**Company registration number: 04961486 Charity registration number: 1112617**
**Omega Community Living Limited**
**Trustees' report and financial statements**
**for the year ended 30 November 2020**
**Omega Community Living Limited**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees report|2-3|
|Independent examiners' report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Statement of Cash flows|7|
|Notes to the financial statements|8-12|
**Omega Community Living Limited**
## **Legal and administrative information**
|**Charity number**|1112617|
|---|---|
|**Company Number**|04961486|
|**Registered office**|19 Randolph Approach|
||Custom House|
||London|
||E16 3HU|
|**Trustees**|Ade Awosika|
||Yvonne Hines|
||Oliver Ukaegbu|
||Irene Legusen|
|**Accountants**|PPS Accountants|
||11 Farnes Court|
||Worksop|
||Nottinghamshire|
||S81 0LZ|
|**Bankers**|Barclays Bank PLC|
||Bank of Scotland|
Page 1
**Omega Community Living Limited**
## **Report of the trustees for the year ended 30 November 2020**
The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual reports and the financial statements of the charity for the year end 30 November 2020. The trustees have adopted the provisions of the 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 (FRS102).
## **Structure, governance and management**
Omega Community Living is a company limited by guarantee and a registered charity.
## **Objectives and activities**
To provide high quality accommodation, housing management and support vulnerable adults with Mental health and learning difficulties.
To promote greater independence for service users through practical assistance, emotional support, skills training and poverty reducing interventions;
To increase access to information and community services;
To Deliver a highly professional and flexible service that takes account of service- users' racial and cultural background and respect individual dignity and privacy.
Provide a package of care and support that is empowering to the service user and is responsive to their individual needs;
To promote social inclusion and participation and raise awareness of good mental health.
## **Achievements and performance**
Alongside the need to meet new demands, OCL has an operational business continuity plan to address any unpredictable changes to services. Therefore, OCL's business continuity plan provides us with a reference tool for actions required during or immediately following an emergency or incident that threatens to disrupt our usual business activities. OCL aims to make it's services as responsive to customer's needs and preferences. Ours services are structured to provide the maximum degree of continuity and the fewest possible disruptions to customer care and support needs. We have the infrastructure in place to accommodate future service demand, as well as customers changing requirements and preferences. We also aim to ensure that our services are customer-led.
We have introduced data management procedures which ensure storage and backup capabilities, detailing how our data is kept safe and secure. We have also adopted other computing storage systems to provide us with excellent defence against malicious cyber attacks and to support us with data recovery. OCLis covered by insurance for services such as professional indemnity insurance cover and financial loss in a disaster or emergency. Moreover, through networking and partnership,OCL has shared its experiences, knowledge and practices with other local organisations and statutory authorities. To this end, OCL has a network involving the voluntary and regulatory bodies, to provide our customers with a more holistic and joined-up service. This measure offers a range of opportunities for customers to reach their potentials to achieve their care and support aspirations.
## **Financial review**
The gross income of the charity was **£557,430** for the financial year with total expenses of **£546,821**
**Page 2**
## **Omega Community Living Limited**
## **Report of the trustees (incorporating the directors' report) for the year ended 30 November 2020**
## **Public Benefit**
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding activities undertaken by the charity. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirement.
## **Risk Assessment**
The trustees are fully aware of the major risks to which the charity is exposed and have taken steps to manage those risks.
## **Reserves Policy**
The trustees aim to hold a minimum of three months running costs in reserve at any point in time.
## **Small Company Provision**
**This report has been prepared in accordance with the special provisions for small companies S419(2) of** the Companies Act 2006.
On behalf of the board
................................... Mr Ade Awosika 30th September 2021
**Page 3**
## **Omega Community Living Limited**
## **Independent examiner's report to the trustees on the unaudited financial statements of Omega Community Living Limited**
I report on the accounts for the year ended 30 November 2020 set out on pages 1 to 12
## **Respective responsibilities of trustees and examiner**
As the trustees of the Company (who are also the directors of the company 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 for this year under part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as 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.
## **Basis of the Independent examiner's statement**
The company's gross income exceeded £250,000and I am qualified to undertake the examination by being a qualified member of the Certified Public Accountants Association, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention **in connection with the examination giving me cause to believe that:**
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
- the accounts have not been prepared in accordance with the Charities SORP (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.
## **Thomas Ojo ( BA, BSc, FCPA) Independent examiner**
**Date: 30 September 2021**
**Page 4**
**Omega Community Living Limited**
## **Statement of financial activities**
## **For the year ended 30 November 2020**
|**Unrestricted**
**funds**
**Notes**
**£**
**Income and Endowments from:**
Charitable activities
2
557,430
_______
**Total**
557,430
**Expenditure on:**
Charitable activities
3
546,821
______
**Total**
546,821
_______
**Net income/(expenditure)**
5
10,609
**Net movement in funds**
10,609
**Reconciliation of funds**
Total funds brought forward
47,938
______
Total funds carried forward
58,547|**2020**
**Total**
**£**
557,430
______
557,430
546,821
______
546,821
_______
10,609
10,609
47,938
______
58,547|**2019**
**Total**
**£**
515,050
______
515,050
473,974
______
473,974|**2019**
**Total**
**£**
515,050
______
515,050
473,974
______
473,974|
|---|---|---|---|
|||_|______
41,076
41,076
6,862|
||||______
47,938|
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
Page 5
## **Omega Community Living Limited**
## **Balance sheet**
## **as at 30 November 2020**
|**Notes**
**£**
**Fixed assets**
Tangible assets
**Current assets**
Debtors
-
Cash at bank and in hand
109,147
_______
109,147
**Creditors: amounts falling**
**due within one year**
7
-600
Other bank Loans
-50,000
_______
**Net current assets**
**Net assets**
**Funds**
8
Unrestricted income funds
**Total funds**|**2020**
**£**
58,547
_______
58,547
_______
58,547
_______
58,547|**£**
-
48,538
_______
48,538
-600
_______|**2019**
**£**
47,938|
|---|---|---|---|
||||_______
47,938|
||||_______
47,938|
||||_______
47,938|
The financial statements were approved by the trustees on 30th September 2021 and signed on its behalf by:
## **............................................**
## **Trustee**
Mr Ade Awosika
Page 6
## **Omega Community Living Limited**
## **Statement of cash flows**
## **for the year ended 30 November 2020**
|Net incoming / (outgoing) resources for the year
Depreciation and impairment
Decrease/(Increase) in debtors
Increase in creditors
**Net Cash inflow from operating activities**
Capital expenditure
**Increase in cash in the year**
Reconciliation of net cash flow to movement in net funds
**Increase in cash in the year**
**Net funds at 01 December 2019**
**Net funds at 30 November 2020**|**2020**
£
10,609
50,000
**60,609**
-
60,609
60,609
48,538
**109,147**|**2019**
£
41,076
-
-
**41,076**
-
41,076
41,076
7,462
**48,538**|
|---|---|---|
Page 7
**Omega Community Living Limited**
## **Notes to financial statements for the year ended 30 November 2020**
## **1 Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding period.
## **1.1.Basis of accounting**
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' SORP 2015 and the Companies Act 2006.
## **1.2.Cashflow**
The charity has produced a cashflow report in accordance with FRS 102.
## **1.3.Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Income received by way of grants, donations and gifts are included in full in
the statement of financial activities when receivable. Grants where entitlement is not
conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
## 1.4 **Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.5.Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
-
25% straight line
Page 8
**Omega Community Living Limited**
## **Notes to financial statements for the year ended 30 November 2020**
## **2 Income from Charitable Activities**
|**Period**
**ended**
**Unrestricted**
**£**
Total Charitable income
557,430
_______
557,430
_______
**Costs of charitable activities - by fund type**
**Unrestricted**
**funds**
**£**
Charitable Activities
546,821
_______
546,821
_______
**Costs of charitable activities - by activity**
**Period**
**Period**
**Activities**
**Grant**
**undertaken**
**funding**
**directly**
**activities**
**£**
**£**
Charitable Activities
546,821
-
_______
_______
546,821
-|**Period**
**ended**
**2020**
**Total**
**£**
557,430
_______
557,430
_______
**Period**
**ended**
**2020**
**Total**
**£**
546,821
_______
546,821
_______
**ended**
**2020**
**Total**
**£**
546,821
_______
546,821|**2019**
**Total**
**£**
515,050|
|---|---|---|
|||_______
515,050|
|||_______
**Period**
**ended**
**2019**
**Total**
**£**
473,974|
|||_______
473,974|
|||_______
**ended**
**2019**
**Total**
**£**
473,974|
|||_______
473,974|
## **3 Costs of charitable activities - by fund type**
## **4 Costs of charitable activities - by activity**
Page 9
**Omega Community Living Limited**
## **Notes to financial statements for the year ended 30 November 2020**
|**5 **|**Employees**|||
|---|---|---|---|
||**Employment costs**|**Period**|**Period**|
|||**ended**|**ended**|
|||**2020**|**2019**|
|||**£**|**£**|
||Wages and salaries|203,488|148,371|
||Social security costs|18,125|11,182|
||Other costs|1,849|-|
|||_______|_______|
|||223,462.00
_______|159,553.00
_______|
No employee received emoluments of more than £60,000 (2019 : None).
## **Number of employees**
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
||**2020**
**Number**
9
_______
9|**2019**
**Number**
9|
|---|---|---|
|||_______
9|
Page 10
**Omega Community Living Limited**
## **6 Comparative Statement of Financial Activities**
## **Statement of financial activities For the year ended 30 November 2019**
|**Unrestricted**
**funds**
**Notes**
**£**
**Income and Endowments from:**
Charitable activities
2
515,050
_______
**Total**
515,050
**Expenditure on:**
Charitable activities
3
473,974
______
**Total**
473,974
_______
**Net income/(expenditure)**
5
41,076
**Net movement in funds**
41,076
**Reconciliation of funds**
Total funds brought forward
6,862
______
Total funds carried forward
47,938|**2019**
**Total**
**£**
515,050
______
515,050
473,974
______
473,974
_______
41,076
41,076
6,862
______
47,938|**2018**
**Total**
**£**
354,702
______
354,702
352,390
______
352,390|**2018**
**Total**
**£**
354,702
______
354,702
352,390
______
352,390|
|---|---|---|---|
|||_|______
2,312
2,312
4,550|
||||______
6,862|
Page 11
**Omega Community Living Limited**
## **Notes to financial statements for the year ended 30 November 2020**
|**7 Creditors: amounts falling due**
**within one year**
Other creditors
Accruals and deferred income
Other bank loan|**2020**
**£**
-
600
50,000
_______
50,600|**2019**
**£**
-
600|
|---|---|---|
|||_______
600|
## **8 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
Total Funds
**9 Unrestricted funds**
Unrestricted funds|**Unrestricted**
**funds**
**£**
109,147
-600
-50,000
_______
58,547
_______
**At**
**Incoming**
**Outgoing**
**2019**
**resources**
**resources**
**£**
**£**
**£**
47,938
557,430
546,821|**Total**
**funds**
**£**
0
109,147
-600
-50,000|
|---|---|---|
|||_______
58,547|
|||_______
**At**
**2020**
**£**
58,547|
## 10 **Going concern**
There is not reason to suggest the charity will not continue as a going concern over the next twelve months.
Page 12