REGJSTERED COMPANY NUMBER.. 02225130 IEnglond and WalÉsl REGISTERED CHARITY NUMBEIt: 1007947 REPORTOFTHETRiisfEESAND FINANCIALATEMENTs FOR TEYEAR END 31 MARCH FOR OSELENTERPRtSF5 UmE0 Bright 6fown timited Chartered Accountants ststutDryAuditor Exchange House St Cr055 Lane Newport 151e of Wght P030 SBZ
OSELENTERPRISES LIMITED CONTENTS OF THE FINANCIAL5TATEMENTS FOR THE YEAR ENDED JI MARCH 2022 Page Report ¢f theTrust8e5 Report of the Ind2pendentAudltors 8 to io ststement of Fknanclal Acthpltles li 12 Balance Sheet Cash Flow Statement 13 Note5 to the Csh Flow 5tatem 14 Not¢s to the Flnèncial Statements DetalledStat8ment ol Flnan21al Actlvltle5 IS to 27 28 to 29
OSEL ENTERPRISES LlklfTED REPORTOFTHETRU5fEES FOR THE YEAR ENDED 31 hllARCH 2022 The irustees who are olso d¢reLtors of the charity for the purposes of the CompanSes Att 2006. present thelr report with the financial statements of the charlty for the wr ended 31 March 2022. The twstees have adopted the proWJsion5 of Accountin8 and Reportlrig by Chartties.. Statement of Recommended Prattice applKable to chariOe5 preparing their acwunts in attordance with the Fin8ntial Reportlng Stsndard applicable in the LIK and Republlc of Ireland IFRS 1021 leffectlve lJanuéry20191. OBJECYIVESAND AcfiMTIES ObiÈttbves and prinuple attivlty el EntpriseS Ltd is an inclusive, outstandlng supporL education and leaming service ba$ed on the Isle of Wight. E5tbbllshed to provlde work for peo w4th disablllties, Osel Enterprises contlnues to work with people encwragin ittdepeftdence and prornotin& COFnrnunlty woup5, offerlng DAN educatn, arranEing vglunteering and working wth local employers to offerpaid ernoYMent0Pportuitie Osel EnteTprlsps Ltd L8 managed by o Lwjard of Dlrectors who Iwe on thelsle of Wlght and are acrlvely involved the Ioc31 community. Public benefrt The 1rtsstees have paid due rrd to the guidonce from the Charity Commission regarding publ1¢ benefit and what attivities the charity 5houhl 4Jndertake wlthSn th(5. The charlty sÉÈks to Opete within the communrty. offerlThg empSoympJ)t. edwatlon 8nd person-cenir& support to people with a learnlng di$4bility or people recoverfng from mental health Iwes. srRATEGICREPORT Achievement and perfomiarbCÈ Manager's RepDrt l am proud to say that Osel Enterprises Ltd. in the last year is looklTrg forward and it h35 coritlnued to offer outstèndlng seroicÈs dwing a thallenginE trading periad. Our eth0515 tri Inspire people with dTrsabTrlltles and referra15 re¢overlng frgm tnent41 health tssues to play a full part in their local communlty arKI to ensure that the support &nd prodCts vje provide tInUeS te meet custorner/funding re9uirements by listeniftg to them ènd acting upon their feedback. Way Forward tsffeT5 one of the best Leaming Dtsabllity Day ontres on the Island; offering pers0n-centd 511PPOrt ther in the centre or ITh the communlty that encourages progresson, independence and Positive outcomes. We are beginning to se2 a lot of new custarner5 trylr¥g outiaster at Way Forwafd Ènd Stiryg customers returning after Dckdown perfod. Working Towards WellbeinE ConneS to expènd ts 5eNces due ta excellent job retsntlonlemplwnent resujts, phone meetln£s are still popu13r and we ore offerlng fa¢È tc face meetings in community 5ettln85. Due to the relian on the NHS arid the DWP fvnding, Working Tovjards WellbEing is applyin8 for other funtling 50Ufces to help secure its future. kn *)Woyer's Set(e wll be created to offer employers return to work emplment atfvice and support. Page I
OSEL ENTERPRISES UMITED PEPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 MARCH 2012 Wl8ht Crystsl has conbnually chènged its product offer tts reflert the changed public ottvde towards sln8le use plastiC5. aur customers are offered a selecbon of rècycled. recyclable, ideradale and ¢omp05table products but we rem8ln alert to chinglng COuMer trends. Lowerlng costs by working more efficlently and not replaclnB staff has helped WIEht Crystal fvlfil Its order5 on time and In full. We welromed the return of planned regular ewersts and w111 plan Increased stoth holdlng levels for a busier, kntter Summer. Wlght Cwtal has ordered a new glass bottllng machlne and will plan Installation durfng the winter rnoF¥ths o1202Z Th15 machine VAII &ve Wl8hi Crystal a much-needed boost In ttjrnover and the new product wlll attrart a new premlurn custameT. Osel ha5 Stab1115ed its seNiw and is plannln8 3 Ilst of repalr and renewal lob5 that were put on hold due to the pandemie. The turnover and profit wlll ETOW to allow the charlty to invest and to help Secure Its future. the long-term aiFll Isto ovm propertv. Trarey Mlll- Chlef Executlve Offlcer. Osel Enlerprl$¢s Ltd pagÈ 2
OSEL ENTERPRISES LIMITED REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT Athievemertt and perfomian Flnan(ial results Again, the chartty enjoyed a suc$$fUl but Inevitably thallÈrigipg year, with new cu5tomw5 and referrals joinSng Wav Fonvard. Wi¥ht Crystal and Woting Towards Wellbeing. New fundlng (ipportunities encouraged the mental health seNlce to expalld, tdthone rvSces were introduced where face to face apwntments were Imposslble. The ¢harity enjoys an env+8lAe reputation for deliverin8 quallty support. alway5 exceeding the expettation of Its sefvTce users. Puttint money back into our services and the continual development of our stsff, desplte the hallenges of CoWid lockdowns ènd the t5ghtening of local budgets, Osel ha5 continued to operate safely.QJrrendy we employ 37 peopk and have utilised the govemmentsfundinB schemes wherever p035ible. We have an exceSlenL stsble workfeTc< valving our people creates opwrtunities for development. which In turn helps sectjre lone 5eNice. Recognising ourtèlented team member5 has helped 5takili5e all thFee enterprises and produtes ovtstsndlng results. Osel Enterprlses Ltd Is determ5ned to Cortinualty improve its 5eniice5, produtts, and internal wtsrkire practlces. We Strive to stay ghe3d of the competltl¢n aftd to be an efficient frd-thInkin& charlty thBt Stands out from all other social enterprise5 on the Iskifftd. We exwt ttie coming months and full year to be challenging because of the oftermath of Covid and thè inevitsble tQhtenlng of lot81 anLI natlgnal funding for peuple th Le8rniDg Disab"litles IreaSed funding for Mentsl Health Services 15 expected due to the addltional people wlth mentsl111 hea due to the p8ndetnic. Osel uses a number of keyperfarrnance indlcators in orderto measure performance which aresetout below: Net surplus has IncrSed to a hethY 6.06% th15 year compared to 0.64% in the pryOU5 year. This ieflects the fact that inc(Yne has seen a recovery a5 there was less d15ruption to attDiities caused by COVID-19 pandemic StrictIOnS this year compared to the previous year. 14et 5uipIv5 has not yet recovered to pr&pandemic 2020 levels 17.83%1, h(Mer kwth èll COVlD-ts r25trirtions nr>w liftfjd ènd all actiltieS resumln& thls is expetted to mprOVe for the 202212023 flnancial year. Theyear-end raw materlal and finlsh stock b31antea5 a percentsge of revenue hasdropped notablyto 9.41% thlsyear tompaTed to 14.71% the previous year. Year-erKI watprcooler stock a$ 8 % of revenue also dropped to 6.67% Ihi5 year mpared to 15.92% rm the prevlotss year. Stock levels were hlgh Sn the previou5 year due to the disruptiot) in trading athvity caused by the COVID-19 pandemlc mejnlng that eXcS stock built up. 61tren the costs associated th holdln8 exSS Stock, thls a promislng t¢end. Indeed, thesÈ percentages weTe 9.74% for raw materièl and fiDished stock 8nd ID.57% for water Cooler stock In the 2019n02Q finafttial year and so Improvefflents have ben mode coMPad to pre-pandemic level5. Only two employees resigned durlng the year with reSIgnatn$ as a % of total staff dropplng to 5.41% this yeor comp8red to 8.82% in the Prev>5 year. This is a positive trend and historicallylow when ¢orDpafed to prevlous yeBrs. Three employees left for other reasons whth as a g< Of totil 5tth was 8.11% whith is agaln a rÈduLtion compared to 8.82% in the prevlous year. 5 stsff that left during the r were from Way ForwJrd whith historlcally has the highest level of staff tumokEr. This is rn0st due to the number of staff employed In thls area being an short term eontracts. Page3
OSEL ENTERPRISES LIMITED REPORT OFTHETRLISTEES FOR THE YEAR ENDED 31 MAR¢Tri 2032 STRATEGIC REPORT Financlal revlew ReseeS policy The trustees consSder that the unr&tricted funds. whlth are the free reservts of the charlty, should be mèmtalned at a level whlch equates to approximotely four months expenditure. The current level of unre5tri¢ted reserves are E526,069 and are £402,322 after excluding fixed a55et5 and desi8na*ed funds which means the charfty Is In Ilne th the pollcy and the trustees continue t¢ monitor the funds leve15 to ensure thls Is makntalned. Total income for the year wos £1,063,138 Includlng £833,986 from unrestrlcted aCVleS and £229.152 from Testricted artlvltle5. Tatal expendlture In the year was £998,694 includin8 £811,774 from unrestrlctÈd actlvlties and £186,920 frDm Festrlcted attlvltle& This resukted in a tDtaS operating surplu5 of £64,444 consistin8 of a deficit of £22,212 in respect of unrestri¢t¢d octivlties and & surplus £42,232 in respectof restrlcted activffles. ChaMen8es A conttant ch8ngin8 erir0me ks makin8 everyday Ilfe at Osel Enterprises Ltd harder for stèff, customefs and ferral5. Plew ways of workln6, thlnking outside of the bDX and coplng wlth exhJusting and emotloTral shift patterns is an essèntlal thlll that h35 helped us survive durlng an unstabletradlng period. We have expertenced a tl8htenln8 trf social seNlces budget5 for new and ex15tln8 Way Fotward customer5 and we offered more crisis SUPPOrt due to thÈ pressure5 of re5ident181 home5 reduclng thelr respite offer or doslng thelr door5. We work c105ely with the 151¢ ol WL¥ht Councll learning dlsabllity tÈam, and clt5toers famIl/Carer5 to try tD prevent crlsis but due to the current envlronment cr151515 Inrtable. Way Forward Is back to norrnal Ipre-covldl attendance figure5 and are ottracting new Customer5. Working Tovjards Wellbelng Is busy with refeTrJls but the NH5 are stru8llng to recruit tal health theraplsts, this wlll impa¢t the Servi during 2022-2023. Wl8ht Crystal wèter15 Slowly returnlng to pre-covld figu5 and are hoping for a hot summei to boost sales. Wlght Crystsl 5tlll operate a next day weekLlèy servke and have mana8Ed to retaln good stock levelsto maximlse demand. The Mental Heath EmF4oyment Servke has Increa51ng referral numbers and we have received Increased lunding from the CCG and the OWP for2020121. Pa8e4
OSEL ENfERPRISES LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 WRCH 2022 STR4TEGIC REPORT Futsre plans WayFovward Way Forward continues to grow and Is planning the return of day and res¢dentlal trip5 durfng 2022 & 2023. Funding successes has CrrtInUed to support the enterprise a5 the IOW Council budget constraints ale bwnnlng to have an impacl on thes¢rvic& Way Forward support prites increased in April 2D21 will Increase again in Aprll 2022 due to the mlnlmum wage incwse5. The lot81 authority only revrew service provSder rates when the customer has a care review. in caft take up to a yearto start co¢lectin8thtincreased late> The need to lower overhead costs is being Investigated and the a¢¢ounts adminlstratioTh team are using new tschniqvesto reduce invoiceproce55ingtlme andto Improve occuracy. Wightcr Wleht Crystal had a hard tymp recoweiin8 from the Pèndemi¢ we ère foojssing on knjilding good stocks ready for busy summer perfod. Components avallability, prite increa5e5 and a delèy Tr getting the new bottling machlne ha5 been Challenging bLrt we afe determined to 8rowthis enterwiseto helpsupporttsur othervitsl servkes. WorkingTowards Wellbelng WorklngTow8rd5 Wellbeing continues to recekn a hgh number of relery¥lsfiorn the NH& Weare hopingto expand our servic& by offertng an Emplo service, this wlll make the servlce less de4Jendent on the NHS and the DWP for funding. The board would Ilketo pla on record its thanks to all Its exceIlÈnt staff but with partlcular praise going to our Chief Executive Officer. T¥2cey Hill. As in prevlous year5, Tracey has risen to the extraordlnary ch8llefige5 faced in these difficult tlme5 ènd remalnsthe drivlngforce behind our ongoing 5UCCE55. Oavid Holmes- Cholrman $rRuuft4 GOVERNANCÉAND MANAGEMENT Go¥emin8 document The charlty Is controljed by its governing d¢J¢umen¢ a deed of trusL and CStitUteS a Ilm5ted company. Ilmthd by 8ii•rnnte4 as defined bythe CompanlesArt2W6. Trustee5. organisatlon afid management The busne$S of the tharitsble company 45 managed by the boaro of trustees,. the number oltrustees is not subjectlo rnaximum_ The trustees hold adhoc meetings but the Chairman In partlwlar also has con5tsnt weekty cantact with the chief exetutlve officer. PfDsPPCtVe dlrectorsltrustees are initially approathed by a member of the board, pritrr to such nomination bein proposed at a tsoard rneetifigj and strt¥ect to such prop1 re¢dving the support of the board. the proposed new trustee is then invrted to loln the board and folltswine hls/hÈ¥ acceffjante is lully brlefed as to charity matteTS it's aims 3nd Oblectiv at the first board moetyng which helshe attends. There are no formal policies or procedures for tht inductlan and training of trustee5. The arranKemer4ts and setting of pay levds of key rnanagement personnel are dealt with in trustee meetlngs from time to titThe and a number of faEtor5 are used to make the dEci5ion such as tharty performance. Èmployee performance 8nd genETal econonThc factors at the tlme of the rewew. The ovÈr811 performance of the tharity and how tt achieves its d)aritable objectives is the ktsual benthmark of thÈ review and therefore major factor ol the pay d15W5510nS 15the finanaal a1 non-financial outcors. achleved or not. dtJdnE the relevant k*riOd. Page 5
OSEL ENfERPRISES LIMITED PEPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 REFÉRENCf AND ADMINISTRATIVE DAlL$ Re¥tered Corwnynumber D2225130 IEr8land and Walesl Re•stered Ch41itynumber 1007947 R4lsterod offi¢e 7 D4ish Way Dodnor Indu5trlal Estate NevJport Isle of Wlght P030 5XJ TfUStee5 C P Boswell D L Holmes CA Dennett Auditors Brlght BrovJn Llmlted Chartered AccDuntants Statutory Audltoi Exchange House St. Cross La Newport Isle olwlght P030 5BZ Bankèrs HSBC 1015t james street Newport le of Wight P030 IHX SollcltOTS drldges Avenue House Avenue Road Freshivater le of Wl8ht P040 9UZ Pège 6
OSEL ENTERPRISES UMrrEO REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 srATEMEMf OF TRUSTEES. REsPS141lInES Thetrustees (who are a150 the directors of Osel Ertexpri5es Umited for the purposes of cLwany13wI ore responsible for prep3ring the Report of the Tiustees and the financial statements in accordance wlth 8P1£0b1e law and United Kingdom Accounting Standards Iunlted ngdoM 6enerally Accepted Attountln8 Practice). Company law requires the i¥ustee5 to prepare financ181 staternents for earh financlal wr which give a irue and faor tew of the state of affalrs of he charitable company and of the incomine resources and application of resource5. In¢luding the income and expenr1ltu, of the charltsble company for that period. In prepèrlng those fSn3naal ststemknts, the trustees a reoulred to.. SelErt5Lifcable accountlng policies andthen èpply them consistentlv Observethe methods and principles In the Charlty 50RP Makeludgements and estimates thèt are 0S0ableand prudent Pfeparethe fifiaTrcial statements onihe going concern bas5 unl$ it is apProprIatet0 presumeth the charitable company11 contlnue In business Ihe trustees are responsible for keepifig proper accounting records which dlsclose knAth reasonable accuracy at any time the financial w5ition of the charitable Eompany and to enable them to ensure that the financisl ststements with the Companies Att 2W6. They are also re5POn51ble forsafewardingthe assets of the charltab¢e company and hencefortskiw reasonable stspsforthe prevention anddetection of fraud bnd other irregularrfies. In so far 05 each of the per50nswho wa5 a tIU5teeat thed8te of appro8 this rewrt is aware: There is no relevant audlt information of whlch the ¢haritsble CDmpèny's audtor5 are unaware.- Ind The TTUStees hève tsken all steps they OUEhtto have tskenta make themselves awèreof any levant audit Information and establlsh thatthe aLfjdltors are aware of thatlThformatlon. TheTnstees are re5ponsik42forthe malntenance and ifiteiiity of the corporate and financial Inform8tioM intluded on the charitable company's vJebsite. LegIstion in the United Kingdom governinE the pparatI¢ and thssemlnation of flnancial statements may d+fferfrom IslatIOn in other jurisdictions. AUOJTORS The aud5tors. Bright 8rown MIted, will be proposed for re-èppointment at the forthcoming Annual Gener81 Meeting. Report of the trustees. incorporatillg a 5tratesic TEPOrt, approved by order of the tr0rd trf trust*. as the companv dlrpLtors, on.... Ind signed on the board's behalf by- D L Holmes- Trustee Pa8e 7
REPORTOFTHE INDEPENDENT AUDSTORS TO THE MEMBERS OF OSEL ENTERPRISES LIMITED aualiHed oplnlon Wo h8ve audlted thÈ fin4nclal ststements of OSEL Entefpfi5es Limited (the 'charitsble comyany'l foi the year ended 31 M3rth 2022 which MPriSe the Statement of Flnènclal Activltiès, the Baltnce Sheet, the Cash Flow statement ond note5 to the financial statements, includlng ) summary of slgnlficant a£countTrng policies. The financlal repofting ftamewttk that ha5 been awlled in their weparation k5 applicable law and United KlnBd¢)m Accoundng stsndards Iunlted Kingdorn Generally Accepted Accounting Practice). We have audited the financlal st3tements of OSFL Enierprtses Llmlted (the 'chJritable company'l for the yeèr ended 31 Mèrch 2022 which comprise the Statement Df Flnancial Actlvlties. the 8alaDce theet, the C65h Flowstatement and notes to the financial 5tatement5, Including a summ8ry Df $18nificant accounting pOeS. The finèncial reportln8 Irdrnework that has been opplied in thdr preparation Is appllcable Sèw and Unlted Klngdom Accountlng standards Iunlted Klngdom Generally Accepted Accountln8 PraCe). In our Dplnlon, except foi the efferts of the matteT dEqcrlbed In the BasLs for ouallfled oplnlon secttort, the financial 5tatement5'. glve a true and falr vlew of the State of the ¢harltabie company's èffaSrs as at 31 March 2022 and of its Incomlng resource5 and appllcatiofl of resourc, Including its Incorne End eXpendvre10fthe yearthen ended,. have been properly prepared In acEordance with Unlted Kln8doTri GereTallYAcpted Accounting Practice.. and have been prepaTed in accordance with the requirements of the Cornponles Act 2006. We conducted our audit In accordance with Internaoal Standards on AudltfjnK IUKI IISAs IUKII and applicable law. Our responslblllties under those standards are further described In the Audthrfs respon5ibllltles for the audit of the flnancial statements sectlon of our report. We are independent of the tharlty In atcurdan¢e vrfth the ethical requlremeDtsthat are rElevant to our audit of the finènclal statements in the UK, Includln8 the FRCs Ethical Stsndard. and we have fulfilled our other ethical responslbllltles In accordance wSth these requirements. We believe that the Judlt evidente we have obtalned Is sufficient ènd approprlate to provlde a basls for our qualified aplnlon. 51s for qua14fled orAnlon The accounts to 31 Maich 2021 were Dpt audlted, and we dld not attend the stocktake for the 2021 year end. Therefore, WÈ have been unaide to obtain sufflclent ewidence of exISten or completeness of stock, valued at £62.203 held at the start of the year. Condu$lons rel3tlng to golng oncem In audltlngthe flnancial statements, WÈ have contluded that the tru5tees' use of the 8oln8 concem b8Si5 of o¢¢ounting In the preparatyon of the flnanual statements is appYopFiate. Based on the work we have performed, we have not Identilied any materièl uncertalnties relatn8 to events or conditlons that, indlvldu31ty or tollectively, cast slgnifirant doubl on the chkritHble company's ablllty to cantlnue as a golnB concern fora peric*Y of 8t least twelve months from when thefinancial statements are authorlsed forlssue. Our Tesporlslbilities 8nd the responslbllities of the trustees with respect to going Con 4Te described in the relevant sect10115 of thlsreporL Pa8
REPORTOFTHE INDEPEr4DE AUDITORS TO THE MEMBER5 OF OSEL ENfERPWSES LIMITED The trustees are responslble forthÈ other inforniation. The other information ComprSe$ the irrforrrtiofft included In the Annual Report, otherlhanthefinan¢Tril ststerrents and our Report af the IndependentAudltors thereon. (Iir opinion an the financial ststements does not £over the other information afid. except to ihe extent otherwise explicmy ststed in our rwrt, we do notexpress any form of 8$5ufdn£e conclusion thÈreon. In connertion Kwth our audit of the finavcial statements, our responsilIty 1$ to read the other inform#tion aThd, in doing 50, consjder thether the Dther infoTmation is matorially incoDsi5tent with the fiTranclal statements or our knOedge obtsined in the audit pr otherwlse appears to be rnaterl0l mi55tated. If we identlfy such tnaterial in¢onsistencles of apparent Materal mlsstatements. we are requlred to determine whethÈr thls Èwes rise to a materlal misstatement in the ftnancial statementsthemselves. )f. based on the work we have performed. we conclude thètthere Is a material mlsstatement of thi5 Other informatlon, we are re4uired to reportthatfact. We h3ve nothing to report in this regard. OplThlons on other matters pre¥ribed bythe ConyaniesArf 2(IJ6 In our opinion, based on the work Undertaken In the course of ihe audit- the inlormatlon given in the Report of the Tntstee5 for the financial year for whlch the financi8l5tatents are prepared is consistent withthÈfinancièl staternents,. and the Rep¢)rt af the Trustees has been prepared in aCcordanceth applirAible legal wUlMets. q¥tter5 on which we are requlred to report byweptio In the light of the thovAedee and understandin6 of the ¢haritsble company and its enrOnMe1 obtained in the course of thÈ autht, we have not identthed matrrial misstètem&)ts inthe Report of the Trustees. Other MattÈrs No oudit was requlred orcarrfed otrtforthe yearto 31 Marth 2021 and so the ¢orrespondlng figures0 unaudited. Respon5ikxlitles of trustees As explained rrK>re fully in the Ststement of Tw5tees' Resp0nslblles, the trustees Iwho a also the directors of the charitabe ¢omp3ryy for the purposes of company18wI are responslblo for the preparatlon of thE finhncial ststement5 and for beifig tIsfied that they Bive a true aThd fair view. and for such internal oN)trol 05 the trustees determlne is ne¢essaryto enable the preparntian of fiTrantièl statements that arefree from material misstatemenL whether i*Jeto fraud or error. In preparing th2 financial 5totements, the trustees 8re responsbIe for assessing the charitable companvs ablllty to cont)nue 8$ a gaing concern. disclosinL as èpplicBble, rn4tters rd3tsd to goine concern and usln8 the going concem basis of accounting unless the trustees either intend to liquldate the charitsble company or to se operatlons. or have nD reallstic alterTrative bt0 do so. Page g
REPORT OFTHE INDEPENDENT AUL)ITORSTO THE MEMBERS OF OSEI ENTERPA15ES LIMITED Our respoD$ibllltles for the audlt ol thefinan¢lal statements r objective5 are to obtain reason3ble assurance Bbout whether the flnancial statements a5 a whole are frEe from mater4è1 mi55tètement, Ipjhether due tofraud Drerror, and to Issue a Report of the lrtdependent Auditors that include5 oui oplnlon. Reasonable a5suranc2 is a high level of assurance, but 15 not a guarantee that hn audr( conducted In accordance with 15As IUKI will alw3y5 detect a material Fnlsstètement whÈn It e5t%. M159tatements ean arlse fro fraud or errer and are cansidered materiil f, Indlvidually or in the agEre8ate, they could re050nably be expected to lrfuence the economic decisions of u5erslaken on the ba515 ef thÈse financlal 5tsternent5. IrregUlare5, Includln8 frdvd, are Instances of non-compllance with laws ènd latIOns. We deslgn pro¢edures in IlThe wlth our respon5ibllltles, outllned above, to detect moterlal m155tèteN*nts In respect of Irregularities, includlng fraud. The extentto whith our pracedure5 are Pable of detectlng Irregkslarltles, IncludlnE fraud is detailed below.. Based on our understanding of the charitable company, the prI1paI risks are that of managemÈnt override of controls. potentlal fraud In revenue recognitbn, potential dlverslon of Cash irKome. The en8asementteam consldertd these r15ks and •udit procedvre5were undertaken asfollows.. DIscu5sionswlth managernent regardlngthe abllltyto ovÈrrtde controls and mlew of proces5e$ Sn place to Eonfirm no override bad occurred. Eytension of sample si2es relating to revenue recognition. The auditteam MaIned aware of the $sibIlIty0f the diverslon of cash Income during the course of the audit. There are inherent limitaon5 Sn the audit procedures described obove, and the further removed non.comrAiance wth laws and regulatlons Is from thÈ events and transattigns reflected In the flnancial statements. the less Ilkely we are to become aware of It. The rlsk of not detectlnB a rnaterial mlsstatement due to fraud Is hlgher than the rlsk of not detectln8 one re5ultln8 from errtsr a5 fraud may involve dellberate concealment or IntentlonBI mlsrepre5entstlons. A further descrfptSon of our responslbllitles fof the audit of ihe fin8ndJl 5tatemen15 Is located on the Finantial Reportlng Councll's website at ww.frc,org.uklaudltorsTESponsibilltle5. Thls de5C¥iPllon form5 part of our Report of the IndependentAudltor5. Use of our report Th15 report 15 made solely to the charttable company'5 members, as a body, In accordante wtth Chapter 3 of Part 16 of the Companles Act 2006. Our 8udit work has been undertaken so that we ml8ht state to the charitable compony's member5 those matters we are requirÈd to state to them in an auditors, report Bnd for no other purpose. To the fullest extent permitted by law, we do not accept or èssume respdnslblllty to anYe other than the charltat4e company and the charltsble company's members a5 a body, for our audit work, for th15 report, tyr for the opinions we have formEd. Davld Steven5 A.C.A. Isenlor Statutory Aud4torl fgr and on behaof Brlght Brown Umited Chartered Atttsuntants statutory Audltor Exchèn¢e HDuse St. Cross Lane Newport 151e of WIEht P030 SBZ Date.. Page 10
OSEL ENTERPRISES LIMITED srATEMENTOF FINANCIALAcfJviTIES (INCORPORATING AN INCOME AND EXPÉNDifuRE ACCOUNTI FOR THEVEAR ENDED 31 MARCH Z022 2022 lotal funds 2021 Total fund5 Unre5triLted fund5 Restrlcted funds Notes INCOMEAND ENOt)WMENTS FRQM Donakn0Tr5 and legac sos 959 SA57 tharitable aCtIe$ W?ghtCrystsl Way Forward WorkingTowèrd5Wellbelng tlvlng Well 286.770 516,745 2,515 286.770 516,745 231.162 203,058 308,781 176.867 9,443 228.647 Intment income Other Income 104È 17,454 3Arf)6 127,594 17.454 Total 833.986 229,152 1,063,138 834.2fAS EXPENDITURE ON Charitable 3rtwttles Wight Crystal Way Forward WorklngTowaTdsWellbelng W&1 285,299 526,083 203 189 285.299 526,083 187.123 189 235,•]47 438,346 145,577 9.472 186.920 811774 186,920 998.694 828.842 NeTINCOPthlE 22,212 42.232 5.364 Tnnsfers betweert funds 17 12.830 1120301 Net movemeht in fund5 35.042 29,402 5.364 RECONaLIATION OF FUNDS Totalfunds brou8htf(*ward 49L027 85.435 576,462 57L098 TOTAL FUNDS CARRIED FORWARD 526.069 114,837 640,906 576A62 The notss fom part of these financlal Statements Page 11
OSEL ENTERPRISES LIMITED BALANCE SHEeT JI MARCH 2022 2022 2021 Note5 FIXED ASSETS T8n8ible assets 12 67,915 71.898 CURRENT ASSETS Stocks Debtor5 C•sh at bank in hand 62,203 52,035 4?.3,035 13 14 46,110 106.658 465,251 618,019 537,273 CREDITOR5 Amounts falling due wlthin one year Is 145,0281 132.7091 NET CURRENT ASS 572,991 504,564 TOTAL ASSETS LESS CUARENTLIABILITIES 640,906 576,462 NET A55ET5 640,906 576,462 FUNDS Unre5trlcted funds Restricted fund5 17 526,069 114,837 491,027 85,435 TOTAL FLINDS 640,5 576,462 The finartc181 stotements were approved by the Board of Trustees and 3Uthorl$ed for issue on . and were si8ned on its behalf by.. D L Holme5-Trustee ThE notes lomi part of these ftnanclal statements Page 12
OSEL ENTERPRISES UMtTÉD CASH FLOW STATEMENT FOR TrIE YEAR ENDED 31 MARCH 2Q2 2022 2021 Notes Cash flowsfrom OPEratihg acdvltl Cash genÈratpd from operations 62,421 48,095 Net cash prOdett byeperatlng 8rtTvltle5 62A21 48.095 Cash flows from investlthg artivltles Purchase of tsn8iblefixed assets Sale of tsngibrefXed 055ets Interest recVed 123,9531 1,700 124.7021 3.500 3,006 Netcash used In )vesting actNltles 120,2051 18.1961 Change In ¢8sh and£ash equlvalerrtsin the reporting perlod Cash and eqUi¥eNts èt the beglnnln8 f the reportlng period 42216 29A99 423,035 393.136 Cosh pthd cash eguivthntsatthe end of the reportln4 peiiod 465.251 423,035 The notes form gfthesefinanelal 5tatsryrts Page 13
05EL ENTERPRISES LIMITED NOTÉS TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 RECONCIUATION OF NET INCOMÉ TO NET CASH FLOW FROM OPERATING AcnviTIES 2022 2021 Net IncDme for the repor1 perlod18S pertho Staltment of Fln8nd•l ActNitle51 Adlu5tmentslat'. Depreclation charges Profit on d15posal of flxed assets Interest retelved Decrease In stocks Ilncrea52lldÈ£re35e in debtors Increaselldecre•sel in credltors 64.444 27,936 11,7001 12,0481 16,093 154,6231 12.319 24,565 13,5001 13,0061 1,130 31,470 17,9281 Net provldtd byoperatlons 62,421 48,095 ANALY515 OF CHANfjES IN NET FUNDS At 1.4.21 Cash flow At 31.122 Net cash Cash at rtk and In hand 423,035 42.216 465,251 423,035 42,216 465,251 Tota 423,035 42.216 465,251 The noteslorm partof these linantlal statements P88e 14
OSEL ENTERPRISES LIMITED NOTESTO THE FINANCIAL5TATEMENTS FOR THE YEAR ENF)ED 31 MARCH 2022 AccoupifiNG POLICIES Basis of proparlnÈthÈfiThancial statements The flnanoal statements of the charitable company. which Is a publi¢ benefft enttty under FRS 102, have been prepared Irs accordance wth the Charities 50RP IFRS 1021 Accounting and Reporting by Ch3ritie5- Statement of Recornmersded Practicp applicable to charities preparSng their accounts in atcordano with the Flnandal Reportlngstandard apIcable In the UK and Rewblic ol Ireland IFRS 1021 leffettive l January 20191,, Hnanclal Reportingstanthrd 102'The Fsnancial Reporting Stjndard applicoble in the UK afid ReblIC of Ireland. Jnd the Companie5 Act 2006. The fln8ntial statements hève been prepared underthe bi5torical costconvwtion. The chaThable company $ reg15tered In England #nd Wales and rs limited by guarantee. The financial statements are presented in Sterlingp which is the functlonal currency of the Chor8b1e cijmpany. There are no m3terlal uncervdinties about the Charity's èbllity to cantinue. The charty nSti7uteS a pthlic benefit enfity as defined by FRS 102. Income Voluntary Inc(wne Donation5 are recognised in the statement IJF Financlal ActiMtAes once the charftable eompanyhas endtlement to the fund5, It is probèble th8t the iftcome wlll be received and the amount (an be measured relioblyi Ihi5 Ls generally upon rept of the donation. Invesknent lrt¢omé Interest ieceivable 1$ recognised overthe perio¢l it $ ac¢fued except where therÈ are Cond105 irnposed that must be met before Interest is Cleve0. Where thls ts the case the income 15 fecogni5ed On the coftdtfiDns have been met. Charltable Adivitbe5 Income from trading actlvlties is retognised, net ol VAT and all other sales tsxes when the iood5 ère delwered or servi5 ale provided. Grants are re41$ed when unconditlonal eTheMent to the Income Is passed to the charitable cornpany. Where there are performance relat terms and ¢oNlitions that tnust be met before unconditional entitlement pa5se5 to the charltsble company, the Income is recoBnlsed On it ¢s highly probable that these will be met. Where no suth condltkins exiathe inrotne15 recfjgnised when It is reIed. EXPÈnd[t1 LTrabilities are recognlsed as expenditure as soon as there Is a legal or constrnttlve obllgation tommlttln8 the tharlty to th8t expenditu It ts prob8ble that a transfer af econarriic b2nefit5 wlll be reguired in settlement and the amount of the obligation ean be rISured rellably. ExpenditL¢re is accounted foi on an atcru3ls basls and has been classthed under headings that a6gre8ate all ctsst related to the category. Where costs connot be directly attributed to partioJlar headings they have been allocated to adivIeS on a b8%5 constsient vAth the use of resour¢e& Allocatlon and apportlonmentof costs The only Costs not already direttty attributed to an act1 aregovwnènce costs.These have been apportioned evenl¥between the nonffjestricted activitfjes ofthe charlty. Tangible fixed assets DeprÈciation is prcjvided at the followin8 annual rates sn ordertr) thrlts off each asset o¥wTts eStiMed useful Plantènd machlnery FIre& and ffttlngs -Straight Ilne over4 or5 years . Straight Ilne over4 or5 yeois Page 15 continued...
OSEL ENTERPRISES IIMITED NOTESTOTHE FINANCIALSTATEMENTS- continued FOR YHE YEAA ENDET) 31 MARCH 2022 ACCOUNTIP46 POLICIE5- continued Tanglbleflxed a$sets Motor vehicles Reclpes - Str8ight Ilne over4or 5 years 5tr3i8ht line over 5 year5 siotks stocks are valued at the lower of cost at)d net Teèh'sablE value, after maklng due allowance lor obsolete and slow movini ltsm5. The valve of finlshed ioods Is calculated by u5in8 hour labour rates dlvided by numbef of produtts In 8 sel us thev8lue of faw m3teria15. Ovefheads of productK)n are not factored into the Valuaon formulèe. Taxotl The chailty Is pxemptfrom corw*ioD tax on its d)èfltable actItIes. Fnd arcoLmtkng narItted funds can be used In accofdance th the charltable objecti¥E5 Ot the dlscretlon ofthe tIUStee5. Restrlcted funds can only be used for partKular re5trlcted purposes wlthlll the objects ol the charlty. Re5trirtions arise when specified by the donor orwhen fvnds are raised for particulbr restricted purposes. Further explanatlon of the nzture and purpose of each fund Ss included In the notes to the financial statements. Penslon cost5 and other p05ty1eremen ben¢ftts The chafltable company operotes a defined contrlbutlori pens scheme. ContrSbutlon5 payable to the charltable company's penslon scheme are chayged to the StatÈment of Financlal Attivltles In the perlod to whlch ihey relate. DONAThONS AND LEGACIES 2022 2021 Donatbons 8,959 5,457 INVESTMENT INCOME 2022 2021 DepO5t account Interest 2,048 Page 16 tonlnijed...
OSEL ENTERPRISES UMrrED NOTES TOTHE FINANCIALSTATEMENTS. contlnued FOR THEYEAR ENDED 31 MARCH 2022 INCOME FROM CHARITABLEACnWTIES 2022 2021 Actiwty Wight Crystal Wight Cry5ta5 Wight Crystal Way Forward Wty ForwaTd Wty Fo8rd Sales COG income Grant5 Sèles Support contracts CDG Income Travel & expenses reimbursed by cknÈnt fjrants Actiwties lTr¢ome Miscellaneous income Grants Gfants 271,151 15,604 15 3,556 466.956 7,202 185.975 17,083 2,837 272.101 5,224 Way Forwèrd Way Forward Way Forward Way Forward Workin£Towards Wdlbeing LITrg Well 20,625 9,J20 19,011 88 40D 176,867 2.507 231,162 698,149 Grants reIved, itt¢luded in the above, are asfollows- 2021 IOW NHS CCG IWorkin8towards wellbeinEI Age Concern IW ILiwn¥ WEIII NHS IOW EA IIAPTSchemel NHS IOW Data Collect Isle of Wight Council 151and R(kds Infection control grant SSP covid rebate FarlSuppOrt5ethc¢ 112.584 IIIS83 9.443 73.284 19,0001 14886 4,125 88,847 12.164 896 17,553 247,044 205.321 P3ge 17 continued...
OSEI ENTERPRISES LIMITED NOTESTO THE FINANCIALSTATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ¢+tARITABIE ACTIVfflES co>rs Dlred Costs (see note 61 Support ¢ost5 (see note 71 Totals Wight Crystal Way Forward Workin8 Towdros Wellbelng Livlng Well 283,504 520,719 184,786 182 1,795 5,364 2,337 2BS,299 526.083 187.123 189 9,503 998,694 DIRECT COSTS OF cHARA9LEACVIylES 2022 2021 stsff cost5 Rent Rates & watsr Insurante 8ht & heat Telephone and £¢)mputer costs Postage, ststM)nery & marketlnB Advertlsing Sundries Wight Crystal ¢ost of sales Cllent expenses Staff training F.stablishment expenses RÈpalrs & renewals Bank ðerfina#cial charges Motor &tr8vel 8ad debts & prOls1On wrltten bock leg81 & professlonal fees Ger*eral adnDIStratIon expenses staff clothiry EouipmÈnt hire Health, Safety & welfare AllotmentexpensÈs Donatlons to others DepreE53tion L055 onsalÈ of assets 666,625 45,527 3,124 14,553 14,319 16,101 1,960 3,185 442 93,581 33.632 2.442 1.854 27.751 3,118 17,080 474 4.229 4,190 283 2,513 5,371 237 364 27,936 11,7001 587,265 45,737 1,898 11,103 7,691 14,319 2.526 51,426 12.715 1,211 670 l9,649 2,945 21,765 733 4,710 3,944 396 1,965 11.936 775 300 24.565 13.5001 989.191 826.744 Page 18 contlnued...
OSEL ENTERPRISES UMITED NOTESTO TWE FINANCIALSTATEMENTS-COminued FOR THE YEAR ENOED 31 MARCH 2022 SUPPORT COSTS Gomance costs Wight Crystal Way Forward WorkingToword5 Wellbelng LTrvifig Well 1,795 5,364 2.337 903 NEf INCOMEIIEXPENDMREI Netincomelleywmliturel ts stated aftercharwngllcredifjng): 2022 2021 Auditor5, remuneTalioft Oepreciation-owned ets Otheroperatlng leases Jiplus on 15pOSal of frAed assets 5.551 27,936 45,527 11,71J)I 24.565 45,737 13.5001 TfiusTEES' REmLmlERATl AND BENEFITS There were no tru5tees' remuneratlon or other beneffts for the year eNled 31 Mayd) 2022 nor fof the year ended 31 March 2021. Tru5tees' exp5$ There th*re no tru5tee5' expen5e5 pald fof the year ended 31March2022 nor for the year Ended 31 March 2021. io. STAFF COSTS 2022 2021 Wages and salaries SoDal security costs Other pension costs 609.335 44.169 13,121 541,384 34,149 11,732 666,625 587.265 Page 19 ntinued...
OSeLEMfÉRPRISES LIMITED NOTESTO THE FINANaAI STATEMENTS. contlnued FOA THEYEAR ENDED 31 MARCH 202Z STAFF C05TS- continued The avefa8e Month number ol employee5 duTlng theyeèr was a5follows'. 2022 2021 OSEL- full tlme Wlght Crystal lull tlme Wi8htCrystal- pJrttlrnE Way Forward- full tlme Woy Fornard- parttime WorklnETow?rds Wellbeini- lull tlme 16 37 P40 employees re£elved emoluments In excess of £60,000. ey personnel employed dufing the year werÈ 8s follo.. Job Role Chief Executlve Officer.. Tot•1 ¢ompensatlon £47,678 ii. COMPARATIVES F¢ THÉ STATeMEtIT OF NNANCLALACTivmES UnrÈstrlcted funds RestrSrted fund5 Total funds INCOME AND ENDOWMENTS FROM DOnatonS and le8acies 5,457 5,457 Charii•ble actlvltles WightCrystJl Way Forward Worklng Toward5 Wellbein8 Llvingwell 203,058 289,770 203.058 308,781 176.867 9,443 19,011 176,867 9,443 lryvestrnent Incon3e Otherlncome 2.558 127,594 448 3,OQ6 127,594 Total 628,437 205.769 834,2C EXPENDIYURE ON charftable actlvitle5 ght Crystal Way Forward Worklng Towards Wellbeln& Livin8Well 235,447 432,951 235,447 438,346 145,577 9,472 5,395 14S,577 9,472 Tot¥1 668,398 160,444 828,842 NET INCOMEIIEXKNDITUREI 139,9611 45,325 5,364 Page 20 contlnued...
05EL ENTERPRISES LIMITED NOTESTO THE FINAfiICIALSTATEMENTS. contlnued FOR ThE YEAR ENDED 31 MARCH 2022 IL COMPARAnvES FOR THESTATEMENT OF HNANCLILAcnviTIES-¢ontinued UnrEStrlcted fun¢Js Restrfct*J fknnds Tota funds Yranslers been funds 14,125 114,1251 Netmovernent in funds 1250361 31.200 5.364 RECONauATKIN OF FUNDS Total fund5 IxouRhtfoYward 516,863 54,235 571,098 TOTAL FLINDS CARRIED FORWARD 491,027 85.435 TANGIÈLE FfxED ASSETS Axtures ènd fittlTrgs Plantand mathiryery Motor vehicles Reclpes Totals cosr At IApril 2021 Additions D15posals 326,370 4,842 31.314 1.121 112,523 17,990 121,088 479.207 23.953 121,0881 At 31 Mèrch 2022 331.212 32,435 109025 482.Q72 DEPREaATION At l April 2021 ChargefoTyear Ellminated on disposal 3Q6A47 7,030 23,323 2,110 71.539 16,996 21.0881 6.IXIO IROO 407,309 27,936 121,0881 At 31 March 2022 313 477 2S,433 67,447 7,800 414,157 NETOOOKVALUE At31 March 2022 17.735 7,002 41,978 1.200 67,915 At31 March 2021 19.923 7,991 40,984 3,(KJO 71,898 Page 21 continued...
05EL ENTERPRISES LIMITED NOTESYO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2022 13. STOCKS 2022 2021 Raw mater5als & fln15hed 8ood5 Water cooler stocks 26,988 19,122 29,868 32,335 4G,110 62,203 14. OEBTORS: AMOus FALIING DUE WITHIN ONE YEAR 2022 2021 TrarlÈ debtors Other debtors VAT Prep8yments and 3c¢rued Income 92.728 7,010 38,250 6,750 326 6,709 6.920 106,658 52,035 Is. CREDITORS.. AMOUNfs FALLING DUE wrrHIN ONE YEAR 2022 2021 Trode credStor5 Social securlty and other taxes VAT other creditws Attrued expenses 20,430 11,395 2.177 2,766 8.260 19,679 7.237 3,733 2,060 16. ANALYSIS OF NET Asm BETWEÉN FU14DS 2022 Totsl funds 2021 Total fund5 Unrestrlcted fijnds Restrfcted funds Flxed a55ets Current355etS Current118bllitles 67,915 490,304 32.1501 67,915 618,019 45,0281 71,898 537,273 32,7091 127,715 12.8781 526,069 114,837 640,90fj 576,462 Page 22 continued...
OSEL ENTERPRISES UMITED NOTESTO THE FINANCIAL STATEMENTS-COhlinued FOR THE YEAR f NDED 31 MARCH 2022 17. MOVEMENT IN FUNDS Ttansfers between funds movement n fvnds At 31.3.22 Atl.4.21 Unre5trlcted knds General tund Theatre Fund Customer's 14ew Kltchen Allottmert Fund Conllngency Fund 487,574 2,576 322 555 21212 139,5491 470,237 2,576 256 1661 15551 53,000 53.QQO 491,027 22,212 12Aao 526.069 Restricted ld$ WorkingToward5 Wellbeing Asdan Fertivèl fijnd from Asd3 84A73 4L727 112,8301 113.370 962 505 85.435 42.232 114.837 TOTAL FUNDS 576.462 640,906 Net movement in fuThJs, Induded In the above are as ftsllows= Incornlng resources Resautte5 ¥pended Mownent In fijnds Unrestrf¢ted f4md5 Gera1 fkmd 833.986 1811.7741 21212 RestrlrtEd knds WorklngTowards Wellbelng Festival fuod from Asda 228.647 505 1186,9201 41,727 505 229.152 1186.920 42,232 TOTAL FUNDS 1.063.138 1998,6941 Page 23 contlnued...
OSEL EERPRISEs LIMITED )Tes TO THE FINANCiALSTATEMENTS- wtttlnued FOR THE YEAR ENDED31 MARCH 2022 17. MOVEMEP4T IN FUNDS-c¢Jntlnued CompaT•tlveslor movemen In funds Net movement In funds Tran5fprs etween funds At 31.3.21 At 1.4.20 Unrestrted lund5 Gener81 fund Theatre Fund Customer'5 New Kltchen Allottment Fund 513,262 2,989 322 290 139,5791 17) 13,891 14061 487,574 1576 322 555 13751 640 516,863 139,9611 14.125 491.027 Restrirted funds WofklngTowards Wellbeing A5dan Llving Well Way Forward Kitchen Way Forward Mlnlbus 43,476 IA71 9,288 31,638 15091 71 4,125 io,ooo 9,359 84,473 962 19.3591 14,1251 iio,0001 54,235 45,325 114,1251 85.435 TOTAL FUND5 571,098 5,364 576,462 Comparative net movement in fund5, Included In the above are a5follows: Incomlng rvour Resovrce5 expended Movement In fi)nds UnrB51rtrted funds General fund Theatre Fund Allottment Fufid 628,037 1667.6161 139,5791 400 17751 628,437 1668.3981 139,9611 Restrkted I}d5 WorklngTow8rds Wellbelng Asdan Llvlng Well Way F(ord Ktthen Workforte Capaclty Fund Way Forward Mlnlbus 177,215 1145,5771 15091 19.4721 31,638 15091 71 4,125 9.543 4,125 4.886 10.000 14,8861 10,000 205,769 160,4441 45,325 TOTAI FUNDS 834,206 1828,8421 5.364 Poge 24 continued...
OSEL ENfERPRISES LIMITED NOTES TO THE FIPIANCIAL STATEMENTS-cOnthed FOR THE YEAR ENDED 31 MARCH 2022 17. moVEMEP IN FUND5- continued A¢urrentyÈar 12 months and prioryear12 months c<yThbined position Is as ftdlows.. Net movement n funds Transfers between funds At 31.3.22 At IA.20 Unrestrirted fvnd5 General fund Théatre Fund ustomer'5 New Kitchen Allottment Fun(1 Contingency Fund 513,262 2,989 322 290 117,3671 125.6581 14061 1661 85 53.000 470,237 2,576 256 13751 53,OL 516.863 117.7491 26,955 526,069 RestrlÈ*ed funds Work¢ngTowards Wellbelng dan Living Well Way Forward Kitchen Way Forward Miribu5 Fettivol fund from Asda 43A76 1,471 9,288 ,365 15091 (3,4711 113,370 962 19,3591 14,1251 4,125 io,oco 505 505 54.235 87.557 26,9551 114.837 TOTAL FUNDS 571,098 69,808 640,906 Page 25 Eonfjrbued...
05EL ENTERPRISES LIMITED NOTESTO THE FINANCIALSTATEMENfs- continued FOR THeYEAR ENDED 31 MARCH 20Z2 17. MOVEMENT IN FUNDS- contlrtued A current yeèr 12 rnonths and prior 12 months comblned net movement In funds, Included in the above are asfttllow5'. Incamln resources ReY)urS expended Movement In funds Unfestrlcted funds General fund Theatre Fund Allottment Fund 1,462,023 11,479,3901 117,3671 400 17751 13751 1,462,423 11.480,1721 117,7491 Restrl(ted lunds WorkingTowards Wellb¢lTh8 Asdan Lwlng well Way Forward Kltchen Workforte Capacity Fund Way Forward Minibu5 Festlvalfund from A5da 405,862 1332,4971 15091 19,4721 73,365 15091 71 4.125 9.543 4,125 4,B86 io,ooo 14,8861 io,ooo 505 434,921 1347.3641 87.557 TOTAL FLIYDS 1,897,344 11,827,536) 69,808 D855gnated Funds The theatre fund Is donètlons tewards and Income generaied from productions of various shows put on by Wèy Forward. The contlngÈncy lund Is a redUOIn¢¥ re5ervefund tc pigtert the 5ÈNlces funded by NHSIDWP and the Isle of Wl8ht countll. The allotrnentfund 15 used when lunds gr donatlons are e1Ved frorp lotal companles forthe allotment. Ae5trlrted Funds Worklng Towards Wellbeing is an employment 5er¥ice for people covering from mÈrit31 health condltlon5,' the servke provides supportfor referrals to retain or gain employment. The A5dan fund is Ix)th an oward scheme ènd accreditstion network. providin8 educational opportunitlw for voung people. helplng learners develop ihelr personèl and soclal 5kllls through its award programmes and qualifjcatlons. Way Forward Kltchen rdate5 to 8 one.off restrlcted grant to fund thE Installatlon of a new kltchen at the Way Forvford the fe5tiv81 fund from Asda Is used to help finance a fe5twal or party at Way Forward to celebrate customers returning to the center after COVltk19. ThÈ fund had to be used to help ch8rltles recover from the lockdown perlod and to help reduce Increased anxlety levels. Page 26 continued...
OSEL ERPRISEs LlITE0 NOTES TOTHE FIPIANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2ty2Z 17. MOVEMENT111 FUNDS- cot)tinued Tr&n51ersbetweebTr fids The fdlwn¥traTrsfers have been mde betweenfundsduring theyear.. £53,CK)O has been transferred to the contyngen(y desgnatsd fuTrd from the general fund repre5entlng redUndancyresepfUThIS to protectthe servI$fUnded by NHs/DWP and the151e of Wight couJKil. Other smalkn transfe[5 have been m/de between the general fvnd ond th¢ deslgnateil funds at the tnJstee5' d15cretion. i& OTHER HNANCIALCOMiKqIYMEITS The ch8rit3tsle company has commitments under non-¢•nlIable operating leases for praperty of £61,38S and for plant and machinery of £11,065. RELATED PARTY DISCLOSiIRES There were no related partytrnnsactlon5 forthe yearended 31 March 2021 Page 27
OSEL ENTERPRISES UMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH Z02Z 2022 2Q21 INCOMEAND ENDOWMENTS Donation$ #nd leB8cle5 Donotlons 8,959 5.457 INvestment IDcome Deposit account interest 3,006 2,048 Charitbbl• attlthS Sal pwrt contracts COS Income Travel & expenses relmbursed bycllent Grant5 AttiVIe5 income Mi511aneo5 inwme 274,707 466,956 22,806 20,625 247.044 32 2.507 188.812 272,101 22,307 9,120 205,321 400 1.034,677 698,149 other income Job retentlon schemelncome 17,454 127,594 834,206 Total Incimlns resources 1,063,138 EXPENDITURE Ch•rltable &¢t1lIeS Staff Costs Soclal 5ecurhty Pen51on costs Rent Rates & water Insurance 8ht & heat TElephofie and r(mputer¢osts Postage, 5totionery& marketing Advertlsln8 Sundrle5 Wi8ht Crystal cost of sales Client expenses Staff tralnlng Establlshment eypense$ Repalr5 & renewals Carrled forward 609.335 44,169 13,121 45,527 3.124 14,553 14,319 16.101 I,950 3,185 442 93,581 33,632 2,442 1,8S4 27,751 925,096 541,384 34,149 11,732 45.737 1,898 11,103 7,691 14,319 2,526 51.426 12,715 1,211 670 19,649 756.210 Thispaue does notform pèrt of the5totutorylinanclal ststements Pa8e 28
OSEL ENTERPRISES LIMITED DAlLED 5TATEMEKf OFFINANCJALACTIMTIES FOR YtIE YEAR ENDED 31 MARCH 202Z 2022 2021 arltable acthilles Brought forward Bank & other financial tharges otor & tii)Jel Bad debts & provlsion written back Leg81 & professional fees General administrJtioTh expenses staff clothing Equipment hire Health, Safety & weware Allottnent expenses Donatlons to others Oepfeciatlon of tsngiblefixed èssets IProfftlAos5 on SI oltanglble fixed assets 925,096 3,118 17.080 474 4,229 4.190 283 2.513 5,371 239 364 27.936 1,7001 756,210 1945 21,765 733 4.71Q 3,944 396 L965 1£936 775 3W 24.$65 3.5(H)I 989.tsi 826.744 G0¥wnCe Eosts Auditor5, rerftUnerOn Accountancy Independent exarniners 5,551 3,952 1,798 3a0 9.503 1098 Total resources ewnded 998,694 828,842 Net income 5.364 Thi5 page does notform part of thestswtoryfinancial statements P38e 29