Charity registration number 700843 Bridgewood Trust Company registration nurnber 2238686 {England and Wales) BRIDGEWOOD TRUST LIMITED ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BRIDGEWOOD TRUST LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs C R E Edwards Mr N S P Greenwood Mrs B J Ireland Mrs L M Roberts Mr M Tagg Mr J L Turner Mr R Wiay (Appointed 30 November 20231 Chalrman Mr J L Turner Secretary Mrs D J Langford Seniormanagement Mrs D J Langford Ich. Psychologist) Mr S Carpenler IBA {Honsl, ACMA. CGMAI Chief Executive Officer Direclor ol Finance and Facilities Ch•rlty numbar 700843 Company number 2236686 Registered olflce Sl Pauls House Armilage BI￿ge Hudderslield Wesl Yorkshire United Kingdom HD4 7NR Auditor BK Plus Audil Limited 52 Sl Johns Lane Halifax Wesl York8hlre England HX12BW Bankers Barclays Bank plc 17 Markel Place Huddersf*ld HD1 2AA Bank ol Scoiland 116 Wellinglon Slreel Leeds LS14LT SanlandeT Bank UK plc 44 Merrion Slreet Leeds LS2 8QT Scottish Widows Bank plc 67 Morrison Slreel Edinburgh EH3 8YJ Yorkshire Bank 30 Sl Vincent Place Glasgow G1 2HL Sollcitors Wrigleys 19 Cookridge Street Leeds LS2 3AG BRIDGEWOOD TRUST LIMITED CONTENTS Page Trustees, report Independent audilofs report 12-15 Consolidated Slalemenl of financial aclivilias 16 Group and Charity Balance sheet 17 Consolidated Slalemenl ol eash flows 18 Notes lo the consolidated financial s181ements 19-35 BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their annual reporf and finanaal slalements for the year ended 31 March 2024. The financial slalemenls have been prepared in accord811ce with the accounling policies sel oul in nole 1 to the financi81 slalemenls 8nd comply with the charity's Igoverning documentl. the Companies Act 2006 and "Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Iieland IFRS 1021" leffeclive 1 January 20191. Objectives and activllies As sel out in the Trust's Memofandum and Articles of Association, the objeclives fof which Bridgewood Trust is eslabllshed are lo promote the care. Irealmenl and education of ¢hildren and vulneTable adults and in particular Ibul nol limiled lol children and adulls with learning disabililies. The Trust aims lo achieve ils objectives Ihrough the aclivilies of providing re$Mlen1i8l, domicili8ry and day serwces for people with a leaining disability. The benefit provided by such activities enables Ihose people with a learning disability who access our Servi￿S. a sale environment in which lo lead fulfilling lives whilst receiving any necessary SUPPOrt appropriate lo their needs and for those who attend our day seNice$ to learn skills and lake part in activities lo give them Ille experiences with the aim of achiewng an independent life-style and p055ibly employmenl. The Charily Commission's general guidancÈ on public benelil has been used for Teférènce when compiling this reporl and in planning lulure developmen15 and aclwilies. The services of the Trust are. primarily, available lo any person with a learning disability in the general community who has a support plan which enables Ihem lo receive. by referral from local aulhorilies, any appropriate benefit that Ihe Trust can provide, whether Ihal is residential, domiciliary or day servi¢a. In such cases the local authority would be responsible for all or part ol Iheir fees as delem)ined by the oulcome of a financial means lesl which remains confidential lo the individual and the assessor. The TrLtsI has 81way5 aimed lo provide value for money services lo funding aulhorilies and is noted for charging low lo modest fees for the services il provides. Access lo our servicEs has never been denied lo any person with a learning disability on th8 grounds of inability lo pay. If the Trust considered that the services il provlde5 would not meel an individual's needs or would even be inappropriale lo that persons needs this would be discussed openly with all concerned and would focus on iderslified needs not funding issues. Anyone inquiring about our seNlce5 and how to access them on behalf of a person with a learning disability who did not already have a local authority assessmenl in place would be diiecled lo Ihe appiopriale local authority dep2rlmenl as the first slep. There are no geographical restrictions, our servicE users can be refeired by placing aulhorilies throughout the Unil8d Kingdom. The Trust has provided day services lo people both short lem and long lem wilhoul ¥eckiving any funding from local authorities using our own funds raise(I IhTough day Servi￿ aclivilies. The Trust also supporls people with a learning disabilily in the general communily through soaal nelworks by inviting Ihem lo join in activities and holidays oiganised by the Trust. Al an individual level. if a service user cannot afford the eosl ol a holiday, OT personal ilams such as clothing, Ihe Trust will assist. The Trust aims lo be a responsive provider of services, buill around the needs of the individuals we support. We aim lo offer choice, great support and lo provide the general public with a posilive image of learning disabilities, by respecting the differing strengths of service users and meeting their individual needs and preferences in a caring, supportive and professional manner. All service users have regular review5 to which Iheir families arld friends are invited. These reviews ensure that the service users are cenlral lo the planning of their suppotl services, All members of the Trust's staff receive a detailed induclion including the Care Cerlilicale and a compTehensive training brochur6. The Trust places greal emphasi5 on training as il Can only deliver ils slated aim by having a molivaled and well trained workforce able lo Iranslale principles into every day best practi￿. IPlease refer lo the Skills for Care "Code of Conducl for Healthcare Support WorkeTS and Adult Social Care Workers in England" for further information on best praclicel. Slaff training 15 also one of Ihe topics covered in Ihe staff appraisal and support and supervision systems which are an integral feature ol Ihe Trust. All new staff are subject lo a lengthy recruilmenl process inclLJding an enhanced level of Disclosure and Barring Ghecks. BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 As sel out in the Tiusl's Memorandum and Atlicles of AssocÈation, Ihe objectives for which Bridgewood Trust is established are lo promote the care, Irealmenl and education ol children and vulnerable adults and in parllcu13r (but nol limited lol children and adulls with learning disabililies. The Trus1 aims 10 8chieve ils objectives through the aclivilies of providing residential, domiciliary and day seNices for people with a learning disability. The benefit provided by such aclivilies enables those people wilh a learning disability who access our services. a safe environment in which lo lead fulfilling lives whilst receiving any necessary support appropriate lo their needs and for those who allend our day ServI￿S lo learn skills and lake part in aclivilies lo give Ihem life experiènces with the aim of achi8ving an indepet)denl life-style and possibly employment. The Charily Commission's general guidan￿ on pu￿le bènefit has been used for rafeTence when ￿mpl11n9 thls report and in planning fulure developments and aclivilie5. The services of the Trust are, primarily, available lo any person with a leaming disability in Ihe general community who has a support plan which enables them lo receive, by referral from local aulhorilies, any appropriale benelil Ihat the Trust can provide, whether that is residential. domiciliary or day service. In such case5 the local authority would be responsible for all or part of their fees as delermined by Ihe oulcome of a financial means lesl which remains confidential lo the individual and the assessor. The Trust has always aimed lo provide value for money sérvices lo funding aulhorilies and 15 noted for charging low to modest fees for the servic*s il provides. Ac￿sS to our services has never been denied lo any person with a learning disability on the grounds of inability lo pay. If the Trust Considered that the services il pravides would not meet an indiv￿￿81,$ needs or would even be inappropriate lo Ihal persons needs this would be discussed openly with all concerned and would focus on identified need5 not funding issues. Anyone inquiring aboul our services and how lo access Ihem on behalf of a person with a learning disabblily who did not already have a loca5 authority assessment in place would be directed lo the appropriate local authority deparlmenl as the fbrsl slep. There are no geographical reslri¢lions, our service users can be refeired by placing aulhorili8s throughout the United Kingdom. The Trust has provided day services lo people both short term and long tem) wilhoul rec£iving any funding from local authorities using our own ILtnds raised through day seNice aclivilies. Th8 Trusl also suppoils people with a learning disabilily in the general community through So￿81 networks by inviting them lo join in aclivilies and holidays organised by the Tru$l. Ai an individual level, if a seNice user cannol afford Iha cost of a holiday, or personal ilams such as clothing, th8 Trust will assist. The Trust aims lo be a responsive provider of seNices, buill around the needs of the individuals we support. We aim lo offer choice, great support and lo provide the geneTal public wilh a positive image of learning di5abililie$, by respecllng the differing strengths of service users and meeling their individual needs and preferenc8s in a caring. supportive and professional manner. All service users have regular reviews lo which their families and friends are invited. These reviews ensure Ihal tha Servi￿ users are central lo the planning of their support services, All members of the Trust's staff receive a detailed induction including the Care Cettificale and a comprehensive training broehure. The Trust places great emphasis on Iraining as il can only deliver its slated aim by having a molivaled and well trained WOTklorce able lo Iranslale principles into every day best praclice. (Please rEler lo thé Skills for Care "Code ol Conducl for Healthcare Support Workers and Adult Social Care Workers in England" for further information on be51 praclicel. Staff training is also one ol the topics covered in the slaff appraisal and support and SUP8Tvision syslems which are an integral fealure of the Trust. All new staff are subject lo a lengthy recruilmenl process including an enhanced level of Diselosure and Balring checks. The Trusl provides accommodation in Kifklees and Calderdale and can support over 120 people in 28 homes on 13 siles, 18 of these homes being eilher single or 213 bedroom houses. All our homes are different and what makes them ditferenl is the people who live in them. Everyone has a say in how IheiT home is run and everyone who can helps lo run them. The Tfusl is lortunale in having a variety of facilities enabling il lo meel the needs ol differing people with varying strengths and support requiremenls. All Br￿eWOOd seNiee users have frequent conlacl with seTvice useis from other home5 and shoL*ld they ever wish lo consider moving lo anolheT home this Can be discussed through the review process. All the services have their own Stslemenl ol Pufposes and servi￿ Users Guide. BRIDGEWOOD TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR EhlDED 31 MARCH 2024 The Trust's day service facilities offer opportunilies lo meel poople and try new things including further educalion, employment training and opportunities lo develop living skills, cralt and horticulture knowledge. They currently provida approximately 90 places lo service users. The day services also have a separate brochure which is available if furlher infoTmalion is required on the range ol actsvilies available. Bridgewood's Community Support service provides support in people's own homes. 11 provides personal care, domestic or leisure support, whether il is for one hour a week or Nventy four hours a day, it is built around individuals and Ihe support they want lo receive. This seNic6 also has ils own brochures and guides. W8 also offer short slaylrespile care because. whether for a carer or a seNice user. a Change is as good as a rest. Whether a slay ￿$ for one night or a month, or longer. we will provide indivicluals with an oulslanding seNice that will meet all their need5 while they slay with us. Mission slalemenl Bridgewood is built around the needs of indivKluals with a learning disability and their family and friends. Bridgewood Trust's aim is lo provide choice and Ihe highest standard of per50nali5ed service lo people, which build$ upon Iheir existing skills, develops new ones and is geared loward5 meetsng their individual needs and preferenc•8. We achieve this by developing and investing in a knowledgeable and molwaled staff teom who wll ¢reale an environment where people with leaming disabilities lead a valued, meaningful and lulfilled life. Th8 Tru51's visio The Trust alms lo offer ¢hoice and greal support lo meet the 8spiralions ol people wlh a leaming disability within Iheir local community. 11 offers support and advice lo all those who conlael il for halp or even just a second opinion. For those who access any services the Trust provides, we wtsh them lo experience a professional individuallsed slandard secun¢J lo none, We want our servic8 users lo know our services are buill around Ihem. Our seNice useTS are Ihose for whom we provide day, residenti81, short slaylrespile care and domicili8ry sèNiees. We re$pecl the differing strengths ol paople and ptovide support built around each individual. No ￿￿0 people are the same and Iherefore no Nvo support plans are Ihe same. We delNer services within local communilies. 8rid ewood staff Bridgewood Trust is commilled to reeruiling a molivaled and varied staff team, who come from a wid8 variety of backgrounds. and reflect the ethnic diversity of Ihe communit￿S in which we operate. All staff are enrolled on a Comprehenslve induction programme which ensures that they become familiar with Ihe aims and objectives of the Trust. They are supported by having access to a training deparfmenl and slaN dBvelopmenl brochure which develop5 new competencies and chaltenges staff lo develop their understanding, 5kill$ and knowledge of Iheir area of emplaymenl. All staff are provided with a job description which clearty slates Ihe objectives of the job and the requirecl Irainlng and experience and 2 personal specilicalion. An appraisal and support and supervisiDn syslem is in operation whereby staff are advised and encouraged In their career palh and training needs are idanlified. Relevant Iiaining is providod. using both internal arsd exlem31 resouTces as necessary. Addilional support for slaff is available through line managers. area and training managers. stsff represenlalives and human resource personnel. The Trust has thorough recruilmenl and velling procedures in place. 11 has saleguarding policies and procedures lo protect individuals from abuse. 11 works wilh a variety of agenaes lo ensure everybody feels safe and confident lo report any conceins they have. BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Strategies ft)r ach￿ving gims and objectives We valu8 the support and guidance of all Ihtsse professiona15 who support indiwduals and Ihose who are responsible for ensuring our conformity lo legal and slalulory requirements and 9ood practice i.e. all our stakeholders, 00 Bridgewood Trust operales from many premises and has an exlensiva fleel of veh￿les. All p￿ mises afa desiyned lo be inlegraled into the community and supporl and enhance the lifestyle of those using them. The maintenance of the buildings is constantly ongoing lo ensure Ihey are ol a high standard arbd meet Ihe needs and lasles of those who IIv8 in or access Ih8m. Everyone who is part of BriLtgewood is encouraged to consider the need to use environmental resources in sustainable manner and make use of recyclirig facililies wherever p¢)ssible. Public b8nefil The Iruslees have paid due regard lo guidancA8 issued by the Charity Commisslon in deciding what activities the charily should undertake. Achievements and performance Sigiiilicanl 8ctivilies aiid achievements against objecliv6S We continue lo be proud ol all that The Bridgewood Trusl ach(eves. each and every day lor 11$ serV￿e usars. We live in financially challenging limes and we are not immune from risin9 inflalion and in¢reasing employment cost5. However, we create lor our Service users a sale and warm environment, for them lo develop and feel valued as inclividuals. We aim IOT Bridgewood Trusl lo be the place Ihey call home. From Ihe meals we provide. Ihe standard of our accommodation and most irnportanlly the quality of our Staff team. The Trust goes from strength lo strength in the quality of ils service delivery. We never compromise on our commilmenl lo meeling each and everyone's support needs. 11 is good lo be able lo say Ihal Ihe reslriclions of the pandemic now seem a dim and distant mèmory, and we can fully embrace the future with oplimi8m. We have begun lo implemanl thè digilalisalion agenda for the Social Care Se¢lor. We have inlrciduced the digilalisalion of support record$ within sevefal ol our residenli81 seNices, and once these are embodied within Ihese 5eNices il will be inlroduced inlo the rem8ining homes. 11 has not been wilhoul ils challenges, and significant investment into the infraslrucluTe ol Ihe homes has been required. Having commilled lo this agenda. we have taken all challenges onboard and hope that Ihe rewards will, down the road. OU￿e19h the inilial leelhing problems. We continue lo have all our services raled as 'Good' or 'Oulslanding' by Ihe Care Qualily Commission ICQC). Considerable effort and commitment go into mainlaining our CQC ratings. We would like lo thank all our staff team for the lime and energy they pul inlo ensuring that our regulator feels confidenl aboul Ihe services we de1iveT anLI for their openness in embracing change whilst mainlairbing our COTe values. We aim for all our stakeholders, be they regtslalors, families and friends or the wider community lo be proud ol the work caTried out wilhin Bridaewood. To see this effort rewarded by the level of Talings we achieve is humbling. We also thank all Ihe Local Authority Conlracls Team5, Environmenlal H&a51h and Food Safely Standards personnel. lo name just a few, who monitor and support ourselves lo ensure conlinual improvement. 11 is pleasing lo note that onco again we have been able lo maintain the Bridgewood Trusl'5 IsoaAR Quality System with in person and on-line audits. The Qualily system was subject lo the Ihree yearly iecertifution audil in Ihis financÉal year. This subjects the system lo a rigorous review. We were pleased lo be successful in our recertification process and a new certificate was issued in November 2023, subject lo six monthly reviews. lor the nexl IhTee years. This audit look place over several days and we thank our awarding body for their help and support in assisting ouiselves lo malnlain quality ways of working, which are communicated effectively lo all our slaff leam. BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In the last rinancial year, we reviewed all Bridgewood's ISOIMR Operalional Manuals, (Residenlial, Supported Living and Day Services). This was a Signif￿an1 piec£ of work. as every section was re-visited, updated. cross Teferenced and QR (Quick Response) codes included where possible in the reference section5. We have throughout this financial year built upon this piece of woik and benefilled from the good adminislralive and operational systems Ihal Ihe system delivers. 11 would be easier lo purchase and implement Quality Systems Ihal are ￿mmerCiallY available, bul they would not reflect our hislory and our personal commilmenl lo delivering individualised services. The annL*al renewal ol our regislralion with the Contractors Health and Safety AssÈssmenl Scheme ICHAS) was once again successful and demonstrates our continuing compliance with this accredilalion scheme. Within the residential seNices we have continued lo invest in and improve the buildings and facililies from which we operale. You would think thal aller all the investment Ihey have been subject lo. we could have some rest from the relentless efforts and costs that go into ensuring our buildings are safe for service users, staff and visitors alike. If only this was the ease. Our service users, needs eonlinually change and new aids and adaplalions are required and evar evolving Health and Safety ¥equiTemenls and recommetKlalions result in significant demands on manag8menl resources lo keep on lop ol all the services iequiremenls. No sooner has one refurt)ishmentlfedecoialion been finished, than another three appear, demanding lo be done. 11 is easy lo for9el how many buildings, gardens and the resulting number ol kitchens, bathrooms, bedrooms and landscaping that Ihe Trust h8s la ensure are all working and safe all the lime. In Ihis linanaal yeaf we have provided more defibrillalors and anli-choking devlces lo our services. and invested significantly in the training that goes wilh the inslallalion ol the devices. We have begun lo repl8C8 our monitoring and al?mi services within all our fèc41ilies lo ensuTe we are compatible with the new dlgilal telephone systems Ihel are being rolled out. We are also investing in inlrared lighling sensors within the residenllal services la improve our energy effici8ncy and ¥educe our carbon loolprinl. 8ridgewood Tru81 has also commenced 8 'signage' projecl. As we have grown and acquired more properties and vehicles, lo respond lo ¢hanging needs, we Irequenlly gel informed that our properties cannot be located or members of staff are not sure which are Biidgewood Tiusl vehicles, now we have a diverse fleet. In response we are thereforé rolling out welcoming signage al our properties and placing logos on our vehicles. Thi5 ha5 been well received, espeaally the 'Welcome 10, signs al OUT homes. This 15 a major Ple￿ of wort(, bul we will gradvalty increase Ihe number of homes wilh signage.11 is pleo$ing lo note Ihal all our vehicles are now logoed and Sewi￿ users are proud of the addition of the logo. Service users whose vehides were 109oed lal8r in the project were heard lo be asking, 'When are you going lo do our vehide,, Olher major pieces of work this year included the crealion of a medication room al Bridgewood House. This has been well received by the staff and is a welcome addition lo the facilities on offer al the home. The balhrooms and toilets al the sewice are all being refu¥bished,' a new parkeT bath has been purchased and new floor covers and room decorations have been carried out. We are also looking al increasing the Storage provision al Bridgewood House by installing external storage facililps wilhin the sile. In addition, once we have obtained planning permission for the new block ol windows for Ihe main lounge. and they have been installed we will cary oul a Gomplete refurbishment ol the lounge. We have ¢ommenced redecorating all the bedrooms at Mounljoy and will also re-carpel and re-curtain all Ihe rooms. Colne House has commenced a refurbishment of ils dining room and day room as well as refreshing ils bedrooms. Ravensknowle Road is looking al upgrading its lounge with new carpels and lounge fuinilure. The Gable5 has had new lounge furnilure and is reconfiguring one of ils bathrooms. Well Royd is well on the way lo having a complele PIR lighting 5yslem. Yèws Hill has had new bedroom furniture. Olher seNiees have also been subject lo new furnishings and the above is only a sample ol Ihe work carried out. One area of concern for some lime has been the storage lacililies Bridgewood Trusl has al Sl Paul's House. We have lo relain a significant number of records and store many pieces of equipmenl. We enlèred into discussions with Brooke's Mill lo lake the tenancy of the Small unil adjacent to OlJTselves. Access lo this unil would give valuable secure storage Spa￿ on the ground floor and a much-needed meeting room and spare office for staff visiting Sl Paul'5 10 carry out their on-line training. These discussions were successful and toward Ihe end of this linancial year, we began lo consider how we would best use the space and join Ihe buildings together. We look foN4ard in the next financial year, lo commencing the work and adding lo Ihe facilities al Sl Paul's lo support our work. BRIDGEWOOD TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We are also pleased lo note that we inilialed a Bridgewood In Bloom competition this year. SeNice5 were invited lo enler, with financial prizes for the winnir)g homes and a financial allowan￿ lo carry out improvements lo their gardens. 11 was a great success and we now know how many green fingered Servi￿ user5 and staff we have. Congratulations are due lo Mounljoy who won first prize. Ravensknowle came a close second, Cleveland Road third and Biidgewood House, Soulhlees and Well Royd House were runners up. This Proved so popular il will become an annual event. Next year we will have tha theme of The Birds and The Bees. Thanks are duè lo Clare and Steve who judged the compelilion and all the staff. seNice useis and families and ffiends who so enihusiaslically supported the event. Wo have also been able lo undertake holidays and numerous day visits this year, wilh our seNice users. These have included several holidays lo Skegness, Scarborough and Blackpool. Day visils have been m8de lo the Victoria Theatre in Halifax, Shibden Hall in Halifax, the ITV Studios in Manchester, an Anfield stadium lour in Liverpool, the Yorkshire Wildlife Part( and Flamingo Land. Musically we have been lo a Bee Gees Iribule 'You should be dancing,, a Bob Marley Iribule con￿rt, an 'Upbeat Beatles, Iribule and an Elvis lribule. We have dined out for Valenlina's night. been lo wrestling evenl$, pumpkin festivals, panlomimes and Christmas choir concerts, to name bul a few. The Bridgewood Trust is Certainly ecleelic in ils lasles. We thank all our Slaff lor the time and effort Ihey pul into ènsuring the safety and enjoyment that our seNi¢e u8eis derive from these aclivilies. Thèy ara so valued and looked forward lo. Recruilrnent within the Heallh and Social Care sector is chslleNJing. We are pleased that we enjoy a high $tsff retention record, bul n8Vgrtheless slaff do retire, move lo new careers elc. and we have new 51aff joining ourselves every year. Reliance upon agency staffing. when required, is costly and unsellling for our service u3ers and existing staff team. During this linanaal year. we have therefore applied for and been granted Sponsorship Slalus under th8 Home Office's Shorlaga Occupation Scheme. This we hope in the nexl financial year will support OUT staff iecruilmenl, building a stable Slaff team and possibly reducing Bridgewood's reliance on agency staffing and the premium cosl ol employing staff in Ihis way. Brldgewood Tru8118 a180 pleased that we have been able lo maintain our donation lo the Huddersfield Galeway Club lo support them with their aclivilies. Their Èvening events on a Thursday are valued by our Service users as an opportunily lo socialise with Iheir friends and have a relaxed nyhl out. For many years, Bridgewood Trust Lld and Bridgewood Servic95 Ltd have been audited by Wheawill 8nd Sudworth, Chartered Accounlanls. With effe¢l from April 2024. Wl)eawill and Sudworth have decided lo no longer undertakè charily audit work. We Ihank them for all the valuable advi￿ and supparl they have given ourselves over the years. We will shortly b& appointing a new firm ol Charlered Accounlanls to underlake Ihe audi18 of BI￿g0W00d Trust Lld and Bridgewood SeNices Ltd for the end of the year ending 31 sl March 2024. Trainlng As Bridgewood Trust has resumed ils in person training programme, we have this year upgraded the training room. 11 now has slate ol the art computer facilities. new tables and chairs and has been subject lo a complete redecoraliDn. 11 is a lovely space lo undertake Iraining in and the room has been well used. We have carried out numerous First Aid, Moving and Handling. Safeguarding, Fire Extinguisher, New Starters and Epilepsy Courses. lo name bul a few. We have also invested heavily in on-line training, and these have induded General Data Protection Regulations, Mental Health, Dysphagia, Equality and Diversity and again many more. We have members of staff carrying out Level 2, 3 and 5 Diplomas and have fourteen staff who have completed their CaTe Cariificales this year and eighl who are working towards thi5 award. Bridgewood Trust hopes the inveslmenl we have made in our Iraining facilities and the greal emphasis we place on the training of all our staff team lo carry oul Iheir responsibilities in a safe and compassionale manner, ensures everyone feels confident in their own abililies. This in lurn should make staff and Se￿1￿ users feel saf8 in th8 service5 we provide. We are so lortunale lo have our own training manager, who is frequently wilhin Ihe services, following up on the Iraining given. lo ensure safe and effective seNice delivery. BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Day Opportunities Our Day SeNI￿s have gone from strength lo strength this year. and have been busy and lively places lo be. Horlicull There have been many improvements made al Ihe Horticulture S61vice this year, predominately wlih the aim of building upon the health and safely of facililies al the sile, for service users. members of staff ar*d our every growing number of existing and new cuslomers. The h￿ice-year1Y Open Days are very popular, and attract incréasing numbers of visitors. many of whom continue lo visit Ihioughout Ihe year. Initially an in-depth health and safety audit look place eady within the financial year, which highlighted a number of improvements that needed lo be implemented and evidenced. An improved assel regislor, gave the opporlunily la dispose of old equipment and ensure the documenting of routine servicing was easily available foi our regulators. New sigllage was located around the nursery. lo inform the public ol disabled access and ollhe fire evacuation routes. Paving was also re-laid lo aid access aiound the ouldoor areas and the customer enlranca was re.laTmacked. Fir8 extinguishers were also in51alled in the polylunnels. A ￿VIeW of the Control of Substancès Hazardous lo Heallh {COSHHI wa5 also carried out. A des￿nated purpo$e- built eabinel was installed far the slorage ol such substances and signage was introduced lo make il clear where the produclslsubslances were. We involved our Heallh and Safety advisérs, OJ Heaiih and Safety Consullanls, with all the above actions and they also implemented a new Horticulture Heallh and Safety Policy for the sile. They also supported ourselves with new risk assessments for all the èquipment and provided training in safe systems of work in October 2023, lor staff and service users. They Ihen issued C¢Jmpelency Cerlificales. lo all setvice users and they are pioudly displayed wilhin the kitchen area. The roof above the workshop was repaired and we are now looking al improving the drainage within the sile, lo be carried out towards the end ol this financial year and inlo the new one. As slale£l early in thi5 review th& work ol improving and upgrading services nèvar slops. For the Service users a range ol new aclivib'es have also been introduced. These includ8 wood carvin9, rainy day crafls and supporting Ihe homes with the Bridgewood In Bloom compelilion. Thare has been a Pool Tournament and Iho jainl Christmas dinner with the Bryan Road Day Service was enjoyed by all. In the run up lo Spring 2024, a group of service use15 and staff visited LoweT Wilhinglon, Cheshire lo bid on planls al Ihe auction. Thls was lo replenish our stock of planls for sale in the nursery. A good lime was had by èll. Armila and Br an Ro Over the la51 twelve months the day seNi¢es al Aymilage Bridge and eryan Road have introduced a variety of new activities lo their programme. They are continually improving and involving SeN1￿ users in creating a safer environment for staff and service users and plan lo conlintse lo improve by having champions. within the service for various aclivilies. The carpark re-surface 81 Armilag8 Bndge has seen a vasl improvement in access oswell as tt)e levelling of lh8 paths outside the entrance. Service users have been given opportunilies lo expand their skills and an incentive scheme has encouraged individuals lo develop new skills and make an ever-increa5ing nuwnber of ilems lo be 501d in the shop. The introduction of a rewards scheme has been an empowering process and has seen items such a5 felled oinarnenls, macramé gifts, recycled bags and seasonal wrealhs, lo name a few. lo appear in the shop. The visit groups strive lo find new and interesting places lo visit as well a5 visiting some old favoriles. These include the always popular barge trips, mixed ability cycling. samba drumming and a variety of museums, halls, parks and popular walks. Some new discoveries have included The Winter Gardens in Sheffield and the Royal Society lor the Protection of Birds Sl Alden's Nature Reserve Leeds. BRIDGEWOOD TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The groups looked IoFward lo planning visits lo Ihe local fiTe stslion, Huddersl*ld football ground. the disability "gel aclive day al Ihe 5POrts Centre and Ihey vjill be joining The National T¥usl lo enable them 10 vi511 Nostell Priory and Easl Riddlesden Hall in the summer monlhs. The Christmas Open Oay a18ryan Road and Horticulture was well re￿Ned and the staff and service users plan lo build upon Ihis and organize and host a Christmas Ball in December 2024. Since keeping an extra vehicle al Bryan Road. the staff and service users have had much more flexibility lo be able lo gel oul in lo the community, go shopping and enjoy a number of more spontaneous o¢livilie$. F5nanclal revlaw Total incoming resources for the year Ine￿ased lo £6.981,205 12023 £6,476.0021. The main source of income continues lo be residential lees received Irom the local aulhorily. Total resources expended increased la £6,479,934 {2023 '. £6.183,3521 and nel incoming resources before 18xalion were £501,271 (2023 £292.6501. Thè fixed assets ol the Trust are represented by buildings. fuinilure, equipmenl. fixtures and furnishing8 in the v8rious establishmen15 and motor vehicles for $eNice users, m8int8nance and management use. The nel assets of Ihe Trust al 31 March 2024 were £12.471.094 compared with £11,977.733 8131 March 2023. The subsldiary company, Bridgewood SèNices Limited. provides service vsers with life skills training and educalionl employment opporlunilies. The seNice company's operating piofil for the year, before lax and the gill aid payment lo the Trust was £94,81512023 '. £94,074). Res&Nes policy Bridgewood Trust's general reSe￿e5. defined as unrestricted funds not commilled or Invested in tangible or Intangibl8 fixed assets and in¢luding non-cash ilems, al 31 March 2024 stood 31 £7,224.627 equivalent lo 13.8 monlh5 unreslricled, non4esignaled expendilure. The Trust has been working in an environment which in recent years, as a rasull of the pandemic and relatively high rates of inflation in the last couple ol years, has seen stgnilicanl flyclualions in income and co8ls. However. Ihese particular external influences are now diminishing. enabling the Trust lo coneenlTale resouices on aspects of service delivery. meeting regulatory requirèmenis and minimising the risks associaled with working in a competitive ènvironment. Maintaining this level of unreslricled general reserves also gives the Trust the opportunlty lo respond promptly and effectively lo any lulure developmenl opportunilies Ihal may arise. There is no proposed change lo Ihe Designaled Project Fund which remain$ at £1,252.843 Investmenl policy The Trust has no plans for any subslanlial capital expenditure in the short term bul is well placed financlally 10 lake advantage ol any opportunitie5 that may arise. This directly effects our consideration olwhere lo best place our funds lo ensurg Ihal Ihey can be accessed within an appropriate time-frame for the development of additional learning disability services. Therefore, the policy of keeping funds not required for ongoing business purposes in relatively short-lerm deposit accounts ranging from three monlhs lo years is still consideied lo be a reasonable and best course of action. However. In the past year, rales of interest offered by term deposit accounts have increased slightly and the variety of accounts available has also continued lo increase. The security of monies being invesled in deposit accounts is considered preferable lo the uncertainly and downsKle risk 8ssocialed with a share portfolio. BRIDGEWOOD TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans tor future periods The main aim for the next year will be lo build upon the digiialisalion ol care records that we have commenced this year. We hope th81 by the end of the next financial year all servies will have digitalis•d record5 and benefit from the lime and records Ihal will be geneialed by thi5 system. This is a major piece of work, and involves significant slaff and management lime. We hope that Ihe benefils of digi131isation will ensure that all our regisler8d r@s￿ential services that are currenlly on 'Good' raling continue lo be on a 'Good' CQC raling or above. We are also aiming for all our setvices currently an 'Good' lo join the Service currently on an 'Oulslanding' raling overall. or al least in one area of the Key Lines of Inquiry. Bridgewood also aims lo bLFild upon ils strong repulalion as a provider of respected seNices and lo maintain 811 ils Quality Systems and ways ol working lo ensure all our service users are happy lo make Ih8ir home with ourselves. We have majoT lacili118s improvements lo cornplele al Bridgewood House, Si Paul's and Horticulture in the new financial year and as we respond lo the requirements of new seryice users and Ihe changing requir8menls of exi51ing selvico users we will, as always be a lively and busy environmenl in which lo live and thrive. Struetur¢s govèrnance and management Bridgewood TTUSI Limited 15 a Gompany limiled by guarantee incorporated Ltnder th8 Companies Act 1985. company no. 2236686 and is 9overned by its Memorandum and Arlicles of Associalion dated 16 October 2014. The company is also a registered charily, charity no. 700843 and operates on a not for profil basis under tha name 'The Brldgewood Trust.. Ils registered offKe is 4-6 Sl Paul'8 House, Armilage Bridgé, Huddersfield. Wesl Yorkshire, HD4 7NR. The charity has a Iradlng subsidiary. Bridgewood Services Limited. 3 company limiled by sharès, regisloied company number 03045628. The company is governed by the Board of truslee51.lhe Board.) as direclofs of th8 ehaiilable company. The Board is responsible for the overall policy and 8cruliny of the financial perfoimance of the organisalion. The Board ensures the accountability lo key funders and stakeholders. 11 is the responsibility of Ihe Board lo appoint th8 Chief Executive Officer. The day lo day management of the company is delegated by the Board lo the Chief Executive Officér overseeing th? senior management team. The Iruslees, who are also Ihe directors fof the purpose of company law. and who seNed during the year and up lo the dale of signaluTe of the financial slalemenls were: Mrs C R E Edwards Mr N S P Greenwood Mrs 8 J Ireland Mrs L M Roberls Mr M Tagg MrJ L Turner Mr R Wray (Appointed 30 November 2023} BRIDGEWOOD TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recruilmenl 8nd appoinlmeiTrl of Irustees The Trust ensures the management commillee has a range of knowledge and experience relevant lo Ihe role. 11 a specific knowledge or experience requirement gap was lo be identified, possible new members would be considered against the relevant person specification. The Chief Executive ensures all Ihe appropriate documentation. visils and attendance al previous meeting8 have been Made availablo lo new members. Key m8n8gemenl personn61 Chief Executive and Company Secretary - Mrs D J Langford Ch. Psychologist. Direclor of Finance and Adminislralion - Mf S Carpenter BAIHonsl. ACMA. CGMA. Mrs D J Langford is registered. with Ihe Care Quality Commission as Ihe legalty responsible individual for residential and domi¢iliary services. Risk management The Iruslees and management team have considered the main risks lo which Ihe Tru51 is exposed 8nd assessed Ihe possible 6ffecls of those risks on the Trust's ability lo continue to provide its current level of $8Nlctss, Internally, the Trust regularly review5 and updates ils policies and pro¢edurès, in particular, wilh regard lo the health and safely of all persons conn8cled with the Trust. Olher risks considered ale slralegic, financlal. operational, regulatory and répulalional risks. Allhough levels of risk vary fiom year lo year, the Irusloes 8nd management are of the opinion that oppropriale financi81 resources are in reserve and Ihal syslem$ are in place and subjecl lo sufficient review to enable the Trust lo work with those risks. Statement of trustee$, responslbllitl8S The Iruslees, who are also the direciors of Bridgewood Trust Limited for the purpose of company law. are responsibl& for preparing the Tru51ees' Report and the financial slalemenls in accordance with applicable law and United Kingdom A¢counling Standards (United Kingdom GeneTally Accgpled Accounting Practice}. Comp8ny Law requires the liuslees lo preparé financial slalernenls for each financial year which give a true and lair view of the slate ol affairs of Ihe charity and of the incoming resources and appliealion of resourcés, including th8 income and expenditure, of the ¢h8rilable company for that year. In preparing these financial 51alemenls, the ITuslees are required lo.. select suitable accounting policies and then apply Ihem conslslenlty: observe Ihe methods and prinuples irb the Charities SORP- make judgements and eslimales that are reasonable and prudenl." and prepare the financi81 slalem8rils on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Iruslees are responsible for keeplng adequate accounting records that disclose with reasonable accuracy al any lime the financial posilion of the charity and enable them lo ensure Ihal the financial slalemenls comply with the Companie8 Act 2006. They are also responsible IOT safeguarding the assets of the charity and hence for taking reasonable sleps lor the prevention and detection of fraud and other irregularilies. Auditor In accordance with the company's articles. a resolution PToposing that BK PlusAudil Limited be reappointed as auditor of the company wll be pul al a General Mee1ing. 10- BRIDGEWOOD TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslee5' report was appioved by the Board of Truslees. MrJ L Turner Trustee Dale.. 11 BRIDGEWOOD TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRIDGEWOOD TRUST LIMITED Opinion We have audited the financial slalemenls of Bridgewood TTUSI Limited Ilhe 'p8fenl charilable o)mpany'l for the year ended 31 March 2024 which comprise the slalemenl of financial aclivilies, the balan￿ sheèt, the s1alemenl of cash flows and notes lo Ihe finanaal slalemenis. including s￿nIfiCant 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 Slandard 8pplicabl8 in the UK and RepubliG of Ireland (Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial stalèmenls.. give a Iiue and fair view ol the slate of Ihe group's and parent charilable company's affairs as al 31 March 2024 and of ils incoming resources and application ol resources. for the year then ended., have been properly Prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requiramer515 of the Companie5 Act 2006. Basis for oplnion We conducted our audit in accordance with Inlernational Slandards on Auditing {UKI IISAS IUKII and applicable law. Our responslbililies under those standards are further described in the Audilorfs r8sponsibililies for audil of Ihe Inancial slalemenls section ol our report. We are independent of the group and parent charitable company in accordance with the ethical requiremenls Ihal are relevant lo our audit of the financial slalemenls in the UK. including the FRC'S Elhi¢al Slandard, and we have fulfilled our other ethical responsibililies in accordance with these requiremen15, We believe Ihal the aLKlil evidence we have obtained is sulficignl and appropriate lo provide 8 basis for our opinion. Concluslons relating to going concern In audiling the financial slalemenls. we have concluded Ihal the Iruslees. use of the going concern basls of accounting In the preparation of the financial slalemenls is appropiiate. Based on the work we have performed. we have not idenlified any material une8t1ainlies relaling lo events or ondilions that, individually or colle¢lively. may cast significanl doubl on the group and parenl charitable company's ability lo continue as a going concern IOT a period ol al least Nvelve month5 from when the financial slalemenls are aulhorised for issue. Our responsibilllies and the responsibilities ol the liuslees with respecl lo going rJ)ncern are described in the relevant sections ol thi5 report. Other Information The Olher information comprises the inlomialion indudod in the annual report other than Ihe financial slalemenls and our audilorfs report Ihereon. The Iruslees are responsible for the other information contained wilhin the annual report. Our opinion on the financial slalemenls does not cover Ihe other infomalion and we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information Is materially inconsislenl with rhe financial slalemenls or our knowledge obtained in the course of the audit, OT otherwise appears lo be materially misslaled. l( we identify such material inconsistencies or apparent material misslalements. we are required lo determine whelher this givès rise lo a material misslalemenl in the financial slalemenls Ihemselves.11. based on Ihe wofk we have perfomied. we conclude that there is a molerial mkgslalem8nl of this other informalion, we are required to report Ihal facl. We have nothing lo report in this regard. Matters on which w¢ are required to report by exception We have nothing lo report in respect of the following mallets in relal¢on lo which Ihe Charilies {Accounts and Reportsl Regulations 2008 requiTe us lo report lo you il, in our opinion- the ir*formalion given in the financial slalemenls is incor*sislenl in any malerial respect wilh the Ifuslees, report., or sufficient accounting records have not been kept.. or the financial slalemenls are nol in agreement wilh the accounting records., or we have not received all the infoTmalion and explanations we require for our audit. 12 BRIDGEWOOD TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGEWOOD TRUST LIMITED Responsibilities of trustees As explained more fully in the slalemanl of ITuslees' responsibilities. the Iruslees, who are also the directors of the parent charitable company for the purptsse of company law, are responsible for the preparation of Ihe financial slalemenls and for being satisfied Ihal they give 8 true and fair view. and for such inleTnal control as the Iruslees determine is necessary lo enable Ihe preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Iruslees are responsible for assessing the parent charitable company's ability lo continue as a going concern. disclosing. as applicable, matters related to going concern and using Ihe going eoncern basis of accounting unless the trustees eilher inlend to IIquKlale the charitable company or lo cease operations, or have no realistic allemative bul to do so. Audltorfs respoh$lbllitie$ for the audit of the financial statements We have been appoinlod a5 auditor under seclion 144 of Ihe Charities Act 2011 and report in accordance wilh the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial 51alemen15 a5 a whole are free from material mi$$lalemenl. whether due lo fraud or error, and lo issue an audilorfs reporl that indudes our opinion. Reasonable assurance is a high level ol assurance bul is nol a guarantee that an audit conducled in accordance wilh ISAS IUKI will a￿ayS delecl a material misslalemenl when il exisls. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate. they could reosonably be expected lo influence th& economic decisions of users taken on the basis of these financial slalemenl5. The exlenl lo which our procedures are capable of delecling irregularilies, including fraud, is delailad below. A lurtheT descripllon of our ￿sponsibl1111e8 is available on the Fin8n¢lal Reporling Council's website al.. hllps'.11 www.frc.org,uklaudilorsresponsibililies. This description forms part of our audilorfs report. 13 BRIDGEWOOD TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGEWOOD TRUST LIMITED Other matters Our appr08ch lo ideiilifying and assessing the risks of maleiial misslalement in respect of iriegularilie8. including fraud and non-compliance with laws and regulations. was as follows.. The engagement partner ensured Ihal the engagement team collectively had the appropriate competence, capabilities and skills lo idenlify or recognise non-compliance with applicable laws 2nd regulations., We idenlifiad the laws and regulation$ applicabla lo the company Ihrough discusskJn5 Wlth directors 8nd other managemenl, and from our commercial knowledge and experience of the induslry seclor. We focused on specific laws and regulalions which we considered may have a direcl rnalerial effect on the financial slalemenls or Ihe operations of the company. including Ihe Companies Act 2008. laxalion legi8lalion and data protection. anli-bribery. employment. environmental and h8allh and safety legislation.. We assessed the exlenl of ¢ompliance with the laws and regulat￿)n$ identified above through making enquirles of management and insp8cling legal cOrresponden￿- and Ensured laws and regulations were communicated within the audil team regularly and the team remained alert lo inslan¢es of non-compliance throughout the audit. W8 assessed the susceplibilily of the company's financial slalaments lo material misstalemenl, including obtaining an understanding of how fraud might occur. by.. Making enquiries of management as lo where Ihoy conSide￿d Iheie was a suseeplibility lo fraud, their knowledge of actual, suspected and alleged fraud.. Considering the internal controls in place to miligale risks of fraud and non-compliance with laws and regul81ions', and Understanding the design of the company's remuneration policies. To address the risk of fraud through management bi8$ and override of contiols, we., Performed analytical procedures lo idenlify any unusual 01 un8xpecled rel8lion$hips', Tested journal entries lo idenlify unusual transactions Assessed whether judgements and assumptions made in delemiining the accaunling e51imales Sel out in note 2 were indicative ol polenlial bias,. and Investigated the ralionale behind significant or unusual Iransaclions. In response lo the risks of irregularities and non-compliance wilh laws and Tegulalions, we designed proceduie8 which included, but were not limited lo.. Agreeing financial slalemenl disclosures lo undedying supporting documenlats'on., Reading the minutes of meetings of those charged wilh governance.. Enquiring of management as lo aclu81 and potential liligalion and Glaims.. and Reviewing correspondence with HMRC, relevant regulalors and the company's legal advisors. There are inherent limilalions in our audil procedures described above. The more removed Ihal laws and regulations are from the financ481 Iransaclions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit Ihe audit procedures required lo identify non-compliance with laws and regulations lo enquiry of the directors and other management and the inspection of regulatory and leg85 correspondence. if any. Material misslalemenls that arise due lo fiaud can be harder lo delect than those that arise from error as they may involve deliberate concealment or Collusion. 14- BRIDGEWOOD TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRIDGEWOOD TRUST LIMITED Use of our roport This repoTI is made solely lo the paienl charitable company s membeis. as a body, in accordance with section 391 of the Companies Act 2014. OUT audit work has been undertaken 50 that we mighl slate lo the company's members those m811ers we are required lo slate lo them in an audilorfs report and for no 01her purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than ihe parenl charitable company and the parent charitable company's members as a body, for oui audil work. lor Ihis report. or for the opinions we have formed. Victorla Atklnson FCA {S&nlor Statutory Auditor) for and on behalf ol BK Plus Audit Limlted Chartered Accountants Statutory Auditor 52 Sl Johns Lane Halifax Wesl Yorkshire England HX12BW BK Plus Audit Limited is eligible for appoinlmenl as auditor of Ihe parent charitable company by virtue ol ils eligibillty for appointment as auditor of a company under section 1212 01 the Companias Act 2006. 15- BRIDGEWOOD TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds Unrestricted funds (Restated) 2023 2024 Notè$ Income from: Donations and legacies Charitable aclivilles Other trading activities Investments 6,056 6.024.823 678.791 271.535 6,007 5,803,925 621,631 44,439 Total Income 6.981.205 6,476,002 ExpendSture on.. Charitable aclivilles Other expenditure Other Iradlng Costs 5,905,119 3,800 578,615 5,674,182 4,076 513,246 Total charltable expendlture 6.479,934 8,183,352 Net Income 501,271 292,650 Transfers between funds Taxatlon 7,910 10,258 Net movement In funds 11 493,361 282,392 Reconelllatlon of funds: Fund balanc£s al 1 April 2023 11,977,733 11,895,341 Fund balances at 31 March 2024 12,471,094 11,977,733 The slalemenl of financial activities includes all gains and losses ￿COgnised in Ihe year. All income and expendllure derive from continuing activities. 16- BRIDGEWOOD TRUST LIMITED GROUP AND CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 GROUP CHARIT 2024 2023 2024 2023 IRestat8dl {Restatedl Notes Flxed a5S8ts Tangible assets Investments 1S 16 3.993.623 3.939.902 3,920.953 10,000 3.898,872 10.000 3,993,623 3.939.902 3.930,953 3.908,872 Current 0$80ts Stock DebloTS Cash al bank and In hand 17 16 19.632 458.891 8.622.848 20,230 251,004 8.242.364 4,500 703,861 8.322,239 4,500 441.9ag 7.912.291 9.101.371 8,613.598 9.030,600 8,358.730 Cr•dltor8 ', amounts falllng due wS¢hln one y•8r 19 605.733 465.509 818,222 432.725 N•t currént aÉsèts 8,495,638 8.048,089 8,412,378 7,926,005 Total a88•ts 1•88 eurr•nt Ilabllltlè8 12,489.262 11,987,991 12.343,331 11,834,877 Prov151on$ for Ilabllltleo 18.168 10.258 Net a$set8 12,471,094 11,977,733 12.343.331 11,834,877 Th• funds ol tho charlty Unreslricled funds 22 12,471,094 11.977.733 12.343.331 11,834.877 Total ch4rltobl8 oxp8ndltur• 12,471,094 11,977,733 12,343.331 11,834,877 The comp8ny is enlltled lo the exemplh)n from Ihe audil vequiremen( conlalned in section 477 01 the Companles A¢1 2006, lor the year ended 31 March 2024, although an aud51 has been cariied oul under seclion 144 of the Chaiilies Acl 2011. The dlredors acknowledge their responslbllllies for complyirwJ with the requlremenls of Ihe Companies Acl 2006 wilh Tespecl to accounting records and Ihe preparation of financtal slalemenls. The members have not required the company lo obtain an audit of ils financial slatemenls under the requirements of the Comp8nles Acl 2006, lor the year In quesllon In accordance wth section 476. These financlal statements have been prepared ￿ accordance wilh the provisknns appllcable to companies sublecl to Ihe small companies reglme. 181111I* The financlal statements were approved by Ihe tmslees on......................... Mr J L Turner Trustee Company regislralion number 2236686 (England and Wales) 17- BRIDGEWOOD TRUST LIMITED CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 {Restated) Notes Cash flows from operating activiti85 Cash generated from operations Tax paid 27 363,738 7,910 521,864 10,258 355,828 511.606 Investing actlvSties Purchase of tangible flxed assets Proceeds Irom disposal of langible fixed assels Investment income received 250,679 3,800 271,535 674.288 4.911 44,439 Not cash generated fromllu5ed in) Investlng activltlès 24,656 824,938 Net cash u¥ed in Ilnan¢lng activitles Net incroase In cash and cash oqulvalents 380.483 113.332 Cash and cash equivalents al beglnning of year 8,242,364 8,355,696 Ca¥h and cash equivalgnt$ at end of year 8,622.848 ,242,364 18- BRIDGEWOOD TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Charity informatSon Bridgewoad Trust Limiled is a private company limiled by guaianle8 incorporated in England and Wales. Thè registered office is Sl Pauls House, Armilage B Tidge, Hudder5field. Wesl Yorkshire, HD4 7NR. United Kingdom. 1.1 Accounting convèntion The financial slalemenls have been prepared in accordance with the charity'5 Igoverning documenll, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland. {'FRS 102.1 and Ihe Charities SORP "Accounling and Reporting by Chari118s.' Slalemenl ol Recomm8nded Practice applicable Io Gharilies prepafing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" lÈffeclive 1 January 20191. The charity is a Publi¢ Ben8fil Entity a8 defingd by FRS 102. The financial slalemenls are prepared in sl¢rling. which is the funclional currency ol the charity. Mon•lary amounts in these financial slalemenls ale rounded lo Ihe neafesl E. The linancial slalements have been prepared under the hisloritsl cost ¢onvenlion. Imodified lo include the revaluation ol freehold properties and lo include investment properties and cortain financial instruments al fair value). The principal accounting policios adopted ai8 s61 Dut below. Group finan¢lal ltstèmonts The Statement of Financial Activities (SOFA) and balance sheel consolklale the linancial slalemenls of tho charity and ils $ub8idiary undertaking. The r¢sull8 of the subsidiary are consolid81gd on a line-by-linè basis a8 th¢ subsidiary and parent have identical purpose. No separale Slal8menl ol Financial Activities has been presenl8d lor tho chanly. as pgrmilled by Section 408 of the Companies Act 2006 and Seclion 24 of the SORP IFRS1021 The charity has availed itself of Paragraph 4 {11 of Schadul6 1 of the Lafge and Medium siz8s Companies and GTOLIPS (Accounts and Rèpoflsl Regulalions 2008 and adapl¢d the CompaniasAcl foimals lo reilècl th8 spocial nature ol tho charity's aclivilies. The significant accounting policies applied in Ihe preparation ol these linancial glatemenls are 381 oul below. Th959 poIiGSèS have been consislenlly applied to all years presented unle3s olhgrwi59 $181gd. 1.2 Going ¢on¢•rn Al the lime of approving the financial slalemenls. the trustees have a ￿asOnable expectation Ihal the charity has adequate resour￿$ lo continue in operational exisl8nce for the foreseeable lulure. Thus th8 Iru51ees ¢onlinue lo adopt the going concern basis of accounling in preparing tho Financial stalemenls. 1.3 Charltablg fund• Unreslricled funds are available lor use at the discrolion of the Irustoos in furtheran￿ of their charitable objectives, Re51ricled funds are subject lo spe¢ili¢ condilions by donors or gTantors as to how thèy may be us8d. The purposes and uses of Ihe reslrKled lunds are sel oul in the notes lo Ihg finanGial slatomonls. 1.4 Incomo Income is r9cognis8d when Ihe chartty is legally enlimed lo it after any performance conditions have been mel. the amounts can be measured reliably, and il is probable that income will be received. Cash donations aré fecognised on receipt. Olher donations a￿ reeognised once the charity has begn notified of the donation. unless performance conditions require delorral of the amount. Income lax recoverable in relation lo donations rg¢oived under GiftAMI or d8eds of CDvenanl is recognised al the limg of the donation. LegaGie5 are recognised on receipt or olhetwise if the charity has been notified of an impending di51ribulion, the amoLtnl is known, and ieceipl Is expected. If the amount i¥ nol known. the legacy is l¥eated as a conlingenl ossel. 19- BRIDGEWOOD TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles {Continued) 1.5 Expenditure Expendilura is recognised once there is a Eegal or conslruclive obligation to transler economic benefit lo a third party, il is probable that a Iransler of economic benefils will be required in selllemenl, and the amount of the obligalion ¢an be measured reliably. Expenditure is classifiecl by acliwty. The costs of each activity ale made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allfibvlable lo a single activity are allocated directly lo Ihal aclivity. Shared costs which conllibute lo more Ihan one activity and support costs which are nol allribulable lo a single activity are apportioned bettveen those aclivili8s on a basis consislenl wilh the use of resources. Central staff cos15 are allocated on the basis of lime spenl. and depreciation chaTges are allocaled on the portion of Ihe asset's use. 1.6 Tangible Ilxed assets Tangible fixed assets are inilialty measured al cost and subsequentty measured al ojsl or valualion. nel of depr8cialion 8nd any impairmenl losses. Depreciation is recognised so as lo write off the cost or valualion of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Property capilal contribution Fixtures and fillings Computer equipmenl Motor vehicles Tools Soft fuTnishings and utensils Over 50 years Over 25 years Over 5 years Ovèr4 yeais Over 4 years Over 3 years Over 2 years The gain or loss arising on the disposal of an assel is delermined as the diffgrence beNveen the sale proceeds and the carrying value of the asset, and is recognised in tho sialemenl ol financial aclivilies. 1.7 Flxèd asset investments Fixed asset investments are initially measuied al transaction pyice excluding Iransaclion c0515, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel incomel lexpendilur81 for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of fixed assets Al each reporling end dale. the charity review5 the c3rrying amoLsnts of ils tangible assets lo determine whelher there is any indication that those assets have suffered an impairmenl loss. 11 any such indicalinn exisls, the recoverable amount of the asset ￿ eslimaled in order lo determine Ihe exlenl of the impairment loss lif any). 1.9 stocks Slock5 are slated al the lower olcosl and e51imaled selling piice less costs lo complele and sell. C051 comprises direcl materials and, wher8 applicable. direct labour cosls and those overhead5 that have been incurred in bringing th8 stocks lo their present location and condilion. Items held for dislribulion al no or nominal consideration are measured the lower of repl3￿ment cost and cosl. Nel realisable valua is Ihe eslimaled selling price less all estimated costs af completion and costs lo be incurred in marketing, selling and dislribulion. 20- BRIDGEWOOD TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounllng policies Icontinuèdl 1.10 Cash and cash equivalent¥ Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-lefm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown wlhin borrowings in current liabilities. 1.11 Flnancial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Seelion 12'01her Financi31 Inslrumenls Issues. of FRS 102 10 all of ils financial inslrvmenls. Financial instruments are recognised In the charity'$ balance sheet when the ch8rlty becomes paty lo the conlfaclual provisions of the in81rumenl. Financial assels and liabilities are offsel, with Ihe net omounls presented in the financial s1alemenls, when ther8 is a legally enfor￿ab]e right lo sel off the recognised amounts and Ihere is an inlenlion lo sellle on a nel basis or to realise the assel and selllo the liability simullanaousty. Baslc flnanclal assets Basic financial assets, which includ& deblors and ¢ash and bank balances. are inilially measured al Iran5aclion price including transaction costs and a￿ subsequenlly carried al amorlised c051 using the effective interest melhod unless the arrangement conslilijles a financing Iransaclion. wherg the transaction is measured al the present value ol the future receipts discounled al a markel rale of interest. Financial assets classified as receivable wilhin one year are not amortised. Basic finanelal Ilablllties Basic financial liabilities, including ¢￿dIlarS and bank loans are inilialty recognised al transaction prie2 unless the arrangamenl conslilules a financing Iran8aclion, where the debt inslrumenl is measured al the present value of the future payments discounled al 2 markel rale of inteTesl. Financial liabilities classified as payable within one year are not amortised. Debt instrumen15 are SL*bsequenlly carried al amortised cost, using the effective interest rale method. Tra(ie crediloTS aTe obligalions lo pay for goods or seNices Ihal have been acquired in the ordinary course of operations from suppliets. Amounts payable are classified as currenl liabilities il payment is due within one year or less. If nol. Ih8y are piesenled as non-currenl liabilities. Tfade creditors are recognised initially al Iransaclion price and subsequently measured al amortised cost using the effective intere51 method. Derecognltion of financlal Ilabllitles Financial liabilities are derecognised when Ihg tharily's conlractual obligalions expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services aTÈ received. Tem)inalion benefits are recognised immediately as an expense when the charity is demonstrably ommilled lo lerminale tha employment of an employee or lo provide leTminaliofi benefits. 1.13 Retlrement beneflts Paymenls lo defined conlribulion retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application ol the charity's accounting policies. the trustees are required lo make jvdgemenls, eslimales and assumplion5 about the carrying amount of assels and liabilities thal are not readily apparent from olher sources. Thè eslimales and associated assumptions are based on hisloiical experiencè and other factors that are considered lo be relevanl. Actual results may differ from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslirnales are recognised in the period in which the estimate is revised where Ihe revision affects only that period. or in the period o11he revision and fvlure periods where the ievision affecls bolh current and lulure periods. 21 BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacles Unrestricted funds Unrestr5cted funds IRe8tated} 2023 2024 Donations and gifts 6,056 6,007 Total Income 6,056 6,007 Incomè from charltable activlti88 Unrestricted Unrestricted fundg IRestated> 2023 funds 2024 Charitable a¢tlvltie8: Conlraclual payments from Local Aulhofily Disabled Living Allowance 5,812,289 212.534 5,602,978 200,947 6,024,823 5,803,925 -22- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FFNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other tradlng actlvitle5 Unr•stri¢tod funds Unrestrl¢ted funds IR651atedl 2023 2024 Bridgewood Servlces Limited 678,791 621,631 678,791 621.631 In¢ome from Inv68tmgnts Unrestrlcted funds Unr6stricted funds {R88tal8dl 202J 2024 Interest r8celvable 271,535 44,439 271,535 44,439 23 BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on ¢harltsbl$ actfvltles Charitable Charllable activitles actlvitie5 (Restatedl 2023 2024 Dlrè¢t Costs Si8fl costs Depreclation and ImpaSrnient Premlses ¢osls Cleanlng. maintènance and repalrs ￿sts Office costs Staff welfare costs 4,253.373 170,202 372,835 364,636 106,573 54.812 381,097 33,273 144,557 39 6.41S 4,000 4.168,020 157,173 382,848 345,409 96,782 25,869 332,711 16,395 128,523 23 Daycare and clienl co618 Training costs Motor 8nd travel costs Leu81 Jnd profÈsslonal costs Fln8nee cosls Other cosls 4,175 4,000 5.891,734 5,661,882 Sharè ol gVPPOrt and govern¥nce costs Support 13.385 12,300 5,905.119 5,674,182 Analysls by lund Unreslricled funds 5,905,119 5.674,182 5,905,119 5,674.182 -24- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other expendilyr4 Unreslrlcttd funds Unre8lrf¢ted lunds IRe5latedl 2023 2024 (Prolilll Loss on disposal tsl fixed assels 3,800 4,076 3,800 4.076 Other trading costs Unrestrlcted funds Untéstrlcted fuTrd¥ IRe8lat•dl 2023 2024 8ridg6wood SÈMcas LimSied 578,61S 513.246 578,615 513.246 2024 2023 IReslJtedl Gov¢mance costs 13,385 12.300 AnalyseLI betwafrn-. Charitablo aclivilies 13.385 12,300 Governance costs comprlgè: Audil lees 13.385 12,300 10 Net movemènt In fuThd8 2024 2023 IRe8taledl The nel movement in funds is slated after thargingllcrediting Fees payable for the 8udil ol the chariV5 financial ststements Audit services . olher services Depreciation of owned tsngible fixed assels Profil on dlsposal ol tangible fixed 8ssets 13.385 11,300 1,000 171,829 4,076 195,059 3,800 Truslees None of the trustees (or any pers(X15 connected with Iheml received any remuneralion or benefit5 from the charity during the year. -25- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employ#•s The aveTage monlhly nurnber of emplDyees durtng the year was: 2024 2023 Number 10 129 Number 10 139 Admfft and managemer)I Charitable acbvilies 139 149 Employment costs 2024 2023 Wege5 and salarles Social seculrty costs Olher penslon costs 4.142,124 312,226 141,886 4.033,895 301,888 147,220 4,596,236 4,483.002 The number of employees ￿0$t annual iernunerallon Was more Ihan £60,00018 8$ (ollows.. 2024 Numbar 202J Numb•r £70,001 £80,000 £80,001- £90,000 The rem￿￿￿allOn of key management per¥onnel wa$ gs lollows.. 2024 2023 Aggregate compen881ion 204,649 250,143 13 Taxatlon The charity is exempl Irom taxatlon on Ils aclivllies because all its income is 8pplied for ch3ri18ble purposes -26- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tangible fixed assets CHARITY Freehold land and bulldings Flxtures and flttlngs Molor ￿hl¢l¢S Total Cosl or valuatlon Al 1 April 2023 Addlllons Dlsposals 4,846.291 91.218 1,108,794 90,865 24,966 351,447 10,200 77,635 6.306.532 192,283 102,601 Al 31 March 2024 4,937,509 1,174,693 284,012 6.396,214 Dtrpr¢cl8llon ond Impolmenl Al 1 April 2023 Depreciation charged in the year Ellminaled on disposols 1.150,390 76.991 966.712 67.552 24.966 290,558 25,659 77,635 2,407,660 170,202 102.601 Al 31 March 2024 1.227,381 1,009.298 238,582 2,475,261 Al 31 March 2024 3,710,128 165.395 45,430 3.920.953 Al 31 March 2023 3,69s,901 142,082 60.889 3.898.872 Included within freehold land and buildings Is land Va￿e￿ at £973,000 {2023 '. £973,CVJOl upon ￿lch no depreclallon18 provlded. -27- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tanglble fixed assets Icontlnuedl Frtsthold lond and bulldlngs Fixtures and flttlngs Motor vehlcles Total Cost or valuation Al 1 April 2023 Additions Disposals 4.865.898 93.909 1.227,086 115,465 24,966 460,422 41,305 112,334 6,553,406 250,679 137,300 Al 31 March 2024 4,959.807 1.317,5B6 389,393 6.666,786 Depreclatlon and Imp8lrm•nt Al l AprS12023 Depreciation chargèd In the year Elimlnaled on disposals 1,169,964 77,672 1,072.85D 76,741 24,966 370,690 40,646 110,434 2,613,504 195,059 135,400 Al 31 March 2024 1.247,635 1,124,625 300,902 2.673,162 Al 31 March 2024 3,712.172 192.961 88.490 3,993,623 Al 31 March 2023 3,695,935 154.236 89,731 3,939,902 Included within Ireehdd la￿1 and bLFlldlrvJs is land valued 91 £973,000 (2023 '. £973.0001 upon thich no depreelalion is provided. -28- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Flxed asset Investments GROUP 2024 CHARITY 2023 (Restoledl 2024 202J (Reslaledl Market Value AI 1 April 2023 8nd 31 hAafch 2024 10,000 10.000 Net Book Valu• Al 31 March 2023 and 31 March 2024 10.000 10.000 There We￿ no Investment assets oulslde Ihe UK. Th• companvs Inveslmenls al the balance 8hepl dale In¢lud¢ Ihe following.. Brld Class ol Share wo Ordinary 100% Provlslon of tTalnlnu h horticullurÈ, craft and furlher edu￿tIon for residents and dienls ol Brldgewood Trust Limsted Reglsl8red nurnber 3045628 IEnglond and Walesl Holdlng Nature of business.. Company.. r3din results.. 31103124 31103123 Turnover Total Expenditure Taxallon 764.782 669.967 7.910 716,446 622.372 10,258 86,905 101,998 63,81fj 82,731 Donallon lo parènt charlly IPald In Yearl 15,093 1,085 umma se sand Assets 398.017 260,255 397,941 245,086 137,762 152,855 16 Stock GROUP 2024 CHARITY 2024 2023 2023 IRestaledl (Rèatatèdl Finished goods and goiKls for resale 19,632 2Q.230 4.600 4.500 19,632 20,230 4,500 4,500 29- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Debtors GROUP CHARITY 2024 2023 2024 2023 IRest3t8dl (Restated) Tr¥de debtors Amounls ow6d by group undertakings Other debtors Prepayments and accrued income 74,674 141,424 119.672 205.941 4.575 373.673 134,458 202.045 10.776 94.660 4.57S 370,643 10,774 98.806 458,891 251.004 703.861 441,939 18 Cradllor9 GROUP 2024 CHARITY 2024 2023 IReslatedl 2023 Re¥tatedl Other laxalion and soc181 securlty Trade credllors Other ttedltors Accruals and deferred Income 72,503 101,241 2.336 429,652 62.869 116.256 10,253 276.131 72.466 149.973 2,373 393.410 62.832 111,381 10,290 248,222 805.733 465.509 618.222 432.725 19 Funds held as custodlan The ¢harily holds lunds on behalf of service users, these funds are hehl In eash ènd narned b8nk ac¢ounlS 8nd 8dmlnisleTed by the Gharily on behalf gllhe $9ryS¢e users. These arnounls ore not dlsdosed on Ihe balance sheel. Ihese lund$ lolal £28,931 al the >E?r end. 20 Rotlram8nt b8noflt 8chom•$ 2024 2023 IReBtatedl Deflned contrlbullon schemes Charge lo profil or loss in rÈspecl ol defined conlributron sch8mes 141,886 147,220 The charity operates y defined conlrlbulion pension scheme for 811 qualifying employees. The a58els ol Ihe 3chemg are held separalely trom those of the chaity in an independently administered fund BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestrlcted lunds The unles1￿cted funds ol Ihe charity cryrise the unexpended balances of (knatIO￿ and graDls vknith a￿ tx)I sublect lo specif condilEons by donors and grarilors as lo how Ihey may be used. These ￿n￿de desynaled funds have been sel ag"Kle out of unieslricled fund5 by ihe trustees for speofic purrxxes. CHARITY: At 1 Aprll 2023 Incomlng Rtsourees Resource5 expended TYan&fers At 31 March 2024 IRe8tatedl Desynoled Fwd - F￿e￿ Assets Desiqnaled - PEojeels Gener81 Fvn 3.898,873 1.252,843 8.683.161 170.202 192,282 3,920,953 1,252,848 7.189,535 6.511,462 5,832,806 192.282 11.834.877 .511.482 6.003.006 12,343,331 GROUP.. At f Ap￿1 2023 Incomlnu Rosoureès Resources èxpèndtd Tran8fer8 At 31 March 2024 IRe8t?tedl De91gnaled FwK(- Frxed Asset8 Deslgnaled Fmd. Projec1$ General Funds 3.093.823 1,2S2.843 8.731,￿7 195,059 19S,059 3,993,623 1,252,843 7.224,628 6,881.205 6,292,785 195,059 11,è77,733 8,è81.205 6,487,844 12,471,094 Unregtrlcted lund¥ The general lunds are avallabl8 lor the use. al Ihe dlscrellc￿ charfly. Ihe lurthe18￿ ol Ihe general oblecllves as de1811èd In the Iru$l•ts$ report, D6Blgnated Ilxed asset Mnd The designated tKxed asset lund ccffiprL8es assets thch have ben purth8sed lo further Ihe alms of the Charfty at)d ara wjt on3idered lo be ie$liicted assets. De8lgnated prolecl fund The d65ignaled projed fund compriyes of luDcl¥ wthi¢h have been ￿[marked to cover fuiufa c8rel&dMl￿Ylra1hve lac41illes, 31 BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unréstrlcièd funds Icontlnuedl CHARITY: At 1 Aprll 2022 Incomlng Resources Resource8 expended Tran8lers At 31 Maich 2023 (Reslatedl Deslgnaled Fund- Fixed Ass•ls Designated Fund- Projects General Fsjnds 3,387.99S 1,252.843 6.912,732 158,152 669,030 3.898.873 1,252,843 6,683,161 6,041.426 5,601.967 669,030 11,S53.570 6.041,4 5,760.119 11,834,877 GROUP: Al 1 Aprfl 2022 Incomlng Re8ource8 Resourcès oxpended Transfèrs At 31 March 2023 IR•st8t•dl Designated Fund- Fixed Assels Designated Fund- Proje¢ls General Ftsnds 3,939,902 1.2S2,843 6.502.596 195,059 248.780 3,993,623 1,252,843 6.731,267 6,476.002 5,998.551 248.780 11,695.341 6,476,1￿2 6,193.610 11,977,733 -32- BRIDGEWOOD TRUST LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Analysls of net assets between lunds Unrostri¢ted funds 2024 Total 2024 At 31 March 2024: Tanglble assels Curfenl assets I liabllilies 3.993,623 8,477,470 3,993,623 8,477,470 12.471.094 12.471.094 Unrestrlct8d lund8 IRe$tat•dl 2023 Total IRestat&dl 202J At 31 March 2023 Tanglble ossels Current assets I Iliabilitiesl 3.939,902 8,037.831 3,939.902 8,037,831 11.977.733 11,977,733 23 Op&ratlng lea•0 commltm•nts Al the reportlng end date the charity had oulslanding ￿Mn￿lMentS for future minimum lease paymenls under non- cancellable operating leases, ¥thieh lall due 85 lollows.. 2024 2023 Wilhln one year Between Iwo and five years 155,726 249,714 57,199 405,440 57,199 The charily has the use 012 properties. for which no fomial ￿ase agreement Is place, and no lease payments pre made during the year. No quanlilicalion ol the 'donaled' lease cost has been made in Ihege financial slalemeNs, nor has any fijlure lease eommilmenl been reeognised. BRIDGEWOOD TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 R&latèd party tYansa¢llonB Transactions Wlth related partles Durlng the year the chaiity purchased motor vehicjes, CA)sling £10,300, from The Small Auto Company Limited. company controlled by a Irustee. No balance was outslanding 81 the year end. There are other related party Ir8ns8Cttons during ihe ye8r. 25 Cash generated Irom operatlons 2024 2Q23 IRestatedl Surplus for thé yèar 501.271 292,650 Adluslinenl¥ lor.. Investment income recoonised In stalemenl of financiol xlivilies Gain on dlspos81 of intangible fixed assets Depreclalion and irnpairmenl ol tangible fixed assels Movements in workin Ilncrea5eydecre8se in 31ock Ilnueaselldecrease In debtors In¢￿9$el(decreaS0l In creditoi3 271,535 1,900 195,059 44,439 4.076 177.829 598 207,888 148,134 3.463 63.440 25,923 ¢aÉh gènèraléd from operbtions 363,738 521,664 -34- BRIDGEWOOD TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Analysis of changes In net funds The charity had no material debt during the year. 27 Prior year adjustment A prior year adjustment has been made lo reclassify the Irealmenl of the distribution from Brtdgawood SeTvice$ Limited lo the parenl charity. Bridgewood Trusl Limiled. The dislribulion of £101,998 wa5 shown as being expended within the financial year lo 3113123. and £82,732 as being expended within the financial year lo 3113122. The dislribulions have been raslaled to show as expended in the 3113124 and 3113123 financial years respeclN81y. The prior year has also been adjusted lo ￿cognise a deferred taxation liability of £10,2S8, in relation lo accelerated eapilal allowances. 3S-