Charity Registration No. 1204201
BRIGHT SIDE
REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JULY 2024
BRIGHT SIDE
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | T Brown (Chair) (appointed 2 August 2023) |
|---|---|
| L Sachon (appointed 2 August 2023) | |
| A L J O'Neill (appointed 2 August 2023) | |
| T Basheer (appointed 2 August 2023) | |
| Charity number | 1204201 |
| Registered office | Carpenter Box |
| Amelia House | |
| Crescent Road | |
| Worthing | |
| BN11 1RL | |
| Independent examiner | RSM UK Tax and Accounting Limited |
| Chartered Accountants | |
| Davidson Square | |
| Forbury Square | |
| Reading | |
| Berkshire | |
| RG1 3EU | |
| Accountants | RSM UK Tax and Accounting Limited |
| Chartered Accountants | |
| 4th Floor | |
| 100 Avebury Boulevard | |
| Milton Keynes | |
| Buckinghamshire | |
| MK9 1FH |
BRIGHT SIDE
TRUSTEES' REPORT
FOR THE YEAR ENDED 1 JULY 2024
The trustees present their report and unaudited financial statements for the year ended 1 July 2024. The charity is registered with the Charity Commission, Charity No. 1204201 and the registered office is Carpenter box, Amelia house, Crescent road, Worthing, BN11 1RL.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
Structure, objects and governance
Structure
Bright Side was set up on 2 July 2023 as a Charitable Incorporated Organisation (CIO) and is now a registered charity in England and Wales, with the charity number 1204201.
Objects
The objects of the charity are to further such exclusively charitable purposes under the laws of England and Wales as the charity trustees see fit from time to time in particular but not limited to the relief of those in need, by reason of youth, ill-health, financial hardship or other social or economic disadvantage.
Governance
The charity is governed by its Constitution dated 3 July 2023.
The trustees are appointed by the Board of Trustees. The Constitution provides for a maximum of 12 trustees and a minimum of 3. Apart from the first charity Trustees the Trustees are appointed by the existing Board of Trustees for a term of 3 years.
The first charity trustees who served the charity during the year and up to the date of the signing of the report are as follows:
Tobit Brown Lisa Sachon Aaron Luke John O’Neill Tahir Basheer
Training of trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment:
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a copy of the current version of this constitution
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the latest Trustees' Annual Report and financial statements
As the charity develops and appoints further new trustees the skillset of new trustees will be reviewed and an appropriate program of training developed for the new trustee based on the findings of this review.
In the case that the charity is wound up, the trustees of the charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Objectives and activities
The main activities undertaken in relation to the purposes of the Charity, as per its governing document are those of grant-making, in particular supporting charities whose work has a demonstrable benefit to help people find and maintain a safe place to call home and help young people access the education, spaces and opportunities that every person deserves. The Trustees have worked with Greenwood Place Limited (Greenwood Place) to help them put in place a clear and robust process for decision making and grant management. Bright Side undertakes a proactive approach to grant-making and unrestricted grants are offered to select organisations whose activities align with this focus. The Charity monitors the beneficiaries of the grants to ensure that funds are spent in line with its charitable objectives, including, but not limited to, six monthly reviews and annual reports on the use of funds and progress in their respective areas. During Bright Side's first year of operation the charity was one of the beneficiaries of the Sidemen Charity Match 2023.
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BRIGHT SIDE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 JULY 2024
Achievements and performance
The trustees have formulated a grant-making policy and have researched appropriate issues and organisations for their grant-making.
During the year, grants totalling £50,000 were made to the following organisations:
Football Beyond Borders (FBB):
FBB works with young people from areas of socio-economic disadvantage who are passionate about football but disengaged at school, to help them finish school with the skills and grades to make a successful transition into adulthood. They do this by providing long-term, intensive support, built around relationships and young people’s passions, in the classroom and beyond. 2,000 young people are currently supported by FBB with 95%finishing the year in school.
OnSide Youth Zones:
OnSide is a national youth charity that believes all young people should have the opportunity to discover their passion and their purpose. Their mission is to empower young people to lead positive, fulfilling lives by providing access to incredible spaces and exceptional youth work, delivered by outstanding people, where they are needed the most. 50,000 young people are supported by OnSide youth zones ever year, with over 650,000 visits to youth zones per year.
Public Benefit
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.
Financial review
The main source of income for the charity during the period was donations received from the charity football match totalling £192,894, and the main form of expenditure for the charity was the grants paid of £50,000. At the period end net income for the year was £116,017 consisting of unrestricted income of £225,047 and expenditure of £109,030. Retained funds at the period end were £116,017 consisting of unrestricted funds only.
Reserves policy
The reserves policy is to maintain sufficient reserves to pay for any recurring admin costs. The funds that are in excess of this level are paid out as part of the charity's grant making program. The charity does not currently commit to multi year grants and therefore only commits available funds to grants paid out during the financial period.
This is the charity's first year of operation and as such the activities have been limited, as the charitable activities of Bright Side expand the Trustees will look to develop a more formal and forward looking reserves policy.
Connected organisations
As previously noted, the main source of income for the charity is a donation received from Nemedis Limited. Nemidis Limited manages the production of the Sidemen charity football matches that Bright Side is a beneficiary of.
Sidemen Entertainment Limited has provided support to the charity during the year in the form of management and administrative support. Tobit Brown, a Trustee of the charity , is a director of Sidemen Entertainment Limited.
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BRIGHT SIDE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 JULY 2024
Risk management including principal risks and uncertainties
The affairs of the Charity are currently on a small scale and are handled directly by the Trustees. The key risks are maintained in a risk register and are regularly reviewed by the Trustees and actions taken to mitigate risks as needed.
Plans for the Future
The Charity has been nominated as a beneficiary for the Sidemen Charity Match 2025 taking place in March 2025. It is expected that this will bring further income into the charity that will be used to continue to support organisations and initiatives that align with the Objects and strategy of Bright Side.
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..............................
A L J O'Neill
Trustee
11/03/25
Dated: .........................
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BRIGHT SIDE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 1 JULY 2024
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).
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 of the incoming resources and application of resources of the charity for that year.
In preparing these 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 governing constitution. 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.
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BRIGHT SIDE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIGHT SIDE
I report on the financial statements of Bright Side ("the Charity") for the year ended 1 July 2024, which are set out on pages 7 to 11.
Respective responsibilities of trustees and examiner
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Kerry Gallagher
Kerry Gallagher FCA DchA
The Institute of Chartered Accountants in England & Wales
ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants Davidson House Forbury Square Reading Berkshire RG1 3EU
24/04/25 Dated: .........................
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BRIGHT SIDE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 1 JULY 2024
| Unrestricted | ||
|---|---|---|
| funds 1 July | ||
| 2024 | ||
| Notes | £ | |
| Income from: | ||
| Donations and legacies | 3 | 224,894 |
| Investments | 4 | 153 |
| Total income | 225,047 | |
| Expenditure on: | ||
| Charitable activities | 5 | 109,030 |
| Total expenditure | 109,030 | |
| Net income and net movement in funds | 116,017 | |
| Total funds brought forward | - | |
| Total funds carried forward | 116,017 |
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Charity Registration No. 1204201
BRIGHT SIDE
BALANCE SHEET
AS AT 1 JULY 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Funds Unrestricted funds |
2024 £ 11,250 119,517 130,767 (14,750) |
£ 116,017 |
|---|---|---|
| 116,017 | ||
| 116,017 |
11/03/25 The financial statements on pages 7 to 12 were approved by the Trustees on ......................... and signed on its behalf by:
.............................. A L J O'Neill Trustee
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BRIGHT SIDE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JULY 2024
1 Accounting policies
Charity information
The full name of the charity is Bright Side and its principle operating address is Carpenter Box, Amelia House, Crescent Road, Worthing, BN11 1RL. The Trust is a charity registered in England and Wales by the Charity Commission (Charity No. 1204201).
Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, 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)” (as amended for accounting periods commencing from 1 January 2019).
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS102.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. There are no restricted or designated funds at present.
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Gifts in kind are included in the statement of financial activities at a reasonable estimate of their value at the time they are utilised by the charity. An equivalent amount is recognised as charitable expenditure.
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BRIGHT SIDE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 JULY 2024
1 Accounting policies (Continued)
Expenditure
Expenditure is accounted for on an accruals basis. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting constitutional and statutory requirements of the charity.
Grants
Grants payable are agreed by the Trustees, as detailed in the Trustees' Report. The liability is included in the accounts once a commitment has been made and communicated to a beneficiary and any performance commitments have been met.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks.
Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets or financial liabilities.
Basic financial assets
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, including trade creditors and accruals are initially recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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BRIGHT SIDE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 JULY 2024
| 3 Donations and legacies Donations Donated goods and services 4 Investments Interest receivable 5 Charitable activities Direct costs: Grant funding of activities (see note 6) Grant admin support Staff costs Support costs: Staff costs Admin support Website design Bank charges Marketing Governance costs |
2024 £ 192,894 32,000 |
|---|---|
| 224,894 | |
| 2024 £ 153 |
|
| 2024 £ 50,000 19,125 9,000 |
|
| 78,125 21,000 3,375 1,000 30 2,000 |
|
| 27,405 3,500 |
|
| 109,030 |
Governance costs includes payments to the independent examiners, RSM UK Tax and Accounting Limited of £1,250.
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BRIGHT SIDE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 JULY 2024
6 Grants payable
| Grants to institutions: Football Beyond Borders OnSide Youth Zones |
2024 £ 25,000 25,000 |
|---|---|
| 50,000 | |
| All grants were awarded and paid during the year. |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses from the charity during the year.
8 Employees
Management and administration support is provided by an individual whose costs of £30,000 are covered by another organisation. These have been included as a donation in kind with an equal amount included in expenditure.
| Employment costs Wages and salaries 9 Debtors Amounts falling due within one year: Prepayments 10 Creditors: amounts falling due within one year Trade creditors Accruals |
2024 £ 30,000 |
|---|---|
| 2024 £ 11,250 |
|
| 2024 £ 11,250 3,500 |
|
| 14,750 |
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