COMPANY REGISTRAIION NUMBER: 04327256 CHARITY REGISTRATION NUMBER: 1092908 Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 CS ACCOUNTING LIMITED 5 Mcmillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Financlal Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's reporti Independent examiner's report to the trustees Stotement of financial activities (including income and expenditure occountl Statement of finoncial position statement of cash flows 10 Notes to the financial statements The followlng pages do not form part of the flnanclal statements Detailed statement of financial activities 20 Notes to the detailed statement of financial activities 22
Oxclose and District Young Peoples Projecl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 7he trustees. who are also Ihe directors for the purposes of company law, present their report ond the vnoudited financial stalements of the charity for the year ended 31 March 2024. Reterence and odministratlve details Reglsteied charlty name Oxclose and District Young Peoples Project Limited Charlty reglstratlon nvmber 1092908 Company reglstratlon nvmber 04327256 Prlnclpal offlce and registered Ayton Centre office Dunlin Drive Aylon Washington Tyne & Wear NE38 OEB The tiustees Ms J Eland Mr P Dawson Ms P Hegarty Ichairpersonl Mr DI Johnson (Treasurer) (Resigned l February 20241 Independenl examlner C Smith CS Accounting Limited 5 Mcmillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF Structure, governance and management PUBLIC BENEFIT We have referred to the guidance contained in the Charity Commission's general guidonce on public benefil when reviewing our aims and objectives and in planning our future activities. In particular, Ihe Trustee Board consider how planned oclivilies will contribute lo the oims ond objectives they have set. The Trustee Board reached the conclusion thal the Charity's aims and objectives did fall within the appropriale charitable purpose. The truslees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 lo hove due regard to the Chority Commission's general guidance on public benefit.
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Trustees, Annual Report (Incorporaling the Director's Report) fcontinved) Year ended 31 March 2024 OBJECTIVES AND ACTIVITIES Objectlves and alms To promote the benefil of young persons between I l and 25 living in Washington and the surrounding areas without distinction of sex, polilics. religion, or opinions in association with the local authorities, voluntary organisations and those young per50n5, in a common effor* to advance education and to provide facilities in the interests of social welfare for recreation and leisure lime occupation with the objects of improving the conditions of life of those young persons so as to develop their physical, mentol and spirituol capabilities so that they may grow to lull malurity within the community. Charltable actlvltles and ochlevemenls I hove greal pleasure in introducing this Annual Report which is a celebration of Ihe work undertaken by the ODYPP. It has been onolher busy year with a large number of young people from across Washington occessing our provision. Our youlh clubs have offered a wide ronge of opportunilies and hove been well ottended by many young people belween the ages ol eighl and nineteen. We have also given young people opportunities lo participate in out of centre activitie5 including bike rides ond ice skaling. Our post 16 troining has supporled mony young people lo raise aspirations, gain confidence as well as improve skills and gain qualifications. Our project has continued lo be successful with support from our many porfners. We are exlremely grateful of the support we have received. We would like to give our thanks to The All Together Consortium. Washington Area Committee. Sunderland City Council, Sunderlond Career5 Service, Oxclose Community Academy, our locol Police Community Team. The past year has been challenging lor the boord dve to financiol pressures. The finoncial outlook for future years looked grim and the board had to moke difficult decisions to ensure the long term viability of the projecl. None of this could have happened withoul our hard working and enthusiastic stoff team who are focused on providing high quality social and learning opportunities to a wide range of young people. I would like to thank them for their commitment to the young people and the project. Thank5 also go to Ihe Management Committee for their support and advice in driving lorward the ogenda. study Programme 2023-24 has been a unique year for ODYPP because from the end ot July 2023 we stopped delivering out full-time Study Progromme. Unfortunately, Springboard with whom we had been sub-conlracted to deliver post-16 Iroining for many yeors greatly reduced the number of subcontractors that they worked with which included ODYPP. Before the end of our controct ten learners completed their programme and gained a level I diploma in Ski115 for Employment, Training and Personal Development. Some learners also gained functional ski115 qualifications in maths and English All of our learners participated in
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (contlnued) Year ended 31 March 2024 meaningful work experience plocements in an orea of their choice. Young people also completed work placemenfs at, Washington Riding Centre, Vigo Lane Garage and in house with ODYPP. Springwell Village Community Venue is another of the organisotions that continued to support us and offer a number of work placements to learners. Young people were given opporlunities to work in the cosy Café and in the office as well os helping to prepare for the annual 1940s evenl thal is hosted by Springwell Village Community Venue. Hollday Aclivitles During the Easter holiday period we offered young people access to out of centre holiday octivilies including Inflataspace, ice-skating, Laser Quest. Whitley Boy Ice Rink and bowling at Hollywood Bowl. During Ihe May-June half term school holiday period young people enjoyed visits to Jump Gianl trampoline park, Laser Quesl, bowling ond ice-skaling ol Whitley Bay. In the summer holidays we offered a voried ond exciting programme of activities to young people across the five wards of Woshington. Young people porticipated ond enjoyed octivities including poddle boarding at Harllepool Marina, a high ropes course at Tees Barrage, Beamish open oir museum and a day Irip to Flamingo Land. The trip to Flamingoland was particularly popular with sixty young people braving the rides and enjoying the zoo. During the October holidays young people had greal fun at York Dungeon, Northumberlond Zoo, pumpkin picking at Brockbushes Farm and Beamish open air museum. A group of young people also hod an action packed day at Whickham Thorns where they braved the high ropes course and obstocle course and worked in a team to play gomes of laser tag. In the Christmas holidoy period we offered young people holidoy oclivities including ice skating ot Whitley Boy and South Shields outdoor ice rink and bowling. All young people thal participated in activities enjoyed their experience ond ore keen lo take parl in future activities within and outside of Iheir youth clubs. Good Vlbe5 The Good Vibes Projecl has continued to support young people from Washington through one- lo-one counselling sessions wilhin our youth centres. The service conlinues to offer counselling sessions for young people without a wailing list. The counselling service hos been well promoled through youth club5, outreach youth work, on our Facebook page. in local schools and through NHS Sociol Prescribers. Our Good Vibes youth clubs have continued to give young people aged 10-19 occess to cenlre based youth clubs where they con participate in a range of activities, socialise and receive information, advice and guidance from qualified youth workers.
Oxclose and District Young Peoples Project Limited Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conllnved) Year ended 31 March 2024 Youth clubs take place every week at the Pitstop, Ayton Community Centre, Oxclose Community Acodemy and Sulgrave Centre. All of the youth clubs are well attended by young people from acr05S the five wards of Washington. Fvn wlth Flnonce ODYPP have worked in portnership wilh Shiney Advice ond Resource Projecl ISHaRPI lo deliver Fun with Finance sessions to young people. Sessions are aimed at helping young people to be more finoncially aware and resilient and focus on topics such as budgeting, essential and non- essential spending, gambling and illegal money lending. Fun with Finance sessions hove been delivered in our youlh clubs and as part of the programme young people plon and budget for an octivity of their choice. Activities enjoyed by the young people hove included go-karting, o trampoline park and escape room experience. Washinglon Youth Councll Washington Youth Covncil hod another successful year working lowords their aims of representing young people living in Washington, giving young people a voice and promoting positive images of young people. In April Ihe group participated in the pilol Fun with Finance Progromme where they received information on a range of topics including essential and non-essential spending, illegal money lending, gambling and scams. On completion of the programme the young people gave feedbock on the programme. what Ihey felt went well and gave suggestions for improvements. In August Washington Youth Council hosted their onnual family fun day in Celebrotion of Inlernolionol Youth Day. The event was a greot success with over four hundred people of oll ages attending and enjoying the free octivilies which included an inflatoble assault course, rodeo bull. face pointers, a football speed cage, petting farm and wipe out zone. As part of the fun day a bake sale was held to raise funds for the Teenage Cancer Trust. Cakes, scones and other baked goods were donated by local shops and cafes os well as local people. family members and friends which resulted in £475.85 being raised. Woshinglon Youth Council entered a nalionol competition from the Char*ered Troding standards Institule to find Ihe Young Consumer Influencer of the Year. Their entry of o poem entitled Not So Canny Annie and occompanying video warned of the dangers of illegol money lending. Following a Successful social medio campaign the group were announced os winner5 of the award. In November members of Washington Youth Council Iravelled to London to attend the owards ceremony ol Ihe House of Commons where they performed their poem and received their award. The following day the group had a tour of the House of Commons and met with their local MP Sharon Hodgson for a chat, cup of tea and cake. The young people had a great time in
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (continued) Year ended 31 March 2024 London and it wa5 the first time in the capital for them all. In December Washington Youth Council made on appeal for donations of pamper products which they used to creale hompers for the women living in Wearside Women in Need refuges over the Chrislmos period. The group were aware that women who have fled domestic violence oflen leove their home with little or no possessions and are likely to spend any money that they have lo provide Christmas presenls for their children. Woshington Youth Council wanted to help the women to have something for themselves that they could enjoy over the festive period. The group had a fantostic response from the public and were supported by Columbia Community Associalion who offered to use their building as a drop-off point. The week before Christmas members of Woshington Youth Council delivered large boxes full of pamper products including bubble baths and shower gels, bath bombs and face packs. In March 2024 Washington Youth Council allended the onnual Sunderland Young Achievers Awords at Rainton Meadows Arena where they were announced as the winners of the Local Community Award in recognition of oll of their work to supporl the local community over the year. The awards ceremony was o fantastic opportunity lo celebrote young people across the city and their achievemenls. Tolal Contacts 8988 Individual 3694 New Contacts 1117 FINANCIAL REVIEW The financial resulls for the charity are deloiled in the annexed Slatemenl of Financial Activities ond Balance Sheet together with the reloted noles. The net deficit on incoming resources for the year omoun*ed to £51,491 12023 £19,670) due laigely to a management reorganisation. The surplu5 attributable to general reserves stands at £391.99812023 £443,489) and the surplus relating to restricted reserves stands at nil12023 nill. The chority conlinues fo rely on short lerm grant funding lo carry out its activitie5. RESERVE POLICY Unreslricted funds amount to £391 k12023 £443kl but, of this the freely available balance stands much lower at approximately £121 k 12023 £133kl since there ore designated funds of £270k 12023 £310kl. The designations include a Redundancy Fund of £70k 12023 £IIOkl. a Replacement Van/Minibus Fund of £75k 12023 £75k} and a Building Refurbishment Fund of £125k12023 £125kl. The trustees hove determined thal the minimum level of free reserves to be held. which are nol invested in tongible fixed assets, should usually be the equivalent of six months expenditure, approximately £1 l Ok.
Oxclose ond Dlstricl Young Peoples Projecl Llmiled Company Llmlled by Guorantee Trustees, Annuol Report (Incorporallng the Dlreclor's Report) leop•knv•dJ Yeai ended 31 Maich 2024 f UTVRE PIANS Tl)e Woik Pion lor 2024 202$ is lo ei)swe contlue irnpiovenieni ol ODYPP ontj the seivice) il ollers. rhe tri151eo5 onnuthl rep%yI orid Ilie stroieg4r. ier)orl were opproved oil 12 Decembvr ?Q?4 ond signed on beholl ot tlie booi¢ ol IIL151ees by.. Ms P Heqorly Ichniiporsonl Iru>tee MIDIJ Trvslee hn50n IlreosuBrl
Oxclose and District Young Peoples Project Limited Company Llmlled by Guarantee Independent Examlner's Report to the Trustees of Oxclose and District Young Peoples Project Limited (contlnved) Year ended 31 March 2024 I report lo the trustees on my examination of the financial statements of Oxclose and District Young Peoples Project Limited I'the charity'l for the year ended 31 March 2024. Responslbilities and basls of report As the trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordonce with the requirements of the Compcnies Act 20061'the 2006 Act'l. Hoving satisfied myself that the occounts of the company are not required lo be audited under Part 16 of the 2006 Acl and are eligible for independent examination. I reporl in respect of my examination of the charily's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of Ihe 2011 Act. Independent examlner's statement I have completed my examination. I confirm Ihal no matters have come to my attention in connection with the exominotion giving me couse to believe: occounling records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do nol occord with those records; or the financial stotements do not comply with the accounting requirements ol section 396 of the 2006 Act olher than any requirement that the occounls give a 'true ond fair. view which is not a matter considered os part of an independent examination,. or the financial statements have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Proctice for accounting ond repoiting by charities applicable to charitie5 preparing their accounls in occordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. I have no concerns ond have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. C Smith Independenl Exominer 5 Mcmillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
Oxclose and District Young Peoples Project Limited Company Llmited by Guarantee statement of Flnanclal Activities (Includlng income and expenditure account) Year ended 31 March 2024 2024 Unrestricled Res*ricted funds funds Tolal funds Tolal funds 2023 Note Income and endowmènts Donations and legacies Investment income 55,996 137 155,099 211,095 137 193,346 208 Total income 56,133 155,099 211,232 193,554 fxpendlture Expendilure on charitable activities Total expendlture 107,624 155.099 262,723 213,225 107.624 155,099 262,723 213,225 Nel expendlluie and nel movement In funds 151,4911 151,4911 119,6711 Reconclllatlon ol funds Tolol funds brought foard Total funds cairled foiward 443.489 443.489 463,160 391,998 391,998 443.489 The 5tatemenl of financial octivities includes all gains ond losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages I I to 18 form part of these flnonclol slalemenls.
Oxclose and Districl Yovng Peoples Project Llmlted Company Llmiled by Gvoronlee Slalemenl of Finoncial Posltlon 31 March 2024 2024 2Q12J Nole ¢vii•nl assets DoblDIs Cash n., born& Ofid iri hand 14 1.546 352.69? 499 394 ??0 461 ChJ6 Ci¢dlltsis- amovnls lalling wllhin one year N¢1 curienl osseli 2.228 17,517 391.gY8 443, 489 Tolal osse15 less cuiienl Fiobililies N•1 ussels JY1.998 441 489 391 998 4dl.4A9 Funds ol Iht charlly 391.998 443 489 lolgl chority Ivnds Is ?91.998 443, 48P Pc'r IIIL. yp.11 pllk-Iiri¢ 31 I.IoiLh ?1?d Ihp c.hn'ify w05 eril,11g.rJ lo etii,'IliLiii IrJrTI uddil iindtw S(J IIDr, 477 0.1 11 IL. CL>ii iponip.i Ar. 4OD6 fFrylotIfi Ic) SFTiall .-nn",pririses. Diip.r. lYi%' respctlS)t)jlilio5' 11)e iTriervibors not i¢'iiwrL'rJ flie c.rJmpniy lo obluii., ui) outtii 04 ils Iii)oiici(Il slulufftevi15 1..11 ', he yrfjr iri G-vos114n in oc COlOOi'Le Y/illTr sec. lion 47&.. IIIL. ec.10T3 (li ki)Q'ilL.dye Ihp.i' iesponsit)Iiilits1(H Lvmi)li biiia will", Ihe rc'oLJIIL'ITl¢.rils o,. Ihe Ac I with lu uocouiil r o ie - oid'j opiu IhL' pre{)kirn*ioii oi 111)iJi)4iul sfulemenl5. Ih£¥5e linonc.io1510loiricri15 have beer, orepoiLbcl In occ ordonce w'tifi Ifio p'ovi5ions apiilic obl¢ lo cc>nir>Oryies <obi¥L I lo ltriP smoll coiiii)Ll'1,L's' regim TkiP.sp. linaniiol 51ulemenl% were opK)iovu(J by Ikig. ht)nf(J ol IiLi&IoL'¥ Ul)d aijlhnriserl lol tr55ue 01 I l ? P.oc ènitsL'r 2024. nnrj o'o Signecj Jii bohc)11 nl tlie booicl by. IAS P iieiiiirl¥ rpersonl Tiuslc'c. If l Jol TIvJsurpil Thp nolvs on goge3 1110 18 1M purl ol these Iln4]nclol slotem¢nls
Oxclose and District Young Peoples Project Limited Company Limlted by Guarantee statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating acllvllles Net expenditure 151,4911 119,6701 Adjustments for.. Depreciation of tangible fixed assets Other interest receivable and similor income 28,794 12081 11371 Changes in.. Trade and olher debtors Trade and other creditors 11,0471 115.2891 1,727 15.177 Cash generated from operations 167.9641 25.820 Inlerest received 137 208 Net cash (used inl/from operating activities 167,8271 26,028 Cash flows Irom Investlng octlvltles Purchase of tongible ossets Net cash used in investing aclivilies 128, 7941 128,7941 Nel decrease In cash ond cash equlvalenls Cash and cash equlvalents at beglnnlng of year Cash and cash equlvalenls at end of year 167,8271 460,508 12.7661 463.274 392,681 460,508 The notes on pages I 110 18 form part of Ihese financlal slalements. 10
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Notes to the Flnancial Stalements (conllnved) Year ended 31 March 2024 General informatlon The charity is a public benefil entity and a private compony limited by guoranlee, registered in England and Wales and o registered charity in England and Wales. The address of the registered office 15 Ayton Centre, Dunlin Drive, Aylon, Woshington, Tyne & Wear. NE38 OE8. Slatement of compllance These financial statements have been prepared in compliance wilh FRS 102. 'The Financial Reporting Stondard applicable in the UK and the Republic of Irelond,. Ihe Statement of Recommended Practice opplicable to chorilies preparing their accounts in accordance with the Financial Reporting Standord applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accounling pollcles Basis ol preparollon The financial statements have been prepored on the hislorical cost basis. as modified by Ihe revaluation of certain finoncial assets ond liobililies and investment properties measured ot fair volue through income or expenditure. The financiol statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no materiol uncertointies about the charity's ability to continue. Fund occovnllng Unrestricted funds are availoble for use ot Ihe discretion of the trustees to further any of the Charty,5 purposes. Designated funds ore unrestricted funds earmorked by the Irustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, ond fall inlo one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the stalement of financiol acfivilies when enlillemenl has passed to the charity.. il is probable that the economic benefits associated with the transaction will flow to the chority and the amount can be reliably measured. The following specific policies are applied to particulor categories of income.. income from donalions or granls is recognised when there is evidence of entitlement to the gift, receipt is proboble and its amount can be measured reliably.
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Notes to the Financial Statements (continved) Year ended 31 March 2024 legacy income is recognised when receipt is probable and entitlement 15 established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably. in which case Ihe value is derived from Ihe cosl to the donor or the estimated resale value. Donated facilities and services ore recogrnised in the accounls when received if the value con be reliably meosured. No amounts ore included for the contribution of general volunteers. income from conlracts for the supply of services is recognised with the delivery of the contracted service. This is classified os unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted. Resources expended Expendilvre is recognised on an occruals basis as o liobility is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified vnder headings of the slatemenl of financial activities lo which it relates.. expendilure on raising funds includes the costs of all fundraising activities. events. non-choritable trading activilies. and the sole of donated goods. expenditure on choritable activitie5 includes all costs incurred by a charity in undertaking activilies that further its charitable aims for the benefit of it5 beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. olher expenditure inclvdes oll expenditure that is neither reloted to raising fund5 for the charify nor part of its expenditure on charitable activities. All costs are allocated to expendilure categories reflecting the use of the resource. Direct costs atlributoble lo a single activily ore allocoted directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are inilially recorded at cost. and subsequently stated at cost less any accumulated deprecialion and impairment losses. Any tangible assets carried at revolued amounts are recorded at the fair value at the date of revaluation less any subsequenl accumulated depreciation and subsequent accumuloled impairmenl losses. An increase in the carrying amount of on asset as o result of o revaluotion, is recognised in other recognised gains and losses, unless it reverses o charge for impairment thot hos previously been recognised as expenditure wilhin the statement of financial activities. decrease in Ihe carrying amounl of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which it offsets any previous revaluation gain. in which case the loss is shown within other recognised goins and losses on the statement 12
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Notes to the Flnancial Statements (conllnved) Year ended 31 March 2024 of financial activities. Depieciatlon Depreciation 15 calculated so as to write off the cost or volualion of an assel, less its residual value, over the vseful economic life of Ihal ossel a5 follows.. Plant and mochinery Fixtures and fittings Motor vehicles Written off in full in year of purchase Written off in lull in year of purchase Written off in full in year of purchase Impolrment of fixed assets A review for indicators of impairmenl is carried oul at each reporting date. with Ihe recoverable amount being estimated where such indicators exist. Where the carrying volue exceed5 the recoverable amount, the osset is impaired accordingly. Prior impairments are also reviewed for p055ible reversal ot each reporting date. For the purposes of impairment testing, when it is not possible to estimate Ihe recoverable amount of an individual asset, an eslimate is made of the recoverable amount of the cash-generaling unit to which the 055et belongs. The cosh-generating unit is the smallest identifiable group of ossels that includes the asset and generates cash inflows thot largely independenl of the cash inflows from other assels or groups of assels. For impoirment testing ol goodwill, Ihe goodwill ocquired in a business combination is, from the acquisilion dote. ollocated to each of the cash-generoling units that are expected to benefit from the synergies of the combination, irrespective of whether other 055ets or liabililies ol the charily are assigned to those units, Flnanclal Instrumenls A financial asset or o linoncial liability is recognised only when the charity becomes a porly to the controctuol provisions of the instrument. Basic financial instruments are initially recognised ot the amount receivable or poyable including any relaled transaction costs. Current assets and current liabilities are subseqvenlly measured at Ihe cosh or other consideration expected to be paid or received and not discounted. Debt inslruments are subsequently measvred at amortised cosl. Where investment5 in shares are publicly Iraded or their fair value can otherwise be measured reliobly, the investment is subsequently measured at fair value with changes in fair value recognised in income ond expenditure. All other such investments are subsequently meosured ot cost less impairment. other financial instruments, including derivatives. are initiolly recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rote of interest that is nol a market rate, in which case the asset is measured at the present 13
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2024 volue of the fulure payments discounted al a markel rate of interest for a similar debt instrument. Other financial instruments are subsequently meosured at fair value, with any changes recognised in the stalement of financial octivities. with the exception of hedging instruments in a designoted hedging relationship. Financial a55etS that are meosured at cost or amortised cost ore reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairrnent loss is recognised under the uppropriate heading in the stalement of financiol octivities in which the initial gain wos recognised. For all equity instruments regardless of significance, and olher financial assets that are individually significont, these are asse55ed individually for impairment. other financial 05sets are eilher ossessed individually or grouped on the bas15 of similar credit risk characterislics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying omounl of the financiol osset Ihot exceeds whol the carrying amount would have been had the impairment not previously been recognised. Defined contrlbutlon plans Contributions to defined contribulion plans are recognised as on expense in the period in which the related service is provided. Prepaid contributions are recognised as on 05set to the exlent Ihot the prepoyment will lead lo a reduction in future payments or o cash refund. When contributions are not expected to be settled wholly wilhin 12 monlhs of the end of the reporting date in which Ihe employees render the related service, the liability is measured on o discounted presenl value basis. The unwinding ol the discount is recognised as on expense in the period in which it arises. Llmlled by guarantee The company is limited by guaranlee, not having a share capital and consequently the liability of members is limited, subject to an underloking by each member to contribute to the net ossets or liabilities of the company on winding up such amounts as may be required not exceeding £1. 5. Donatlon5 and legacle5 Unrestricted Restricted Tolal Fvnds Funds Funds 2024 Donatlons Donations Room hire 1,020 6.907 1 ,020 6.907 14
Oxclose and District Young Peoples Project Limited Company Llmlted by Guaranlee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 Grants Springboard Sunderland All Together Consortium Sunderlond City Council GMBC Sharp - Money Motler5 Olher small grants 21,309 15,738 21,309 92.083 42,007 76,345 42,007 11,268 25,479 11,268 36.501 11,022 55.996 155.099 211.095 Unrestricted Restricted Total Funds Funds Funds 2023 Donotions Donations Room hire Giants Springboard Sunderland All Together Consortium Sunderland City Council GMBC Sharp - Money Matters Other small grants 141 7,528 141 7.528 41.404 41,404 79,884 42,209 19,931 79,884 42,209 19,931 2,249 2,249 49,073 144,273 193,346 Investmenl Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 137 137 208 208 Expendllure on choiilable actlvltles by fund type Unrestricted Restricted Tolal Funds Funds Funds 2024 Direct costs Support costs 2,588 105,036 23,502 131,597 26.090 236,633 107.624 155,099 262,723 Unrestricted Restricled Total Funds Funds Funds 2023 Direct costs Support costs 8,891 60,061 25,492 118.781 34,383 178,841 15
Oxclose and District Young Peoples Project Limited Company Llmited by Guarantee Notes to the Financial Statements (continved) Year ended 31 March 2024 Expenditure on charilable octivities by actlvlfy type Activities undertaken directly Support Total funds costs 2024 Tolal fund 2023 Choritable octivity Net expendlture 26,090 236.633 262.723 213.224 Net expendilure is stated after charging/lcreditingl'. 2024 2023 Depreciation of tangible fixed assets 28.794 10. Independenl examlnatlon fees 2024 2023 Fees poyable to the independent examiner for.. Independent examination of the financial stalemenls 1.800 1,800 l l. Slaff costs The tolal staff costs ond employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and 501ories Social security costs Employer contributions to pension plans 172,112 7.604 8,400 132,438 6.767 4,472 188,116 143,677 The overage head count of employees during the yeor was 812023: 91. No employee received employee benefils of more than £60,000 during the year12023: Nill 12. Trustee remuneralion and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 16
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Notes to the Flnanclal Statements (confinued) Year ended 31 March 2024 13. Tangible Ilxed assels Plant and Fixtures and machinery fittings Motor vehicles Tolal Cosl At l April 2023 Disposals Al 31 March 2024 18,795 12,917 51,889 123,0951 28,794 83,601 123.0951 60.506 18.795 12.917 Depreclallon At l April 2023 Disposals At 31 March 2024 18,795 12,917 51,889 123,0951 28,794 83,601 123.0951 60,506 18.795 12,917 Carrylng amount At 31 March 2024 At 31 Morch 2023 14. Debtors 2024 2023 Prepayments and accrued income 1,546 499 15. Ciedltors". amounts lolling due wlthln one year 2024 2023 Accruals and deferred income other creditors 2.340 17.629 11121 17.517 2,228 16. Deferred Income 2024 2023 Amount deferred in year 15.289 17. Penslons and other post retlrement benellts Deflned contribvtion plans The amount recognised in income or expenditure a5 an expense in relation to defined contribution plans wos £8,40012023: £4.4721. 17
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Notes to the Financlal Statements (continued) Year ended 31 March 2024 18. Analysls of charlloble Ivnds Unrestricted funds At 31 March 20 24 At l April 2023 Income Expenditure General funds 443,489 56.133 1107.6241 391,998 At 31 March 20 23 At l April 2022 Income Expenditure General funds 463,160 49.281 168.9521 443,489 R•stslcled funds At 31 March 20 24 At l April 2023 Income Expenditure Restricted Fund 155,099 11 55,0991 At 31 March 20 23 At l April 2022 Income Expenditure Restricted Fund 144,273 1144.2731 19. Analysls of changes In net debt Al At l Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 460.508 167,8281 392,680 18
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Management Informatlon Year ended 31 March 2024 The followlng pages do not foim part of the flnanclol statements. 19
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Detailed Statement ol Financial Actlvlties Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Donalions Room hire Springboard Sunderland All Together Consortium Sunderland City Council GMBC Sharp - Money Motters other small grants 1.020 6,907 21,309 92.083 42,007 141 7,528 41,404 79,884 42.209 19.931 11,268 36,501 2,249 211,095 193.346 Inveslment Income Bank inleresl receivable 137 208 Total Income 211,232 193,554 Expendlture Expendlture on charltable actlvHle$ Wages and salaries Redundancy Employer's NIC Pension costs Rates and water Lighl and heat Repairs and moinlenance Insurance Motor vehicle expenses Legal and professional fees Telephone Other office costs Cost of replacement mini bus (after insurance claiml Education costs Activity costs 132,112 40,000 7.604 8.400 1 ,399 6,287 32,411 1,316 3,952 2,570 567 15 132,438 6,767 4,472 1,489 3.909 3.817 1.351 3,760 2,491 554 17,793 8,892 25,492 2,588 23,502 262,723 213.225 Total expendlture 262.723 213,225 20
Oxclose and District Young Peoples Project Limited Company Limited by Guarantee Delalled Statement of Financial Activitles (conllnued) Year ended 31 March 2024 2024 2023 Nel expenditure 151,4911 119,6711 21
Oxclose and District Young Peoples Project Limited Company Llmlted by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expendilure on charltoble activilles Actlvlties vndertaken dlrectly Education cosls Activity costs 2,588 23,502 8.892 25.492 26,090 34.384 Support CO515 Wages15alaries Redundancy Employer's NIC Pension costs Rates & water Light & heal Esloblishment cosls Insurance Motor ond travel costs Legal and professional fees Telephone Office costs Cost of replacement mini bus lafter insurance claim) 132.112 40,000 7,604 8,400 1,399 6.287 32,411 1,316 3,952 2,570 567 15 132.438 6,767 4.472 1,489 3,909 3.817 1,351 3.760 2,491 554 17,793 236,633 178,841 Expendlture on charltable actlvltles 262.723 213.225