**REGISTERED CHARITY NUMBER: 1162144**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024**
**FOR**
**THE BRIDGE GROUP**
UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
**THE BRIDGE GROUP**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 to 14|
**THE BRIDGE GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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**
## **Objectives and Activities**
- Carrying out, collating and translating research, and disseminating the useful results into how to enable people to achieve their full academic potential and to prevent them from becoming disengaged with education and learning;
- Providing advocacy, advice and information to schools, colleges, universities (and other recognised places of learning or training), employers and policy- makers to help to prevent people from becoming disengaged with education and learning, and to promote equal access to higher education, and successful progression;
- Supporting people's capabilities, competencies, skills and understanding to enable them to achieve their full academic potential to promote equal access to higher education, and successful progression.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing The Bridge Group's aims and objectives and in planning future activities. Consistent with our charitable objects, our work invariably focuses on the advancement of education and the relief of disadvantage. The trustees' definition of "disadvantaged people" is consistent with that used by academic researchers, practitioners, and as advised by government bodies including the Office for Students. More specifically, this includes:
- Those from low socio-economic groups (as identified through e.g. National Statistics Socio-Economic Classification data and eligibility for free school meals);
- Young people who live in areas of high deprivation where participation in education is significantly low (identified through IDACI, IMD, and POLAR3 indicators)
- Looked-after young people and care leavers;
We collate, commission, undertake, and analyse relevant research to provide insights and learning on social mobility, and to build the evidence base underpinning policy design and implementation. The trustees’ definition of “promoting social mobility” is used to capture the range of activities to further our charitable purposes, i.e. the relief of disadvantaged people by developing their capabilities, competences, skills and understanding to enable them to achieve their full potential.
Employing this analysis, we publish briefings and reports to influence policy and system-wide reform for the benefit of those facing disadvantage. These outputs are invariably made publicly available, and are sometimes published in partnership with other charitable organisations. In relation to this activity we have carefully studied the Charity Commission’s guidance, Research by Higher Education Institutions, and our understanding of this is referenced in greater detail in the local policies upheld by the Charity to guide its work in this area.
To support this process, we host events (e.g. policy seminars, research briefings - all online in this period) to promote understanding about the key educational issues affecting disadvantaged people, to help stakeholders understand their roles in furthering our charitable objectives, and to access a wide range of expertise. These events are open to all and the outputs from them are publicly shared via the website and the e-newsletter. We maintain an informal network of professionals through which colleagues share information, experience and good practice relating to our charitable objectives, and how they can most effectively collaborate to realise them.
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## **THE BRIDGE GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024**
We undertake non-party political activities to promote awareness of the educational inequalities facing disadvantaged young people by speaking at conferences and events, engaging with the media, and responding to requests for information, advice and guidance. In relation to this activity we have carefully studied the Charity Commission’s guidance, Speaking Out, and our understanding of this is referenced in greater detail in the local policies upheld by the charity to guide its work in this area.
## **Achievements and performance**
Our research and policy work is undertaken independently and driven by guidance from the Charity Commission. Find out more about our approach as a charity at http://www.thebridgegroup.org.uk.
Our key research themes are:
Learner progression from school and college to higher education
- University and employer outreach with schools and colleges
- Information, advice and guidance in schools and colleges, and for mature learners
- The influence of geography on access and participation
- University admissions practices
Equality of student outcomes in higher education
- Being a commuter student
- Being a mature student
- The impact of university careers services in narrowing the gap in graduate outcomes
- Employer practices for attracting and recruiting graduates
Diversity and inclusion in the workplace
- The business case for greater diversity with respect to socio-economic background
- Employer practice in attracting and hiring at all levels
- Progression, pay and performance by socio-economic background
- Employer practice in diversity and inclusion
The Bridge Group conducts all research in accordance with our ethics policy. Data gathered through our research is managed and stored in accordance with our data security and confidentiality policy. The Bridge Group has been awarded the Cyber Essentials and Cyber Essentials Plus certification.
During this reporting period, the Charity has achieved the following highlights:
- Trustees, working with the CEO and Bridge Group team finalised a new strategy for the period Aug 2024 – Aug 2026. The priorities are: growing philanthropy; developing strategic partnerships; and measuring and communicating impact. This has been translated into our annual budget (approved by Trustees), our annual operational plan and risk register.
- In April 2024, we published our Impact Report. It includes case studies from a selection of clients: the Sutton Trust, Progress Together, the Social Mobility Foundation, and the Civil Service Fast Stream. We look at how we have driven impact through regulatory practice and how we have equipped and supported employers such as Slaughter and May and KPMG. It highlights that during January 2020 - December 2023 we have advised 133 organisations, analysed 22 million datapoints and undertaken more than 630 interviews. It also showed that of the 1010 people who have joined our (free to attend) events, 96% said attendance will impact positively on their practices.
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**THE BRIDGE GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024**
- We published pioneering guidance, with the Social Mobility Foundation, on how to measure and close the ‘class pay gap’. The guidance follows the established best practices in reporting gender pay gaps, but with recommendations tailored to socio-economic background. The guide includes examples of best practice from organisations that measure their class pay gap, and precisely describes the steps that need to be taken to calculate a class pay gap.
- Our study for the Cabinet Office investigates the experiences of Fast Stream trainees, focusing on socio-economic background diversity, progression, and career outcomes. This research builds on findings from our 2016 report and will provide insights into the barriers and opportunities for social mobility within the program.
- In partnership with Linklaters, we have developed a groundbreaking global social mobility strategy for the legal sector. The project includes analysing workforce data, performance metrics, and conducting interviews with employees across various levels of seniority.
- This year’s Progress Together data analysis included 34 financial services firms, representing 200,000 employees, focusing on SEB diversity and progression patterns. It explored intersections between SEB, gender, and ethnicity, offering valuable insights into firm-specific and industry-wide trends. The report, to be published in September 2024, is expected to drive further engagement from financial institutions eager to enhance inclusion efforts.
- The JLL Foundation commissioned the Bridge Group to revisit socio-economic background diversity in the real estate sector, involving ten leading firms that participated in previous research. The project includes data-sharing, analysis, and identifying best practices for fostering inclusion. Findings will be published in February 2025, providing a benchmark for SEB diversity in real estate and encouraging cross-sector collaboration.
- Our work with Morgan Stanley focused on collecting and analysing socio-economic data for its UK workforce. Achieving a 66% response rate in the first data collection exercise, the results were presented at senior executive meetings. This collaboration sets a precedent for U.S.-based firms and is expected to inform future work with other large corporations, reinforcing our expertise in advising global firms on SEB matters.
- Our Retail and Logistics report, commissioned by Amazon UK and focused on social mobility within these sectors, was launched in October 2023. This study identifies how companies in these industries can enhance social mobility and improve inclusion practices. The report's insights have sparked discussions about establishing a consortium, similar to Progress Together, to drive ongoing improvements in these sectors.
- The evaluation of the Sutton Trust’s 2022-23 Pathways and UK Summer Schools programs marked a successful partnership. Three concise reports were submitted, and the Trust is now reviewing its evaluation process.
- London Business School research
- Launch of SIGN
- Our work with Slaughter and May involved detailed analysis of hiring, progression, and retention data, leading to the publication of their socio-economic background targets in July 2023. This was the first law firm globally to publicly commit to such targets. The project sparked widespread interest in the legal sector, with other firms approaching the Bridge Group for advisory services on setting similar targets, further solidifying its influence in advancing SEB diversity.
- We continued our central role in Access Accountancy, completing an analysis of work experience programs and entry-level hiring data across the sector. The annual report, launched in October 2023, provides a critical overview of SEB diversity at different career stages and progression rates.
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**THE BRIDGE GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024**
## **FINANCIAL REVIEW**
## **Principal funding sources**
The Charity's principal sources of funds in this period are from commissioned research, analysis and advice, with revenue received from:
- Access Accountancy
- Amazon
- The Association of Accounting Technicians
- AXA
- The Cabinet Office
- Clifford Chance
- Diageo
- Keble College, Oxford
- KPMG
- Linklaters
- London Business School
- Milbank LLP
- Morgan Stanley
- Nationwide
- Progress Together
- Slaughter & May
- Social Mobility Foundation
- The Sutton Trust
## **Reserves policy**
The trustees' policy is to build up unrestricted funds to represent at least three months' running costs, planning for adverse economic conditions and other potential threats, safeguarding the long-term future of the Charity.
At 31 July 2024, the reserves of the Charity not attached to restricted or designated funds, stood at £166,945.
Four months' running costs for the Charity, including the payroll costs of staff delivering paid commissioned work, were in the region of £114,000 net of VAT. The trustees have considered all available information at the date of approving the accounts and consider that the charity is a going concern.
## **Funds in deficit**
There are no funds in deficit.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
Constitution
## **Charity constitution**
Charitable Incorporated Organisation
## **Recruitment and appointment of new trustees**
Appointed by current Board members by nomination and majority vote, driven by the Charity’s needs with respect to experience and skills.
## **Decision making**
The trustees determine the strategic direction of the Charity and delegate responsibility for the day-to-day management and operations to the Chief Executive and the senior team. The Board meets on a quarterly basis to review the Charity's performance, consider reports from the Chief Executive, and to decide other matters of policy.
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## **THE BRIDGE GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Induction and training of new trustees**
New trustees undergo a thorough induction into the workings of the Charity.
## **Risk management**
The trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1162144
## **Principal address**
C/o University of London Senate House Malet Street London WC1E 7HU
## **Trustees**
Hephzibah Ayomide Adeosun – Trustee, Chair Deb Conner - Trustee Andre Flemmings - Trustee Jude Heaton - Trustee Timothy John Smith - Trustee Ann Easwary Swampillai - Trustee Andrea Rose Waugh - Trustee Laura Kate Alyssa Yeates – Trustee
## **Independent Examiner**
Hayden Priest UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
Approved by order of the board of trustees on 14 March 2025 and signed on its behalf by:
Hephzibah Adeosun - Trustee
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**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRIDGE GROUP**
## **Independent examiner's report to the trustees of The Bridge Group**
I report to the charity trustees on my examination of the accounts of The Bridge Group (the Charity) for the year ended 31 July 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts to be reached.
Hayden Priest The Institute of Chartered Accountants in England and Wales
UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
Date: 18 March 2025
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**THE BRIDGE GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024**
|**2024**
**Unrestricted**
**fund**
Notes
**£**
**Charitable activities**
Research
**465,318**
**Total**
**465,318**
**EXPENDITURE ON**
**Charitable activities**
3
Research
**359,027**
**NET INCOME/(EXPENDITURE)**
**106,291**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**60,654**
**TOTAL FUNDS CARRIED FORWARD**
**166,945**|2023
Total
funds
£
338,690
338,690
366,579
(27,889)
88,543
60,654|
|---|---|
The notes form part of these financial statements
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## **THE BRIDGE GROUP**
## **BALANCE SHEET 31 JULY 2024**
|**2024**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
8
**3,332**
**CURRENT ASSETS**
Debtors
9
**41,362**
Cash at bank
**143,595**
**184,957**
**CREDITORS**
Amounts falling due within one year
10
**(21,344)**
**NET CURRENT ASSETS**
**163,613**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**166,945**
**NET ASSETS/(LIABILITIES)**
**166,945**
**FUNDS**
11
Unrestricted funds
**166,945**
**TOTAL FUNDS**
**166,945**|2023
Total
funds
£
3,410
62,670
30,573
93,243
(35,999)
57,244
60,654
60,654
60,654
60,654|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 March 2025 and were signed on its behalf by:
Hephzibah Adeosun - Trustee
The notes form part of these financial statements
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**THE BRIDGE GROUP**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024**
## **1. STATUTORY INFORMATION**
The Bridge Group is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission for England and Wales and governed by its constitution. Details of the charity's operations and principal activities are given in the Trustees' Report.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Invoices for commissioned work are raised once the work is completed. The charitable activity of research on the face of the SoFA comprises commissioned research, analysis, and advice in relation to the objectives of the charity.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Fixed assets are measured at cost less depreciation.
Computer equipment - 25% Reducing balance basis.
## **Taxation**
The Charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The charity had no restricted funds during the year ended 31 July 2024 nor in the preceding year.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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**THE BRIDGE GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024**
## **3. CHARITABLE ACTIVITIES COSTS**
|Support
Direct
costs (see
Costs
note 3)
£
£
Research
**242,263**
**116,764**
**4.**
**SUPPORT COSTS**
Office
Fixed asset loss & Governance
overheads
Depreciation
costs
£
£
£
Research
**105,700**
**1,649**
**9,415**
Support costs, included in the above, are as follows:
**Office overheads**
**2024**
Research
**£**
Wages
**85,870**
Social security
**3,125**
Pensions
**1,351**
Insurance
**1,449**
Travel and subsistence
**6,173**
Computer expenses
**4,883**
Venue Hire
**1,449**
Recruitment
**1,125**
Loss on foreign exchange
**112**
Postage and stationery
**163**
**105,700**
**Depreciation and Loss on sale of tangible fixed assets**
**2024**
Research
**£**
Depreciation of tangible fixed assets
**1,000**
Loss on sale of tangible fixed assets
**649**
**1,649**|Totals
£
**359,027**
Totals
£
**116,764**
2023
Total
activities
£
70,247
6,526
1,467
1,915
1,753
2,243
-
-
-
-
84,151
2023
Total
activities
£
917
-
917|
|---|---|
continued...
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**THE BRIDGE GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024**
## **4. SUPPORT COSTS - continued Governance costs**
|**SUPPORT COSTS - continued**
**Governance costs**|||
|---|---|---|
||**2024**|2023|
|||Total|
||Research|activities|
||**£**|£|
|Independent examiner's fees|**1,200**|2,100|
|Accountancy fees|**1,000**|860|
|Professional fees|**7,215**|11,443|
||**9,415**|14,403|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
## **6. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**2024**
**£**
**283,558**
**31,246**
**4,823**|2023
£
290,493
34,838
6,298|
|---|---|---|
||**319,627**|331,629|
The key management personnel of the charity comprise Penelope Jane Griffin, Nicholas Miller and Bonita Edwards. The total remuneration of the key management personnel, inclusive of pension and employer social security costs, was £147,048 (2023: £137,502).
The average monthly number of employees during the year was as follows:
||**2024**|2023|
|---|---|---|
|Average number of employees|**9**|9|
No employees received emoluments in excess of £60,000.
continued...
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**THE BRIDGE GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024**
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||**Charitable activities**||
||Research|338,690|
||**Total**|338,690|
||**EXPENDITURE ON**||
||**Charitable activities**||
||Research|366,579|
||**NET INCOME/(EXPENDITURE)**|(27,889)|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|88,543|
||**TOTAL FUNDS CARRIED FORWARD**|60,654|
|**8.**|**TANGIBLE FIXED ASSETS**||
|||Computer|
|||equipment|
|||£|
||**COST**||
||At 1 August 2023|**6,957**|
||Additions|**1,601**|
||Disposals|**(1,757)**|
||At 31 July 2024|**6,801**|
||**DEPRECIATION**||
||At 1 August 2023|**3,547**|
||Charge for year|**1,000**|
||Eliminated on disposal|**(1,078)**|
||At 31 July 2024|**3,469**|
||**NET BOOK VALUE**||
||At 31 July 2024|**3,332**|
||At 31 July 2023|3,410|
continued...
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**THE BRIDGE GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024**
|**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.23
£
**60,654**
**60,654**
Incoming
resources
£
**465,318**
**465,318**|**2024**
2023
**£**
£
**41,362**
62,670
**2024**
2023
**£**
£
**1,138**
-
**17,098**
31,723
**3,108**
4,276
**21,344**
35,999
Net
movement
At
in funds
31.7.24
£
£
**106,291**
**166,945**
**106,291**
**166,945**
Resources
Movement
expended
in funds
£
£
**(359,027)**
**106,291**
**(359,027)**
**106,291**|
|---|---|---|
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.8.22|in funds|31.7.23|
||£|£|£|
|**Unrestricted funds**||||
|General fund|88,543|(27,889)|60,654|
|**TOTAL FUNDS**|88,543|(27,889)|60,654|
continued...
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**THE BRIDGE GROUP**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
338,690
338,690|Resources
Movement
expended
in funds
£
£
(366,579)
(27,889)
(366,579)
(27,889)|
|---|---|---|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 July 2024 nor the year ended 31 July 2023.
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