Charity registration number: 1010074
OAC Buildings
UNAUDITED FINANCIAL STATEMENTS
For the year ended 31 December 2023
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 2023
Trustees
G Nottingham resigned 20 April 2023 W Howard H Clarke H Furness J Sleaford A Linster appointed 20 October 2023 N Whiteway appointed 20 October 2023
Other volunteer members of the Management Committee (not Trustees)
E Parker A Evans
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
Accountants
Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
1
OAC Buildings
Trustees' report for the year ended 31 December 2023
The trustees are pleased to present their annual report together with the financial statements of the charity for the year ending 31 December 2023.
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, and in particular with regards to fee charging.
Activities and achievements
In 2023 we welcomed many groups for residential experiences and were pleased to provide opportunities for school and university groups alongside groups from Girlguiding and Scouting.
Large events included a fun day for Girlguiding members from the east of the city and a weekend camp for Girlguiding members from South West Division. New equipment was provided for archery and frisbee golf and new crates for our crate stacking activity.
We began planning our first Whiteley Woods Winter Weekend to be delivered at the beginning of March 2024, a weekend of activities open for young people from Girlguiding and Scouting; the first time that such a weekend has been delivered directly by Whiteley Woods.
Fundraising continued to support the ‘Futureproof the Centre’ initiative to maintain our 300-year-old listed buildings.
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OAC Buildings
Directors' report (incorporating the Trustees' annual report) (continued) for the year ended 31 December 2023
Activities and achievements (continued)
Following the award of a Youth Investment Fund grant to refurbish the derelict Goodwin Cottage and replace two shower and toilet blocks, work continued during the year with our building surveyor and architect to plan the development alongside users. A preferred contractor was agreed. Specialist consultants have provided advice about the environmental and cost implications of the building. An air source heat pump is planned alongside underfloor heating and breathable plaster and paint to provide the best environmental solutions to our Grade 2 listed, 300 year old building.
Work on Goodwin cottage began in December 2023 with completion in early May 2024. The new toilet and shower block was in place from April 2024.
Following the gift of land from neighbours, Girlguiding Sheffield has worked to register the title to the whole of the centre including the gifted area and has issued OAC Buildings with a new lease.
As part of the Youth Investment Funding we were able to secure funding for a marketing and development worker to promote the centre. Following a recruitment exercise a part time worker was appointed and started work in January 2024. We were also able to secure Youth Investment Funding to pay salaries for our existing activities co-ordinator and activity instructors. This will continue until March 2025.
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 March 2025 and include the completion of the National Youth Agency development plan for our work with young people.
Ongoing work to maintain and improve the site continues. For the coming year work is required to improve plumbing and ventilation in Plimsoll, consideration of an improved access path to the new toilet/shower block, secure the electricity supply so that it meets our requirements and carry out discovery work on our Grade 2 listed Orchard wall to ensure it is safe. All of this work will require additional funds, and we will look to meet this through applications to grants and fundraising activity.
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 £37,218 (2022: net income of £24,583).
The level of reserves is reviewed annually. The reserves policy is that reserves should be held which are equal to approximately 12 months’ expenditure, retaining this amount should cover the continuing costs and any unexpected large repair bills. The target reserves has been calculated to be £120,000.
At 31 December 2023 the unrestricted free reserves held were £133,378 (2022: £125,329), this exceeds the target set.
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OAC Buildings
Directors’ report (incorporating the Trustees’ annual report) (continued) for the year ended 31 December 2023
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a Directors' report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the applicable Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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¢ State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
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Approved by the trustees on 1 7™ Oct 2 Ki and signed on their behalf by:
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Trustee
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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 2023.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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, DChA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
Date: 21/10/2024
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OAC Buildings
Statement of financial activities
(incorporating the income and expenditure account)
For the year ended 31 December 2023
| Notes Income from: Grants and donations 2 (excluding the capital project) Grants and donations 3 (capital project) Charitable activities 4 Investments - bank interest Raising funds - Shop sales Fundraising activities Profit on disposal of fixed assets Expenditure from: Charitable activities 5 Raising funds - shop expenditure Fundraising activities Net income/(expenditure) Transfers between funds 12 Total funds brought forward Total funds carried forward |
Unrestricted funds £ 7,509 - 106,753 1,395 6,502 1,247 500 123,906 122,854 3,196 - 126,050 (2,144) 183,973 135,759 317,588 |
Restricted funds £ 23,336 42,000 - - - - - 65,336 25,974 - - 25,974 39,362 (183,973) 214,728 70,117 |
2023 Total £ 30,845 42,000 106,753 1,395 6,502 1,247 500 189,242 148,828 3,196 - 152,024 37,218 - 350,487 387,705 |
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 |
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OAC Buildings
Balance Sheet As at 31 December 2023
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|2023|2022|
|Notes|£|£|
|Fixed assets|
|Tangible assets|8|239,907|194,293|
|Current Assets|
|Stocks|9|2,345|2,216|
|Balance at bank and cash|149,373|155,653|
|Debtors|10|8,010|6,694|
|Total current assets|159,728|164,563|
|Creditors: amounts falling due within one year|11|(11,930)|(8,369)|
|Net current assets|147,798|156,194|
|Net assets|387,705|350,487|
|-|-|
|Creditors: amounts falling due after one year|
|Total net assets|387,705|350,487|
|The funds of the charity:|
|Unrestricted funds|317,588|135,759|
|Restricted funds|12|70,117|214,728|
|Total charity funds|14|387,705|350,487|
|Approved by the trustees on …................|
|Signed on behalf of the trustees by:|
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Trustee Trustee
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OAC Buildings
Notes to the financial statements For the year ended 31 December 2023
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.
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.
(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
The capital project is accounted for at cost (based on the value of architects' certificates and other direct costs incurred in the year). The capitalised project costs will be depreciated from the accounting peiod in which the project is completed.
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OAC Buildings
Notes to the financial statements For the year ended 31 December 2023 (continued)
(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 (excluding the capital project)
| Unrestricted funds £ Donations 7,509 Government grant - Grants: Co-op Community Fund - The Freshgate Trust Foundation - Sheffield Town Trust - J G Graves Charitable Trust - - Social Investment Business - YIF revenue fund - 7,509 3 Grants and donations (capital project) Unrestricted funds £ Social Investment Business - YIF capital fund - - 4 Income from charitable activities Unrestricted funds £ Site fees - Renwick 27,078 Site fees - Plimsoll 18,661 Camping fees - Unequipped sites 8,330 Day visits 12,522 Other rooms and fees 19,573 Activity and other charges 20,589 106,753 University of Sheffield - Summer Internship Programme |
Restricted funds £ 1,419 - 2,379 3,000 2,000 - - 14,538 23,336 Restricted funds £ 42,000 42,000 Restricted funds £ - - - - - - - |
2023 Total £ 8,928 - 2,379 3,000 2,000 - - 14,538 30,845 2023 Total £ 42,000 42,000 2023 Total £ 27,078 18,661 8,330 12,522 19,573 20,589 106,753 |
Unrestricted funds £ 15,206 2,937 - - - 1,000 - 19,143 Unrestricted funds £ - - Unrestricted funds £ 18,169 12,383 7,992 13,142 29,274 17,333 98,293 |
Restricted funds £ 8,368 - - - 3,000 - - 11,368 Restricted funds £ - - Restricted funds £ - - - - - - - |
2022 Total £ 23,574 2,937 - - 3,000 1,000 - 30,511 2022 Total £ - - 2022 Total £ 18,169 12,383 7,992 13,142 29,274 17,333 98,293 |
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OAC Buildings
Notes to the financial statements
For the year ended 31 December 2023 (continued)
5 Expenditure on charitable activities
| Unrestricted funds Note £ Rent and rates 16,150 Heat, light, water and waste collection 17,619 Repairs and maintenance 28,438 Insurance 12,297 Equipment 4,213 Cleaning 3,028 Depreciation 10,083 Wages 6 25,513 Advertising 564 Administration 261 Telephone 1,559 Sundries 121 Support costs 7 3,008 122,854 |
Restricted funds £ - - 10,890 - 1,173 - - 13,911 - - - - - 25,974 |
2023 Total £ 16,150 17,619 39,328 12,297 5,386 3,028 10,083 39,424 564 261 1,559 121 3,008 148,828 |
Unrestricted funds £ 17,489 11,464 13,008 10,981 5,042 2,263 10,385 25,952 360 519 345 331 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 |
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6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
| Wages and salaries Employer's national insurance contributions Employer's allowance Employer's pension contribution |
2023 Total £ 39,104 1,279 (1,279) 320 39,424 |
2022 Total £ 25,952 1,006 (1,006) - 25,952 |
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The average number of employees during the period was 7 (2022: 6). There was a mixture of part and full time staff
No trustees received any reimbursed expenses during the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).
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OAC Buildings
Notes to the financial statements
For the year ended 31 December 2023 (continued)
7 Support costs
| Unrestricted funds £ Independent examination fees 1,020 Professional fees 1,988 3,008 8 Tangible assets - combined Renwick Building £ Cost At 1 January 2023 235,249 Additions - Disposals - At 31 December 2023 235,249 Depreciation At 1 January 2023 51,386 Depreciation charge 2,704 Eliminate on disposal - At 31 December 2023 54,090 Net book value At 31 December 2023 181,159 At 31 December 2022 183,863 |
Restricted funds £ - - - Capital Project £ 3,532 55,697 - 59,229 146 335 - 481 58,748 3,386 |
2023 Total £ 1,020 1,988 3,008 Outdoor shelter units £ 18,321 - - 18,321 18,321 - - 18,321 - - |
Unrestricted funds £ 714 745 1,459 Fixtures and fittings £ 62,328 - - 62,328 55,284 7,044 - 62,328 - 7,044 |
Restricted funds £ - - - Equipment £ 2,802 - (2,802) - 2,802 - (2,802) - - - |
2022 Total £ 714 745 1,459 Total £ 322,232 55,697 377,929 127,939 10,083 138,022 239,907 194,293 |
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The capital project is being funded primarily by the Youth Investment Fund.
9 Stocks
| Shop stock 10 Debtors and accrued income Site fees Prepayments 11 Creditors: amounts falling due within one year Other creditors Accruals Deferred income |
2023 £ 2,345 2023 £ 3,071 4,939 8,010 2023 £ 2,031 1,694 8,205 11,930 |
2022 £ 2,216 2022 £ 5,584 1,110 6,694 2022 £ 1,255 714 6,400 8,369 |
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OAC Buildings
Notes to the financial statements
For the year ended 31 December 2023 (continued)
12 Analysis of movements in restricted funds
| Buildings fund Sheffield Town Trust Roof appeal Future Proof the Centre OAC Friends Youth Investment Fund - Capital Youth Investment Fund - Revenue |
Brought forward £ 183,863 110 22,247 8,508 - - - 214,728 |
Income £ - - - 7,379 1,419 42,000 14,538 65,336 |
Expenditure £ - - (511) (10,379) (1,173) - (13,911) (25,974) |
Transfers £ (183,863) (110) - - - (9,500) 9,500 (183,973) |
Carried forward £ - - 21,736 5,508 246 32,500 10,127 70,117 |
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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. The use of the building is not restricted therefore this fund has been transferred to unrestricted funds with effect from 1 January 2023, depreciation for the year has therefore been charged under unrestricted funds.
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. The transfer represents a donor changing their restriction for the expenditure.
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.
OAC Friends
Funding received from OAC friends for specific expenditure including archery equipment, grass sledging and crate stacking.
Youth Investment Fund - Capital
Funding to refurbish and adapt a derelict 300 year old grade II listed cottage and convert to a residential building for groups to use and also refurbish the remainder of the building. The income is received in arrears from the funder. The transfer represents income that was agreed by the funder to be transferred to the revenue fund.
Youth Investment Fund - Revenue
The revenue grant was received alongside the funding towards the capital project, to cover personnel and other administration costs. The income is received in arrears from the funder.
Analysis of movements in restricted funds - previous year
| 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 |
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OAC Buildings
Notes to the financial statements For the year ended 31 December 2023 (continued)
13 Capital project - capital commitments
Capital commitments towards the capital project at the year end were £538,960.
14 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 funds £ 184,210 133,378 317,588 Unrestricted funds £ 10,430 125,329 135,759 |
Restricted funds £ 55,697 14,420 70,117 Restricted funds £ 183,863 30,865 214,728 |
2023 Total £ 239,907 147,798 387,705 2022 Total £ 194,293 156,194 350,487 |
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15 Related party transactions
The following are related parties as the organisations have one or more of the same trustees:
| 2023 | 2022 | |
|---|---|---|
| Total | Total | |
| £ | £ | |
| The Guide Association - Sheffield County | ||
| The following income was received: | ||
| Donations | 7,000 | 15,000 |
| The following expenditure was made: | ||
| Rent payable | 14,000 | 15,000 |
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