BRIDGECARE LIMITED
Financial Statements
For the year ended 31 March 2025
COMPANY NUMBER 2001246
CHARITY NUMBER 299400
Registered with the Regulator of Social Housing No L3921

BRIDGE CARE LIMITED
Contents of the financial statements
For the year ended 31 March 2025
Page
Trustees, report - statutory information
Trustees, report
7-10
Independent auditor's report
li
Statement of comprehensive income
12
Balance sheet
13
Statement of cash flows
14-27
Notes to the fi nanci a I statements

BRIDGE CARE LIMITED
Trustee's report - statutory information
For the year ended 31 March 2025
DIRECTORS AND TRUSTEES
Andrew Symonds (appointed l October 20241
Alan Copeman lappointed l October 20241
John Edwards (appointed l October 20241
Sheila Warnes (appointed l October 20241
Tilly Wood (resigned l October 2024 and appointed 10 October 20241
Graham Barber (resigned l October 20241
Paul Booth (resigned l October 20241
Timothy Dewes Iresigned l October 2024)
Acharity trustees, indemnity insurance policy is maintained bythe group of charities.
COMPANY SECRETARY
Julian Hillman
REGISTERED OFFICE
175 Tower Bridge Road
London
SEI 2AL
COMPANY NUMBER
CHARITY NUMBER
2001246
299400
BANKERS
Lloyds Bank plc
25 Gresham Street
London
EC2V 7HN
AUDITORS
Xeinadin Audit Limited
Chartered Accountants
5Robin Hood Lane
Sutton
Surrey SMI 2SW
KEY MANAGEMENT PERSONNEL
The Key Management Personnel of the charity were the Trustees and the members of the Senior Management
Team of Pilgrims, Friend Society, whose names and responsibilities are listed below..
Stephen Hammersley
Maureen Sim
Hugh Lambourne
Joshua Field
Julian Hillman
Alexandra Davis
Chief Executive Officer
Director of Operations
Director ofProperty Services
Directorof Human Resources
Director of Finoiice
Directorof Marketing and Communicotions
Page I

BRIDGECARE LIMITED
Trustee's report
For the year ended 31 March 2025
The trustees are pleased to present their report, together with the financi31 statements of the charityforthe year
ended 31 March 2025. The trustees, report incorporates the directors, report prepared for the purposes of
company law.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The results of all group entities a re consoli dated i n the accounts of The P i Igri ms Friend Group. The trustees make
significant decisionsforthe running of the charity. Responsibility forthe day-to-day operations of thech3rity is
delegated to the Chief Executive and Senior Management Team of Pilgrims, Friend Society which has been the
main operating charity forthe group.
The Pilgrim Friends Group was established to research the market for charitablesupport for older people and to
commend to allcharitieswithin the groupappropriate strategiesandpolicies. BridgeCareLimited trustees have
adopted these for the Bridge Ca re Limited charity.
The charity is constituted as a company limited by guaranteeand is therefore governed by a memorandum and
articlesofassociation. It has no share capital. Theextent of the guarantee ofthe Trustees is £1 each.
From l October2024, Bridge Carejoined The Pilgrims Friend Group as a IOOO/o subsidiary ofThe Pilgrims Friefid
Group.
OBJECTIVES AND ACTIVITIES
The charity's object and its principal activity continLses to be that of operating a high-quality purpose-built
residenti a I home for the fra i l a nd elderly in Bath. The fi rst resi dents moved i n duri ng Ma rch 1992. The home
provides a mix of residential and nursing carefor up to 32 residents. One room is set asidefor Respite Care. Aday-
care seNice (Day Clubl is also normally provided on weekdays.
The charity'strustees have considered the guidanceregarding public benefit when considering and planning its
objectives and activities for the yea r.
ACHIEVEMENTS AND PERFORMANCE
The charityjoined the Pilgrims, Friend Society IPFSI family on l October 2021. This means thatthe Bridgemead
residential care home is sUPPOrted by the team from PFS and the governance of the charity sits within the
governance framework ofthe PFS family.
The home has been well used during the year and many people have been blessed by the care provided and
Christian ethosof the home. A significant projectto protectthe home from floorrisk wasstarted overseen bythe
PFS Property Service team, drawing on the excellent preparatory work done by John Todman and others who
were trustees priorto l October 2025.
More detail or) the performance of the PFS family of charities can be seen in the report and accounts of The
Pilgrims Friend Group charity,
FINANCIAL REVIEW
The Statement of Comprehensive Income shows an operating surplus of £50k12024: a deficit of £179kl. This
improvement was driven by stronger occupancy. After adjusting for interest receivable and net gains on
i nvestments the surplus for the yea r is £67k12024.' a deficit of £44kl.
Page 2

BRIDGECARE LIMITED
Trustees, report {continued)
For the year ended 31 March 2025
Total funds increased to £1,565k12024.' £1,448kl of which £135k were restricted resexves12024'. £102kl. Cath at
bank and in hand was £1,066k12024: £176kl as investments were realised in anticipation of starting the capitsl
project to improve the flood defences as outlined below.
The key event in the year wasstarting a £1.7m project to enhancethe protection of residents from flooding. This
waspartfunded by cashthatthecharityhadavailablewiththebalancecomingfroma loanfrom Pilgrims, Friend
Society IPFSI.
INVESTMENT POLICY
During the yearthe charity re31ised its investments as its share ofthe projected £1.7m cost of the flood defence
scheme. The charity's investments are detailed in note 10 to these accounts.
RESERVES POLICY
As part ofthe PFSfamilythe charitysitswithin reservesframework forthe PFSfamily. Thecha rity expectsto have
three months operating costs available as reserves available from its own resources or as a commitment from
other PFS group charities.
TRUSTEE RECRUITMENT AND TRAINING
Trustees are appointed at a Boa rd meeting followi ng a nomination process. Candidates must meet a strict set of
specificationsconcerning personalcompetence,specialistskills, availabilityandchristian belief. OncetheBoard
a nd new trustee decide to proceed with a forma l a ppoi ntme nt there follows an i nduction peri od to fa mi li a rise the
new trustee with the charity'soperations. Newly appointed trustees meet with the ChiefExecutive and members
of the Senior ManagementTeam to provide an introduction to the affairsofthe charity, key operational methods
and the current strategic plan. Trustee performance is subject to an annual review.
RISK MANAGEMENT
Thecharitysitswithintheriskframework forthe PFSgroupasdetailed in the report and accountsofThe Pilgrims
Friend Group charity. A comprehensive register of risks is maintained which is reviewed by Key manageM￿t
Personnel at their monthly meetings and by trustees at every trustee meeting. Risks are rated as to both their
likeli hood a nd severity.
Within thisframework, theTrustees haveassessed the majorrisksto whichthecharity isexposed and aresatisfiÈxl
that systems are in place to mitigate exposure to the major risks.
The majorriskstothe Charityare setout in the report for The Pilgrims Friend Group, andthose risks most relevant
to the cha rity a re:
a drop in bed occupancy leading directly to a reduction in fee income, This is mitigated by regular
monitoring of occupancy and tight financial control.
inability to maintain adequate staffing levels due to well documented pressures within the care sector.
proximity of the RiverAvon and the attendant flood risk pending the completion of the defence works.
Regular reviews and training of staff take place in relation to all emergency procedures.
Page3

BRIDGE CARE LIMITED
Trustees, report (continued)
For the year ended 31 March 2025
KEY MANAGEMENT PERSONNEL
The key management personnel of the charity (all of whom are employed by Pilgrims, Friend Society, a fellow
member of the Pilgrims Friend Group, are listed on page 11 are in chargeof directing, controlling, running and
operating the charity on a day-to-day basis. Details oftheir remuneration and expenses reimbursed, and other
related pa rty tra nsactions are disclosed i n Note 8 to the fi na ncia I statements of the P i Igri m Friends Group. Their
pay is reviewed annually,
FUNDRAISING POLICY
Bridgecare Limited does notsolicitdonation separatefromthefundraising undertaken by Pilgrims, Friend Sociay
IPFSI. PFSdoesnotemployoutsideorcommercial fund-raisers. PFSmakessurethatsupporters ofthe PFSfamily
are kept up to datewith our work and thatthey can giveto support it. PFS issues a magazinetwice a year and
solicits prayer for the work of the charity, Both the magazine and the prayer updates issued by the charity may
includemention offinancial needs. Nocomplaintshavebeen received intheyearaboutourfundraising, Pilgrims,
Friend Soci ety is registered with the Fu ndra isi ng Regu lator.
VALUE FOR MONEY STATEMENT
The charityhasassessed howithasachievedvaluefor money indeliveringits purposes and objectivesduringthe
year. Competitive tenders from a minimum of three providers are always sought for new projects and existing
contracts are regularly reviewed to ensure ongoing value for money.
VALUE FOR MONEY METRICS
Metric
Reinvestment 0/0
New supplydelivered 0/0 Isocial housin
units)
New supplydelivered % (non-social housin
units)
Gearin
EBITDA MRI interest cover 0/0
Headline social housin
cost per unit
Operatin
mar
in 0/0 Isocial housin
only)
Operating margin 0/0 {all units)
ROCE 0/0
2025
1.780/0
0%
2024
0.490/0
Benchmark
7.300/0
1.50Wo
0.220/0
45.80010
169.000/0
£4,120
34.30010
29.700/0
4.30%
2a
2b
00/0
-21.65 %
NIA
£44,900
14.48010
-8.920/0
-10.75Wo
-135.280/0
NIA
£68,300
6b
2.25%
Page4

BRIDGE CARE LIMITED
Trustees, report (continued)
For the year ended 31 March 2025
RELATED PARTIES
The trustees of the charity consider the following to be related parties:
l. Key Management Personnel of Pilgrims, Friend Society
2. Thefollowing charities:
a. The Pilgrims Friend Group Icharity no. 1134979, company no. 71698751
b. Pilgrims, Friend Society Icharity no. 1045920, company no. 30270711
c. Pilgrim Homes Trust (charity no. 1183226, company no. 116856241
d. Pilgrim Homes (charity no. 2422661
e. Strathclyde House Trust (charity no. SC025550, company no. SC1698481
3. Homesdale {Woodford Baptlst Homes) Limited - Cooperative & Community Benefit Society No 13406R
4. PFG Trading Limited - a limited company Ino. 011237991
5. Aged Pi Igrims, Friend Society Trust Li mited - a li mited compa ny Ino. 008101681 which holds title to the
properties owned by Pilgrim Homes Trust.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees Iwho are also directors of Bridgecare Limited for the purposes ofcompany lawl are responsible for
preparing the Trustees, Report lincorporati ng the directors, report) and the financial statements in accordance
withapplicablelawand United KingdomAccountingStandards, includingFinancial Reporting Standard 102: The
Financial Reportingstandard applicoble in the UKand Republic of Ireland (United Kingdom Generally Accepted
Accounting Pr3Cticel.
Compa ny a nd Housi ng Associati on legislation requi res the trustees to prepa re fi na nci a I statements for each
financial yearwhich give a true and fairview ofthe state ofaffairs of the charitablecompany and ofthe income
and expenditure, of the cha rita ble compa ny for that peri od. In prepari ng these fi na nci a I statements, the trustees
are required to:
select su ita ble accounti ng policies a nd then a pply them consistently.
obseNe the methods and principles in the Housing SORP.
make judgments and accounting estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in thefinancial statements, and
prepare the fi nancial statements on the goi ng concern basis unless it is ina ppropriate to presume that the
charitable companywill continue in business.
Thetrustees areresponsiblefor maintaining properaccounting recordswhichdisclosewith reasonableaccur3Cy
at any time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the CompaniesAct 2006, the Housing and Regeneration Act 2008, Accounting Direction
for Private Registered Providers of Social Housi ng in England 2022 and the Statement of Recommended Practice
for Registered Social Housing Providers (Housing SORP 20181. They are also responsible for safeguarding the
assets ofthe charitablecompanyand hencefortaking reasonablesteps for the prevention and detection of fraud
and other irregula riti es.
Page5

BRIDGE CARE LIMITED
Trustees, report (continued)
For the year ended 31 March 2025
STATEMENTOF DISCLOSURE TO AUDITOR
Sofar aseach person who was a trusteeat the date of approving this report is aware, there is no relevant audit
information of which the charity's auditoris unaware. Additionally, thetrustees individually havetaken all the
necessary steps thatthey oughtto havetaken astrustees in order to make themselves awareofall relevant audit
information and to establish thatthe charity's auditor isaware ofthat information.
AUDITORS
Xeinadin Audit Limited were the charitable company's auditors during the year and have expressed their
willingnessto continue in that capacity,
The above report is prepared in accordancewith the special provisions relating to small companieswithin Part
15 of the Companies Act 2006.
Approved by the tru5tee5 and signed on their behalf by
A Copeman
Trustee
Date.. 17 July 2025
Page 6

BRIDGECARE LIMITED
Independent auditor's report to the trustees of Bridge Care Limited
For the year ended 31 March 2025
OPINION
We have audited the financial statements of Bridge Care Limited Ithe charity) for the year ended 31 March 2025
which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement ofcash Flows and
the notes to the fi na ncia I statements, i ncludi ng a summa ry of si gnifica nt accounti ng policies. The fi nancial
reporting framework that has been applied in theirpreparation isapplicablelaw and United KingdomAccounting
Standards, including Financial Reporting Standard 102 The FinanciGIReporting Standardapplicablein the UKond
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
I n our opi nion the fi na nci a I statements..
give a true and fairview of the state of the charitable company's affairs asat 31 March 2025 and of its
income and expenditurefortheyearthen ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and
Regeneration Act 2008 and the Accounting Di rection for P rivate Regi stered Providers of Soci a l Housi ng in
England 2022.
BASIS FOR OPINION
We conducted our auditin accordancewith International Standards on AuditinglUKI IISAs{UKII and applicable
law. Our responsi bi lities underthose sta nda rds are further descri bed i n the Auditor's responsi bil ities for the a udit
of the financial statements section ofour report. We are independent of the charitable company in accordance
withthe ethical requirements that are relevant to our auditof the financial statements in the UK, includingthe
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. Webelievethattheauditevidencewehaveobtained issufficientandappropriatetoprovidea bags
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
accou nting i n the prepa ration of the fi na nci a I statements is a ppropri ate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditionsthat, individually orcollectively, may cast significant doubt on the charity's abilityto continue as a
going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsi bi liti es and the responsi bi lities of the trustees with respect to going concern a re described i n 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 directors are responsible for the other information containcd
within the annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwiseexplicitlystated i n our report, wedo not express anyform of assuranceconclusion
thereon.
Page 7

BRIDGE CARE LIMITED
Independent auditor's report to the trustees of Bridge Care Limited (continued)
For the year ended 31 March 2025
Our responsibility is to read the other i nformation a nd, in doi ng so, consider whether the other i nformation is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appea rs to be materi a Ily misstated. If we identify such materia l i nconsistencies or a ppa rent material
mi sstatements, we a re requ i red to determi ne whether thi s gives rise to a materi a I misstatement i n the fi na ncial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement ofthis other information, we are required to report that fact,
We have nothing to report in this regard.
OPINIONS ON OTHER mA￿ERs PRESCRIBED BYTHE COMPANIES ACT2006
In ouropinion, based on the work undertaken in the course ofour audit:
the information given in the Trustees, Report, which includes the directors, report prepared for the
purposes of company law, for the financial year for which the financial statements are prepared is
consi stent with the fi na nc ia I statements., a nd
the Trustees, Report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUI RED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the charityand its environment obtained in the course ofthe
a udit, we have not i dentified materia I mi sstatements i n the directors, report i ncluded with the trustees, report.
We have nothingto report in respect ofthe following matters in relation to which the Companies Act 2006 or the
Housing and Regeneration Act 2008 requires usto report to you if, in ouropinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received 311 the information and explanationswe requireforour audit.
the trustees were not entitled to prepa re the fi nancia I statements i n a ccorda nce with the smal I
companies regime and take advantage ofthe small companiesexemptions in preparing the trustees
report and from the requirement to prepare a strategic report.
In addition, we have nothing to report in respect ofthe following matter where the Housing and Regeneration
Act 2008 requires usto report to you if, in ouropinion.,
a satisfactory system of control over transactions has not been maintained.
RESPONSIBILITIES OF TRUSTEES
As explained more fully i n the trustees, responsi bilities statement, the trustees (who are a Iso the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for bei ng satisfied that they give a true and fa i rview, and for such i nternal control as the trustees
determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In prepa ri ng the fi nancial statements, the trustees a re responsi ble for assessi ng the charity's a bility to continue
as a goi ng concern, disclosi ng, as a pplica ble, matters related to goi ng concern and usi ng the goi ng concern basis
of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no
rea listic a Iternative but to do so.
Page 8

BRIDGE CARE LIMITED
Independent auditor's report to the trustees of Bridge Care Limited (continued)
For the year ended 31 March 2025
AUDITOR'S RESPONSIBILITIES FOR THE AUDITOF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 145 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 guaranteethat an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists.
M isstatements can arise from fra ud or error and a re considered materia l if, i ndividua Ily or i n the aggregate, th
could reasona bly be expected to i nfluence the economic deci sions of users ta ken on the basis of these fi na ncial
statements.
The extent to which our procedures are ca pable of detecti ng i rregula rities, i ncludi ng fra ud i s detailed below:
Basedon our understandingof the charity,weidentifiedthatthe principal risksof non-compliancewith lawsand
regulations related to cha rity, fina ncial reporti ng legi slation, hea Ith & safety regulations a nd we considered the
extent to which non-compliance might have a material effect on the financial statements. We also considered
those lawsand regulationsthat havea direct impact on the preparation ofthefinancial statements such asthe
Charities Act 2011, the Companies Act 2006 and the Housing and Regeneration Act 2008.
We assessed the suscepti bi lity of the cha rity's fina nci a I statements to materia I misstatement, i ncluding obta ining
an understandi ng of how fraud might occur, by making enquiries of management, considering the internal
controls in place and discussion amongst the engagement team.
We determined that the principal risks were related to:
accounting measurements of property
fraudulent extraction of cash or payment of fake invoices.
valuation of investments. and
disclosure of ca pita I commitments or provisions
In response to the risks identified we designed procedures which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation
identifying and reviewingjournal entries
discussions with management and review of legal correspondence
reviewing Trustees, meeting minutes
obtaining third party evidence for the valuation of investments. and
eva luati ng the charity's internal controls
There are inherent limitations in the audit procedures described above. The more removed that laws
regulationsare from financialtransactions,theless likely it is thatwewould become awareof non-compliance
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as th
may involve deliberate concealment or collusion.
A further descri pti on of ou r responsi bilities for the a udit of the fi nancial statements i s located on the Financial
Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our
auditor's report.
Page9

BRIDGE CARE LIMITED
Independent auditor's report to the trustees of Bridge Care Limited (continued)
For the year ended 31 March 2025
USE OF OUR REPORT
This report is made solelyto the charitablecompany's members, as3 body, in accordancewith Cha pter3 of Part
16 ofthe CompaniesAct2006 and regulationsmade underthatAct.Our auditwork has been undertaken so that
we might state to the charitable company's members those matters we are required to state to them in an
auditors, 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 charitable company and its members as a body, for our audit work, for
this report, or for the opinions we have formed.
Paul Ne
on
CA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
5 Robin Hood Lane
Sutton
Surrey
SMI 2SW
Chartered Accountants
Statutory Auditor
Date: l 8 3. 2olS
Page 10

BRIDGE CARE LIMITED
Statement of Comprehensive Income
For the year ended 31 March 2025
2025
2024
£000
Note
£000
£000
£000
Turnover
2,224
2,007
Operating expenditure
2,3,4
Operating surplusl{deficitl
50
1 1791
Interest receiva ble
Net gains on investments
Other income
io
22
85
Surpluslldeficit) for the year before taxation
117
1 441
Taxation
Surpluslldeficitl forthe year
117
All ofthe activities are continuing. There were no recognised gains or losses other than those stated above.
The Statement of Comprehensive Income was approved by the Trustees on 17 July 2025 and signed on their
behalf by:
A Copeman
Trustee
J Edwards
Trustee
The notes on pages 14 to 27 form part ofthese financial statements.
Pagell

BRIDGE CARE LIMITED
Balance sheet
As at 31 March 2025
2025
2024
£000
Note
£000
£000
£000
Fixed assets
T3 ngible a ssets
Investments
792
818
io
792
1,505
Current assets
Stocks
Debtors and prepayments
Cash atbankand in hand
li
12
151
219
17
1,217
400
Creditors.. Amounts falling due
within one year
13
Net current assets
978
Total assets less cu rrent liabilities
1,770
1,665
Creditors: Amounts falling due
after morethan oneyear
14
Net assets
Capital and reserves..
General reserves
Restricted reserves
16
1,430
135
1,346
Total Funds
Th financial statements were approved by the Trustees on 17 July 2025 and signed on their behalf by..
opeman
Trustee
J Edwards
Trustee
Company Registration No: 2001246
The notes on pages 14 to 27 form part ofthese financial statements.
Page 12

BRIDGE CARE LIMITED
Statement of cash flows
For the year ended 31 March 2025
2025
£000
2024
£000
Cash flows provided byl{used in) operating activities
Trading and donations
Surplus/ldeficitl fortheyear
I nterest a nd dividends i ncluded i n i nvesti ng activities
Depreci ation
Net gains on investments
Net cash provided by/{used in) trading ond donations
117
io)
40
1 441
i i)
40
125
Working capital movements
Decreasellincreasel i n stocks
Decreasellincreasel i n debtors
{Decreaselli ncrease in creditors
Net cash provided by working copital movements
i)
131
68
72
Net cash provided byl{used in) operating activities
197
Cash flows from investing and financing activities
Tangible fixed ossets
Payments on additions oftangible f1xed assets
Proceeds on disposal of tangible fixed assets
Net cosh (used in) tangible fixed assets
141
{ 41
Fixed osset investments
I nterest and dividends received
Proceeds on disposal of fixed asset investments
Net cash provided by fixed osset investments
io
709
Finoncing octivities
Repayment of grants
Net cash {used in) financing activities
Net cash provided by investing and financing activities
693
85
Net cash inflow
Cash and cash equivalents at l April 2024
890
176
40
Cash and cash equivalents at 31 March 2025
066
176
The notes on pages 14 to 27 form part of these financial statements.
Page 13

BRIDGE CARE LIMITED
Notes to the financial statements
For the year ended 31 March 2025
ACCOUNTING POLICIES
The company is registered as a charitable company limited by guarantee incorporated in England and Wal
and is governed by its Memorandum and Articles of Association. Its registered office is 175 Tower Bridge
Road, London SEI 2AL,
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparati on of the fi nancia I statements a re as follows..
la. Basis of accounting
These financial statements have been prepared in accordance with applicable accounting standards
including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS
102,1, the provisions of the Statement of Recommended Practice for Registered Social Housing Provider5
20181"Housing SORP"), "Accounting and Reporting by Charities" the Statement of Recommended Practice
forcharitiesapplying FRS102, the Housingand RegenerationAct2008, the Accounting Directionfor Private
Registered Providers ofsocial Housing in England 2022, the CompaniesAct 2006, the CharitiesAct 2011 and
UK Generally Accepted Accounting Practice. Thecharity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which isthefunctional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £1,000.
The financial statements have been prepared on the historical costconvention, modified to include certain
i nvestments a nd fi na ncia l i nstruments at fai r va lue.
Ib. Consolidation
Thischarity isa qualifyingentityfor the purposes of FRS 102, beinga member of a groupwherethe parent of
that group prepares publicly availableconsolidated financial statements, including this charity, which are
intended to give a true and fairview of the assets, liabilities, financial position and surplus or deficit of the
group. The charity has therefore taken advantage of exemptions from the requirement to disclosure
transactions with other group undertakings,
The financial statements of the charity are consolidated in the financial statements of The Pilgrims Friend
Grou p. These consolidated fi na ncia I statements a re ava i la blefrom its registered office at 175 Tower Bri dge
Road, London SEI 2AL.
Ic. Going concern
Atthe timeof approvingthefinancial statements, thetrusteeshavea reasonableexpectation that thecharity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounti ng in preparing the financial statements.
Id. Tangible fixed assets
Fixed assets a re recorded at h istoric cost. Expenditure on exi sti ng properties is ca pita li sed when works result
in an enhancement of economic benefits of the asset, Other expenditure on the properties is charged to the
incomeand expenditure account. Whereappropriate, thehistoriccost less accumulated depreciation of ary
replaced components is released from the asset and recognised as a loss on disposal.
Page 14

BRIDGECARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
ACCOUNTING POLICIES {continued)
Id. Tangible fixed assets {continued)
Thecharityhasdeveloped a singlebuilding. Onlylorooms out of32 areclassifiedas housing propertyby the
Homes and Communities Agency. All costs of development have been allocated proportionate to cost as
calculated by the Quantity Surveyor. Costs include:
Cost of land acquisition
Cost of bui Idi ng construction
Interest charged on loans during the development phase, and
Development expenditure
b}
dl
Expenditureon existing properties iscapitalised when works result in an enhancement ofeconomic benefits
of theasset. Where appropriate, the historic cost lessaccumulated depreciation of any replaced components
is released from the asset and recognised as a loss on disposal.
All invoices and a rchitects, certificates relati ng to ca pita l expenditu re i ncurred in the yea r at net va lue after
retentions a re i ncluded i n the fi na ncial statements for the year, provided that the dates of issue or va luation
are prior to the year-end.
Depreciation is provided on alltangiblefixed assetsat ratescalculatedtowriteoff the cost orvaluation, le
esti mated residua I va lue, of each asset over its expected useful li fe. The followi ng rates a re used on a stra ight-
line basis:
Land
Buildings
Bathrooms and lifts
Boi lers
Furniture and equipment
Hard landscaping
Computei equipment
50 yea rs
20 years
15 years
5- Ioyears
5years
4years
le. Income
Rental and ancillary income is recognised on the basis of when the service was provided to the resident.
Voluntary income and donations (including legacies) are accounted foroncethe charity has entitlementto
the income, it Is probable the income will be received and the amount of income receivablecan be reliably
measu red. Where material a ssets a re donated to the cha rity for its use, these a re ca pita lised at the esti mata
market value at the date ofthe gift and included under income.
Government Grants (including Social Housing Grant) is recognised under the accrual model as a grant
relatingto assets in incomeon a systematic basis overthe expected useful life ofthe housing property assets
Page 15

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
ACCOUNTING POLICIES (continued)
If. Expenditure
Expenditure is accrued assoon as a liability is considered probable, discounted to present value for longer
term lia bilities. C ha rita ble ex penditure i ncludes all support costs i n respect of the cha rity's activiti es.
Ig. Governance costs
Thi s comprises expenditure on compliance with statutory lega I requi rements a nd is i ncluded i n cha ritable
a ctivities.
Ih. Stocks
Stocks arevalued atthe lowerof cost and net realisablevalue on an item by item basis of first in first out.
li. Leases
Rentals payable under operating leases are dealt with on a straight-line basis over the lease term. Total lease
repayments have been disclosed over the rema ining life of the lease.
lj. Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in
furtherance ofthe general objectives ofthe charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. The aim and use of each designated fund are set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordancewith specific restrictions imposed by donors.
The aim and useofeach restricted fund areset out in note 16to thefinancial statements.
Ik. Fixed asset investments
Listed i nvestments a re stated at fa i r va lue. Ga i ns a nd losses a risi ng from reva luation a re recogn i sed in the
Statement of Fina ncial Activities.
11. Debtors
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
Im. Cash and cash equivalents
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of
three months or less from the date ofopening of the deposit.
Page 16

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
ACCOUNTING POLICIES (continued)
In. Creditors and provisions
Creditors and provisions arerecognised where the charity hasa present obligation arisingfrom a past event
that will probably result i n the tra nsfer of funds to a thi rd pa rty a nd the a mount due to settle the obli gation
can be measured or estimated reliably, Creditors and provisions arerecognised at their settlement amount.
lo. Financial instruments
Thecharityonlyhas financialassetsand liabilitiesofa kind that qualify3sbasicfinancial instruments. Basc
financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.
Page17

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
PARTICULARS OF TURNOVER, COST OF SALES, OPERATING COSTS AND OPERATING SURPLUS
2025
Operating Operating Turnover
Costs
Surplus I
(Deficit)
£000
2024
Operating Operating
Costs
Surplus I
{Deficit)
£000
Turnover
£000
£000
£000
£000
Social Housing Lettings
SHG funded residential care
Non-SHG funded residential care
693
1,523
{671)
11,5031
22
20
511
1,488
14371
{1,7031
74
12151
2,216
12,1741
42
1,999
12,1401
11411
Non-social Housing Activities
Day care services
Other costs
1371
(91
1291
191
1461
1381
2,224
12,1741
50
2,007
12,1861
11791
At 31 March 2025 there were 32 bed spaces12024: 321 ofwhich 10 were funded by the Social Housing Grant.
The average weekly residential care accommodation charge was £1,37612024: £1,276).
Page 18

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
PARTICULARS OF INCOME AND EXPENDITURE FROM SOCIAL HOUSING LETTINGS
2025
Non-SHG
Funded
£000
2024
Non-SHG
Funded
£000
SHG
Funded
£000
Total
SHG
Funded
£000
Total
£000
£000
Income from lettings
Rents receivable net of identifiable
seNice charges
698
1,535
2,233
1,585
2,129
Gross rents receivable
698
1,535
2,233
544
1,585
2,129
Less: Rent losses from voids
151
1121
1171
1331
(971
11301
Turnover from social housing
lettings
693
1,523
2,216
511
1,488
1,999
Expenditure on social housing
lettings
SeNices
Management expenses
Maintenance
Nursing care
Bursaries provided
Grant income
102
38
30
513
225
85
66
1,127
327
123
96
1,640
306
86
57
457
213
142
887
763
299
199
887
1121
1121
1121
1121
Operatlng costs on social housing
lettings
671
1,503
2,174
437
1,703
2,140
Operati ng su rpluslldeficitl on social
housing lettings
22
20
42
74
12151
11411
Page 19

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
4. STAFF COSTS
2025
£000
2024
£000
Wages and salaries: Homes employees
Wages and salaries: Shared SeNices
Socia I security costs
Pension costs
1,402
82
126
36
1,311
109
24
Redundancy payments are recognised when there is 3 legal or constructive obligation arising. No
redundancy costs are included in the above costs and there were no redundancy or termination payments
outstanding at the balance sheet date.
The average number of staff employed in the period on a headcount basis was:
No
No
Homes
Property, care, finance, HR and management
58
46
49
The average numberof staff employed in the period on a full-time equivalent basiswas:
No
No
Homes
Property, care, finance, HR and management
35
40
38
43
The emoluments of no employees exceeded £60,000 in the yearended 31 March 202512024: 11. 2024.. One of
those employees earned between £60,000 and £70,000.
No remuneration or expenses were paid to any trustee during the year.
The total aggregate remuneration of Key Management Personnel for the year was£S8,00012024: £117,000).
There are no pension arrangements in place for a Chief Executive. The highest paid member of the senior
management team received emoluments, excluding employer pension contributions of £29,761 12024..
£67,864).
INTEREST RECEIVABLE
2025
£000
2024
£000
I nterest receivable on bank deposits
io
Page20

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
OTHER INCOME
2025
£000
2024
£000
Donations, grants and legacies
35
49
SURPLUSI{DEFICIT) ON ORDINARY ACTIVITIES BEFORE TAXATION
2025
£000
2024
£000
This is stated after charging..
Depreciation
LossllGainl on disposa l of fixed assets
Auditors, remuneration for a udit services
Auditors, remuneration for other services
40
TAXATION
As a charity, BridgeCareLtd, isexempt from taxon income and gainsto the extent thatthese are appliedto
its cha rita ble objectives. No tax cha rges have arisen i n the Cha rity.
TANGIBLE FIXED ASSETS
Freehold and
leasehold
properties
£000
Furniture,
fixtures and
fittings
£000
Total
£000
Cost
Asat l April 2024
Additions
Disposa Is
2,060
14
208
2,268
14
Asat 31 March 2025
208
Depreciation
As at l April 2024
Charge for the year
Released on disposa Is
1,247
39
203
1,450
40
As at 31 March 2025
204
Net book value
As at 31 March 2025
788
792
Asat31 March 2024
813
818
Page21

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
TANGIBLE FIXED ASSETS {continued)
Total expenditure on works to existing properties comprised:
2025
£000
2024
£000
Amountscapitalised
Amounts charged to income and expenditure
14
30
44
117
117
10. INVESTMENTS
Listed
investments
£000
Valuation
As at l April 2024
Revaluations
Disposa Is
687
Asat 31 March 2025
Historic cost as at 31 March 2025
11. STOCKS
2025
£000
2024
£000
Food
Other
12. DEBTORS AND PREPAYMENTS
2025
£000
2024
£000
Care and accommodation charges
Prepayments and accrued income
Other debtors
94
57
186
13
20
151
219
Page22

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
13. CREDITORS AND ACCRUALS: amounts fallingdue within one year
2025
£000
2024
£000
Trade creditors
Socia I security a nd other taxes
Accruals
Other creditors
41
21
159
18
70
29
54
240
14. CREDITORS AND ACCRUALS.. amounts falling due after more than one year
2025
£000
2024
£000
Government grant
205
15. CONTINGENT LIABILITIES
The social housing grant received by Bridge Care and shown in note 13, is repayable in full under certain
circumstancessuch asthe saleofthe Bridgemead property without reinvestment. The total amount receiva
to date is £604,412.
Page 23

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"Y4 4

BRIDGE CARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
17. DESCRIPTION OF FUNDS
General Fund
Assets held i n the Genera l Fu nd a re availa ble for the genera I purposes of the cha rity.
Restricted Funds
These are funds where there i 5 a restri ction i mposed either by the donor or the cha rity setti ng out conditions
underwhich funds may be used.
Restricted Funds
The Roy King Memorial Fund
This fund has been establ ished to top up fees pa id by Socia I Services to the level pa id by private residents.
Stoff Fund
This reseNe consists of donations made specifically towards staff welfare.
Projects Fund
This fund consists ofdonations received towards the costs ofvarious projects carried out at Bridgemead.
Flood Resilience Fund
This fund consists of donations made specifically towards the ongoing redevelopment of Bridgemead.
Following the decision to place the major refurbishment project on hold, a tra nsfer to genera I funds ha s been
madeto coverexpenditurethat would havetaken place as part ofthe refurbishment.
18. RELATED PARfi TRANSACTIONS
The Pilgrims Friend Group isthe ultimate controlling charity of the group, whose principal activity is to wn
Christiancarehomes. It isa charitablecompanylimited byguarantee incorporated in Englandandwales. Its
registered office is 175 Tower Bridge Road, London SEI 2AL. Company number: 07169875. Charity number.
1134979.
The charity is a subsidiary of The Pilgrims Friend Group byvirtue of that charity being the sole member of
Bridgecare Limited withthe rightto appoint directors. TransactionswithThe PilgrimsFriend Group and its
other group undertaki ngs a re not di sclosed a s consol idated fina ncial statements for the group a re publicly
available.
Details of trustees and key management personnel are given on page l. No remuneration or reimbursed
expenses are paid to anyofthem from this charity.
There are no other related party transactions.
Page26

BRIDGECARE LIMITED
Notes to the financial statements (continued)
For the year ended 31 March 2025
19. LEASING COMMITMENTS
Operating leoses
The charitable company's total future minimum lease payments under operating leases at 31 March 2025
were payable as set out below..
2024
£000
2025
£000
Within oneyear
Within two to five years
12
35
12
47
47
59
Expense
20. CAPITAL COMMITMENTS
Capital commitments for the value of £1.4m were due a5 at 31 March 2025 relating to the flood defence
project.
Page 27