Registered Charity Number: 801885
THE BRIDGE CHARITY
REPORT OF THE TRUSTEES
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE BRIDGE CHARITY
CONTENTS
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
THE BRIDGE CHARITY
REPORT OF THE TRUSTEES
The Trustees present their Report with the financial statements of the Charity for the year ended 5 April 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2019) and FRS 102 ‘Accounting and Reporting by Charities’.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 801885
Principal address
251 Hungerford Road Islington London N7 9LD
Trustees
Dr P Barratt Mr J Dixon (Resigned 13[th] July 2023) Mr H Reid Mr G Morrissey
Independent Examiner
Tom Meeks FCCA Price Bailey LLP Causeway House 1 Dane Street Bishops Stortford CM23 3BT
Structure, Governance and Management
Governing document
The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Aims and Objectives
To advance the education of the students of the Bridge MAT Limited, (formerly known as the Bridge London Trust) by providing and assisting in the provision of resources and equipment not funded by DfE/ESFA or local authority grants. To promote activities which support the trust in offering a broad and balanced curriculum and care for pupils of different abilities between the ages of 5 and 19.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have continued to review and manage the risks throughout the year.
Public Benefit
The Trustees have taken into account the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Trustees’ report demonstrates their commitment to providing public benefit.
Achievements
In 2023/24 we again received funding and donations from a consistent core group of regular supporters and ambassadors.
Contributions again ranging family and friends of young people attending our schools, [now including Easton in Norfolk alongside the regular London commitments from community partners making a difference locally, special relationships such as The Worshipful Company of Fanmakers. An additional, large single donation from Seckford & Woodford charity was also awarded to significantly boost the annual awards from the traditional yearly Bike Ride.
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THE BRIDGE CHARITY
REPORT OF THE TRUSTEES
Other projects were further boosted by corporate donations, small grant awards and match funding pledges from employers of parents. Across our schools the charity has been able to add additional outdoor play spaces, development of another additional Outdoor Learning Space and valuable resources and sensory equipment both internal and external.
Our Bursary from the Charity to support access to teacher training for unqualified staff – Michael Streat & Woodbridge Award – is now set to have supported 5 new unqualified teacher into fully Qualified teachers since inception.
We continue to work very closely with our individual schools in engaging parents through Charity Committees with 3 new committees established and 1 in development.
Financial Review
During the year total income was £171,566 (2023 - £37,776) and expenditure was £10,731 (2023 - £113,569). At the year ended 5 April 2024 total reserves carried forward were £216,986 of which £25,301 were unrestricted (2023 - £13,816) and £191,685 restricted (2023 - £42,336). Reserves are held in line with restrictions.
The Trustees have worked to eradicate the deficit on unrestricted funds by managing costs, having considered the charity’s cash flow and future income commitments for the financial year. Following this they are satisfied that the charity is a going concern for the next 12 months.
Trustees' Responsibilities Statement
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Board:
Penny Barratt
P Barratt (Wed, 29th Jan 2025 10:21:14 Penny Barratt GMT) Trustee
29 Jan 2025 Date:
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THE BRIDGE CHARITY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BRIDGE CHARITY
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on page 4 to 12.
Responsibilities and basis of report
As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Seueege>
Tom Meeks FCCA
For and on behalf of Price Bailey LLP Causeway House 1 Dane Street Bishops Stortford CM23 3BT
Date: 4 February 2025
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THE BRIDGE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES - INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024
| Note INCOME FROM: Donations 2 Income from other trading activities 3 Total income EXPENDITURE ON: Charitable Activities 4 Other expenditure 5 Total expenditure NET INCOME/(EXPENDITURE) Transfers between funds 10 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10 |
Unrestricted Fund £ - 15,377 15,377 - 3,891 3,891 11,486 - 11,486 13,815 25,301 |
Restricted Funds £ 156,189 - 156,189 6,840 - 6,840 149,349 - 149,349 42,336 191,685 |
2024 Total Funds £ 156,189 15,377 171,567 6,840 3,891 10,732 160,836 - 160,836 56,151 216,986 |
2023 Total Funds £ 23,617 14,160 |
|---|---|---|---|---|
| 37,777 107,356 6,213 |
||||
| 113,569 | ||||
| (75,793) - |
||||
| (75,793) 131,944 |
||||
| 56,151 |
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THE BRIDGE CHARITY
BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2024
| Notes CURRENT ASSETS Cash at bank Debtors 6 CREDITORS Amounts falling due within one year 9 NET ASSETS FUNDS Unrestricted funds Restricted funds 10 |
2024 £ 174,006 50,000 224,006 (7,020) 216,986 25,301 191,685 216,986 |
2023 £ 60,471 - |
|---|---|---|
| 60,471 (4,320) |
||
| 56,151 | ||
| 13,815 42,336 |
||
| 56,151 |
The financial statements were approved by the Board of Trustees on page 2 and were signed on its behalf by:
Penny Barratt
P Barratt (Wed, 29th Jan 2025 10:21:14 Penny Barratt GMT) Trustee 29 Jan 2025 Date:
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THE BRIDGE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared in accordance with the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP) FRS102. The charity is a public benefit entity for the purposes of FRS102. The functional currency is £ sterling.
Going Concern
The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charity forecasts and projections and have taken account of pressures on income. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following heading:
Expenditure on charitable activities includes donations made to other charities. Grants paid to charities and individuals are approved by trustees at meetings before formally being sent to the respective beneficiaries and accounted for by the Trust. Governance costs includes only the independent examiners fees.
Taxation
The Charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor on when funds are raised for particular restricted purposes.
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THE BRIDGE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
| 2. DONATIONS 2024 £ Donations 156,189 In 2024 and 2023, donations were entirely restricted. 3. INCOME FROM OTHER TRADING ACTIVITIES 2024 £ Fundraising events 15,377 In 2024 and 2023, income from other trading activities was entirely unrestricted. 4. CHARITABLE ACTIVITIES 2024 £ Seckford 216 ILS Playground 4,000 Film Makers ILS - ILS Sensory Room 370 Sensory Garden 1,754 ILS Summer Barbeque 500 6,840 Restricted income in 2024 was £6,840 (2023: £107,356). 5. OTHER EXPENDITURE 2024 £ Governance Costs 2,700 TBLT 1,127 Leaving Party 64 3,891 |
2023 £ 23,617 2023 £ 14,160 2023 £ 41,781 5,030 1,800 58,745 - - |
|---|---|
| 107,356 | |
| 2023 £ 2,400 3,813 - 6,213 |
In 2024 and 2023, other expenditure was entirely unrestricted.
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NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
THE BRIDGE CHARITY
6. DEBTORS
| XIX Donation | 2024 £ 50,000 50,000 |
2023 £ - |
|---|---|---|
| - |
7. TRUSTEES’ REMUNERATION AND BENEFITS
There was no Trustees’ remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees’ expenses
There were no Trustees’ expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
8. STAFF COSTS
There were no staff employed by the charity other than Trustees, who received no remuneration.
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Related party loan Accruals |
2024 £ 4,320 2,700 7,020 |
2023 £ 1,920 2,400 |
|---|---|---|
| 4,320 |
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NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
THE BRIDGE CHARITY
| 10. STATEMENT OF FUNDS Unrestricted funds General fund Restricted funds School journey Seckford Foundation Fanmakers Sammy Brett MADL – TBP – Bikes Marathon Sensory Garden ILS Playground XTX Donation Hungerford Primary ILS Sensory Room TBILS Gen MADL – TBILS Satellites Outward Bound Easton Physical Activities TOTAL FUNDS |
At 06/04/23 £ 13,815 200 8,811 3,500 2,812 2,374 1,508 16,750 - - 1,591 4,085 25 680 - - 42,336 56,151 |
Net movement in funds £ 11,486 - (216) - - - 310 (1,754) (4,000) 50,000 - 89,444 - 500 2,200 12,865 149,349 160,835 |
At 05/04/24 £ 25,301 200 8,595 3,500 2,812 2,374 1,818 14,996 (4,000) 50,000 1,591 93,529 25 1,180 2,200 12,865 |
|---|---|---|---|
| 191,685 | |||
| 216,986 |
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NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
THE BRIDGE CHARITY
Net movement in funds, included in the above are as follows:
| Income | Expenditure | Transfers | Net | |
|---|---|---|---|---|
| between | movement | |||
| funds | in funds | |||
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Fund | 15,377 | (3,891) | - | 11,486 |
| Restricted Funds | ||||
| Seckford Foundation | - | (216) | - | (216) |
| Marathon | 310 | - | - | 310 |
| ILS Sensory Room | 89,814 | (370) | - | 89,444 |
| XTX Donation | 50,000 | - | - | 50,000 |
| Satellites Outward Bound | 2,200 | - | - | 2,200 |
| ILS Summer Barbecue | 500 | (500) | - | - |
| MADL – TBILS | 500 | - | - | 500 |
| ILS Playground | - | (4,000) | - | (4,000) |
| Sensory Garden | - | (1,754) | - | (1,754) |
| Easton Physical Activities | 12,865 | - | - | 12,865 |
| 156,189 | (6,840) | - | 149,349 | |
| TOTAL FUNDS | 171,566 | (10,731) | - | 160,835 |
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THE BRIDGE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
| 10. STATEMENT OF FUNDS - PRIOR YEAR Unrestricted funds General fund Restricted funds School journey Seckford Foundation Fanmakers Sammy Brett MADL – TBP – Bikes Marathon Sensory Garden ILS Hungerford Primary Film Maker ILS ILS Sensory Room TBILS Gen MADL - TBILS TOTAL FUNDS |
At 06/04/22 £ 5,869 200 49,984 - 2,812 700 1,508 16,750 5,030 1,591 1,500 46,000 - - 126,075 131,944 |
Net movement in funds £ 7,946 - (41,173) 3,500 - 1,674 - - (5,030) - (1,500) (41,915) 25 680 (83,740) (75,794) |
At 05/04/23 £ 13,815 200 8,811 3,500 2,812 2,374 1,508 16,750 - 1,591 - 4,085 25 680 |
At 05/04/23 £ 13,815 200 8,811 3,500 2,812 2,374 1,508 16,750 - 1,591 - 4,085 25 680 |
|---|---|---|---|---|
| 42,336 | ||||
| 56,151 |
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THE BRIDGE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2024
Net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted Funds Seckford Foundation Fanmakers ILS Sensory Room MADL – TBP – Bikes Film Maker ILS TBILS Gen MADL – TBILS ILS TOTAL FUNDS |
Income £ 14,160 608 3,500 16,830 1,674 300 25 680 - 23,617 37,776 |
Expenditure £ (6,213) (41,781) - (58,745) - (1,800) - - (5,030) (107,356) (113,570) |
Transfers between funds £ - - - - - - - - - - - |
Net movement in funds £ 7,946 (41,173) 3,500 (41,915) 1,674 (1,500) 25 680 (5,030) |
|
|---|---|---|---|---|---|
| (83,740) | |||||
| (75,794) |
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Restricted Funds | Unrestricted Funds | Total Funds | |
|---|---|---|---|
| Current assets | 191,685 | 32,321 | 224,006 |
| Creditors | - | (7,020) | (7,020) |
| Net assets | 191,685 | 25,301 | 216,986 |
12. RELATED PARTY TRANSACTIONS
During the year recharges of £2,700 (2023 – £2,400) were incurred in relation to the Independent Examination and to a proportion of salary costs for a partnership and communications officer employed by The Bridge MAT Limited, of which P Barratt is CEO and Trustee.
During the year there were two elements of donations made to The Bridge MAT Limited, £6,840 (2023 - £107,356) relating to restricted activities and £1,191 (2023 - £3,813) relating to unrestricted activities.
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