REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 July 2024 |
for |
THE BAYHEAD BRIDGE CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 July 2024 |
for |
THE BAYHEAD BRIDGE CENTRE |
THE BAYHEAD BRIDGE CENTRE |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
THE BAYHEAD BRIDGE CENTRE (REGISTERED NUMBER: SC279340) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
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 year ended 31 July 2024. 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Company's objects and principal activities are: |
· To provide affordable rented accommodation for Foyer Tenants. |
· To provide student accommodation for Lewis Castle College UHI. |
· To provide enhanced social and community facilities for the Bridge Community Centre. |
· To provide accommodation for key workers for example health service personnel, or workers in education, training or social development, or their families. |
· To provide a Community Centre, primarily, for the use of the YMCA, but also for raising revenue by let to other organisations, wherever possible. |
On 1 August 2009 the charity's wholly-owned subsidiary company, Bayhead Bridge Centre (Trading) Limited took over responsibility for delivering on these objectives. From 1 April 2021 the charity assumed responsibility from its trading subsidiary of Study Room income and Wages. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Achievements on behalf of the charity: |
1. Continued to provide student accommodation over the course of the academic year, |
2. Continued resident guest stays over the year, including summer lettings and other rental fees, |
3. Continued to lease the café area, with the laundry business continuing to benefit from this activity, |
4. Continued to provide accommodation for key workers. |
5. Continued to provide a community centre and facilities for the Bridge Community Centre |
FINANCIAL REVIEW |
Principal funding sources |
The principal funding sources will be participation in the trading income of the Bayhead Bridge Centre Trading Limited. |
The Board are looking at investigating the possibility of obtaining other funding sources, primarily to fund the post of a Development Manager, who will have overall responsibility for the administration and development of the Company and who will report directly to the Board. |
Review of year and reserves policy |
During the year the charity received a donation from its subsidiary of £NIL (2023 - £423). |
The deficit in the charity for the year was £12,463 (2023 - £7,851 surplus). |
The trading performance for the Bayhead Bridge Centre (Trading) Limited for the year ended 31 July 2024 showed a loss after the donation of £2,844 (2023 - £142), with net liabilities of £142 (2023 - £287 assets). |
FUTURE PLANS |
The charity is continuing to look to consolidate its position and focus closely on working with various partners to secure regular income streams to permanently enhance the trading performance of the subsidiary company. The operations of the Centre could be enhanced by integrating with the Bridge Community Centre and a process is underway to achieve the combination of both charities with a view to maximising the benefit of the Centre to the local community. This process is taking a long time to lead to results. It is also hoped that the appointment of new board members will provide fresh impetus to the organisation. |
THE BAYHEAD BRIDGE CENTRE (REGISTERED NUMBER: SC279340) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by Guarantee, incorporated on 3 February 2005. The Company was established under a Memorandum and Articles of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the Company being wound up members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of new trustees |
Members of the Company shall be not less than two. The maximum number of Members shall be unlimited. Membership of the Company shall consist of Nominated Members being institutions and organisations who support the objects of the Company and whom the Board by unanimous agreement wish to have represented amongst the membership of the Company and shall so nominate for representation. Subject to their indicating acceptance of membership the first Nominated Members shall be set out in the Schedule attached to these Articles and signed by the subscribers as relative hereto: |
· All members shall have equal voting rights at any General Meeting of the Company |
· Each Nominated Member shall appoint a Representative who shall be entitled to be present and speak at meetings and to exercise all voting and other rights to which that Nominated Member is entitled. |
The minimum number of Directors for the purposes of incorporation and admitting the first two Members shall be two; thereafter the minimum number of Directors shall be three. Unless otherwise determined by Ordinary Resolution of the Company the Board shall consist of not more than eight Directors (subject as aforementioned) all of whom shall be appointed in accordance with the following regulation. |
The Directors shall be appointed by the Nominated Members as follows:- |
(a) For as long as Comhairle Nan Eilean Siar remains a Nominated Member of the Company it shall be entitled to appoint two Directors. |
(b) For as long as the Bridge Community Centre remains a Nominated Member of the Company it shall be entitled to appoint two Directors. |
(c) Each of the other first Nominated Members shall be entitled to appoint one Director. These are: |
1. Western Isles Foyer |
2. Hebridean Housing Partnership Ltd |
3. Lews Castle College |
4. NHS Eilean Siar |
Organisational structure |
The company owns 100% of the issued share capital of Bayhead Bridge Centre (Trading) Limited, a company registered in Scotland, number SC330003. On 1 August 2009 the charity transferred its trading operations to this subsidiary company. Any future profits arising from this company will be donated to the charity. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
THE BAYHEAD BRIDGE CENTRE (REGISTERED NUMBER: SC279340) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
A Cumming CA |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of The Bayhead Bridge Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The Bayhead Bridge Centre |
I report on the accounts for the year ended 31 July 2024 set out on pages five to thirteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
A Cumming CA |
The Institute of Chartered Accountants of Scotland |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
25 April 2025 |
THE BAYHEAD BRIDGE CENTRE |
Statement of Financial Activities |
for the Year Ended 31 July 2024 |
31.7.24 | 31.7.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities | 3 |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 144,900 |
THE BAYHEAD BRIDGE CENTRE (REGISTERED NUMBER: SC279340) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Total | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 144,900 |
TOTAL FUNDS | 144,900 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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. |
THE BAYHEAD BRIDGE CENTRE (REGISTERED NUMBER: SC279340) |
Balance Sheet - continued |
31 July 2024 |
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 and authorised for issue on |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
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 2019)', 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, with the exception of investments which are included at market value. |
The presentation currency of the accounts is Pound sterling (£). The accounts are rounded to the nearest £1. |
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. |
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 | - |
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | DONATIONS AND LEGACIES |
31.7.24 | 31.7.23 |
£ | £ |
Donation from subsidiary | - | 423 |
Other income | - | 5,000 |
3. | CHARITABLE ACTIVITIES COSTS |
Direct |
Costs |
£ |
Charitable activities | 83,303 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.7.24 | 31.7.23 |
All staff |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 144,900 |
7. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 August 2023 and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
The building was purchased for the nominal sum of £1 from Hebridean Housing Partnership, during the year ended 31 July 2012. The insurance value is £7,219,413 for the building and £360,182 for the contents. |
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
MARKET VALUE |
At 1 August 2023 and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 | 1 |
At 31 July 2023 | 1 |
There were no investment assets outside the UK. |
The company's investments at the balance sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: Rental accommodation and community centre |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves | ( |
) |
Loss for the year | ( |
) | ( |
) |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Amounts owed by group undertakings |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Social security and other taxes |
Pension Control account | 271 | 228 |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.23 | in funds | 31.7.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 144,900 | (12,463 | ) | 132,437 |
TOTAL FUNDS | (12,463 | ) | 132,437 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 70,840 | (83,303 | ) | (12,463 | ) |
TOTAL FUNDS | ( |
) | (12,463 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 137,049 | 7,851 | 144,900 |
TOTAL FUNDS | 137,049 | 7,851 | 144,900 |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 93,451 | (85,600 | ) | 7,851 |
TOTAL FUNDS | 93,451 | (85,600 | ) | 7,851 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 137,049 | (4,612 | ) | 132,437 |
TOTAL FUNDS | 137,049 | (4,612 | ) | 132,437 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 164,291 | (168,903 | ) | (4,612 | ) |
TOTAL FUNDS | 164,291 | (168,903 | ) | (4,612 | ) |
12. | RELATED PARTY DISCLOSURES |
At the year end a donation of £* (2023 - £423) is due by Bayhead Bridge Centre (Trading) Limited to The Bayhead Bridge Centre. |
Included within debtors due within one year is an amount due by Bayhead Bridge Centre (Trading) Limited to The Bayhead Bridge Centre, £28,438 (2023 - £21,771). There are no fixed term of repayment and no interest is charged on the balance. |
THE BAYHEAD BRIDGE CENTRE |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
13. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |