Company Registralion Number- 03919973 (England and Wales) The Charity Registration Number is:_ 1079789 OCEAN crry COLLEGE LTD Report and Accounts 31 August 2024
Oe•an City College Ltd Report and accounts forthe year endod 31 August 2024 Contents Pago Charity informatlon Trustees. Annual Report Statement of dlr•dors' responslbllitios Indapendent Examlnorfs Report Funds Statements.. . Statement of Financial Activities Statement of Financial Activities - Prior Year statement Movements in funds Revenue Funds Fixed Asset funds Summary offunds Income and Expenditure account 10 13 14 15 15 15 16 17 Balanco sheet Notes to tha accounts 18 19
Ouan Clty College Ltd Company RegistratK)n Number - 03919973 Trustees. Annual Report for the yoar ended 31 August 2024 The Trustees present their Report and Accounts for the year ended 31 Augusl 2024. which also comprises the Directors, Report required by the Companies Act 2006. Reference and administrativ• details The charlty name. The legal name of Ihe charity is: _ Ocean City College Ltd Norpro Training Ltd changed its name to Ocèan Cty Collage on 16th Octob&r 2023. The charitys areas op•ration and UK ch*itable rngistration. The charity is registered in England & Wales with the Charty Commission in England & Wales (CCEW} with charity number 1079789. Legalstrncture of the charfty The Charity is constituted as a company limited by guarantee. registered under the Companies Acts and it's goveming document is a Memorandum and Articles of Associalion under company legislation. By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation. The Irustees are all individuals. The principal operating address. telephone number and email and web address of the charity are: . 30 Ham Drive Plymouth. PL2 2NL Telephone 01752 559426 Emall: info@oceancity¢ollege.ac.uk Webslts: htt :Ilwww.oceanci colle e.ac.uk The registered office of the charity for Companies Act purposes is the same as the operating addsS shown above.
Ocean Clty College Ltd Trustees. Annual Roport for th• year ondad 31 August 2024 Th? Trustees in offic• on the date the report was approved were:. Graham Ingram - Chairperson Lyn Lewis- Vice Chair DaThen Brunning - Secretary until 191h July 2024 Michael Bond Chris Storer The followlng persons 8emd as Trustees durlng the y•ar ended 31 August 2024:_ The trustees who served as a trustse in ts reporting period, and. if applicable. their dates of appointment or resignation during the year were: _ Nama Appolnted Reslgned/Retlred Chris Storer Michael Bond Graham Ingram Darren Brunning Lewis
Ocean Cily College Ltd Trust••s' Annual Report for the year endod 31 August 2024 Objects and activities of the charity The purposes of the charity as set out In Its governing documen£ The Charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The directors of the company are also trustees of the Charty. Objectives . To provide a garage workshop and other facilities to advance the interest of social welfare with thé object of improving conditions of life in the wards of Ham and also across the City of Plymouth. . To enhance and promole employment opportunltles, work experience opportunities and training and education including Iraining skllls relevant to securing employment for residents within the area of benefft. . To assisl in the relief of the effects of social and economic deprivation and soclal exclusion in the area of benefft. . To promote such other charitable purposes as further the objects of the company. The Charltys prlnclple aCtItIO9. . We provide academic year mechanical training courses for up to 120 young people per annum. most of whom either reside in the local area or other deprived areas of the Clty of Plymouth. Most of these young people have had difficulties wlth malnstream education, or other difficultiès that have affected their education. By comlng to the projecl two days per week on accredited training progammes we have been able to keep most of the young engaged in education whilst gaining a valid qualification that they can use in the future.
Ocean Clty College Ltd Truste. Annual Roport for th• year ended 31 August 2024 Tho main actlvftias undertaken In relatlon to those purposos during the year. Education changes came into effect whereupon school 6th forms were only allowed to subconlract 25% of their intake. This had a huge effect on the charfty income. Fortunately, a lot of the schools agreed to their students progressing onto the next higher level of course. Trustees gave all staff members additional holidays to Compensate for lack of pay rises, all staff members now only work 38 weeks per year. We continue to support AFC Plympton under 14's. Staff Changes Brian Winsor resigned on 31st July 2024 Apprenllcos We have no intake ihis year Trustee8 Brian Weatherston took over the role of Company Secretary on 191h July 2024.
Ocean City College Ltd Trust•ès' Annual Report for the yoar ended 31 August 2024 Structure, governanc• and manag•ment of the charlty rhe charily's organisational structure. The charity is organised so that the trustees meet regularly to manage the affalrs of the charty and to agree on ongoing developments. Brian Weatherston, the Technical Manager, whose role is to overseè the day-t(Hlay operational running of the charity and advltles on the shop floor, including the training sessions and internal verifKation system. Brian Weatherston Is also the Quality assurance Coordinator on b8haff of the charities accredited awarding bodies. There are also 5 qualified trainers and one receptionist. The charity retains Clear Blue-sky Accountancy Ltd as its accounlants and banked with Lloyds PLC and the CO-OP PLC during this financial year. Rlsk management Major risks are constantly reviewed, and procedures estsbllshed to manage those risks. Dlrectors and Trustees All Directors of the company are also trustees of the charity. and there are no other trustees. Electlon of members Th8 Directors retire after a five-year perlod, and there are none to retlre thls perlod. Retiring directors 8r8 eligible to offer themselves for re-appointment. The number of trustees shall not be less than four but shall be subject to a maximum of nine.
Ocean City College Ltd Trustees. Annual Report for the year ended 31 August 2024 Flnancial review The charlS flnancial poslllon at tho end of the year ended 31 August 2024 The company has been operating at full capacity throughout the financial year and has generated the majority of its incorne by providing training courses on behalf of schools, colleges and other organisations. The financial position of the charity at 31 August 2024 and comparatives for the prior period, as more fully delailed in the accounts, can be summarised as follows: _ 2024 2023 Net {expendlturo)fincome (7.258) (15.565) Unrestricted Revenue Funds available for the general purposes of the charity Designated Flxed Asset Funds Total Unrestrlcted Funds 53,727 59.796 3.754 57.481 4,943 64,739 Restrict8d Rèvenue Funds Restricted Fixed Asset Funds Total Restrlcted Funds Total Funds 57.481 64,739
Ocean City College Ltd Trustees. Annual Report for tho yéar endod 31 August 2024 Policies on reserves We are working toward a reserves policy whereby the unrestrrcted funds not committed or invested in fixed or tangible assets held by the charity should be at least 6 months of the expenditures. However. this policy has now been reviewed taking in to account the changes in education and the regeneration programme that is tsking place in the Charities direct area of benefit. The Trustees therefore Ick the decision to raise the amount that shoukj be allocaled to reserves, to allow the project to continue operation for at least the next academic year whilst the above two issues are resoFved. At present the reserves account holds £10,000.00 on the 31 august 2024 but this has not taken Into account d8prg¢ialion costs on both the building and the contents. The surplus of funds retalned in the reservés is available for use to enable the company to fulfil its principal objectives subject to sufficient further funding being received. . Details of The Independent Examinor Merlin Mbahin, FA4T, MIP of Clear Blue Sky Accountancy 30B City Business Park Somerset Place Plymouth PL3 4BB
Ocean Clty Collogo Ltd Trust••s' Annual Roport for the year endod 31 August 2024 Stat•mont of tho Dlr•ctors' and Trust•os' Responslbllities The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companles Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requlrement in the extant stalulory regulations,the Charltles (Accounts and Reports) Regulatlons 2008. to prepare the financial statements in accordance wllh the SORP 2005, In view of the fact that the SORP 2005 has been wSthdrawn. the Trust8es determined to Interpret this r8sponsibility as requirlng them to follow current best practice and prepare the accounts 8ccording to the FRS 102 SORP {Statemenl of Recommended Practlce for Accountlng and Reportlng by Charities) 2015, (as amended by the Bulletln Issued in February 2016), (The SORP), In particular, the Companles Act 2006 and charty law require the Board of Trustees to prepare financlal statements for each financial year which give a true and fair view of the state of affairs of the charity as at th8 end of the financlal year and of the surplus or deficit of the charity. In preparfng those financial statements Ihe Board is requirad to :. - to prepare the accounts In accordance wlth Unned Kingdom Generalty Accepted Accounting Practice (United Kingdom Accounting Standards and appllcable law). - select suitable accounting policies and apply them conslstenlly" - make judgem8nts and estimatss that are reasonable and prudent., - preparè the financial statements on the golng concem basis unless it is inappropriate to presume that the charity will continue in business: state whether applicabl8 accounling stsndards arKI statements of recommended practice have been followed, subject to any materlal departures disdosed and explalned in the financi81 statements; The law requlres that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affalrs of the charlty and of the surplus or deficlt of the charity for the year. The Truslees are also responslble for maintsining adequate accountlng records which disclose with reasonable accuracy at any time the financial position of Ihe charlty and which are sufficient to show and explain the charitys trans8Ctlons and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply wlth regulations mad8 under the Charities Act. They are also responsible for safeguarding the assets of the charlty and hence for taking reasonab18 steps for the prevention and delection of fraud and other irregularities.
Ocean City College Ltd Trusteos. Annual Report for tho yoar ended 31 August 2024 The Truslees are also responsible for the contents of Ihe Trustees, report, and the statulory responsibility of the Independent Examiner in relation to the Trustees, report is limited to examining the report and ensuring that , on the face of the repor( there are no material inconsistencies with the flgures disclosed in the financial statements. Method of praparatlon of accounts - Small company provisions The financial ststèments are set out on pages 13 to 33. The financial statements have been prepared implemenng the FRS 102 SORP (Statement of Recommend8d Practice for Accounting and Reporting by Charities) 2015. (as am8nd8d by the Bulletin issued In February 2016), (The SORP). and irb accordance with the Financlal Reporting Standard 102, (effective 1 st January 2016) These financial statements have been pr8pared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companles subject to the small companies regime. This report was approved on behalf of the board of trustees. Chair - Director IL L I.IS Dated
Ocean Clty College Ltd Report of the Ind•p8ndent Examlnor to the Trustees of the charitable company on th• a¢¢ounts for the year •nded 31 August 2024 I report to the Trustees on my examination of the financial statements of the charitable company on pages 18 to 38 for the year ended 31 August 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102. (effective 1 st January 2016) as modffied by FRS 102 SORP (Ststement of Recommended Practi for Accounting and Reporting by Charities) 2015. (as amended by the Bulletin issued in February 2016). ffhe SORP}, published by the Charity Commission in England & Wales (CCEN), and urider the historical cost convention and the accounting policies set out on page 19. Respective responsibililies of the Trustees and the Independent Examlner and the basis of the report As described on page 8, you, the charitable companys Trustees, who are also Ihe Directors of the Company for the purposes of Company law, are responsib18 for the preparation of the financial slaternents in accordance with Ihe Companies Act 2006, the Charities Act 2011 and all other applicable law and wlth United Kingdom Génerally Accepted Accounting Practi, applicabl8 to smaller entities, and for being sallsfied that the financial statements give a true and falr vlew. The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act} dS not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit. and that the accounts do not require an audit in accordan with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence. the Truslees have elected that the financial statements be subject to independent examination. Having satisfied myself that the financial statements are not required to be audited under any legal provision, or OtheiSe. and are eligible for independent examination, it is my responsibility to:. a) examine the financial statements of the charity under Section 145 of the Act; b)follow the applicable prOdureS in the Directions given by the Charity Commission under section 145(5Mb) of the Act. 10
Oe•an City Collago Ltd Basis of Independent Examinerfs Statement and scope of work undertaken I report in respect of my examination of the charitys financial statements carried out under s145 of the Act. In carrying out my 8xamination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examlnatlon Includes a review of the a¢counting records kept by the ¢haritsble company and of the accounting systsms employed by the charitable company and a comparison of Ihe financial statements presented with those records. It also includes consideration of any unusu81 items or disclosures in the financial statements, and seeking explanatlons from you, as Twstees, concerning such matters. The purpose of the examination is to establish as far as posslble that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made. the financial statements comply with the SORP. The procedures undertaken do not provide all Ihe evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjecled to audit tests or enquiries and does not cover all the matters that an audltor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide Consequently. I do not express an audit opinion on the view given by the financial statements, and in particular. l express no opinion as to whether the financial statements giv8 a trua and fair vi8w of th8 affairs of the charity, and my report is limited to the matters set out in the statement below. 11
Ocean Clty Collage Ltd I planned and perfonned my examination so as to satisfy myself that the objectives of the Independent examination are achieved and before finallslng the report l obtained written assurances from the Trustees of all materfal matters. Independ•nt Examinerfs Statement, Report and Oplnlon Subject to the limitations upon the scope of my work as detailed above, I have completed my examination.. and can confinn that'.- The accounts of this charlt8ble company are not required to be audited under Part 16 of the Companies Act 2006: This is a report In respect of an examination carried out under 145 of the Act and in accordance with Dlre¢tions given by the Charity Commission under section 145(5)(b) of the Act which may b8 applicabl&: and thal no material matters have come to my attentlon in conn8Ction with the eXaMinan giving me cause to believe that in any material respect:. accounting records were not kept in r8spect of the charity as requir8d by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011. the financial statements do not accord with those records," or the financial statements do not compty with the applicable requirements conceming the fom and Content of accounts set out In section 396 of the Companles Act 2008 olher than any requirement that the accounts give a ue and fairf view, which is not a matter consldered as part of an independent examination. have not been preparéd in accordance wlth the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Chariti8s) 2015, (as amended by thè Bulletin issued in February 2018), (The SORP). I have no conc8rns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Signed:. Merlin Mbahin- Independent Examiner Llcensed Accountant 30B City Buslness Park Ptymouth PL3 4BB This report was slgned on 12
Ocean City College Ltd Detalled anatysls of Income and éxpendlluro for tho year ended 31 August 2024 as r•qulred bytho SORP 2015 Totsl support ¢osts B2d The basls of allocation of costs betwepn activities is descrIba underaccounting poTh¢ies. 32
oan City College Ltd Dotalled anatysls of ineomo and •xponditure for tho year ended 31 August 2024 as roqulred by tho SORP 2015 31 Support costs for charitable activilles Cuffent ywr Uwestricted Furbjs 2024 Cwrront year R•strl¢tsd Funds Cwr•nt ythr Total Funds PrJorY•ar Total Funds 2024 2024 2023 Premisés Expenses Rent Rates and water charges Light heat and power Cleanlng and wasts managèment 1,541 5.610 1.134 9.929 1,353 Admlnlstrathfe overhéads Telephone. fax and intern8t ststionery. postsge and printing Motor running costs M8mbership subscriptions AdvertisintyPromotional Liabilty and contents insuranc8 Comwtsur costs 1,070 1,480 2,366 11,637 1.757 10.134 241 1,070 933 2.412 477 2.366 11N7 1.757 10,134 241 9,439 9.494 Pmfessional fees paid to advlsors other than the audltor or examlner Accountancy fees other than examination fees 2,652 Legal and professicfflal fees 356 1.334 1.815 Financlal sts Bank charges Depreclation for Ihe year 134 1,189 134 119 1,648 31
Ocean City College Ltd - Ststement of Financial Actlvlties for the year ended 31 August 2024 Statement of Financi81 Activiti•s (including the Income and Expendlture Account for the year end•d 31 August 2023. as requlred by the Companies Act 2006) SORP Currgnt yw Cumnt yr Current ytrir Prforyear Urw•strl¢ted Rostrtcted Tal Funds Totsl Funds Funds Fund5 202 2024 2024 2023 Incomg & Endowm•nt• from: DOnatiOr & Legaaes Charitable activrlie5 Othertrading admtses Investments A1 244,645 289.332 Total InMI 244645 239.332 Expendlture on: Raising funds Charitsble activities B1 251,3 251,903 304.897 Totsl •xp•ndlturè 251.903 251,903 304.897 Net Ineomo for th• y•ar .258 (7,258 115,56¥ Transfers bètw••n fund8 Net incomo th transfor$ 172581 ff,258) 115.565) Not movement in funds 2581 17,258) {15.565) R•conclllall¢n of fvnds:. Total funds brought forrd 64.739 64,739 1,3Ckl Total funds ¢ffi•d forward $7,481 64739 The'SORP Ref indi¢ated above Is the classification of income set out in the formal SORP documer)ts. As rpwired by paragraph 4.60 ofthe SORP, the brought forward and carried forward funds above have be8n agreed to the Balance Sheet. As8parate Statement of Total Recognised Gains and Losses is nol required as this slalement includes all recognised gains and losses. All aLivlties derive from contlnuing operatior Tho notes atta¢hèd on pag•6 19 to 33 form an Intogral p•rt of these accounts. 13
Ocean City Colleg8 Ltd - Statement of Flnancial Activities for the year ended 31 August 2024 Ocean City College Ltd - Analysls of prior year total funds, as required by paragraph 4.2 ofthe SORP Prl¢r Yew prtor Y•¥ Prlor Y¢w Total Funds Fund• 2023 2023 2023 In¢¢)me from: Donations & Leg8cre5 Charitable actIVe$ Other trading actlvmtes Investments A1 289.332 Total In¢¢mg 289J32 289,332 E¥pen¢frturo on,. Raising funds CharilabK8 activities 81 B2 304,897 304897 Total •xpendltyr• 304.897 {•xpenditur•ylnc4xn• for th•y•r (15.565) 1145651 Tran8f•rs b•iwn funds Not Income aftortransfws (15.5) (15,5651 N•t movement In fund {15.$651 115,565) Reconcillalion of fvnds:. Totsl fvnd8 brought forward Total lund8 G4rrl•d forward 64739 84739 All actlvities derlv• from contlnulng operatlon Aseparate Stat8ment of Totsl ReLtsJnised Gain5 and Losses is Tr)t requir8d as this sL*8m8nt includes all reGognised gains and Ios58S.' Th• notes attach•d on pag•s 19 to 33 lomi an Inl•gral part of th•s• ac¢ounts. 14
Ocean Clty College Ltd - Statemenl of Flnan¢lal A¢tlvltles for the year ended 31 August 2024 Ocean City College Ltd - Resources applied In Iho year onded 31 August 2024 towards flxed ass•ts for Charity us•:. 2024 Fund8 gerated In the year a$ detalled In the SOFA Resources applied on functional fixad assets 17,2581 115,5651 N•t rnsourcos avallablo to fund charltable actlvltles 258 565 The resources applled on fixed assets for charlty use represents the cost of addillons. Movements In revenue and capltal funds for the yoar endod 31 August 2024 R•venu• accumulat•d funds Unr•strS¢t•d R•¥trl¢t•d Funds Fund8 Total Funds Last y•ar Tolal Funds Accurnulatgd funds brought forwdrd 59.796 Rwnised g8in5 and 1055es before transfer (6.0691 16.069} {5.124} 54727 53.n7 59,796 {Fr¢th)O unrestricted revenue funds Closing rene fvnds 727 53,727 Flxed a88et funds D•signat•d R•strictsd Funds Totsl Funds L••t y• Totsl Funds 2024 2024 2024 2023 At 1 Septembar rrnn8fer Ilo)lfrom rev•nuo fund8 4.943 {1.189) 4.943 {1.189} 591 11,648} Al 31 August 3,754 3,754 4,943 The of th6 Iran8f6rs to flx8d asset fuNl$ are eribed in Nots 20 to thè accounts and undèr the a¢¢ountlng poll¢y 'A¢¢ounlina lor capltsl gran1$ and fixed asset funds,. Thfj not atta¢hgd on pages 19 to 33 forni an integral part of tho$0 accounts. 15
Ocean Clty College Ltd - Statement of Financial Actlvitios for the year ended 31 August 2024 Surnmary of fvnds Total Fund$ Lasty Tot•1 Funds and D•¥lgnated thnd$ 2024 Fund$ 2024 2024 2023 Revenue accumulal•d funds Revenue ¢J¢signated funds Fixed as68t funds 53.727 59.796 3,754 3,754 4.943 Total fund# 57A81 .481 Th• rbotes attached on pages 19 to 33 form an Integral part of tha accoun 16
Ocean City Coll•ge Ltd - Statoment of Financial Activities for the year ended 31 August 2024 Ocean Clty College Ltd Income and Expendlture Account for thè year ended 31 August 2024 as requlred by the Companies Act 2006 Inwne Income from ¢)peratsons 244.645 289,332 Inveslment inceme Interest rerrivable Gross lTrcoffl• Sn lh• y•ar bgfore ?x¢optlonal It$ 244,645 289,332 Gros$ income in theyw iluding exoplional items Charitsble exp¥*Jiture. excluding depreciath)n and anortisal•)n staff costs Deweciation and amortizalion .573 152,891 1.189 1,250 137.422 1e4,743 1,648 Total expendlture In the year 251 All activities derive from continuing operations In accordance Trmlh th& provisions ofthe Companies Acl 21X)6, the headings and subhe8dings used in the Income and Expenditure account have been atlapled to reftect tho speci81 nature of the charity'5 aclivilie5. The note$ attached on pagos 19 to 33 form an integral part of those accounts. 17
Ocean City Coll•ga - Balance Sheot as at 31 August 2024 Nota Ref 2024 Fixed assots TarvJible assets 3.754 4.943 Cun*nt assets Debtors Cash at bank and In harKI 10 B2 9,533 55,903 29,584 35,336 Total current asset8 65,436 64.920 Creditors." amounts falling due withSn one year 11 C1 Net Current A550ts 53.727 59,796 Total assets of the ¢harity 57,1181 64739 Total assèts of tho charity aro funded by thefunds of the charlty. as follows:. R•stricted funds Restrthd Rev8nue Funds Restrl¢ted Fixed Asset Funds 17 D2 17 D2 Unrestricted Funds Unrestricted R&venue Funds 17 D3 57,481 64,739 Do$1gnated Funds Designated Fixed A8set Funds 17 D3 Totsl ¢harfty funds The 'SORP Ref indicated above is the ¢lassificallon of Balance Sheet Items as sel out in the formal SORP documents. A8 required by paragraph 4.60 of the SORP, the brought forward end carried forward funds above have be8n agreed to the SOFA.. The directors are satisfied that th• company is entitled to exemption from the requiremont to obtain an audlt under sectron 477 of the Companies Act 2006. The Thmbers have not required the company to obtain an audil in accordance with section 476 ofthe ACL The directors acknowledge Iheir responsibilities for complying with the requirements of the Companies A¢t 2(KJ6 th respect to accounting records and the pr8paration of accounts. The charity is subject lo Independent Examination under chaiity legislation. and the raport of the Indgpendent Examiner is on page 10. The financial statements have been prepared in accordance with the provisions in Part 15 oftho Companies Act 2006. applicable to Companies subject lo the small Companies regime. Chair- 01ClOr Approvod by the board of trust••5 on Th• notes atta¢hed on pages 19 to 33 fomi anlthogral part of the80 a¢eounts. 262 18
Ocean City College Ltd Notos to the Accounts for the year ended 31 August 2024 1 A¢¢ounling pollcles Policles rnlating to th•produ¢tlon of the account& Basls of pr•paratlon and accountlng ¢onv•nllon accounts have been prepared on thts accrua ba$l$, under the hl6lorlcal Cost conventlon. and in accordance with the Financial Reporting Stsndard 102, lsffectlve 1st January 2016) ond'FRS 102 SORP (Statement of Rsrommend Practice for Accounr and Reportlng by Charftlesl 2015, (as amended by the Bulletin Issued in Fobruary 2016}. (rhe SORP), publlshed by the Charity Commi85ion In England & Wales ICCEWI . effective January 2016. , and in accordance with all applicable law in thg ¢harW$ jwlsdidlon of re¥lrat1. ep1 that the charity has prepared th¢ financlal $tatsments In )rOan wf(h the FRS 102 SORP (Statement of Recornm$nd$d Practicg for Accounting and Reporting ty Cholitsesl 2015, las amerthd bythe Bullstin 188u¢d In F¢bnJory 2016). IThe SORP). in prelerence to the prevlous SORP, the SORP 2005, which has been %hdraWn. notwlthstBndlng the fact that the extant statutory regulatk)n8, the Ch¥riti¢s {A¢counts and Reports) Regulations 2008 refer explicitly to the SORP 2005. Thls has been done to accord wlth urrènl bast pr8Ctlce. Followlng accountlng pollcle• Pla prior to th• SORP 2015 Under the SORP 2015, where there 18 no sp$¢¢ reqUlwtnt to adopt a particular wxounting requirernent. a charity may follow Ihelr exisllng accounting policies FVIded that the related disclosures made are consistent with accepted accounting pra¢t6ce. Thls ¢horlly hos dedded that the accounting policies vthith il ftslknv pAor to the SORP 2015 ¥hall ¢onllnue to be follow&J. Ri$k$ •nd futur• assumptlons Tho charity is a benefit errtlty. There arè no material judgements, apart from those Involvln9 esllmallons, that managemenl has made In Ihe pro¢ess of apptyiro the enws aecountlng pollcles that have any significant effecl on the amounts re¢ognl$ed In the accounts thosè rel8tlng to the chosen rates of fixed a$sat dopro¢lalion; There ore no key assumptions, other than the going ¢orKem basis. COncnIng the fulure. and other key sources of estimation uncertainty at the reporting d8tè that have a s1gnlfict rlsk of causing a materi81 adjustrnent lo the ¢arrylng amounts of 8sset¥ and liabllltles wlthln the next reporling peric*J. Pollcles relatlng to cat•gori•s ofin¢onw and Income recognltlon. N•tur• of Sncom• Gross income represents the v8luè. ofvalue added tax and discounts, of good$ pffjvided to customers and work carried out in r85P8cI of seNices provided to customers. Categories of IncDm IkKom• Is catagorlsad as income from exchange transactlon$ l¢ontra¢¢ Income) and income from nonexchange tran$a¢tbn$196ft$), Investment InMe and other irKome. Incom• from exchang• tranM¢tlon$ Is r¢cei¥ed by the charity for goods or services Suppli undw contmct ar Wra entitlemenl is subieGI to fuwilling rf0m1#nce related c0Th5t8. The income the charity rewves is approximately aqual in value to the g(K¥Js or seNi¢és supplied by charityto the purchaser. Income from a non•xehang• transaetlon is where the charbty receives value frorn the donor without providing equal value in exchange. and in¢lLvJe8 donation$ of money. goods and services freely given without giving equal v8luè in oxcharvJe. 19
Ocean City College Ltd Notes to the Accounts for the year endod 31 August 2024 Incomè r•¢ogniiion Income. whetherfrom exGhange or non eXchare transactknns. 15 recognisod In the ststement crffinancial activthes (SOFA} on a receivable basis, when a transactron or other event re5uFt5 in an Ir$0 in the charitls assets or a reductiDn in its li•ilities and ontywhen the ctrwity has legal entitknienL the inwme is probabfe and be measured reliabty. Irbcorne sutiect to term5 and conditions %thich must be met befo the charrty is gntitled lo the rEsources is not recogni5ed Unt the ccThlibons have been met. AJI rncome is acGwnted for gross. before deducting any related fees orcosts. Pollclos rnlatlng to expendlthrn on good$ and servlces provldod to the charlty. R•cognOtlon of liabilitie¥ and eXp•ndre A Ilability, 8fbd the related expendiiure, is rgcognl8ed when alggal or conslrudive obligation exlsts as a re5uM of a past event, and when it is mt)re likety than not that a transfer of econ¢JmK bgnefits will be reqimred in sfrttlem8nt. 8nd when the amount of Ihg obllgation can be measured or reliabty esflmated.. Llabilities arisry from future fvndro corrnltments and conslruct6ve obligations, Including perfonnartt related 9r8nts, where the timing or the am¢Junt of the future expènditure r8qulred to settle the obligation are VrertaIn, give rise to a provlsion in the accounts. which is rewewed al the aCtntIng year end. The prolon is increased to rdect any increases in liablities, and is dècreawj by the utilisation of any provision within the period, and reveed rfany provi8lon is no nger required. These movements are charged or credited to Ihe respective and activitie5 to which the provision relate8. Alltxallng sts to actl¥ltl•s Dired costs that aro sPeccallY rekled to an activty are dFocale(J tothat acfivty. Shamd direct costs and support ca)sts are aprx)rtioned betweén actwitigs. The basis for apmionm8nL which is C1$ applied, arKI proporbonate toth& ciirumstsrtcgs, Is :_ Volunt••rs In accyxdance with the SORP. and in recognttlon of the diffi¢ultlos In pthing a monfrtsry vakn on thg C{bUt10n from volunteers. Ihg contribution of vclunteers is not irKluded wlthln the in¢om9 of th& charty. However, the trustees valu8 Ihg significant contribution made le actmties of the charity by unpaid volunteers and this is describgd more fijlty in Note 6.
Ocean City College Ltd Notes to the Accounts for the year ended 31 August 2024 Pollcles relatlng to assets. 11a"11¢$ andprnvisions andother mattern. Tanglbl• fixed ass•ts Tangible fixed aet5 are mga$ured al their original cost value, or subsequent revaluallon, or Ifdonaled, as descdbed above. Cost value Includes all costs expended In brfnging the asset into its intended working wndilion. DeWe¢tion has been provided al the lollowing rate5 in order to wrfte off the assets to Ihelr anpated r88fdual value ave estimated useful INes. Leasetrthjld prèmlses Plant and machnery No Depreciatson 25°k reducing balance A regular annual revlew ofthe Ilkellhood of assot knpalment Is undertak8n. A¢¢ountlng for uplt•l gr•nts •nd flx•d a•$•1 fund$. The board of tfusteos consider that , In order lo cthnply with the Statement of RernMended Pra¢ti¢e forAccounting and Reporting issued by the Charity Commissioners for England & Wales {revised June 20081, 9rft8 of tsngible fixed assets or grants of a pital nature given for specffic puTpcw and fulty utilised in the furtherance of the objects of the charity should be credite(I to the relevant fixed asset fund after the sums have been properly expended on the re5tsicted purpose. The related asset is shown in the balare Sheet at the fvll cost cl acquisition or subsequent alUatIOn. Ir assets are purchased wh unrestrlcted funds then a designated fixed asset fund is created. If the related assets are subject lo restrictio by the grant making organisation on their usg and dlsposal, then these restrictio are noted in the fixed a88el sectkin of thes8 aca)urrts. In such circumslanco5, thg fixod assgt lund cro8ted is treatod as a restrict9d fixed as$91 fvnd. trIng the year there was a transfer lo restrict fixed asset funds of £nil (2024- £nil in accordance %wth this policy.) If the related assets ar8 not 8ublect lo restrfctlons by th6 grant making arganisalion on Ihair usg and di$Fwal, thgn the fixed asset fund created is troated as a designated fixed as8etfund. The effe(l of Ihls treatrnent Is that the sum of the d6slgnatsd and r66trfcted tlxed asset funds equals thè net book valug of the Ilxed a888ts. Any residual liability lo tha donor arising from, for oxample, th8 assevs future sale. Ss dl8ckised as a conng8n1 Ilablllty unless the evenl that would trigger rgpayment of th& gmnt becomes prob8bl• in which casg a liability for ropaymgnt 15 recognised. Insofar as this policy rel8le8 to Governmerrt grants and to the exient that it may be a doparture trom the Statement of staTrJard Accounting Practice Number 4, such departure 18 justified on thè basis that it Is in order lo comply with the statsment of Recommendgd Practicg forAccounting and Reporting (revised 20081188ued by the Charity Commis8ioné for England & Wales. 21
Ocean Clty College Ltd Noles to the Accounls for th• year ended 31 August 2024 Debtors are measured atthalr recoverable amounts at the balance sheet date. Credltws and provl8lt)n$ Creditors and provislon5 e measud on the convenlw)nal accruals ba$l$. Penslons-defined contrlbutlon sch•m•s The charity operate5 a defin&J contribution pension scheme. Contrul10r6 are charyed tothe profft and IDSS account as become payable in accordance the rules of the sd)em8. Fund Accounting Unrestrithd funds are availabk use al the di8¢19n of the trustees in fvrtherance of Ihe general objectlves of th8 charfty. Designated funds are unrestricted earmarked by the Trustees for partIlar PurF¥?. Restricted funds are subj&led to restfKlions *theIr expendlture Imr•Js&J by the donor orthrough the tems of an appeal tt as Implied by law. 2 Llablllty to taxation The Trustees consider that the charfty satlsfies the tests set t1 in Paragraph 1 Schedule 6 of the FInae Act 2010 for UK coy)ration tax pury>)ses. Accordingly, the Crity is polentially exempl from taxation in resped of ints)me or capital gains recerved vAthin catety)ries covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to Ihe extent that such income or gains are apped exclusrvety on the 5peciflc charitable objects of Ihe charty and for no other purpose. Value Added Tax is not recoverabfe by the charity, and is therefore wKluded in the relevant costs n the Statement of Financial Activitie8 3 Wlnding up or dissolutlon of the Gharfty If upon windiw up or dtssolution of the charity ljwe remain any assets. afterth8 satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transfarred to Se other chariiable body or bodi65 haNryng similar objects to tho tharity. 4 8ignificance of Ilnan¢lal Instruments lo th& charvs posilion There are nofinaTrial instruments with significant implications forthe chaWs financial poslkn. 5 N•t {defl¢ll)Isurplu$ boforg tax In th• flnan¢lal year 2024 Net ¢defic4tysurplus before lax in thè the financial year is slatèd after ch8rgllig." Depreclatlon ofowned fixed 1.189 Pension costs 6 The cantribullon of voluntsers voluntee from our local community mÈk8 a vital contrbubon to ourtharftablè organisallon at vartous lève 8s wel as supporting the staff in various other ways to dgliver the ffi1 Class flexibl6 86rvice that we offer to our ¢u5tomers.
Ocean Clty College Ltd Notes to tho Ac¢ounts for the year ended 31 August 2024 7 Staff ¢osts and emolum•nts Salary costs 2024 2023 Gross Salarl¢$ exdudng trustees and k8y management perJonnel Eryl¢)yerfs Natlonal Insurance forall staff Enwloyerf8 ¢)P8rating costs ofdefined contrtt)utM)n pension sd*mes 142.989 7.152 2.750 153,622 7.821 Total salarl•8. wage• and relalod costs 15 891 Numben of lull dm• •mployees orfull flmo •quivalents The average wmber oftotal fulltime equNalent stsff employed In the yearwas The èstim equlvalent number of full lim•st•ff deployed In dlfferontactwities In theyearwas.". Engaged on charftable actsvitse5 Engaged on management and administrath)n The èstim•t8d full Ilme oqufval•ntnumb•rof 4118taff employod as above Neither the trustee5 nor any petsons COnnted wth them have received any remuneration from the charity or ary relalad entity. eilher in the Curnt or priory. No empkny806 received emoluménts (8xcludlng pansion costs) n oxcéss of£60.000 per annum. 8 Defingd contribution penslon SGhgm•s Tha Charity operates a definod wrthbuiicm) pension sch9m. the costs ofwhich are shown abov9. Any liabilites and assets associatod wllh the schgm9 aré shown under debtors and credito. 23
Ocean City College Ltd Notes to tho Accounts for the year ended 31 August 2024 9 Tanglblo fFxod assots Land and Buildings Plant & Ma¢hln•ry At 1 September 22 A#111¢n$ 155.802 121.379 277.181 At 31 August 2023 155802 At 1 SÈplember 2022 Charge for the 155,8tr2 116,436 1,189 270,5SYJ 1,848 At 31 August 2023 154802 117,625 27U38 Not book valu• At 31 August 20Y3 At 31 August 2 6.591 InvoStment proFertlgs rented to aTr)ther 9nttty have bgen accounted for using th9 ¢08t mothl. The ¢arrying value of these investment propertles included wllhln langible flxod 888ets Is £8.789 {2022 - £8.2181 10 Debtors Trade dt6 9,533 29,584 9.533 11 Croditors: amounts falling due wlthin ong year Trade Cmyrt¥ 11.079 11.079 4124 5,124 24
Ocean City Collego Ltd Notes to the A¢¢ounts for the year Onded 31 August 2024 12 Pension commitmènts pe1 oommilment¥ under definpjj contribution schemes within one year 2.750 3,300 2.750 13 Financial commitments undor operating leases 2024 At the year end the charlty had no annual ¢ommltm•nts und•r non4ane•llabl• operatlng 1g•s•Js as $•t out b•low: Operatithj 16a8eB: 14 Income and Expondlture account and charftable fund8 summary 2024 At 1 Soptgrnr 2023 Prior year 8ifjustsDents At 1 September 2023 (Los$llSurplu$ aftor tax for the yeor 64,739 .304 64.739 7,2581 ,304 {15,5651 At 31 August 2024 61n9 15 No related party transactlons There were no transactions with related p8rties in ather 2024 Dr 2023. 16 Partlculars of how partiGular funds are represented by assets and liabilities Al 31 August 2024 Unr•¥trl¢t•d Do81ated Restrictsd fimds funds ld& Total Funds Tangible Fixed As86 Current As8ets Current Liabilitiès 3,754 65,436 111.7091 3,754 436 (11.709} At 1 S•pt•mb•r 2023 Unresldded funds Deslgnalad funLts Total ftJrKIs Funds Tangit4e Fixed A38èts Currwl Assd$ Currant Llabllltiès 4,943 64.920 15.1241 64,920 15.1241 64.739 H739 25
Ocean Clty College Ltd Notes to the Accounts for th• year endad 31 August 2024 17 Change in total funds over the year as shown in Note 16, analysed by individual funds brought Movem?nt In Funds ¢arrl•d forward fr•m fund• In 2024 Tran8leN• forward to funds in 2024 See Not• 18 S•• Not• 19 Unrnstrlctgd and desIgn•t funds... UeStricte(l Revenue Funds Desrgnated Fixed Asset Funds 64.739 17,2581 51.481 Total unr•stricted and de¥lgnat•d thnds (7.2581 57.481 R•$tri¢tod fvnds... Restricted Fixed Asset Funds Restrlcted Revaluation Reserve Restricted Revenue Funds Total restrl¢tsd funds Total ¢h4rity funds 64,n9 17358) 57.481 18 Anatysls of movements in funds over the year as shown In Nots 17 Income Expgnditwe Gains & Mov•m•nl in fvnds 2024 UnTh6tr1ct•d and deslgn•tod fimds.". Unr98trfctsd Revgnue 244,645 (251,W31 .2581 Designated FixedAss81 Funds RtrIcted fvnd&'. (251.9031 17258 19 Details of transfors between funds In the yoar as shown In Note 17 transfers shown in note 17 alx)ve are:_ 2024 To1(frcl Designated FixedA8s6t Funds Tol{from) Restricted Fixed Ass8t FuThJ5 Not transkns
Ocean City College Ltd Notos to tho Accounts for the year ended 31 August 2024 20 Th• purposes for whl¢h tho fundg as d•tallod In nolo 17 ar• hold by the charity are:. Unr•strlct•d and d•41gn•t•d funds... These funds are hehj for the meeting the objectives ol the charity. aThJ to provSde reserves forfuture actlvhies, and , subjert to Gharity legislation. are free from all reslriotions on theSr use. UreStrI Revenue Funds Designd Fixed Ass9t Funds The purpose of these funds i¥ desGribe(l under the accounting pol 'Accounling for Gapital grants and fixeL¥ asset funds,. R•sfrl¢t•dfund$.'. Educalonal Voucher6 fund Funds provided by Warwckshire County Counc51 forthe pmision of se)vt$. Restdcted Flxed A88et Funds The purpose of these fun¢Js is described under the accounting polity 'Accwntkng for capltal grants and fixed assèt funds,. 21 Ultimate controlling party The charity ig undor Ihe Mntrol of its legal membe. Evèry mèmber of thè charity is obliged to Qonlribute such amount as may be required not exceeding £1 to the assets of the company In the event of its being wtyJrKI up while he or she is a member, or within one year after he or she ceases to a member. 27
Ocean City College Ltd Detailed analysis of Income and oxpendlture for tho year and•d 31 August 2024 as requlred by the SORP 2015 This analysis is classsified by conventional nominal descriptions and not by activity. 22 Donatlon• and L•gacle8 ¢wrent y•w ¢urf•nt y••r UnMtrltt•d R•stri¢t•d Funds Cwryenty•ar Tot•1 Fthjs Prlor Ywr Totsl Funds 2024 2024 2021 2023 Donallons and glft8 from Indlvldual¥ Small donations indlviduglly less than £1000 T¢)tsl d¢at11)n3 and gifts from Indi•1 Rwenu• grants & donatlons from public bodle8 COVID and SSP income Apprenticeshlp funding Total publlc #•¢tsr rovonu• grants Glfts In klnd, donated s•rvl¢e8 and f•cllhl8s Small gifts indivldually less than £1C Total donatsd goods and s•rvlces Sundry Incomo sdry Incomè Total Sundry Inc¢xh• Total Don•llons and L•ga¢ie¥ A1 23 Income from charitabl• actlvltle8 _ Tradlng Activltle8 Curr•nt Curront y•ar Cwrnntyear Prlor Y Urw•sbl¢t•d R•strlct•d Tot4 Funds Tota Funds Fwds Funds 2024 2024 2024 2023 Primary purpo1• and anclllary tradlng Primary purybose trading- Sore of go(Js and servtC88 in accordance with the charitys oliects Ancillary trading in SUPPLVt of primary Ifig Lotting of prop8ty for charitable purposes 244.645 289.332 Total Prlmary purpos• and ancillary tradlng 244.645 289,332
Ocean City College Ltd Dgtail•d analysis of income and expenditure tor the year ended 31 August 2024 as requlred by the SORP 2015 24 Charltoblo Incomo from fund•rs Current year Unrestrfctod Funds 2024 Current year Re8lrf¢led Funds 2024 Cuffent year Tolal Fund8 Prior Year Total Funrjs 2Q24 2023 Contractual payments from publ[¢ bodles to fund charltablo actlvlt Small paDts indlvidually loss than £1000 Total contractual payments from publ1¢ bo(les Total Charitable Income from funders 25 Total Income from charftable actlvllles Current ye Unrestricted Funds Currant Current year Restricted Total Funds Funds Prior YaAr Total F 2024 2024 2024 2023 Total income from charitable trading Total Charitable Income from funde 244.645 289.332 Total Irom Gharitabl• athitlgs 24£645 244,645 289R32 26 Income from olher. non charltable. tradlng a¢tlvltles Current Unr8Stricted Fund5 Current Reslricte Fund5 Current Total Funds Prior Yèar Totd Funds 2024 2024 2024 2023 Trading activities to raise funds for thè Charity Total from other activiti•s 27 Inveslment income Current yew Gunt Unrestrthd Restrict FuTrJs FUTh Currgnt year Total Funds Prlor Yoar Total F5 2024 2024 2024 2023 Bank Interest Recèivable Total inv•slment income
Ocean City College Ltd Detallod anaty8i8 of Ineomo and expendllurè for tho y•ar ended 31 August 2024 as rnquired by tho SORP 2015 28 Expondllure on charltablo actlvitiw - Dlraet spondlng CuThthtsw Currenlyo•r Unr•strlct•d Funds Current aT Total Funds Prlor Y Total FurKI$ Funds 2024 2024 2024 2023 Gross vmges and salaries - charitable activrties Employers, Nl- Charitabl8 activitses Defined ntribUtIOn pension Costs - charitable actlvltles Travel and Subsrst8nc8 - Charitab18 Actiwties Stsff uniform - Charitable Acvities 142,989 142,989 153.622 7,152 7.152 7.821 2.79) 2.750 29 29 33 Marketing and advertising of charitable ser¥i Total dlrect spendlng 1,758 1¥678 1.758 265 1x678 165.095 29 Expendituro on charltable a¢tlvltlos - Charltabl• tradlng ¢vrrnnt>4r Currwrt Current S Unr•strl¢ted Restricted Total FLwbJ Funds Fund5 2024 2024 Prfor Y• Total Fundts 2024 2023 Costs of primary purpose and ancillary trading to benefft beneficiaries 50,770 50.770 101,388 T¢>tal charitabh tradlng 50.770 101.388 30 Expondlture on charltablg actlvlllas- Fundlng of a¢ilvitie$ Current r Curmnt year Restrictad Funds Current year Totsl Fund8 Prlor Y•ar Totsl Funds FundB 2024 2024 2024 2023 Cost of fundraising activities & events Totsl Fundralsing ¢osts 30
Ocean City College Ltd Detsiled anatysis of Ineomo and expenditure for the yoar ended 31 August 2024 as requirod by the SORP 2015 32 Other Expenditure - Governanc• costs Current year Unrestric Funds CuNent year R8stri(a4d Fur Cun8nt year Total FutKI¥ Prlor Year Totsl Funds 2024 2024 2024 2023 Independént Examlnerfs fees Total Gov•rThinc8 costs B2e 33 Total Charitable expondlture Current year Unre¥tdcted Fund¥ Curront ygar R8stsl¢tod Funds Current year Total Funds PriorY•Ar Total Fund8 2024 2024 2024 Total dlrect spénding Total charitable trading costs Total Fundraising costs Total support costs Totsl Governance costs 154.678 154,678 165,149 B2b B2c B2d B20 45.205 1,250 45.205 1250 138.498 1,250 Tol•l charftablè •xyndltsJre B2 251 33