2024-03-31-accounts

RECYCLING OLLERTON AND BOUGHTON

ANNUAL REPORT

2023/2024

RECYCLING OLLERTON AND BOUGHTON

PAGE | 02

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RECYCLING OLLERTON AND BOUGHTON

PAGE | 03

MANAGEMENT COMMITTEE MEMBERS 23/24

Officers

Chairperson Richard Whall Treasurer Matt James Company Secretary Lynn Pike CEO Neil Pike

Trustees

Elizabeth Phillips

Neil Pike

Richard Hartburn

Joanna James Matt James

Richard Whall

Organisation Status

Registered Charity No. 1096735

A Company Limited by Guarantee Reg. in England & Wales No. 04551116

Andy Statham Stephanie French

RECYCLING OLLERTON AND BOUGHTON PAGE | 04 —Ell—~—

CHAIRMAN'S REPORT

Before I recount on a very successful year at ROB, I would like to start my annual report by recognising the recent sad loss of our friend, trustee, father, father- in-law and former ROB employee, Richard Hartburn. Richard was a great servant of ROB over many years. He was always the first Trustee to respond to any email request, but only added his considered contribution to any board discussion after carefully listening to others. Richard will be sadly missed by us all.

A strong financial performance of any charity is an essential element for the long term health of the organisation and the last year was one of our most financially successful for many years with a £49k surplus. The last eight years have thrown every conceivable challenge our way resulting in volatile financial results. Four years of losses and four years of surplus have shown an eight year £5k average surplus and demonstrated why it is essential for good charities to have a significant reserve to survive and flourish.

ROB has a successful strategy of incremental growth which was challenged by bizarre· circumstances with Newark and Sherwood’s debatable plan to offer a competitive glass collection service on the fifth of the district already served by ROB. The backlash to this unnecessary duplicate service resulted in almost a thousand new household customers requesting to be served by ROB instead of N&S. Fortunately this increase in customers has been matched by a 11% increase in student days with additional trucks to service the demand. Therefore, ROB has currently benefited in above normal growth in the last year, however, wise leadership will be needed to ensure this gain is built upon and not eroded in the years ahead. There is an inevitable bottleneck in ROBs growth which is currently evidenced in canteen space which will be a key project to enlarge in the year ahead.

ROB’s lease position has been uncertain for a number of years which has now been resolved since the year end with a signed three-year lease. The long term beyond the new lease should also include exploring other locations to give more space and control. This work needs to be concurrent with the lease as any possible move will take years of planning.

RECYCLING OLLERTON AND BOUGHTON

PAGE | 05

After a period of high inflation and the cost of living challenge the board was proud to maintain its adherence to the Living Wage Foundation and give an above inflation wage rise to all staff. This has only been possible due to the strong organisation performance and affordability.

ROB goes into its 25th year in its strongest ever position with ongoing governance improvements for the long-term health of ROB. There is a growing need to provide the service for our students and increasing recycling demand to keep them in worthwhile work. I give thanks to the trustees and staff for their support and have the confidence that the charity is well run and prospering in a very difficult climate. However, I am equally sure that we must never show signs of complacency as the challenges ahead will be significant.

Richard Whall.

Chairman.

RECYCLING OLLERTON AND BOUGHTON

PAGE | 06

PARENT’S REPORT

Luke had previously attended Reach before joining R.O.B. He would often return home feeling unhappy and expressing that he felt as if he was still in a school environment. He was frequently angry and lacked motivation to engage in activities outside of the house or for his own personal development.

However, since he began attending R.O.B., a remarkable transformation has taken place. He now exudes confidence and demonstrates increased independence at home. He eagerly participates in family outings and expresses a positive attitude towards work.

Luke highly values the respectful and supportive atmosphere at R.O.B., where he feels acknowledged as an adult and can freely express himself. He also appreciates the understanding and empathy shown by the staff during challenging times.

Luke says 'i love all the staff, they are all kind and make me laugh. The food is lovely. I would go to ROBs every day if I could. It is an amazing place and they deserve a medal putting up with me.'

Going to ROBs has definitely changed Luke for the better, he is more independent and does more for himself but most of all Luke is happy and that makes us happy.

Thank you ROB.

Tracey and Karl

RECYCLING OLLERTON AND BOUGHTON

PAGE | 07

CEO'S REPORT

After a few years that were severely influenced by a global pandemic and an energy/inflation crisis, 23-24 could be reflected upon as predictable. Nothing surprised us and the main worry we had to deal with was higher than expected growth.

Our student attendance grew by 11% to 117½ days per week, with 2 new students coming aboard as well as increased attendance to a couple of our established students. This is an increase slightly above expectations but has been controlled and fits with our Vision of ‘enriching the lives of more people with Learning Disabilities’

The above expected level of growth we have seen in the past few years have given rise to the problem of a bottleneck in the space available in our canteen. We have submitted several funding bids to enable us to extend our canteen and have been successful in one to the tune of about a third of the funds needed. A second grant application has been stalled by the need to complete the Lease situation with our landlords. Moving forward, it is critical that both the Lease and the Canteen are completed at the soonest possible point to ensure that we can continue to give meaningful opportunities to anybody suitable who chooses to attend our service.

The additional growth of the service has seen us not only continue to update our fleet of vehicles but also choose to increase the size of the fleet to 6 trucks. Unfortunately, given the nature of our charity, we aren’t very gentle with our fleet and often find them in need of repair. To ensure that these repairs don’t hinder the services we deliver, it is a must to have a spare vehicle at all times.

RECYCLING OLLERTON AND BOUGHTON

PAGE | 08

Further progress was made by Newark and Sherwood District Council with their intended Kerbside Glass Collection Scheme. They gave information of plans to be in operation from April 2024 and were met by great consternation from ROB’s loyal subscribers. Following the success of our leaflet drops and heightened social media activity, we delivered a record number of recycling boxes to households in our areas and secured the funding for these boxes from the District Council. The biggest certainty we can take from the situation is that we do have the backing of the communities we serve and although the NSDC service is a threat, we’ve confidently confronted it and have for the time being, more than maintained our position. What we now have to do is to ensure that we don’t become complacent as our glass collection customers now have another option.

3 years-in from the beginning of the Covid and we appear to still be suffering the effects.In June 23, as we were aware that our own restrictions were far more stringent than anywhere else, we relaxed our Covid protocols and ceased any non-symptomatic testing of both staff and students. Unfortunately, Covid wasn’t finished with us, and in the run-up to Christmas it devastated our personnel causing us to close to students a week earlier than expected and to postpone the Christmas Dinner until February. Fortunately, though we had 11 cases of Covid in the organisation in a 2-week period, costing us 41 working days, nobody was seriously ill.

Throughout the year, a great deal of time was taken to support 2 of our students with Cancer diagnosis’. Happily, at the time of writing this report, they have both had positive outcomes, but what the experience has shown is that without organisations such as our own, there would be a huge hole in the support of vulnerable people when they most need that support.

Further to our aim of being the best that we can possibly be, we have bolstered the training of our staff in several different ways. All our staff are now registered with Careshield, an online training platform which ensures that their knowledge and skills are polished and reinforced. Many of the 26 courses on the platform are renewed at regular intervals in order to act as reminders of ‘best practice’. On top of this we now have a trained Mental Health First Aider, an additional trained forklift truck driver, our Business Assistant has successfully completed her apprenticeship and we are in a position to train our own staff in crisis prevention.

In conclusion, what the year has shown is that without exceptional obstacles, our business model is strong. It has the ability to create substantial surplus if unhindered, and is strong enough to survive in the toughest times.

Neil Pike

CEO

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 MARCH 2024

Unrestricted Restricted Funds Funds £ £ INCOME FROM: Donations and legacies10,432 750 Investments1,983 - Charitable Activities687,776 - Other Income 3,000 - TOTAL INCOME 704,458 750 EXPENDITUE ON: Raising funds1,854 - Charitable activities 586,585 2,394 TOTAL EXPENDITURE 586,585 2,394 NET INCOME/(EXPENDITURE) 48,910 240 Transfer between funds 750 (750) Net movement in funds before other recognised gains/(losses) 49,660 (510) Other recognised gains/(losses) 533 - NET MOVEMENT IN FUNDS 50,193 (510) RECONCILIATION Of FUNDS: Total funds brought forward144,304 1,035 Net movement in funds 50,193 (510) TOTAL FUNDS AT 31 MARCH 2023 194,497 535	2024 £ 11,182 1,983 687,776 3,000 705,208 1,854 654,204 656,058 49,150 - 49,150 533 49,683 145,339 49,683 195,022		2023 £ 4,214 99 574,073 - 578,386 - 588,979 588,979 (10,593) - (10,593) - (10,593) 155,932 (10,593) 145,339

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2024

FIXED ASSETS Tangible assets Investments Current assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Total net assets Charity funds Restricted funds Unrestrictd funds Total funds	£ 73,234 88,427 161,661 (66,521)

Registered number: 04551116 Charity number: 1096735

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the company, its trustees and advisers	1
Chairman's statement	2
Trustees' report	3 - 9
Independent examiner's report	10
Statement of financial activities	11
Balance sheet	12
Statement of cash flows	13
Notes to the financial statements	14 - 30

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees	R D Whall, Chair
	N Pike, Chief Executive
	E Phillips, Vice Chair
	M P J James, Treasurer
	R W Hartburn
	J M James
	S French
	A J Statham
Company registered number 04551116 Charity registered number 1096735 Registered office 183 Boughton Industrial Estate Boughton Newark Nottinghamshire NG22 9LD Company secretary L Pike Chief executive officer N Pike Accountant Jonathan Wilson Chartered Accountant Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR Bankers Lloyds Bank PLC 1-3 Church Street Mansfield Nottinghamshire NG18 1AF

Page 1

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

The chairman presents his statement for the year.

Before I recount on a very successful year at ROB, I would like to start my annual report by recognising the recent sad loss of our friend, trustee, father, father- in-law and former ROB employee, Richard Hartburn. Richard was a great servant of ROB over many years. He was always the first Trustee to respond to any email request, but only added his considered contribution to any board discussion after carefully listening to others. Richard will be sadly missed by us all.

A strong financial performance of any charity is an essential element for the long term health of the organisation and the last year was one of our most financially successful for many years with a £50k surplus. The last eight years have thrown every conceivable challenge our way resulting in volatile financial results. Four years of losses and four years of surplus have shown an eight year £ 5k average surplus and demonstrated why it is essential for good charities to have a significant reserve to survive and flourish.

ROB has a successful strategy of incremental growth which was challenged by bizarre circumstances with Newark and Sherwood’s debatable plan to offer a competitive glass collection service on the fifth of the district already served by ROB. The backlash to this unnecessary duplicate service resulted in almost a thousand new household customers requesting to be served by ROB instead of N&S. Fortunately this increase in customers has been matched by a 11% increase in student days with additional trucks to service the demand. Therefore, ROB has currently benefited in above normal growth in the last year, however, wise leadership will be needed to ensure this gain is built upon and not eroded in the years ahead. There is an inevitable bottleneck in ROBs growth which is currently evidenced in canteen space which will be a key project to enlarge in the year ahead.

ROB’s lease position has been uncertain for a number of years which has now been resolved since the year end with a signed three-year lease. The long term beyond the new lease should also include exploring other locations to give more space and control. This work needs to be concurrent with the lease as any possible move will take years of planning.

After a period of high inflation and the cost of living challenge the board was proud to maintain its adherence to the Living Wage Foundation and give an above inflation wage rise to all staff. This has only been possible due to the strong organisation performance and affordability.

ROB goes into its 25[th] year in its strongest ever position with ongoing governance improvements for the longterm health of ROB. There is a growing need to provide the service for our students and increasing recycling demand to keep them in worthwhile work. I give thanks to the trustees and staff for their support and have the confidence that the charity is well run and prospering in a very difficult climate. However, I am equally sure that we must never show signs of complacency as the challenges ahead will be significant.

Chairman - R D Whall Date: 18 September 2024

Page 2

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report together with the financial statements of the company for the year 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Volunteers

ROB recognises that volunteer workers make a very significant contribution to the work and service objectives of the project.

b. Main activities undertaken to further the company's purposes for the public benefit

In its charitable activities and objectives, the charity is focused on benefiting those who are with Learning Difficulties.

The project currently has 117.5 referral days for people with Learning Difficulties being attended each week, an increase of 11% days per week on the previous year.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing ROB’s (Recycling Ollerton and Boughton) aims and objectives and in planning future activities.

Here are some of the ways we meet the requirement of public benefit:

Volunteering:

ROB has paid members of staff who are greatly aided by a group of volunteers. The charity enables people to grow in life skills and provides a stepping off point into the world of work.

Social events:

We had some celebrations at Christmas including our annual Christmas party with everybody in attendance as well as a very well supported trip to watch the pantomime at Newark Theatre.

Training:

Participating in training encourages staff and students to develop their skills and to continue to exercise their competence, to enjoy respect and esteem, and to maintain or establish supportive and caring relationships.

Recycling:

10,500 households have the option to take up our free, fortnightly, glass collection and recycling service. We also offer a cost effective cardboard and paper recycling solution to almost 100 businesses.

Page 3

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

Activities undertaken to achieve those objectives

After a few years that were severely influenced by a global pandemic and an energy/inflation crisis, 23-24 could be reflected upon as predictable. Nothing surprised us and the main worry we had to deal with was higher than expected growth.

Our student attendance grew by 11% to 117½ days per week, with 2 new students coming aboard as well as increased attendance to a couple of our established students. This is an increase slightly above expectations but has been controlled and fits with our Vision of ‘enriching the lives of more people with Learning Disabilities’

The above expected level of growth we have seen in the past few years have given rise to the problem of a bottleneck in the space available in our canteen. We have submitted several funding bids to enable us to extend our canteen and have been successful in one to the tune of about a third of the funds needed. A second grant application has been stalled by the need to complete the Lease situation with our landlords. Moving forward, it is critical that both the Lease and the Canteen are completed at the soonest possible point to ensure that we can continue to give meaningful opportunities to anybody suitable who chooses to attend our service.

The additional growth of the service has seen us not only continue to update our fleet of vehicles but also choose to increase the size of the fleet to 6 trucks. Unfortunately, given the nature of our charity, we aren’t very gentle with our fleet and often find them in need of repair. To ensure that these repairs don’t hinder the services we deliver, it is a must to have a spare vehicle at all times.

Further progress was made by Newark and Sherwood District Council with their intended Kerbside Glass Collection Scheme. They gave information of plans to be in operation from April 2024 and were met by great consternation from ROB’s loyal subscribers. Following the success of our leaflet drops and heightened social media activity, we delivered a record number of recycling boxes to households in our areas and secured the funding for these boxes from the District Council. The biggest certainty we can take from the situation is that we do have the backing of the communities we serve and although the NSDC service is a threat, we’ve confidently confronted it and have for the time being, more than maintained our position. What we now have to do is to ensure that we don’t become complacent as our glass collection customers now have another option.

3 years-in from the beginning of the Covid and we appear to still be suffering the effects. In June 23, as we were aware that our own restrictions were far more stringent than anywhere else, we relaxed our Covid protocols and ceased any non-symptomatic testing of both staff and students. Unfortunately, Covid wasn’t finished with us, and in the run-up to Christmas it devastated our personnel causing us to close to students a week earlier than expected and to postpone the Christmas Dinner until February. Fortunately, though we had 11 cases of Covid in the organisation in a 2-week period, costing us 41 working days, nobody was seriously ill.

Throughout the year, a great deal of time was taken to support 2 of our students with Cancer diagnosis’. Happily, at the time of writing this report, they have both had positive outcomes, but what the experience has shown is that without organisations such as our own, there would be a huge hole in the support of vulnerable people when they most need that support.

Further to our aim of being the best that we can possibly be, we have bolstered the training of our staff in several different ways. All our staff are now registered with Careshield, an online training platform which ensures that their knowledge and skills are polished and reinforced. Many of the 26 courses on the platform are renewed at regular intervals in order to act as reminders of ‘best practice’. On top of this we now have a trained Mental First Aider, an additional trained forklift truck driver, our Business Assistant has successfully completed her apprenticeship and we are in a position to train our own staff in crisis prevention.

In conclusion, what the year has shown is that without exceptional obstacles, our business model is strong. It has the ability to create substantial surplus if unhindered, and is strong enough to survive in the toughest times.

Page 4

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

Achievements and performance

a. Review of activities

How the company achieves its objectives is detailed below.

The charity continues to fulfil its charitable objectives of relieving adults with learning difficulties by:

• Offering suitable work placements

• Providing appropriate training

• Ensuring a safe and healthy environment

• Taking on new students, supporting them through their induction and their transition from home to ROB and from childhood to adulthood.

• Constantly supporting students by various means; listening, having appropriate conversations, showing empathy and giving considered instructions

• By liaising with students’ families and carers

• Expanding business waste recycling services

b. Fundraising activities and income generation

The charity does not raise funds directly from the public.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees aim to maintain free reserves in unrestricted funds at a level equating to approximately six months' unrestricted charitable expenditure. The Trustees consider this level to be prudent and sufficient to meet the needs of the Charity as they arise. The Trustees are happy with the progress that has been made in achieving this and plan to continue at a similar pace for the foreseeable future. The reserve account held £54K at the year end, with the current account holding £14K. Although we operate 2 accounts, the reserve account offers no additional Interest Rate benefits over the current account. The Trustees decided to switch £20K of the reserve into a higher interest account with Kingdom Bank.

Page 5

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

c. Material investments policy

The Finance Committee is responsible for advising the Board of Trustees on the best way of investing any surplus cash and maximising the investments' effectiveness.

ROB have adopted a medium to long term approach to their investments and this is reflected in the vestments made.

Investments are only made with surplus cash and a prudent mindset which is not putting the effective operation of the Charity into jeopardy.

Investments are made in a broad spectrum of providers including higher than average savings accounts and stocks and shares.

Any investment considered is done with consideration to several factors including:

• interest rates

• accessibility

• charges

• risk appetite

• ethical policy on the investments

Any investment is made only with the approval of the Finance Committee.

In all investments, dividends are added to the investment and reviewed annually by the Finance Committee.

The Finance Committee always ensures that investments are made within the legal framework of the Charity Commission.

Before any investments are made, the Finance Committee advises the Board of Trustees of their intents.

d. Principal risks and uncertainties

All risks are identified and mitigated on our ‘Risk Register’ which is reviewed 6 monthly. Principle risks are: ‘exceptional increases to inflation cause business model to falter’, mitigated by increasing charges to businesses and to Nottinghamshire County Council and ‘Recognising the heavy reliance on one or two income streams’, this is mitigated by ensuring that we are delivering the quality and type of service that is wanted by both the Service Users and by the County Council by regularly seeking their feedback and continue to develop a robust 'pipeline' of avenues from where ROB can be accessed.

e. Funds

The net surplus was £49,683 for the year, compared to a net deficit of £10,593 last year. The total net assets were £195K.

Total income was £705,208 of that £538K was from Day Opportunities Provision/Transport.

Total expenses were £656,058, of that 459K was wages.

Page 6

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

a. Constitution

Recycling Ollerton and Boughton is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 19 February 2003. The Articles of Association were amnded by special resolution on 21 September 2016.

The company is constituted under a memorandum of association dated 19 February 2003 and is a registered charity number 1096735.

b. Methods of appointment or election of trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.

The articles of association provides for a minimum of 4 and a maximum of 12 trustees, who are the management committee members. Where there is requirement for trustees, these would be identified and supported by the remaining trustees.

c. Organisational structure and decision-making policies

The governing body of the company is the board of trustees.

Meetings:

The Trustees met 6 times during the year with all meetings Chaired by Richard Whall. All meetings were held in person and minutes were taken by Lynn Pike, the Company Secretary until after the July meeting when Janine Fletcher took over the minute taking.

Richard Whall, the Chair holds monthly meetings with the CEO Neil Pike where strategy and pressing matters are discussed.

The CEO holds daily Management meetings with Senior Staff and brings regular reports to the Board accordingly.

The Trustees continue the undertaking to ensure that one of them attends the Monthly Staff Meetings held by CEO, Neil Pike.

Membership:

Over the year, the make-up of the Board has remained constant.

d. Policies adopted for the induction and training of trustees

The chair of trustees is responsible for the induction of any new trustees. This involves awareness of trustee responsibilities, the governing document, administrative procedures, the history and philosophical approach of the organisation. A new trustee would receive a copy of the previous year's financial statements together with a copy of the Charity Commission leaflet 'The Essential Trustee: What You Need to Know'.

Page 7

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

e. Pay policy for key management personnel

Management Team

The CEO will make proposals to the Chair of the Board of Trustees for each individual manager with consideration of all the forementioned and the following: These will need to be agreed on by the Board of Trustees.

• Individual performance

• Market value

CEO

The CEO and Chair of the Board of Trustees will have a conversation as part of the CEO Appraisal process. The Chair of Trustees will make a proposal to the CEO and agreement will be reached prior to the presentation to the Board of Trustees for approval. The conversation and offer will be in consideration of all of the above and the following:

• Overall company performance

• Adherence to Mission and Vision

• Alignment to ACEVO guidance re; market value.

• Performance against previous years objectives as set out in appraisal.

f. Related party relationships

The charity has no relationships with other parties.

g. Risk management

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The company has adopted the policies of internal controls recommended in the Charity Commission's booklet CCS "Internal Financial Controls for Charities" wherever possible, and has addressed the potential risks outlined therein.

h. Trustees' indemnities

The Trustees are covered by a Management Liability Policy provided by AXA. This Policy has £5,000,000 Trustees' Liability cover and £5,000,000 Charities Liability cover.

Page 8

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

Plans for future periods

The charity’s future plans are covered in a 5 Year Business Plan which was written in 2021 and is due to be reviewed in 2024.

Approved by order of the members of the board of trustees on 18 September 2024 and signed on their behalf by:

R D Whall

(Chair of Trustees)

Page 9

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the trustees of Recycling Ollerton and Boughton ('the company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns 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 accounts to be reached.

This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.

Signed: Jonathan Wilson FCA CTA Dated: 14 October 2024

Jonathan Wilson ICAEW

Chartered Accountant

Page 10

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Other income 7 Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net income/(expenditure) Transfers between funds 18 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Gains on revaluation of fixed assets 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2024 £ 10,432 687,776 1,267 1,983 3,000 704,458 1,854 653,694 655,548 48,910 750 49,660 533 50,193 144,304 50,193 194,497	Restricted funds 2024 £ 750 - - - - 750 - 510 510 240 (750) (510) - (510) 1,035 (510) 525	Total funds 2024 £ 11,182 687,776 1,267 1,983 3,000 705,208 1,854 654,204 656,058 49,150 - 49,150 533 49,683 145,339 49,683 195,022	Total funds 2023 £ 4,214 574,073 - 99 - 578,386 - 588,979 588,979 (10,593) - (10,593) - (10,593) 155,932 (10,593) 145,339

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 30 form part of these financial statements.

Page 11

(a company limited by guarantee) REGISTERED NUMBER: 04551116

RECYCLING OLLERTON AND BOUGHTON

BALANCE SHEET AS AT 31 MARCH 2024

Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total net assets Charity funds Restricted funds 18 Unrestricted funds 18 Total funds	73,234 88,427 161,661 (66,521)	2024 £ 68,119 31,763 99,882 95,140 195,022 525 194,497 195,022	41,230 101,896 143,126 (53,543)	2023 £ 55,756 -
				55,756 89,583
				145,339
				1,035 144,304
				145,339

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees on 18 September 2024 and signed on their behalf by:

R D Whall

(Chair of Trustees)

The notes on pages 14 to 30 form part of these financial statements.

Page 12

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Purchase of investments Gain on investments Net cash used in investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ 46,345 1,983 3,000 (34,100) (31,230) 533 (59,814) - (13,469) 101,896 88,427	2023 £ 37,824 99 - (16,873) - - (16,774) - 21,050 80,846 101,896

The notes on pages 14 to 30 form part of these financial statements

Page 13

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Recycling Ollerton and Boughton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

At the date of signing there are no concerns regarding the sustainability of the charity. The trustees continue to monitor the position and see no reason to suggest that the company cannot continue at its current level of activity subject to continued support from Nottinghamshire County Council and the bank and they therefore continue to adopt the going concern basis.

1.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Page 14

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.4 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Self-contained buildings	- 10% straight line
Plant and machinery	- 1/3 straight line
Motor vehicles	- 20% straight line
Fixtures and fittings	- 1/3 straight line

1.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 15

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.11 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Operating leases

Rentals paid under operating leases are charged to the statement of financial activities on a straightline basis over the lease term.

1.13 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 16

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. General information

Recycling Ollerton and Boughton is a company limited by guarantee, registered in England and Wales, registration number 0455116 and a charitable company registered with The Charity Commission, registration number 1096735.

3. Income from donations and legacies

Unrestricted funds 2024 £ Donations Kerbside boxes 9,491 Scott Carlton - Donations 941 10,432 Total 2023 535	Restricted funds 2024 £ - 750 - 750 3,679	Total funds 2024 £ 9,491 750 941 11,182 4,214	Total funds 2023 £ - - 4,214
			4,214

4. Income from charitable activities

Unrestricted funds 2024 £ Sales of goods or services as a charitable company 109,421 Recycling credits 28,507 Service provision 538,105 Student funds 3,254 Van hire 500 NCC Care Services Sustainability Fund 7,989 687,776 Total 2023 574,073	Total funds 2024 £ 109,421 28,507 538,105 3,254 500 7,989 687,776 574,073	Total funds 2023 £ 70,477 30,816 457,148 2,170 280 13,182
		574,073

Page 17

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Income from other trading activities

Income from fundraising events

	Unrestricted	Total	Total
	funds	funds	funds
	2024	2024	2023
	£	£	£
Merchandise income	1,267	1,267	-

6. Investment income

Unrestricted funds 2024 £ Income from local listed investments 1,230 Bank interest receivable 753 1,983 Total 2023 99 Other incoming resources Unrestricted funds 2024 £ Sale of fixed assets 3,000	Total funds 2024 £ 1,230 753 1,983 99 Total funds 2024 £ 3,000	Total funds 2023 £ - 99
		99
		Total funds 2023 £ -

7. Other incoming resources

Page 18

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Expenditure on raising funds

Fundraising trading expenses

Unrestricted funds 2024 £ Merchandise expenses 1,815 Fundraising expenses 39 1,854	Total funds 2024 £ 1,815 39 1,854	Total funds 2023 £ - -
		-

Page 19

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of charitable expenditure

Total expenses Total 2023	Activities undertaken directly 2024 £ 627,269 567,486	Support costs 2024 £ 26,935 21,493	Total funds 2024 £ 654,204 588,979	Total funds 2023 £ 588,979

Analysis of direct costs

Staff costs Depreciation Costs of goods as a charitable company Activities and trips Catering costs Rent, rates and water Light and heat Repairs and maintenance Vehicle and forklift costs Training and welfare Donations to charities Sundry expenses	Total funds 2024 £ 458,737 21,737 18,244 3,815 8,001 24,381 14,989 13,382 58,790 4,247 - 946 627,269	Total funds 2023 £ 415,343 23,475 10,641 3,015 7,399 29,797 9,900 4,567 57,711 3,029 1,884 725
		567,486

Page 20

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of charitable expenditure (continued)

Analysis of support costs

Insurance Telephone, postage, stationery and printing Information and publications Bank charges and interest Sundry expenses Legal fees Independent examiner's fees 10. Independent examiner's remuneration Fees payable to the company's independent examiner for the independent examination of the company's annual accounts 11. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes	Total funds 2024 £ 12,346 7,068 2,796 509 184 2,352 1,680 26,935 2024 £ 1,680 2024 £ 421,807 28,470 8,460 458,737	Total funds 2023 £ 11,141 5,472 2,562 530 108 - 1,680
		21,493
		2023 £ 1,680
		2023 £ 381,631 26,138 7,574
		415,343

The average number of persons employed by the company during the year was as follows:

	2024	2023
	No.	No.
Charitable activities	22	18

Page 21

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

During the year 1 trustee received remuneration (2023 - 1 trustee).

Further details are given in note 10. The legal authority for this remuneration is given in point 4.2(h)(ii) of the articles of association as amended on 21 September 2016.

Remuneration was also paid to other family members of one trustee. This amounted to gross pay of £32,489 (2023 - £28,870), employer's national insurance of £3,023 (2023 - £2,822) and pension contributions of £743 (2023 - £672).

Senior management are N Pike, L Pike P Sheppard and T Eyre. The gross remuneration of senior management was £134,648 (2023 - £149,596), employer's national insurance was £13,557 (2023 - £13,991) and pension contributions were £3,286 (2023 - £3,188).

12. Trustees' remuneration and expenses

During the year, one or more trustees has been paid remuneration or has received other benefits from an employment with the company. The value of trustees' remuneration and other benefits was as follows:

		2024	2023
		£	£
N Pike	Remuneration	50,442	51,893
	Pension contributions paid	1,321	1,340

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL).

Page 22

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. Tangible fixed assets

Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year On disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	Freehold property £ 94,910 - - 94,910 69,888 9,064 - 78,952 15,958 25,022	Plant and machinery £ 79,847 4,046 - 83,893 79,732 561 - 80,293 3,600 115	Motor vehicles £ 93,557 28,384 (27,284) 94,657 67,801 9,333 (27,284) 49,850 44,807 25,756	Fixtures and fittings £ 62,904 1,670 - 64,574 58,041 2,779 - 60,820 3,754 4,863	Total £ 331,218 34,100 (27,284)
					338,034
					275,462 21,737 (27,284)
					269,915
					68,119
					55,756

14. Fixed asset investments

Cost or valuation Additions Revaluations At 31 March 2024 Net book value At 31 March 2024	Listed investments £ 31,230 533
	31,763
	31,763

Page 23

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Debtors

Due within one year Trade debtors Prepayments and accrued income	2024 £ 13,923 59,311 73,234	2023 £ 11,448 29,782
		41,230

16. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Other creditors Accruals and deferred income	2024 £ 10,674 12,350 1,158 42,339 66,521	2023 £ 4,810 11,925 980 35,828
		53,543

Deferred income relates to income received prior to the year-end that relates to a period after the yearend.

Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous periods	2024 £ 797 780 (797) 780	2023 £ 9,228 797 (9,228)
		797

Page 24

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Financial instruments

Financial assets Financial assets measured at fair value through income and expenditure Financial liabilities Other financial liabilities measured at fair value through income and expenditure	2024 £ 159,504 2024 £ 52,233	2023 £ 141,254
		2023 £ 39,841

Financial assets measured at fair value through income and expenditure comprise bank balances, accrued income and trade debtors.

Other financial liabilities measured at fair value through income and expenditure comprise trade creditors and accruals.

Page 25

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Student funds General funds General Fund Total Unrestricted funds Restricted funds Defibrillator Fund Scott Carlton Fund Total of funds	Balance at 1 April 2023 £ 409 143,895 144,304 1,035 - 1,035 145,339	Income £ 5,773 698,685 704,458 - 750 750 705,208	Expenditure £ (4,015) (651,533) (655,548) (510) - (510) (656,058)	Transfers in/out £ - 750 750 - (750) (750) -	Gains/ (Losses) £ - 533 533 - - - 533	Balance at 31 March 2024 £ 2,167
						192,330
						194,497
						525 -
						525
						195,022

Page 26

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Student funds General funds General Fund Total Unrestricted funds Restricted funds Defibrillator Fund Scott Carlton Fund Total of funds	Balance at 1 April 2022 £ 718 155,214 155,932 - - - 155,932	Income £ 2,632 572,075 574,707 3,429 250 3,679 578,386	Expenditure £ (2,941) (583,644) (586,585) (2,394) - (2,394) (588,979)	Transfers in/out £ - 250 250 - (250) (250) -	Balance at 31 March 2023 £ 409
					143,895
					144,304
					1,035 -
					1,035
					145,339

Page 27

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds 2024 £ Tangible fixed assets 67,594 Fixed asset investments 31,763 Current assets 161,661 Creditors due within one year (66,521) Total 194,497	Restricted funds 2024 £ 525 - - - 525	Total funds 2024 £ 68,119 31,763 161,661 (66,521) 195,022

Analysis of net assets between funds - prior period

Tangible fixed assets Current assets Creditors due within one year Total	Unrestricted funds 2023 £ 54,721 143,126 (53,543) 144,304	Restricted funds 2023 £ 1,035 - - 1,035	Total funds 2023 £ 55,756 143,126 (53,543) 145,339

Page 28

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement Activities) Adjustments for: Depreciation charges Gains on investments Dividends, interests and rents from investments (Profit) on the sale of fixed assets (Increase)/decrease in debtors Increase in creditors Net cash provided by operating activities 21. Analysis of cash and cash equivalents Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents 22. Analysis of changes in net debt Cash at bank and in hand	of Financial At 1 April 2023 £ 101,896 101,896	2024 £ 49,150 21,737 (533) (1,983) (3,000) (32,004) 12,978 46,345 2024 £ 54,002 34,425 88,427 Cash flows £ (13,469) (13,469)	2023 £ (10,593) 23,475 - (99) - 6,855 18,186 37,824 2023 £ 43,724 58,172 101,896 At 31 March 2024 £ 88,427 88,427

Page 29

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,460 (2023 - 7,574). Contributions totalling £939 (2023 - £763) were payable to the fund at the balance sheet date and are included in creditors.

24. Operating lease commitments

At 31 March 2024 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	2024 £ 6,025 19,779 7,408 33,212	2023 £ 1,426 2,019 -
		3,445

Total lease payments in the year amounted to £30,187 (2023 - £30,194).

25. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

26. Related party transactions

There are no further related party transactions to disclose, other than the disclosure in respect of trustees' remuneration as detailed in note 12.

Page 30

Registered number: 04551116 Charity number: 1096735

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the company, its trustees and advisers	1
Chairman's statement	2
Trustees' report	3 - 9
Independent examiner's report	10
Statement of financial activities	11
Balance sheet	12
Statement of cash flows	13
Notes to the financial statements	14 - 30

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees	R D Whall, Chair
	N Pike, Chief Executive
	E Phillips, Vice Chair
	M P J James, Treasurer
	R W Hartburn
	J M James
	S French
	A J Statham
Company registered number 04551116 Charity registered number 1096735 Registered office 183 Boughton Industrial Estate Boughton Newark Nottinghamshire NG22 9LD Company secretary L Pike Chief executive officer N Pike Accountant Jonathan Wilson Chartered Accountant Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR Bankers Lloyds Bank PLC 1-3 Church Street Mansfield Nottinghamshire NG18 1AF

Page 1

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

The chairman presents his statement for the year.

Before I recount on a very successful year at ROB, I would like to start my annual report by recognising the recent sad loss of our friend, trustee, father, father- in-law and former ROB employee, Richard Hartburn. Richard was a great servant of ROB over many years. He was always the first Trustee to respond to any email request, but only added his considered contribution to any board discussion after carefully listening to others. Richard will be sadly missed by us all.

A strong financial performance of any charity is an essential element for the long term health of the organisation and the last year was one of our most financially successful for many years with a £50k surplus. The last eight years have thrown every conceivable challenge our way resulting in volatile financial results. Four years of losses and four years of surplus have shown an eight year £ 5k average surplus and demonstrated why it is essential for good charities to have a significant reserve to survive and flourish.

ROB has a successful strategy of incremental growth which was challenged by bizarre circumstances with Newark and Sherwood’s debatable plan to offer a competitive glass collection service on the fifth of the district already served by ROB. The backlash to this unnecessary duplicate service resulted in almost a thousand new household customers requesting to be served by ROB instead of N&S. Fortunately this increase in customers has been matched by a 11% increase in student days with additional trucks to service the demand. Therefore, ROB has currently benefited in above normal growth in the last year, however, wise leadership will be needed to ensure this gain is built upon and not eroded in the years ahead. There is an inevitable bottleneck in ROBs growth which is currently evidenced in canteen space which will be a key project to enlarge in the year ahead.

ROB’s lease position has been uncertain for a number of years which has now been resolved since the year end with a signed three-year lease. The long term beyond the new lease should also include exploring other locations to give more space and control. This work needs to be concurrent with the lease as any possible move will take years of planning.

After a period of high inflation and the cost of living challenge the board was proud to maintain its adherence to the Living Wage Foundation and give an above inflation wage rise to all staff. This has only been possible due to the strong organisation performance and affordability.

ROB goes into its 25[th] year in its strongest ever position with ongoing governance improvements for the longterm health of ROB. There is a growing need to provide the service for our students and increasing recycling demand to keep them in worthwhile work. I give thanks to the trustees and staff for their support and have the confidence that the charity is well run and prospering in a very difficult climate. However, I am equally sure that we must never show signs of complacency as the challenges ahead will be significant.

Chairman - R D Whall Date: 18 September 2024

Page 2

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report together with the financial statements of the company for the year 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Volunteers

ROB recognises that volunteer workers make a very significant contribution to the work and service objectives of the project.

b. Main activities undertaken to further the company's purposes for the public benefit

In its charitable activities and objectives, the charity is focused on benefiting those who are with Learning Difficulties.

The project currently has 117.5 referral days for people with Learning Difficulties being attended each week, an increase of 11% days per week on the previous year.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing ROB’s (Recycling Ollerton and Boughton) aims and objectives and in planning future activities.

Here are some of the ways we meet the requirement of public benefit:

Volunteering:

ROB has paid members of staff who are greatly aided by a group of volunteers. The charity enables people to grow in life skills and provides a stepping off point into the world of work.

Social events:

We had some celebrations at Christmas including our annual Christmas party with everybody in attendance as well as a very well supported trip to watch the pantomime at Newark Theatre.

Training:

Participating in training encourages staff and students to develop their skills and to continue to exercise their competence, to enjoy respect and esteem, and to maintain or establish supportive and caring relationships.

Recycling:

10,500 households have the option to take up our free, fortnightly, glass collection and recycling service. We also offer a cost effective cardboard and paper recycling solution to almost 100 businesses.

Page 3

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

Activities undertaken to achieve those objectives

After a few years that were severely influenced by a global pandemic and an energy/inflation crisis, 23-24 could be reflected upon as predictable. Nothing surprised us and the main worry we had to deal with was higher than expected growth.

Our student attendance grew by 11% to 117½ days per week, with 2 new students coming aboard as well as increased attendance to a couple of our established students. This is an increase slightly above expectations but has been controlled and fits with our Vision of ‘enriching the lives of more people with Learning Disabilities’

The above expected level of growth we have seen in the past few years have given rise to the problem of a bottleneck in the space available in our canteen. We have submitted several funding bids to enable us to extend our canteen and have been successful in one to the tune of about a third of the funds needed. A second grant application has been stalled by the need to complete the Lease situation with our landlords. Moving forward, it is critical that both the Lease and the Canteen are completed at the soonest possible point to ensure that we can continue to give meaningful opportunities to anybody suitable who chooses to attend our service.

The additional growth of the service has seen us not only continue to update our fleet of vehicles but also choose to increase the size of the fleet to 6 trucks. Unfortunately, given the nature of our charity, we aren’t very gentle with our fleet and often find them in need of repair. To ensure that these repairs don’t hinder the services we deliver, it is a must to have a spare vehicle at all times.

Further progress was made by Newark and Sherwood District Council with their intended Kerbside Glass Collection Scheme. They gave information of plans to be in operation from April 2024 and were met by great consternation from ROB’s loyal subscribers. Following the success of our leaflet drops and heightened social media activity, we delivered a record number of recycling boxes to households in our areas and secured the funding for these boxes from the District Council. The biggest certainty we can take from the situation is that we do have the backing of the communities we serve and although the NSDC service is a threat, we’ve confidently confronted it and have for the time being, more than maintained our position. What we now have to do is to ensure that we don’t become complacent as our glass collection customers now have another option.

3 years-in from the beginning of the Covid and we appear to still be suffering the effects. In June 23, as we were aware that our own restrictions were far more stringent than anywhere else, we relaxed our Covid protocols and ceased any non-symptomatic testing of both staff and students. Unfortunately, Covid wasn’t finished with us, and in the run-up to Christmas it devastated our personnel causing us to close to students a week earlier than expected and to postpone the Christmas Dinner until February. Fortunately, though we had 11 cases of Covid in the organisation in a 2-week period, costing us 41 working days, nobody was seriously ill.

Throughout the year, a great deal of time was taken to support 2 of our students with Cancer diagnosis’. Happily, at the time of writing this report, they have both had positive outcomes, but what the experience has shown is that without organisations such as our own, there would be a huge hole in the support of vulnerable people when they most need that support.

Further to our aim of being the best that we can possibly be, we have bolstered the training of our staff in several different ways. All our staff are now registered with Careshield, an online training platform which ensures that their knowledge and skills are polished and reinforced. Many of the 26 courses on the platform are renewed at regular intervals in order to act as reminders of ‘best practice’. On top of this we now have a trained Mental First Aider, an additional trained forklift truck driver, our Business Assistant has successfully completed her apprenticeship and we are in a position to train our own staff in crisis prevention.

In conclusion, what the year has shown is that without exceptional obstacles, our business model is strong. It has the ability to create substantial surplus if unhindered, and is strong enough to survive in the toughest times.

Page 4

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

Achievements and performance

a. Review of activities

How the company achieves its objectives is detailed below.

The charity continues to fulfil its charitable objectives of relieving adults with learning difficulties by:

• Offering suitable work placements

• Providing appropriate training

• Ensuring a safe and healthy environment

• Taking on new students, supporting them through their induction and their transition from home to ROB and from childhood to adulthood.

• Constantly supporting students by various means; listening, having appropriate conversations, showing empathy and giving considered instructions

• By liaising with students’ families and carers

• Expanding business waste recycling services

b. Fundraising activities and income generation

The charity does not raise funds directly from the public.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees aim to maintain free reserves in unrestricted funds at a level equating to approximately six months' unrestricted charitable expenditure. The Trustees consider this level to be prudent and sufficient to meet the needs of the Charity as they arise. The Trustees are happy with the progress that has been made in achieving this and plan to continue at a similar pace for the foreseeable future. The reserve account held £54K at the year end, with the current account holding £14K. Although we operate 2 accounts, the reserve account offers no additional Interest Rate benefits over the current account. The Trustees decided to switch £20K of the reserve into a higher interest account with Kingdom Bank.

Page 5

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

c. Material investments policy

The Finance Committee is responsible for advising the Board of Trustees on the best way of investing any surplus cash and maximising the investments' effectiveness.

ROB have adopted a medium to long term approach to their investments and this is reflected in the vestments made.

Investments are only made with surplus cash and a prudent mindset which is not putting the effective operation of the Charity into jeopardy.

Investments are made in a broad spectrum of providers including higher than average savings accounts and stocks and shares.

Any investment considered is done with consideration to several factors including:

• interest rates

• accessibility

• charges

• risk appetite

• ethical policy on the investments

Any investment is made only with the approval of the Finance Committee.

In all investments, dividends are added to the investment and reviewed annually by the Finance Committee.

The Finance Committee always ensures that investments are made within the legal framework of the Charity Commission.

Before any investments are made, the Finance Committee advises the Board of Trustees of their intents.

d. Principal risks and uncertainties

All risks are identified and mitigated on our ‘Risk Register’ which is reviewed 6 monthly. Principle risks are: ‘exceptional increases to inflation cause business model to falter’, mitigated by increasing charges to businesses and to Nottinghamshire County Council and ‘Recognising the heavy reliance on one or two income streams’, this is mitigated by ensuring that we are delivering the quality and type of service that is wanted by both the Service Users and by the County Council by regularly seeking their feedback and continue to develop a robust 'pipeline' of avenues from where ROB can be accessed.

e. Funds

The net surplus was £49,683 for the year, compared to a net deficit of £10,593 last year. The total net assets were £195K.

Total income was £705,208 of that £538K was from Day Opportunities Provision/Transport.

Total expenses were £656,058, of that 459K was wages.

Page 6

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

a. Constitution

Recycling Ollerton and Boughton is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 19 February 2003. The Articles of Association were amnded by special resolution on 21 September 2016.

The company is constituted under a memorandum of association dated 19 February 2003 and is a registered charity number 1096735.

b. Methods of appointment or election of trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.

The articles of association provides for a minimum of 4 and a maximum of 12 trustees, who are the management committee members. Where there is requirement for trustees, these would be identified and supported by the remaining trustees.

c. Organisational structure and decision-making policies

The governing body of the company is the board of trustees.

Meetings:

The Trustees met 6 times during the year with all meetings Chaired by Richard Whall. All meetings were held in person and minutes were taken by Lynn Pike, the Company Secretary until after the July meeting when Janine Fletcher took over the minute taking.

Richard Whall, the Chair holds monthly meetings with the CEO Neil Pike where strategy and pressing matters are discussed.

The CEO holds daily Management meetings with Senior Staff and brings regular reports to the Board accordingly.

The Trustees continue the undertaking to ensure that one of them attends the Monthly Staff Meetings held by CEO, Neil Pike.

Membership:

Over the year, the make-up of the Board has remained constant.

d. Policies adopted for the induction and training of trustees

The chair of trustees is responsible for the induction of any new trustees. This involves awareness of trustee responsibilities, the governing document, administrative procedures, the history and philosophical approach of the organisation. A new trustee would receive a copy of the previous year's financial statements together with a copy of the Charity Commission leaflet 'The Essential Trustee: What You Need to Know'.

Page 7

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

e. Pay policy for key management personnel

Management Team

The CEO will make proposals to the Chair of the Board of Trustees for each individual manager with consideration of all the forementioned and the following: These will need to be agreed on by the Board of Trustees.

• Individual performance

• Market value

CEO

The CEO and Chair of the Board of Trustees will have a conversation as part of the CEO Appraisal process. The Chair of Trustees will make a proposal to the CEO and agreement will be reached prior to the presentation to the Board of Trustees for approval. The conversation and offer will be in consideration of all of the above and the following:

• Overall company performance

• Adherence to Mission and Vision

• Alignment to ACEVO guidance re; market value.

• Performance against previous years objectives as set out in appraisal.

f. Related party relationships

The charity has no relationships with other parties.

g. Risk management

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The company has adopted the policies of internal controls recommended in the Charity Commission's booklet CCS "Internal Financial Controls for Charities" wherever possible, and has addressed the potential risks outlined therein.

h. Trustees' indemnities

The Trustees are covered by a Management Liability Policy provided by AXA. This Policy has £5,000,000 Trustees' Liability cover and £5,000,000 Charities Liability cover.

Page 8

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

Plans for future periods

The charity’s future plans are covered in a 5 Year Business Plan which was written in 2021 and is due to be reviewed in 2024.

Approved by order of the members of the board of trustees on 18 September 2024 and signed on their behalf by:

R D Whall

(Chair of Trustees)

Page 9

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the trustees of Recycling Ollerton and Boughton ('the company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns 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 accounts to be reached.

This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.

Signed: Jonathan Wilson FCA CTA Dated: 14 October 2024

Jonathan Wilson ICAEW

Chartered Accountant

Page 10

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Other income 7 Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net income/(expenditure) Transfers between funds 18 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Gains on revaluation of fixed assets 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2024 £ 10,432 687,776 1,267 1,983 3,000 704,458 1,854 653,694 655,548 48,910 750 49,660 533 50,193 144,304 50,193 194,497	Restricted funds 2024 £ 750 - - - - 750 - 510 510 240 (750) (510) - (510) 1,035 (510) 525	Total funds 2024 £ 11,182 687,776 1,267 1,983 3,000 705,208 1,854 654,204 656,058 49,150 - 49,150 533 49,683 145,339 49,683 195,022	Total funds 2023 £ 4,214 574,073 - 99 - 578,386 - 588,979 588,979 (10,593) - (10,593) - (10,593) 155,932 (10,593) 145,339

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 30 form part of these financial statements.

Page 11

(a company limited by guarantee) REGISTERED NUMBER: 04551116

RECYCLING OLLERTON AND BOUGHTON

BALANCE SHEET AS AT 31 MARCH 2024

Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total net assets Charity funds Restricted funds 18 Unrestricted funds 18 Total funds	73,234 88,427 161,661 (66,521)	2024 £ 68,119 31,763 99,882 95,140 195,022 525 194,497 195,022	41,230 101,896 143,126 (53,543)	2023 £ 55,756 -
				55,756 89,583
				145,339
				1,035 144,304
				145,339

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees on 18 September 2024 and signed on their behalf by:

R D Whall

(Chair of Trustees)

The notes on pages 14 to 30 form part of these financial statements.

Page 12

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Purchase of investments Gain on investments Net cash used in investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ 46,345 1,983 3,000 (34,100) (31,230) 533 (59,814) - (13,469) 101,896 88,427	2023 £ 37,824 99 - (16,873) - - (16,774) - 21,050 80,846 101,896

The notes on pages 14 to 30 form part of these financial statements

Page 13

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Recycling Ollerton and Boughton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

At the date of signing there are no concerns regarding the sustainability of the charity. The trustees continue to monitor the position and see no reason to suggest that the company cannot continue at its current level of activity subject to continued support from Nottinghamshire County Council and the bank and they therefore continue to adopt the going concern basis.

1.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Page 14

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.4 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Self-contained buildings	- 10% straight line
Plant and machinery	- 1/3 straight line
Motor vehicles	- 20% straight line
Fixtures and fittings	- 1/3 straight line

1.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 15

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.11 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Operating leases

Rentals paid under operating leases are charged to the statement of financial activities on a straightline basis over the lease term.

1.13 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 16

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. General information

Recycling Ollerton and Boughton is a company limited by guarantee, registered in England and Wales, registration number 0455116 and a charitable company registered with The Charity Commission, registration number 1096735.

3. Income from donations and legacies

Unrestricted funds 2024 £ Donations Kerbside boxes 9,491 Scott Carlton - Donations 941 10,432 Total 2023 535	Restricted funds 2024 £ - 750 - 750 3,679	Total funds 2024 £ 9,491 750 941 11,182 4,214	Total funds 2023 £ - - 4,214
			4,214

4. Income from charitable activities

Unrestricted funds 2024 £ Sales of goods or services as a charitable company 109,421 Recycling credits 28,507 Service provision 538,105 Student funds 3,254 Van hire 500 NCC Care Services Sustainability Fund 7,989 687,776 Total 2023 574,073	Total funds 2024 £ 109,421 28,507 538,105 3,254 500 7,989 687,776 574,073	Total funds 2023 £ 70,477 30,816 457,148 2,170 280 13,182
		574,073

Page 17

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Income from other trading activities

Income from fundraising events

	Unrestricted	Total	Total
	funds	funds	funds
	2024	2024	2023
	£	£	£
Merchandise income	1,267	1,267	-

6. Investment income

Unrestricted funds 2024 £ Income from local listed investments 1,230 Bank interest receivable 753 1,983 Total 2023 99 Other incoming resources Unrestricted funds 2024 £ Sale of fixed assets 3,000	Total funds 2024 £ 1,230 753 1,983 99 Total funds 2024 £ 3,000	Total funds 2023 £ - 99
		99
		Total funds 2023 £ -

7. Other incoming resources

Page 18

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Expenditure on raising funds

Fundraising trading expenses

Unrestricted funds 2024 £ Merchandise expenses 1,815 Fundraising expenses 39 1,854	Total funds 2024 £ 1,815 39 1,854	Total funds 2023 £ - -
		-

Page 19

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of charitable expenditure

Total expenses Total 2023	Activities undertaken directly 2024 £ 627,269 567,486	Support costs 2024 £ 26,935 21,493	Total funds 2024 £ 654,204 588,979	Total funds 2023 £ 588,979

Analysis of direct costs

Staff costs Depreciation Costs of goods as a charitable company Activities and trips Catering costs Rent, rates and water Light and heat Repairs and maintenance Vehicle and forklift costs Training and welfare Donations to charities Sundry expenses	Total funds 2024 £ 458,737 21,737 18,244 3,815 8,001 24,381 14,989 13,382 58,790 4,247 - 946 627,269	Total funds 2023 £ 415,343 23,475 10,641 3,015 7,399 29,797 9,900 4,567 57,711 3,029 1,884 725
		567,486

Page 20

RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of charitable expenditure (continued)

Analysis of support costs

Insurance Telephone, postage, stationery and printing Information and publications Bank charges and interest Sundry expenses Legal fees Independent examiner's fees 10. Independent examiner's remuneration Fees payable to the company's independent examiner for the independent examination of the company's annual accounts 11. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes	Total funds 2024 £ 12,346 7,068 2,796 509 184 2,352 1,680 26,935 2024 £ 1,680 2024 £ 421,807 28,470 8,460 458,737	Total funds 2023 £ 11,141 5,472 2,562 530 108 - 1,680
		21,493
		2023 £ 1,680
		2023 £ 381,631 26,138 7,574
		415,343

The average number of persons employed by the company during the year was as follows:

	2024	2023
	No.	No.
Charitable activities	22	18

Page 21

RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

During the year 1 trustee received remuneration (2023 - 1 trustee).

Further details are given in note 10. The legal authority for this remuneration is given in point 4.2(h)(ii) of the articles of association as amended on 21 September 2016.

Remuneration was also paid to other family members of one trustee. This amounted to gross pay of £32,489 (2023 - £28,870), employer's national insurance of £3,023 (2023 - £2,822) and pension contributions of £743 (2023 - £672).

Senior management are N Pike, L Pike P Sheppard and T Eyre. The gross remuneration of senior management was £134,648 (2023 - £149,596), employer's national insurance was £13,557 (2023 - £13,991) and pension contributions were £3,286 (2023 - £3,188).

12. Trustees' remuneration and expenses

During the year, one or more trustees has been paid remuneration or has received other benefits from an employment with the company. The value of trustees' remuneration and other benefits was as follows:

		2024	2023
		£	£
N Pike	Remuneration	50,442	51,893
	Pension contributions paid	1,321	1,340

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL).

Page 22

(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. Tangible fixed assets

Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year On disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	Freehold property £ 94,910 - - 94,910 69,888 9,064 - 78,952 15,958 25,022	Plant and machinery £ 79,847 4,046 - 83,893 79,732 561 - 80,293 3,600 115	Motor vehicles £ 93,557 28,384 (27,284) 94,657 67,801 9,333 (27,284) 49,850 44,807 25,756	Fixtures and fittings £ 62,904 1,670 - 64,574 58,041 2,779 - 60,820 3,754 4,863	Total £ 331,218 34,100 (27,284)
					338,034
					275,462 21,737 (27,284)
					269,915
					68,119
					55,756

14. Fixed asset investments

Cost or valuation Additions Revaluations At 31 March 2024 Net book value At 31 March 2024	Listed investments £ 31,230 533
	31,763
	31,763

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(a company limited by guarantee)

RECYCLING OLLERTON AND BOUGHTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Debtors

Due within one year Trade debtors Prepayments and accrued income	2024 £ 13,923 59,311 73,234	2023 £ 11,448 29,782
		41,230

16. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Other creditors Accruals and deferred income	2024 £ 10,674 12,350 1,158 42,339 66,521	2023 £ 4,810 11,925 980 35,828
		53,543

Deferred income relates to income received prior to the year-end that relates to a period after the yearend.

Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous periods	2024 £ 797 780 (797) 780	2023 £ 9,228 797 (9,228)
		797

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RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Financial instruments

Financial assets Financial assets measured at fair value through income and expenditure Financial liabilities Other financial liabilities measured at fair value through income and expenditure	2024 £ 159,504 2024 £ 52,233	2023 £ 141,254
		2023 £ 39,841

Financial assets measured at fair value through income and expenditure comprise bank balances, accrued income and trade debtors.

Other financial liabilities measured at fair value through income and expenditure comprise trade creditors and accruals.

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RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Student funds General funds General Fund Total Unrestricted funds Restricted funds Defibrillator Fund Scott Carlton Fund Total of funds	Balance at 1 April 2023 £ 409 143,895 144,304 1,035 - 1,035 145,339	Income £ 5,773 698,685 704,458 - 750 750 705,208	Expenditure £ (4,015) (651,533) (655,548) (510) - (510) (656,058)	Transfers in/out £ - 750 750 - (750) (750) -	Gains/ (Losses) £ - 533 533 - - - 533	Balance at 31 March 2024 £ 2,167
						192,330
						194,497
						525 -
						525
						195,022

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RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Student funds General funds General Fund Total Unrestricted funds Restricted funds Defibrillator Fund Scott Carlton Fund Total of funds	Balance at 1 April 2022 £ 718 155,214 155,932 - - - 155,932	Income £ 2,632 572,075 574,707 3,429 250 3,679 578,386	Expenditure £ (2,941) (583,644) (586,585) (2,394) - (2,394) (588,979)	Transfers in/out £ - 250 250 - (250) (250) -	Balance at 31 March 2023 £ 409
					143,895
					144,304
					1,035 -
					1,035
					145,339

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RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds 2024 £ Tangible fixed assets 67,594 Fixed asset investments 31,763 Current assets 161,661 Creditors due within one year (66,521) Total 194,497	Restricted funds 2024 £ 525 - - - 525	Total funds 2024 £ 68,119 31,763 161,661 (66,521) 195,022

Analysis of net assets between funds - prior period

Tangible fixed assets Current assets Creditors due within one year Total	Unrestricted funds 2023 £ 54,721 143,126 (53,543) 144,304	Restricted funds 2023 £ 1,035 - - 1,035	Total funds 2023 £ 55,756 143,126 (53,543) 145,339

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RECYCLING OLLERTON AND BOUGHTON (a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement Activities) Adjustments for: Depreciation charges Gains on investments Dividends, interests and rents from investments (Profit) on the sale of fixed assets (Increase)/decrease in debtors Increase in creditors Net cash provided by operating activities 21. Analysis of cash and cash equivalents Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents 22. Analysis of changes in net debt Cash at bank and in hand	of Financial At 1 April 2023 £ 101,896 101,896	2024 £ 49,150 21,737 (533) (1,983) (3,000) (32,004) 12,978 46,345 2024 £ 54,002 34,425 88,427 Cash flows £ (13,469) (13,469)	2023 £ (10,593) 23,475 - (99) - 6,855 18,186 37,824 2023 £ 43,724 58,172 101,896 At 31 March 2024 £ 88,427 88,427

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RECYCLING OLLERTON AND BOUGHTON

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,460 (2023 - 7,574). Contributions totalling £939 (2023 - £763) were payable to the fund at the balance sheet date and are included in creditors.

24. Operating lease commitments

At 31 March 2024 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	2024 £ 6,025 19,779 7,408 33,212	2023 £ 1,426 2,019 -
		3,445

Total lease payments in the year amounted to £30,187 (2023 - £30,194).

25. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

26. Related party transactions

There are no further related party transactions to disclose, other than the disclosure in respect of trustees' remuneration as detailed in note 12.

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