Regislered number: 02806113 Charity number: 1019915 OPEN ROAD VISIONS (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
OPEN ROAD VISIONS (A company limited by guaranlee) CONTENTS Page Reference and adminislrative delails of the Company, its Trustees and advisers Trustees. report Independent auditors, report on the financial statements Consolidated slatemenl of financial activities 2-11 12- 16 17 Consolidated balance sheel 18-19 Company balance sheet Consolldaled statemenl of cash flows 20-21 22 Noles lo the financial statements 23-55
OPEN ROAD VISIONS (A company limiled by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Truslees J F Aldridge. Retired County Councillor N K Alston, CBE, DL, Retired Senior Civil Servant S D Bhima, Medical Praclitioner C Dollery, Medical Practitioner T Field, Solicitor R Kilvinglon, Company Director and Surveyor (resigned 28 June 20241 Y M Larkin, HR Director (resigned 2 October 2024} J Lawson, Police IT Director M Mears, Chartered Accountant S Shah, Marketing and Communications Executive N South, Academic Prolessor Company registered number 02806113 Charity registered number 1019915 Registered and prlncipal 12 North Hill olfice Colchesler Essex C01 1DZ Senior leadership team Mrs S Wright Mrs A Trudgian Mrs J Thompson Chief Executive Operations Director ClinicallBusiness Development Director Company secrelary M Mears Chief executive off icer S Wright Independent auditors Griffin Chapman Chartered Accountants 4&5 The Cedars Apex 12 Old Ipswich Road Colchester Essex C07 7QR Bankers Barclays Bank PIC 9 High Street Colchester Essex C01 1DA Solicitors Fisher Jones Greenwood LLP Charter Court Newcomen Way Colchesler C04 9YA Page 1
OPEN ROAD VISIONS (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the audiled financial statements of the Company for the 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees, report and a direclors, report under company law. The Trustees confirm that the Annual report and financial slalements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice {SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Open Road is an established Drug and Alcohol Recovery support charity in Essex and Medway. Open Road principally provides services to support individuals on their journey to recovery from drug and alcohol addiction. Obleciives and activities a. Aciivities undertaken to achieve objeclives In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. including the guidance 'Public benefit: running a charity IPB21'. Our mission is to empower a diverse range of individuals, families, and communities lo lead healthy and more meaningful lives, free from addiction. offending behaviour and disadvantage. Key activities., Commission drug and alcohol support for adults and young persons Essex Appropriate Adult service SOS community buses Employment services Our community consists of our slaff, our service users, volunteers, trustees. partners. and visitors. We treat each other with consideration and respect. regardless of people's appearance, background or personal circumstances. b. Our Patrons and Trustees our Patrons are amazing ambassadors for the Open Road and they conlinue to support us in a number of ways. We were delighted to have a new Patron join the team this year. Kirsty Toner's mother was a client of our Medway services bul sadly died in 2024. Kirsty was so appreciative of the service our slaff gave her mother Stella, that she became a greal ambassador for us and agreed to become one of our Patrons. Kirsty has already done some amazing fundraising for us running ihe London Marathon, at the StellaFest Event in Medway raising over £6,000 and in obtaining support for us from John Lewis in Bluewater, along with media interviews promoting our services. Our Trustees. another of our amazing groups of volunteers, support the whole organisation with their governance skills and guidance which include all aspects of finance: HR, clinical governance, audil and risk, health and safety, premises and facilities. We can't thank them enough for all they do to support the operational teams. This year we have introduced two new sub-committees of the Board, which are Audit and Risk Sub- Committee and Premises and Facilities Sub-committee. which we fell, with our expansion. were vital to ensure that we covered these areas of potential risk. Page 2
OPEN ROAD VISIONS (A company limited by guaranlee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities (continued) c. Volunteers We remain hugely grateful to the many volunteers for their commitment to Open Road. Following COVID fewer people have been coming forward to volunteer their time in the various services we provide, particularly on our SOS buses and in the Appropriate Adull services. We believe this is a result of the cost-of-living crisis, wilh many of those who were previously willing to volunteer their time needing secure employment opportunities. Refreshing our 'offer' to volunteers is now a strategic priority- We currently have over 110 volunleers offering their time on various projects. d. Main activilies undertaken to further the Company's purposes for Ihe public benefit As a charitable organisation, we are proud of what we do with the help of our volunteers and all those who make a positive difference by supporting our fundraising events throughout the year. We expanded many of our existing services during the year and we were also delighled to be awarded some new contracts. Strategic report Achievements and pertomiance a. Introductlon from Ihe Chief Executive and Chalr of Trustees On behalf of the Trustees and Senior Leadership Team (SLT) of Open Road we are delighted once again to introduce the charity's Annual Review. We would like to thank all our slaff leams. volunteers, funders. supporters and our Pairons for their continued dedication and support throughout the year. It has been a year of furlher encouraging growlh and success as we reached the end of our 2020 - 25 strategy. We are proud to have achieved all we set oul to do and much more over this period, despite many challenges along the way. This has only been possible thanks to the commitmenl, delermination and hard work from all our staff, volunteers and Trustees. Having just launched our new five-year strategy, we now look forward to the next five years leading lo our 401h anniversary in 2030, with a continuing commitment to support more individuals and families who need our services. We acknowledge there will be challenges along the way, but our focus remains on those we support and being able to respond flexibly to their needs providing exceptional. high-quality services. We end the financial year 31 st March 2024125 in a strong financial position enabling us lo look fOard with confidence to delivering outstanding services to all those we support. b. Main achievements of the Company We remain committed to developing and extending services where they can address the needs of those we seek to serve. We have expanded a 'dependence forming medication, service {DFMI into North Essex successfully receiving Public Health Accelerator Bids (PHAB) funding lor this work. This is in its early stages but we hope to develop this further to other geographic areas in which we work. We continued to seek efficient and fit-for-purpose premises. In Medway, we moved our young people's service Page 3
OPEN ROAD VISIONS (A company limiled by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Strategic report (continued) Achievements and performance (continued) to our Recovery Service site in Chatham High Street to bring the leams iogelher and streamline our operalions. Our new site in Harlow's Harvey Centre became operational during the year and is now fully functional. Our development in digital services continues to grow and we now have 24 on-line chat services. By integrating technology inlo our operation we are able to provide more accessible responsive and inclusive support for individuals, families and the communities we serve enabling support to be available whenever and wherever it is needed. During the year we gained reaccreditation in ISO 9001, Cyber Essentials, and recently Investors in People1SlP}. We also compleled an external evaluation of our services, which produced some very positive client success stories and reinforced the added social value that Open Road brings to the communities in which we Work and the cost savings we bring to public funding. Fundraising events have included quizzes, people running marathons, skydives, joining in with Sanla's sleigh ride in Colchesler, a Charily Ball, a reading of 'A Christmas Carol,, a 'Flourishing Minds, afternoon at Beth Chatto Gardens, a curry night wilh Neil Coyle MP and many more, all bringing in much needed unrestricted fLJnds to support our core services. The biggest challenge we faced during the year - and ongoing - is the increase to employers, National Insurance Contributions (NIC). which, with Ihe rise in the minimum wage increase, will impact significantly on Open Road. We fully supporl the minimum wage increase, but the NIC increase seems somewhat untair on an organisation like Open Road which supports the NHS, and indeed alleviates the burden on the NHS, which ilself is exempt from the increase. The impact lor us is over £100,000 per annum, which we have to find lo continue our work. Running costs have increased year on year, but we continue to seek efficiencies and to streamline all operations where we can, such as in Ihe amalgamation of our two services in Medway as mentioned above. Recruitment and retention of slafl and volunteers will remain a concern which we try to address through offering excellent training, development and additional benefits lo encourage new slaff and volunteers and to retain the excellent people we already have. We are committed to working lowards net zero with environmental largets. but again, this costs time and money to achieve. However, we have already commitled to many areas to reduce our carbon foolprint and will continue to do so over the coming years. c. Review of activilies Contracts We expanded many of our existing services during the year and were also delighted lo be awarded important new contracts. These included: The direct award of the AARCS (All Age Recovery Co-ordination Service) contract for Essex which we had delivered lor the previous 7 years in partnership with TCS (The Children's Society}. This is for a further 5 plus 2 years. The PAIRS {Psychosocial Alcohol Intervention Recovery Service} contracl for Essex - again another 5 plus 2 years. The Military Corrective Training Centre contract extension for a further year to November 2026. The Essex Appropriate Adult Service contract, which we had been delivering for over 10 years, now awarded for a further 5 years. Page 4
OPEN ROAD VISIONS (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Slrategic report (continued) Achievements and performance (continued) An expansion of services across Soulhend, Thurrock and Medway young people's seNices and in our Essex and Medway adult services. We have also received funding for a new smoking cessation service across Essex, including advice and support for young people around vaping. Partnerships Our partnership work is well regarded parlicularly by commissioners in Essex County Council. Thurrock. Medway and Southend. Our long-term partnership with The Children's Society continues to be strong and supportive and we partnered with them again for the new PAIRS alcohol contract. Our partnership with Forward Trust remains strong and supportive across our work in Soulhend. Medway and Thurrock and we continue lo work with them on potential new opportunities. In Medway, in partnership with Oasis Restore and Central & North-west London NHS Foundation Trust (CNWL), we commenced delivery of specialist substance misuse interventions in the first new Secure School in England. Although in its infancy, this is seeing many successes for young people in secure environments. We continue lo work in partnership with Essex Partnership University NHS Foundation Trust {EPUTI, our prescribing partners across all of our Essex sites and this continues from the Derwenl Centre at The Princess Alexandra Hospilal in Harlow. The Open Road SOS Buses The work of our SOS buses supporting the nighttime economy continues in partnership with Remote Medics. However, the buses have expanded their work with heath partners across the county, particularly in North Essex thanks to additional PHAB funding. This sees the buses out in rural communities supporting individuals who would otherwise find il hard to access primary health services. We are able to offer a number of additional services including health checks for high blood pressure, weight management, leg ulcers and many other screening services. Our Management Our new management structure is working well to support the growth of Open Road and strengthening the infrastructure of the organisation. We have invested in the management team with additional training and coaching from an external coach, Paul Jeff ries, of Pebble Associates {UK} Limited, a business transformalion consultancy, who is helping to develop the team and looking forward at succession planning. Equality, Diversity and Inclusion We continue to develop our understanding of, and commitment to equality, diversity and inclusion in all aspects of our work, including our leams of staff and volunteers and particularly those who access our services. We want to ensure not only that we eliminate any discrimination but also that we can be truly representative of all sections of society in the areas we work. We are determined Ihat service users, slaff and volunteers feel respected and are given every opportunity to give their best. Our aim over Ihe coming years is lo break down the stigma of drug and alcohol use particularly in under-represenled groups within our communities. Page 5
OPEN ROAD VISIONS (A company limiled by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Slrategic report (continued) Achievements and performance (continued) d. Fundraising activities and income generation In addition to the funds received for the commissioned services, and to supplement funds received from grant making trusts. the charity undertakes fundraising evenls led by the staff and volunteers, within their offices and places of work. These events can lake many forms from quiz nights or fundraising golf days to charity balls and garden parties. The monies are obtained from contributions from family and friends or donations direclly made by service users and their families. All event contributions are voluntary. Fundraising events have included quizzes, people running marathons. joining in with Santa's sleigh ride in Colchester. The Soap Box Rally and the Charity Ball. Whilst having fun, we also raised funds to support our frontline services. All funds raised from these events, in support of external charities. are recorded separately wtthin the accounting system and are paid directly lo the identified charity. The charity is signed up with the Fundraising Regulator. The charity has not received any complaints regarding ils charity collections and does not undertake any process which would intimidate, exclude, or apply undue pressure to any person to donate funds. There are no fundraising activities undertaken with externai providers. e. Investment policy and pertormance The Trustees acknowledge the need to consider maximising any potential for income from reserves held by the Trust, however, they also acknowledge the requirement to ensure these funds are invested in any "no risk" opportunities. The Trust uses bank accounts approved by the Trustees and maintain balances sufficient to cover immediate and forthcoming financial commitments. Monies surplus to these requirements are invested in short term notice cash accounts. These deposits are all low risk options. Financial revlew Financial Review The Charity made a surplus of £59,655 during the year and holds £3,050,984 funds at the end of the year. Of the funds held, £271,925 is held within reslricted funds, the balance of £2,779,059 of unrestricted fLAnds includes £1,640,127 of fixed assets being used by the Charity and £305,000 designated funds. Total incoming resources increased by 4.7°/o on the previous year ended 31st March 2024. This reflected an increase in the services undertaken, including Thurrock Young Persons Service, additional young persons. services undertaken in Soulhend On Sea funded by OHID and additional OHID funded services were undertaken in for Medway Wellness. Total resources expended increased by 5.50/0 over Ihe previous year, the key items of this increased expenditure reflected the increased services undertaken detailed above. Page 6
OPEN ROAD VISIONS {A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Open Road Solutions Limited, a 100/0 owned trading subsidiary of the Charity, provides the local authority commissioned drug, alcohol and menloring services. The income from this trading subsidiary represents approximately 380/0 of the charity's income. The Charity's main objective continues to be that of improving and extending services to its existing and future clients and in the wider community. Overall, the financial position of the Charity continues to remain strong. b. Reserves policy The trustees of the Charity have a policy to maintain reserves al a level to ensure adequate cover, for a minimum of Ihree months of expenditure, based on the previous 12 months of expenditure. This basis of reserves policy encourages reserves of around £1.1m to be held. The charity is holding unrestricted funds (excluding Designated funds and the Property & Fixed assets fund. which cannot be realised without the sale of assets) of £833,932. This is only somewhat short of Ihe ideal position, but Trustees feel this is satisfactory. Most of the income of the charity emanates frotn local authority contracts which commit the relevant third parties to provide funding for Open Road services over specified periods. The termination of such contracts is subject to periods of notice, during which expenditure related to the services in question. could for the most part be run down before the expiry of the funding period. This would relieve pressure on reserves. The increase in designated funds is also a conscious decision to invest in the future of the charity. As part of our strategic commitment to digital transformation and sustainability, we are increasing the IT designated reserve fund from £20,000 to £30,000 for the 202>2026 and 2026-2027 financial years. This additional allocation will support the continued modernisation of our IT infrastructure and paperwork processes within frontline services, alongside funding a structured replacement plan for ageing equipment. In addition to the digitalisation project, we maintain a five-year rolling IT replacement programme covering essential equipment such as laptops, desktops. and other hardware. This ensures we avoid large-scale obsolescence and maintain continuity across services. This designated fund increase will contribute to thal cycle-helping replace ageing equipment across the organisalion and ensuring we remain operationally resilient and technologically up to date. The bus replacement project will continue into next year. wilh an additional £25,000 being designated towards the Chelmsford SOS Bus replacement. The Head Office roof replacement is a new designated fund created in order to fund the anticipated roof works in 2026-2027 or 2027-2028. c. Principal risks and uncertainties The trustees have 2 duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to Pfovide reasonable assurance against fraud and error. The Senior Leadership Team together with the Trustees. review and assess the organisation's strategic, operational, financial, clinical and governance risks. They ensure that the major risks, to which the Charity and its trading arm are exposed, as identified by the Trustees, have been reviewed and systems have been established lo mitigate those risks. The Trustees, together with the SLT, undertake an annual risk review of all risks. The Page 7
OPEN ROAD VISIONS {A company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 key risks and the mitigating steps taken from the risk register are provided to the external auditors for review in connection with their audit of the consolidated financial siatements. Risks Reputation loss Mitigation Safeguarding & data protection mandatory training DBS checks undertaken Continual review of all Policies and Procedures Review of all "incidents" undertaken Economic Climate Reserves policy reviewed by Finance sub committee Asset slrong balance sheet Market awareness Proactive Senior Leadership Team Desi naled funds Disaster Recovery planning Cyber Essentials certified Secure hosting of IT infrastrucbJre Data protection training and testing Security & Fire Protection at properties Insurance cover Business Continuit Policies and Procedures HR policies and procedures provided to create a structure to support staff and Open Road. Member of the Board of Trustees is a HR professional. Health & Safety online training. Each location has an IOSH Irained health & safety representative. ular1 lo1 su eNision and team meetin HR recruitment systems in place. Leavers reviewed individually. Tumover reviewed regulady by SLT, HR, Trustees and PSC. Monitored a ainst sector tumover. Targeted approach focusing on granl-maintained funds. Expansion of the fundraising and online marketing team. with increased connections. Diversification and use of assets to raise funds. Service user strategy in place. This is under review. Clinical overnance reviewed uarted Loss of Infrastructural Assets Employment Issues High Staff Tumover Fundraising unrestricted funds Lack of co-production Major risks have been reviewed and systems or procedures have been established to manage those risks. d. Principal funding Open Road is pleased to re1ve funding from a number of organisations and individual sources which, during 202412025, including funding from some newfunders, businesses and individuals- Aegros PCN, Basildon Borough Council. Brainlree District Council, Central & North West London NHS FT, Charities Aid Foundation, Charities Trust Benefact. Colchester City Council, Chelmsford City Council, Colchester Catalyst Charity, Colchester Borough Homes. Colchester Round Table, Diana Tinson FT, EPUT Essex University NHS Foundation Trust, Essex Community Foundation. Essex County Council, Essex Lottery, Essex Recovery Foundation, First Give, Forward Trusl, FOer Smith & Jones Charitable Trust, Harlow Health Centres Trust, Joseph & Lilly Sully Foundation. Lion Walk Church, Mama Fesliv315, Marsh Christian Trust, Military Corrective Training Centre, Mersea Lions Club. Mid & South Essex ICB, MIND Mid & North East Essex, Police & Crime Commissioner for Essex, Phoenix Futures. Safe Water, Sailship Training & Learning for Life, Page 8
OPEN ROAD VISIONS (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Screwfix Foundation, Southend on sea City Council, St James's Place Charilable Foundation, Streets Whittle & Partners LLP, Universily of Essex, Wickford Christian Centre, Witham & Maldon PCN, Women's Refuge. e. Going concern After making appropriate enquiries, the Board of Trustees has a reasonable expectation that the charity and its subsidiary have adequate resources lo continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial slatements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies note of the financial statements. Structure, governance and management a. Constitution Open Road Visions Limited, is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 1 April 1993, updated on 20 November 2020. It registered as a charity with the Charities Commission on 20 April 1993. Membership of the charity is by invitation. b. Methods ol appointment or election of Truslees The Board of Trustees is co-opted, in such a way as to ensure a wide range of different professional backgrounds and skills. Potential new trustees are required to attend three meetings prior to appointment. c. Organisational structure and decision-making policies The board of trustees meets quarterly. A Chief Executive is appointed by the trustees to manage the day-to-day operations of Ihe charity. To facilitate effective operations, the Chief Executive has delegaled authorily, wilhin terms of delegation approved by the trustees, for operational matters including finance, employmenl, and treatment related activity. d. Policies adopied for the induction and iralnlng of Trusiees New trustees undergo a period of training to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision-making process, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the underlaking of their role. e. Pay policy for key management personnel Key management personnel comprise of the Trustees and the Senior Leadership team. The Trustees are nol remunerated= services are provided voluntarily. Key management remuneration can see seen in the staff costs notes to the accounts. The Personnel Sub Committee IPSCI meets quarterly, the Finance Sub Committee (FSC} bi-monthly, and the Clinical Governance sub group meet quarterly. Included within their respective annual work programmes is the requirement to monitor, review and implement the remuneration of the CEO and Senior Leadership Team. Page 9
OPEN ROAD VISIONS (A company limited by guaranlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and managemenl (continued) f. Financial risk management The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. g. Members, liability Each member of the Charilable Company undertakes to contribute to the assets ol the Charitable Company in the event of il being wound up while they are a member, or within one year after they cease to be a member, such amounl as may be required. not exceeding £1, for the debts and liabilities contracted before they ceased to be a member. h. Engagement wilh suppliers, customers and others Open Road considers itself part of a wider network within Essex and Kent, providing safer communities by addressing crime associated with drug and alcohol misuse. Open Road has continued to participate in a joint operation with Essex Young People's Drug and Alcohol Service (EYPDAS), part of The Children's Society, providing the Choices services in Essex. Plans for luture periods We are delighted to introduce our new-five-year strategic plan which you can find on our website. Our ethos, values, mission and objectives remain very much the same as when we firsl set out in 1990. to strike a balance between acceptance and change and to accepl people as they are, whilsl helping them to make positive changes as they so desire. We aim to continue to develop our services and offer these lo more people in need. Our main areas of focus are: The People We Support Our Growth & Partnerships Our Teams and the difference we make Our Impact Our Social Value We will again set new ambitious aims and objectives for Open Road as we seek to reach more people who need our support and services and to give them Ihe grealesi gift of all- another chance al life. We know we will face further challenges in the years ahead, but we are determined lo embrace them to ensure service users can still access all our services wilh positive outcomes for themselves, their families and the wider community. We will only achieve that wilh the support - for which we are so grateful - from all those who make up the very wide Open Road community. Page 10
OPEN ROAD VISIONS (A company limited by guaranlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees, responsibilities The Trustees (who are also the directors ol the Company for the purposes of company law) are responsible for preparing the Trustees, report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practicel- Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Group and the Company and of their incoming resources and applicalion of resources, including their income and expenditure, for thai period. In preparing these financial statements, the Trustees are required to= select suilable accounting policies and Ihen apply them consislently- obseNe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting eslimales that are reasonable and prudent- state whether applicable UK Accounling Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial stalements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are suff icient to show and explain the Group and the CompanYs transactions and disclose wilh reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. Disclosure of information to auditors Each of the persons who are Trustees al the time when this Trustees, report is approved has confirmed Ihat: so far as that Truslees are aware, there is no relevant audit information of which the charilable group's auditors are unaware, and that Trustees have taken all the steps that ought to have been taken as Trustees in order to be aware of any relevant audit informalion and to establish that the charitable group's auditors are aware of that information. Audilors The auditors, Griffin Chapman, have indicated Iheir willingness to conlinue in office. The auditors will be considered for re-appointment at the forlhcoming Annual General Meeting of the Trustees Approved by order of the members of the board of Trustees and signed on their behalf by.. N K Alston Chair ol Trustees Date.. 11 ts2S Page11
OPEN ROAD VISIONS (A company limiled by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OPEN ROAD VISIONS Opinion We have audited the financial statements of Open Road Visions (the 'parent charitable company'l and its subsidiaries (the 'group'l lor the year ended 31 March 2025 which comprise Ihe Consolidated stalement of financial activilies, the Consolidated balance sheel, the Company balance sheel, the Consolidated stalement of cash flows and the related notes, including a summary ot significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements- give a true and fair view of the state of the Group's and of the parent charitable companls affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including ils income and expenditure for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the elhical requirements that are relevant to our audit of the financial statemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audwt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriale. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the Group's or Ihe parent charitable company's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 12
OPEN ROAD VISIONS {A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OPEN ROAD VISIONS {CONTINUED) Other information The other information comprises Ihe information included in the Annual report other than the financial statemenls and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover Ihe other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility IS to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the aLAdit, or otherwise appears to be malerially misstated. If we identify such material inconsistencies or apparent malerial misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to reporl thal fact. We have nothing to report in this regard. Opinion on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, report including the Slralegic report for the linancial year for which the financial statements are prepared is consistenl with the financial statements. the Trustees, report and the Strategic report have been prepared in accordance with applicable legal requirements. Matlers on which we are requlred to report by exception In the light ol our knowledge and understanding of the charitable company and its environment obtained in the course ol the audit, we have not identified material misstatements in the Trustees, report including the Strategic report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitable company has not kepi adequate and sufficient accounling records. or returns adequate for our audit have not been received from branches not visited by us- or the parent charitable company financial statements are not in agreement with the accounting records and returns- or certain disclosures of Trustees, remuneration specified by law are nol made- or we have not received all the information and explanations we require for our audit. or the Trustees were not entitled to prepare the financial statements in accordance wilh the small companies regime and take advantage of the small companies, exempiions in preparing the Trustees, report. Page13
OPEN ROAD VISIONS {A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OPEN ROAD VISIONS (CONTINUED) Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied Ihat they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable Ihe preparation of financial statements that are free from material misstatemenl, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent charitable company's ability lo continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidale the group or the parent charilable company or lo cease operations. or have no realistic alternative bul to do so. Page 14
OPEN ROAD VISIONS (A company limiled by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OPEN ROAD VISIONS (CONTINUED) Auditors. responsibilities for the audlt of the financial statements We have been appointed auditor under the Companies Acl 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered malerial if, individually or in Ihe aggregate, they could reasonably be expected to influence the economic decisions of users laken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. The engagement partner ensured the engagement team had the necessary skills and knowledge to identify non- compliance with applicable laws and regulations. We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and for those that are most significant, we enquired into how managemenl ensures compliance is maintained. We identified that the principal risks of non-compliance wilh laws and regulations related to health and safely and safeguarding, supporting the ability to continue operating as a charity focused entity. Correspondence was reviewed from third parties, where relevant. Enquiry and review of the group's transactions was undertaken to highlighl any instances of penalties, fines or legal activity which could suggest non-compliance with laws and regulations. There was no contradictory evidence found. We also considered those laws and regulalions that have a direct impacl on the preparation of the financial slatements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting journal entries to reclassify costs, between this company and the subsidiary company and management judgement on the recognilion of income. In response, we incorporated testing of manual journal entries. sources and treatment of income and scruliny of unusual transactions into our audil approach. Payroll and purchase expenditure was agreed to supporting documentation, on a sample basis. Page 15
OPEN ROAD VISIONS (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OPEN ROAD VISIONS (CONTINUED) Other substantive testing was used to help identify risk factors in transactions during the year, using after date information to supplement our testing. Challenges were made in relation to management assumptions and accounting treatment used. There are inherent limitations in the audit procedures described above and Ihe further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations. or through collusion. It is also stated, as a reminder, that the primary responsibilty for the prevention with bolh management and those charged with governance of the company. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularilies occurring due lo fraud rather than error, as fraud involves intentional concealmenl, forgery, collusion, omission or misrepresentation. A further description of our responsibililies lor the audil of the financial statemenls is located on the Financial Reporting Council's website at: www.frc.or -uklauditorsres onsibilities. This description forms part ol our Auditors, report. Use of our report This report is made solely to the charitable Company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable companws truslees, as a body, Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might state to the charitable company's members those matters we are required to state to Ihem in an Auditors, 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 its members, as a body. for our audil work, for this report, or for the opinions we have formed. Danlel Aldworth (Senior statulory auditor) lor and on behalf of Griffin Chapman Chartered Acoounlanls Statutory Audilors 4&5 The Cedars Apex 12 Old Ipswich Road Colchester Essex C07 7QR Date: 21 Sepknr Page 16
OPEN ROAD VISIONS (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unreslricted funds 2025 Reslricled funds 2025 Total funds 2025 Total funds 2024 Nole Income from: Donations and legacies Charitable activities Investments 102,887 22,636 169,358 1,214 4,281,635 104,101 4,304,271 169,358 800 98.826 4,108,195 154.216 10.866 Other income Total Income 295,681 4,282,849 4,578,530 4,372,103 Expenditure on= Raising funds Charitable activities 7,890 44,907 7,890 4.535,985 1,655 4.303.542 4,491,078 Total expendilure 52,797 4,491,078 4.543,875 4.305,197 Net incomel(expenditure) Transfers between funds 242,884 (137.057) (208,229) 137,057 34,655 66,906 21 Net movemenl in funds before olher recognised gainsl{losses) 105.827 {71,172) 34,655 66,906 Olher recognlsed gainsl(losses): Gains on revaluation of fixed assets 25,000 25,000 Net movement in funds 130,827 (71,172) 59,655 66,906 Reconciliation of funds: Total funds brought fOard Net movement in funds 2,648,232 130,827 343.097 (71,172) 2,991,329 59,655 2,924,423 66,906 Total funds carried forward 2,T19,059 271.925 3,050,984 2,991,329 Page 17
OPEN ROAD VISIONS (A company limited by guarantee) REGISTERED NUMBER: 02806113 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets 15 1,640,127 1,643,936 1,640.127 1.643,936 Current assets Debtors 17 262,592 1,598,647 260,041 1.584,342 Cash at bank and in hand 1,861,239 1.844,383 Currenl liabililies Creditors.. amounts falling due within one year 18 (416,687) (432,847) Net current assets 1.444,552 1,411,536 Total assels less current liabilities 3,084,679 3.055.472 Provisions for liabilities (33,695) {64.1431 Nel assets 3.050,984 2,991,329 Total nel assels 3,050,984 2.991,329 Charity funds Restricted funds.. Restricted general funds 21 271,925 343,097 Total restricted funds Unrestricted funds 21 271,925 343,097 Designated funds General funds Unrestricted property 21 305,000 833,932 1,640,127 245,000 759,296 1,643,936 21 21 Total unrestricted f unds 21 2,779,059 2,648,232 Tolal funds 3,050,984 2,991,329 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation ot financial stalements. Page 18
OPEN ROAD VISIONS (A company limited by guarantee) REGISTERED NUMBER: 02806113 CONSOLIDATED BALANCE SHEEf (CONTINUED) AS AT 31 MARCH 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subjecl to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on Iheir behalf by= N K Alston Chair of Trustees Date: The notes on pages 23 10 55 form part of these financial statements. Page 19
OPEN ROAD VISIONS (A company limited by guarantee) REGISTERED NUMBER: 02806113 COMPANY BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets Investments 15 1,640,127 1,643,936 16 1,640,128 1,643,937 Current assets Debtors Cash at bank and in hand 17 630,409 1,204,851 255,861 1,484,946 1,835,260 1.740.807 Currenl liabililies Creditors= amounts falling due within one year 18 (393,052) (331,615) Net currenl assets 1,442,208 1,409,192 Total assets less current liabililies 3.082,336 3,053,129 Provisions for liabilities (33,695) {64.1431 Nel assels 3,048,641 2,988,986 Total net assets 3,048,641 2,988,986 Charity funds Restricted funds.. Restricted general funds 21 254.352 207.031 Total restricted funds Unrestricted funds 21 254,352 207,031 Designated funds General funds 21 305,000 2,489,289 245,000 2,536,955 21 Total unrestricted funds 21 2,794,289 2,781,955 Total funds 3,048,641 2,988,986 The Company's net movement in funds for the year was £59,655 {2024 - £66.905). Page 20
OPEN ROAD VISIONS {A company limiled by guarantee) REGISTERED NUMBER: 02806113 COMPANY BALANCE SHEET {CONTINUED) AS AT 31 MARCH 2025 The Trustees acknowledge their responsibililies for complying wilh the requirements of the Act wilh respect to accounting records and preparation of financial statements. The financial slatements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: N K Alston Chair of Trustees Date.. Syk£kn 2025 The notes on pages 23 to 55 form part of these financial statements. Page 21
OPEN ROAD VISIONS (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Cash flows from operating aclivilies Net cash used in operating activities 26 (29,516) 104,122 Cash flows from investing actlvltles Dividends, interests and rents from investments Purchase of tangible fixed assets 59,920 51.617 (16,099) 1132,622) Net cash provided byl(used in) investing activities 43,821 (81,005) Cash flows from flnanclng activities Net cash provided by financing aclivities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 14.305 23,117 1,584.342 1,561,225 Cash and cash equivalenls al the end of the year 27 1,598,647 1,584,342 The notes on pages 23 to 55 form part of these financial statements Page 22
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2Q25 General infomiation Open Road Visions is a private charitable company limited by guarantee and registered in England and Wales. Accountlng policies 2.1 Basis of preparalion of tinanclal statements The financial stalements have been prepared in accordance with the Charilies SORP IFRS 1021 Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019}. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act 2006. Open Road Visions meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise stated in the relevant accounting policy. The Consolidated statement of financial activities (SOFA} and Consolidated balance sheet consolidate the financial statements of the Company and ils subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken advaniage of the exemplion allowed under seclion 408 of the companies Act 2006 and has not presented its own Statement ol financial activities in these financial statements. 2.2 Going concern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubl on the ability of the charity lo continue as a going concern. The Trustees make this assessment in respect of a period ol at least one year from the date of authorisation for issue of Ihe financial statements and have concluded that the charity has adequale resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charitys ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Page 23
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.3 Income All income is recognised once the Company has enlitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Consolidated slalement of financial activities on a receivable basis. The balance of income received lor specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entillement occurs before income is received, the income is accrued. Gilts in kind donated for distribution are included at valuation and recognised as income when Ihey are distributed to the projects. Gifts donated for resale are included as income when they are sold. A valuation of volunteer time given to the charity is not included in these financial statements. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a Ihird party, it is probable that a transfer of economic benefils will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly io that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistenl with the use of resources. Central slaff costs are allocated on the basis of time spent. and deprecialion charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charilable purposes and includes costs of all fundraising activities events and non-charitable Irading. Expenditure on charitable activities is incurred on directly undertaking the aclivilies which further the Group's objectives, as well as any associated support cosls. Where staff are working on specific projects, a proportion of their cost is allocated to the projectlsl- This proportion is calculated wilh reference to Ihe amount of time spent and the economic inflows. Certain expenditure is directly attributable to specific activities or projecls and has been included in those cost categories. Where charity resources are used for a specific project, an apportionment of overhead costs is allocated to the project(s). Other support costs are allocated to activities in proportion lo their contribution to the economic inflows of the charity. All expenditure is inclusive of irrecoverable VAT. Page 24
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (conlinued) 2.5 Interest receivable Interest on funds held on deposil is included when receivable and the amount can be measured reliably by Ihe Group. this is normally upon notificalion of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxalion The Company is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meels the definition of a charitable company for UK corporation tax purposes. Accordingly, Ihe Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Acl 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to Ihe exlent that such income or gains are applied exclusively to charitable purposes. 2.7 Tangible flxed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefils are probable and the cost or value of the asset can be measured reliably. Freehold properties are initially recognised al cost. After recognition, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulaled depreciation and subsequent accumulated impairmenl losses. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from thal which would be determined using fair value at the end of the reporting date. Fair values are delermined from markel-based evidence by appraisal that is normally under1aken by professionally qualified valuers. 11 Ihere is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and it is rarely sold, except as part of a contributing business, a Company may need io estimate fair value using an income or depreciated replacement cost approach. Gains and losses on revaluation are recognised in the Consolidated statement ol financial activities, with a separate revaluation reserve being shown in the Slatement of funds note. At each reporling date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the assel is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amounl. Depreciation is charged so as to allocate the cost of tangible fixed assels less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Short-lerm leasehold property Motor vehicles Fixtures and fittings Computer equipment 33°/. 25°/. 25% 33.1. Page 25
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.8 Inveslments Fixed asset investments are a form of financial instrument and are initially recognised at Iheir transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investmenls, in the Consolidated statemenl of linancial activities. Investments in subsidiaries are valued at cost less provision for impairment. 2.9 Deblors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments wilh a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.11 Llabllitles Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNices it must provide. Provisions are measured at the best eslimate of the amounts required to settle the obligalion. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflecls the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost. 2.12 Financial instrumenls The Group only has financial assels and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effecttve interest method. 2.13 Operating leases Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term. Page 26
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.14 Pensions The Group operales a defined contribution pension scheme and the pension charge represenls the amounts payable by Ihe Group to the fund in respect of the year. All contributions are dealt with as restricted fund transactions. 2.15 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for olher purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial slatemenls. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for parlicular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial slalements. Inveslmenl income, gains and losses are allocated lo the appropriate fund. Page 27
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectalions of luture events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The Company makes estimales and assumptions concerning the fulure. The resulling accounling estimates and assumplions will, by definition, seldom equal the related actual resulls. The estimates and assumptions that have a significant risk of causing a material adjustment lo the carrying amounls of assets and liabilities within the next financial year are discussed below. Critical areas of judgment- The fair value of the freehold properties is based on the marketing value of each one. The location, condition and accommodation of each building is assessed, along with current trends in the UK market to assist Trustees in arriving at a fair value. Values of similar properties in the area are used as benchmarks to help estimate changes in fair values when a professional valuation is not used. Within provisions is an estimate of future cost for dilapidations. This figure is in relation to the properties and spaces in which the charity is a tenant and the lease agreement contains an obligation to repair the property when Ihe lease arrangement ends. The provision is assessed by management al the end of each year, with the aim of providing for expected repair and redecoration costs. across the term of the leases. When the repair and reinstatement works are carried out al the end of a lease, and the final costs are known, it may malerialise thal the charity has either under-estimated or over-estimated the costs of the dilapidations, and an adjustment will be needed. If the accounting provision turns out to be in excess of the dilapidations expenditure, the difference is added back to reduce total costs in the year of the works. If the provision is less than is needed, any additional actual expenditure can be deducted within the year the work is completed. Page 28
OPEN ROAD VISIONS {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donalions and legacies Unrestricted Restricted lunds funds 2025 2025 Total funds 2025 Donations 102,887 1.214 104,101 Unrestricteo funds 2024 Restricteo funds 2024 Total funds 2024 Donations Grants 88,050 5,776 5.000 93.826 5.000 Total 2024 88,050 10,776 98,826 Income from charltable actlvltles Unrestrlcted Restricted funds lunds 2025 2025 Total funds 2025 Income from charitable activities and services 22,636 4,281,635 4,304,271 Further detail on income type is seen in the detailed slatement of funds. Unrestricteo funds 2024 Restricteo funds 2024 Total funds 2024 Income from charilable activities and services 27,112 4,081,083 4,108,195 Page 29
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Inveslmenl income Unrestricted funds 2025 Total funds 2025 Investment income - properties Investment income - cash 109,438 59,920 109,438 59.920 Total 2025 169,358 169,358 Unrestricteo funds 2024 Total funds 2024 Investment income - properties Investment income - cash 102.599 51.617 102.599 51,617 Total 2024 154,216 154,216 Other incoming resources Unreslricted funds 2025 Total funds 2025 Costs recharged to other entities 800 800 Unrestrictea funds 2024 Total funds 2024 Costs recharged to other entities 10,866 10,866 Page 30
OPEN ROAD VISIONS {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Cosls of raising volunlary income Unrestricted funds 2025 Total funds 2025 Fundraising costs 7,890 7,890 Unrestricteo funds 2024 Total funds 2024 Fundraising cosls 1.655 1,655 Analysis ol expendlture on charitable activilies Summary by fund lype Unrestricted Restricted funds funds 2025 2025 Tolal 2025 Charitable activities Governance cosls Finance 42,853 4.477.078 14,000 4,519,931 14,000 2,054 2,054 Total 2025 44,907 4,491,078 4,535,985 Page 31
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on charitable activities (continued) Summary by fund type (continued) Unrestrictea funds 2024 Restricteo funds 2024 Total 2024 Charitable activities Governance costs Finance 59,787 4,228,884 13.500 4.288.671 13,500 1.371 1,371 Total 2024 61,158 4,242.384 4.303.542 10. Analysis of expenditure by aclivities Aclivilies undertaken directly 2025 Support costs 2025 Total funds 2025 Charitable activities Governance costs Finance 3.842.887 677,044 14.000 2,054 4,519,931 14,000 2.054 Tolal 2025 3.842,887 693,098 4,535,985 Activities undertaken direGtIy 2024 Support Gosts 2024 Total funds 2024 Charitable activities Governance costs Finance 3.578,636 710,035 13,500 1,371 4,288,671 13,500 1,371 Total 2024 3,578,636 724,906 4.303,542 Page 32
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by activities {continued) Analysis of direct costs Charitable activities 2025 Tolal funds 2025 Staff costs Training and courses and recruitment Other staff & volunteer costs inc travel 3.322,187 57,742 102.242 134,241 28.852 88,169 67.513 41,273 668 3.322,187 57,742 102,242 134,241 28,852 88,169 67,513 41,273 668 Agency and self employed staff costs Clienl trips, activities & equipment General bus running costs Supply of medical services Needle exchange Drugs test screening Total 2025 3,842,887 3,842,887 Gharitable activities 2024 Total funds 2024 Staff costs Training and courses and recruitment Other staff & volunteer costs inc travel Agency and self employed staff costs Client trips, activilies and equipment General bus running costs Supply of medical services Needle exchange Drugs test screening 3,017,133 39,252 102,839 174,012 52,443 68,488 69,673 48,510 6,286 3.017.133 39.252 102,839 174,012 52,443 68,488 69,673 48,510 6,286 Total 2024 3,578,636 3,578,636 Page 33
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by activilies {continued) Analysis of support costs Charilable Governance activities cosls 2025 2025 Total funds 2025 Finance 2025 Depreciation Premises costs inc cleaning Subscriptions, periodicals and books Markeling and publicity Postage, stationery, printing and phone Gomputer costs Repairs and maintenance Equipment & other costs Insurance Legal & professional and accountancy Rent Bank charges {Profitl/loss on disposal of fixed assets Governance costs 44.907 212,114 11.544 19,521 60,288 123,987 12,436 31,558 45,929 18,014 65,275 44,907 212,114 11,544 19,521 60,288 123,987 12,436 31,558 45,929 18,014 65,275 2,054 31,471 14,000 2,054 31,471 14,000 Total 2025 677,044 14,000 2,054 693,098 Page 34
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by activilies (continued) Analysis of support cosls (conlinued) Charitable Governance activities costs 2024 2024 Total funds 2024 Finance 2024 Depreciation Premises cosls inc cleaning Subscriptions, periodicals and books Markeling & Publicity Postage, stationery, printing and phone Computer costs Repairs and maintenance Equipment & other costs Insurance Legal & professional and accountancy Rent Bank charges Governance costs 21.726 129,544 15,453 43,186 70,168 132,641 71,562 67,525 36,688 18,584 102,958 21,726 129,544 15.453 43,186 70,168 132,641 71.562 67,525 36,688 18,584 102,958 1,371 13,500 1,371 13.500 Tot212024 710.035 13.500 1,371 724,906 11. Auditors. remuneration 2025 2024 Fees payable to the Companvs auditor for the audit of the Company's annual accounts 10,750 10,500 Fees payable to the Company's auditor in respect of- All non-audit services nol included above 2.750 3,000 Page 35
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Staff costs Group 2025 Group 2024 Company 2025 Company 2024 Wages and salaries Social security costs Contribution to delined contribution pension schemes 2,998,495 262,889 2,725.545 236.665 2,998,495 262,889 1,466,624 109,401 60,803 54,923 60,803 26,886 3,322,187 3.017.133 3,322,187 1,602,911 The average number of persons employed by the Company during the year was as follows.. Group 2025 Group 2024 Company 2025 No. Company 2024 No. Administration Project workers Directors 10 10 122 105 122 105 135 118 132 115 The number of employees whose employee benefits (excluding employer pension coslsl exceeded £60,000 was.. Group 2025 No. Group 2024 No. In the band £60,001 - £70,000 In the band £70,001- £80,000 In the band £90,001- £100,000 The key management personnel ot the charity comprise the Trustees and the senior management team as listed on page 1. The total amount of employee benefits {excluding employer pension contributions and employer nalional insurance contributions) received by key management personnel for their services to the charity was £238:716 {2024 - £225,713). All staff costs are Ireated as restricted expenditure. 13. Trustees, remuneraiion and expenses During the year. no Trustees received any remuneration or other benefits (2024 - £NILI. During the year ended 31 March 2025, no Trustee expenses have been incurred12024 - £NIL). Page 36
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Taxation Corporation lax Taxation on net incomel(expenditure) The tax assessed for the year is lower than {2024 - lower than) the standard rate of corporation tax in the UK of 25°/. (2024 - 250/0). The differences are explained below: 2025 2024 Net income/(expenditurel before tax 34.655 66,906 Net income multiplied by the standard rate of corporation tax in Ihe UK of 25 % {2024 - 25°/0 Effects of: 8,664 16.727 Non-taxable income (8,664) (16,727) Total lax charge for Ihe year There are no faclors considered likely to affect future tax charges. Page 37
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OPEN ROAD VISIONS (A company limited by guaraniee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Tangible fixed assels (continued) The fair value ol the freehold properties as at 31 March 2025 was considered by the Trustees, with reference lo recent marketing reports undertaken by local RICS registered surveyors, to have only changed marginally since last year. In reaching this conclusion, the Trustees nole that- No changes or alterations to the properties or activities conducted in the properties have taken place No dilapidations have occurred and Ihe properlies have been mainlained during the year There has been no significanl change, development or redevelopment to the areas surrounding the properties The Trustees are nol aware of any future changes to the properties and surrounding areas. The Group has adopted a policy of revaluation for tangible fixed assels. Had these assets been measured at historic cost, the carrying values would have been as follows: Group 2025 Group 2024 Company 2025 Company 2024 Freehold properly 751,785 775.487 751,785 775,487 Page 40
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Fixed asset inveslmenls Inveslments in subsidiary companies Company Cost or valualion At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 17. Debtors Group 2025 Group 2024 Company 2025 Con7pany 2024 Due within one year Trade deblors Amounts owed by group undertakings Other debtors Prepayments and accrued income 205,553 222.318 193,989 411,335 162,332 70,356 76 56,963 37,723 25,085 23,173 262,592 260,041 630,409 255,861 Page 41
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Credilors: Amounls falling due within one year Group 2025 Group 2024 Company 2025 Company 2024 Trade creditors 45,763 132,158 46,322 192,444 4,399 152,864 12,762 262,822 45,634 132,158 46,322 168.938 4,399 152,864 12,762 161,590 Other laxation and social security Other credilors Accruals and deferred income 416,687 432,847 393,052 331,615 Group 2025 Group 2024 Company 2025 Company 2024 Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods 156,046 93,667 (156,046) 260.695 156.046 (260,695} 99,046 181.195 93,667 99,046 (99,046) (181,195) 93,667 156.046 93,667 99,046 Deferred income is made up of grant, contract and donation income meeting the definition of deferred income under the Charity SORP at the year end. 19. Financial instruments Group 2025 Group 2024 Company 2025 Company 2024 Financial assets Financial assets measured at fair value through income and expenditure 1,598.647 1,584,342 1,204,851 1,484,946 Financial assets measured at fair value through income and expendilure comprise bank and cash balances. Page 42
OPEN ROAD VISIONS (A company limited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Provisions Group and Company Dllapidations At 1 April 2024 Amounts reversed 64,143 {30,448} 33,695 21. Slatement of funds Slatement of funds - current year Balance at 31 March 2025 Balance al 1 April 2024 Transfers inloul Gainsl {Losses} Income Expenditure Unrestricted funds Designated funds Bus replacement Property repairlrenovation IT and communications upgrade Head Office roof replacement 150,000 25,000 175,000 75.000 75,000 20,000 10,000 30,000 25,000 25,000 245,000 60,000 305,000 General funds Unrestricted General funds Properly & fixed assets 759,296 295,681 (7,889) (213,156) 833,932 1,643,936 (44,908) 16,099 25,000 1,640,127 2,403,232 295,681 (52.797) {197,057) 25,000 2,474,059 Page 43
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Slatement of funds {conlinued) Slatemenl of funds - currenl year (conlinued) Balance at 31 March 2025 Balance al 1 April 2024 Transfers inloul Gainsl (Losses) Income Expenditure Total Unrestricled funds 2,648,232 295.681 {52,797) {137,057) 25,000 2,779,059 Restricted funds Oasis Secure Schools 58,919 (58.919) Essex County Council Suffolk and North East Essex CCG Chelmsford City Council Colchester City Council Colchester Borough Homes Homeless prevention Mid Essex CCG - SOS Bus Chelmsford Night services. Charitable Trusts, Foundations, Associations and Corporate Charities North Easl London NHS FT Medway Forward Trust - Wellbeing and Recovery Service 189,589 2,448,420 (2,663,819) 137,057 111,247 28,774 158.513 (187,187) 100 218 26,666 (26,884) 277 17.500 (17,777) 275 13,038 (12,977) 336 204 25.000 (25,204) 68.339 47,634 (98,732) 17.241 399 71,429 (71,828) 12,858 451,290 (430,581) 33,567 Page 44
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Slatement ol funds (continued) Slatement ol funds - current year (conlinued) Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Gainsl (Losses) Income Expendllure Foard Trusl - Southend, Thurrock and Medway Young Persons Services Colchesler Catalyst Restricted donations from Individuals 25,473 774,067 (725,282) 74,258 8.780 (1,759) 7,021 100 (100) MHLGA . The Next Ghapier and GHESS Petley - Families Supporl Southend-on- Sea City Gouncil Epping District Council Job Coach 434 28.211 (28,360) 285 14,119 (14,119) 38.636 {29,126) 9,510 27 (27) Other Statutory funding 2,111 114,646 {98.39n 18,360 343,097 4,282,849 (4,491.078) 137,057 271,925 Total of funds 2,991,329 4,578.530 (4,543,875) 25.000 3,050,984 Page 45
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Stalement of funds (continued) The unrestricled property and fixed assets fund includes the nel effect of fair value adjLJStments. Depreciation is charged to this fund. During Ihe year, unrestricted funds were used for a number of restricted funds with expenditure in excess of restricted funding. For the year ended 31 March 2025, £137.057 of unreslricled funds were used to support expenditure in AARCS in restricted funds. Designated funds were added to, using £60,000 of unreslricled funds, in the year. More information can be found in the Trustees. report. During the year, amounts were transferred from unrestricted property and fixed asset funds to reflect the depreciation charged to restricled funds for the use of assets. The restricted fund includes funding for various projects undertaken by the charity. Addilional detail of restricted income received. for the following areas, can be found in the notes below: Essex County Council Suffolk and Norlh East Essex CCG Other Statutory funding Charitable Trusts, Foundation. Associations and Corporate Charities Page 46
OPEN ROAD VISIONS (A company limiled by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Statement of funds (conlinued) Statement of funds- prior year Balance al 31 March 2024 Balance al l Apnl 2023 Transfers in/oul Income Expenditure Unreslricled lunds Designated funds Bus replacement Property repairlrenovation IT and communications upgrade 150,000 75,000 150,000 75,000 20,000 20,000 245,000 245,000 General funds Unrestricted General funds Property & fixed assets 706,191 1,533.041 280,244 (41,086) (21,7271 (186.0531 132.622 759,296 1.643.936 2,239,232 280,244 {62,8131 {53,431) 2.403.232 Total Unrestricted funds 2,484,232 280,244 {62,813} (53.431) 2,648,232 Restricted funds Essex County Council Suffolk and North East Essex CCG Chelmsford City Council Colchesler City Council Co5chesler Borough Homes - Homeless prevention Mid Essex CCG - SOS Bus Chelmsford Night services. Charitable Trusts, Foundations, Associations and Corporate Charities North East London NHS FT Medway 105,175 2,574,693 {2,672,3321 182,053 189,589 95,000 128,507 26,666 17,500 (116,111} {26,448) {17,8751 {78,622) 28,774 218 277 652 250 12,500 112,475) 275 25.000 (24,7961 204 94,653 121.625 (147,939} 68,339 171,429 (171,030) 399 Page 47
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Statement of funds (continued) Statement ol funds - prior year (continued) Balance al 31 March 2024 Balance al l April 2023 Transfers in/oul Income Expenditure Forward Trust - Wellbeing and Recovery Service Foard Trust - Southend Young Persons Services Colchester Catalyst Clothworkers MHLGA - The Next Chapter and CHESS 345,801 (332.943) 12.858 2,670 601 412.271 1389.4681 {6011 (9,080) 25,473 9,080 7,671 55,614 49.784 157,021) (41,495) 434 Petley - Families Support Epping Districl Council Job Coach Other Statutory funding 14,119 8,864 59,961 50,751 155,332 {59,588} {163.182} 27 (50,000) 2.111 440,191 4.091,859 {4.242.3841 53,431 343.097 Total of funds 2.924,423 4,372.103 (4,305.1971 2,991.329 Page 48
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Further funding delail - Essex County Council & SuffolklNorth Easl Essex CCG Group Income Group Income Essex County Council All Age Recovery Coordination Service Individual Placement Support Criminal Justice Service Essex Appropriate Adult Service Employment Placement Services Chelmsford SOS Bus Night Service Colchester SOS Bus Night Service Smoking Cessation Grant DASS North Essex Housing Support 1,307,550 264,674 256,000 194,011 235,850 25,000 57.000 18,335 90,000 Suffolk and North East Essex CCG Colchester SOS Bus Nighl Service Street Outreach Icolchester) Shells Changing Futures 65,913 33,133 59,467 2,448,420 158,513 Page 49
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Further funding delail - Others and Charitable Trusls Group Group Charilable Trusts & Corporate Funding Income Other Statutory Income Other Statutory income Witham PCN Prescribed Medication Service Aegros Prescribed Medication Service Braintree SOS Bus Changing Futures Military Corrective Training Centre - Counselling and training Thurrock Diversionary Activities National Lottery Charitable Trusts & Corporate Funding Income Southend YP 1.298 33,683 26.250 14,013 19,288 20,000 1,000 500 300 7,560 900 200 2,000 5,000 4,815 1,000 1,881 20,000 2,478 SOS Bleed Kits Medway Yoga ECF Be Well Sail Ship - Clacton Allotment PFCC SOS Community Bus Colchester Colchester Community Safety Training Harlow Health Centres Trust Screwfix Foundation Harvey Centre Southend High School First Give Communily Safety Anti Spiking HSBC Harvey Centre Grant ERF Haircuts Basildon 114,532 47,634 Page 50
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 24. Summary of funds Summary of funds - cUrnt year Balance at 31 March 2025 Balance al 1 Aprll 2024 Transfers inlout Gainsl (Losses) Income Expenditure Designated funds General funds Restricted funds 245.000 2,403,232 343.097 60,000 {197,057) 137,057 305,000 2,474,059 271,925 295,681 {52,797) 4.282,849 (4,491,078) 25,000 2,991.329 4,578,530 (4,543,875) 25,000 3,050,984 Summary of funds- prior year Balance al 31 March 2024 Balance al l April 2023 Transfers in/oul Income Expenditure Designated funds General funds Restricted funds 245,000 2,239,232 440,191 245,000 {53,4311 2.403,232 53,431 343,097 280,244 (62,813) 4,091,859 {4.242,384) 2,924,423 4,372,103 (4.305,197) 2.991,329 25. Analysis of nel assels between funds Analysis of nel assels between tunds - currenl year Unrestricied Restrlcted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Provisions IOT liabilities and charges 1.640,127 1,589,314 {416,687} (33,695} 1,640,127 1,861,239 (416,687) (33,695} 271,925 Total 2,779,059 271,925 3,050,984 Page 51
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 25. Analysis of nel assels between funds (continued) Analysis of nel assels belween funds- prior year Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Credilors due within one year Provisions for liabilities and charges 1.643,936 1.068,439 1,643,936 1.844,383 (432.8471 164,1431 775.944 {432,847} {64.1431 Total 2,648,232 343.097 2,991,329 26. Reconcllialion of nel movement in funds to nel cash flow from operaling aclivities Group 2025 Grou 2024 Net income for the year (as per Statement of Financial Activities) 34.655 66.906 Adjusiments for: Depreciation charges Decrease in provisions Decreasellincreasel in debtors Decrease in creditors Interest received 44,908 (30,448) (2,551) 212,308 (16,160} 1145,2021 (59.920) {51,617) 21,727 Net cash provided byl(used In) operating activities (29,516) 104,122 27. Analysis of cash and cash equivalenls Group 2025 Group 2024 Cash in hand 1,598,647 1,584,342 Tolal cash and cash equlvalents 1,598,647 1.584,342 Page 52
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 28. Analysis of changes in net debt At 1 April 2024 Cash flows At 31 March 2025 Cash at bank and in hand 1,584,342 14,305 1,598,647 1,584,342 14,305 1,598,647 29. Pension commitments The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those ol the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £60,803 (2024 £54,923)- £11,459 {2024 £11 ,262) were payable to the fund at the balance sheel date and are included in creditors. 30. Operating lease commitments At 31 March 2025 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows= Group 2025 Group 2024 Company 2025 Gompany 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 60,832 132,918 33,800 83,482 122.161 350 60,832 132,918 33,800 83,482 122,161 350 227,550 205,993 227,550 205,993 The following lease payments have been recognised as an expense in the Statement of financial activities.. Group 2025 Group 2024 Company 2025 Company 2024 Operating lease rentals 90,775 88,891 90,775 88,891 Page 53
OPEN ROAD VISIONS (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 31. Related party transactions Owing io the nature of the Trust and the composition of the Board of Trustees being drawn from local public and private sector organisalions, transactions may take place wilh organisations in which the Trustees have an interesl. All transactions involving such organisations are conducted in accordance within the requirements of the Charity's conslilutional documenls and Charily Commission guidance. All funding has followed normal procedure within the donor entity. During the year. income was received from Aegros PCN of £33.683 {2024 £33,057) for the provision of services. Trustee Caroline Dollery is the Clinical Director of Aegros PCN, a nelwork ot 6 GP surgeries in and around Chelmsford. During the year, the group incurred costs for legal services totalling £4,307 (2024 - £5891 from Birkett Long , a company in which Tim Field. a trustee, is a parlner. At this and the preceding year end, there were no balances due lo or from the charity, in relation to any of the above. Total donations received, in this year, from related parties lolalled £1,520 (2024 - £1,695) and had no conditions attached. This includes winning auction purchases al fundraising events. Two employees, employed on a zero hours basis, are close family members of Iruslees. Both employees are paid the same rale as others carrying out similar roles in the charity. Page 54
OPEN ROAD VISIONS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 32. Principal subsidiaries The following was a subsidiary undertaking of the Company: Regislered office or principal Principal activily place of business Name Company number Open Road Solutions Limited 08417728 12 North Hill. Colchester, C01 1DZ To act as the trading arm of Open Road Visions Class of shares Holding Included in consolidalion Ordinary 100% Yes The financial results of the subsidiary for the year were: Name Income Expendlture Net assets Open Road Solutions Limited 1.880,445 (1,880,445) 2,344 Page 55