The Bridge Community Enterprise Limited - Charities report - 19.3.2

REGISTERED COMPANY NUMBER: 05723191 (England and Wales)

REGISTERED CHARITY NUMBER: 1117827

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2018 TO 30 MARCH 2019

FOR

THE BRIDGE COMMUNITY ENTERPRISE LIMITED

Page

Report of the Trustees

1

to

2

Statement of Financial Activities

3

Statement of Financial Position

4

to

5

Notes to the Financial Statements

6

to

13

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the

financial statements of the charity for the period 1 April 2018 to 30 March 2019. The trustees have adopted the provisions

of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their

accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)

(effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects as stated in the founding document are:

1) To promote for the benefit of the community by associating together the said community and the local authorities,

voluntary and other organisations in a common effort;the advancement of education and provision of facilities in the

interests of social welfare; for recreation and other leisure-time occupations with the objects of improving the conditions of

like in the community;

2) To establish an accessible community centre and to maintain and manage the centre in furtherance of these objects.

Significant activities for the public benefit

The Bridge started the new financial year with a remit set-out during the previous year to continue the process of

transferring all assets to a local chosen charity; Parchment Trust. We spent time meeting with the Trustees from

Parchment Trust and members of their staff team, and a joint project plan was drawn up between the two charities. Both

charities took on solicitors to oversee the Transfer process.

Following on from the initial meetings between the Bridge and Parchment it was agreed that a legacy Trustee from the

Bridge would join Parchments Trustees. Nina Siddall-Ward joined Parchment as a legacy Trustee to represent community

interests within the Parchment board of Trustees, during and following on from the Transfer.

Discussions took place between the Bridge and Parchment, drawing up plans for a licence to be given to Parchment for use

of the Bridge. Although a licence was not taken up by Parchment during this year they did take over an office at the

Bridge maintaining a permanent presence at the Community Centre.

We were unable to complete the transfer between the Bridge and Parchment during this year; experiencing numerous

delays with such issues as claims on the building from other parties and aligning company charitable goals. Despite these

delays the Bridge has preserved and tried to move forward with the process.

During the year Trustees worked through many difficulties in maintaining the building and keeping the doors open with

no staff to assist. This involved the help of volunteers, Trustees, Bridge users, and Parchment Trust assisting in opening,

gardening, cleaning, and maintaining the building. The Trustees are very grateful for all of the support received during

this time, particularly from HVA who provided much needed support and advice during this time.

This was a particularly difficult year for the Bridge, marked with the heavy disappointment that we were unable to

complete the transfer during this financial year, and further disappointment that the Bridge building was not able to be

utilised to its full potential during this time. However we will continue to pursue our remit to wind down the charity and

complete a transfer to Parchment Trust as we go forward into the next financial year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05723191 (England and Wales)

Registered Charity number

1117827

Registered office

The Bridge

361 Priory Road

Hastings

East Sussex

TN34 3NW

Trustees

Ms J Kramer Project Worker + Local Council

Ms N M Siddall Educational Consultant

Miss S E Willmont Nhs Administrator

Miss B Ripley Silver Smith

Mrs P Smart Retired

Mr M Deaves Certified Chartered Accountant

C Roberts Service Development Manager (resigned 21/3/2019)

Company Secretary

Miss S E Willmont

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

This report has been prepared in accordance with the special provisions of Part 15 of Companies Act 2006 relating to

small companies.

Approved by order of the board of trustees on 23 March 2020 and signed on its behalf by:

Ms J Kramer - Trustee

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

2

38,409

-

38,409

70,116

EXPENDITURE ON

Raising funds

3

94

-

94

3,901

Charitable activities

4

Support costs

34,830

-

34,830

36,129

Direct costs

9,493

-

9,493

12,446

Staff costs

-

-

-

40,528

Other

-

-

-

960

Total

44,417

-

44,417

93,964

NET INCOME/(EXPENDITURE)

(6,008

)

-

(6,008

)

(23,848

)

RECONCILIATION OF FUNDS

Total funds brought forward

433,455

-

433,455

457,303

TOTAL FUNDS CARRIED FORWARD

427,447

-

427,447

433,455

2019

2018

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

10

424,611

-

424,611

436,263

CURRENT ASSETS

Debtors

11

3,192

-

3,192

6,862

Cash at bank

942

-

942

206

4,134

-

4,134

7,068

CREDITORS

Amounts falling due within one year

12

(1,298

)

-

(1,298

)

(9,876

)

NET CURRENT ASSETS

2,836

-

2,836

(2,808

)

TOTAL ASSETS LESS CURRENT LIABILITIES

427,447

-

427,447

433,455

NET ASSETS

427,447

-

427,447

433,455

FUNDS

13

Unrestricted funds

427,447

433,455

TOTAL FUNDS

427,447

433,455

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2019 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 23 March 2020 and were signed on its behalf by:

Ms J Kramer - Trustee

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been

prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of

Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting

Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies

Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is

probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the

amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been

classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed

to particular headings they have been allocated to activities on a basis consistent with the use of resources.

ALLOCATION AND APPORTIONMENT OF COSTS

Support costs are those that assist the work of the charity but do not directly represent charitable activities and

include office costs, governance costs, administrative payroll costs. They are incurred directly in support of

expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings

they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with

use of the resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

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 or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

DESIGNATED FUNDS POLICY

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

2.	OTHER TRADING ACTIVITIES

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

£

£

Room hire

38,409

37,792

Café income

-

32,324

38,409

70,116

3.	RAISING FUNDS

OTHER TRADING ACTIVITIES

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

£

£

Purchases

94

3,901

4.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 5)

Totals

£

£

£

Support costs

30,982

3,848

34,830

Direct costs

9,493

-

9,493

40,475

3,848

44,323

5.	SUPPORT COSTS

Governance

costs

£

Support costs

3,848

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

£

£

Depreciation - owned assets

11,652

12,138

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 March 2019 nor for the year ended

31 March 2018.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the period ended 30 March 2019 nor for the year ended 31 March 2018.

8.	STAFF COSTS

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

£

£

Wages and salaries

-

40,528

-

40,528

The average monthly number of employees during the period was as follows:

Period

1.4.18

to

Year Ended

30.3.19

31.3.18

Staff

-

7

No employees received emoluments in excess of £60,000.

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

70,116

-

70,116

EXPENDITURE ON

Raising funds

3,901

-

3,901

Charitable activities

Support costs

32,689

3,440

36,129

Direct costs

12,446

-

12,446

Staff costs

40,528

-

40,528

Other

960

-

960

Total

90,524

3,440

93,964

NET INCOME/(EXPENDITURE)

(20,408

)

(3,440

)

(23,848

)

RECONCILIATION OF FUNDS

Total funds brought forward

453,863

3,440

457,303

TOTAL FUNDS CARRIED FORWARD

433,455

-

433,455

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2018 and 30 March 2019

525,000

39,202

19,126

13,007

596,335

Depreciation

At 1 April 2018

94,500

34,233

18,332

13,007

160,072

Charge for year

10,500

994

158

-

11,652

At 30 March 2019

105,000

35,227

18,490

13,007

171,724

Net book value

At 30 March 2019

420,000

3,975

636

-

424,611

At 31 March 2018

430,500

4,969

794

-

436,263

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

3,192

3,902

Other debtors

-

2,960

3,192

6,862

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

73

Social security and other taxes

98

98

Growing Communities loan

-

8,565

Accruals and deferred income

1,200

1,140

1,298

9,876

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.18

in funds

30.3.19

£

£

£

Unrestricted funds

General fund

(2,285

)

5,645

3,360

Designated fund

435,740

(11,653

)

424,087

433,455

(6,008

)

427,447

TOTAL FUNDS

433,455

(6,008

)

427,447

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

38,409

(32,764

)

5,645

Designated fund

-

(11,653

)

(11,653

)

38,409

(44,417

)

(6,008

)

TOTAL FUNDS

38,409

(44,417

)

(6,008

)

Comparatives for movement in funds

Net

movement

At

At 1.4.17

in funds

31.3.18

£

£

£

Unrestricted funds

General fund

5,462

(8,270

)

(2,808

)

Designated fund

448,401

(12,138

)

436,263

453,863

(20,408

)

433,455

Restricted funds

Restricted fund

3,440

(3,440

)

-

TOTAL FUNDS

457,303

(23,848

)

433,455

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

70,116

(78,386

)

(8,270

)

Designated fund

-

(12,138

)

(12,138

)

70,116

(90,524

)

(20,408

)

Restricted funds

Restricted fund

-

(3,440

)

(3,440

)

TOTAL FUNDS

70,116

(93,964

)

(23,848

)

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 30 March 2019.

15.	POST BALANCE SHEET EVENTS

GOING CONCERN

During the year end the charity's core funding has ended.Therefore the decision has been made to wind the charity

down once the assets have been transferred out, as detailed in the Trustee Report.