Charlty règistrallon number 1064524 Company reglstratlon number 033886711England and Wal) OAKLEAF ENTERPRISE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
OAKLEAF ENTERPRISE LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs LAndrews Mr R W Maybury Mr P J Bevan Mr J W "ndelI Mr M Harrison Cllr A M Go(*fv4in MrA Lilleyman Mr R M Lloyd Mr S KA Michel Ms A Barnpou (Appointed 27 July 2023) (Appointed 25 July 2024) Secretary Mr J W lfjndell Charity number 1064524 Company number 03388671 Registered offic8 101 Walrmjt Tree Close Guildford Surrey GU14UQ Auditor Moore {S(Krth) LLP Sutte 3. send Floor Friary Court 1 >21 High Street Guil(fft)rd Surrey GU13DG Bankers Metro Bank plc 1 Southampton Row London WC1 B SHA Solicitors Moore Barl(yAI LLP The Oriel Sydenham Road Guildford Sutrey GU13SR
OAKLEAF ENTERPRISE CONTENTS Page Chairfs Statement CEO Report Tnjslees. rep)rt 4-10 statement of Tnjstees, responsibilities 11 Independent auditorfs repcmt 12-15 stateMrt of financial a(Aivities 16-17 Balance sheet 18 Siatement of cash flows 19 Noles to the financial statements 20-41
OAKLEAF ENTERPRISE CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 As Oakleaf has grown over the last fve years. in tenns of income. members of staff and number of dients supported. the Board recognised that Oakleaf needed to strengthen its govemance to ensure that the Charity remains on a stable footing. Following operational and Board thanges in approath made over the last two years. 202312024 has seen significant improvements in our g0veman. Key achievements indude:_ 1. Successful navigation wr first full financial audit, as dislinct from an independent examination. 2. Achieving a financial perfOrnn better than plan." a significant aiJievement in the current ecY)nliC dimate. 3. Implementing changes. supported by Uoyds Foundation. to strengthen Boarrl govemance POBt a DigiBoard Audit of the Board". a. Development and irrplementation of fjve year strategic goals tkAt thill enable Oakleaf to grow svstainably. i. Relocate lo a better and more sustainable location. ii. Drive to in¢ase funding and shift the balance to a signifi¢ant majority of unrestrfjcted funding as we build organisational flexibilty to address the thanging needs and increasing size of our dient base. i. Build strength and depth in our organisational skills to improve robustness of the organisation in the event of business disruption. Improve our ability to collect. analyse and use data to highlight how we imparA and improve the lives of others and to improve our organtsational effediveness. Increase our reach aosS a broader and more diverse dient base ensuring that our services, wheiher provided directy or indiredy. at8 accessible to minority and underserved groups. b. Butlding doser relationships belween the Board and the members of Oakleafs senior management team through their regular attendance at Board meetings to present and discuss issues important to Ihem. 4. Risk Management improved by introducing risk appetiie measures that enabIe us to drtve mitigation efforts that are efflLaent in time. effort and cost to implement. Through the efforts of its staff and volunteers. Oakleaf has Gontinued to strengthen its role in the community, This is a key foundatr'on stone that enable5 Oakleaf to grow support for its clierrts. It also importantly enables Oakleaf to raise awareness of the impact of mental health on the wider community and, through training and leaming events. build a support nelwork that enables its dients to gain a safe foothold bac into 'nomial life,. l am extremely proud of the efforts of our staff and Volunte in this spa. The Lottery funded Employment project, as mentiongj by cT CEO in his reporL has been an outstanding success. Far more Clients than had originally been forecast have athieved sustained employment. Through this athievement we have been able. once again, to serxjre the support of the Lottay Fund. I very much look fonvard to seeing how our collaboration and partnership wilh Guildford Ac*ion can adiieve even greater outcomes enabling marginalised members of our SOGiety to gain worth1[e employme I would like to thank our existing donors for their continued support and welcome our new donors lo Ihe Oakleaf family. Imthout your kindness and generosity, we would be able to survive. I would also like to recognise the significanl efforts of our staff and vdunteers. Through your continued and n(xyudgemental support of our dients. you make a huge difference to their lives. On our Clients. behalf I would like to say Thank You. orraine Andrews Chair of the Board Date: .
OAKLEAF ENTERPRISE CEO REPORT FOR THE YEAR ENDED 31 MARCH 2024 When dients start their journey vath Oakleaf it is often commenced with some degree of trepidation and anxiety. Although many individuals wll have undertaken an informal visit prior to c¥Jmin9 to an activity. very littte prepares anyone for what could be similar to memories of the first day at school. Hopefully through repetition. forging relationships and enjoyment. dients overcome their fears, becoming less isolated and more confident. l arn aayS mindful that this jovmey comes with a lot of change and thallenge, which is what I feel as l embark on my own joumey of reflecting back over a year of activities. My report is obviously not a direct corr¢)aTison but as the organisation continues its joumey there are some similafilies. as I reflect upcrf) a variety of adivities and training, celebrate positive outcomes and leam fr(xn unsuccessknl ventures. The enty point for all dients is their inilial introduclion and at the end of year wee received 427 new referrals. Once the dient ¢ommence5 their journey Ihrough Oakleaf. we count individual attendances at every activity or training provided by us. whith resulted in 8.722 unique visits at year end. One of the many outcomes we trath are clients entering employment and we are pleased lo report that 49 thnts started work during the same period. Our Brtdge the Gap project whith wotks wrth adults who have complex needs. encompassing - mental ill-health, domestic abuse. criminal ju51ice. homelessness and substance abuse. has gone from strength to Strength. We moved from two fulplime support workers to an additional 50% part-time WOTker, all carrying a maximum caseload and delivering critical input8. Harking back to my earfier references about relati¢)nships, these are essential for the success of the proiecL as for many, trust has been damaged and is yet PNOtal for enabling support and progression. Work¢ng across the county, predominantty on an outreach basis, the skills of our team have been eXctiOnal in developing positive and poWerng relationships. Looking at outcx)m6s for Ihis dient group. we see a decrease in negative behaviour resuits.ng in crists and less dependence upon acJJte facakiies. twt increased positive engagement with support servi¢e5. Due to a lack of slalutory fvnding. we sadly saw the cessation of our Young Aduhs Safe Haven trial at 31 March 2024. lIst financial 5UPPOrt was lacking. the need remained consistent. The service helped many young people who were often at high risk of suicide. and although we had to dose this speofic sèrvice. we are thankfulty able to divert dienls into our main Safe Haven. We are delighted wilh ow National Lottery. Pathways to project. It has achieved its projected objecb"ves. with the number of dients being supported, those gainirvj meaningful employment, increastng their confidence, decreasing soctal isolation and attaining qualificalrons. As the three year pr¢ie¢t draws to a dose, we are very excited to have been SucssfUl wilh a new fve year application. detailed under Yhe Future" bdow. Across our services we Measu and review numerous different individual performance outcomes. For some these will be the gaining of a qualification, for others a new skilt or interest. going right through lo tsaving Oakleaf and gaining employmenL In many ways it seems slighlly perveT5e that we measure success when someone leaves Oakleaf, but ihankfully this is usually part of a dient's positive journey. There are other ng1tUd1nal markers used. Oft referred to as sofi oUtmes, but nonelheless of eqtsal value to a dient. lthat I believe has far more impact than all the data we collect are the individual client Gase siudies. some of which I have shared below. On8 client on his own ioumey has leamt to be creative. gain n8w sh"Ils and remember what he is pable of as opposad to what he wuld not do. He lelt that his time at Oakleaf bmughf leaming. laughter, friendship and fun - 'tlme to ftirget about the difficult things,. As his confidence gffjw, he fett realtyproud of whal he had achi8vad, he says." 'Oakleaf I helped me beyond words. It has made me feel human agaln. steve Another dient whose primary focus was on IT refierAs". "Qakleaf has glven me a whole new outlook on Jlfe. These days i find soclal engagement In a wort sethng much easler aml nre natural. I no longer feel as though I'm conflned to that old comfort zone l once relied upon, avoiding everyone and everything that was unfamiliar to me. l am focused on broadening my horizons and taklng charye. at work and In Ilfe.. Simon Simon above, is an excellent example of someone who engaged wilh Oakleaf for a variety of (x)urses and wellbeing activities. Ultimalely. he progTrssed to working as a volunteer. before taking tha final steps to move away from 08kleaf and th8n into omployment.
OAKLEAF ENTERPRISE CEO REPORT FOR THE YEAR ENDED 31 MARCH 2024 Re5ationshlps within our staff tearn are important Ixrt we recognise for the majority these also form part of their own unique joumey as we viitnessed B O)uple of the team moving on. Some key and enduring friendships are fomied and for many their rektionship Oakleaf rtinueS. volunteering in support of fundraisng artivitse5, As many will know recsuitment has en challenging over the last 12 mnths. but. ultimately. have always succeeded in securing the right person for the role. Nobody is the same as trieir prede¢e550r and change aws happens but wlh it comes a wealth of new perspectives and opportunities f both the new team member and the organisation. The Future As alluded to above we have been fjuccessful with a new partnership bid to the Nationat L¢)ttery, entitled 'Paths to Success.. This is a very exoting opytunIty for us as we have se¢xred a Fyoject for five years and will be working in partnership with Guildford Action. a local tharity which works with the homeless MmunIty- This new initiative will enable both thaTities to achieve a Lx)mmon goal. u8g eath cherfs skills aTKI experienceg to the benefit of the charities. res Clive Stone CEO Date: ZS: lo..:Z
OAKLEAF ENTERPRISE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees who are also DireLtors of the Charity for the purposes of the Companies Act 2006. present their report vAih the financial statements of the Charity for the year ended 31 Marth 2024. The Trustees have adopted the provisions of Accounting and Reporting by Chartlies: Statement of Recommended Practice applicable to charities preparing their accounts in accordan wilh the Fsnancial Reporbng Standard applicable in the UK and Republic of Ireland (FRS 102) (effedive 1 January 2019). Oblectlves and activities Thé Charity's primary ol¥'ec* is worded within its Arlides of Assoc#ation and its Goveming Do(%Ml lodged with the Chanty Commission i.e. °to relieve and support persons with mental and physi1 heallh dfficulties, including those with special needs, by the provision of a range of ocujpational training [81leS and counselltng" and to advance the education of persons vlith mental and physical health drfficultses by the proviston of vocaliond skills training.. Oakleaf as a charity regTStered with the Charity Commission. give5 due regard to public benefit and considers that the range and volume of activities it wovides and reflected in this report meel the requirements of Public Benefit. Suth actitIeS and training are accessible and indusive Wbth no barriers to entry, especially for those who may be considered as living within poverty rx suffering from a disability (specifically mental i[health). Objects. alms and activities The principal object5 of the Charity are to support and improve the lives of people suffering with mental ill-heallh. physical disabilities and special needs. The main aim of the Charity is to enable its dients to improve their lives through accessing the seNices it delivers. The main activities undertaken to further this aim are= to demse with each client a personal development programme" the provision of a wide range of confidence building 1beIng adivities v4hich are designed to improve and address physical and menlal ilkheatth: to provide indi1dUal cour•selling services enabling dienls lo build personal lechniques to manage and improve their menlal ill-health- to provide the opportunty to participate in a supportrve worf( environment wlh a variety of vocalional traning appli¢ations', to offer a range of ocLvpational based aclivitses leading to in(xeased confidenc£ and the potential to acquire and sustain employment. to enable dients with complex needs to access a more unified set of 5eNices from multiple provider organisations through projects such as Bridge the Gap., and to provide advice and support for those accessing fijrlher educational opportunities andlor work placement training induding training in CV writing. job seardi skills, personal presentalion, interview techniques and the development of employment application& The Charity measures ils perfomiance against its objects thnjugh the improvements in the mentsl health of its clients. princ4pally by using tre Recovery Star (for mentsl heath arKI YlIbeIng), and by the use of semi4nnual client suNeys to lake stsGk of the eXpenCeS armj views of ttM)se acsIng its services and participating in the activities it provides. The servi$ and acbvibes provided by the Charity are delivered with the invaluable rnpth of its volunteers, to whom we are very graleful for Iheir supporL Volunteers out roles sh . working on a one-tOne basis in our IT training area: a STnall number of (r counsellors, post qualification, provide a few Fmjurs of counsellirw each weeK four volunteers cover the organisation's Repti( across the course of a week. we have occasional input and guidance from a volunteer teadiing literacy and numeTacM,' and a number of volunteers who offer support to our fundraising events on an ad hoc basis. The Trustees are satisfied that these adivities aTe cJried out for public benefft, havlng due TegaTd for the guidance given by the Charity Commission.
OAKLEAF ENTERPRISE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perforniance Duiing the reporting period the Charity has undertaken 2.028 counselling sessions SUPPOrting 200 dients. All dient attendanS are held and trathed through Lamplight. the organisation's dient database. From general dient surveys and speafic surveys comparing pre and post counselling sessions we know that the PTOViSion of counselling, (up to a maxtmum of 18 sessions), made a significant differen to the wellbeing of our dients. IAfjth the expanwon of the senti8 to meet ongoing need and increased complexty of work we recruited three qualified counsellors who now manage 23% of all sessions attended, the rest being provided by trainee counsellors under dose supeI810n. A range of wellbeing acbwts.es have been delivered during the period induding yoga. tsi-thi. liieraw and numerary. football. mindfulness and lfjck Start a physical fithess programme all of which ha¥e engaged a total of 325 dients across the year. Suw results deaty show that the altendance of aLtivity sessions enables dierts to build confiden, improve seff-esteem and also to meet with others Ihereby reducing their social isolation. 259 dients have been recorded on Lamplight arKI supported by the Charity's Employment Project of hOM in the region of 49 have gained sustainable employment Such outcomes are again tracked through Lamplighl and additionalty logged in an Excel programme. Mentsl ill-health has been shi)Ydn to redu significantly a person's abilty to find and suslain employment, so suppcyting those dients who are able - and aspire - to rettAm lo the Workace. is a key aim for the Charity. Client surveys and Recovery Star are the Iwo key meck8MS by Ythich Ihe Charity measures Its perfomiance against its stated aims. During the reporbng period ts¥o client surveys have been undertaken. We are delighted that we had more respondents than the prior year. An average of the Iwo survey results Show Ihal 81 % of our dients fell more confident through attending Oakleaf activities 82% of dients fdt less isolated 61Okn of dients felt that attending Oakleaf inyoved Iheir mental wellbeing Clients consistenty give positive feedback about the daily ylIbeIng prograrrwne and the Charity continues to Use this infom)ation to shape and plan future activities. Despite the ffinanoal constraints and feelings of anxiety many of our dients are facing. feedback suggests they value facevto-face interaction. As a result, thè Chanty is taking further steps to address isolation. such as hosting free wdlbeing cafe sessions eath weeK to drive an incrEase in dients retuming to its premises and helping to redu so(aal isolation. Through the use of surveys, by recor<fin9 attendce levels and by reviewing the Charity constsntly monitors the effectiveness of its activtties and setvices. Fundralslng pollcy and actlvldes The Charity is registered wilh the FundraisTng Regulator and adheres fully to its code of practice. This code alongstde the Charity's own "Ethical Fundraising Policy. is monitored and remewed annually by the Trustees and encompasses: fundraising general behaviwr asking for support • inlonning donors and treating people fatrfy Our Ethical Fundraising Pdicy ensures we do rN)t rOmISe our mission and values when raising fvnds. This policy govems the acceptance of funds by the Charity. The Charity will not accept funds where in doing so: It could be unlalUl,. 11 is contrary to our charitable objecttves- 11 would have a detrimental impact on our awrent and prospedive dients" 11 would detiimentalty impad our reputation or )erlOnS. We have good reason to believe a prospedive donor is in vulneraLqe (irCumstans. With the exc£pts"on of public donations at organised events, the Charity reviews all potential donors and donations to ensure that they comply wth our policy statement. The Charity does not engage wtlh thiTd party organisab'ons or extemal professional fundraisers and only raises funds through the endeavours of ris ovm staff, whether pemanenuy employed or managed direcuy under short-temi contrads. and volunteers. No complainis regarding its fundraising actNities have been received by the Charity.
OAKLEAF ENTERPRISE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Fund raising policy and activities (continued) The Charity raises income through the following methods. The Charity dc)es not ulilise door to door or streel collections. ' grants from GovemmenL trusts. foundations and other bodies events & communty fundraising Individual and corporate giving & legacies The Trustees are hugely grateful for the genero%ty of the publio organisalions anil her funders who helped the Charity raise £0.974M in 2023124. This IrMe can be split as foll:. grants from Govemment. trusts. foundations and other bcleS £0.616M • evenls & organised fundraising activities eg. London Marathon £0.138M individuallcorporate giving and legacies £0.057M training & other trading acts"vities £0.152M olher income £0.016M Overall the Charity spent £1.055M (before depre(#ation) in 2023r24. Of this £0.568M was spent directty on support for clients with POOT mental hearth. described ejsewhere in this report. The rernaining am¢wnt is spent toward5 running the Charity. including fund raising aclivilies and planning for the future. Financial h8adltnes Includlng ovepvlew of fundralslng The 2023124 finanaal year was a challenging one with rising costs and a diffi(JJlt fun&Taising environment. The Charity had anticipated this and budgeted for a £90,581 defi(it after deprectation. FdraISing income saw a 9.5D dedine against a strong perforn)an in 2023 that induded some one-off incomè. Overali. with prudent cost management the Charity wa5 able to deliver a deficit under budget of £80.013. Income for the year fell to £974.227 (2023 - £1.076.218). This fall in income was primarily due to a drop in income from Grants and Charttable Trusts. and the ontroff income delivered a5 part of the Oakleaf 25th Anniversary black tie Gala event in 2022r23. A plan has been impyemented to ium around the drop in Grant and Charitable Trust income to try to bring it back lo 2022r23 levels. and to diversty our fvndraising income streams further, but Vth the Safe Haven income at rtsK the budgeted income for the year 2024r25 has been forecast to be flat. A full breakdown of costs is provtded later in this report but 1he headline nel exp8nditure figure for the year was £1.062.014 (2023 - £1.016,655). This increase As a iesult of costs associated wilh the Bridge the Gap project and fundraising events, as well as an uplrft in staffing leve15 and adivities that have been required to support a dient base that has continued to increase during the period. Overall this has resulted in a small deficit for the year of £60,013 (2023- surplus £55.377). Reserves The Charity operates a reserves poficy which aims to rreet four months of running costs, during the reporting pertod the average four months. rnnning cost was £354.005. Any capital requirements are always met through grants and as such would be delayed until ring fenced funds were identtfied. The fund at the end of the year stood at £442.202 12023: £502.215), cornprising £344.599 in unrestricted fd8 and £97.603 in restricted funds. The unrestrtcted amounl is approximately four months. running costs. The Trustees will continue to monitor the reserves policy as another deficlt of £125.000 is budgetsd for the 2024125 year. The aim is to half this deficat in the 2025r26 financial year as part of a goal to retum to a baland budgeL
OAKLEAF ENTERPRISE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Inveslm8nt policy The Charity has implemented a comblned financial management and investment policy. The poliGy governs the way the Charity manages its finances to rneet its stated objectives and to safeguard the funds TequiTed to Meet its operational needs. The policy ensures that finan8 are managed in alignment wbth its ethical and environmental polioes. The primary invesiment obJ"ective is to protect the Charws long-tem funds from the effects of above bank- interest-rate inflation. As at the repoTbng period the only long-term investment fund approved for investrnent is the COIF Charities Ethical Investment Fund. At the end of the reporting period the arrKwnts held were as fc41 N¢Jn- interèst bearing cash £51.900 Interest Bearing savings £191,418 Investrnent Funds £237.036 Risk management The Trustees are aware of their responsibilities under SORP 2019 IFRS102). They maintsin a risk rgjister for the Charity and regularty review (at least annually} the risks that the Charity faces. The Trustees have PLrt in place a number of policies and procedures the Charivs activities. These policies and procedures are reviewed at least annually. The TTUStees have agreed a risk appeiite. which acts as a framewo for all decision making at the Charity. In summary, the overall risk appetite that the Trustees are willing to take is low. However. the risk appetite distinguishes beteen the different risk categories as regards the level of risk tolerance that the Trustees are wslling to tske. The risk appetite for legal. regulatory compliance and reputational risks has been set as being very low. Financ4al. technological and people risks have all been set as low. and strateg'¢. operational and fundraising risks have been set as medium. At the time of this report, the Trustees perceNe the principa risks and uncertainties that the Charity faces are.. 1. People.. Our top three risks all concem pe& as fundamentally, the Chaiity is all about people. from the staff we employ to our dients that we support. Vve have a dedicated team of staff, some of whom have been long serving and have developed and nurtured relationships within the community and have considerable -corporate knowledge". not all of which could be enshrined in the Charity's procedures for Someone to pick up in their absence. As part of a new strategic objecve that the Twstees have put in place and to hdp mitigate against such rtsks mentioned, Ihe Charity now ha5 a Deputy CEO who is being mentored atvj developed to take on more of the CEO'S work. The other senior team members all have training and development plans in place, to ensure that there are at least two team members who can perform a task. thereby removing reliance on key team members, and enabling the Charity to continue to provide its valued serwces to our clients not just for today. but for tomorrow as well. Finally. as part of the strategic objective, the senior management team members now regularly engage directty with the Board regarding their own funcliM weas and the strategic developThnt of the Charity. 2. Premises: A significant part of the Chariiys activities are about socxal indusion and (x)unselling and whilst we are able. espeoally as was the case during the pandemic, to provide online activities, there is nothing better than our dients being able to have a place to come lo, to meet other5, participate in activities or just see a friendty face. The Chaiity has been al its Guildford site (Walnut Tree Close) since inception. Ythere many of the acbvits.es tske place. although in Tecent times we do have some outread) locations as Y11. The Guildford site, whilst convenient for access by public transport, is vitally important as many of our dients have limited means. the site is far from ideal, as the building is old. needs constant maintenanc, its layout is disjointed and has been prone to fiooding on a few occasions by the neighbouring River Wey. The Guildford site is leased and Sin 1 October 2021, either the landlord cr the Charity can give nine months, notice to terninaie the lease. The duralion of the lease is until 30 ne 2026 and, therefore. there is a signfficant risk that the Charity might have to find altemative premises for its activities at relatively short notice. either due to nabjral disasters or the landlord serving notice. The Trustees have been keeFing under cloge rewiew the property needs for the Charity. and have engaged a propety agent to keep a wats*ing brief. on its behalf. of new woperties coming onto the market in the Guildford area that might be suitable for the needs of Ihe Charity. The Trnstees also have a higlFlevel contingenGy plan that they can deploy in the event that the landlord serves notice to tenninale the lease resulting in the Charity having to vacate the c4Jt Guildford sile wior to haviNJ new premises arrdnged.
OAKLEAF ENTERPRISE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk management {continued) 3. Funding: the Trustees no longer consider funding to be one of the Charivs top risks, but Ihe amity to finance the Charity's operations is. obviousty. essential. The Charity has at least four months. Vrth of financ121 reserves in place in order to finance its activÉtie& The Trust review at each Board meeting the management accounts together with a fvnding report of donations and grants reived, applications grants made and anticipated donations to be received and the likelihood of ihem being received. If necessary, the Trustees will take aclion should there be signfficant variations to budget or forecast, Decision making Wrth the exception of Ihose items defined in the Charity's 'Matters reseed for the Board, document the Board has delegated all decision making to the CEO and the Charity's senior management team. The Board has appointed a Remuneration Committee. ci)mwised of a minimum of bNo trustees. that reviews recommendations made by the CEO on salary and bonuses for the Charity's staff members. Local information on salary levels is utilised by the CEO to benchmark appropriate salaries for the ditTerent roles withn the Chanty's staff structure. The Remunetation Committee is also responsible for reo)mmending thanges to the CEO'S salary for approval by the Board. Salary changes are approved as a part of trie annual budgeting process. Plans for future poriods The Trustees have approved a new fve year strategic set of obiecbves to address the Charity's biggest risks and to strengthen the offering to its clients in the coming years. Key areas of the strategy are... To secure new long-temi Fywnises to give assurance on the Charity's I110 to it5 dients. To diversify and increase lunding to support the ChariVs growing client base. To strengthen the skills of the Charity's core staff to address key person risks. To improve and enhano the Charity's data capabilities to assist with reporting. impact analysis and measuring perfOnan against objedive& To broaden the Charity's reach. both geOaPhIcalty and demographicatty. to ensure Oakleaf can serve all ts dients who need its suppo Over the last three years the Charity has been running an employment project. The susS of this project has led to Oakleaf reIving another significant 5 year grant from The National Lottery Fund. This time Oakjeaf will expand the employrnenl project by working in partnership with anolher local charity, Guidtford Action. offering employment support to dients of both charities. In August 2024. the Charity was also delighted lo re1ve an Endowment of £250,(X)O from the EdwaTd Gostling Fund. Structurey govemance and management Oakleaf Enterprise is registered as a company Mited by guarante8 (Conwany No. 03388671) with the Charities Commission (Registration No. 1064524). The Charity has adopted its Memorandum and Artides of Association in accordance with the Companles Act 1985. as its goveming doc¥menl when it was incorporated on 18 June 1997. The most recent Artides of Association were adopted by special resolution on 23 May 2016. In the event of the Charity being wound up, members will be required to contritrArte a sum not exceeding £1 per member. Subsldlary undertaklng Oakleaf Enterprise has a subsidiary Oakleat Enterwise Trading Limited (Company No. 10128893). This Subsidiary was incorporated in 2016 and has been dormant ever Sin incorporatim. There is one share of £1 in issue, Vdhich is owned by Oakleaf Enterprise. In the event of Ihe Subsidiary being wound up. Oaldeaf Entetwse will be required to pay for its share (ie. £1).
OAKLEAF ENTERPRISE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dlrectols of thè organlsatlon and oryanisati0Thi1 structure The Charity is headed up by 115 Board of Trustees. The Trustees are also membets of the thatitable company. The maximum number of members of the charitable company 18 100. The Trustees of the Charity are also Directors the purpose of company law. At eath Annual General Meeting on&third of the directors or, if their number is not three or a multiple of three. the number nearest to one-third must retire from office. The Directors to lre by rotation shall be those who have been longest in the Offi since their last appointment. If any directors became or were appointed Directors on Ihe same date. those to retire shall (unless otherwise agreed among themselves) be determined by bt. The Directors during the year under review. and those apwinted wce the year end vRre: Mrs LAndrews Mr R Wmaybury Mr P J Bevan Mr J W lfjndell Mrs A Feeney Mr M Harrison CllrA M Goodwn Mr A Lilleyman Mr R M Lloyd Mr S KA Mithell Ms A Bampou (Resigned 11 March 2024) (Appointed 27 July 2023) (P4)pointed 25 July 2024) Re¢ruilment and appointment of nèw Trustèes The Board seeks to recruri new Tnjslees to bala1 various skills required to manage the Charity. All prospective Trustees are recnjtled Ihrough the organisation's Trustee Recruitment Poliw. Traditional business skills are required as well as an understanding cf mental health and 1he effects it can have on those tying to live and work in so(3ety. The Board is aware of the principles set out in the Charity Govemance Code ard. in particular. Principle 5 on Board effeivenesS and the need for the Board to ensure it has the right mix of skills and knowledge. Further. the Board is aware of the need lo refresh prouressively the Board. in order to tffing in new blood V4fjth new ideas and perspectives. The Code states that Trustees. vtho have served for more than nine years. should be subject to a parttcular rigorous review. Whilst there has been natural refreshing of the Board. Mr J W Ffjndell has now served on the Board for more than nine years and Mrs L Andrews. who was first appornted to the Board in NOVemr 2017, has Chaired the Board for more than five years now. Mhth this in mind, the Tru8lees speaficaity met to discuss the Continuan in Offi of both Mr lfjndetl and Mrs Andre5. with neither Mr Kindell nor Mrs Andrews pwiicipating in the dissIon on their own respedive appointm&rt. The Trustees are of the opinion that both Mr Kindell and Mr8 Andrews remain effective and bring independent thallenge to Ihe Board and are happy for bolh to continue io serve on the Board. The Board has the power at any time to appoint ary person to be a Trustee. either to fill a casual vacancy or an addition to the existing Twstees. but so Ihat the lolal number of Trustees shall not at any time exceed fifteen, being the number fixed in accordance Ihe Arbdes of the Charity. All new Trustees are welcomed into the organi5alion and an induction programme is facilttated ere they spend time with each departrnent lead. to gatn a greater understanding of how front-line seNices a dellvered. Further insight is provided into all back-office factlities induding fundraisirvJ and marketing. Tiaining 15. by necessity. tailored lo individual needs dewding on Ihe kn(wAedge gaps and experien of the inthvidual involved. Auditor In accordance with the Charity's Artides. a resolution proposing that Moore (Swth) LLP be reappcAnted as auditor of the Charity will be put at the Annual General Meeting.
OAKLEAF ENTERPRISE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of infom)ation to auditor Each of the Trustees has confirmed that there is no infomiation of which they are aware whith is relevant to the audit, but of which the audilor is unaware. They have further cA)nfirmed that they have taken appropriate steps to identity such relevant infonnalion and to establish that the auditor is aware of suth information. The Trustees. Report was approved by the Board of Trustees. rs LAndrews TNstee 10-
OAKLEAF ENTERPRISE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the direclors of Oakleaf Enterprise for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniied Kingdom Generalty Accepted Accwnting Pradice). Company Law requires the Trustees to Prepare financial statements for eath financial year whicj) give a INe and fair view of the state of affairs of the Charity and of the incomtng resources and application of resources. induding the income and expenditure. of the tharitable company for that year. In preparing these fjnancaal statements. the Trustees are reqimred to: - select suitable accounting pdi¢te5 arKI thwt appty I1M Consistently: - observe the methods and principles in the Charilies SORP" - make judgements and estirnates that are reasonable and pwden( and - prepare the financial slatements ¢)n the going concem basis unle55 it 15 inawlropriate to presun that the Charity will ntinue in operation. The Trustee5 are responsible for keeping adequate accounting record5 that disd05e rytti reasonable accuracy at any time the finanaal p0SOn of the Charity and enable them to ensure that the finanal statemerts mplY wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity arKI hen for taking reasonable steps for the prevention and deteCtIc of fraud and other irregulafities. 11
OAKLEAF ENTERPRISE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF OAKLEAF ENTERPRISE Opinion We have audited the financial statemenls of Oakleaf Enterprise (the 'charitable company) for the year ended 31 March 2024 which comprise the statement of financial activities. the balan sheet, the statement of cash flows and notes to the financial stat8m8nts. induding Significant accounting poliaes. The finanaal retx)rting frameworf( that has been applied in their preparation is applicable law and United Kingdom Accounling Standards. including Financial Reporting Stsndard 102 The Financial Reporting Slandaffj applicable in the UK and Republic of lTrland (United Kingdom GenerallyAccepted Accounting Practice). In our opinion. the finanaal stalement& give a true and fair view of the state of the charitable companvs affairs as at 31 March 2024 and of its incoming resources and apIcatIon of resources. for the year then ended: have been property prepared in accordance with United Kingdom Generalty Accepted Accounling Practi. and have been prepared in accordan with Ihe requirements of the CharitiesAct 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol the financ1 statements seclion of our report. We are indeperKlent of the Charity in accordance with the ethical requirements thal are relevant to our audil of the financial statements in the UK. induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Vve believe that th6 audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financiat statements. we have concluded that the Trustees, use of the going concem basfrs of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or colledively. may casl significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our resp)nsibilities and the resp(ffisibilities of Ihe Trustees with respect to going COnM are described in the relevant Sections of this report. other inforniation The other information Comprises the information induded in the annual report olher Ihan the financial statements and our auditorfs report thereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion th8reon. Our responsibility is to read the other inforniation 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 audrt. or otherwise appears to be materially misstsled. If we identfy such materkal inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise to 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 other information, we are required to report that fact. We have nothing to report in tINS Tegard. Matters on which we are required to report by oxceptlon We have nothing to report in respect of the followitvJ matters in relatton to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion: the informalion given in the finanaal ststements is inconsistent in any material respect with the Trustees, report., or suffiaent accounting records have not been kept or the financial statements are not in agreement viith the accounting record5: or we have not reIved all the infomiation and explanations we require for wr audit. 12-
OAKLEAF ENTERPRISE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OAKLEAF ENTERPRISE Responslbllltles of TThtee5 As explained more fully in the statement of Trustees. responsibilities. thè Trustees, are also the direclor5 of the Charitable Company for the purpose of Gompany law. are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view. and for such irrtemal control as the Trustees detennine is necessary to enable the preparation of financaal stalements that a free from material misstatemenL whether due to fraud or error. In preparing the financial statements, the Tiustees are reSpOnb]e for assessing the chaTitable ¢ompanWs ability to continue as a going concem. disdosing. as applicable. matters related to going con¢em and using the going nrn basis of accounting unless the Trustees either intend to liqutdate the charitable company or to cease operation$. or have no realistic altemative but to do so. Auditor'5 responsibilities for the audit of the financial statements We have been 8ppointed as auditor under section 144 of the Charities Act 2011 report in accordan with the Act and relevant regulations made or hamng effert thereunder. Our objectives are to obtain reasonable assurano about whether the financial statemenls as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditofs report that indudes our opinion. ReasOnae assurance is a high level of assuran but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise from fraud or error and are considered malerial rf. indimdually or in the aggregale, they could reasonably be expected to inlluence the economic decisions of users taken on the basis of these financial statements. A furlher description of our responsbrlits'e5 TS available on the Financtal Reporting Coun(xl's website aL' https:11 .froorg.uklauditorsresponsibililies. This description forms part of our auditors rÈport. Irregularities, induding fraud, are instan$ of non-rnmpliance wrth laws and regulation5. We design proc*dur8s in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities. induding fraud. Explaination as to what 8Xtont tha audlt was consldeved capable of detectlng ltrregularities, including fraud The objectives of our audit report in respect of fraud, are to identsfy and assess the risks of material misststement of the finanti81 ststements due to fraud: to obtsin sufficient appropriate eden regarding the assessed risks of material nwsstatement due to fraud. through designlng and implementing appropriate responses to those assessed sks," and to respond appropriately to instsnce5 of fraud or suspected fraud identified during the audit. However. thé primary responsibility for the prevenlion and detection of fraud rests witrt both management and those charged with governance of the charitabte company. Our approach was as follows: The engagement partner selected a team for the audiL led by persons who it VRS deemed had sLclent experience. along with thé required Gompetence and skills to be able to identify or recognise non-compliance with laws and regulations. We assessed the risk of irregularities as part of our audit planning. and ongoing review. indudld ih09e duè to fraud, management oveIde was identified as a signthcant fr¥Jd risk This is due to the ability to bypass )ntrols and manipulate the ac£ounting W0"e8 adopted. In addition to the possibilty of management overrid8 of controls. revenue recognition was consldered a significant risk due the timing of the grant funding and donatims received. We obtained an understsnding of the legal and regulatory requirements apF¥icable to the charitable company and considered the most signifiG9nt to be Charities Act 2011, the Charity SORP, Companies Art 2006, UK financial reporting siandards as issued by Ihe Finanraal Reporting Councrl and UK tax legislation. V¥ considered how the ¢haritable company complies with Ihese rewiremerbts by discussions with managent and those thaTged with govemance. 13-
OAKLEAF ENTERPRISE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OAKLEAF ENTERPRISE We enquired of managemenl and those tharged wilh governance as to any kn•M instance6 of non- compliance or suspected non-cofnpliance wtth laws and regulations. Consideration was also made of the intemal controls in place to mitigate identified risks. We assessed the control enVIrcMent, documenting the systems. (atrCIS and processes adopted. The audit approach in(x)rporated a combination of anatyliG31 review and subStari procedures involving tests of transactions and balances. kny irregularities Th)led were discussed with management and additional corroborative evidence was obtained as required. In response to the risk of fraud through managemert override we". pthrmed anatylical procedures to identify any unusual or unexpected relationships. tested joumal entries to identity any unusual transactions" assessed whether judgement and a55umption5 made in detemiining aixounling estimates wère indi¢2tive of management bias: and reviewed the disd05ures in the financial statements to ensure that they meet the requirements of financial reporting standards and relevant legislatio To ad(15 the risk of completenes5 of income . _ tested a sample of grants to supporttng doajmentation wnfirning Irome o)The¢ty aCUnted for.. tested grants and donations received around the ye2* end. ensuring cut-off appropriate applied; and agreed a samtle of deferred income to supportng documentalion. To address the risk of dassification of inc(Jne between restricted and unrestrided we: agreed a sample of inwne rerded In the nominal ledger to source documentation to ènsure any restrictions were corray identified. agreed a sample of expenses inoJrred to ensure that they had been alk>ted to the appropriate fund" and ctrbtained and reviewed fund analysi5 workings to ensure that the calculation5 werB COeCt and agreed to the accounting recon15. There are inherent limitations in ow audit procedLres deseed above. The more removed that laws and regulations are from finanoal transadions. the less likely it is that we would become aware of noTrcompliance. Auditing standards also limit the audit procedures required to identify non-compliance wth laws and regulations to enquiry of the directors and other management and the inspection of regulartty and legal correspondence. rf any. Material misstalernents that arise due to fraud be harder lo detect than those that arFse from error as they may involve deliberate sxncealment or collusion. We corrllnunicate with those charged with governan regarding. among other matter5, Ihe planned scope and timing of the audit and significant audit findings. induding any signfficant deficlencies in intemal controls that we identfy during OUT audiL 14-
OAKLEAF ENTERPRISE INDEPENDENT AUDITOR'S REPORT {COlNUED} TO THE TRUSTEES OF OAKLEAF ENTERPRISE Use of our report This report is made solety lo the tharitys trustees. as a body. in a<xordance wrth part 4 of the Charities (Ac¢ounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's tW8tees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fvjllest extent pemiitted by law, we do not accepl or assume responsibility to anyone other than the chaiity and the charity's trustees as a body. for our audit worK tr tFtis reporL or for the opinions we have fomied. trkxye LU) Moore (South) LLP Chartered Accounlants Statutory Auditor Suite 3. Second Floor Friary Cowl 13-21 High Street Guildford SUeY GU1 3DG Moore {South) LLP is eligible for appointment as auditor of Ihe Charity by virtue of its eligibilty for appointment as auditor of a company under section 1212 of the Companies Act 2006. 15-
OAKLEAF ENTERPRISE STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE AccOur FOR THE YEAR ENDED 31 MARCH 2024 Current financial year UnTestiictod Restricted funds funds 2024 2024 Total Total 2024 2023 Notss d endowine Donalions and legac4es Charitable aclivities Other trarfing activities Investments Other income 216,903 116.287 52.515 22,024 237 170.897 394,814 387,800 511,101 53,065 22,024 237 446,026 522.934 87,169 18.707 1.382 Total Income 407.966 566.261 974.227 1.076.218 Raising funds 134,223 13.263 147.486 145.269 Charitable activities 375.087 539.441 914,528 871.386 Total expendltu 509.310 552,704 1.062.014 1,018.655 Net gaIn{lo$S0sj on investments 14 27,774 27,774 (4.188) Net (outgoing)lincomlng resources before transfers (73,570) 13.557 (60,013) 55.377 Gross transfers between fund8 25 3.939 (3.939) Net movement in funds {69.631) 9.618 {60.013) 55,377 Fund balances at 1 Wil 2023 414.230 87.985 502.215 446.838 Fund balances at 31 March 2024 344,599 97.603 442,202 502.215 The statement of financial activities indudes all gains losses recognised in1he year. All Iome and eXndItre derive from continuing aclivities. The statement of fjnanc4al adivities also Complies with the requirements foT an income and expenditure ant under the Companies Act 20Cfj. 16-
OAKLEAF ENTERPRISE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestrfcted RestrfGted funds funds 2023 2023 Total 2023 hlotes Donations and legacies Charitable activities Other trading activities Investments othw income 293.568 114,985 86.169 18.707 1.382 152.458 407.949 1,QOO 446.026 522.934 87,169 18.707 1.382 Total income 514.811 561,407 1.076.218 Raising ndS 134,487 10,782 145,269 Charitable activities 330.625 540.761 871.386 Totsl expenditure 465,112 551,543 1.016.655 Net gainsloosses) on investments 14 {4.186) (4.186) Net (outyoing)Ilncomlng resources before transfe 45.513 9.864 55,377 Gross transfers beiween funds 25 2,337 (2,33n Net movement in funds 47.850 7.527 55.377 Fund balances at 1 ArKil 2022 366.380 80.458 446.838 Fund balances at 31 March 2023 414.230 87,985 502,215 17-
OAKLEAF ENTERPRISE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 16 17 5.400 237,035 5,703 209,261 242.435 214.984 Current assets Stocks Debtors Cash at bank and in hand 19 1.891 46.025 243.318 6.681 61,175 362,170 291.234 430,026 Creditors: amounts falling due within one year (91.467) (142.775) Net current assets 199.767 287,251 Total assets less current liabilities 442,202 502,215 Net assets excluding pension Ilability 442.202 502,215 The funds of the Charlty Restricted income funds Unrestricted funds 25 97.603 344.599 87,985 414,230 442.202 502,215 The charit2bl8 company is èntitled lo Ihe èxemption frcffn the aurfrt requirement coniained in sectlon 477 of the Companies Act 2006, for the year ended 31 March 2024. although audit has been Carried wt under sectton 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Ad 2006 with respect to accounting records and the preparation of finan(ial statements. The members have not required the charitable compary to oblain an audit of its financial statements under the requirernents of the Companies Act 2006. for the year in qu8stion in accordance with section 476. These ffinanoal ststements have been prepared in accordan with the provisions applib]e to companies subiect to the small companies regime. The financial statements were approved by the Trustees on . Mrs L Andrews Trustse Cornpany registration number 03388671 (England and vleS) 18-
OAKLEAF ENTERPRISE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng acllvltles Cash (absorbed byygenerated from operations 29 (134.255) 34.312 Investing activities Purchase of tangible fixed assets Proceed5 from disposal of tangible )Ixed assets Inveslment income received 16 (6,621) (2.962) 617 18.707 22.024 Net cash generated fr(xn Invegting activltles 15.403 16,362 N8t cash used in financing activities Net (decrease)lincrease in cash and cash equivalents (118.852) 50,674 Cash and cash equivalents at begTnning of year 362.170 311.496 Cash and cash equlvaleits at end of year 243.318 362,170 19-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policios Charity information Oakleaf Enterise is a private company limited by guararrtee incoTporated in England and Wales. The registered office 1$ 101 Walnut Tree Close. Guildford. Surrey, GU1 4UQ. The charitable company's directors are also its TTUStees for the purposes of charity law. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 1.1 Accounting convention The finaneial statements have been prepared in accordance Vh Ihe Charitys goveming docLAment, the Companies Act 2006. FRS 102 "The Financial Repcrting Standard applicable in the UK and Republic of Ireland. fFRS 10Y) and Ihe Charities SORP "Accounling and Reporting by Charities: Statement of Recommended Pracb'ce applicable to thariiies preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (effeclive 1 January 2019). The Chality is a Public Benefit Entity as defined by FRS 102. The financial statements are wepared in sterling, whith is the functional cUrrer of the Charity. Monetary amounts in these financial staternents are rounded to the nearest £. The financial ststements have been prepared under the historical cost conventlon, modified to include the revaluation of investments at fair value. The prinrApal accounb.ng policies adopted are set out below. The charitable c(bmpany has tsken advantage of the exemption under sedion 405 of the Companies Act 2006 not to prepare consolidated ac(x)unts. The finanaal statements present infomialion about tha charitable company as an individual entity and not about its group. 1.2 Golng concem The accounts have been prepared on a going concern basis. However, the nature of the Charity means that forecast future income cannot be determlned wtlh any certainty. as the Charity is reliant upon applications for grant funding and the Trustees are aware that suth grant applications are not always successful. The Trustees continue to monrtor the application pro(Ess and to seek altemalives, should any applications prove unsu¢cessfvl. Donations from indiwduals and corporate enbbes are also hard to predict. These are carefully monitored through discussions with management and Teview of the monthty accounts. In August 2024 the Charity received an EndowTnent of £250.000 frc4n The Edward Gostlin9 Fund. 1.3 Charitable funds UnrestrbCt6d funds are available for use at the discretion of the Trustees in furtherance of the Charity's objectives. Restricted funds are subject to specifK condiiions by donors or grantor5 as to how they may be used. The purposes and uses of Ihe restricted fvnds are Set out in the notes to the financial statements. 1.4 Income Income is recognised then the Charity is legally entilled to it after any perfc*mance t>)nditions have been meL the amounts can be measured reliabty. and it is probable that income will be received. -20-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Continued) t)onations represent income from general donation& These are accx)unted for when received or when Ihere is certainty that they will be received. Grants represent income from Local Authori. other statutory bodies and trusts. Grants are accounted for when they are received or when any perfomiance related condrtb)ns are met. Rental income is aGcounted for on an accruals basi5. Event income is accounted for n the year in vthich the event is held. Interest r1vable is accounled for on an acuuals basis. Donated gifts for audions are recognised as incx)me vlhen they are received. 8nd are valued at the equivalent market V81ue. A crxresponding amount is then recognised as expenditu when the items are sold at auction. In accordance with the Charities SORP (FRS 102), volunteer time is not reco3nised. 1.5 Expendtture Expendtture is recognised once there is a legal or rxJnstnJcts"ve olgatiOn to transfer economic benefit to a third paty. it is probable that a transfer of eCioMiC benefrts viill be required in settlemenL and Ihe amount of the oblioation can be measured reliably. All expenditure is acoounted for on an accfuals basis and is indusive of irrecoverable VAT. ExpeNfiture is recognised when there is a legal or constnKtive obligation to make payments to third parties. tt is probable that settlement viill be require(l and the Obligati Can be measured reliably. As described in the Report of the Trustees. the Chaiity's principal activity is the support of people Vth Tnental and physical health difficulties, induding those wilh special needs, through the development of skills and WOTk placeTnent Iraining. All costs incajrred in the training and development of thes6 skills are allocated btheen cost of raising funds. direct tharitable expenditure and sur4JOrt costs. Expenditure 15 dassified under the following activty headings: Costs of raising funds. comwising Ihe costs relaling to donations. grants and their assooated support ¢osts. Expenditure on charitable acttvities, corryjrising the costs of ddivering services and other activities undertaken to further the p)oseS of the Chanty and their assocaated support costs. Support rsts are those c£ts +hICh assist the work of the Charity but ¥e not directy related to tharitable actiwties. Support costs indude general property maintenance. IruranCe, salayies and administrative expenses. These ¢0sts are allo¢*ed beiween costs of raising funds and provision of iraining and acttvibes on the following basis: Ba818 of Allocation Square footage Payroll (FTEJ Payroll (FfE} Payroll (FfE) Propety and general maintenance Insurance General salaries, rernjitment and penslon costs Administrative costs 21
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (corINUED} FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continuod) 1.6 Tanglble fixed assets Tangible fixed assets are intliauy measured at cosl and subsequently measured at cost 01 valuation, net of deweciation and any impairnient losses. Deweciation is recxjgnised 50 as to write off the cost OT valuation of assels less their residual values over their usefijl lives on the following bases: Plant and machinery Motor vehides 3 years straight line 5 years straight line The gain or loss arising on the disposal of an asset is detemiined as the difference belrnn the sale proceeds and the carrytng value of trie asseL and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at trdnsadion price exduding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in lair value are recognised in net incornel(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the Charity. Control is the pov to govem the financial and operating pc4i(ies of the entity so as to obtain benefits from its activities. 1.8 Impairnient of fixed assets At each reporting end date. the Charity reviews the rryIng amounts of its tangible assets to determtne whether there is any indi¢2tion that those assets have suffered an impairment105s. If any such indution exists. the recoverable amount of the asset is estimated in order to determine the exlent of the impairment loss (rf any). q.9 Stocks Stod(s are stated at the lower of rx)st and net realisable vaue. after making due allowance for obsolete and slow moving objects. Net realisable value is the estimated selling price less all eslimated costs of completion and costs to be incurred in marketsng. selling and distribulion. 1.10 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call wtth banks. other short-terrn liquid investments with original maturities of three mnths or less. and bank overdrafts. Bank overdrafts are shomni iihin borrowings in curTent liabilities. 1.11 Financial instrumènts The Chanty has eleed to apply Ihe provisi5 of Seclion 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its fjnancial instruments. Financial instruments are recogni5ed in the Charity's balan sheet en the Charity becomes party lo the contractual provisions of the instrument. Financial assets and labilities are offset, the net amounts pRsented in the finanrial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to 8ettte on a net basis OT to realise the asset and selue the liabilty simultaneously. -22-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollGies (Continued) Basic financial assets Basic financial assets. which indude debtors and cash and bank balances. are initially measured at transaction pri induding transaction costs and are subsequently L31fied at amortised I)t using th& effective interest method unless the arrangement constitutes a financing transaction, where the transaction 15 measured at the present value of the futu receipts discounted at a market Tate of interest. Finanaal assets dassified as receivable wthin one year are not amortised. Basic financial liabilities Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless the arrangement constituies a financing transathon. where the debt instrument is measured at the present value of the fijiure paymenis discounted at a market rate of interest. Financial liabTrlities dassified as payable wilhin one year are not amortised. Debt instruments are subsequenity rxrried at amortised cost using Ihe effeclive interest rate method. Trade creditors are obligations to pay for goods or Servi that have been ar4uired in the ordinary course of operations from suppliers. Amounts payable are dassified as rrent liabililies rf payment is due wthin one year or less. If not. they are presented as non-current liabt'lilies. Trade ueditors are Tecognised initially at transaction price and subsequenty measured at amortlsed cost usirvJ the eifective interest method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the Charity's ttraCtual obligaiions expira or are disdlarged or cancelled. 1.12 Taxation The Charity is exempt from corporation tax on its chwitable activbties. 1.13 Employee beneffts The cost of any unused holiday ttIernent is recognised in the period in whith the empEoyee's seIS are received. Tem)ination beneffts are recognised immedialely as an expense when the Charity is demon8trably MmItted to teminate the employment of an employee or to provide tennination benefits. 1.14 Retlrement benefits Payments lo defined ¢ontribull retirement benefft schemes are charged as an expense as they fall due. Critical accountlng estimate5 and judgements In the application of the Charity's accounting poticaès. Ihe Tnsstees are required to make Judgements. estimates and assumptions aboui the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and asscrtaated assumptions are based on historical experience and olher fa(knrs that are nSidered to be relevanL Adual results may differ from these estimates. The estimate5 and underfying assumptions aTe reviewed on an ongoin9 basis. Revisions lo acownting estimates are recognised in the period in vthith the estimate is revised vAiere the reVIOn affects cnly that pwiod. or in the period of the revision and future periods where the revision affects both cuThent and future peri¢)ds. The trustees do not believe there are any uitical accounting eiMate5 orjudgemen -23-
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OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitabla activilios Provision of Provision of training and trainlng and activities activitias 2024 2023 Development and tralning projects PerfOrrnan related grants for provision of training and activities 115.117 113.840 395,984 409.094 511.101 522,934 Anatysis by fund Unrestricted fund5 Restrided funds 116.287 394,814 114.98S 407,949 511,101 522.934 Perfomiance related grants - Restrlcted CataSyst- Safe Haven Project Catalyst- Peer Support Worker Project Catslyst- Communty Connections Proje£* Enterprise Development Programme (on behalf of Aecws- Foundation for Sccial Enterprise)- Social Enlerprise Project Social Enterprise Support Fund (via Unftd)- Soaal Enterprise Projed Catalyst- Young Adult Saf8 Haven Project National Lottery Community Fund- Pathvmys to Work Surrey County Council- B Ttdge the Gap Projec4 Surrey County Council - Bridge the Gap travel Surrey County Council - HOPE Project 58,978 12,263 58,080 59.032 10,760 58,080 9,249 32.569 39.465 112,763 80.031 37,435 131,430 86,450 10.178 6,000 394,814 407,949 Induded in the above are govemment grants totalling £96.628 (2023 - £86.031). -26-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other trdding activities Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restrlctsd funds funds 2023 2023 Total 2024 2023 Miscellaneous income Fundraising events Mental Health Training and counselling income 898 12.677 4,492 49,595 4,492 50.595 550 13.227 1.000 38.940 38.940 32.082 32.082 Other trading adivities 52,515 550 53.065 86,169 1.000 87.169 Income from invastments Unrestricted Unrastricted fund8 funds 2024 2023 Rental income Interest receivable 16.560 5.464 16,540 2.167 22,024 18.707 Other Income Unrestricted Unrestrlcted funds funds 2024 2023 Net gain on disposal of langible fjxed assets Other InMe 192 1.190 237 237 1,382 -27-
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OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendrture on charitsble activities Admln costs Admin costs 2024 2023 Dlrect costs Staff costs Deprec4atlon and impainnent Other costs for Provision of train9 and aclivibes 485,261 6.924 135.599 435.580 12,901 121.787 627.784 570.228 Share of support and governance costs (se8 note 11) Support Goveman 273,676 13.068 287,086 14,072 914.528 871.386 Analysls by fund Unrestricted funds Restricted funds 375.087 539.441 330.625 540,761 914.528 871,386 10 Net movement In funds 2024 2023 The net movement in funds 15 stated after thargIn(credIting). Fees payable for the audit of thantvs fmancaal statements DeprecÉation of OTred tangible fixed assets Lossl(profit) on disposal of tangitrAe fixed assets 10,500 6,924 9.950 12.901 (192)
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Support Gosts Support Governance osts Gosts 2024 Support Govornanc8 costs costs 2023 Staff costs Propety and general maintenance 134.089 134.089 158,671 158.671 111.815 6.476 51.887 111.815 6.476 51,887 102.689 6,653 51.482 102,689 6,653 51.482 Insurance Administrative c*>sts Audit fees Accountancy Legal and professional Trustee expenses 10.500 1.455 10.500 1.455 9.950 1.750 1.500 872 9.950 1.750 1.500 872 1.113 1,113 304.267 13.068 317.335 319,495 14.072 333.567 Anatysed belween Fundraising (See note 8) Charitable aciivities (See Note 9) 30.591 30,591 32.409 32.409 273.676 13.068 286,744 287.086 14.072 301,158 304.267 13.068 317.335 319.495 14,072 333.567 12 Trustees The Trustees did not receive any remuneration or other beneffts for the year ended 31 March 2023 (2023 - none). No Twstees (2023- none) were Teimbursed in the year expenses (2023- £nil). Induded in the year are donations of £Nil. In 2023 there were donations of £1,550 made by three Trustees. One Trustee (2023 - one) donated a gift in knnd of £93 (2023 - £204). Three Trustees {2023 - five) purd)ased tid(ets for events in the year at a value of £606 (2023 - £2.370). and two trustees (2023- none) purchased bags and cards at a value of £2212023 - £Nil). The Charity purchased Directors and Offir$ Liability Insuranc& for the benefft of the Trustees at a c05t of £1.134 (2023- £1,174). No grant <2023 - one grant) was reiVed from Sury Cwnty CouAl as a result of a Trustee nomirylion (2023- £107). No Trustee (2023- one) paid for w)holstery seTVi(zs in the yew of £nil (2023 - £90). -30-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CorINuED) FOR THE YEAR ENDED 31 MARCH 2024 13 Employees The average montNy number of employees durin9 Ihe year dS. 2024 Number 2023 Number 38 42 Employment ¢osts 2024 2023 Wages and salaries Soaal seiyjrity costs Olher pension costs 658.568 45.074 17,109 628,225 43.132 15.598 720.751 686.955 The FTE for 2024 is 23 employees {2023 - 23). There were no employees whose annual remuneralion vrds mwe Ihan £60.000. Remunerdtlon of key management personnel The remuneration of key management personnel was as fr)11 2024 2023 A9gregate (x)mpensation 182.546 63,694 Aggregate compensation has incxeased on wior year due to the indusion of the Senior Management Team as key management personnel. 14 Net galnsl(losses) on Investments Unrestricted Unrostricted funds funds 2024 2023 Net unrealised gainsl{losses) on investments 27.774 (4.186) 15 T8xation The Charity is exempt from tax on incorne and gains falling wtthin seclion 505 of the Taxes Act 1988 or se¢lion 252 of the Taxalion of Chargeable Gains Act 1992 to the extent that these are applied to its d)aritable objeGts. 31-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Tangible fixed assets Plant and machIry Total vèhlclos Cost At 1 April 2023 Addiiions Disposals 117.052 6.621 (6.807) 67.270 184.322 6.621 (6.807} At 31 March 2024 116.886 67,270 184.136 Depreciation and impairnient At 1 April 2023 Depreciation charged in the yeaT Eliminated in respect of disposals 111,349 6,924 (6.807) 67,270 178,619 6.924 (6.807) At 31 Marth 2024 111,466 67,270 178.736 Carrying amount At 31 March 2024 5,400 5.400 At 31 March 2023 5,703 5,703 17 Fixed ass8t Inv8stmentB Listed Other Investmènts Inveslments Total Cost or valuation At 1 April 2023 Valuation changes 209.260 27,774 209.261 27.774 At 31 Marth 2024 237,034 237,035 Carrying amount At 31 Mardi 2024 237,034 237,035 At 31 March 2023 209.260 209.261 2024 2023 Other investments comprise: Notes Investments in subsidiaries 18 Flxed asset inveslments revalued The historical cost of the listed investments is £200,000 (2023- £21JJ.000).
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 17 Flxed asset investments (Continued) The listed investhients were valued on an open market basis on 31 Marth 2024 by Charities Ethical Investrnent Fund. 18 Subsldlarles Details of the Charity's subsidtaries at 31 March 2024 are as folow5: Name of undertaking Registsr8d Nature of buslness Class of % Held shares hold Direct IndFrect Oakleaf EnteTISe Trading England & VleS Dormant Limiled Ordinary 100.00 19 Stocks 2024 2023 Raw materials and consumables 1,891 6.681 20 Debtors 2024 2023 Amounts falllng due within one year: Trade debtors Other debtors Prepayments and accrued income 1.191 5.423 39.411 11.113 9.660 40.402 46.025 61.175 21 Credltors: amounts falllng duo wlthln one year 2024 2023 Not88 Other taxation and social seIty Deferred income Trade creditors Amounts owed to subsidiary undertakings Other creditors Accnjals 15.732 13.185 30,824 14,245 42,613 32.280 22 1,606 30,119 1.626 52.010 91.467 142,775
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Deferred Incomè 2024 2023 Other deferred inccthe 13.185 42.613 Deferred income is indLKJed in the financFal statements as ft4lows: 2024 2023 Dekned income is induded vAthin: Current Iiabilrties 13.185 42.613 Movements in Ihe year: Deferred inccyne at 1 Aprit 2023 Released from previous peri¢)ds Resources defeed in the year 42,813 (42.613) 13.185 89.051 (89.051) 42.613 Deferred income at 31 Mard) 2024 13,185 42.613 The deferred income relates to grants for future periods. 23 Rotiremont bonofit schemes 2024 2023 Defined contribution 8chemes Charge to profft or loss in respect of defined a)ntribJtion 5themes 17.1Q9 15.598 The Charity provTdes a defined contribution pension scheme to all of its qualifying empltjyees. The assets of the scheme are held separately from those of the Charity in an independently administered nd. There was no amount outstanding at the year end (2023 - £ni Unrestrlcted fvnds The unrestricted funds of the (*arity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds v4hich have been set aside out of unTeslTided fund5 by the truslees f specific purposes. At 1 April 2023 Incomlng Resource5 resource5 expended Transfers Gains and At 31 March losses 2024 General funds 414.230 407,966 (509.310) 3.939 27.774 344.599
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Unrestrlcted funds {ContinuedJ Previous year= At 1 April 2022 Incoming Resources resources expended TransfoTS Gains and At 31 March losses 2023 General funds 366.380 514.811 (465.112) 2.337 (4.186) 414.230 -35-
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OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible a55ets Investments Current assetsloiabilities) 5,400 237.035 102,164 5,400 237.035 199.767 97.603 344.599 97.603 442.202 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investmenls Current as5etslOiabilitie3) 5.703 209.261 199.286 5.703 209.261 287.251 87.985 414,230 87.985 502.215 27 Operating lease commiiments Lessee At 31 March 2024 the Charity had outstanding commitMts for future minimum lease payments under non- Ca11able operating leases. vthith fall due as follows- 2024 2023 Wthin one year 68,931 66.126 The operating lease c<xnmitments indude a lease for the Charity's premises. The lease began on 1 September 2018. with a non-cancellable period of 3 years. followed by a g month Tolling bak Gtause. The operating lease commitments shovm above reflect the minimum paymenls due for the 9 month Tolling break dause in the current year. as well as outslanding obligations on the rental of two ptinlers and a franking machine. Lossor Charity has sublet two rooms for the year ended 31 March 2024, has a 30 day noknce period by either party. During the year the Charity received £16,560 (2023 - £16.540). vthich also induded some adhoc room rentsls. 28 Rolated party tsansa¢tions There were no disdosable related party transactions during the year (2023 - none). -40-
OAKLEAF ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 29 Cash genèratad from operatlons 2024 2023 {Deficitysurpus for the year (60,013) 55,377 Adjustments for. Investment income recognised in statement offfinancial aCbvitS Gain on disposal of tsngible fixed assets Fair value gains andlosses on investments Depreciallon and impairment of tangible fixed assets (22.024) (18,707) (192) 4.186 12.901 {27,774) 6,924 Movements in working capita: Decreasel(increase) in Stocks Decrease in debtors (Decrease)Iinc*ease in creditors (Decrease) in deferred income 4,790 15.150 {21,880) {29,428) {3,492) 16.569 14,108 (46.438) Cash (ab50rbed by)Igenerated from operations (134,255) 34.312 30 Analysis of changes in net funds The Charity had no material debt during the year. -41-