

THE BRADFIELD CLUB

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

CONTENTS

For the year ended 31 March 2024

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 2024

The Trustees submit their annual report and the financial statements of The Bradfield Club for the year ended 31 March 2024. 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.

Principal Objectives of the Charity

The Charity provides for the social, educational, recreational and individual development needs of the young people of Southwark 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 – resigned as Chair on 23[rd] May 2023 and as a Trustee on 13[th] November 2023 Nick Sansom, Chair – elected 23[rd] May 2023

Stuart Williams

Iain Clark Roxana Done George Masters Christopher Pirnie Dr Christopher Stevens Maria Vildavskaya

1

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.

2

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

It is pleasing to report that the Club has been back in full swing after the difficulties of the previous 2 years. Outside of school holidays we are getting around 450 visits per month to our various activities. We have approximately 80 individuals who attend the Club although these change on a fairly regular basis. Peckham remains a difficult area but we act as a safe place for a considerable number of people.

People

Daniel has continued to lead the Club with energy and enthusiasm. He has a strong team of assistants which include:

Jana Ikere - administration and hall hire

Desrita Mignott and Jenneave Kent on the creche Jo Lewis, Justyna Jurgonska and Natasha Vaughan as youth workers

They have all been working with Daniel for some time now.

Sadly, Rose, after a long illness, was not able to return. She had been a stalwart of the Club for well over 10 years and we wish her well for the future.

On the management front we say goodbye to Peter Gangsted as Chairman and Trustee. He had been with us for more than 10 years and provided considerable leadership over that time. Nick Sansom has taken over as Chair.

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. These are mainly group sessions but there have been lively discussions between members.

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.

Basketball has been a major success this year with some 40 people attending over the course of the year. On the football front Millwall FC continue to support us with sessions for teenagers as well as primary school aged children. They have committed to continue through this year and next. We are also linking up with the Rio Ferdinand Foundation.

3

An important improvement has been the introduction of the Club website which was finally launched in July. Amongst other things it allows us to showcase values and story of the Club and act as a crucial tool for members to keep up to date with Club matters.

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

Infrastructure and regulation

Although we were not able to proceed with the redevelopment we believe the building has a good 1015 years of life before major works may be needed. We did however do considerable work on the Sports hall floor.

There have been no incidents to report on Health and Safety and Safeguarding. We are undertaking a fundamental review of the Risk register.

Finance and Fundraising

Expenditure was broadly in line with forecasts. The one exceptional item was the work to the Sports Hall floor but this was essential. We are running through the deposit retained from the aborted redevelopment and we need to get on the front foot with additional fundraising. To that end we have retained a temporary fundraiser on a per diem basis to assist with this.

Reserves policy

The free reserves of the Charity are £ 70,378. The Charity aims to build total reserves of around £80,000 to allow the continuation of activity for about 6 months in the event of unforeseen deterioration in financial circumstances.

Summary

Activity at the Club is good and we feel we are making a strong contribution to the surrounding area by providing a safe space for a large number of individuals. The main risk for us is to regenerate our fund raising as we would like to expand our offering in the area.

4

THE BRADFIELD CLUB TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

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 12[th] November 2024 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 2024

I report on the financial statements of The Bradfield Club for the year ended 31 March 2024 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 2024

Note
Income from:
Donations and Legacies
1
Charitable activities
2
Income from other trading
activities
3
Other
4
Total Income
Expenditure on:
Raising funds
5
Charitable activities
6
Other
7
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
2024
Total
Funds
2023
£
£
£
£
16,436
0
16,436
57,598
5,000
0
5,000
14,500
22,745
0
22,745
3,550
231
0
231
167,926
44,412
0
44,412
243,574
602
0
602
0
126,896
0
126,896
**136,502 **
13,712
0
13,712
9,519
141,210
0
141,210
146,022
(96,798)
0
(96,798)
97,553
0
0
0
0
(96,798)
0
(96,798)
97,553
160,025
0
160,025
62,473
63,228
0
63,228
160,025

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 2024

Note
Fixed Assets
Tangible fixed assets
11
Current Assets
Debtors
12
Cash in bank and in hand
Current Liabilities
13
Net current assets
Provisions for liabilities
14
Total net assets
General funds
Restricted funds
Total charity funds		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Total
Funds
2023
£
£
£
£
0
0
0
9,333
0
0
0
9,333
8,350
0
8,350
1,506
62,028
0
62,028
164,578
70,378
0
70,378
166,084
7,151
0
7,151
5,250
63,228
0
63,228
160,834
0
0
0
10,141
63,228
0
63,228
160,025
63,228
0
63,228
160,025
0
0
0
0
63,228
0
63,228
160,025

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

Approved by the Club Trustees on 12[th] November 2024 and signed on its behalf by:

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

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

Trustee Trustee

8

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 2024

1. Donations and Legacies

Donations and legacies

Gifts and Donations
Bradfield College*		 Unrestricted
funds
Restricted
funds
2024
£
2023
£
16,436
0
16,436
57,598
0
0
0
0
16,436
0
16,436
57,598

2. Income from charitable activities – grants receivable

Charitable activities

Charitable activities
Seymour Foundation
Anonymous
ACN - Active Communities		 Unrestricted
funds
Restricted
funds
2024
£
2023
£
0
0
0
4,500
0
0
0
10,000
5,000
0
5,000
0
5,000
0
5,000
14,500

3. Income from other trading activities

Hall hire Unrestricted
Funds
Restricted
Funds
2024
£
2023
£
22,745
0
22,745
3,550
22,745
0
22,745
3,550

11

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Other

Bank interest
Other		 Unrestricted funds
Restricted funds
Total 2024
£
Total 2023
£
231
0
231
219
0
0
0
167,707
231
0
231
167,926

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. Raising funds

Fundraising activities Staff
expenditure
Non- staff
expenditure
Support
cost
Total 2024
£
Total 2023
£
0
602
0
602
0
0
602
0
602
0

6. Charitable activities

Youth Work
activities		 Staff
expenditure
Non- staff
expenditure
Support
cost
Total 2024
£
Total 2023
£
84,114
9,380
33,402
126,896
136,502
84,114
9,380
33,402
126,896
136,502

7. Other expenditure

Other expenditure
Hall hire
Building
development
Other
Total resources
expended		 Staff
expenditure
Non-staff
expenditure
Support cost
Total 2024
£
Total 2023
£
7,208
7,208
300
6,504
6,504
6,900
0
0
2,319
0
13,712
0
13,712
9,519
84,114
23,694
33,402
141,210
146,021

12

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8.
Support
Youth Work
activities
Total 2024
Total 2023		 costs
Staff
costs
Office
administration Premises
Governance
Total
2024
£
Total
2023
£
0
6,523
26,278
600
33,402
74,571
0
6,523
26,278
600
33,402
74,571
0
9,287
65,284
0
74,571

Office administration includes all costs related to office running.

Premises expenditure includes building maintenance, utilities and building depreciation cost.

9. Governance cost

9.
Governance cost
Independent accounts
examination
10.
Staff costs
Salaries and wages
Pensions		 2024
2023
£
£
600
300
600
0
2024
2023
£
£
82,660
58,438
1,454
0
84,114
58,438

13

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11.
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 2024
At 31 March 2023		 Car
Freehold
Property
Furniture
Fixtures &
Fittings
Total
2024
£
0
313,136
21,286
334,422
0
0
0
0
0
0
0
0
0
313,136
21,286
334,422
0
303,803
21,286
325,089
0
9,333
0
9,333
0
313,136
21,286
334,422
0
0
0
0
0
9,333
0
9,333

The net book value at 31st March 2024 represents tangible fixed assets used for direct charitable purposes.

12.
Debtors
Gift Aid
Prepayments		 2024
2023
£
£
1,499
1,506
6,851
0
8,350
1,506

Prepayments include advance payment of annual building insurance.

13.
Current Liabilities
Trade creditors
Accrued expenses		 2024
2023
£
£
6,851
5,250
300
0
7,151
5,250

14

THE BRADFIELD CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13 Provisions for Liabilities

Provisions for liabilities 2024
2023
£
£
0
10,141
0
10,141

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
2024
£
Total funds
2023
£
0
0
0
9,333
70,378
0
70,378
166,084
7,151
0
7,151
15,391
63,228
0
63,228
160,025

15 Remuneration and expenses to trustees

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

15