Charity registration number 1122536
Company registration number 06362939 (England and Wales)
BRIDGE SCHOOL MALVERN LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
BRIDGE SCHOOL MALVERN LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Julie Taylor
Sarah Slater (Chair)
Geoffrey Vevers
Clare Gabriel
(Appointed 10 September 2024)
Graham Quint
(Appointed 13 November 2024)
Julia Cherry Clarke
(Appointed 8 January 2025)
Secretary
Neil Hornby
Charity number
1122536
Company number
06362939
Registered office
Unit 2, Hanley Workshops
Hanley Swan
Worcester
Worcestershire
WR8 0DX
Auditor
Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Bankers
Co-operative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6WT
BRIDGE SCHOOL MALVERN LTD
CONTENTS
Page
Trustees' report
1 - 2
Statement of trustees' responsibilities
3
Independent auditor's report
4 - 6
Statement of financial activities
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 19
BRIDGE SCHOOL MALVERN LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

We are an independent special school working with young people who have struggled in mainstream schools, or for whom mainstream education is not suitable.

 

Liking themselves, recognising their unique gifts and being proud of what they do, are all as important as obtaining qualifications.

We focus on the social, practical and personal skills that will help them to achieve and keep a job and make positive contributions to their families and communities.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The school has continued to develop over the last year. Student numbers have been stable and the school remains at capacity in both the main site and the Sixth Form. The school has continued to broaden the range of opportunities available to students and this has included additional support services across the whole school, 90% of young people made a positive progression into work or further training.

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Financial review

Bridge School Malvern Ltd's total income for the year was £2,158,435 (2023: £1,985,954) and total expenditure was £2,146,977 which includes a loss on disposal of tangible fixed assets of £1,953 (2023: £1,815,239 no tangible fixed asset disposal impact). Achieving a surplus for the year of £11,458 (2023: £170,715). A breakdown between unrestricted and restricted funds is shown in the accounts.

 

Reserves policy

The Governors aim to maintain free cash reserves in unrestricted funds at a level that equates to 20% of annual charitable expenditure. The Governors consider that this level will provide sufficient funds to respond to short-term changes in funding or loss of students. If it is required that free cash reserves are used the CEO will inform the governors giving the reason and likely duration.

 

In addition, a Designated Building Investment Fund may be established as required for future investment in infrastructure, particularly to replace facilities that are lost through an inability to renew existing building/site leases. Any unexpended sums, after the cash reserve has been met, at the request of the trustees will be allocated to this fund. FSC may from time to time direct that a specific source of revenue be set aside for reserves. Permission from the FSC will be required before any funds from the Designated Building Investment Fund are used.

BRIDGE SCHOOL MALVERN LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
Structure, governance and management

The charity is a company limited by guarantee and was set up by a Trust deed.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Helen Attree
(Resigned 17 March 2025)
Julie Taylor
Sarah Slater (Chair)
Geoffrey Vevers
Judith Keene
(Resigned 9 July 2024)
Clare Gabriel
(Appointed 10 September 2024)
Graham Quint
(Appointed 13 November 2024)
Julia Cherry Clarke
(Appointed 8 January 2025)

The post of Chair of Governors is held by Sarah Slater.

 

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Auditor

In accordance with the company's articles, a resolution proposing that Kendall Wadley LLP be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Sarah Slater (Chair)
Trustee
12 May 2025
BRIDGE SCHOOL MALVERN LTD
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

The trustees, who are also the directors of Bridge School Malvern Ltd for the purpose of company law, 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).

 

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- 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 adequate 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 Companies Act 2006. 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.

BRIDGE SCHOOL MALVERN LTD
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD
- 4 -

Opinion

We have audited the financial statements of Bridge School Malvern Ltd (the ‘charity’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant 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 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

BRIDGE SCHOOL MALVERN LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD
- 5 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

- an understanding of the risk assessment process (including the assessment of the risk of fraud) adopted by the Trustee Board is obtained and their attitude to risk ascertained

- an assessment of the susceptibility to material mis-statement of the financial statements as a result of management over-ride or fraud is made

- it is ensured that the engagement team have, collectively, the appropriate competence, capabilities and skills to be involved in the assignment, are fully briefed and understand the risks specific to the charity

Audit response to risks identified

- processes to test the outcomes of our assessment include, a review of Trustee Board minutes, analytical review, the relevance and accuracy of significant accounting estimates, substantive testing of significant transactions, work to identify unusual or unexpected accounting entries including the testing of journal entries, information disclosed in the financial statements is traced to supporting documentation. In all instances it is acknowledged that material mis-statements that arise from fraud may involve deliberate concealment or collusion and are, therefore, by their very nature harder to detect than those arising from error.

- an understanding of the legal and regulatory framework as applicable to the charity is obtained together with knowledge of the procedures put in place by the charity in order to comply with the same.

- it is established if there have been any instances of non-compliance with applicable laws and regulations, where there are such breaches, a full understanding, including gathering of relevant documentation appertaining to the event is obtained and assessed.

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BRIDGE SCHOOL MALVERN LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BRIDGE SCHOOL MALVERN LTD
- 6 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Morley BA (Hons) ACA (Senior Statutory Auditor)
for and on behalf of Kendall Wadley LLP
12 May 2025
Chartered Accountants
Statutory Auditor
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS

Kendall Wadley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

BRIDGE SCHOOL MALVERN LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
300
-
300
601
-
601
Charitable activities
4
2,047,842
46,426
2,094,268
1,918,168
20,047
1,938,215

Investments

5
517
-
517
203
-
203
Other income
6
63,350
-
63,350
46,935
-
46,935
Total income
2,112,009
46,426
2,158,435
1,965,907
20,047
1,985,954
Expenditure on:
Charitable activities
7
2,098,242
46,782
2,145,024
1,795,192
20,047
1,815,239
Other
11
1,953
-
1,953
-
-
-
Total expenditure
2,100,195
46,782
2,146,977
1,795,192
20,047
1,815,239
Net income/(expenditure) for the year/
Net movement in funds
11,814
(356)
11,458
170,715
-
170,715
Fund balances at 1 September 2023
772,231
356
772,587
601,516
356
601,872
Fund balances at 31 August 2024
784,045
-
784,045
772,231
356
772,587

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BRIDGE SCHOOL MALVERN LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
429,790
327,134
Current assets
Debtors
14
28,485
88,133
Cash at bank and in hand
403,150
431,914
431,635
520,047
Creditors: amounts falling due within one year
15
(77,380)
(74,594)
Net current assets
354,255
445,453
Total assets less current liabilities
784,045
772,587
Income funds
Restricted funds
17
-
356
Unrestricted funds
784,045
772,231
784,045
772,587

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 12 May 2025
Sarah Slater (Chair)
Trustee
Company registration number 06362939
BRIDGE SCHOOL MALVERN LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
21
99,473
186,883
Investing activities
Purchase of tangible fixed assets
(133,854)
(51,066)
Proceeds from disposal of tangible fixed assets
5,100
1,200
Investment income received
517
203
Net cash used in investing activities
(128,237)
(49,663)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(28,764)
137,220
Cash and cash equivalents at beginning of year
431,914
294,694
Cash and cash equivalents at end of year
403,150
431,914
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
1
Accounting policies
Charity information

Bridge School Malvern Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 2, Hanley Workshops, Hanley Swan, Worcester, Worcestershire, WR8 0DX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold land to market value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 11 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
Not depreciated
Leasehold land and buildings
10% straight line
Plant and equipment
5% - 20% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 12 -
1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

It is to be noted as a significant estimate, the valuation of the freehold land held with the carrying amount of £72,000. See note 13.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Grants
300
601
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Services provided under contract
2,047,842
46,426
2,094,268
1,918,168
20,047
1,938,215
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
517
203
6
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
63,350
46,935
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
7
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Staff costs
1,675,810
1,463,182
Depreciation and impairment
24,145
22,280

Staff training

9,949
10,547

Teaching expenses

129,888
83,958

Consumables

1,590
473

Rent, rates and utilities

77,954
41,312
Building/site maintenance and development
89,853
80,470

Examination fees

5,863
4,973

Vehicles expenses/staff mileage

7,300
7,386

Animal care

8,294
10,403

Computer costs

21,996
18,300

Audit and accountancy fees

20,031
19,954

Legal and professional charges

14,889
9,340

Sundry expenses

5,568
4,509

Bank charges

1,263
1,304

Insurance

19,150
16,856
Pupil Premium costs
31,481
19,992
2,145,024
1,815,239
Analysis by fund
Unrestricted funds
2,098,242
1,795,192
Restricted funds
46,782
20,047
2,145,024
1,815,239
8
Auditor's remuneration
Fees payable to the charity's auditor for the audit of the charity's annual accounts:
2024
2023
£
£
Audit of the charity's annual accounts
12,600
12,000
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
50
48
Employment costs
2024
2023
£
£
Wages and salaries
1,470,644
1,290,455
Social security costs
138,376
113,284
Other pension costs
66,790
59,443
1,675,810
1,463,182

Included above is £15,000 (2023 - £nil) in respect of termination benefits.

The number of employees whose annual remuneration was more than £60,000 is as follows:
2024
2023
Number
Number
£60,000 - £70,000
1
-
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
175,265
179,789
11
Other expenditure
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net loss on disposal of tangible fixed assets
1,953
-
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -
13
Tangible fixed assets
Freehold land
Leasehold land and buildings
Plant and equipment
Computers
Total
£
£
£
£
£
Cost or valuation
At 1 September 2023
72,000
189,664
177,633
51,150
490,447
Additions
-
71,541
35,369
26,944
133,854
Disposals
-
-
(7,600)
-
(7,600)
At 31 August 2024
72,000
261,205
205,402
78,094
616,701
Depreciation and impairment
At 1 September 2023
-
33,996
103,119
26,198
163,313
Depreciation charged in the year
-
7,603
6,582
9,960
24,145
Eliminated in respect of disposals
-
-
(547)
-
(547)
At 31 August 2024
-
41,599
109,154
36,158
186,911
Carrying amount
At 31 August 2024
72,000
219,606
96,248
41,936
429,790
At 31 August 2023
72,000
155,668
74,514
24,952
327,134
2024
2023
£
£
Freehold
72,000
72,000

Freehold land with a carrying amount of £72,000 was revalued at October 2021 by David E J Prosser, FRICS, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

 

The trustees believe the valuation is still true and fair in the current financial year.

 

 

14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
80
63,630
Prepayments and accrued income
28,405
24,503
28,485
88,133
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 17 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
32,954
35,357
Trade creditors
9,881
21,407
Other creditors
8,894
6,701
Accruals and deferred income
25,651
11,129
77,380
74,594
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
66,790
59,443

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

17
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 September 2023
Incoming resources
Resources expended
At 31 August 2024
£
£
£
£
Pupil Premium
356
46,426
(46,782)
-
Previous year:
At 1 September 2022
Incoming resources
Resources expended
At 31 August 2023
£
£
£
£
Pupil Premium
356
20,047
(20,047)
356
BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 18 -
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 August 2024:
Tangible assets
429,790
-
429,790
Current assets/(liabilities)
354,255
-
354,255
784,045
-
784,045
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 August 2023:
Tangible assets
327,134
-
327,134
Current assets/(liabilities)
445,097
356
445,453
772,231
356
772,587
19
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
43,292
38,625
Between two and five years
33,125
11,250
76,417
49,875
Lessee

The operating leases represent leases of the Former Print Building, Units 2 and 3 Hanley Workshop and Unit B at Sixways from third parties. The leases are negotiated over terms of 1-5 years with phased increases over the lease term. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions.

BRIDGE SCHOOL MALVERN LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -
20
Related party transactions

During the year income of £54,172 (2023: £35,997) was received from Bridge The Gap Malvern Limited in relation to the use of Bridge School Malvern Ltd's staff and services. Bridge The Gap Malvern Limited is a company in which Neil Hornby, CEO of Bridge School Malvern Ltd, is a director and shareholder.

 

During the year purchases of £38,980 (2023: £NIL) were made from Bridge The Gap Malvern Limited for use of their services.

 

At the year end £NIL (2023: £NIL) is included within debtors receivable within one year.

 

During the year purchases of £840 (2023: £NIL) were made from St Andrews Church for the hire of meeting rooms. St Andrews Church is a charity in which Helen Attree, Director and Trustee of Bridge School Malvern Ltd, is an employee.

 

At the year end £320 (2023: £NIL) is owed to St Andrews Church. and is included within creditors due within one year,

21
Cash generated from operations
2024
2023
£
£
Surplus for the year
11,458
170,715
Adjustments for:
Investment income recognised in statement of financial activities
(517)
(203)
Loss on disposal of tangible fixed assets
1,953
-
Depreciation and impairment of tangible fixed assets
24,145
22,280
Movements in working capital:
Decrease/(increase) in debtors
59,648
(21,327)
Increase in creditors
2,786
15,418
Cash generated from operations
99,473
186,883
22
Analysis of changes in net funds

The charity had no material debt during the year.

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