**Charity registration number: 1010074**
## **OAC Buildings**
## **UNAUDITED FINANCIAL STATEMENTS**
**For the year ended 31 December 2022**
**OAC Buildings**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees' annual report|2 - 4|
|Independent Examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the accounts|8 - 13|
**OAC Buildings**
## **Legal and administrative information for the year ended 31 December 2022**
## **Trustees**
G Nottingham W Howard H Clarke E Lawton Resigned 21 November 2022 A Evans Resigned 19 July 2022 H Furness Appointed 19 July 2022 J Sleaford Appointed 19 July 2022
Gillian Nottingham will stand down as a Trustee and member of the Management Committee on 20 April 2023 (date of the AGM)
## **Other volunteer members of the Management Committee (not Trustees)**
E Parker A Linster N Whiteway A Evans – appointed 12 January 2023
## **Registered office**
Whiteley Woods Outdoor Activity Centre Common Lane Sheffield S11 7TG
**Charity number** 1010074
## **Bankers**
CAF Bank Limited PO Box 289 West Malling Kent ME19 9TA
Virgin Money 154-158 Kensington High Street London W8 7RL
## **Independent Examiner**
Susan Cochrane, FCA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
1
## **OAC Buildings**
## **Trustees' report for the year ended 31 December 2022**
The trustees are pleased to present their annual report together with the financial statements of the charity for the year ending 31 December 2022.
The financial statements comply with the Charities Act 2011, the governing document and the charities Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.
## **Structure, governance and management**
OAC Buildings is a Charitable Incorporated Organisation (CIO). Originally registered with the Charity Commission on 25 March 1992 the charity converted to a CIO, with limited liability of £1, on 26 November 2021. The charity number is 1010074.
Overall management of the Charity is the responsibility of the Trustees. Day to day operations are undertaken by the Centre Manager who was appointed on 1 February 2022 alongside other part time staff and volunteers.
Staff remuneration is set by the management committee who benchmark against cost of living rises as well as increases in the national minimum wage.
The trustees retire from office and are elected at the Annual General Meeting each year.
## **Charitable Aims and objectives**
The charity exists to educate and assist young persons.
The main aim of the charity is to provide opportunities for young people to carry out outdoor activities. The charity principally provides accommodation for groups of children and young people, principally members of Guiding and Scouting but including school and other youth groups in the buildings of the Outdoor Activities Centre together with opportunities to use the grounds for camping and outdoor activities.
In carrying out these activities, the trustees have had regard to the guidance issued by the Charity Commission on public benefit.
## **Activities and achievements**
In 2022 we were able to welcome back many more groups for residential experiences and were pleased to provide opportunities for school groups, a CISV international group and a Swedish girls’ football team in Sheffield for the Women’s football European Cup.
A Girlguiding Sheffield County camp brought together girls and young women from across the city.
Fundraising continued to support the ‘Futureproof the Centre’ initiative to refurbish the 300-year-old listed buildings. Fundraising included Christmas wreath-making classes, the Heritage Open Day and various smaller activities.
2
## **OAC Buildings**
## **Directors' report (incorporating the Trustees' annual report) (continued) for the year ended 31 December 2022**
## **Activities and achievements (continued)**
In September 2022, the Trustees applied to the Youth Investment Fund for a grant to refurbish the derelict Goodwin Cottage providing additional accommodation for smaller groups and to carry out extensive repairs to the remaining buildings and the replacement of two shower and toilet blocks. A grant of £400,000 plus contingency of 15% was approved and an offer letter received on 9 November 2022. The contract documentation was formally signed in January 2023 and practical work started in February 2023.
As a result of the death of the owner of the property adjacent to the centre, the executors offered Girlguiding Sheffield, freeholders, a parcel of land including the part of the pond not currently owned. Girlguiding Sheffield is currently in the process of registering title to the whole of the centre including the gifted area and is issuing OAC Buildings with a new lease.
## **Future activities**
The Trustees will work alongside relevant professional advisers to carry out the work for which the Youth Investment Fund grant has been awarded. This is expected to conclude in September 2024.
As part of the work young people aged 11-18 will be consulted and their ideas incorporated into the building work. In addition, specialist consultants will be asked to provide advice about the environmental and cost implications of the building, heating and electrical options available.
A financial review carried out during the year concluded that there were sufficient funds for an additional staff member. They would assist the manager with the management and delivery of adventurous activities and marketing the opportunities available. On 14 February 2023 an additional staff member joined us on a 12-month contract.
The future aims and activities of the Charity will not change and the Management Committee is confident that there are sufficient reserves to operate for the next 12 months as demonstrated by cash flow forecasts produced and updated at each management meeting held every 4-6 weeks.
## **Financial review and reserves policy**
The financial result for the year was net income of £24,583 (2021: net income of £22,020).
The level of reserves is reviewed at every management meeting. In August 2022 it was agreed to use surplus accrued reserves to employ a temporary Activities, Marketing and Events Co-ordinator thereby supporting the growth of the operations. A temporary staff member was appointed in November 2022. That staff member has since left and has been replaced by an activities co-ordinator who started work in February 2023.
The reserves policy is that reserves of approximately 12 months’ expenditure (£70,000-£80,000) should be retained to cover the continuing costs and any unexpected large repair bills. Any reserves in excess of this level will be transferred to funds restricted for use on the building repairs.
3
## **OAC Buildings**
## **Directors' report (incorporating the Trustees' annual report) (continued) for the year ended 31 December 2022**
## **Financial review and reserves policy (continued)**
At 31 December 2021 the unrestricted free reserves held were £133,837 (2021: £93,895), this exceeds the target set. In addition to the unrestricted free reserves, the charity held £183,863 (2021: £186,567) of restricted fixed assets and £22,357 (2021: £24,627) of restricted current assets.
Approved by the trustees on 20 April 2023 and signed on their behalf by:
G Nottingham Trustee
4
**Independent Examiner’s report to the trustees of OAC Buildings (“the Charity”)**
I report to the trustees of OAC Buildings on my examination of the accounts of the Charity for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached
Signed: ______________________
Susan Cochrane, FCA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
Date:
5
## **OAC Buildings**
## **Statement of financial activities**
(incorporating the income and expenditure account)
## **For the year ended 31 December 2022**
|**Notes**
**Income from:**
Grants and donations
**2**
Charitable activities
**3**
Investments - bank interest
Raising funds - Shop sales
Fundraising activities
**Expenditure from:**
Charitable activities
**4**
Raising funds - shop expenditure
Fundraising activities
**Net income/(expenditure)**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
19,143
98,293
414
6,072
-
**123,922**
99,598
3,275
-
**102,873**
21,049
114,710
**135,759**|**Restricted**
**funds**
**£**
11,368
-
-
-
3,435
**14,803**
10,769
-
500
**11,269**
3,534
211,194
**214,728**|**2022**
**Total**
**£**
30,511
98,293
414
6,072
3,435
**138,725**
110,367
3,275
500
**114,142**
24,583
325,904
**350,487**|Unrestricted
funds
£
32,721
60,455
6
3,091
-
96,273
81,165
1,872
-
83,037
13,236
101,474
114,710|Restricted
funds
£
14,138
-
-
-
4,812
18,950
8,596
-
1,570
10,166
8,784
202,410
211,194|2021
Total
£
46,859
60,455
6
3,091
4,812
115,223
89,761
1,872
1,570
93,203
22,020
303,884
325,904|
|---|---|---|---|---|---|---|
6
## **OAC Buildings**
## **Balance Sheet**
## **As at 31 December 2022**
|**Notes**
**Fixed assets**
Tangible assets
**7**
**Current Assets**
Stocks
**8**
Balance at bank and cash
Debtors
**9**
**Total current assets**
Creditors: amounts falling due within one year
**10**
**Net current assets**
**Net assets**
Creditors: amounts falling due after one year
**Total net assets**
**The funds of the charity:**
General funds
Designated funds
**11**
Unrestricted funds
Restricted funds
**12**
**Total charity funds**
**13**
Approved by the trustees on 20/04/2023|**2022**
**£**
194,293
2,216
155,653
6,694
164,563
(8,369)
156,194
350,487
-
**350,487**
135,759
-
135,759
214,728
**350,487**|2021
£
207,382
2,503
118,655
6,170
127,328
(8,806)
118,522
325,904
-
**325,904**
114,710
-
114,710
211,194
**325,904**|
|---|---|---|
Signed on behalf of the trustees by:
G Nottingham Trustee
7
**OAC Buildings**
## **Notes to the financial statements For the year ended 31 December 2022**
## **1 Accounting policies**
## **(a) Basis of preparation**
OAC Buildings is a charitable incorporated organisation. In the event that the charity is wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and with the Charities Act 2011. The financial statements have taken advantage of the exemption to prepare a Statement of Cash Flows
OAC Buildings meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £.
## **(b) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Fees and other charges are recognised in the year in which they are earned.
Legacy income is included at the earlier of receipt or release of the final estate accounts.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **(c) Expenditure and liabilities**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **(d) Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **(e) Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
## **(f) Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
8
**OAC Buildings**
## **Notes to the financial statements For the year ended 31 December 2022 (continued)**
## **(g) Fixed assets**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Buildings over 87 years Outdoor shelter units 25% straight line Fixtures and fittings 25% straight line Equipment 25% straight line
## **(h) Funds**
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the charity's objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Designated funds are set aside at the trustees discretion for future projects.
## **(i) Pension obligations**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **(j) Taxation**
As a charity, OAC Buildings is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
## **2 Grants and donations**
|**Unrestricted**
**funds**
**£**
Donations
15,206
Government grants
2,937
Grants:
Harry Bottom Charitable Trust
-
South Yorkshire Community Foundation
-
J G Graves Charitable Trust
-
1,000
**19,143**
University of Sheffield - Summer Internship
Programme|**Restricted**
**funds**
**£**
8,368
-
-
-
3,000
-
**11,368**|**2022**
**Total**
**£**
23,574
2,937
-
-
3,000
1,000
**30,511**|Unrestricted
funds
£
15,790
16,931
-
-
-
-
32,721|Restricted
funds
£
8,138
-
3,000
3,000
-
-
14,138|2021
Total
£
23,928
16,931
3,000
3,000
-
-
46,859|
|---|---|---|---|---|---|
## **3 Income from charitable activities**
|**Unrestricted**
**funds**
**£**
Site fees - Renwick
18,169
Site fees - Plimsoll
12,383
Camping fees - Unequipped sites
7,992
Day visits
13,142
Other rooms and fees
29,274
Activity and other charges
17,333
**98,293**|**Restricted**
**funds**
**£**
-
-
-
-
-
-
**-**|**2022**
**Total**
**£**
18,169
12,383
7,992
13,142
29,274
17,333
**98,293**|Unrestricted
funds
£
11,927
9,982
4,511
16,436
8,699
8,900
60,455|Restricted
funds
£
-
-
-
-
-
-
-|2021
Total
£
11,927
9,982
4,511
16,436
8,699
8,900
60,455|
|---|---|---|---|---|---|
9
**OAC Buildings**
## **Notes to the financial statements**
## **For the year ended 31 December 2022 (continued)**
## **4 Expenditure on charitable activities**
|**Unrestricted**
**funds**
**Note**
**£**
Rent and rates
17,489
Heat, light, water and waste collection
11,464
Repairs and maintenance
13,008
Insurance
10,981
Equipment
5,042
Cleaning
2,263
Depreciation
10,385
Wages
**5**
25,952
Advertising
360
Administration
519
Telephone
345
Sundries
331
Support costs
**6**
1,459
**99,598**|**Restricted**
**funds**
**£**
-
-
8,065
-
-
-
2,704
-
-
-
-
-
-
**10,769**|**2022**
**Total**
**£**
17,489
11,464
21,073
10,981
5,042
2,263
13,089
25,952
360
519
345
331
1,459
**110,367**|Unrestricted
funds
£
17,020
9,217
16,303
9,849
2,407
1,171
10,385
11,722
528
237
541
426
1,359
81,165|Restricted
funds
£
-
-
5,892
-
-
-
2,704
-
-
-
-
-
-
8,596|2021
Total
£
17,020
9,217
22,195
9,849
2,407
1,171
13,089
11,722
528
237
541
426
1,359
89,761|
|---|---|---|---|---|---|
## **5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
|Wages and salaries
Redundancy payments
Employer's national insurance contributions
Employer's allowance
Employer's pension contribution|**2022**
**Total**
**£**
25,952
-
1,006
(1,006)
-
**25,952**|2021
Total
£
11,722
-
9
(9)
-
**11,722**|
|---|---|---|
There were an average of 6 (2021: 5) staff per month - a mixture of part and full time staff.
No trustees received any reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).
10
**OAC Buildings**
## **Notes to the financial statements**
## **For the year ended 31 December 2022 (continued)**
## **6 Support costs**
|**Unrestricted**
**funds**
**£**
Independent examination fees
714
Professional fees
745
1,459
**7**
**Tangible assets - combined**
Renwick
Building
£
**Cost**
At 1 January 2022
235,249
At 31 December 2022
235,249
**Depreciation**
At 1 January 2022
48,682
Depreciation charge
2,704
At 31 December 2022
51,386
**Net book value**
**At 31 December 2022**
**183,863**
At 31 December 2021
186,567
**8**
**Stocks**
Shop stock
**9**
**Debtors and accrued income**
Site fees
Prepayments
**10 Creditors: amounts falling due within one year**
Other creditors
Accruals
Deferred income|**Restricted**
**funds**
**£**
-
-
-
Improv.
to property
£
3,532
3,532
105
41
146
**3,386**
3,427|**2022**
**Total**
**£**
714
745
1,459
Outdoor
shelter
units
£
18,321
18,321
18,321
-
18,321
**-**
-|Unrestricted
funds
£
600
759
1,359
Fixtures
and
fittings
£
62,328
62,328
44,940
10,344
55,284
**7,044**
17,388|Restricted
funds
£
-
-
-
Equipment
£
2,802
2,802
2,802
-
2,802
**-**
-
**2022**
**£**
2,216
**2022**
**£**
5,584
1,110
6,694
**2022**
**£**
1,255
714
6,400
**8,369**|2021
Total
£
600
759
1,359
Total
£
322,232
322,232
114,850
13,089
127,939
**194,293**
207,382
2021
£
2,503
2021
£
5,641
529
6,170
2021
£
796
610
7,400
8,806|
|---|---|---|---|---|---|
11
**OAC Buildings**
## **Notes to the financial statements For the year ended 31 December 2022 (continued)**
## **11 Analysis of movements in designated funds**
There were no designated funds during the year (2021: £nil)
## **12 Analysis of movements in restricted funds**
|Building fund
Sheffield Town Trust
Roof appeal
Future Proof the Centre|**Brought**
**forward**
**£**
186,567
110
24,517
-
**211,194**|**Income**
**£**
-
-
3,042
11,761
**14,803**|**Expenditure**
**£**
(2,704)
-
(5,312)
(3,253)
**(11,269)**|**Carried**
**forward**
**£**
183,863
110
22,247
8,508
**214,728**|
|---|---|---|---|---|
## **Building Fund**
The Building fund represent monies raised to fund the cost of the new building. The building has now been built and related depreciation is charged through this fund.
## **Sheffield Town Trust**
The fund represents the balance remaining of a grant to purchase kayaking equipment.
## **Roof appeal**
The roof appeal fund represents donations received towards a specific funding campaign to replace the roof.
## **Future Proof the Centre**
To support the ongoing programme of repairs and maintenance continuing the commitment to preserving our historic building and improve our green spaces.
_Analysis of movements in restricted funds - previous year_
|_Building fund_
_Sheffield Town Trust_
Roof appeal|_Brought_
_forward_
_£_
_189,271_
_110_
_13,029_
_202,410_|_Income_
_£_
_-_
_-_
_18,950_
_18,950_|_Expenditure_
_£_
_(2,704)_
_-_
_7,462_
_-_
_(10,166)_|_Carried_
_forward_
_£_
_186,567_
_110_
_24,517_
_211,194_|
|---|---|---|---|---|
12
**OAC Buildings**
## **Notes to the financial statements**
## **For the year ended 31 December 2022 (continued)**
## **13 Analysis of net assets between funds**
|Fixed assets
Net current assets
_Analysis of net assets between funds - previous year_
_Fixed assets_
_Net current assets_|**Unrestricted**
**Restricted**
**2022**
**funds**
**funds**
**Total**
**£**
**£**
**£**
10,430
183,863
194,293
133,837
22,357
156,194
**144,267**
**206,220**
**350,487**
_Unrestricted_
_Restricted_
_2021_
_funds_
_funds_
_Total_
_£_
_£_
_£_
_20,815_
_186,567_
_207,382_
_93,895_
_24,627_
_118,522_
_114,710_
_211,194_
_325,904_|
|---|---|
## **14 Related party transactions**
The following are related parties as the organisations have one or more of the same trustees:
||**2022**|2021|
|---|---|---|
||**Total**|Total|
||**£**|£|
|**The Guide Association - Sheffield County**|||
|The following income was received:|||
|Donations|15,000|15,000|
|The following expenditure was made:|||
|Rent payable|15,000|15,000|
13