2024-03-31-accounts

REGISTERED COMPANY NUMBER: 02225130 (England and Wales} REGISTERED CHARITY NUMBER: 1007947 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR OSEL ENTERPRISES LIMITED Bright Brown Limited Chartered Accountants Statutory Auditor Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ

OSEL ENTERPRISE5 LIMITED CONTENTS OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report ofthe Independent Audilor5 Statement of Financial Activities io Balath¢e Sheet li Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Financlal Statements 14 to 26

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the pu rposes of the Compa nies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provi5ion5 Of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and principle activitv Osel Enterprises Ltd is an inclusive, outstandin8 SUPPOrt, education and learning service based on the Isle of Wight. Established to provide work for people with disabilities, Osel Enterprises continues to encourage independence and promote community groups, offering ASDAN education, arranging volunteering and working with local employers to offer paid employment opportunities. Osel Enterprises Ltd is managed by a board of Directors resident Dn the Isle of Wight, All are actively involved in the local community. Public benefit The trustees have pa5d due regard to the 8uidance f rom the Charity CommissSon regarding public benefit and what activltles the charity shou Id undertake within this, The charity seeks to operate within the community, offering employment, education and person-centred support to people with a learning disability or people recovering from mental health issues. STRATEGIC REPORT Achlevement and performance Manager's Report l am proud to say that Osel Enterprises Ltd, has continued to offer outstanding services during a challenging 'cost of living crisis, year. Our eth05 IS to inspire people with disabilities and relerral clients recovering from mental health issues. We ensure they play a full part in our local comrnunity and ensure that the support and products we provide continues to meet customer/funding requirements by listening and acting upon feedback. Way Forward offers the best Learnlng Dlsablllty Day servlces on the Island. We offer person-centred support through a varlety of daily sessions. The sessions on offer fit into four categories,. encourage independence, improve self.worth, social skills and education. New customers try out taster days at Way Forward and enjoy a unique programme of activity at the centre. Altematively, they can choose bespoke/person centred one to one support in the community. We have extended our services at Way Forward by offering respite accommodation in Cowes. We will offer short breaks to encourage independence and give parentslcarers a well-earned rest. Worklng Towards Wellbelng contlnues to expand Its servlces due to excellent lob rerentlonlemployment results. Phone meerlngs are still popular, we are offerlng face to face meetings in community settings. Referral numbers are increasing, and we are looking at adding to the team in 2024 should the uplift continue. The main contract for the Employment Advice and Support Service is up for review in 2024 (third yearl. NHS IOW will merge with other South Coast trusts to Improve efficiency and release money to Improve seNices on offer. Page I

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Wight Crystal has updated its product offer to reflect the changing public attitude towzrds 5in8le use pla5tiC5. Our customers are offered a selection of recycled, recyclable, biodegradable and compostable products and we remain alert to changing consumer trends. Lowering costs by working more eff iciently and not replacing staff has helped Wight Crystal fulf il its orders on time and in full, We are looking forward to new and existing events returnin8 in 2024 and look forward to a busy summer. Event accornmodation and marketing will be reviewed after the summer. Wight Crystal is collaboratin8 With a local provider to improve and add a 5hoppin8 basket option to the website, the updated website will digplay new images of products and will encourage customers to shop online. Staff retentlon is exceptionally good, especially in the Health and Social Care Sector, we look after staff by offering a competitive hourly rate and benefits. We have a small team of volunteers that are very loyal and are an important addition to the staff tearn. Financial results Again, the charity enjoyed a successful but inevitzbly challenging year, with new customers and referrals joining Way Forward, Wight Crystal and Working Towards Wellbeing. The charity enjoys an enviable reputation for delivering quality support, always exceeding the expectation of its service users. Putting money back into our services and the continual development of L)ur staff, despite the challenges of the cost-of-living crisis and the continual tightenin8 of local budgets, Osel has continued to operate safely. Currently we employ 37 people and have utlllsed the governments fundlng schemes wherever posslble. We have an excellent, stable workforce, valulng our siaff creates opportunities for development, which in turn encourages long Service. Recognising our talented team rnembers has helped stabilise all three enterprises and produces outstanding results. Osel Enterpri5e5 Ltd is determined to continually improve it5 service5, product5, and internal workin8 practices. We strive to Stay ahead of the competition and to be an efficient forward-thinking charity that stands out from all other social enterprises on the Island, We expect the coming months and full year to be challenging because of the cost-of-living crisis and the inevitable tightening of local and national funding for people with Learning Disabilities and Mental111 Health. Flnanclal review Financial posilion Total income for the year was £1,303,755 including £1,067,726 from unrestricted activities and £236,029 from restricted activities. Toial expendlture In ihe year was £1,250,661 Includlng £1,062,573 from unresirlcted actlvliles and £188,088 from resrrlcied activitles. ThSs resulted In a total operatSn8 surplus of £53,094 conslstlng of £5,153 in respect of unrestricted activlties and £47,941 in respect of restrlcted activities. Prlnclpal f undlng sources Principal sources of income are-. Sales of Wight Crystal produrts Funding from NHS for Services Income from provision of Support services These incomes are generated and used to support the objectives of the charity as noted above. Page 2

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Flnanclal revlew Reserves poliry The trustees Consider that the unrestricted funds, which are the free reserve5 of the charity, should be maintained at a level which equates to approximately four months expenditure. The current level of unrestricted reserves are £530,804 and are £97,242 after excluding fixed assets and designated funds which means the charity is in line witli the policy although part of the reserve is asset base(J. The trustees will continue to monitor the funds levels to ensure thi5 is maintained and plan to use surpluses when achieved to bo15ter cash reserves held. A5 noted in the accounts. the charity has purchased freehold propert¥ during the year end of £312,295 which has transferred cash into property a5set5. ChallengeslRisks Way Fonmard As ever, the challen6e wlth servlces Is trying to make the books balance when the Council cannot afford to pay our reallstlc current rates. Any rate shortfa115 must be invoiced directly to the customers parents/carers, this puts pressure on families already struggling to make ends meet, Wlght Crystal The focus on reduclng plastlc Is a threat to our small product offer, Introduclng glass optlons has helped and we wlll contlnue to source alternative products giving our customer a choice. Worklng Towards Wellbeln8 Due to our reliance on the NHS and DWP funding, Working Towards Wellbeing 15 applying for other funding 50urce5 to help secure its f uture. An employer's service has been created to offer employers return to work employment advice and support. The main contiact for the Employment Advice and Supp¢rt Service is up for review in 2024 Ithird yearl. NHS IOW will merge with other South Coast trusts to Improve efflciency and release money to Improve services on offer. The charity continues to facé the challengès by careful financial planning and use of its assets to enable it to continue its work and safe8uard its employees. Page 3

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Future plans The Future Osel Enterprlses Ltd turnover and profit have continued to grow, Osel has invested in property this year and will be looking at buying existing premises freehold over the next three to five years. All websites are being updated to make our inclusive service5 story easier to understand. Way Forward respite breaks will continue to 8row as more IOW Council bud8ets are reviewed to include respite options. Wight Crystal will be introducing two new carbonated flavoured drinks to their product offer during 2025. Working Towards Wellbeing will be applyin8 to run a dedicated Individual Placement and Support service in our S2condary Care Employment Support and Advice Service during 2024, if we are successful the service will start from July 2025. Objectives for 2024-2027 Durins 2024-2025 we will look at new Service and product offers. Osel will continue to review our workin8 practices through routine reviews or by incident. using good practice ideas from similar businesses. We aim to continually improve our products and services. Due to 8rowlng reserves Ilnvestments and funding successes) we will look to buy existSng rental premises to help secure the long.term future of the charity, Like many organisations, the charity is working a lot harder and thinking creatively to rnaximise opportunities. We are constantly increasing our product offer and services. Gaining local support and applying for funding is essential. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charlty Is controlled by its governing document, a deed ol trust, and constltutes a Ilmlted cempany, limited by guarantee, as defined by the Companies Act 2006, Trustees, organisation and management The business of the charitable company is managed by the board of trustees,. the number of trustees Is not subject to a maxlmum. The trustees hold adhoc meetings but the Chairman in particular a150 has constant weekly contact with the chief executive officer who run5 the charity on a day to day basis. Prospective directors/tru5tees are initially approached by a member of the b¢ard, prior to such nomination bein8 proposed at a board meeting, and subject to such proposal receivin8 the support of the board, the proposed new trustee is then invited to join the board and following his/her acceptance is fully briefed as to charity matters and it's aims and objectives at the f irst board meeting which he/she attends. There are no formal policies or procedures for the induction and training of trustees. The arrangements and setting of pay Icvcls of kcy management pcrsonncl are dealt with in trustec meeting5 from time to time and a number of factor5 are used to make the decision such as charity performance, employee performance and general economic factors at the time of the review. The overall performance of the charity and how it achieves its charitable objectives is the usual benchmark of the review and therefore major factor of the pay discussions is the financial and non-financial outcomes, achieved or not, durin8 the relevant period. Page 4

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02225130 IEngland and Wales) Reglstered Charlty number 1007947 Registered office 7 Daish Way Dodnor I ndustri21 Estate Newport Isle of Wight P030 5XJ Trustees C P Boswell D L Holmeg C A Dennett M Reed- appointed 6 November 2023 Audltors Brlght 8rown Llmlted Chartered Accountants Statutory Auditor Exchange House St. Cr055 Lane Newport Isle of Wight P030 5BZ Bankers HSBC 101 St James Street Newport Isle of Wight P030 IHX 5ollcitors Eldrid8es Avenue House Avenue Road Freshwater Isle of Wight P040 9UZ Page 5

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Osel Enterprises timited for the purposes of company lawl are responsible for preparing the Report of the Trustees an(J the financial statement5 in accordance with applicakjle law dnd United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 Practice). Company law require5 the trustees to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to., Select suitable accounting policies and then apply them cDnsistently Observe the methods and principles in the Charity SORP Make judgements and estimates that are reasonable and prudent Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the flnanclal posltlon of the charitable company and to enable them to ensure that the financial staternents comply wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5, I n so far as each of the persons who was a trustee at the date of approving this report is aware,, There is no relevant audit information of which the charitable company's auditors are unaware; and The Trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may dlffer from leglslatlon In other jurisdSctions. AUDITORS The auditors. Bri8ht Brown Llmited, will be proposed for re-appointment at the forthcomin8 Annual General Meeting. Report of the trustees, incorporating a strate6ic report, approved by order of the board of trustee5, as the company directors, on 20 December 2024 and signed on the board's behalf by.. D L Holmes- Trustee Page 6

REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBER5 OF OSEL ENTERPRISES LIMITED Opinion We have audited the financial statements of OSEL Enterprises Limited Ithe 'charitable company'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted A¢¢ounting Practice). I n our opinion the financial statements= give a true and fair view of the State of the charitable company's affairs as at 31 March 2024 and of it5 incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been prc)perly prepared in accordaiice with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Att 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethica I Standard, and we have fulfilled cur other ethical responsibilitie5 in accordance with these requirements. We bel ieve that the audit evidence we have obtained is sufficient and appropriate to provlde a basis for our opinion. Conclusions relating to going concern I n atsditing the financial statements, we have concluded that the trustees, use of the going concern basis of accountln8 in the preparation of the f inancial statements is appropriate. 8ased 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 charitable company's ability ro continue as a 8oin8 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 Irustees with respect to going concern are described in the relevant sections of this report. other Inform3tlon The trustees aré responsible for the other information. The other information comprisès the information included in the Annual Report, other than the financial statement5 and our Report of the I ndependent Auditors thereon. Our opinion on the financial staternent5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connectlon wlth our audit of the flnanclal statements, our responslbility Is to read the other informatSon and, In doln8 SO, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audil or otherwise appears to be materially rnisstated. If we identify such material incon51Stencies 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 15 a material misstatement of this other information, we are required to report that fact. We have nothin8 to report in this re8ard. Opinions on other matlers prescribed by the Cornpanies Act 2006 I n our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the TrLJStees has been prepared in accordance with applicable legal requirements. Page 7

REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBER5 OF OSEL ENTERPRISES LIMITED Matters on which we are required to report by exception I n the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mi55tatements in the Report of the Trustees. We have nothing to report in respect of the following matter5 where the Companie5 Act 2006 requires VS to report to you if, in our opinion., adequate accounting records have not been kept or returns adequate for our aLJdit have not been received frorn branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns,, or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more f ully in the Statement of Trustees, Responsibilities, the trustees Iwho are a Iso the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statement5 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. I n preparlng the financial statements, the trustees are responsible for assesslng the ch2rltable company's ablllty to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accc)unting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 50, Page 8

REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBER5 OF OSEL ENTERPRISES LIMITED Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error, and to 155ue a Report of the Independent Auditors 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 IUKI will always detect a material misstatement when it exi5t5. Misstatements can arise from fraud or error and are considered material if, individually or in the agBregate, 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.. I rregularities, including fraud, are instances of non-compliance with laws and regulations. We de518n procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities, including fraud. The eKtent to which our procedures are capable of detecting irregularities, including fraud 15 detailed below: Based on our understanding of the charitable companyi the principal risks are that of management override of controls, potential fraud in revenue recognition, potential diversion of cash income. The enga6ement team considered these risks and audit procedures were undertaken as follows: Dlscussions wlth management re8arding the ability to overrlde controls and revlew of processes In place to confirm no override had occurred. Extension of sample sizes relating to revenue recognition. The audit team remained aware of the possibility ol the diverslon of cash income durlng the course of the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the f inancial statements, the less likely we are to become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve deliberate concealment or intentional misrepresentations. A further description of our responsibilities for the audit of the financial statements is lo¢ated on the Financial Reporting Council's webslte at www.frc.org.uk/auditorsresponslbilities. Thls description forms part of our Report of the Independent Auditors. USÉ of our report This report is made solely to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Att 2006. Our audit work has been undertaken so that we might State to the charitable company's members those matters we are required to state to them in an auditors, 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 charitable company and the charitable company's members as a body, for our audlt work, for this repori, or for the oplnlons we have formed, David Stevens A,C.A.15enior Statutory Auditor) for and on behalf of Bright Brown Limited Chartered Accountants Statutory Auditor Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ 20 December 2024 Page 9

OSEL ENTERPRISE5 LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITLIRE ACCOUNn FOR THE YEAR ENDED 31 MARCH 2024 2024 Total fund5 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 19,213 19,213 19,112 Charitable attivities Wight Crystal Way Forward Working Towards Wellbeing 387,941 654,001 387,941 654,001 236,028 388,179 661,253 240.987 236,028 I nvestment income Total 6,571 1,067,726 6,572 1,303,755 2,003 1,311,534 236,029 EXPENDITURE ON Charitable artlvltles Wight Crystal Way Forward Working Towards Wellbeing Living Well Total 333,194 729,311 333,194 729,311 188.088 68 1,250.661 309,369 688,794 224,287 129 1,222,579 188,088 68 1,062,573 188 088 NEf INCOME 5,153 47,941 53,094 88,955 RECONCILIATION OF FUNDS Total funds brought forward 583,191 146,670 729,861 640,906 TOTAL FUNDS CARRIED FORWARD 588 344 194 611 782 955 729 861 The notes form part of these financial statements Pa8e 10

OSEL ENTERPRISE5 LIMITED {REGISTERED NUMBER: 022251301 BALANCE SHEET 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 12 433,562 90,136 CURRENT A5SET5 Stocks Debtors Cashat bank and in hand 13 14 64,452 81,490 265,092 411,034 65,978 111,250 503,126 680,354 CREDITORS Amounts falling due within one year 15 {61,6411 140,6291 NET CURRENT ASSETS 349,393 639.725 TOTAL ASSETS LESS CURRENT LIABILITIES 782,955 729,861 NEf ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 782 955 729 861 17 588,344 194,611 782 955 583,191 146,670 729 861 The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2024 and were signed on its behalf by.. D L Holmes- Trustee The notes form part of these financial statements Pa8e 11

OSEL ENTERPRISE5 LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Net cash provided by operating activitie5 145 592 145,592 89,921 89,921 Cash flows from Investlng artlvltles Purchase of tangible fixed assets Sale of tangiblè f ixed assets I nterest received Net cash used in investing activities 1398.5321 8,334 6,572 383,626 163.2991 9.250 2,CK)3 52,Q1461 Change in cash and cash equivalents in the reportln8 perlod Cash and cash equivalents at the beginnin8 of the reportln8 perlod Cash and cash equivalents at the end L7f the reportlng perlod 238,0341 37,875 5Q3,126 465.251 265 092 503 126 The notes form part of these financial statements Pa8e 12

OSEL ENTERPRISE5 LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOMETO NET CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net income for the reporting period {as per the Statement of Financial Activities Adjustments for: Depreciation charges Prof it on disP05al of f ixed assets Interest received Decreasellincreasel in stocks Decrease/lincreasel in debtors Increase/ldecreasel in creditors Net cash provided by operations 53,094 88,955 49,755 12,9831 16,5721 1,526 29,761 36,557 14,7301 12,LK13) 119,8681 14.5911 4,3991 145 592 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 503,126 503,126 503 126 238,0341 238,0341 238 0341 265,092 265,092 265 092 Total The notes form part of these financial statements Pa8e 13

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements The financial Statements of the charitable company, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS IQ21 (effective l January 20191,, Financial Reporting Standard 102 'fhe Financi21 Reporting Standard applicable in the U K and Republic of Ireland, and the Companies Act 2006. The f inancial statements have been prepared under the historical cost convention. The charitable company is registered in England and Wales and is limited by guarantee. The financial statements are presented in Sterling, which is the function21 currency of the charitable company. There are no material uncertainties about the charity's ability to continue. The charity constitutes a public benefit entity as defined by FRS 102. Key sources of estlmatlon uncertalnty Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residu31 values may vary dependin8 on a number of factors. Factors affecting the livès of assets include technological innovation and maintenance programmes. Income Voluntary Income Oonatlons are recognlsed In the Statement of Flnanclal Actlvltles once the charltable company has entltlement to the funds, it is probable that the income will be received and the amount can be measured reliably, this is generally upon receipt of the donation. Investment Income Interest receivable is recognised over the period it is accrued except where there are conditions imposed that must be met before interest Is recieved. Where this is the case the in¢ome is re¢ognised once the conditions have been met. Charltable Actlvltles Incomp from trading activit18$ 15 recognised, net of VAT and all other salès taxès when the 8oods are dèlivered or 5ervice5 are provided. Grants are recogni5ed when unconditional entitlement to the income is passed to the charitable company. Where there are performance related terms and conditions that must be met before unconditional entitlement passes to the charitable company, the Income Is recogn15ed once It Is hlghly probable thar these wlll be mer, Where no Such condltlons exist the Income Is recognlsed when it Is received. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of econjmic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basi5 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particu12r headings they have been allocated to artivitie5 on a basis consistent with the use of resources. Allocation and apportionment of costs The only costs not already directly attributed to an activity are govemance costs. These have been apportioned evenlv between the non-restricted activities of the charity. Pa8e 14 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued Tangible fixed ossets Depreciation 15 provided at the following annual rates in order to write off each a55et over its e5tirnated useful life.. Freehold property Plant and machinery Fixtures and fittings Motor vehicles Recipes Straight line over 50 years Straight line over 4 or 5 years Straiglit line over 4 or 5 years Straight line over 4 or 5 years Straight line over 5 years Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The value of finished goods is calculated by using hourly labour rates divided by number of products in a set, plus the value of raw materia15. Overheads of production zre not factored into the valuation formulae. TaxatiDn The charity is exempt from corporation tax on Its charitable actlvities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restrScted purposes within the objects of the charlty. Restrictions arise when specified by the donor or when f und5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes t¢ the financial statements. Penslon costs and other post-retliement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are char8ed to the Statement of Financial Activities in the period to which they relate. Financial instrufflentS The charity only has f inancial assets and financial liabil ities of the kind that qualify as basic financial instruments. Basic flnanclal Insrruments are Inltlally recognlsed at transactlon value and debr In5trumenis are subsequently measured ar amortised cost. Judgement5 in applyin8 accountin8 policie5 In preparing these financial statements the trustees have made the following judgements.. Determining whether income 15 restricted or unrestricted. These decisiDn5 depend upon the whether the donor has given the income subject to certain terms or conditions which impose a restriction in trust law. Pa8e 15 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations INVESTMENT IfrJCOME 2024 2023 Deposit account interest INCOME FROM CHARITABLE AcfiviTIES 2024 2023 Activity Wight Crystal Wight Crystal Sales Access to Work Income Travel & expenses reimbursed by client Activities income Miscellaneous income Sales Support contracts Access to Work Income Travel & expenses reimbursed by client Activitie5 income Miscellaneous Income Grants 368,518 16,389 373,209 15,000 Wight Crystal Wight Crystal Wight Crystal Way Forward Way Forward Way Fomard 1301 1,199 1,835 1,328 589,588 5,463 790 614,687 6,583 Way Fomard Way Forward Way Forward WorkinE Towards Wellbeing 29,845 20,190 7,587 236,028 1277 970 28,074 11,112 240,987 1290 419 Grants received, included in the above, are a5 follows.. 2024 2023 NHS Hampshire IOW ICB IWorkin8 Towards Wellbeing Working Towards Wellbeing NHS Talking Therapies EA NHS Talking Therapies Data Collection Family support service 112,583 540 99,949 7,200 15,756 236 028 112,584 103,650 7.200 17,553 240 987 Pa8e 16 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Cost51see note 61 Support C05t515ee note 71 Totals Wight Crystal Way Forward Working Towards Wellbeing Livin8 Well 329,364 724,443 185,833 61 1239 701 3,830 4,868 2,255 333,194 729,311 188,088 68 1 250 661 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Rent Rates & water Insurance Light & heat Telephone and computer costs Postage, Stationery & marketin8 Advertising Wight Crystal cost of sales Cllent expenses Staff training Establishment expenses Repairs & renewals Bank & other financial charges Motor & travel Bad debts & provision written back Legal & professional fee5 General administration expenses Staff clothing Equipment hire Health, safety & welfare Allotment expenses Donations to others Depreciation Loss on sale of assets 772,513 54,814 5,247 8,856 19,551 22,878 3,901 5,064 106,434 60,011 4,660 11,826 54,270 3,187 38,980 322 889 9,881 641 3,139 5,119 226 520 49,755 780,200 46.012 3.805 10,217 17.602 31,906 3,429 4.571 122,422 48.454 6,782 2,326 47.075 3,092 36,727 131 375 8,262 873 8,723 57 36,557 1239 701 1 214 868 Pa8e 17 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Governance costs Wight Crystal Way Forward Working Towards Wellbeing Living Well 3,830 4,868 2.255 NET INCOMEIIEXPENDITUREI Net incomellexpenditurel is stated after charging/lcreditingl'. 2024 2023 Auditor5, remuneration Depreciation owned asset5 Other operating leases Surplus on disposal of fixed a55ets 10,960 49,755 54,814 7,711 36,558 46.012 TRUSTEES, REMUNERATION AND BENEFIT5 There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Tru5tees' expenses There were no Irustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. io. STAFF COSTS 2024 2023 Wage5 and salaries Social security costs Other pension costs 708,422 47,701 16,390 772 513 709,760 54,908 15,532 780 200 Pa8e 18 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 io. STAFF COSTS - continued The average monthly number of employee5 during the year wa5 as follows.. 2024 2023 OSEL- full time Wight Crystal - full time Wight Crystal - part time Way Forward - full tirne Way Forward - part time Working Towards Wellbeing - full time Working Towards Wellbeing- part time 18 18 37 37 No employees received emoluments in excess of £60,00Q. Key personnel employed during the year were as follows,, Job Role Total compensation Chief Executive Officer., £52,556 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds Restrirted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 14,112 5,000 19,112 Charltable actlvitles Wight Crystal Way Forward Working Towards Wellbelng 388,179 661,2S3 388,179 661,253 240,987 240,987 Investment income Total 2,002 1,065,546 2,003 1,311,534 245.988 EXPENDITURE ON Charitable activities Wight Crystal Way Forward Working Towards Wellbeing Living Well Total 309,369 688,794 15,132 129 1013 424 309,369 688,794 224,287 129 1222 579 209,155 209 155 NET INCOME Transfers between funds 52,122 5,OCIO 36,833 5,000 88,955 Pa8e 19 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES - continued Unrestricted fund5 Restricted fund5 Total fund5 Net movement In funds 57,122 31,833 88,955 RECONCILIATION OF FUNDS Total funds brought forward 526,069 114,837 640,906 TOTAL FUNDS CARRIED FORWARD 583 191 146 670 729 861 12, TANGIBLE FIXED ASSETS Fixtures and f ittings Freehold property Plant and machinery COST At l April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At l April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 361,912 10,333 42,044 34,907 312.295 312,295 372,245 76,951 325,784 13,942 29,633 10,708 6,246 6.246 339,726 40,341 306 049 Pa8e 20 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 12. TANGIBLE FIXED ASSETS- continued Motor vehicles Recipes Tota15 COST At l April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At l April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 118,140 40,997 32,3441 126 793 9,000 531,096 398,532 32,3441 897 284 76,543 18,859 26,9931 68,409 9,000 440,960 49,755 26.9931 463,722 9,000 433 $62 13. STOCK5 2024 2023 Raw materials & finished goods Water cooler stocks 40,077 42.073 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors VAT Prepayments and accrued income 65,219 9,933 94,866 9,010 1.373 6,tJ)I 111250 6,338 Pa8e 21 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security 2nd other taxes VAT Other creditors Accrued expenses 24,423 11,180 4.822 7,674 13,542 14.244 11,326 5.730 9,329 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds FSxed assets Current assets Current liabilities 433.562 216,423 61,641 433,562 411,034 61.6411 782 955 90,136 68Q,354 40,6291 729 861 194,611 194 611 17. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrirted funds General fund Theatre Fund Customer's New Kitchen Contingency Fund 526,173 3,862 156 53,000 583,191 4,631 551 1291 530,804 4.413 127 5,153 588.344 Restrlrted funds Working Toward5 Wellbeing Asdan Festival fund from Asda 145,203 962 505 146 670 729 861 47,941 193,144 962 505 194 611 782 955 TOTAL FUNDS Pa8e 22 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- continued Net movement in funds, Included in the above are as follow5.. Incoming re50urce5 Resource5 expended Movement in funds Unrestritted funds General fund Theatre Fund Customer's New Kitchen 1,065,314 2,412 11,060,683) 11,8611 291 11,062,573) 4,631 551 291 5.153 1.067,726 Restrirted fund5 Working Towards Wellbeing 236,029 1188,0881 47,941 TOTAL FUNDS Comp8ratlves for movement In funds Net movement in f unds Transfers between funds At 31.3.23 At 1.4.22 Unrestritted funds General fund Theatre Fund Custorner's New Kitchen ContSn8ency Fund 470.237 2,576 256 53,000 526,069 50,936 1,286 i iooi 5,000 526,173 3,862 156 53,000 583,191 52,122 5,000 Restricted fund5 Working Towards Wellbeing Asdan Mini Bus Festival f und from Asd 113,370 962 31,833 145,203 962 5,000 15,0001 505 114 837 640 906 505 146 670 729 861 TOTAL FUND5 88 955 Pa8e 23 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming re50urce5 Resource5 expended Movement in funds Unrestritted funds General fund Theatre Fund Customer's New Kitchen 1,063,358 2,188 11,012,422) 19021 iooi 11,013,424) 50,936 1,286 iooi 52.122 1.065,546 Restrirted fund5 Working Towards Wellbeing Mini Bus 240,988 5,OOQ 245 988 1 311 534 1209,1551 31,833 5,000 36,833 209,1551 1 222 5791 TOTAL FUNDS A current year 12 months and prior year 12 months CDmbined position is as follows: Net movement in f unds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund Theatre Fund Cu5torner's New Kitchen Contingency Fund 470,237 2,576 256 53,OOQ 526,069 55,567 1,837 | 1291 5,000 530,804 4,413 127 57,275 5,000 588,344 Restricted funds Working Towards Wellbeing Asdan Mini Bus Festival f und from Asda 113,370 962 79,774 193,144 962 5,QOO 15,0001 505 114,837 640 906 505 194,611 782 955 84,774 142 049 15,0001 TOTAL FUNDS Pa8e 24 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- continued A current year 12 month5 and prior year 12 months CDmbined net movement in funds, included in the above are as follows: Incoming re50urce5 Resource5 expended Movement in funds Unrestritted funds General fund Theatre Fund Customer's New Kitchen 2,128,672 4,60Q 12,073,105) 12,7631 1291 12,075,997) 55,567 1,837 1291 57.275 2.133,272 Restrirted fund5 Working Towards Wellbeing Mini Bus 477,017 5,OOQ 482 017 2 615 289 1397,2431 79,774 5,000 84,774 142 049 397,2431 2 473 2401 TOTAL FUNDS Desl8nated Funds The theatre fund is donation5 towards and income generated from productions of various shows put on by Way Forward. The contingency fund is a redundancy reserve fund to protect the services funded by NHS/DWP and the Isle of Wight council. The allotment fund is used when funds or donations are received from local companie5 for the allotment. Restrlcted Funds Working Towards Wellbeing is an employment Service for people recovering f rom mental health condition5,' the service provides support for referrals to retain or gain employment. The A5dan fund is both an award scheme and accreditation network, providin8 educational opportunities for young people, helping learners develop their personal and social skills through its award programmes and qualifications, Way Forward Kitchen relates to a one-off restrlcted grant to f und the Installation of a new kitchen at the Way Forward site. The festival fund from Asda 15 used to help finance a festival or party at Way Forward to celebrate customers returning to the center after COVID-19. The fund had to be used lo help charities recover frorn the lockdown period and to help reduce increased anxiety levels. Pa8e 25 continued...

OSEL ENTERPRISE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 18. CAPITAL COMMITMENTS 2024 2023 Contracted but not provided for in the financial statements The 2023 amount relates to the freehold property purchased in the period. 19. OTHER FINANCIAL COMMITMENTS The charitable company has commitments under non-cancellable operating lease5 for property of £40,50112023.' £59,643) and for plant and machinery of £6,23712023: £8,651). 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2924. Pa8e 26

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