**BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
**Charity Registration No. 1167959**
**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
1
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Stuart King – chair|
|---|---|
||Mike Forrest - treasurer|
||Caroline Drugan - secretary|
||Hilda Ball|
||Jane Barrett|
||Joanna Galpin|
||Ralph Power|
||Phil Seymour|
||David Turner|
|**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 Certified Accountants|
||86 Shirehampton Road|
||Stoke Bishop|
||Bristol|
||BS9 2DR|
2
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
**----- Start of picture text -----**
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
**----- End of picture text -----**
3
**BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their report and accounts for the year ended 31 March 2023.
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).
## **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.
## **Review of the year**
It has been a relief to be able the club for face-to-face bridge again. The trustees decided that, once that was possible, the club would discontinue the use of on-line bridge platforms. It has taken some time to tempt members back to the club, as the shadow of Covid has not yet disappeared from people’s concerns.
Some changes have been made to the pattern of sessions forming the weekly offering from the club. This has included introducing “Friendly Thursdays”, including the provision of hot food, so that players can consider travelling to the club straight from their places of work, and make the sessions much more sociable. The Nature of Friday evening play has also been changed to provide social bridge, encompassing some coaching from experts, to help players improve their game.
These initiatives are beginning to increase attendance at the club, but has not yet shored up the club’s finances following the cessation of the various grants that helped the club to survive the Covid pandemic.
4
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Financial review**
As was the case last year, it is not easy to review the finances of the club by comparison with previous years. However, last year was a tough year for the club’s finances, as members were initially reluctant to return to face-to-face bridge at the club. Changes to the weekly programme, and the inclusion of hot food within the price on the new “friendly Thursdays” has eventually begun to make a difference to attendance levels, and as the memories of the pandemic begin to fade, we have started to make a modest charge for the food provided both on Thursday and Friday nights. However, overall, the accounts show a significant deficit for the year.
At 31 March, we had cash and bank balances in excess of £53,500 with liabilities of about £14,000 and our free reserves stood at almost £46,000. That is close to 1.5 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 this year’s results data, this suggests a required reserves level of about £33,000, so the finances of club continue to be in a strong position.
In summary, bridge activities (playing, competitions and tuition) have delivered a loss of £8,200 for the year (2022 loss - £2,368). 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 £16,500.
The overheads of the charity totalled £28,554 (2022 - £28,085).
The net assets have decreased to just under £808.000 (2022 - £839,000). £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 £8,472 relating to the investments which support the Bob Curtis Fund, which continue to perform well, despite a small loss this year.
## **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.
## **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. Changes to the membership of the Board took place at the Annual General Meeting on 2 July 2022, when Ralph Power stood down as Chair (but continues as a trustee) and David Turner and Jane Barrett were appointed as trustees.
All of the other present trustees have served on the Board for the whole year.
5
**BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Plans for the future**
The trustees will be proposing an increase in table money charges at the forthcoming AGM. These have remained at a constant level for many years, and the club now needs to acknowledge the effect on its operation of both inflation and the increase in the government’s National Living Wage.
Now that it has not seemed likely that the club will be relocating in the near future, planning is under way for work to be done to refurbish the building, to improve the access to and the quality of our facilities.
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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.
6
**BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Trustees’ responsibilities**
In so far as the trustees are aware at the time of approving our trustees’ annual report:
- there is no relevant information, being information needed by the independent examiner in connection preparing their report, of which the examiner is unaware, and
- 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
## **Stuart King (Chair)**
## **6[th] June 2023**
7
## **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 2023, which are set out on pages 9 to 15.
## _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:
- examine the accounts under section 145 of the 2011 Act;
- 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
- 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:
1. which gives us reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
- have not been met;
or
2. 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: 6[th] June 2023
8
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 MARCH 2023**
|**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 (loss) for the year**
Fund balances at 1 April
2022
**Total funds carried forward**
**at 31 March 2023**|**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2022**
£
£
£
£
10,172
-
10,172
25,785
-
(154)
(154)
861
858
-
858
591|
|---|---|
||11,030
(154)
10,876
27,237
61,706
-
61,706
33,490|
||72,736
(154)
72,582
60,727|
||98,505
4,626
103,131
65,292|
||(25,769)
(4,780)
(30,549)
(4,665)|
||827,754
11,180
838,934
843,599
801,985
6,400
808,385
838,934|
9
**BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **BALANCE SHEET**
|**31 MARCH 2023**
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|2023
2022
£
£
756,816
756,490|
|---|---|
||2,000
1,284
8,472
11,180
1,553
3,238
53,689
80,008|
||65,714
95,710
(14,146)
(13,266)|
||51,568
82,444|
||808,385
838,934|
||6,400
11,180
275,595
275,595
526,390
552,159
808,385
838,934|
The accounts were approved by the board of trustees on 6[th] June 2023
Stuart King - Chair Trustee
10
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS**
## **31 MARCH 2023**
## **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 2023.
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
11
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **31 MARCH 2023**
## **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 2022 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|2023
2022
£
£
10,172
5,936
-
11,849
-
8,000
-
-
10,172
25,785|
|---|---|
|**3 Activities in furtherance of the charity's objectives**
Bridge play
Bar and refreshments
Tuition
**4 Total resources expended**
Staff
Deprec’n
Other
£
£
Bridge play
25,242
268
9,606
Bar and catering
20,225
28
9,452
Tuition
4,541
-
589
Restricted fund
1,264
-
3,362
Overheads
-
2,530
26,024
51,272
2,826
49,033|**3 Activities in furtherance of the charity's objectives**
Bridge play
Bar and refreshments
Tuition
**4 Total resources expended**
Staff
Deprec’n
Other
£
£
Bridge play
25,242
268
9,606
Bar and catering
20,225
28
9,452
Tuition
4,541
-
589
Restricted fund
1,264
-
3,362
Overheads
-
2,530
26,024
51,272
2,826
49,033|2023
2022
£
£
43,334
23,017
13,205
5,042
5,167
5,431
61,706
33,490|
|---|---|---|
|||2023
2022
Total
Total
£
£
35,116
25,185
29,705
10,518
5,130
1,504
4,626
-
28,554
28,185|
||51,272
2,826
49,033|103,131
65,392|
12
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **31 MARCH 2023**
|**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**
Payment fees
Council tax and water rates
Insurance
Heat, light and power
Cleaning
Improvements
Repairs and maintenance
Accountancy
Waste disposal
Security
Training
Trustees’ expenses
Other|2023
2022
£
£
4,862
3,228
758
397
1,272
1,045
198
238
-
30
866
1,013
1,830
1,538
9,606
7,459|
|---|---|
||2023
2022
£
£
1,155
-
466
238
2,240
2,095
5,553
389
8,612
5,463
2,743
-
1,208
897
300
300
1,101
-
1,661
1,593
-
-
-
284
985
1,430
26,024
13,177|
## **7 Employees**
## **Number of employees**
During the year the charity employed an average of 15 staff (2022 – 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 2022, until the club reopened in September 2022.
|022.|||
|---|---|---|
||2023|2022|
||£|£|
|Wages and salaries|51,272|39,400|
The cost of wages and salaries includes £399 (2022 - £231) in respect of employer pension contributions.
13
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **31 MARCH 2023**
## **8 Trustees**
Two trustees received payment for running some of the charity’s playing sessions, and two trustees run 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 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
**At 31 March 2023**
At 31 March 2022|Equipment
Freehold
premises
£|
|---|---|
||16,156
750,000|
||2,217
-|
||18,373
750,000|
|||
||9,666
750,000|
||1,891
-|
||11,557
750,000|
||6,816
750,000|
||6,490
750,000|
The property was revalued by Messrs. Maggs & Allen, Property Consultants on 20 December 2017. The trustees do not intend to dispose of the property in the near future, and are confident that the value of the property is not less than this valuation.
14
## **BRISTOL BRIDGE CLUB**
## **A CHARITABLE INCORPORATED ORGANISATION**
## **11 Investments**
|At 1 April 2022
Disposals
Unrealised gains/(losses)
At 31 March 2023|2023
2022
£
£
11,180
10,319
(2,554)
-
(154)
861
8,472
11,180|
|---|---|
The investments (and the associated restricted fund – see note 13) have been included at market value.
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **31 MARCH 2023**
## **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|**2023**
**2022**
£
£
4,092
2,914
143
76
4,567
6,746
3,297
2,588
2,047
480
14,146
13,266|
|---|---|
## **13 Restricted funds**
||||Incoming|Resources||
|---|---|---|---|---|---|
||1|April 2022|resources|expended|31 March 2023|
|||£|£|£|£|
|Bob Curtis Fund||11,180|(154)|4,626|6,400|
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 club also used some of the fund to support the holding of “Friendly Thursdays”, run with similar objectives.
The Fund continues to be supported by the investments which were made from gifts made during his lifetime (see note 13).
## **14. Revaluation reserves**
The Trustees have adopted a revaluation policy for the freehold premises. This valuation of £750,000 resulted in an unrestricted revaluation reserve of £275,595.
15