Charfty registratlon number 1013246 (England and Wales) Campany reglstratlon number 02733803 OXFORDSHIRE MOTOR PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 'ADYLWP20• 1810312025 COMPANIES HOUSE A07
51
OXFORDSHIRE MOTOR PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Truglees Rae Humberstone Paul Sweeney Camen Hutchinson Nicolas Haudecoeur-wilks Simon Draper Senlor management Peter Wilks Steph Dass Charfty number {England and Wales) 1013246 Company number 02733803 R•gl•t•r•d offl¢• Red Bam Farni Woodstock Road Wolvercote Oxford OX2 8JR Audltor Gra¥ita Audit Oxford LLP First Floor, Park Central 4041 Park End Street Oxlofd OX1 1JD
OXFORDSHIRE MOTOR PROJECT CONTENTS Page Trustees, Foreword Trustees, report Statement of Iru8lee8' re8ponsibililies Independent auditorfs report Staternent of flnanclal actlvlties 10 Balancé sheet 11 Stalement of cash flov 12 Notes to the financial statements 13-25
OXFORDSHIRE MOTOR PROJECT TRUSTEES. FOREWORD FOR THE YEAR ENDED 31 AUGUST 2024 Another year of InCasing student numbers. in part driven by an increasing demand across Oxfordshire. To support the increase, we made a slight change lo the structure by increasing the overall TA role numbers while reducing some senior roles. This has improved our ability to provide Increased 1-1 support. We further increased the TA numbers in the back half of the year to enable us to be ready for the further increase in studenl numbers expected in 24125. Revenues for the year 23124 increased making a positive contribution to reserves. The strategy of increasing TA levels before year-end has enabled us to complete training so the staff ale immedi8tety able to deliver on their required roles. The student numbers for 24125 have indeed increased by 18%. The expectation is that the increase will continue lo the maximum level of capability wlh a small increase in TA staff levels to manage this increase. We are also planning a slighl restructure in first-line management to ensure there is enough support for the increased level ol TA. It should be noted these are not standard TAS but individuals who do not just deliver the course material bul go Ihrough a training PTogTamme in Iherapeulics, mental health and 1-1 care. restraint training as well as the standard package of training we deliver to all members of staff. Polenllal new prefflises have taken a18rge part of management time. The demand lor charity seNices continues lo increase, and the need for new PrnI$e$ is important not just in terms ol numbers bul increasing the supporting seNices. The charity has identified a strong possibility at the start of 23124 and is continuing negotialions with various stakeholders. The charity will conlinue to hold staff and student number8 for the current site untll new premlses are confimed. The plan to bulld on the successful apprenticeship scheme has not Increased at the levels we would have liked, still on plan bul the demandls large. There Is an Increase In management lime to ensure we can deliver Ihe support for apprenticeships. It is expeded we can tum our attention to developing the apprenticeship programme in late 24125 and into 2026 Meeting the demand for these schemes. As part of our growth, the decision was taken lo change the auditor lo Critchleys now Gravila. We have been very pleased by the prolessionalism and support received and look YOard to worf(ing with them in the coming years. Our staff have been, as in the previous years, excellent in their professionalism and in managing some of the county mosl challenging young people. We continue lo invest in training and development in child protection reflected by the posllive outcomes from school compliance visits and Ihe council reviewing our processes. The declsion lo focus on therapeutics and mental health support in the earfy years is delivering measurable improvements, vthich we hope will increase as we build through 11 through to 14. Therapeutics and mental health support continue to be an Important part of the work posl-14. Of nole is the excellent progress across functional skills, which include Malhs and English. Once again, we thank the friends ol the charity for thelr conlinued support whether that be finanaal or advice. Simon Draper Trustee Date.. 26 February.2025
OXFORDSHIRE MOTOR PROJECT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their annual report and financial statemenls for the year ended 31 Augusl 2024. The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present Iheir report with the financial Statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable to chanties pParing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. Objectives and •¢tlvltle8 The objectives of the charity are.. To advance the education and Iralnlng of young people under the age of 20 years wtho. or whose parents reslde In Oxlordshire and the surrounding area and who are struggling with mainstream education or allernalive education provision. In addition, the charity tskes on young people whose circumstances may create tendencies in them towards offences so that such young people may grow to full maturity as individuals and members of society and become better equipped to lake a useful and responsible place in the community. Public benefil The charity exists to serrfe a wide range of young people, at vthat may be difficult and formative times of their lives, lo augment the resources available lo provide appropriate levels of care and support. The trustees confim) that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard for the Commission's guidance on public benefrt. Aehl•vement8 and p•rformanc• Significant activities and achievements 8g8insl objeclives As we move completely clear ol COVID_19 lockdowns, the year accelerated with the number5 of students alongside inveslmenl in slaff for the fulure. This yea¢s accounts demonstrate that ablllty lo deliver lully with increased revenues and a strong conlribulion to reseNes. Cosls have increased, especially for slaff as we buill for 2024125 and Into 2026. The forecast for 24125 and actuals lo December 24 shows further increases in student numbers. The trustee& belleve that the tharity continues lo be in a strong position to meet the challenges of its core dellvery which is to provide growing support lo those young people who are high-risk and vulnerable within Oxlordshire, with holistic support 8nd slruclured vocational courses achieving recognised qualifications. Alongside the increased number of students. the first apprenticeships were successlulty completed. One apprenlice moved on lo lull-time ernployment oulslde of the chanty and the other In the programme Is now employed as a full-1Sme tutor in the blcycle workshop. It Is Important to understand that lo achieve success we have not engaged in hlstoric averages except for key measurements of % of students achieving their exams and Vo of students who gain lull-lime perrnanenl employment, further education or an official apprenliceship scheme. We focus our energy on individuals asking what good looks like for them understanding that that can expand as they achieve milestones in improving mental health. and functional skills and for Ihe first time for many City and Guilds awards for perfomiance. Each studenl has a daity log which enables us not lo focus on the individual short-lerm ups and downs but to gauge the direction ol travel, making slight adjustments on the way. Imien we sil down wilh a student. we don't deal with superficial content bul with a sense of Progress, backed up by specifirA dosing the gap belween what may have seemed impossible. becoming possible. We cannot change the past, but we can influence the future. Flnancial r•vléw The trustees have considered the financial position at the balance sheet date and are satisfied thal the charity is stable with predictable revenues. The Irustees consider that the slrategy that has been put in place over the last five financial years is working and delivering predictable revenues. alongside planned increases in student numbers and increasing diversity. The forecast budget stated growth would be achieved by August 24. The trustees can confirm the plans in place to athieve growth were mel and the long-tenn forecast is for thal grov4lh lo continue into Ihe year ending Augusl 25.
OXFORDSHIRE MOTOR PROJECT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Going concèm The financial statements have been prepared on a going concem basis as the trustees have assessed Ihe position and have no reason to believe that any material uncertainties would affect the ability of the chanty to continue as a goin9 concem for Ihe foreseeable future. The trustees have considered the next 12 months and reviewed posl4ate reports for that period in their assessment. We note the period from September 1st, 2024. to December 31st. 2024, an increase of 25OA in revenues. Reserves policy Unrestricted funds are needed to provide resources that can be assigned to Specific projects to enable those projects to be undertaken al short notice, as well as lo covei ongoing costs of the tharity. vthoUt which the charity could not function. The trustees consider it prudent that unrestricted reserves should be held lo the level of 3 months, salary costs which is budgeted to be £238,000. Currently Ihe unrestricted free reserves is £123,166. Covid- 19 lockdowns restricted ihe capacity which the charity was able to offer to sludents which meant income stagnated whlle costs continued to grow 85 the charrty recruited appropriate staff to support ils work. Following the lifting of these restrictions the charity has returned to Making a surplus and is on target to hit this level of reserves by Q1 of 2026. The IrusteeB' decislon lo move away from a reliance on Trusts and Funds accelerated during the year to more increased revenues with contracts direct with OCC and schools. The move towards Special Educational Needs ISEN) either from OCC or directly with schools is a service that supports the local cornmunity. Plan• lor future perlod• Given the growng demand for our sep4ices, our plans continue to be to increase the services and vocational courses to provbde proven outcomes for young people. In the medium tem that will include moving lo new PTemi5es. As we move into the new year our cash posttion is strong with record numbers of students this year and a planned increase in 24125 We will also See an acceleration of the moving-on scheme that is now taking students beyond their time al the charity as we assist their chances for employment. As part ol that programme, we inlToduced appienticeships and confimied the first two apprenticeships were successful. One left the charity for lull-time employment oulside of the charity and the other is now employed by the charity delivering bicycle City and Guilds courses to young people. We are exlending the apprenticeship scheme over the next two years. The long-lemi strategy of combining mental heallh vth vocalional skills qualificalions and importantly moving on to further education or employment is a proven model lo make a significant difference to young people's lives. 11 is unique model that other counties are interested in replicating through the project. Slructure, governance and management Oxfordshire Motor Project is registered under the Companies Act 2006 as a company Ilmited by guarantee and not having a share capital. Oxfordshire Motor Project is a registered Charity constituted as a limited company under its Memorandum and Articles of Association. The charity registration number is 1013246 (England and Wdles) and the company registration number is 02733803 (England and Wales).
OXFORDSHIRE MOTOR PROJECT TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Recruitmenl and appointment of tmslees The Trustees are also the directors of Oxfordshire Motor Project for the purpose of company law. The charity identifies Trustees from all walks of lrfe. either those who approach us or we approach them. We currenlly have a professor, an Investment Banker. an FD, an ex-Lord Mayor and importantty an ex-attendee as a pupil at Trax in the 905 and now employed by Mercedes. A Gandidate may come from a speafic skill set or a general kn¢)wledge and commitment to the outcomes. Once a candidate has been identified we vffjuld invite them to a trustee meeting limited by stepping oul for sensitive or confidential infomiation. The trustees would lake a vole, and a majorlty would carry a draft pasilive outcome. Check with the candidate if they wish to proceed. Compliance checks, including DBS and conflict of interest checks Letter from Chair confinning requirements and ts'mescale includirw "being a charity trustee. Charity infonnalion pack. Induded in this pack are the crltical policy documents that will need to be read and understood. As part of the training, the new trustees will be qulzzed on thelr understanding and be given a lull set as a Teference point. Complete the Companies House Direclor appolntment whlle finally ensuring the appointment has been logged on the charity commission website. During this process the candidate would spend a few days at the charity witnessing the work that is carried oul in person and by the Ilme they are conflrmed as 8 trustee they would be f8mlliar Yth the processes ol the charty. Org8nisational struclure Overall responsibility for the charity's managemenl rests with the Board of Trustees who are also the charity's directors. The selection of trustees is designed to supplement the existing skills and expertise ol the Board and is govemed by an infomal skills assessment. R•portlng Iln• 202412025 Chair of Trustees (final vote if no majorty on major decisions) Trustees Slrategy is developed by the Truslees and CEO CEO reports lo the Trustees and has direct Ilne responslbllity for Finance, HR. Legal, Compliance and Student Perfomiance within the reporting line. The COO reports to Ihe CEO and has direct responsibility for day-to4ay operations, Studenl Intake, and Risk Assessments, Including lialslng with SEN offlcers Senior Management Role reports to the COO Bar Iwo who reports directly to the CEO but liaises with the COO from time to time. Tutors and TAS report directly to Senior Managers. Other matters Key management personnel Key Management Personnel is considered to include the Chief Executive Officer and Chief Operation Officer. Further information on remuneration is given in note 10.
OXFORDSHIRE MOTOR PROJECT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees review, on an annual basis, the major risks bvhich the charity faces lo ensure that it has sufficient resources in the event of adverse conditions. The trustees have examined the operational and business risks which the charity tsces and confimis that they are satisfied that systems and controls are established over key financial systems to mitigate any significant risks. The major risks facing Ihe charity are around controlling costs and securing long-term premises. The trustees are very aware thal it is essentsal to control costs both around infrastructure and in those arising as a result of the increasing student numbers. Whilst grovrth is good, uncontrolle¢J growth is not. Additionally. the trustees are aware that increasing student numbers and increasing revenue means that it is fundamenlalty important to ensure that organisats'onally the Correct structure is in place in terms of operations, governance and ongoing scrutiny. In the next finanaal year. it will be a prionty lo secure new premises as the charity will need to move in the next 2 to 3 years. These risk6 are at the top of the operations team list, and these are reported on and monllored at every Board meeting. Audltor In accordance wlth thè company's artlcles, a resolution proposing that Gravlta Audit Oxford LLP be reappoSnted as auditor of the company will be put 81 a General Meeting. Dl•clo•ure ol Inlomiallon to audllor Each of the trustees has confimied that there is no infomation of vthich they are aware which is relevant to the audit. bul of which the auditor is unaware. They have further confirmed that they have laken appropriate steps lo identfy such relevant information and lo establish Ihat the auditor is aware of such inlomalion. The charity is registered with Ihe Charity Commission and Companies House as Oxlordshire MotOF Project bul is commonty referred lo by its slakeholders as TRAX Motor Project. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2008 relaling to small companies. Approved by older of the board of trustees and signed on its behalf by.. Simon Draper Trustee Date.. 26 February.2025
OXFORDSHIRE MOTOR PROJECT STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The twslees. are also the directors of Oxfordshire Motor Project for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdoffl Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law requires the trustees to prepare financial statements foi each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for th* year. In preparlng these flnanclal statements, the trustees are required to.. select suitable accounting policies and then apply them consistenlly: observe the methods and principles in the Chanties SORP., make judgement5 and estimates that are reasonable and prudent., slate whether applicable UK Accounting Slandards have been followed, subject to any material departures disclosed and explained in the ffinancial slalemenls., and prepare the financial statemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting recoids that dlsclose with reasonable accuracy at any lime the financial posltion of the charity and enable them lo ensure that the finanaal slalemenls comply with the Companies Act 2006. They afe also responsible lor safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irgUIantie6.
OXFORDSHIRE MOTOR PROJECT INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORDSHIRE MOTOR PROJECT Oplnion We have audited the financial statements of Oxfordshire Motor Project (the 'charity') for the yeaf ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the slalement of cash flows and notes to the financial statements, including significant accounting policies. The finanual repov*'ng frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Finanaal Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of I18nd (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial stalements.. glve a true and falr view of the stale ol the charltable company's affairs as 01 31 August 2024 and of its incoming resources and application of SourCeS. Induding Ils income and expenditure, for the year then ended., have been properfy prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wilh the requirements of the Companies Act 2006. 8asls for oplnlon We conducted our audit in accordance with Inlemalional Standards on Auditing (UK) IISAS IUKII and applicable law. Our responslbililies under those slandards are fvrther described in the Audilofs responsibilities for Ihe audil of the fin8nci81 slatements section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance wilh these requiTemenls. We believe that the audit evldence we have obtained Is sufficient and appropriale to provide a basi5 lor our opinion. ConcluBlon8 relailng to golng eoneem In audiling the financial slalemenls. we have conduded that the trustees, use of the going concern bas15 Of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have nol Identrfied any materlal uncert8inlies relallng to events or conditions that, individually or colleclively, may casl significant doubt on Ihe chanty's ability to continue as a going oncem for a period of at least trrtelve months from when the financial statements are authorised for issue. Our responsibilities and Ihe respon$ibllllies of the trustees wlth respect to going concern are described In the relevant sections of this report. Other Infomiatlon The other infomiation comprises the information Included in the annual report other than the financial statements nd our auditorfs report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other inlormation and, except to the extent otheréiise explicilty slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the olher infornialion and, in doing $0, consider whether the other InfoallOn is malerial inconsi5tenl with the financial statements or our knowledge obtained in the course ol the audit, or otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether this gives rise lo a material misslatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this olher information, we are required to report that fact. We have nothing to report in Ihis regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on Ihe work undertaken in the course of our audit.. the information given in the truslees, report for the financial year for vthich the financial statements are prepared, which includes the d1CtOrS. report prepared for the purposes of company law, is consistent with the financial slatements.. and the directors. report included wthin the trustees. report has been prepared in accordance wth applicable legal requirements.
OXFORDSHIRE MOTOR PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OXFORDSHIRE MOTOR PROJECT Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit. we have not identified material misstatements in the directors, report included Vthin the trustees, report. We have nothing to report in respect of the following matter$ in relation to which Ihe Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting Tecords have not been kept, or retums adequate for our audit have not been received from branches not visited by us., OT the financial statements a not in agreement with Ihe accounting records and returns,. or certain disclosure8 ol trustees. remuneration specif ed by law are not made: or we have not received all the information and explanations we require for our audit., or the trustees were not entilled lo prepare the financial statements in accordance wllh the small companies regime and tske advantage ol the small companies, exemptions in preparin9 the tfUStees' report and from the requlremenl lo prepare a strategic report. Respon8lbllltles of trustees A$ explained more fully in the stalement of truslees. responsibilities, the trustees. who are also the directors of the charity for the purpose of company law, are fesponsible for Ihe preparalion of the financial statements and for being salisfied that they give 8 Irue and fair view, and for such intemal control as the Irustees determine is necessary to enable the preparats'on of financial slalements that are free from material mlsslatement, whether due to fraud or error. In preparing the financial statements. the trustees are fesponsible for assessing the charity's ability lo ontinue as a going concem, disclosing, as applicable, matters related to going concem and using the going concern basis ol accounting unless Ihe Irustees eilher intend lo liquidate the chantable company or to cease operations, or have no re81islic allernallve but lo do so. Audltofs re8ponslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a vthole are free from material misstalemenl, whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guar8ntee Ihal an audit conducted in accordance wilh ISAS (UK) will always delect a material misstatement when it exisls. Misslatemenls can arise froffl fraud or error and are considered matenal if. individually or In the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. The extent to which our procedur88 are capable of detecting irregularities, including fraud, is detailed below. the engagement partner ensured that the engagernent team collectively had the appropriate competenGe, capabilities and ski115 to identify or recognise non-compliance applicable laws and regulations., we identified the laws and regulations applicable lo the company through discussions wilh directors and other management. and from our knowledge and experience. we focused on specrfic laws and regulations which we consSdered may have a dlrect material effect on the financial Statements or the operations of the company., we assessed the extent of compliance with the laws and regulations idenlified above through making enquiries of management and inspecting legal correspondence where applicable,. and identified laws and regulations were communiGated within the audit team regularly and the team remained alert to instances of non-compliance Ihroughoul the audit. We assessed the susceptibility of the company's financial statements to material misstalemenl, induding obtaining an understanding of how fraud might occur. by.. making enquiries of managemenl as to where they considered there was susceptibility lo fraud, their knowledge of actual, suspected and alleged fraud.. and considering the intemal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
OXFORDSHIRE MOTOR PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OXFORDSHIRE MOTOR PROJECT To addre55 Ihe risk ol fraud Ihrough management bias and override ol controls, we: performed analytical procedures to identify any unusual or unexpected relationships., tested journal enlries lo identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting esllmates were indicalive of potenlial bias., and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance wrth laws and regulations. we designed procedures which included, but were not limited lo.. agreeing finanual statement disclosures to undertying supporting document8ts'0n', reading the minutes ol meetings of those charged with governance., enquiring of managemenl as lo actual and polenlial litigation and Glaims. viewing relevant correspondence. There are inherent limitalions in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance, Auditing $18ndards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. A further degcriplion of our responBibililles is avalloble on the Financlal Reporting Council's web511e at.. https.'Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditoes Port. Other m•tter4 The comparative figures are unaudited. Use of our report This report is made solety to the charilable company's members, as a body, in accordance wilh Chapter 3 of Part 16 olthe Companies Act 2006. Our audil work h8$ been undertaken so th81 we might stsle lo the charilable company's members those matters we are required lo state lo Ihem in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and the charSlable company's members as a body, for our audlt Wofk, lor this report, or for the opinions we have fomied. Katherine Wilkes (Senior Statutory Audllo For and on behalf of Gravita Audil Oxford LLP, Statutory Auditor Chartered Accountants First Floor. Park Central 4(k41 Park End Street Oxford OX1 1JD Date.. 14 March 2025
OXFORDSHIRE MOTOR PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Restated Total Unrestricted Restricted funds funds 2023 2023 Restated Total Unrestrieted Restrlcted funds funds 2024 2024 2024 2023 Not•$ Ineome from: Donations and legacies Chantsble aclivitles Investments 2,350 1,094,046 42 10,000 25,181 12.350 1,119.227 42 6,881 896,888 209 13,949 40,060 20,810 936,946 209 Total Income 1,096,438 35.181 1,131.619 903,95e 54,009 957,965 Expendlture on: Charitable aclivities Other expenditure 1,054,733 33,321 1,088,054 852.551 718 43,995 896,546 718 11 Total expendltur• 1.054,733 33,321 1,088,054 853,289 43,995 897,264 Nel In¢om• 41,705 1,860 43,565 50,687 10,014 60,701 Transfers belween funds 21,326 121,326) N•t mov•m•nt In funds 63,031 {19,466) 43,565 50,687 10,014 60,701 Reconclllatlon of funds: Fund balances al 1 September 2023 166,116 27,571 193,687 115,429 17,557 132,986 Fund balances at 31 August 2024 229,147 8,105 237,252 166,116 27,571 193,687 The statement of financial activities includes all gains and105ses rewgnised in the year. All income and expenditure derive from continuing aclivilies. The prior year expenditure has been restated to splll out £718 loss on disposal into other expenditure tnslead .of tharitable activities. The net effect on the Slaternenl of Financial Activities is £Nil. 10-
OXFORDSHIRE MOTOR PROJECT BALANCE SHEET ASAT31 AUGUST 2024 2024 2023 Note8 Flxed assets Tangible assets Inveslments 13 14 114,085 115,938 114.086 115.939 urrent a8set• Debtors Cash at bank and in hand 15 176,405 40,857 103,869 64,584 217,262 168,453 Creditors: amounts falllng due wlthln one year 16 (94,096) (90,705) Nel current assetg 123,166 77.748 Tots14•••ts l••• ¢urr•nt Il•bllltl•• 237,252 193.687 The lunds ol th• Charlty Reslncted income funds Unrestricted fund5 8,105 229,147 27,571 166,116 19 237,252 193.687 The financlal statements were approv8d by the tNstees on ..%F..F.otsr.M4rY.2025 Slmon Draper Trustee Company registration number 02733803 (England and Vrfales) 11
OXFORDSHIRE MOTOR PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operatlng aclSvities Cash (absorbed by)Igenerated from operatlons 24 (8.607) 14.498 Investing activilie5 Purchase of tangible fixed assets Investment income received (15,162) 42 (11,329) 209 Net c•sh used In Investlng actlvitie$ (15,120) (11,120) N•t cash generaled from Ilnanclng actlvltles Net {decrea8eylncrease In cash and cash equlvalents (23,727) 3,378 Cash and cash equlvalenls al beginnlng of year 64,584 61,206 Cash and cash equivalents at end of year 40.857 64,584 12
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcie• Charity inlorniation Oxfordshire Motor Project is a charitable company limited by guarantee incorporated in England and Wdles. The registered office 18 Red Bam Farm, Woodstock Road, Wlolvercote, Oxford, OX2 8JR. 1.1 Accounling conventlon The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, the Charities and Trustee Investment {Scolland) Act 2005, the Chanlies Accounts (Scotland) Regulation5 2006 las amended), FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. {"FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance wlth the Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021" {effective 1 January 2019). The Charty is a Public Benefit Entity as defined by FRS 102. The finanaal statements are prepared in sterling. which is the functional currency of the chanty. Monetary amounts in these financial statements are rounded to the nearest £. The financial slatemenl8 have been prepared under the h18torical co81 convention wllh the exception of investments which are included at market value. The principal accounting policie5 adopted are set out below. 1.2 Going concom At the time of approving the financial $tatement$, the trustees have a reasonable expeclatlon that the charity has adequate Tesources to continue in operational existence for Ihe loreseeable future. Thus the trustees continue to adopt the going concem basis of accounllng in preparing the financial statements. 1.3 Charltable funds Unrestricted lunds are available for use at the discretion of the trustee5 in furtherance of their charitable oblecllves. Restricted lunds are subject lo specific conditions by donors or granlor5 as to how they may be used. The Pufposes and uses of the restrlcted funds are set out In the notes lo the financi81 slalements. 1.4 Income Income is recognised when Ihe charity is legally entitled toll after any perfomiance conditions have been met, the amount6 can be measured rellably. and It is probable that Income wlll be recelved. Cash donation$ are recognised on receipt. Other donations are recognlsed once the charity has been nolified ol the donats'on, unless performance conditions require delerral of the amount. Income tax recoverable in relats'on lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donalion. Course fees are recognised in the academic period to which they relate. Income from grants (including govemment grants) is recognised in the period in which the teaching is performed. as the 5eryice is delivered, using the performance model as per FRS102. Grants are not fecognised unlll there Is reasonable assurance that the charity will compty wllh the conditions attached to them. Where the granl imposes perfomiance-related conditions, il is recognised only when those conditions have been met. Where grants are received prior to satisfying the revenue recognition criteria, they are recognised as a liability. 13-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles (Continued 1.5 Expendlture Liabilities are reeognised as expenditure as soon as there is a legal or constructive obligalion commilling the charity to that expenditure, il 15 probable that a transfer of economic benefits wll be Tequired in settlement, and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been dassified under heaolings that aggregate all cost related to the category. IM)ere costs cannot be directly attributed to Pa'CUlar headings they have been allocated to activities on a basis consistent with the use of resources, All expendtlufe is recognised inclusive of VAT. Expenditure on charitable activities includes those costs incurred by the chanty in delivering its activities and includes bolh direct and allocated support costs. Governance costs includes those costs assoclated with meeting the slatulory requirements of Ihe charity. 1.6 Tanglble flxed as8et8 Tangible fixed assets are Initlally measured al cosl and subsequently measured at cost or Valuation, net of deprec18tlon and any Impalrment losses. Depreciation is recognised so as to vffite off the cosl or valuation of assets less their residual values over their useful lives on the followng bases.. Leasehold lrnprovernenls Plant and equipment Fixtures and fittings Motor vehicle5 Cabins 10% stralghl Ilne 15% straight line 15Vo straight line 25% reducing balance 5% straight line The gain or loss arising on the disposal of an assel is determined as the difference behveen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Flxéd 0g••t Investments Fixed asset investments are measured at cost. 1.8 Impalm)ent ol fixed assets At each reporting end date, the charity revlews the urrying amounts of its langible assets lo detennine whether there is any indicats'on that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimaled in Order lo determine the extent ol the impaiment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposlts held at call with banks, other short-term liquid nve81ments with original matunties of three monlhs or less, and bank overdrafts. Bank overdrafts are shown within borrowings in cuent liabilities. 14-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Aceountlng pollcles (Contlnued) 1.10 Flnanclal Instrum•nts The charity has elected to appty the PTovisions of Section 11 'Basic Finanual Instruments, and Seclion 12 'Other Financial Instfumenls Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in Ihe charty'5 balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and Ilabilities are offset, wth the net amounts presenled In the financial statements, when there is a legalty enforceable right to sel off the recognised amounts and there is an intention lo settle on a net basis or to realise the assel and settle Ihe liability simultaneously. 8aslc financial assets Basic financial assets. ¥¥hich indude deblors and cash and bank balances. are initially measured at transaction price including tran$adion costs and are subsequently camed at amortised cost using the effective Interest method unless the arrangement constitutes a financing transacts'on, where the Iransaclion is measured at the present value of the future receipts discounted at a fflarkel rale of interest. Financial assets classified as receivable thIn one year are not amortised. Basic financial liabilities Basic financial liabilities. indudlng credltors and bank loans are inilialty recognised at Ifansaction prlce unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured al the present value ol the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amorti5ed. Debl inslrumenls are subsequentty carried al amortised cost, uslng the efféctlve inleresl rate method. Tradè creditors are obligalion8 to pay for good8 or services that have been 8cquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabllities if payment is due wilhin one year or less. If not, they aTe presented as non-currenl liabililies. Trade creditors are recognised inilialty al transaction price and subsequenlly measured at amortised cost using the effective interest method. Derecognltlon of Ilnanclal Ilabllltles Financial liabilities are deTecognised when the ch8nty's contractual obligations expire or are discharged or cancelled. 1.11 Employee beneflts Terminalion benefils are recognised immediately as an expense when the charity is dernonslrabty committed to temiinate the employment of an employee or to provide temiination benefrts. 1.12 R•tlr•m•nt beneflt• Payments to defined contribution retirement benefit sGhemes are charged as an expense as they fall due. 15-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Critical accounting eslimates and judgements In the application of the charity's accounting policies. the Iruslees are required to make judgements, estimates and assumptions about the carrying arnounl of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may drfer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe eslirnale is revised where the revision affects only that period, or in the penod of the revision and future periods where the revision affects both cuffent and futUTe penods. Depreciatlon This Is an eslimale based on the useful economic life of flxed assets. Thls Is applied as desixlbed In the fixed assets policy. The amounl of depreciatson for the reporting period is £17,01512023'. 18,602> Bad debtor provl$lon This18 an estimate on whal outstanding debtor8 at year end are unlikely to be received. This is calculated by reviewing the age of deblors and the specific circumstances sum)unding the debtor. The amount provlded for at year end is £012023.. £29,680) Accrued exp•n•e• These are expenses that relate lo the reportin9 perfod bul are recelved after the p8tiod ands. This is calculaled by reviewing invoices received after the year end and using managements knowledge ol the costs occurring in the year. The amount accnjed al year end is £36,093 (2023.. £51,341> Income from donatlons and lega¢le8 Unrestrlcted Restrlcted lunds funds 2024 2024 Total Unr•strltled R•strfcted funds funds 2023 2023 Tolal 2024 2023 Donations and gifts 2.350 10.000 12,350 6,861 13,949 20,810 In¢om• from eharllabl• actlvltlos Unrestvlcted Restricted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Charitable activities Grants Course fees 25,181 25.181 1,094,046 40,060 40.060 896,886 1,094.046 896,886 1,094,046 25,181 1.119.227 896.886 40.060 936,946 16-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from eharitable activlties (Continued) The grant received in both Ihe cUTnt and the comparative periods is from Response Organi5ation. All monies relate to educational and training programmes. There are no unlulfilled conditions or olher contingencies attachlng to these granls at the balance sheet dale. The charty has nat directly benefit from any other lorm$ ofgovemment assistance. Incom• Irom Inv•stments Unrestrlcled Unre$lrlcted funds funds 2024 2023 Interest receivable 42 209 Expenditure on charitable acllvltl•s Re8tated Total 2023 Total 2024 Dlrect costs Staff costs Depreciation and impaimient Programme expenses Sludenl travel Sile maintenance 846.291 17.015 63,610 18,942 10,945 22,975 32,982 17,395 661.885 18,062 57,343 1,499 8,345 20,091 34,057 10,571 Rent and rates Staff training and other expense$ 1,030.155 811,853 Shar• of Support and govemanc• costs (see not• 71 Support 57.899 84.693 1,088,054 896,546 Anatysis by fund Unreslrlcted funds Restrided funds 1,054,733 33.321 852,551 43,995 1,088.054 896.546 17-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Expendlture on charltable acllvltl•¥ (Conilnued) The charitable activities has been restated from the prior year for this note. The prior year accounts note didnl agree to the slatemenl of financial activities. The amount of non-staff costs has changed from £220,379 to £234,571. The costs have been split differently to the prior year lo better reflecl the nature of the charities acts'vilies. In addition £718 composed of loss on disposals has been split out into the Other Expenses note. The net Impact on the SOFA is £Nil. Support costs allocated to actlvltles 2024 2023 Professional fees Admin costs Sundry costs Provision movements 29,580 33,899 2,828 {8,408) 14,099 36.995 3,751 29.848 57.899 84.693 Analysed between: Total 57,899 84,693 N•t mov•m•nt In fund• 2024 2023 The net movernent in funds is stated after chargingl(crediting)'. Fees payable for the audlt of the charty's financlal statements Depreclation of owned tangible fixed assets Loss on disposal of tangible fixed as5els 9,7SO 17.U15 18.062 718 Trustee• None ol the Injslees (or any persons connected wilh them) received any remuneration or benefits from the charity during the year except for as disclosed in the related paty transactions note. No trustees were reimbursed for expenses during the year. {2023.' None> 10 Employ••• The average monthty number of employees during the year was.. 2024 Number 2023 Number Staff on dlrect charitable work Administrative staff 28 23 Totsl 31 26 18-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Employ••s {Contlnued) Employment costs 2024 2023 Wages and salaries Social security cost$ Other pension costs 779,005 55,352 11,934 605.312 45.605 10.968 846,291 681.885 Redundancy and lermlnation payments totalling £4,379 were made in the reporting period. Ex-gratia payments totalling £9.552 were rnade In the reporting period. The number of employees whose annual muneration w8$ More than £80,000 is as follows.. 2024 Number 2023 Numb•r Remuneratlon of key management personnel The remuneration of key management pefsonnel, Includlng employer Nl and penslon costs, was £131,163 {2023.' £123,381) 11 Other •xpendlture Unrestrlcted Unrestricted funds lunds 2024 2023 Net loss on dlsposal of tangible fixed assets 718 12 Taxatlon The charity Is exempt from taxation on its aclivrties because all its income Is applied for charltable purposes. 19-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 AUGUST 2024 13 T•nqlbkn Ilx•d ••••ts Lo•••hold nd•1 Impro¥rnont• nI1clin Pl•Trt•nd •qulprrM Alotoi ¥•hl¢l•• C4bln• Total Co•t Al I S•pi•mb•r 2023 Addllions 0,017 81.542 6,795 7,289 28,865 600 87,858 211,571 15.162 5,183 Al 31 Augus12024 6.017 5.183 8.337 9.873 29.665 87,858 226.733 D•pr•¢l•tlon •nd Imp•lfm•nt Al 1 September 2023 O•pf•¢knlbn ¢h•rgad h lh• y••r 50,320 9,234 1.878 1,451 21.773 1,973 21.174 3.755 85.633 17.015 At 31 Augyll 2024 1.2B9 59,554 3.130 23.748 24.920 112.846 C•rrylng amount At 31 Augu¥l 2024 4,728 5,183 28,763 6,$43 8.919 62.929 114.08$ Al 31 Augu812023 5,330 31,222 5,610 7,092 e8,664 115,938 -20-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 14 Flxed asset Inve$tment• Other Investments Cost or valuation At I September 2023 & 31 August 2024 Carying amount Al 31 August 2024 Al 31 August 2023 2024 2023 Other inveslments comprise: Note8 Investments in subsidiaries 23 15 Deblors 2024 2023 Amounts lilllng due wlthln ono year: Trade debtors Amounts owed by fellow group undertakings Other debtors Prepayrnenls and accrued income 135.597 1.983 6,491 32,334 72,103 1,983 331 29.452 176,405 103,869 16 CredStor4: amounts falllng due wlthln on• year 2024 2023 Other taxation and social security Trade creditors Other ¢ditorS Accnjals and deferred income 16,498 4.750 21,508 51,340 19.562 3,271 4.165 63.707 94,096 90,705 17 Retlrement benefit schemes 2024 2023 Defined contrlbullon schemes Charge to profrt or Ioss ID respect of defined conlribution schemes 11,934 10,968 21
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 17 Retirement benefit schemes Icontihued The charity operates a defined contribution pension scheme for all qualifying employees. The as5els of the scheme are held separatety from those of the chanty in an Independently administered fund. 18 Rèstricted fund8 The restricted funds of the charity comprise the unexpended balances of donalions and grants held on trust sublecl lo specific condilions by donors as to how they may be used. Incomlng resources Resource$ expended Transfers At 31 August 2024 September 2023 CAMHS Hartey Davidson Mlnlbus Garden project 81ake Morgan Dyslexic Other Gym equipment Other Te5tricted fixed assets 13,614 25,181 10,000 {20.429) (10,000) (18,366) 1,991 754 1,000 2,729 215 7,268 (1.991) 1754) 11,000) {891 (2,640> 1215} 11,4071 1396) 5.861 2.244 2,640 27,571 35,181 (33,321) (21,326) 8,105 Prevlou• y••r: At1 September 2022 Incomlng resources R••ource8 expènded Transfern At 31 August 2023 CAMHS Harley Davidson Minibus Garden project 81ake Morgan Oyslexic Other Gym Equipment 5.391 40,061 10,000 (31,8381 (10,000) 13,614 1,991 754 1,000 1,991 754 1,000 2.729 215 7,268 2,729 1,219 215 8,206 11,219) (938) 17,557 54,009 (43,995) 27,571 CAMHS - This was funding received to pay for the wages of an employee and a550ciated costs. Harley Davidson -Thls was funding for workshop expenses. Minibus -This was funding to pay for maintenance and fuel costs of a minibus. 22-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 18 Restrlcted funds (Conllnued) Garden project- This was lunding to build a garden plot B18ke Morgan - This was fvnding for the provision of education to children In the parlsh of Holy Trlnty church, Headinglon auary Dyslexic Teathing Supplies Dyslexia. This was funding given for the teaching supplies to support children with other- Thls was Tundlng given by small donors for individual projects ihal have been completed Gym Equiprnenl - This was gym equipment donated lo the charity. The expenditure 8550cialed 15 the deprecation. Other reslri¢led fixed assets This is other restricted fixed assets that have been purchased using restricted fixed asset funds. The expenditure associated is the tjepreciation. 19 Unrestrlet•d fund4 The unrestricled funds ol the Gharity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designaled funds which have been set aslde out of unrestricted lunds by the truslees for specific purposes. At1 S•ptember 2023 Incomlng rn8ources Rejources expènded Transfers At 31 August 2024 General funds 166,116 1,096,438 (1,054,733) 21,326 229,147 Provlous y••r: Al1 September 2022 Incomlng Resource• resources expended Tran•fer• At 31 August 2023 General funds 115,429 903,956 (853,289) 166.116 20 Analys4s of net agsets between funds Unrestrlcted funds 2024 Restrl¢ted funds 2024 Total 2024 At 31 August 2024: Tangible assels Investments Current asselsl(liabilllies) 105,980 8,105 114.085 123.166 123,166 229,147 8,105 237,252 -23-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Analysis of net assets between funds (Continued) Unrestrlcted funds 2023 Restricted nds 2023 Total 2023 Al 31 August 2023: Tangible assets Investments Current a55etsl(liabililiesl 108.670 7,268 115,938 57.445 20,303 77,748 186,116 27,571 193,687 21 Operallng lease commltments Lessee At Ihe reporting end dale the charity had oulstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 thin one year 18,342 22 Related party transaction$ Durlng the year Peter Wlks, who 15 the father of a Trustee, was employed by the charlty. He was pald al market rate ol remuneration for his role. Durlng ihe year Matthew Haudecoeur-wlks, vtho is the brolher of a Trustee, was employed by ihe tharity. He was paid al a market rate of remuneralion for his role. Ouring the year Kleran Da5s, who is the son ol a Key Management Personnel IKMP), was employed by the charity- He was paid al a market rale of remuneration for his role. During the year Nathan Price, who is the son of a KMP, was employed by the charity. He was paid at a marf(et rale of remuneration for his role. During the year Leah Dass, who is the daughter of a KMP, was employed by the tharity. She was paid al a markel rate of remuneration for her role. During the year Ajay Dass, who is the husband of a KMP, was employed by the charity. He was pald at market rate ol remuneration for his role. -24-
OXFORDSHIRE MOTOR PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 23 Subsidlarfes These financial statements are separate charity financial statements for Oxlordshire Motor Project as at 31 August 2024. Details of the chanty's subsidiaries at 31 August 2024 are as follows.. Name of und•rtaklng Regl$t•red office Nature of buslne8S Class ol % Held shares held Direct Indirect Traxse Limiled Red Bam Farm. Oomiant Woodstock Road. Wolvercole, Oxford. OX2 8JR 100.00 24 Cash labsorbed byvgenerated from operallong 2024 2023 Surplus for the year 43,565 60,701 AdJu•tm•nt• for: Investment income recognised in stslement ol financial activities {Gain)Aoss on disposal of tangible fixed assets Depreciation and impaiTmenl of lan9ible fixed a5sels 142) (209) 718 18.062 17,015 Mov•ment• In worklng c•pltal: (Increase) in debtors Increasel(decrease) in creditors <72.5361 3,391 (54,0181 110,7561 Cash (absorbed byygenerated from operation• (8,607) 14,498 25 Analysls ol changes In net fund8 The charlty had no materlal debt during the year. 25-