BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
Charity Registration No. 1167959
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
REFERENCE AND ADMINISTRATIVE INFORMATION
| Trustees | Ralph Power – chair |
|---|---|
| Mike Forrest - treasurer | |
| Alison Simmonds - secretary | |
| Jude Archer – membership secretary | |
| Hilda Ball | |
| Caroline Drugan | |
| Joanna Galpin | |
| Stuart King | |
| Sue O’Hara | |
| Phil Seymour | |
| Club manager | Stephen Royal |
| Charity number | 1167959 |
| Principal address | 99 Oldfield Road |
| Hotwells | |
| Bristol | |
| BS8 4QQ | |
| Registered office | 99 Oldfield Road |
| Hotwells | |
| Bristol | |
| BS8 4QQ | |
| Bankers | National Westminster Bank PLC |
| 40 Queen’s Road | |
| Bristol | |
| BS8 1BF | |
| Independent examiners | Adams Root & Associates Limited |
| Chartered Accountants | |
| 86 Shirehampton Road | |
| Stoke Bishop | |
| Bristol | |
| BS9 2DR |
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
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CONTENTS
Page
Trustees' report 4 – 7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts 11 – 15
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and accounts for the year ended 31 March 2021.
These comply with the Charities Act 2011, the constitution of the organisation, 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).
Chair’s Report
I am pleased to be presenting the charity’s fifth Trustees’ Report and Financial Statements. They continue to show a very secure financial position for which we should thank both those members who helped to finance the purchase of the club’s premises, and treasurers past and present who have ensured the continued strong stewardship of the clubs assets.
As I reported last year we would usually reporting on the past year, giving you some insight to how active the club has been over the past twelve months and outlining some of the things we are looking forward to in the coming year.
However, when we held last year’s AGM (via Zoom) I doubt that any of us envisaged for how long we would be in the grip of the pandemic. We shut our door at the club on 16[th] March, and as I write these words, we are at last contemplating a plan to reopen the club in accordance with the government’s “road map”.
Nevertheless, there has been a lot of activity going on in the background. On the financial side, we applied for and received a grant of £10,000 from the government’s support for the restaurants, hospitality and leisure sector, and have since received further government grants from Bristol City Council designed to support organisations during the periods of lockdown. We have also made use of the government’s Job Protection Scheme, by placing almost all of our staff on furlough, so that they can continue to be paid, at little cost to the club. Now that the chancellor has announced the winding down of the scheme the Board of trustees will be considering what the club should do beyond the end of June, when some of the costs of continuing our staff’s employment will fall on the club.
At the same time as securing the financial health of the club, we have also been trying to make sure that members and others continue to have the opportunity to play bridge. To achieve that we have signed Bristol Bridge Club up as a virtual bridge club with Bridge Base On-line, running three of our usual duplicate sessions every week. In addition, we have engaged with a UK provider of on-line bridge, RealBridge, which has also been popular with members and guests.
We are all looking forward to the time when easing of the lockdown will enable us to return to playing bridge face to face, when we can continue to develop some of the initiatives that currently remain in the pipeline.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Our purposes and activities
The purpose of the charity is the advancement of amateur sport by promoting the game of bridge for the benefit of the residents of Bristol and the surrounding area.
This we do by providing a venue for the teaching and playing of bridge, both for members and visitors, and by arranging tuition for all who wish to learn to play bridge, or to improve their knowledge and practice of the game. The club also organises at least eight playing sessions every week at the club.
Financial review
It is not easy to review the finances of the club by comparison with previous years, but, overall, the accounts show a very secure position following a year in which, roughly speaking, the club broke even. At 31 March, we had cash and bank balances in excess of £86,000 with liabilities of less than £12,000 and our free reserves stand at £77,000. That is close to two years of overheads for the club. When trustees last considered the appropriate level of reserves that the club should carry, they decided that reserves approximating to half of annual overheads plus a quarter of the charity’s other regular outgoings should be sufficient to maintain the financial health of the organisation. This suggests a required reserves level of about £35,000, so the finances of club are currently in a fairly strong position.
The various government grants available to the club referred to in the Chair’s report have secured the club’s finances during this difficult time
In summary, bridge activities (playing, competitions and tuition) have delivered a small loss of £1,972 for the year (2020 surplus - £22,341). In addition, a significant proportion of our members continued to support us and their subscriptions, combined with government grants, lifted the club’s financial surplus to £12,005 even after the cost of writing off the bar stocks, which we were unable to use.
The overheads of the charity totalled £45,692 (2020 - £33,865). The increase was caused by staff costs, which were supported by furlough claims of £33,103.
The net assets have increased to about £850,000. £750,000 of these assets represents the premises, which are included at the latest valuation the club had commissioned. The remaining net assets include a further £10,319 relating to the investments which support the Bob Curtis Fund. These investments supporting the Bob Curtis Fund showed an outstanding performance, increasing in value by 28% during year, after showing a very small loss in the previous year.
Independent examiners
The charity’s independent examiners are Adams Root & Associates Limited. This firm has indicated its willingness to be reappointed at the forthcoming AGM.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Structure, governance and management
The trustees are responsible for the financial and operational security of the charity, as set out in the constitution. The constitution requires that the charity has between 5 and 10 trustees at any one time.
The current trustees are listed on page 2. Jude Archer and Stuart King became trustees at the AGM held on 1 July 2020, at which time David Jones and Jan Luton stood down as trustees.
All of the other present trustees have served on the Board for the whole year.
Plans for the future
Most of the plans that were beginning to take shape at the club remain “on hold”, as a result of the Covd-19 lock down and social distancing. Some members have been encouraged to play via the various on-line bridge websites, and trustees have worked hard to make that a reality even for those members less at ease with the technology required. There are leagues running for some of our more serious players, and our virtual club, facilitated by the website Bridge Base on-line.
We still plan to introduce the collection of table money and bar purchases via contactless and/or PIN authorised credit and debit cards, but of course this will not be needed until the club can open again. We will also continue to open up the club for more social bridge (when we can) extending the sessions that had only just begun, on Wednesday evenings and Saturday mornings. We had just extended the lessons available for different standards of player, and whereas that is also currently on hold, we intend to investigate how we might continue to offer lessons on-line.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Trustees’ responsibilities
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).
Charity law requires the charity 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 its incoming resources and application of resources, including income and expenditure, of the charity for that period. In preparing those 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 UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the accounts 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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011. 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.
In so far as the trustees are aware at the time of approving our trustees’ annual report:
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there is no relevant information, being information needed by the independent examiner in connection preparing their report, of which the examiner is unaware, and
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the trustees, having made enquiries of fellow trustees and the examiner that they ought to have individually take, have each taken all steps that he/she is obliged to take as a trustee in order to make themselves aware of any relevant information and to establish that the examiner is aware of that information.
By order of the board of trustees
Ralph Power (Chair)
2[nd] June 2021
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
We report on the accounts of the charity for the year ended 31 March 2021, which are set out on pages 10 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to our attention.
Basis of independent examiner’s report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention:
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which gives us reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
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have not been met;
or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adams Root & Associates Limited
Date: June 2021
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2021
| Incoming resources from generated funds Voluntary income 2 Investment income – Unrealised (losses)/gains 12 Interest Activities in furtherance of the charity's objectives 3 Total incoming resources Resources expended Charitable activities - costs in furtherance of the charity's objectives 4 Net income for the year Fund balances at 1 April 2020 Total funds carried forward at 31 March 2021 |
Unrestricted funds Restricted funds 2021 2020 £ £ £ £ 59,123 - 59,123 13,284 - 2,297 2,297 (46) 1,199 - 1,199 109 |
|---|---|
| 60,322 2,297 62,619 13,347 9,434 - 9,434 90,733 |
|
| 69,756 2,297 72,053 104,080 |
|
| 60,048 - 60,048 105,376 |
|
| 9,708 2,297 12,005 (1,296) |
|
| 823,572 8,022 831,594 832,890 833,280 10,319 843,599 831,594 |
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
BALANCE SHEET
| 31 MARCH 2021 Notes Fixed Assets Tangible assets 10 Current Assets Stocks 1.5 Investments 11 Debtors and prepayments Cash Creditors: amounts falling due in less than one year 12 Net current assets Net assets Income Funds Restricted funds 13 Revaluation reserve 14 Unrestricted funds |
2021 2020 £ £ 756,510 759,166 |
|---|---|
| - 3,000 10,319 8,022 2,180 1,663 86,185 77,324 |
|
| 98,684 90,009 (11,595) (17,581) |
|
| 87,089 72,428 |
|
| 843,599 831,594 |
|
| 10,319 8,022 275,595 275,595 557,685 547,977 843,599 831,594 |
The accounts were approved by the board of trustees on 2[nd] June 2021
Ralph Power - Chair Trustee
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS
31 MARCH 2021
1 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation relating to uncertainty in the preparation of the accounts are as follows:
1.1 Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.
Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
1.2 Incoming resources
Subscriptions from members are spread over the period to which they relate.
Investment income is accounted for on a receivable basis.
Other Incoming resources are also included in the Statement of Financial Activities on a receivable basis.
1.3 Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT. VAT recovered via the flat rate scheme is added to the relevant income.
1.4 Tangible fixed assets and depreciation
As referred to in note 10, the property has been revalued. It is the view of the trustees that most of the value of the property is the freehold land, and therefore have decided that depreciation is inappropriate.
The charity does not have a specific value above which capital expenditure is capitalised. Tangible fixed assets capitalised are those deemed to be for long term use by the charity.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows;
Freehold premises nil Fixtures and fittings 6% per annum Equipment 20% - 33% per annum
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2021
1.5 Stock
Stock is valued at the lower of cost and net realisable value. Because of the closure of the club for over a year, the net realisable value of stock has been assessed at £nil.
1.6 Accumulated funds
Unrestricted funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.
| 2 Voluntary income Members’ subscriptions and small donations Coronavirus Job Protection Scheme grants Bristol City Council small business grant Bristol City Council local restrictions grants |
2021 2020 £ £ 5,148 13,284 33,103 - 10,000 - 10,872 - 59,123 13.284 |
|---|---|
| 3 Activities in furtherance of the charity's objectives Bridge play Bar and refreshments Tuition (refunds only in 2021) 4 Total resources expended Staff Deprec’n Other £ £ Bridge play 5,355 266 5,735 Bar and catering - - 3,000 Tuition - - - Events - - - Overheads 34,390 2,388 8,914 39,745 2,654 17,649 |
3 Activities in furtherance of the charity's objectives Bridge play Bar and refreshments Tuition (refunds only in 2021) 4 Total resources expended Staff Deprec’n Other £ £ Bridge play 5,355 266 5,735 Bar and catering - - 3,000 Tuition - - - Events - - - Overheads 34,390 2,388 8,914 39,745 2,654 17,649 |
2021 2020 £ £ 10,949 60,665 - 22,448 (1,515) 7,620 9,434 90,733 |
|---|---|---|
| 2021 2020 Total Total £ £ 11,406 38,135 3,000 25,567 - 5,900 - 1,909 45,692 33,865 |
||
| 39,745 2,654 17,649 |
60,048 105,376 |
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2021
| 5 Bridge play – other costs Pay to play – payable to English Bridge Union Bridge supplies Computing and printing Prizes and entry fees Engraving and signwriting Telephone and broadband Other 6 Overheads – other costs Council tax and water rates Insurance Heat, light and power Cleaning Repairs and maintenance Accountancy Waste disposal Security Training Trustees’ expenses Other |
2021 2020 £ £ 2,253 7,276 - 661 447 767 317 2,205 30 292 932 918 2,103 1,429 5,735 13,672 |
|---|---|
| 2021 2020 £ £ - 1,781 2,297 1,968 1,705 4,937 1,976 8,152 - 9,207 300 300 - 2,100 1,947 1,755 - 411 - 167 689 868 8,914 31,748 |
7 Employees
Number of employees
During the year the charity employed an average of 12 staff (2020 – 12). The club manager and catering manager are part-time, the remainder are casual workers. All but four of these employees were on furlough for the whole of 2020-21.
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 39,745 | 45,971 |
The cost of wages and salaries includes £231 (2020 - £285) in respect of employer pension contributions.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2021
8 Trustees
Two trustees received payment for running some of the charity’s playing sessions, and one trustee runs bridge lessons for members and others. This is work additional to their trustee responsibilities and they are paid at the same rate as others who run similar sessions.
9 Taxation
The charity’s activities during the year were in accordance with its charitable objects and no corporation tax liability arises.
10 Tangible fixed assets
| Cost or valuation At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Equipment Freehold premises £ 13,262 750,000 - - |
|---|---|
| 13,262 750,000 |
|
| 4,096 750,000 2,654 - |
|
| 6,750 750,000 |
|
| 6,510 750,000 |
|
| 9,166 750,000 |
The property was revalued by Messrs. Maggs & Allen, Property Consultants on 20 December 2017.
11 Investments
| At 1 April 2020 Disposals Unrealised gains/(losses) At 31 March 2021 |
2021 2020 £ £ 8,022 10,965 - 2,900 2,297 (43) 10,319 8,022 |
|---|---|
The investments (and the associated restricted fund – see note 13) have been included at market value.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2021
| 12 Creditors: amounts falling due within one year Taxes and social security costs Pension contributions Income in advance Other creditors and accruals |
2021 2020 £ £ 1,562 4,507 43 54 5,770 8,082 3,390 7,517 10,765 21,089 |
|---|---|
13 Restricted funds
| Incoming | Resources | ||||
|---|---|---|---|---|---|
| 1 | April 2020 | resources | expended | 31 March 2021 | |
| £ | £ | £ | £ | ||
| Bob Curtis Fund | 8,022 | 2,297 | - | 10,319 |
The Bob Curtis Fund resulted from a donation by Bob Curtis to support future Curtis Cup competitions, which he initiated in an attempt to bring together the stronger and weaker players within the club to play in the same competition. He asked three members of the club to oversee both the investments (in the choice of which he was involved) and the way that the club proposed to spend his gift.
The Fund continues to be supported by the investments which were made from gifts made during his lifetime (see note 11).
14. Designated reserves
The Trustees have adopted a revaluation policy for the freehold premises. This valuation of £750,000 has resulted in a designated unrestricted fund of £275,595.
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