BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
Charity Registration No. 1167959
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees Ralph Power – chair Mike Forrest - treasurer Stuart King - secretary Hilda Ball Caroline Drugan Joanna Galpin 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 ARA (Bristol) Ltd t/as Adams Root & Associates 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 2022
The trustees present their report and accounts for the year ended 31 March 2022.
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 sixth 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 club’s assets.
At the beginning of last year, we switched from the American BBO platform to the innovative RealBridge platform so that at least we could see and talk to our fellow players without resorting to using our phones next to our computers at home.
In September we took the decision to reopen the club and return to running our bridge sessions live and face to face. This was a difficult decision, as it was by no means clear whether players were ready to return to face-to-face bridge. So, although I was optimistic that I would be celebrating the club’s return to rude health in this report, regrettably, the pandemic has continued to have an adverse effect on the operations of the club. We are at least open, members are renewing their subscriptions and our courses are attracting people to come and give our game a try. However, we are struggling to build up attendance to past levels, as many members are still concerned about the presence of Covid and prefer to continue their bridge on-line.
However, trustees are now holding their meetings at the club, and, in addition, (further bouts of Coved permitting) the forthcoming AGM (on 30[th] June) will be at the club also.
I think many of us are looking forward to the time when successive lockdowns have faded in the recesses of our memories and many more of us will have returned 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 2022
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
As was the case last year, it is not easy to review the finances of the club by comparison with previous years, but, overall, the accounts continue to 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 £80,000 with liabilities of less than £13,000 and our free reserves stand at £70,000. 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. Based on 2019-20 financial data, this suggests a required reserves level of about £35,000, so the finances of club continue to be in a strong position.
As was the case last year, the various government grants available to the club at the beginning of 2021-22 have continued to secure the club’s finances during this difficult time.
In summary, bridge activities (playing, competitions and tuition) have delivered a small loss of £2,368 for the year (2021 surplus - £1,972). We recommenced our catering and bar operations, although this is now operating at a very low level, despite the introduction of food being included on the new friendly Thursday format. This resulted in a loss of £5,476.
The overheads of the charity totalled £28,085 (2021 - £44,448). The decrease resulted from a drop in staff costs (corresponding to a drop in the furlough scheme grants. In addition, we have recovered over £3,000 from Scottish Power, our energy supplier, who had been overcharging us on Climate Charge levies and VAT.
The net assets have decreased to just under £839,000 (2021 - £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 £11,810 relating to the investments which support the Bob Curtis Fund, which continue to perform well, with a shall surplus, despite the challenging state of the financial markets.
Independent examiners
The charity’s independent examiners are ARA (Bristol) Ltd t/as Adams Root & Associates. 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 2022
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. In addition, Jude Archer and Sue O’Hara were trustees until last year’s AGM, held on 1 July 2021. They continue to support the club as membership secretary and chair of our bridge committee respectively.
All of the other present trustees have served on the Board for the whole year.
Plans for the future
Those members who have played face to face at the club will be adjusting to the introduction of the collection of table money, bar purchases ad membership subscriptions via contactless and/or PIN authorised credit and debit cards. This is not, of course compulsory, but it has made it easier for people to pay money to the club. We are still reviewing the best structure for our playing sessions now that the club has re-opened, and we will consider the opening of the club for more social bridge, extending the sessions that had only just begun before the pandemic, on Wednesday evenings and Saturday mornings. We had just extended the lessons available for different standards of player, which are soon to be reintroduced and extended.
In order to facilitate the development of new ideas for the ways in which the club may operate, we have started to put subsequent sub-committees in place to plan such activities. Currently we have …..
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
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 taken, 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 2022
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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 2022, 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.
ARA (Bristol) Ltd t/as Adams Root & Associates
Date: 2[nd] June 2022
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2022
| 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 2021 Total funds carried forward at 31 March 2022 |
Unrestricted funds Restricted funds 2022 2021 £ £ £ £ 25,785 - 25,785 59,123 - 861 861 2,297 591 - 591 1,199 |
|---|---|
| 26,376 861 27,237 62,619 33,490 - 33,490 9,434 |
|
| 59,866 861 60,727 72,053 |
|
| 65,292 - 65,292 60,048 |
|
| (5,526) 861 (4,665) 12,005 |
|
| 833,280 10,319 843,599 831,594 827,754 11,180 838,934 843,599 |
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
BALANCE SHEET
| 31 MARCH 2022 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 |
2022 2021 £ £ 756,490 756,510 |
|---|---|
| 1,284 - 11,180 10,319 3,238 2,180 80,008 86,185 |
|
| 95,710 98,684 (13,266) (11,595) |
|
| 82,444 87,089 |
|
| 838,934 843,599 |
|
| 11,180 10,319 275,595 275,595 552,159 557,685 838,934 843,599 |
The accounts were approved by the board of trustees on 2[nd] June 2022
Ralph Power - Chair Trustee
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS
31 MARCH 2022
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. Because of the continue closure of the club, the membership subscriptions due by 31 March 2020 were extended to cover two years, to 31 March 2022.
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 2022
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 at 31 March 2021 was 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 |
2022 2021 £ £ 5,936 5,148 11,849 33,103 8,000 10,000 - 10,872 25,785 59,123 |
|---|---|
| 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 17,458 268 7,459 Bar and catering 8,707 50 1,761 Tuition 825 - 679 Overheads 12,410 2,598 13,177 39,400 2,916 23,076 |
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 17,458 268 7,459 Bar and catering 8,707 50 1,761 Tuition 825 - 679 Overheads 12,410 2,598 13,177 39,400 2,916 23,076 |
2022 2021 £ £ 23,017 10,949 5,042 - 5,431 (1,515) 33,490 9,434 |
|---|---|---|
| 2022 2021 Total Total £ £ 25,185 11,406 10,518 3,054 1,504 140 28,185 44,448 |
||
| 39,400 2,916 23,076 |
65,392 60,048 |
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2022
| 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 |
2022 2021 £ £ 3,228 2,253 397 - 1,045 447 238 317 - 30 1,013 932 1,538 1,805 7,459 5,784 |
|---|---|
| 2022 2021 £ £ 238 - 2,095 2,297 389 1,705 5,463 1,976 897 - 300 300 488 - 1,593 1,947 - - 284 - 1,430 445 13,177 8,670 |
7 Employees
Number of employees
During the year the charity employed an average of 12 staff (2021 – 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 until August 2021, until the club reopened in September 2021.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 39,400 | 39,745 |
The cost of wages and salaries includes £231 (2021 - £231) in respect of employer pension contributions.
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2022
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 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Equipment Freehold premises £ 13,262 750,000 2,894 - |
|---|---|
| 16,156 750,000 |
|
| 6,750 750,000 2,916 - |
|
| 9,666 750,000 |
|
| 6,490 750,000 |
|
| 6,510 750,000 |
The property was revalued by Messrs. Maggs & Allen, Property Consultants on 20 December 2017.
11 Investments
| At 1 April 2021 Disposals Unrealised gains/(losses) At 31 March 2022 |
2022 2021 £ £ 10,319 8,022 - - 861 2,297 11,180 10,319 |
|---|---|
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BRISTOL BRIDGE CLUB
A CHARITABLE INCORPORATED ORGANISATION
The investments (and the associated restricted fund – see note 13) have been included at market value.
NOTES TO THE ACCOUNTS (CONTINUED)
31 MARCH 2022
12 Creditors: amounts falling due within one year
| 2 Creditors: amounts falling due within one year Taxes and social security costs Pension contributions Income in advance Trade creditors Other creditors and accruals |
2022 2021 £ £ 2,914 1,563 76 44 6,746 6,599 2,588 2,909 942 480 13,266 11,595 |
|---|---|
13 Restricted funds
| Incoming | Resources | ||||
|---|---|---|---|---|---|
| 1 | April 2021 | resources | expended | 31 March 2022 | |
| £ | £ | £ | £ | ||
| Bob Curtis Fund | 10,319 | 861 | - | 11,180 |
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 resulted in a designated unrestricted fund of £275,595.
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