The Bridge a Charitable Incorporated Organisation
Report of the trustees for the year ending 31 December 2024
The trustees are pleased to present their report together with the consolidated financial statements of The Bridge for the year to 31 December 2024 and can confirm that the latter comply with the requirements of the Charities SORP 2019.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the Charities Act 2011 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) (effective 1 January 2019)."
The Charity’s gross income and gross assets are below the threshold for the statutory audit as per Charities SORP 2019.
1
The Bridge a Charitable Incorporated Organisation
Objectives
The CIO has been established to promote the following charitable purposes for the public benefit:
-
To advance in life and relieve needs of young people through: a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
-
b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals;
-
c) the relief of financial hardship by the provision of grants to those young people in need;
-
d) the preservation and protection of good physical and mental health.
Activities
Our activities include:
-
Giving Christmas gift vouchers to young adults who are undergoing cancer treatment over the Christmas period;
-
Organising leisure activities (eg, playground visits, swimming pool visits, café visits etc) for children and young adults from underprivileged backgrounds;
-
Organising educational activities (eg, interactive exhibitions visits, helping with the homework etc) for children and young adults from underprivileged backgrounds;
-
Organising activities for children and young adults from underprivileged backgrounds which focus on human values and in which volunteers from different countries, religions, races together with the children and young adults will participate (eg, interactive plays, where children will be required to make basic ethical choices, reading world literature which reveals the best in a human being etc);
-
Providing financial assistance to young adults from underprivileged backgrounds by giving grants, paying for education/student accommodation etc;
2
The Bridge a Charitable Incorporated Organisation
Achievements and Performance
During this reporting period The Charity supported young adults with cancer in London. It gave £600 worth of Christmas gift vouchers to young adults who were undergoing cancer treatment over the Christmas period in Paul’s House (Home from Home, London). There is a charitable need for this activity. The majority of the presents donated during Christmas are for children. By receiving gift vouchers young adults had the opportunity to either go to High Street to do the shopping or spend the vouchers online if they were too weak to go out. By carrying out this activity The Bridge provided emotional support to young adults with cancer and their families that had to stay during a festive season away from home.
Financial Review
Income
Income of The Charity amounted to £1.08K in 2024. The funds came from “Christmas Lights” campaign and publishing.
Expenditure
Expenditure of The Charity for the year comprises £1.03K. The funds have been spent to acquire Christmas vouchers to support young adults undergoing cancer treatment over the festive period.
Operating surplus
Operating surplus for the year amounted to £0.05K.
Other
The Charity had to restate Cash flow statement 2023 to reflect cash rather than accounting movements in Investment activities. Please see Note 1 for more details.
Risk management
The Board of the Trustees is working on implementing a risk management strategy in relation to the Charity which comprises:
3
The Bridge a Charitable Incorporated Organisation
-
The development of a risk register
-
The establishment of systems and procedures to manage the risks
Key Risks
The Charity has a number of risks, the main ones are:
-
decline in funding
-
changing economic and political environment
-
IT risk (loss of data, lack of technical support)
Structure, Governance and Management
The Bridge is a Charitable Incorporated Organisation (“CIO”, Foundation Structure) governed by its Constitution dated 25/01/2018. The Bridge’s voting members are its Trustees only.
The Bridge registered with the Charity Commission on 25/01/2018. Its registration number is 1176835.
As set out in the Constitution apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
The Bridge owns 100% of the issued share capital of The Bridge Entertainment Limited (company number 14498029), a private company limited by shares, the main activity of which is publishing. See Note 7 to the financial statements for a synopsis of its results.
Reference and Administrative Details
Name of the Charity : The Bridge (Registered Charity Number 1176835) Public Address: Unit 34836, Po Box 6945, London, W1A 6US Registered Address: Lytchett House , 13 Freeland Park, Wareham Road, Poole, Dorset BH16 6FA Telephone Number : +44 (0) 7925652677 E-mail: info@bridge-charity.org.uk Charity’s Trustees : Ekaterina Medvedeva, Katsiaryna Kot, Volha Ramanchuk
4
The Bridge a Charitable Incorporated Organisation
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and group, and of the financial activities of the charity for that year.
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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are required to act in accordance with the Constitution of the charity, within the framework of charity law. They are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
By order of the trustees; —
Ekaterina Medvedeva
For and on behalf of the trustees
5
The Bridge a Charitable Incorporated Organisation
Consolidated statement of financial activities
(incorporating an income and expenditure account) For the year ended 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations | 335 | 530 | 865 | 2,623 | |
| Publishing | 216 | - | 216 | 136 | |
| Total | 2 | 551 | 530 | 1,081 | 2,759 |
| Expenditure on: | |||||
| Raising funds | |||||
| Donations | 8 | 18 | 26 | 17 | |
| Publishing | 127 | - | 127 | 64 | |
| Charitable activities | 277 | 600 | 877 | 917 | |
| Total | 3 | 412 | 618 | 1,030 | 998 |
| Net income | 139 | (88) | 51 | 1,761 | |
| Transfer between funds | (88) | 88 | - | - | |
| Net movement in funds | 51 | - | 51 | 1,761 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 3,705 | - | 3,705 | 1,944 | |
| Total funds carried forward | 5 | 3,756 | - | 3,756 | 3,705 |
The accompanying notes from pages 10 to 19 are an integral part of this Consolidated statement of financial activities.
6
The Bridge a Charitable Incorporated Organisation
Charity statement of financial activities
(incorporating an income and expenditure account) For the year ended 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations | 335 | 530 | 865 | 2,623 | |
| Investments | 139 | 139 | 84 | ||
| Total | 2 | 474 | 530 | 1,004 | 2,707 |
| Expenditure on: | |||||
| Raising donations | 10 | 18 | 28 | 17 | |
| Charitable activities | 325 | 600 | 925 | 929 | |
| Total | 3 | 335 | 618 | 953 | 946 |
| Net income | 139 | (88) | 51 | 1,761 | |
| Transfer between funds | (88) | 88 | - | - | |
| Net movement in funds | 51 | - | 51 | 1,761 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 3,705 | - | 3,705 | 1,944 | |
| Total funds carried forward | 5 | 3,756 | - | 3,756 | 3,705 |
The accompanying notes from pages 10 to 19 are an integral part of this Charity statement of financial activities.
7
The Bridge a Charitable Incorporated Organisation
Consolidated and Charity balance sheets
As at 31 December 2024
| Group | Charity | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||
| Notes | Total | Total | Total | Total | |
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Investments | 8 | - | - | 1 | 1 |
| Total fixed assets | - | - | 1 | 1 | |
| Non-Current asset | |||||
| Amounts due from subsidiary | 10 | ||||
| undertaking | - | - | 1,759 | 1,883 | |
| Total Non-Current assets | - | - | 1,759 | 1,883 | |
| Current Assets | |||||
| Stock | 9 | 1,767 | 1,854 | - | - |
| Debtors | 10 | 200 | 198 | 338 | 263 |
| Cash and Bank | 1,789 | 1,653 | 1,658 | 1,559 | |
| 3,756 | 3,705 | 1,996 | 1,822 | ||
| Creditors | |||||
| Amounts due within oneyear | 11 | - | - | - | (1) |
| Net current assets | 3,756 | 3,705 | 1,996 | 1,821 | |
| Net assets | 3,756 | 3,705 | 3,756 | 3,705 | |
| Restricted Funds | - | - | - | - | |
| Unrestricted Funds | 5 | 3,756 | 3,705 | 3,756 | 3,705 |
| Total funds | 3,756 | 3,705 | 3,756 | 3,705 |
The financial statements were approved by the Board of Trustees and authorised for issue on ____ 23/10/2025 and signed on its behalf by:
Ekaterina Medvedeva
Trustee
The accompanying notes from pages 10 to 19 are an integral part of this balance sheets.
8
The Bridge a Charitable Incorporated Organisation
Consolidated statement of cash flows and Charity statement of cash flows
As at 31 December 2024
| Group | Charity | Charity | ||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | 2023 | ||
| As | As Restated | |||||
| Previously | ||||||
| Reported | ||||||
| £ | £ | £ | £ | £ | ||
| Cash flow from operating activities | 136 | (112) | (226) | 1,711 | 1,794 | |
| Cash flow from investing activities | ||||||
| Interest received | - | - | 135 | 10 | - | |
| Investment Income | - | - | 74 | 74 | - | |
| Loan facility to subsidiary | - | - | 117 | (2,000) | (2,000) | |
| Investment in subsidiary | - | - | (1) | (1) | - | |
| - | - | 325 | (1,917) | (2,000) | ||
| Net change in cash and cash equivalents | 136 | (112) | 99 | (206) | (206) | |
| Cash and cash equivalents at start of the year | 1,653 | 1,765 | 1,559 | 1,765 | 1,765 | |
| Cash and cash equivalents at end of the year | 1,789 | 1,653 | 1,658 | 1,559 | 1,559 |
Reconciliation of net income to cash flow from operating activities Group Charity
| 2024 | 2023 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|---|
| As | As Restated | ||||
| Previously | |||||
| Reported | |||||
| £ | £ | £ | £ | £ | |
| Net income for the year | 51 | 1,761 | 51 | 1,761 | 1,761 |
| Adjusted for: | |||||
| Investment income | - | - | (139) | (84) | (84) |
| Movement in stock | 87 | (1,854) | - | - | - |
| Movement in debtors | (2) | 731 | (138) | 783 | 867 |
| Movement in creditors | - | (750) | - | (749) | (750) |
| Cash flow from operating activities | 136 | (112) | (226) | 1,711 | 1,794 |
9
The Bridge a Charitable Incorporated Organisation
1. Accounting Policies
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts have been prepared under the historical cost convention. The Bridge meets the definition of a public benefit entity under FRS 102.
The principal accounting policies are summarised below.
Group financial statements
The group financial statements consolidate the results of the parent and its subsidiary The Bridge Entertainment Limited (see Note 7), on a line-by-line basis. All intra-group transactions are fully eliminated on consolidation in the group results. The financial statements of the subsidiary are made up to the same date as the parent, 31 December 2024.
Going concern
On the basis of their assessment of the charity’s financial position the Trustees have a reasonable expectation that the charity will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised
10
The Bridge a Charitable Incorporated Organisation
until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.
Income from other trading activities includes income earned from book sales to raise funds for the charity.
Expenditure
All expenditure is accounted for on an accruals basis:
-
Raising funds - the cost of specific campaigns and events for the raising of donations
-
Publishing- the cost of printing and selling the books to the general public
-
Charitable activities - expenditure which is directly attributable to pursuing the Charity’s charitable objects
-
Support costs are allocated to activity cost categories on a basis consistent with the use of resources e.g. % of direct activity costs of total direct costs
-
Other costs-expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
Stock
Stock consists of books for resale and is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis.
Debtors
Trade and other debtors are recognized at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Funds
Restricted Funds
Donations received for specific purposes are treated as Restricted Funds. Related costs are charged against these funds.
11
The Bridge a Charitable Incorporated Organisation
Unrestricted Funds
These comprise accumulated surpluses and deficits on the Statement of Financial Activities, excluding restricted funds. They are available at the discretion of the Trustees in furtherance of the general charitable objectives of the Charity.
Donated Goods, Facilities and Services
Income is recognised by the Charity for goods, facilities and services donated to it once the Charity has entitlement to the economic benefits that flow from the donation, it is probable that the economic benefits associated with the donation will flow to the Charity, the fair value or value to the Charity of the donation can be measured reliably.
Taxation
The Bridge has been recognized as a charity by HMRC. Accordingly, The Bridge is potentially exempt from taxation in respect of income or capital gains to the extent that such income or gains are applied exclusively to charitable purposes.
No tax charge arose in the period.
Financial Instruments
The Charity only has financial assets of a kind that qualify as basic financial instruments.
Measurement of basic financial instruments is as follows:
-
Cash is measured at cash held
-
Debtors (including trade debtors and loans receivable) is measured at settlement amount after trade discounts or amounts advanced by the charity
-
Creditors (including trade creditors and loans payable) is measured at settlement amount or amount advanced to the charity
Cash flow statement
The Charity had to restate Cash flow statement 2023 to reflect cash rather than accounting movements in Investment activities. As a result, cash outflow from investment activities increased by £83 and cash inflow from operating activities increased by the same amount.
12
The Bridge a Charitable Incorporated Organisation
2. Income
| Group | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Donations | ||||
| Individual donors | - | - | - | 2,000 |
| Just giving | - | 530 | 530 | 288 |
| Donated facilities | 335 | - | 335 | 335 |
| Total donations | 335 | 530 | 865 | 2,623 |
| Other trading activities | ||||
| Publishing | 216 | - | 216 | 136 |
| Total other trading activities | 216 | - | 216 | 136 |
| Total income | 551 | 530 | 1,081 | 2,759 |
| Charity | 2024 | 2023 | ||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Donations | ||||
| Individual donors | - | - | - | 2,000 |
| Just Giving | - | 530 | 530 | 288 |
| Donated Facilities | 335 | - | 335 | 335 |
| Investments | 139 | - | 139 | 84 |
| Total Income | 474 | 530 | 1,004 | 2,707 |
13
The Bridge a Charitable Incorporated Organisation
3. Expenditure Analysis
| Group | 2024 | 2023 | ||
|---|---|---|---|---|
| Direct | Support | |||
| Costs | costs | Total | Total | |
| £ | £ | £ | £ | |
| Costs of generating funds | ||||
| Donations | 18 | 8 | 26 | 17 |
| Publishing | 87 | 40 | 127 | 64 |
| Charitable activities | ||||
| Christmas Vouchers | 600 | 277 | 877 | 917 |
| Total | 705 | 325 | 1,030 | 998 |
| Charity | 2024 | 2023 | ||
| Direct | Support | |||
| Costs | costs | Total | Total | |
| £ | £ | £ | £ | |
| Costs of raising funds | ||||
| Cost of generating donations | 18 | 10 | 28 | 17 |
| Charitable activities | ||||
| Christmas Vouchers | 600 | 325 | 925 | 929 |
| Total | 618 | 335 | 953 | 946 |
Support costs of £335 have been allocated to activity cost based on the % of the Direct Activity Costs of the Total Direct Costs. This includes the cost of domain registration and UK Post Box registration fee.
4. Employees
None of the trustees received remuneration for their trustee’s services during the year. For details of Related Party Transactions, please refer to Note 12-Related Party Transactions. The key management personnel of the Charity comprises of the three Trustees.
14
The Bridge a Charitable Incorporated Organisation
5. Funds.
| Group | ||||||
|---|---|---|---|---|---|---|
| Fund | Balance | Income | Expenditure | Transfers |
Gains | Balance |
| name | at 01 | and | at 31 | |||
| January | December | |||||
| 2024 | Losses | 2024 | ||||
| £ | £ | £ | £ | £ | ||
| £ | ||||||
| Restricted | - | 530 | (618) | 88 | - | - |
| Unrestricted | 3,705 | 551 | (412) | (88) | - | 3,756 |
| Total Funds |
3,705 | 1,081 | (1,030) | - | - | 3,756 |
| Charity | ||||||
| Fund | Balance | Income | Expenditure | Transfers | Gains | Balance |
| name | at 01 | and | at 31 | |||
| January | Losses | December | ||||
| 2024 | 2024 | |||||
| £ | £ | £ | £ | £ | £ | |
| Restricted | - | 530 | (618) | 88 | - | - |
| Unrestricted | 3,705 | 474 | (335) | (88) | - | 3,756 |
| Total Funds |
3,705 | 1,004 | (953) | - | - | 3,756 |
Christmas Lights. Restricted funds represent donations towards buying Christmas gift vouchers to young adults who are undergoing cancer treatment over the Christmas period.
6. Donated Goods, Facilities and Services.
Domain Registration of £11, UK Post Box registration fee of £324 for the Charity has been paid by the Trustees.
15
The Bridge a Charitable Incorporated Organisation
7. Subsidiary company.
The charity owns 100% of the issued share capital of The Bridge Entertainment (company number 14498029), a private company limited by shares, the main activity of which is publishing. It sells books for the benefit of the Charity. A summary of The Bridge Entertainment LTD trading results for the year ended 31 December 2024 is as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Turnover | 216 | 136 |
| Cost of sales | (87) | (42) |
| Grossprofit | 129 | 94 |
| Administrative expenses-General | 10 | (10) |
| Operating profit before interest and realisedgains | 139 | 84 |
| Interest Payable | (125) | (10) |
| Profit on ordinary activities before taxation | 14 | 74 |
| Taxation | - | - |
| Retainedprofit for theyear | 14 | 74 |
| Retained profit brought forward | - | - |
| Gift Aid donation | (14) | (74) |
| Retainedprofit carried forward | - | - |
| Total assets | 1,898 | 2085 |
| Total liabilities | (1,897) | (2,084) |
| Net assets as at 31 December 2024 | 1 | 1 |
The subsidiary is exempt from the requirements to audit the accounts under section 477 of the Companies Act 2006.
The subsidiary company has the same registered office address as the parent Charity, shown on page 4.
16
The Bridge a Charitable Incorporated Organisation
8. Investments.
| Group | Charity | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charity investment in subsidiary | - | - | 1 | 1 |
| - | - | 1 | 1 |
9. Stock.
| **Group ** | Charity | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Books for sale | 1,767 | 1,854 | - | - |
| Total | 1,767 | 1,854 | - | - |
10. Debtors.
| Group | Charity | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Current debtors | £ | £ | £ | £ |
| Trade debtors | - | 136 | - | - |
| Other debtors | 200 | 62 | 200 | 62 |
| Amounts due from subsidiary | ||||
| undertaking | - | - | 138 | 201 |
| Amounts are due within oneyear | 200 | 198 | 338 | 263 |
17
The Bridge a Charitable Incorporated Organisation
10.Debtors (continued).
| Group | Charity | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Non-Current debtors | £ | £ | £ | £ |
| Amounts due from subsidiary | ||||
| undertaking | - | - | 1,759 | 1,883 |
| Amounts are due after oneyear | - | - | 1,759 | 1,883 |
The amount loaned to the subsidiary undertaking has been provided for the long-term benefit of The Bridge Entertainment and is not expected to be repaid within twelve months. As a result, the substance of this debt is considered to be a long-term debtor and is therefore presented as such in the financial statements.
11. Creditors.
| Group | Charity | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Amount falling due within one year | ||||
| Trade creditors | - | - | - | - |
| Amounts due to subsidiary | ||||
| undertaking | - | - | - | 1 |
| - | - | - | 1 |
18
The Bridge a Charitable Incorporated Organisation
12. Related Party Transactions.
Subsidiary
Transactions between the parent company The Bridge and its subsidiary The Bridge Entertainment Limited are as follows:
Interest payable to the ultimate parent undertaking: £125. Capital repayment to the ultimate parent undertaking: £117. Profits in the subsidiary to be donated to the charity: £14.
19