Charity registration number 1162113
BROMLEY BRIGHTER BEGINNINGS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
BROMLEY BRIGHTER BEGINNINGS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees E Martin N Lengthorn L Freeman C Jethwani J Kench E Warren E Fiz Querol (Appointed 7 October 2023) K Rawley Charity number 1162113 Independent examiner Louise Hallsworth, FCA Baxter & Co Chartered Accountants Lynwood House, Crofton Road Orpington Kent BR6 8QE
BROMLEY BRIGHTER BEGINNINGS
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
BROMLEY BRIGHTER BEGINNINGS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report and financial statements for the year ended 31 July 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Declaration of Trust dated 5th September 2014 (and subsequent amendments), the Charities Act 2011 and "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)" (effective 1 January 2019).
Objectives and activities
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
Financial review
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Charity is a charitable trust governed by the Declaration of Trust dated 5th September 2014 (and subsequent amendments).
The Trustees who served during the year and up to the date of signature of the financial statements were:
E Martin
N Lengthorn L Freeman C Jethwani J Kench E Warren E Fiz Querol (Appointed 7 October 2023) K Rawley
Recruitment and appointment of trustees
Appointments have all been made either in the original governing documents, or by subsequent resolution of trustees at a special meeting in accordance with clause 9 of the original governing document.
None of the Trustees has any beneficial interest in the charity.
The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The charity's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the charity's contractual and other legal obligations.
Creditors of the charity at the year end were £1,259.
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BROMLEY BRIGHTER BEGINNINGS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 The Trustees, report was approved by the Board of Trttslees. C Jethwani Treasurer dTr Dale..
BROMLEY BRIGHTER BEGINNINGS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BROMLEY BRIGHTER BEGINNINGS
I report to the Trustees on my examination of the financial statements of Bromley Brighter Beginnings (the Charity) for the year ended 31 July 2024.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Louise Hallsworth, FCA
Baxter & Co Chartered Accountants 1 Vicarage Lane Stratford London E15 4HF
15 November 2024 Dated: .........................
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BROMLEY BRIGHTER BEGINNINGS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 2 65,597 172,516 Total income 65,597 172,516 Expenditure on: Charitable activities 3 130,301 138,051 Total expenditure 130,301 138,051 Net income/(expenditure) and movement in funds (64,704) 34,465 Reconciliation of funds: Fund balances at 1 August 2023 102,541 21,073 Fund balances at 31 July 2024 37,837 55,538 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 238,113 93,680 108,814 238,113 93,680 108,814 268,352 54,694 97,362 268,352 54,694 97,362 (30,239) 38,986 11,452 123,614 63,555 9,621 93,375 102,541 21,073 |
Total 2023 £ 202,494 |
|---|---|---|
| 202,494 152,056 |
||
| 152,056 | ||
| 50,438 73,176 |
||
| 123,614 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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BROMLEY BRIGHTER BEGINNINGS BALANCE SHEET AS AT31 JULY2024 2024 2023 Notes Current ass•ts Oeblors Cash at bank and in har 2.017 92.617 1.403 123.211 94.634 124,614 Credltors: amounts falling duo within on• yèar 10 {1.2591 (1.Cx)01 Net current assets 93.375 123.614 The funds ol thg Chartty Restricted income ftjnds Unrestricte¢J lur¥Js 11 12 55.538 37,837 21.073 102.541 93.375 123.614 The finanoal siaiements were approved by TILJSt&s on . 202 C Jelhwani Tr•asurer a dTru
BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1 Accounting policies
Charity information
Bromley Brighter Beginnings is a registered charity in England and Wales (charity number 1162113).
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, and the Charities SORP "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)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of contracted hours, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
2 Donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 63,397 17,147 Grants 2,200 155,369 65,597 172,516 Donations and gifts Direct donations to BBB 24,631 13,704 Just giving / general 28,615 3,443 Paypal / Facebook / Amazon / Collection boxes etc. 10,151 - Bed for every child - - Hampers - - Healthy homes - - School uniform - - 63,397 17,147 Grants receivable for core activities Bed for every child - 79,875 Hampers - 500 Healthy homes - 16,500 School uniform - 3,162 Newborn hampers - - Crisis support - 10,100 Employee - 15,000 NL EEE's related & Storage - 30,232 General 2,200 - Other - - 2,200 155,369 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 80,544 86,680 23,564 157,569 7,000 85,250 238,113 93,680 108,814 38,335 38,733 - 32,058 43,373 - 10,151 4,574 - - - 1,764 - - 19,672 - - 1,325 - - 803 80,544 86,680 23,564 79,875 - 51,500 500 - 3,500 16,500 - 10,000 3,162 - 3,500 - - 3,000 10,100 - 5,750 15,000 - 8,000 30,232 - - 2,200 - - - 7,000 - 157,569 7,000 85,250 |
Total 2023 £ 110,244 92,250 |
|---|---|---|
| 202,494 | ||
| 38,733 43,373 4,574 1,764 19,672 1,325 803 |
||
| 110,244 | ||
| 51,500 3,500 10,000 3,500 3,000 5,750 8,000 - - 7,000 |
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| 92,250 |
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
3 Expenditure on charitable activities
| Charitable | Charitable | |
|---|---|---|
| activities | activities | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Staff costs | 27,477 | 5,293 |
| BFEC | 78,770 | 66,578 |
| School Uniform | 39,827 | 24,833 |
| Xmas Hamper | 36,320 | 17,600 |
| Healthy Homes | 30,356 | 21,186 |
| General Referral | 16,047 | 6,334 |
| Crisis Support | 11,839 | 757 |
| Newborn Pack | 4,720 | 3,123 |
| 245,356 | 145,704 | |
| Share of support and governance costs (see note 4) | ||
| Support | 21,796 | 5,352 |
| Governance | 1,200 | 1,000 |
| 268,352 | 152,056 | |
| Analysis by fund | ||
| Unrestricted funds | 130,301 | 54,694 |
| Restricted funds | 138,051 | 97,362 |
| 268,352 | 152,056 | |
| Support costs allocated to activities | ||
| 2024 | 2023 | |
| £ | £ | |
| Running costs | 21,007 | 4,311 |
| Team Development | 666 | 268 |
| Advertising | 123 | 773 |
| Governance costs | 1,200 | 1,000 |
| 22,996 | 6,352 | |
| Analysed between: | ||
| Charitable activities | 22,996 | 6,352 |
4 Support costs allocated to activities
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
| 5 | Net movement in funds | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 1,200 | 1,000 |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
7 Employees
The number of employees at the year end was:
| The number of employees at the year end was: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| 3 | 2 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 27,477 | 5,293 |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Accruals and deferred income |
2024 £ 1 2,016 2,017 2024 £ 1,259 |
2023 £ - 1,403 |
|---|---|---|
| 1,403 | ||
| 2023 £ 1,000 |
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
11 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| BFEC Fund | 5,123 | 92,384 | (59,609) | 37,898 |
| Crisis Support | 5,443 | 10,100 | (11,839) | 3,704 |
| GM Salary only Fund | 4,224 | 15,000 | (16,817) | 2,407 |
| Healthy Home Fund | - | 16,907 | (16,907) | - |
| New Born Pack | 700 | - | (700) | - |
| NL EEEs + Storage Fund | - | 30,232 | (18,703) | 11,529 |
| School Uniform Fund | - | 4,538 | (4,538) | - |
| Xmas Hamper Fund | 5,583 | 3,355 | (8,938) | - |
| 21,073 | 172,516 | (138,051) | 55,538 | |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| 9,621 | 108,814 | (97,362) | 21,073 |
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 102,541 | 65,597 | (130,301) | 37,837 |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 63,555 | 93,680 | (54,694) | 102,541 |
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BROMLEY BRIGHTER BEGINNINGS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
13 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2024 2024 £ £ At 31 July 2024: Current assets/(liabilities) 37,837 55,538 37,837 55,538 Unrestricted Restricted funds funds 2023 2023 £ £ At 31 July 2023: Current assets/(liabilities) 102,541 21,073 102,541 21,073 |
Total 2024 £ 93,375 |
|---|---|
| 93,375 | |
| Total 2023 £ 123,614 |
|
| 123,614 |
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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