REGISTEREO COMPANY NUMBER.. 02225130 (England and Wales) REfjISTERED CHAAITY NUMBER.. ICK17947 REPORT OF THE TRUSTEE5 ANO UNAUDITED FINANCIALSTATÉMEN15 FOR THE YEAR ENDED 31 MARCH 2021 FOR OSEL ENTERPRISE5 LIMITED Bright Brown Umlted Chartered Accountants Exchange House st. Cross ne Newport Isle of Wight P030 5BZ
OSEL ENTERPRISES UMITED CONTENTS OF THE FINANCIALsfATEMENTS FOR THE YEAR ENDED 31 MARCH 1021 Page Report of the Trurtees Independent Examlner's Report Statement of Flnancial Artlvliles Balance Sheet 8 to 9 ra$h Flow 5t#tement io Notes to the Cash Flow Stzternent li Notes to the Flnandal statements 12 to 23 Detalled Statement of Flnanclal ActlTrAties 24 to 25
OSEL ENTERPRISES LIMITED REPORT OF THE TRUSTEES FOR THE VEAR ENDED 31 MARCH 2021 The trustees who are also diiectors of the charity for the purp05e5 of the Companies Act 2006, present thelr report with the fInancal statements of the charity for the year ended 31 March 2021. The trustees have adoptèd the provision5 of Accounting and RÈportin8 by Chariries.. Statement of Recommended Prattlte applicable to ch3rkties prep3rin8 their accounts In accordance vhth the Financial Reportln8 Standard applicable In thÈ UK and Republlc of Ireland IFRS 1021 leffÈctSve l January 20191. OBJECTIVES AND ACTIVITIES Objertives and prlnciple artlvity 05el Enterprises Ltd Is an inclusive, outstandlng 5UPPOrt, educatlon and learing service trjased on the Isle of Wight. Established to provide work for people with dlsabilities, 05el Entefprlse5 ctsntinue5 to work with people Encouragng independence and promoting communlty groups, offering ASDAN education. arran8Sng volunteering and woklng with local employers to offer paSd employment opporttjnities. Osel Enterprlses Ltd Is managed by a board of trustees who live on the Isle of Wight and are Involved in the local community. Public benefft The tru5teÈ5 have paid due regard to the guidance from the Ch3rity Commission re8arding publlc benefit and what activities the charity should undertake within thls. The charity seeks to operate within the communitVJ offerin8 Èmployment, edutation ènd person-centred support to people with 8 lÈaming disability or people recovering from mental health issues. ACHIEVEMÉNT AND PERFORMANCE Mana8er'5 Report l am proud to say thai Osel Enieiprises Ltd, in the 13St year ha5 Contlnued to offer outstandir$8 service5 durin8 a very difficult trading period. OUT ethos Is to inspire people with di5abillties and rnental he31th issues to play a fvll part in thelr local community and to ensure that the 5LTrPPOrt and produrts we provlde continues to meet aJstomer/funcllnE requirements by listenlng to them and actin8 upon their wishes. Due to the pandemic, we adapted our working practlces all departments to follow government guldellnes and m3intairt the services that we offer In a safe, profe5510Th31 way. Way Forward offers one of the best LeaininK Disability Oay centres on the Island,. offerlng pers0n-centd support that encourages progression, independÈnce and positive outcomes. Exerclse support was offered during the lockdown instead of internal group se55ions, thls allowed us to go out Inio the community to SUPPOrt our customers and reduce customey anxlety levels during a very unwtain perlod. Llving Well funding ersded in June, this service was a success and reached out to people in the communit¥ th3t normallv would not be able to acce55 hÈlp and support frtsm an experienced third-party provider, Thi5 servicè allowed u5 to develop our relationship with Other Island organi53tlons whlch could lead to other opportunities sn the fUtre. Workilsg Towards Wellbein8 continuÈs to expand its servltes due to excellent job rÈtentionlemployment results and ha5 received incre3sed funding from the Department of Work State and Ppnsions to provide an additional emplDyment 3dvlsor. Face to face rneeting5 were replaced with telephone 3ppolntmÈnts to help maintain our ernployment advice and support service. Staff continue to work long hours to cope wlth Increased demand. Due to the rellance on the NHS and the DWP funding, Workimg Towards Wellbeing is 8pptySng for other funding Sources to help secure its future. Page I
OSEL ENTERPRISES LIMITED REPORT OF THE TAUSTEES FOR THE YEAR ENDED31MARCH 2021 Wi8ht Crystal ha5 continually changed it5 product offer to refloct the Changed publSc attitude towa¥ds single se plastics. Our cu51omers are offered a selection ol retycled. recyclable, biodegr3dable and comp05table produrts but we remain alÈrtto changing consumer trend5. Lowering costs by w¢rt¢lng more efficiently and not replaclng staff has helped Wight Crystal fu1 Its orders On time and in full. We welcgmed the return of some smaller events and customers began to turn their watercoolers back on. Desplte thp. Covid challe¥bges, Osel has stabillsed Its servltes and is seeing a gradual return of Its customers dnd referrals after the governmentS'5tay at home, advice and the shutdown of the Way Forward centre. Trècey Hlll- Chlef Executlve Officer- Osel Enterprf5es Ltd Flnahtlal results Ag3in, the charlty Ènjpyed a SucsSfUl but inevitably challenging year, th new cu5torners and referrals joining Way FoNiaKd. Wight Crystsl and Working Tow3rd5 Wellbeing. New fundinE oppofEunlties encouraged the Mental health service to expand, telephone services were IntrodUd where face to face appointmonts were impossible. Further expanslDn of the Se• Is expected in time ahead as normallty Slowly resumes. The charity enjoys an enviable reputation for delivering quality support, always exceedSnR the expectstion tsf its seNice users. Putting money back into our servlces Ènd the continual development of our staff, despite the ¢hallenEes ot two Covid lockdown5, 05el has continued to operate salply. Currently we employ 34 people and have utilised the governments furlough Scheme wherever possible. Oesplte thls, we have Tedtsced headcount without resorting to redundancy payments. We h3ve an excellent, stsble workforce, valuSng our people creates opportunities for development, which in tum helps secure long £ervi. Recognising our talented team members has helped stablllse all three enterprises and produ&s outstanding results. Osel Enterprises Ltd is detÈrmlnÉd to continually lrnprove its services. products, and Internal worklng Pract15. We strive to stsy ahead of the competitioTr and to be an efficient forward-thinking charity that stsnds out from all other soclal enterprises on the Island. We expect the coming months and fvll year to be challenging berduse of the aftermath of Covld hnd the Inevitable t18htenlng of local and national fiJndiM8 for people with Leartling Disabilities. Increased funding for Mental Health Servlces is expected due to the addltional people with mental ill health due lo the p3ndernio FINANCIAL REVIEW Reserves pollcy The trustees conslder that the unrestricted funds, which arÉ tho free reserves of the tharlty. should be maintained at tevel which equate5 to approximately four months expendsture. The current level of reserves held in the gÈneral fund are £487,574 and are £415.076 after excluding fixed assets wh5ch means the charity is in line wSth the policy and the trusteos will Eontlnue to monitor the funds levels to ensure this is maintained. Tot31 lllcome for the year was £834,206 including £628.437 from unrestrlcted actlvltles and £205,769 from restricted 3clivitle5. Totsl expenditure in the year was £828,842 includng £668,398 from unrestrirted activities and £160,444 from re5tritted activities. This resulted in a total operating surplus of £5,364 consisting of a deflclt of £25,836 in respect of unrestrlcted a¢tivitie5 and 8 5urplv5 £31,200 in respett of restrlcted activlties. Page 2
OSEL ENTERPR TrSES LIMfrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH Z02J FINANCIAL REVIEW Challenges A constant ch3nglng environment 15 making everyday life at 05el Efiterprises Ltd harder for staff, customers aTrd referral5. New way5 of working, thinking out51de of the box and coping with exh3ustinE and émotlonal shift patterns Is an essential skS11 that has helped vs SrVive during an un5ta+Jle tradln8 period. We have experienced a tl8htening of social setvice5 budgets for new and existSnE Way Forward customers and we offered more cri515 SUPPOrt due to the pandernic. Way Forward has been selectÈd to be p3rt of an Indivldual Ser¥Jice Fund tTial with the IOW Council, th will offerflexibilityfoi the cu5tDrner and wlll help produ posltwe outcomes. Way Forward experienced si8nlficant drop-off In customer attendance and was forced to shut down on two occasions due to the governThent gurdelines to'stay at home.. Wight Crystal water has also seen a reduction In sale5 and ha5 found atcess to customer premises for cleaninglsteTili5in8 equipment challenging. Wight Crys1315till operated essential daily delivèry service to the hospltal, h05pice and care homes across the Island during the lockdown. The fvlental Health Ernployment Service ha5 increasln8 referial nurnbÈrs and we have received Increased funding from the CCG and the DWP lor 2CJ20121. FUTURÉ PLANS Way Forward Way Forward h35 applled for fvnding for new IT equipment and workforce COVID-1g funds wlth the Isle of Wlght Council. The bespoke database continues to bp developed and is giving staff easy ac55 to customer records. HR informatlon and customer attendance sV5tem. Wlght Crystal Wight Crystal will concentrate on bullding back Its water sales OTder book and catching up with a backlog of service eleaninE and diSnIecting over the next 12 months. Wight Crystal will source a range of non-contact water coolers to give the cu5torner a safe alternatlve to the traditional tsp operated modols. Oespite the many challenges, we rnanaged to malntaln deliveries ol both water and cooler supplies and as over, new opportunities are constantly being investigated. Our plan to offer our spring wator in 8las5 bottlÈs for local h05Pitalitv businesse5 put on hold untll the tr3ding envirtsnrnent improved. We wlll proceed a5 500n as possible with this plbn. Workin8 Towards Wellbeln8 Working Towards Wellbesng continues to expand its support services dve to an excellent tTack rec(Ird of results, We expect to continue wlnning addltlonal fundiThg from the DWP for a full-tlme Employment Advlsor and a part-time data collectlon P051tlon. The board would like to place on record its thanks to all of its excelleni staff but with particular praise 8oing to our Chief Executive Offlcer, Traw Hill. A5 in prÈvious ¥ears, fracey has rlsen to the extraordinary challenges faced in these difficult times and rEmÈins the driving force behind our ongolnE success. David Holmes- Chairman Page 3
OSEI ENTERPRISES LIMITED REPOAT OF THE TRLISTEES FOR THE YEAR ENDED 31 MARCH 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by Its 8¢)vern¢n6 document, a deed of trust. and constitutes a limited company, limited by guarantee, as defined by the Companles Aet 2CQ6. Tfu5tees. organ15atlon Bnd management The busine55 01 the charitable company is managed by the board of trustces,. the number of trustoes is not subject to a m)ximum. The trustees hold adhoc meeting5 but tle Chairrnan in particular also has Gonstsnt Week contsct V4fih the chief executive offfter. Prospectwe director5rtru5tees are initially approached by a member of the board, prior t(> such nomination being proposed at a board meetlng, and sublect to such proposal receiving the 5VPPOrt of the board, the proposed new trustee is then invited to join the board and following hls/her acceptance Is fully brlefed as to charlty matters and it's 3lrns and oblectives at the first board meetlng which hejshe atten(Is. There are no formal p¢licles or procedures for the Inductlon and training of trustees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02225130 (England and Wale51 Reglstered Charlty number 1007947 Re815tered offi¢e 7 Dash Way Dodnor Industrial Estste Newport 151e of Wight P030 SXI Trustees C P BD5wÈII O L Holmes C A DenThett Independeni Examlner 8righl Brown Limited Chartered Accountants ExchanEe House 5t. Cross Lane Newport Isle of Wight P030 58Z Page 4
OSEL ENTÉRPRISES LIMITED REPORT OF THE TRUSfEES FOR THE YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMINISThATIVE DETAILS Bankers HSBC 101 St James Street Newptsrt Isle of Wight P030 IHX SDll¢rtors Eldridges Avenue House AYee Road Freshwater Isle of Wight P040 9U2 ved by order of the board of trustees on..........................-.................. and slened on its trJehaK by.. D L Holmes-7rustee Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OSEL ENTEIIPRISES LIMITED Independent examlner'5 report to the trustees of OSEL Enterprlses Llmited I'the Companv'l report to the chariiy trustee5 on my examination of the accounts of the Company for the year ended 31 March 2021. Responslbilities and basls of report As the chaTIt¥'S tFU5tees of the Company land also Its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accord3nce with thÉ requirements of the Companies Act 26<'the 2006 Act'l. Hawng satisfled mysew that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and arc eligible for independont examination, I report in respett ol my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 1.tho 2011 Act'l. In carrying Dut my Qmination I have followed the t)irectlons given by the Chaiity Commission under section 145151 Ibl ol the 2011 Act. lttdependent examlner's stotement Since youf charty,5 gross income exceeded £250,(m your oxaminor must be a member of a listed body. I can confirm that l am gualified to undertake the examination because l am a reRist&red membÈr of ICAEW which Is one of the lisied bodies. I have completed my examlnailon. I conflrm th3t no matter5 have Come to my attention in connection wlch the examination giving me cause lo beliewe.. accounting recoTd5 were not kept in respect of the Company 35 required by section 386 of the 2006 Act,. or the accounts do not accord wlth those records: or the accounts do not comply wilh the accountinK requirements of section 3g6 of the 2W6 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as p8n of an indepo.ndent examlnation,. or the accounts have not been prepared in accordance with the rnethod5 and principles of the Staternent of Recomrnended Practice for accountlng and reporting by charltles (applicable to charltles preparlng their acc¢unts in accordan wlth the FinaTrc$31 Reporting Standard applicable in the UK and Reptjblic of Ireland IFRS 10211. I have no concerns and have come aEr0$5 nD Other rnatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. D Stevens ACA ICAEW Bright Brown Limited Chartered Account3nt5 Newport Isle of Wight Datè.. £s Za£l Page 6
OSEL ENTERPRISES LIMfrED STATEMFNT OF FINANCIAL ACTIVITIE5 IINCORPORATING AN INCOME AND EXPENorrvRE ACCOUNTI FOR THE YEAA ENDED 31 MARCH 2021 2021 Total funds 2020 rotal funds Unrestricted fL(nds Restricted funds Notes INCOME A14D ENDOWMENTS FROM Donations and leBacies 5,457 5,457 10,814 Charitable aCtltIeS Wight Crystal Way Forward Working Towards Wellbeing Living Well 204,058 289,770 203.058 308,781 176,867 9,443 311,937 582,502 170,055 37.773 19,011 176,867 9,443 Investment Income other Income 2,5.58 127,594 448 3,006 127.594 2.563 Total 628.437 205,769 834,206 1,115,644 EXPENDIWREON Charitable actlvitle5 Wight Crystal Way Forward Workit)g Towards Wellbein8 LivlnE Well 235,447 432,951 235,447 438,346 145,577 9,472 299.791 563,426 131,274 33,818 5,395 145,577 9,472 Total 668,398 160,444 828,842 1,028,309 NEF INCOMEJIEXPENDITUREI 139,9611 45,32S 87,335 Transfers between fvnds 16 14,125 114,1251 Net movernenl in funds 125.8361 31,2(K) 5,364 B7,335 RECONCILIATION OF FUNDS Total funds brought forward 516,863 54,235 571,098 483,763 TOTAI FUNDS CARRIED FORWARD 491,027 85,43S 576,462 571,098 The notes form part af these linanclal statements Page 7
OSEL ENTERPRISES LIMITED BALANCE SHEET 31 MARCH 2021 2021 2020 Note5 FIXED ASSETS Tangible assets li 71,898 71,761 CURRENT ASSErs stocks ebtors Cash at bank and in hand 12 13 62,203 52,035 423,035 63.333 83,505 393,136 537,273 539.974 CREDITORS Amounts falling due within one year 14 132,7091 140,6371 NE[ CURRENT ASSETS 504,564 499,337 TOTAL ASSEfs LES5 aiRREMf LIABILITIES 576,462 571.098 NET ASSETS 576,462 571,098 FUNDS Unrestricted lunds Restricted fuDd5 16 491,027 BS,435 516,863 54,235 TOTALFUND5 576,462 571,098 The charitable company Is entltled to exemptlon from audlt under Sect5on 477 of the Companle5 Act 2006 for the year ended 31 March 2021. The Tnefnber5 have Flot re9uired the cornp3ny to obtain an audlt of its financial statements for the year ended 31 March 2021 in Jtcordante wlth Section 476 ijl the Companie5 Act 2(M)6. The trustees acknowledge their responsibilities for ensuring that the charitable cornpany keeps accountSnB records that comply wlth Sectlons 386 and 387 of the Companlos Act 2006 and preparing financi81 stètements which give 3 true and fair vlew of Ihe state ol affairs of the charitable company ès 81 the end of each financial yÉar and of its surplus or deficit lor each financi31 year in accordance with the requirements of SectlOn5 394 and 395 and which othefwise comply with the requlrements of the Companies Act 2006 relÈting to financlal statemÈnts, sa far as applicablÈ to ihp charitable company. Ibl The notes form part of these ftnancial statements Pale 8 continued...
OSEL ENTERPRISES LIMITED BALANCE SHEET- ¢onilnued 31 MARCH Z021 These financial Statements have been prepared in accordance wlth the provisions applicable to charftable companies subject to the small tomp3nies regime. The finan¢lal statements were approved by the Board of Trustee5 and authorised for issue on ere signed on it5 behalf by.. O L Holmes- Trustee The notes forrn part of these financial statements Pa8e 9
OSEI ENTERPRISES LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 otes Cash IIow5 from operatlng artlvllles Cash generated from operations 48,095 129.794 Net cash provided by L7perating actltIeS 48,095 129,794 Cash flow5 from Inve5trng aCtItieS Purchase of tan8lble fixed a552ts Sale of tangible fixed assets Interest recetved 124,7021 3.500 3,006 138,5601 2,583 2,563 Net £3sh used in investing actNities 118,1961 133,4141 Change In cash and cash equivalents In the reportlng pÈrlod Cash and cash eqLt4valents at ihe beglnning of the reportlnw perlod 29,899 96,380 393.136 296.756 Cash and tash equlvalent5 at the end of the reportlng perlod 423.035 393,136 The notes form part of these flnantlal statewnent5 PaEe 10
05EL ENTERPIIISES LIMITED NOTESTO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES 2021 2020 Nel Income forthe reportlng perlod las per the Statement of Fsnandal ActTrvit4es1 Adlu5trnents for: Depretiation charges IPrtsfltl/loss on dlsposal of fixed asset5 Interest recelved Oecrea5e/lincrÉasÈl in stocks Decrease in debtors Decrease in creditors 5,364 87,335 24,565 13,5001 13,0061 1,130 31,470 17.9281 26,875 746 12,5631 19,3261 33.017 16,2901 Net cash provlded by operatlon5 48,095 129,794 ANALYSIS OF CHANGES IN NET FUNDS At 1,4.20 Cash flow At 31.3.21 Net Cash sh at bank and lfi hand 393,136 29,899 423,035 393,136 29,899 423,a35 Total 3ga,136 29,899 423,03S The notes form part of these Ilnsntial staiements Pa8e 11
OSEL ENTERPRISES UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011 ACCOUNTING POLiaE5 Basls of preparing the flnanclal statements The financial statements of the charitable tompany, which is a public benefrt entity under FRS 102, have been prepared in 3Ctordance with the Charities SORP IFRS 1021 'Accountin8 and Reporting by Charitles.. Statement of Recommended Practice applkable to char(ties preparlng their a¢count5 in accordance with the Flnan¢lal Reporting Standard 8pplicable in the UK and RepUblC of Ireland IFRS 1021 lÈffe¢tive l January 20191,, Finan81 Reporting Standard 102 'The Financial ReportinE Standard appllcable n the UK and RÈpubllt af Ireland, and the Companies Act 2006. The flnanclal statements havt been prepared under the h15tDrical cost convention. The charitable compaTry is reBiStered In England and Wales and Is limited by guaiantee. Income Voluntary Income Donatlolls are recognised In the Ststement of Finantiol Actlvitles once the tharitable cornpaThy has entitlement to the funds, it is prob3ble th3t the Income will be rec&ived and tho awnount can be measured reliably, this is generally upon receipt of the donation. Investment lttcome Interpst receivable 15 recognised over the period is accrued except where there are condit10115 imposed that must be met bÈforE interest is recleved. Where thls is the case the income Is recognised Dnee the wnditions have been met. Charitable Activities Income Irom trading activities is reco8nised, net of VA7 and all other sales taxes when the goods are delivered or services are provlded. Grants are recognlsed when uncondStl(Jnal entitlement to the income Is passed to the charitable company. Where there are performance related terrns and conditions that Must be met before unconditional eThtStlement pèsses to the charitable company the ncoMe is recognised once it Is hlghly probable that thesc will be met. Where no such condltions exist the income Is recogn15ed when it ts received. Expendlture Liabllities are reco8nlsed as expenditure as Soon as there is a legal OT constructive obliE3tion commlttlng the charity to that expenditure, it is probable that a transfer ol economlc benellts will be required In settlement and the amount of the obligation can be measured reliably. Expendlture is èccounted for on èn accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direct attributed to partlcular headings they h3ve been allocatÈd to aclivities on a basis COnSlStent with the use of resourtr5. Allocatlon and apportlonment of costs The only costs not already dlrectly attributed to an aCtltY a govemance costs. These have been apportioned evenly between the non-restritted activitie5 of the charf(y. Tanglble fixed assets DeprEciatlOll 5 provlded at the following annual re5 in order to write aff oa¢h asset over its estimated useful Ilfe.. Plant aThd m3chinery Flxture5 and flttings Strdlght line over 4 or 5 years - Stroight line over 4 or 5 years Page 12 continued...
OSEL ENTERPRISES LIMtrEO NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES- continued Tangible Ilxed assets Motar vehicles Re¢lpes Stralght line over 4 or 5 years Stralght line over 5 yea Stocks Stocks are valued at the lower of cost and net reslisable value, after making due allowance for obsolete and slow movino items. The dIve of finished goods is calculated by using hourly labour rates dlvided by number of product5 in a set. plus the value of raw materials. Overheads of production are not factored into the valuation lormulae. Taxatlo The charity ts exempt frorn corporation tax on its charitable activities. Fund accourrting Unrestrlcted funds can be used in accordance with the charitable objectives at the discretlDn of the Iiustee5. Restricted funds can only be used for particular restflcted purposes within the objects of the charily. Re51tlrtions arise when specified by the donor OY when funds afe raised for particular rtrIcted purposes. Further explanatlon ol the nature and purpose of each fvnd is included In the note5 to the financi31 statement5. Penslon costs and other p05t-retirement benefits The charitable company operates a defined contrlbution pension scheme. Contributions pay3ble to the charitable company's penslon scheme are charged to the Statement of Financial Activities 111 the perlod to which they relate, DONAIIOMS AND LEGACIES 2021 2020 Donatlons S,457 10,814 INVESTMENT INCOME 2021 2020 Deposit account interest 3,006 2,563 Page 13 contlnued...
OSEI ENfERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 INCOME FROM CHARITABLE ACTIVITIES 2021 2020 Activity Wight Crystal Wight Crystal Wight frystal Way Forward Way Forward Way Forward Sales CDG income Miscellaneou5 incomé Sales Support contracts COG income Travel & expenses ielrnbursed by client Grants Activities income Miscellaneous income Grant5 Grant5 185.975 17,083 293,675 18,143 119 2,531 552,162 2,837 272,101 5,224 Way Forward Way Forward Way Forward Way Forward Working Toward5 We1lbeng LVIng Well 9,120 19.011 88 400 176,867 9.443 18,342 4,023 5,444 170,055 37.773 698,149 1,102,267 Grants received, included in the above, are as follows.. 2021 2020 IOW NHS CCG IWorkingtOVTard5 wellbeing) AgÈ Co#tÈrn IW (Living Welll NHS IOW EA IIAPT Scheme) NHS IOW Data Collection 151e of Wight Councll Island Roads 112.583 9.443 73,284 Ig,0001 14,886 4,125 105,624 37,773 57,431 7,000 205,321 207,828 Pase 14 continued...
OSEL ENTERPRISES LIMITEO NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 CHARIYABLE AcfiviTIE5 COSYS Support Costs Isee note 61 Dlrect C05tS Totals Wight Crystal Way Fonward Working Towards Wellbeing Living Well 234,918 437,190 145,164 9,472 S29 1.156 413 235.447 438.346 145,577 9,472 826,744 2,098 828.842 SUPPORT COSTS Governante costs Wlght Crystal Way Forward Working Towards Wellbelng 529 1,156 413 2.8 NET INCOMEIIEXPENDITUREI Net Incomellexpenditurel Is stated after chzr8(ngllcredftingl.' 2021 2020 Auditors, rernuneratlon other non-audit services Depreciation . owned assets Other operating lezses Surpluslldelicitl on dlsposal of fixed assets 3,150 1,386 26,874 44,501 746 24,565 45,737 13,5001 Page IS continued...
OSEL ENTEflPR15ES LIMITED NOTES TOTHE FINANCIAL STATÉMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES, REMUNERATION AND 8ENEFtrs Theie wÈrÈ no trustÈes' rÈmuneration or other benefits lorthe year ended 31 March 2021 nor for the year ended 31 Marth 2020. Tru5tees' expenses There wpre no trsteS, expenses paid for the year ended 31 Mèrch Z021 nor forthe year ended 31 March 2020. STAFF COSTS 2021 2020 Wa8e5 and sal2riÈs 5uclal security costs Other pension costs 541,384 34.149 11.732 627,369 40,159 12,790 587,265 680,318 The average monthly numLier of employees during the year was as follow5.' 2021 2020 OSEL- full time Living Well- lull tlme WiEht Crystal f¢Jll time Wlght Cryst31- part time Way FomoTd- full tirne Way Foiward- part tlme Worklng Towards Wellboing- full tirne 16 17 34 38 ND employees received ernolurnents in excess of £60,000. Key personnel employed during the year were as lollow5'. Job ROIÈ Chief Fxecutive Officer.. Remuneration É39,563 Page 16 continued...
OSEL ENTERPRISES LIMITÉD NOTESTO THE FINANCIAL STATEMENTS- contlnved FOR THE YEAR ENDED 31 MARCH 2021 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Tolal funds INCOME ANO ENDOWMENTS FROM Donatlon5 and legacies 10,814 10,814 CharltablÈ artlvliles Wlght Crystal Way Forw3rd Workln8lowards Wellbeing LwinE WEII 311,937 S22,502 311,937 582,502 170,055 37,773 170,OS5 37.773 Investment Income 2,440 123 2,563 Total 907,693 207,951 1,115,644 EXPENDITURE ON Charitable actN4tles Wlght Crystal Way Fotward Working Towards Wellbelng living Well 29g,791 563.426 299,791 563,426 131,274 33,818 131,274 33,818 Total 863,217 165.092 1,028,309 NET INCOME 44,476 42,859 87,335 RECONCILIATION OF FUNDS Total funds brought fonward 472.387 11.376 483.763 TOTAL FUNDS CARRIED FORWARO 516,863 54,235 571,098 Page 17 continued..-
05EL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENOED 31 MARCH 1021 ii. TANGieLE FIXED AS5ET5 Fixtures and littines Plant and machlnery Motor vehlcles Recipe5 rotsls COST At l Aprll 2020 Additions Disposals 219,433 6,937 25.869 5,445 111.597 12,320 111,3941 9,0 465,899 24.702 111,3941 At 31 March 2021 326,370 31,314 112.523 9,000 479,207 DEPRECIATION At l April 2020 Charge loryear Eliminated on disposal 297,894 8,553 22,176 1,147 69,868 13,065 111,3941 4,2(Kl 1,8(K) 394,138 24,565 111,3941 At 31 March 2021 306,447 23.323 71,539 407,309 NET BOOK VALLIE At 31 March 2021 19,g23 7,991 40.984 3,000 71,898 At 31 March 2020 21,539 3,693 41,729 4,800 71.761 12. 2021 2020 Raw materials & finished good5 Water cooler stocks 29,868 32,335 30,373 32,960 62.203 63,333 13. DEBTORS,. AMOVNTS FALLING DLIE WITHIN ONE YEAR 2021 2020 Trdde debtors Other debtors VAT Prep3yrnents and a£crued Income 38,250 6.750 326 6.709 69,510 6,750 7,245 52,035 83,505 Page IB contlnued..
OSEL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 14. CREDITQR5: AMOUNT5 FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditor5 5oclal securlty and ather taxe5 VAT Other creditors ACcred expenses 19,679 7,237 19,374 9.612 357 4,796 6,498 3,733 32,709 40.637 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2021 Total funds 2020 Total funds Unrestricted funds Restricted funds Fixed assets Current assets Current IlabSlltie.s 71,898 451,838 132,7091 71.898 531.213 132,7091 71,761 539,974 140,6371 85,435 491.027 85,435 576,462 571,098 16. MOVEMENT IN FUND5 Net movetnent in funds Transfers betwee funds At 31.3.21 At 1.4.20 Unrestrlcted funds General fund ThealTe Fund CustDtner's New Kitchen Allottment Fund 513,262 2,989 322 290 139,-5791 13,891 14061 487.574 322 555 13751 640 516,863 139,9611 14,125 491,027 Restrlcted funds Working Towards WellbÈing As£San LfvlnB Well Way Ftsrard Kitchen Way Forward Minibus 43,476 1,471 9,288 31.638 15091 71 4,125 io.ocrf) 9.359 84,473 962 19,3591 14,1251 iio,oool 54.23S 45,325 114,1251 ,435 TOTAL FUNDS 571,098 5.364 576,462 Pase 19 continued...
05EL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 16. MOVEMENT IN FUNDS- corttinued Nel movement in funds, included in the above are as follows: Incoming resource5 Resource5 expended Movement in funds Unrestricted funds General fund The4trÈ Fund lottment Fund 628.037 1667,6161 171 17751 139.5791 13751 628,437 1668,3981 139,9611 Restricted funds Working Towards Wellbeivbg A5dan Living Well Way Forward Kltchen Workforce Cap8Clty Fund Way Forward Minibus 177,215 1145,S771 15091 19.4721 31.638 15091 71 4,125 9,543 4.125 4,886 10,000 14,8861 10,0 205.769 1160.4441 45,325 TOTAL FUNDS 834,206 1828,8421 5.364 Comparatives tor movoment In fvnds Net movement in funds At 31.3.20 At I.19 Unrestrf¢ted funds General fund Theatre Fund Customer'5 New Kltchen Allottment Fund 470.299 1,535 553 42,963 1,454 12311 290 513,262 2,989 322 290 472,387 44,476 516,863 Restrlcted fund5 Workin8 Towards Wellbein Asdan Living Well 4,695 1,471 5.210 38,781 43,476 1,471 9.288 4,078 11,376 42.859 54,235 TOTAL FUNDS 483.763 87,33S 571.098 Page 20 contlnuÈd...
OSEL ENTERPRISES UMITED NOTES TO THE FINANCIAL STATEMENTS- coni¥nuÈd FOR THE YEAR ENDED 31 MARCH 2021 16. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months tombined Thet mlivement in lufid5. included in the abovE are as follows.. Inctbmlng resource5 *l@sourc@s expended Movement in funds Unrestricted funds General fund Theatre Fulsd Customer's New Kltchen Allottment Fund 1,530,010 3,920 11,526,626) 12,4731 3,384 1.447 12311 2,200 12,2851 1,536,130 11,531,615] 4,515 Re5trlcted fund5 Working Towards Wellbeing Asdan Living Wel Way Forward Kitchen Workforce Capacity Fund Way Forward Minibus 347.270 1276,8511 15091 143,2901 70.419 15091 4,149 4,125 47,439 4,125 4.886 iO.LiOO 14.8861 10,OLK) 413,720 1325,5361 88,184 TOTAL FLINOS 1,949,850 11.857,1511 92,699 Deslonated Fursds The theatre fund is donations towards and income generated from produttions of varlous shows put on by Wèv Forward. Rostrltted Funds Working Toward5 Wellbeing is an employment servSce for people recoverln8 from mental health ¢ondltlons,' the 5eNice provides support for referrals to retain or gain employment. The Asd3n fund Ss both an award Scheme and accreditation network, providing educ3tlonal opportunities fof young people, helping learne develop their pÈrsonal 3nd soci81 skills throu8h its award programmÈs and guallfications. Llvlng WÈll Ss a erant funded prolect to provide 5UPPOrt adults with leamlng disabSllties In the Isle of Wight communltv. Way Forward Kitchen relates to a one-off resir4¢ted erant to fund the installation of a new kitchen at the Way Forward site. The Workforce Capacity Fund provided fundSng for a 12 month smartphone subscrlption and the Increase of staff ratios for the Way Forward programme, Page 22 continued...
OSEL ENTERPRISES LIMED NOTES TO THE FINANCIAL STATEMEKfs- contlnued FOR THE VEAA EhlDED 31 MARCH 2021 i& MOVEMENT IN FUNDS- contlnued Comparative net movement In funds, included in the above are as follows.. ncomln8 resources Resources expended Movement in funds Unre5trlcted funds General fund Theatre Fund Customer's New Kltchen Allottment Fund 901,973 3,920 1859.0101 12,4661 12311 11,5101 42,963 1,454 12311 290 1.800 7.693 1863,2171 44,476 Restrlcted funds Woiking Towards WellbclnB Llving Well 170,055 37,896 1131,2741 133,8181 38,781 4,078 207,951 1165,0921 42,859 TOTAL FLINDS 1,115,644 11.028.309) 87,335 A turrent year 12 months and prior year 12 months comblned position is as follows.. Net movement in fund5 Transfers betwee funds At 31.3.21 At 1.4.19 Unrestrl¢ted funds General lund Theatre Fund Customer's New Kitchen Allottment Fund 470,299 1,535 553 3,384 1,447 12311 1851 l3,891 14061 4È7,574 2.S76 322 555 640 472.387 4,515 14,12S 491.027 Restricted funds Working Tow3rds Wellbein8 Asdan Living Well Way Forward Kitchen Way Forward Minibus 4,695 1,471 5.210 70,419 15091 4,149 9.359 84,473 962 19,3S91 14,1251 iio,oool 10,000 11.376 88,184 114,1251 85,435 TOTAL FUNDS 483,763 92,699 576,462 Page 21 continued...
OSEL ENTERPRISES LIMITED NOTES TO THE FINANCIAL STATEMENTS- (ontlnued FOR THE YEAR ENDED 31 MARCH 2021 16. MOVEMENT IN FUNDS- continued Way Forward Minibus relatps to a ofie-off restrlcted grant to fund the purchase of a new minitrjus for the Way Forward programrDe. Tfansfer5 between funds The followin£ transfers have been made between funds durlng the year.. £4,125 and £10,000 have been transferred to thp 8enerdl fund from the Way Forward Kitchen fund and the Wav Forward Minibus fund respectively, representing the cost of assets purchased through the lunds, but whi£h are available for unrestritted use by the charity. £9,359 has been iiansfèrred from the Living Well fun¢J to the WorkinE Towards Wellbeing hjnd whlch represent5 the balance lèft on the Living Well fund at the end of the projert. A provislon wa5 included In the LIng Well funding for the redundancies of staff at the end of the project, however the charity has instead deded to re-deploy the staff member, using the LTving Well fund balance to fund thls. Other smaller transfers have bÈen made between the general fund and tho dÈslgrsated funds at the trustees, discretion. 17. OTHER FINANCIAL COMMITMENTS The tharStable company has commitments under non4ancellable operatlng leases for property of £107,275 and for p13nt and machinery of £1.571. RELATED PARTY DISCLOSURES There were no related party trdnsartlons forthe year ended 31 hAarch 2021. Page 23
OSEL FNTERPR15ES LIMITED DETAILEO STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDEO 31 MARCH 2021 2021 2020 INCOME AND ENDOWMENTS Donatlons and lega¢les Donations 5,457 10,814 Investment income Depo51t account interest 3,LK)6 2.563 Charitable athvltles Sales Support contr?cts CDG iFLcome Travel & expense5 reimbursed by client fjrants ACtiVLieS income Mi5cell3neous Income 188,812 272.101 22,307 9,120 205,321 88 400 296,206 552,162 18,143 18,342 207,828 4,023 5.563 698,149 1,102,267 Other income Job retention scheme incorne 12?,594 Total In¢omlnÉ resources 834.206 1,115,644 EXPENDITURE Charltable acllvltles stalf costs Social secur?tv Pension costs Rent Ratos & water Insur3nce Light & heat Telephone and computer costs Posts8e. stationery & rnarketin8 Wight Crystal c05t of sales Client expenses Staff training Carried forward S41,384 34,149 11,732 45,737 1,898 11,103 7,691 14,319 2,526 51.426 12,715 1,211 735,891 627.369 40,159 12,790 44.501 2.410 14,375 11,242 16,524 5,283 86,250 47.279 1,617 909,799 Thls page does not fomi part of the statutory financi31 statements Page 24
OSEL ENTERPRISES LIMITEO DETAILED STATEMENTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Charltgble artlvities Brought forward Establlshment expenses Repairs & renewals Bank & other financial charges Motor & travel 735,891 670 19.649 2,945 21,765 909,799 1,04B 19,802 4,094 33,946 E li 8ad debts & provlsion %vrltten back Legal & professional fee5 General adminlgtrat5on expenses 5tafF clothing Equlpment hlre Health, safety & welfare Allotment e%penses Donations to others DepTeciation of tangible flxed assets IProfltll105s oll sale c>f ta81le fixed a55et5 733 4,710 3,944 396 1.965 11.936 775 300 24,565 13,5001 1,087 7.262 5,842 820 1,965 8,977 1.510 26,875 746 826,744 1,023,773 Support wsts Governance costs AuditOf5' remuneration Audit015' remuneration for non audit work Accountancv Independent examlners 3,150 1,386 1,798 3 2,098 4,536 Total resDurces expended 828,842 1,028,309 Net income 5,364 87,335 Thi5 page does not form part of the statutory financial staternents Page 25