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2025-03-31-accounts

Charity no. 1178918

The Bridge Foundation Report and Audited Financial Statements 31 March 2025

The Bridge Foundation

Reference and administrative details

For the year ended 31 March 2025

Charity number 1178918 Registered office 13 Sydenham Road Bristol BS6 5SH

Trustees The trustees who served during the year and up to the date of this report were as follows:

Serving: Rosamund Burke (appointed 24 November 2025) Chris Bird Treasurer (appointed 29 January 2024) Itamar Cohen Clinical Trustee (appointed 29 January 2024) Matilda Crowhurst (appointed 24 November 2025) Martin McColl Vice Chair (appointed 25 September 2023) (appointed Vice-Chair 23 September 2024) Jonathan Parr (appointed 29 January 2026) Leila Stroud (appointed 29 January 2026) Megan Yakeley Clinical Trustee & Chair (appointed Chair 1 January 2025) Resigned: Rob Barling (resigned 4 December 2025) Cathy Benjamin Chair (resigned 23 September 2024) Kristian Cox (resigned 31 December 2024) Jessica Miles Chair (appointed 23 September 2024) (resigned 31 December 2024) Laura Vickers-Rendall (resigned 29 September 2025) Lindy Wootton (resigned 15 June 2025) CEO Matthew Jenkins (appointed May 2025) Bankers NatWest 40 Queen's Road Clifton Bristol BS8 1BF Auditors Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

1

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Objectives and activities

Purpose

The objects of the Charitable Incorporated Organisation (CIO) are for the public benefit in Bristol and the South West (the area of benefit):

This is done through the advancement of the skills and application of psychoanalytically based therapeutic services and the pursuit of good practice through education, training, consultancy and promotion of the arts.

Aims

Our vision

At The Bridge Foundation we want a future where every person can feel secure about who they are and relate to others as fully and honestly as possible.

We provide counselling, psychotherapy, consultation and supervision informed by psychoanalytic thinking in Bristol and the South West. We use a psychoanalytic approach to explore underlying patterns in behaviour and relationships and improve emotional wellbeing and mental health.

We do this by providing:

Our approach

The Bridge Foundation is a charity where:

2

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE

Change in Leadership

Following a period of evaluation and some changes in senior staff, the trustees concluded that the Joint Leadership Team (JLT) structure established in 2022 should be replaced with a single Chief Exectuive Officer.

In December 2024, Matthew Jenkins, previously Clinical Director of the Bridge in Schools team and part of the JLT, was appointed CEO, initially on an interim basis. He was confirmed as permanent CEO in May 2025.

The transition was managed carefully to ensure continuity of service delivery and organisational stability. During this period, the trustee board also underwent changes, with Cathy Benjamin and Kristian Cox stepping down from the Board and Megan Yakeley being appointed as Chair. The Trustees have recruited new trustees to refresh and rejuvenate the board and strengthen governance capacity.

The organisation now has stable leadership in place, with a clear strategic direction and strong governance oversight.

Bridge in Schools

The Bridge in Schools team delivers therapeutic services in some of Bristol's most deprived areas, supporting children with complex emotional needs within the school setting. Schools face increasing challenges managing children experiencing severe emotional and behavioural difficulties, and our embedded therapeutic approach provides vital early intervention.

The service model, which combines direct therapeutic work with consultation to school staff, helps schools respond more effectively to children's mental health needs whilst reducing pressure on overstretched external CAMHS services.

Bridge Psychotherapy Service

The Bridge Psychotherapy Service provides a range of specialist therapeutic support for children, young people, and families, experiencing mental health and emotional wellbeing, including those affected by adoption and early childhood trauma, and an autism assessment service. In 2024-25, the BPS service delivered high-quality clinical work throughout the year.

Funding Changes and Strategic Response

The post year end period brought financial challenges for the Charity arising from external policy changes.

In April 2025, the government announced major changes in the Adoption and Special Guardianship Support Fund (ASGSF). As the income from this fund represented a substantial portion of the charity’s income, it was clear that a change of strategic direction was needed.

This change is only partially complete in 2026 but results indicate that the new strategy has been largely successful. Trustees are continuing to monitor progress and remain confident in the strategic direction.

3

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

Service Quality and Delivery

Throughout 2024-25, the clinical team maintained high standards of therapeutic work. Waiting times have been reduced, supervision, training, and clinical governance structures remained robust. The team's professionalism and commitment has been exemplary.

Plans for the future

Strategy

Our strategic approach continues to be driven by our four Core strategic guiding principles:

The loss of the ASGSF funding resulted in the implementation of an immediate recovery plan and a review (ongoing) of our clinical model and clinical offer. These will remain rooted in psychodynamic principles, whilst evolving to best meet the current environment. We are also excited to be exploring new service development opportunities and new partnerships to further diversify our portfolio.

Public benefit

Trustees have regard to the two key principles of public benefit set by the Charity Commission. First that there should be clarity over benefits and that they must relate to organisational aims and that such benefits should be balanced against any harmful detriment. The second benefit must be to the public; that beneficiaries must be appropriate and that access to such benefits should not be unreasonably restricted. Trustees consider that the combination of fee paying and free services provided by the Bridge Foundation conforms to the conditions and guidance offered by the Charity Commission in relation to public benefit.

Financial review

Going concern

The accounts have been prepared on the assumption that the charity will continue as a going concern. The announcement of the changes in the ASGSF clearly represent a challenge but the new strategic approach is clearly working.

It worth noting that the Trustees have had detailed contingency plans in place to deal with any timing issues arising from the new strategy.

Financial Position

At 31 March 2024, the charity held unrestricted, general reserves of £389,974 and a cash balance of £95,964.

The year ended with expenditure of £1,067,694 against an income of £1,013,589, At March 2025, total unrestricted reserves amounted to £389,974.

4

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

Principal risks and reserves policy

Trustees regularly address risk management issues, which are the major strategic, business and operational risks which the charity faces, the maintenance of a risk register, the establishment of systems for the monitoring of risk, and the setting up of contingency arrangements.

The Board review financial performance and cash flow bi-monthly at board meetings. Clinical risk is currently managed through regular clinical supervision and adherence to ethics and best practice of relevant professional bodies (BACP, UKCP, BPC and ACP).

The majority of the Foundation's project running costs are covered by income generated within the financial year or by funding from designated or restricted funds. Such funds fluctuate as a consequence of grants from major funders being received either in advance or in arrears of the financial year in which relevant expenditure is made.

Trustees have, therefore, established a policy whereby free reserves (the unrestricted funds not committed in tangible fixed assets or otherwise designated by a funder or donor) should be maintained at a minimum level equating to at least six months of unrestricted expenditure (the nonproject core costs of the organisation). The intention is that such free reserves should provide sufficient cover for non-project management, administrative and other support costs in case of unexpected funding shortfalls and to allow time to deal with such unexpected events.

Support costs for six months amount to approx. £107,000 and at the end of the year free reserves are £25,232, equating to 1 to 2 months of support costs. The low reserves figure at the year-end reflects the purchase of the property in January. The trustees are in the process of reviewing the reserves policy, and will implement a plan for improving the reserves position of the Charity over time.

Structure, governance and management Constitution

The Bridge Foundation was registered as an unincorporated charity on 1 February 1999 operating under a deed of trust dated 19 October 1998 as amended by a supplemental deed dated 12 May 2009 with charity number 1073759. As of 1 April 2019, the organisation has become a Charitable Incorporated Organisation (CIO) with charity number 1178918.

Method of appointment or election of trustees

Prospective trustees are initially invited to an informal discussion with the Chair and/or Vice Chair covering the organisation’s mission, strategic direction, and the responsibilities of trustees, including the distinction between governance and management. Candidates are asked to provide two references to confirm their suitability.

On appointment, new trustees may attend a board meeting prior to formal confirmation by the board. Induction includes meetings with the Chair and CEO, a tour of the premises, introductions to the Senior Management Team, and an information pack containing the Articles of Association, Annual Report and Accounts, and Charity Commission guidance. Trustees are encouraged to attend local governance training and benefit from membership of Voscur and The Association of Chairs, which offer training and peer support opportunities. Trustees are appointed for an initial term of three years.

5

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

Organisational structure and decision making

The Board of Trustees meets twelve times a year (six board meetings and six Strategy, Resources and Business Group meetings). The Board is responsible for the finances, strategic direction and policies of the charity.

The Board of Trustees aims to provide a balance of skills and experience relevant and applicable to the work of The Bridge Foundation, our beneficiary groups and the issues we are dealing with.

The board has adopted, and will keep under review, a set of policies relating to corporate governance - including Equalities, Child Protection and Safeguarding, Vulnerable Adults, Confidentiality, Environment, Health & Safety, Complaints, Employment, Data Protection and Grievance.

Trustee recruitment has been a focus of the last year with a number of long-term Trustees standing down. The Trustees have committed to developing the membership of the Board and increasing its diversity.

The Strategy, Resources and Business Group (SRB) meets six times a year. Its purpose is:

The CEO holds responsibility for the operational management of The Bridge Foundation, the management of clinical service teams and for the planning, delivery and monitoring of day-to-day activity of the Foundation.

Pay and remuneration

Pay reviews and new posts are assessed and reviewed by a job evaluation panel made up of senior staff and (if required) trustees. Recommendations relating to staff (pay, conditions of service, leave of absence, new appointments) are presented to the Trustees for endorsement and/or approval.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate the charity's exposure to the major risks.

Insurance

The charity holds employer liability, public liability and professional indemnity insurances.

Trustees' indemnities

Trustees exercise skill and care in the management of staff, finances, and the delivery of services and receive regular reports with documentation on all aspects of organisational activity, The composition of the board and its meetings and deliberations take place within the terms of the governing document.

6

The Bridge Foundation

Report of the trustees

For the year ended 31 March 2025

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Godfrey Wilson Limited were appointed as auditors to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 29 January 2026 and signed on their behalf by

Megan Yakeley

Chris Bird

Dr Megan Yakeley - Chair

Christopher Bird - Treasurer

7

Independent auditors' report

To the trustees of

The Bridge Foundation

Opinion

We have audited the financial statements of The Bridge Foundation (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

▪have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 7 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

8

Independent auditors' report

To the trustees of

The Bridge Foundation

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

9

Independent auditors' report

To the trustees of

The Bridge Foundation

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

10

Independent auditors' report

To the trustees of

The Bridge Foundation

Use of our report

This report is made solely to the charityʼs trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Godfrey Wilson Limited

Date: 29 January 2026

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Godfrey Wilson Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

11

The Bridge Foundation

Statement of financial activities

For the year ended 31 March 2025

Restricted
£
Income from:
Donations
3
-
Charitable activities
4
114,500
Other income
-
Total income
114,500
Expenditure on:
Raising funds
-
Charitable activities
129,500
Total expenditure
6
129,500
7
(15,000)
(143,441)
(158,441)
Reconciliation of funds:
Total funds brought forward
158,441
Total funds carried forward
-
Note
Net income / (expenditure)
Transfers between funds
Net movement in funds		 Unrestricted
£
17,090
880,187
1,812
899,089
44,208
893,986
938,194
(39,105)
143,441
104,336
285,638
389,974		 2025
Total
£
17,090
994,687
1,812
1,013,589
44,208
1,023,486
1,067,694
(54,105)
-
(54,105)
444,079
389,974		 2024
Total
£
48,726
943,682
1,035
993,443
43,259
911,099
954,358
39,085
-
39,085
404,994
444,079

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

12

The Bridge Foundation

Balance sheet

As at 31 March 2025

Note
Fixed Assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than 1 year
13
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
General funds
Total charity funds		 140,259
95,964
236,223
(47,269)		 2025
£
364,742
188,954
553,696
(163,722)
389,974
-
389,974
389,974		 2024
£
-
158,148
318,492
476,640
(32,561)
444,079
444,079
-
444,079
158,441
285,638
444,079

Approved by the trustees on 29 January 2026 and signed on their behalf by

Megan Yakeley

Chris Bird

Dr Megan Yakeley - Chair

Christopher Bird - Treasurer

13

The Bridge Foundation

Statement of cash flows

For the year ended 31 March 2025

For theyear ended 31 March 2025
Cash used in operating activities:
Net movement in funds
Interest payable
Decrease / (increase) in debtors
Increase in creditors
Net cash (used in) / provided by operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Repayment of borrowings
Cash inflows from new borrowings
Net cash provided by financing activities
(Decrease) / increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
(54,105)
2,085
17,889
692
(33,439)
(364,742)
(364,742)
(4,347)
180,000
175,653
(222,528)
318,492
95,964		 2024
£
39,085
-
(35,557)
25,236
28,764
-
-
-
-
-
28,764
289,728
318,492

Analysis of changes in net debt

Cash
Loans falling due within 1 year
Loans falling due after 1 year
Total		 £
318,492
-
-
318,492
At 1 April
2024		 £
(222,528)
2,262
-
(220,266)
Cash
flows		 £
£
£
-
-
95,964
(13,888)
(2,390)
(14,016)
(166,112)
2,390
(163,722)
(180,000)
-
(81,774)
Non-cash
movements
At 31 March
2025
New
loans		 £
£
£
-
-
95,964
(13,888)
(2,390)
(14,016)
(166,112)
2,390
(163,722)
(180,000)
-
(81,774)
Non-cash
movements
At 31 March
2025
New
loans
(14,016)
(163,722)
(81,774)

14

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies

a) Basis of preparation and general information

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Bridge Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The Bridge Foundation is a registered charity, with its registered address at: 13 Sydenham Road, Bristol, BS6 5SH.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate due to the reasons as detailed in the trustees' annual report pp. 5-6. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of therapeutic service provision is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

15

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies (continued)

f) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

2025 2024
Raising funds 4.1% 4.5%
Charitable activities 95.9% 95.5%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Land and buildings

2% straight line basis.

Items of equipment are capitalised where the purchase price is, or exceeds, £1,000. The purchase price is deemed to be the individual price of each item (items purchased together where the individual purchase prices are < £1,000 but the price of the bundle is >£1,000 would not typically be capitalised).

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

16

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies (continued)

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1h.

17

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

2. Prior period comparatives: statement of financial activities

2. Prior period comparatives: statement of financial activities
Restricted
£
Income from:
Donations
-
Charitable activities
112,500
Other income
-
Total income
112,500
Expenditure on:
Raising funds
-
Charitable activities
97,500
Total expenditure
97,500
Net income and net movement in funds
15,000
3.
Income from donations
Restricted
£
£
Donations
-
17,090
All income from donations in the prior year was unrestricted.
Unrestricted		 £
48,726
831,182
1,035
880,943
43,259
813,599
856,858
24,085
2025
Total
£
17,090
Unrestricted		 2024
Total
£
48,726
943,682
1,035
993,443
43,259
911,099
954,358
39,085
2024
Total
£
48,726

4. Income from charitable activities

Therapy session fees
Grants
Contracts
Conference fees
Total income from charitable activities		 Restricted
£
-
114,500
-
-
114,500		 £
547,460
10,000
321,137
1,590
880,187
Unrestricted		 2025
Total
£
547,460
124,500
321,137
1,590
994,687

18

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

4. Income from charitable activities (continued) Prior period comparative:

Income from charitable activities (continued)
Prior period comparative:
Therapy session fees
Grants
Contracts
Conference fees
Total income from charitable activities		 Restricted
£
-
112,500
-
-
112,500		 £
525,645
-
302,964
2,573
831,182
Unrestricted		 2024
Total
£
525,645
112,500
302,964
2,573
943,682

5. Government grants

No government grants were received by the charity during the current or prior year.

6. Total expenditure

Staff costs (note 8)
Sessional staff and other staff costs
Advertising
Venue hire
Travel and subsistence
Professional fees
IT costs
Premises and office costs
Bank and card fees
Sundry
Bad debt
Finance cost
Sub-total
Total expenditure
Allocation of support and governance
costs		 Raising
funds
£
31,183
-
4,136
-
-
-
-
-
-
-
-
-
35,319
8,889
44,208		 Charitable
activities
£
767,686
38,145
-
-
-
11,864
-
-
-
-
-
-
817,695
205,791
1,023,486		 £
100,590
-
-
3,168
1,314
15,252
11,091
73,350
2,720
1,923
3,187
2,085
214,680
(214,680)
-
Support and
governance
costs		 2025 Total
£
899,459
38,145
4,136
3,168
1,314
27,116
11,091
73,350
2,720
1,923
3,187
2,085
1,067,694
-
1,067,694

Total governance costs were £8,100 (2024: £7,800).

19

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

6.
Total expenditure (continued)
Prior period comparative
Staff costs (note 8)
Sessional staff and other staff costs
Advertising
Venue hire
Travel and subsistence
Professional fees
IT costs
Premises and office costs
Bank and card fees
Sundry
Bad debt
Sub-total
Total expenditure
Allocation of support and governance
costs		 Raising
funds
£
29,510
-
4,210
-
-
-
-
-
-
-
-
33,720
9,539
43,259		 Charitable
activities
£
666,527
27,212
-
-
-
16,456
-
-
-
-
-
710,195
200,904
911,099		 £
100,354
-
-
3,399
3,739
25,086
7,488
65,348
2,985
1,061
983
210,443
(210,443)
-
Support and
governance
costs		 2024 Total
£
796,391
27,212
4,210
3,399
3,739
41,542
7,488
65,348
2,985
1,061
983
954,358
-
954,358

7. Net movement in funds This is stated after charging:

Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration (ex VAT):
Audit		 2025
£
29,033
Nil
Nil
6,750		 2024
£
28,655
Nil
Nil
6,500

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

20

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

8. Staff costs and numbers Staff costs were as follows:

Staff costs and numbers
Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs		 2025
£
827,326
55,833
16,300
899,459		 2024
£
735,947
47,495
12,949
796,391

No employee earned more than £60,000 during the current or prior year.

From March 2024 to December 2024, key management personnel of the charity comprised the trustees, Finance and Office Director, Schools Manager and BPS Manager. From 1 January 2025, key management personel comprised the trustees, Interim CEO, Interim School Manager, Interim BPS Manager, Finance and Operations Manager and Fundraising and Communications Manager. (2024: Trustees, Operations and Finance Director, Clinical Director and Clinical Lead for Bridge Psychotherapy Service and Clinical Director and Clinical Lead for Bridge in Schools). The total employee benefits of the key management personnel were £163,379 (2024: £134,661).

Average head count
Full time equivalent employees		 2025
No.
46.2
21.1		 2024
No.
42.6
19.9

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

21

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

10. Tangible fixed assets

Cost
At 1 April 2024
Additions in year
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 £
-
364,742
Land and
buildings
364,742
-
-
-
364,742
-

Included in land and buildings is £55,000 relating to the land element of the purchase that is not depreciated.

11. Debtors

Debtors
Trade debtors
Prepayments
Other debtors
Accrued income		 2025
£
57,828
9,183
-
73,248
140,259		 2024
£
58,700
7,034
4,384
88,030
158,148

12. Creditors : amounts due within 1 year

Creditors : amounts due within 1 year
Trade creditors
Accruals and other creditors
CAF Loan		 2025
£
1,501
31,752
14,016
47,269		 2024
£
162
32,399
-
32,561

22

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

13. Creditors : amounts due > 1 year

Creditors : amounts due > 1 year
CAF Loan
Analysis of debt maturity
Debt due after more than one year:
repayable between one and five years
repayable in five years or more		 2025
£
163,722
64,429
99,293
163,722		 2024
£
-
-
-
-

In 2024/25, the charity secured a loan of £180,000 from CAF Bank in order to finance the purchase of 12 Sydenham Road. The loan was secured at 5.5% interest over a period of ten years.

23

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

14. Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities
Net assets at 31 March 2025
Prior period comparative
Current assets
Current liabilities
Net assets at 31 March 2024
15. Movements in funds
At 1 April
2024
£
Restricted funds
Bridge in Schools
15,000
Quartet Property Fund
143,441
Total restricted funds
158,441
Unrestricted funds
General funds
285,638
Total unrestricted funds
285,638
Total funds
444,079		 Income
£
114,500
-
114,500
899,089
899,089
1,013,589		 £
-
-
-
-
£
158,441
-
158,441
£
(129,500)
-
(129,500)
(938,194)
(938,194)
(1,067,694)
Restricted
Restricted
Expenditure		 £
364,742
236,223
(47,269)
(163,722)
389,974
£
318,199
(32,561)
285,638
Transfers
£
-
(143,441)
(143,441)
143,441
143,441
-
Unrestricted
Unrestricted		 Total
funds
£
364,742
236,223
(47,269)
(163,722)
389,974
funds
funds
£
476,640
(32,561)
444,079
£
-
-
At 31 March
2025
-
389,974
389,974
389,974

24

The Bridge Foundation

Notes to the financial statements

For the year ended 31 March 2025

15. Movements in funds (continued)
Prior period comparative
Restricted funds
Bridge in Schools
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
Quartet Property Fund		 At 1 April
2023
£
-
143,441
143,441
261,553
261,553
404,994		 Income
£
112,500
-
112,500
880,943
880,943
993,443		 £
(97,500)
-
(97,500)
(856,858)
(856,858)
(954,358)
Expenditure		 £
15,000
143,441
At 31 March
2024
158,441
285,638
285,638
444,079

Purposes of restricted funds Bridge in Schools

Brings specialist mental health expertise to schools. The schools make a contribution to the cost of this service and the restricted element represents the fundraised amount from grant giving trusts and foundations.

Quartet Property

Funds originally received to purchase a building in 2023/24. The building purchase was delayed but completed in January 2025. Use of the restricted funds to purchase the building is shown as a transfer into general funds.

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2025
£
2,854
1,638
4,492		 2024
£
14,214
-
14,214

17. Related party transactions

There were no related party transactions in the current or prior year.

25