Charity registration number: 1166866
Bridge Church Newbury
Annual Report and Financial Statements for the Year Ended 31 December 2024
Bridge Church Newbury
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 8 |
| Statement of Trustees' Responsibilities | 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 to 20 |
Bridge Church Newbury
Reference and Administrative Details Trustees M Landreth-Smith J Clifton-Brown R Hornzee E C Owen Jones H Dabbs T Newbold Charity Registration Number 1166866 Principal Office Broadway House 4-8 The Broadway Newbury Berkshire RG14 1BA Independent Examiner UHY Ross Brooke Chartered Accountants 31A Charnham Street Hungerford Berkshire RG17 0EJ Bankers HSBC Newbury 6 Northbrook Street Newbury BERKSHIRE RG14 1DJ
Page 1
Bridge Church Newbury
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
Objectives and activities
Objects and aims
The objectives of Bridge Church Newbury for the public benefit are:
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To advance the Christian faith, in accordance with our Statement of Beliefs, in West Berkshire and in such other parts of the United Kingdom and the world as the trustees may from time to time think fit;
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The prevention or relief of poverty in West Berkshire and in such other parts of the United Kingdom and the world as the trustees may from time to time think fit; and
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To fulfill such other purposes, which are exclusively charitable according to the law of England and Wales and are connected to the charitable work of the charity as the trustees may from time to time think fit.
Page 2
Bridge Church Newbury
Trustees' Report (continued)
Objectives, strategies and activities
Activities and Achievements
Highlights of our year in 2024
• Sunday morning attendance was up slightly from 2023 at Trinity School particularly with the arrival of new young families. This means we added Bridge Mini-Kids (under 5s) to our Sunday provision which already included Bridge Kids and Bridge Youth. This year also saw many babies born.
• Mid-week Small Groups continued to be well attended with 2 new groups launching during the year in Newbury. The Online Small Group, so popular during Covid closed. We ran an Alpha Course and a Marriage Course during the year.
• The midweek Parent & Toddler group Little Steps continued meeting at St Mary’s Shaw gathering families from within the Bridge Church community. For 2025 Little Steps will continue by gathering in homes.
• The Newbury CAP Debt Centre run in partnership with St Nicolas Church with a new Debt Centre manager and Debt Coach continued to be in much demand.
• Bridge Church continued to support the West Berkshire Foodbank, COINS (Christian Outreach in Newbury Schools) and the many CTNA (Christians Together in Newbury Area) initiatives notably Street Pastors, Loose Ends and West Berkshire Homeless.
• Bridge Church ran a Week of Prayer in September which the other churches of the town joined with. This proved to be a source of great interest to local media. Mark Landreth-Smith found himself on several radio talk shows and in the local press discussing the value of prayer.
• Bridge Church continued to provide support to Ukrainian families living in West Berkshire with several attending church activities and groups.
• Tom Newbold the part-time assistant pastor became full-time in September 2024. This has made a tremendous difference to the life of the church. Tom was also appointed an elder in January 2024.
• Bridge Church supported overseas mission largely through the work of the Commission family of churches but also standing with those members of the church working for international charities including Open Doors and ISAAC International. Bridge Church was able to provide bursaries for 9 delegates to attend the ISAAC Conference in Kuala Lumpur.
• Special events in 2024 included a Bridge Church Funday with over 100 people in attendance, Bridge Youth attended The Big Church Festival and many from the church attending Commission Festival at The Royal Bath & West Showground.
• The Trustees of Bridge Church attended a Governance conference together in Bournemouth.
• 2 new Trustees were appointed: Hannah Dabbs and Tom Newbold were added as Trustees at the end of 2024.
• Visting speakers included Tim Blaber, Adrian Holloway and Natalie Williams (from Jubilee+).
We are grateful for a busy and full year of blessing.
Page 3
Bridge Church Newbury
Trustees' Report (continued)
Public benefit
It is the opinion of the trustees that Bridge Church Newbury has fulfilled its public benefit requirements for the year to 31st December 2024. The activities and achievements of the period are discussed in detail in this report. The trustees have referred to the Charity Commission’s guidance on public benefit and work to ensure that the charity operates within its objectives and makes decisions on future activities with due regard to fulfilling its public benefit requirement.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
Bridge Church’s finances are managed by the trustees and a budget was set at the start of the year and reviewed at regular trustee meetings during 2024.
Bridge Church is funded through the generosity of its regular congregation and visitors. We receive cash donations and standing orders monthly (biblical tithes) as our primary source of income. We are registered with HMRC for their Charity Repayment Scheme which gives us an additional 25p in the pound on eligible donations and provided £27,981 in additional income in the year.
Bridge Church believe in the importance of giving generously from the income we receive, encouraged by the Bible to be cheerful givers and to actively look to meet the needs of those around us. Our Family Fund and Winter Crisis Fund (a restricted fund) continued to be available to those in the church community suffering unexpected financial hardship. These funds are accessed by self-referral and managed by a group of trustees.
We tithe from our income and for 2024 gave away 14% (budgeted 14%) of our unrestricted income to Commission. A further 3% of unrestricted income was given away to support other local organisations that we have connections with and who share our charitable objectives, and to respond to individual needs in our church community. Organisations who benefited this year were West Berkshire Foodbank, West Berkshire Homeless and Christian Outreach in Newbury Schools (COINS). We also continued to support the Newbury Christians Against Poverty Debt Centre with a monthly contribution.
The trustees of Bridge Church Newbury report a surplus of £3,032 for the year to 31 December 2024.
Page 4
Bridge Church Newbury
Trustees' Report (continued)
Reserves Policy
The trustees have a Reserves Policy to ensure that funds held for future periods are sufficient to meet current obligations and our charitable objectives. These are regularly reviewed in Trustee’s meetings to ensure that they remain appropriate to the charity’s circumstances.
The following designated unrestricted funds are held by Bridge Church Newbury which can be used at the discretion of the trustees. At 31 December 2024 some funds were returned to the General fund and one was combined with another fund:
• Contingency Fund - 3 months of salary and overhead costs in the event of a shortfall in income
• Church Growth and Venue Fund (combined funds from 31 December 2024 onwards) - for church planting and future church building costs
• Family Fund - used to meet the needs of those in Bridge Church and the local community in crisis
• Youth Fund - started with a £2,000 donation from New Day (a Newfrontiers youth event) designated for youth ministry and events
• Replacement Equipment Fund - annual amount transferred to cover the cost of replacing worn out equipment
• CAP Courses Fund (closed from 31 December 2024 onwards and funds taken back into general fund) - funds donated and put aside by Bridge Church for running CAP courses (separate from the restricted fund)
• Alpha Course Fund (closed from 31 December 2024 onwards and funds taken back into general fund) - funds unused and carried forward to support future Alpha course costs
The following restricted funds represent funds that cannot be used at the discretion of the trustees:
• Christians Against Poverty (CAP) - funds donated via Bridge Church Newbury for the running of the Newbury CAP Debt Centre
• Winter Crisis Fund - funds donated specifically to help those in the church community with household bills during the cost-of-living crisis
The remaining surplus is categorised as an unrestricted fund named General Fund and can be used to cover day to day expenses and for any other purpose that the trustees see fit.
Page 5
Bridge Church Newbury
Trustees' Report (continued)
The balances on these funds at the end of 2024 are as follows:
General Fund £ 53,828
CAP Restricted Fund £ 26,848
Winter Crisis Restricted Fund £ 3,950
Designated Funds Contingency £ 40,000 Church Growth and Venue £ 29,000 Family £ 7,155 Youth £ 1,173 Replacement Equipment £ 5,257
Total Funds on 31 December 2024 £ 167,211
Plans for future periods
Aims and key objectives for future periods
Plans for 2025.
Bridge Church aims and key objectives for 2025:
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Celebrating 10 years of Bridge Church Newbury with a church family weekend away at Milton Abbey, Dorset.
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Launching 2 new small groups.
• Running a church wide Freedom in Christ course in the autumn term of 2025 and Alpha in the spring of 2025 with invitations going out to those who expressed interest in the course at our Christmas services at the end of 2024.
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Enjoying The Bridge Funday in July and taking Bridge Youth to The Big Church Festival in August.
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Employing a part-time Administrator to support our current Administrator.
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Launching Make Lunch – an initiative to provide lunches for poorer families in the community.
Page 6
Bridge Church Newbury
Trustees' Report (continued)
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
M Landreth-Smith J Clifton-Brown R Hornzee E C Owen Jones H Dabbs (appointed 5 December 2024) T Newbold (appointed 5 December 2024)
Personnel
Bridge Church employs one full time Pastor, a part-time Assistant Pastor and a part-time Administrator. All report to the Board of Trustees who review performance and salary on a regular basis. Other staff are recruited on a short-term contract basis to fulfil functions required at the time.
From 1st September 2024 our Assistant Pastor became a full-time employee of Bridge Church.
Most of our activities are led and run by volunteers: small group leaders, ministry leaders, children’s and youth workers, Communications, Sunday serving and weekday events teams. Bridge Church would not be the active and welcoming church that it is without its volunteers for whom the trustees are incredibly grateful.
Structure, governance and management
Nature of governing document
From December 2014 Bridge Church Newbury existed as an unincorporated organisation that was not registered as a charity with the Charity Commission.
On 3rd May 2016 Bridge Church Newbury was registered with the Charity Commission as a Charitable Incorporated Organisation (CIO) who's only voting members are its charity trustees. The charity is governed by its Constitution, dated 3rd May 2016.
Page 7
Bridge Church Newbury
Trustees' Report (continued)
Recruitment and appointment of trustees
Trustees:
The trustees met 6 times during 2024 for full trustees’ meetings and as required for ad-hoc decision making and communication. During 2024 our meetings were held in person. During these meetings we considered the financial position of the church, reviewed, and set policies, and supported the leadership of the church through providing effective governance and financial decision making.
Other than Mark Landreth-Smith (employed by Bridge Church Newbury since June 2015) and Tom Newbold (employed by Bridge Church since November 2023), all other trustees received no other benefits other than reimbursed expenses during the year. The constitution permits trustees to receive remuneration or payments, provided that such compensation does not apply to the majority of current trustees. In total expenses for the six trustees (and related parties) amounted to £3,207. None of these expenses related to their role as trustee but for other activities undertaken by Bridge Church during the year.
The church Eldership met regularly during the year and set the vision and mission of the church. The trustees’ role is to manage the charity’s resources to enable this vision and mission to become a reality by releasing the resources required whilst ensuring strong financial management and governance.
Organisational structure
The charity, Bridge Church Newbury, is a church. The trustees run the charity and are responsible for governance and compliance with legislation. Spiritual leadership of the church is provided by the Eldership team which includes Mark Landreth-Smith, who is also a trustee.
Bridge Church Newbury is part of an international network of churches called Commission. We share the vision and values of Commission which can be found at http://www.commission-together.org/about/our-values.aspx. Commission is part of the wider Newfrontiers family of churches.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... J Clifton-Brown Trustee
Page 8
Bridge Church Newbury
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... J Clifton-Brown Trustee
Page 9
Bridge Church Newbury
Independent Examiner's Report to the trustees of Bridge Church Newbury
I report to the trustees on my examination of the accounts of Bridge Church Newbury for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of Bridge Church Newbury 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 Bridge Church Newbury's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of Bridge Church Newbury as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Kerry Hawkins FCCA, UHY Ross Brooke Chartered Accountants
31A Charnham Street Hungerford Berkshire RG17 0EJ
Date:.............................
Page 10
Bridge Church Newbury
Statement of Financial Activities for the Year Ended 31 December 2024
| Note Income and Endowments from: Donations and legacies 2 Investment income 3 Total Income Expenditure on: Other expenditure 4 Total Expenditure Net income/(expenditure) Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Donations and legacies 2 Investment income 3 Total Income Expenditure on: Other expenditure 4 Total Expenditure Net income/(expenditure) Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds General £ Other £ 162,914 286 2,960 - 165,874 286 (163,726) (462) (163,726) (462) 2,148 (176) (5,054) 254 (2,906) 78 56,734 82,507 53,828 82,585 Unrestricted funds General £ Other £ 153,205 706 2,699 - 155,904 706 (126,654) (6,142) (126,654) (6,142) 29,250 (5,436) (15,000) 11,000 14,250 5,564 42,484 76,943 56,734 82,507 |
Restricted funds £ 29,362 - 29,362 (28,302) (28,302) 1,060 4,800 5,860 24,938 30,798 Restricted funds £ 16,484 - 16,484 (15,372) (15,372) 1,112 4,000 5,112 19,826 24,938 |
Total 2024 £ 192,562 2,960 |
|---|---|---|---|
| 195,522 | |||
| (192,490) | |||
| (192,490) | |||
| 3,032 - |
|||
| 3,032 164,179 |
|||
| 167,211 | |||
| Total 2023 £ 170,395 2,699 |
|||
| 173,094 | |||
| (148,168) | |||
| (148,168) | |||
| 24,926 - |
|||
| 24,926 139,253 |
|||
| 164,179 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14.
The notes on pages 13 to 20 form an integral part of these financial statements. Page 11
Bridge Church Newbury
(Registration number: 1166866) Balance Sheet as at 31 December 2024
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2024 £ 3,489 7,509 172,389 179,898 (16,176) 163,722 167,211 30,798 136,413 167,211 |
2023 £ 4,608 21,424 147,712 |
|---|---|---|
| 169,136 (9,565) |
||
| 159,571 | ||
| 164,179 | ||
| 24,938 139,241 |
||
| 164,179 |
The financial statements on pages 11 to 20 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
J Clifton-Brown Trustee
The notes on pages 13 to 20 form an integral part of these financial statements. Page 12
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Bridge Church Newbury meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Tangible fixed assets
Individual fixed assets costing £50.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate General equipment 25% straight line basis
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 13
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2 Income from donations and legacies
| Donations and legacies; Donations Total for 2024 Total for 2023 |
Unrestricted funds General £ Other £ 162,914 286 162,914 286 153,205 706 |
Restricted funds £ 29,362 29,362 16,484 |
Total funds £ 192,562 |
|---|---|---|---|
| 192,562 | |||
| 170,395 |
3 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Total for 2024 Total for 2023 |
Unrestricted funds General £ 2,960 2,960 2,699 |
Total funds £ 2,960 |
|---|---|---|
| 2,960 | ||
| 2,699 |
Page 14
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
4 Analysis of resources expended
| Giving and donations Sunday costs Outreach and compassion Weekday events and Church community Wages Pension Training Publicity Legal and professional Insurance Office and computer costs Depreciation and loss on Fixed Asset Accounts Independent examination Digital church |
Unrestricted funds £ Other £ 26,716 462 17,090 - 3,034 - 2,763 - 84,742 - 5,230 - 10,007 - 2,027 - 1,889 - 793 - 4,771 - 1,886 - 1,940 - 300 - 538 - 163,726 462 |
Restricted funds £ 1,050 - 27,252 - - - - - - - - - - - - 28,302 |
Total 2024 £ 28,228 17,090 30,286 2,763 84,742 5,230 10,007 2,027 1,889 793 4,771 1,886 1,940 300 538 192,490 |
Total 2023 £ 32,594 15,280 17,064 2,725 57,680 3,656 7,006 628 1,576 565 3,113 3,695 1,150 300 1,136 |
|---|---|---|---|---|
| 148,168 |
Donations include £22,790 (2023 - £21,147) to Commission.
Page 15
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
5 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
A Clarke
- £Nil (2023: £751) of expenses were reimbursed to A Clarke during the year.
M Landreth-Smith
- £2,162 (2023: £1,928) of expenses were reimbursed to M Landreth-Smith during the year.
J Clifton-Brown
- £227 (2023: £240) of expenses were reimbursed to J Clifton-Brown during the year.
R Hornzee
- £630 (2023: £198) of expenses were reimbursed to R Hornzee during the year.
S Bleasdale
- £Nil (2023: £61) of expenses were reimbursed to S Bleasdale during the year.
A Goggins
- £Nil (2023: £1,039) of expenses were reimbursed to A Goggins during the year.
E C Owen Jones
- £188 (2023: £45) of expenses were reimbursed to E C Owen Jones during the year.
6 Staff costs
The aggregate payroll costs were as follows:
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Number of employees | 2024 No 3 |
2023 No 3 |
|---|---|---|
During 2024 two of the above employees (2023 - 1) participated in the Defined Contribution Pension Scheme.
Contributions to the employee pension schemes for the year totalled £5,230 (2023 - £3,656).
During the year a salary of £47,569 (2023: £45,800) and pension of £3,806 (2023: £3,656) were paid to M Landreth-Smith for his services as church pastor, in accordance with the constitution and his employment contract.
No employee received emoluments of more than £60,000 during the year
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 16
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
8 Tangible fixed assets
| Cost At 1 January 2024 Additions Disposals At 31 December 2024 Depreciation At 1 January 2024 Charge for the year Eliminated on disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 9 Debtors Prepayments Accrued income Other debtors 10 Cash and cash equivalents Cash at bank Short-term deposits |
Furniture and equipment £ 28,333 767 (591) 28,509 23,725 1,886 (591) 25,020 3,489 4,608 2024 £ 796 5,113 1,600 7,509 2024 £ 122,389 50,000 172,389 |
Furniture and equipment £ 28,333 767 (591) 28,509 23,725 1,886 (591) 25,020 3,489 4,608 2024 £ 796 5,113 1,600 7,509 2024 £ 122,389 50,000 172,389 |
Total £ 28,333 767 (591) 28,509 23,725 1,886 (591) 25,020 3,489 4,608 2023 £ 824 19,000 1,600 |
|
|---|---|---|---|---|
| 25,020 | ||||
| 3,489 | ||||
| 4,608 | ||||
| 2024 £ 796 5,113 1,600 7,509 2024 £ 122,389 50,000 172,389 |
||||
| 21,424 | ||||
| 2023 £ 147,712 - |
||||
| 147,712 |
Page 17
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
11 Creditors: amounts falling due within one year
| Other taxation and social security Other creditors Accruals |
2024 £ 2,264 712 13,200 16,176 |
2023 £ 1,167 - 8,398 9,565 |
|---|---|---|
12 Related party transactions
Donations from the trustees and their immediate families during the year totalled £24,000. (2023 - £32,064).
Mark and his wife attended a Commission leader's event with paid accommodation (paid in Year ended 31 December 2023). Mark and his wife attended Commission Festival and their tickets were paid in full £180 (August 2024).
Caroline's daughter-in-law, Emma Owen Jones, continued as a part time Administrator (from July 2021). Any decisions regarding Emma's appointment, salary and management are done without Caroline's involvement (declaration of interest made).
All trustees attended a Commission Trustees Conference at a cost of £25 each. Travel expenses were covered by the church.
13 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds £ 3,489 149,100 (16,176) 136,413 |
Restricted funds £ - 30,798 - 30,798 |
Total funds 2024 £ 3,489 179,898 (16,176) |
|---|---|---|---|
| 167,211 |
Page 18
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
14 Funds
| Unrestricted funds General General fund Other Contingency fund Church growth fund Family fund New day gift - youth fund CAP Courses Replacement equipment fund Venue fund Alpha Course fund Total unrestricted funds Restricted funds Winter crisis fund CAP fund Total restricted funds Total funds |
Balance at 1 January 2024 £ 56,734 40,000 20,000 7,331 1,173 156 4,257 9,000 590 82,507 139,241 5,000 19,938 24,938 164,179 |
Incoming resources £ 165,875 - - 286 - - - - - 286 166,161 - 29,362 29,362 195,523 |
Resources expended £ (163,727) - - (462) - - - - - (462) (164,189) (1,050) (27,252) (28,302) (192,491) |
Transfers £ (5,054) - 9,000 - - (156) 1,000 (9,000) (590) 254 (4,800) - 4,800 4,800 - |
Balance at 31 December 2024 £ 53,828 40,000 29,000 7,155 1,173 - 5,257 - - |
|---|---|---|---|---|---|
| 82,585 | |||||
| 136,413 | |||||
| 3,950 26,848 |
|||||
| 30,798 | |||||
| 167,211 |
Page 19
Bridge Church Newbury
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
| Unrestricted funds General General fund Other Contingency fund Church growth fund Family fund New day gift - youth fund CAP Courses Replacement equipment fund Venue fund Alpha Course fund Total unrestricted funds Restricted Winter crisis fund CAP fund Total restricted funds Total funds |
Balance at 1 January 2023 £ 42,484 30,000 20,000 7,175 1,673 156 8,349 9,000 590 76,943 119,427 5,000 14,826 19,826 139,253 |
Incoming resources £ 155,904 - - 706 - - - - - 706 156,610 - 16,484 16,484 173,094 |
Resources expended £ (126,654) - - (550) (500) - (5,092) - - (6,142) (132,796) - (15,372) (15,372) (148,168) |
Transfers £ (15,000) 10,000 - - - - 1,000 - - 11,000 (4,000) - 4,000 4,000 - |
Balance at 31 December 2023 £ 56,734 40,000 20,000 7,331 1,173 156 4,257 9,000 590 |
|---|---|---|---|---|---|
| 82,507 | |||||
| 139,241 | |||||
| 5,000 19,938 |
|||||
| 24,938 | |||||
| 164,179 |
Page 20