Company ragistration number. 05713281 Charity registration number.. 1113703 Ockment Centre (A company Ilmited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 WESTCOTTS CHAPTERED ACCOUIITANTS & •V$INFSS ADVISERS
Ockment Centra Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examinerfs Report statement of Financial Activities Balan Sheet Notes to the Finana81 Statements 8t018
Ockment Centre Reference and Admlnistratlve Details Chairman Michael Saunby Tony Leech Chrissie Read Sarah Potterton Zoe Bradshaw (resigned 29 July 21Y24) Secretary Donna Middleton Charity Registratlon Number 1113703 Company Reglstration Number 05713281 Registered Office Ockment Centre North Street Okehampton Devon EX20 1AR Independent Examlnor Westcotts (SW) LLP Timbety South Street Axminster Devon EX13 SAD Westcotts Timberfy South Street Axninster Devon EX13 SAD Accountants Page 1
Ockment Centre Trustses, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectlves and activities Objects and aims The charity provides and maintains 8 communty centre for the inhabitants of the parishes of Okehampton and surrounding area, for meetings, lectures and classes, and for other forms or recreation and leisure time occupation, with the object of improving the conditions of life for the said inhabitants. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have du8 regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievemonts and performance The Ockment Cenlre has seen a year of steady bookings with some taking up our refreshment and lunch options which optimises the booking. Our signposting serViS are well used with increased footfall into the Centre this year. We have a go¢xl working relationship with the Citizens Advice and Community Links who remain based at the Centre and are huge ass8ts to the Community. The Work Club still remains an invaluable service for the local communty and we are very grateful for the continued support from Okehampton United Charities. Our fundraising has been going well and we are in the pro$$ of a looking at a planning application to replace our viewing platfoms in our garden. We would to thank the Okehampton Rivers Improvement Group for having some of the riverbank cleared which has greatly improved the view. The Community Fridge is still based at the ntre and has re distributed food from all the Iccal supermarkets. Cornwall Gleaning and Exeter Food Action which would otherwise had gone to landfill or be ploughed back into the ground. We have a very strong team of stsff and volunteer5 who work tirelessly for the good of the Centre. our customers, the garden and the local community. Financial review Totsl incoming resources during the year were £125,206 {2023: £98.817). A total of £34,508 (2023: £20,802) was received in grants and donations. Reserves Pollcy The trustees are satisfied that the level of reserves, as shown on the balance sheet, is adequate to cover known and anticipated costs in the short term. The trustees aim to hold one months of unrestricted expenditure in resetves which equates to £7,848. The level of unrestricted reserves at 31 March 2024 exceeds this balance. Page 2
Ockment Centre Trustees, Report Structurei governance and management Recruitment and appointment of trustees The recruitment of new trustees is locally oriented and the trustees work together to ensure candidates have equal opportunities and the best interests of the charity aayS remain forefront. Support and training will be given as required. Oryanisational structura The organisation is a charitable company limited by guarantee, incorporated in 17 February 2006 and registered as a charity on 7 April 2006. The charity was established under s Memorandum of Association which established the objects and powers of the charitable cornpany and is govemed under its Articles of Association. In the event of the company being wound up, members are required to contribute £1. The charity is a not for profit organisation governed by a board of truste8s. There are a small team of staff and a managerwho deal with the day to day msnagemenl of the charity. Rwsk Management Risks to which the charity is exposed have been addressed by a review of the Trustees. The financial records of the charity are written up each month and a report of the position to date reported to the Board. Each project is closely monitored to assess the progress against budgeted income and costs. Intemal risks are minimised by procedures which require authorisation of all transactions and a system of regular supervision and appraisal to ensure consistent quality of delivery of all operational aspects of the charitable company. ststement of tru8tees' responsibllltles The trustees (who are also the directors of Ockment Centre for the purp088s of company law) are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard spplible in the UK and Republic of Ireland The report and accounts have been prepared in accordance with the provisions in the Companies Act 2008 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not 8pprove the financial statements unless they are satisfied that they give 8 true and fair view of the stste of affairs of the charitable company 2nd of the incoming resources and application of resources, including Its income 8nd exp8nditure, of the charitable company for that period. In prepanng these financial statements, the trustees are required to". seleci suitable accounting policies and apply them consistently,- observe the methods and principles in the Charities SORP., m8ke judgements and estimates that are reasonable and prudent., state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Page 3
Ockment Centre Trustees. Report The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial positson of the ch8ritsble company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonabl8 steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the Maintenan and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurssdictions. Small companies provision statement This report has been prepared in acGordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustee5 of the charity on behalf by.. nd signed on its Michael Saunby Ch8irman Page 4
Ockment Centre Independent Examinerfs Report to the trustees of Ockment Centre {'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbllftles and basls of report As the charity's trustees of the Comp8ny (and 81s0 its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wilh the requirement8 of th6 Companies Act 2006 ('the 2008 Ad). Having satisfied myself that the accounts of the Company are not required to be aLSdited 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 OLrt under section 145 of th8 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 confimi 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 resp8Ct of Ockment Centre 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 nsidered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statem8nt of ReMmmended Practice for accounting and reporting by charities lapplic8bl& to charities preparing their accounts in accordance with the Financial Reporting Standard 8pplicable 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 understsnding of the accounts to be reached. Robyn Gifford-England ACA Westcotts {SW) LLP rimberly South Street Axminster Devon EX13 SAD 21.10.1 Page 5
Ockment Centre Statement of Financial Actfvities for the Year Ended 31 March 2024 (Including Income and Expendlture Account and Ststement of Totsl Recognised Gains and Losses) Unrestricted funds Restricted funds Totsl 2024 Total 2023 Note Income and Endowments from: Donations and legaaes Charitable activities Other trading activities Investment income 10,000 3.790 85,199 1,709 24,508 34,508 3,790 85,199 1,709 20,802 2,906 74.788 321 Total income 100,698 24,508 125.206 98,817 Expenditure on: Charitable activities (94,171) 17.702) 101,873) {100,25n (100.257) (1,440) Total expenditure 194,171) (7,702) 16,806 (101,873 Net incomel(expenditure) Net movement in funds 6,527 23.333 6,527 16,806 23,333 (1.440) Reconciliation of funds Total funds brought forward Total funds carried forward 16 146,416 88,784 235,200 236,640 152,943 105,590 258,533 235,200 All of the chaTity'8 activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in note 16. The notes on pages 8 to 16 fomi an integral part of these financial statements. Page 6
Ockment Centre (Registration number: 05713281) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 12 82,616 83,176 13 9,299 176,560 5,602 151,005 185,859 156,607 Creditors: Amounts falling due within one year Net current assets 14 {9,942) {4,583) 175,917 152,024 Net assets 258,533 235,200 Funds of the charlty: Restricted Income funds Restricted funds 105,590 88,784 Unrestricted Income funds Unrestricted funds 152,943 258,533 148,416 235,200 Total funds 16 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities- The members have not reqUId the charity to obtain an audit of its accounts for the year in question in accordance with section 476,. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The fina cial statements on pages 6 to 16 were approved by the twstees, anil authorised for issue on * nd signed on their behalf by.. Chaimian The notes on pages 8 to 16 fomi an integral part of these financial statements. Page 7
Ockment Centre Notes to the Flnancial Statements for the Year Ended 31 March 2024 1 Charity Status The charity is limited by guarant&, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charty in the event of liquidation. The add$ of its registered office is: Ockment Centre North Street Okehampton Devon EX20 1AR 2 Accounting policies Summary of significant accountlng policies and key accounting estlmates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been Consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financi81 statem8nts have been prepared in accordance with Accounting and Reporting by Charities.- Ststement of Recommended Practice (applicable to charities preparing their 8ccounts in accordance with the Financi21 Reporting Standard applicable in the UK end Republic of Ireland (FRS 102)) (issued in October 2019} - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and R8public of Ireland (FRS 102) and tha Companles Act 2006. Basis of preparatlon Ockment Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng concern The trustees Consider that there are no material uncertainties about the charivs ability to continue as a going concern nor any significant areas of UnrtaInty that affect the carrying value of assets held by the charity. Judgements and key sources of estimation uncertainty The preparation of the financial statements require5 management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of fLrture events that are believed to be reasonable under normal circumstsnces. Income and endowments Ail income is recognised once the charity has entitlement to the income, it is probable th8t the income w¢ll be received and the amount of the income receivable can be measured reliably. Page 8
Ockment Centre Notes to the Financlal Ststements for the Year Ended 31 March 2024 Donafjons and legacles Donations are recognised when the charity has been notif18d in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perf0mlan by the charrty before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants CeiVable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once ther8 is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of stsff costs. Charftsble activitles 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. Taxation The charTly is considered to pass the tests set OLrt in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible red assets Individual red assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation 8nd subsequent accumulated impaimient10&8es. Page 9
Ocknient Centre Notss to the Financlal Ststements forthe Year Ended 31 March 2024 Depreciatlon and amortlsation Depreciation 15 provided on tangible ftxed assets so as to write off the cost or valuation, less any estimated residual value, over their expected usefid onliC life as follows.. Depreciation method and rate No depreciation on freehold buildings has been charged 33.330k, 200A and 10'h straight line basis Asset class Freehold property Equipment Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-tenn highly IiquHJ investments that are readily Gonvertible to a known amount of cash and are subject to an insb3nificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings ar8 subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Stat8ment of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method end is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an uncondrtional right to defer settlement of the liability for at least e1ve months 8fter the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in fvrtherance of th8 objectives of the charty. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument. Recognitlon and measurement Basic financial instruments are initially recorded at the amount recetvable or payable including any related transaction costs, unless the arrangement Gonstitutes a financing transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amcrtised cost. Page 10
Ockment Centre Notes to the Financlal Statements for the Year Ended 31 March 2024 3 Income from donations and legacies Unrestricted funds General Restricted funds Total 2024 Total 2023 Donations Donations Grants Okehampton United Charities West Devon Borough Council 10,000 16,165 26,165 10.452 8,343 8,343 8,920 1.430 20,802 10,000 24,508 34,508 4 Income from charitable activities Unrestrlded funds General Total 2024 Total 2023 Other income 3.790 3,790 2,906 5 Income from other trading actlvlties Unrestricted funds General Total funds Total 2023 Catering Rental income 3,861 81,338 3,861 81,338 85,199 4,661 70,127 74,788 85,199 6 Investment income UnrestrTCted funds General Total 2024 Total 2023 Bank interest receivable 1,709 1,709 321 Page11
Ockment Centre Notes to the Financial Ststements for the Year Ended 31 March 2024 7 Expenditure on charitsble activities Analysls of centr8 costs 2024 2023 Staff costs Premises Communications and IT General office Govemance costs Depreci8tion Worf( Club costs 67,357 19,520 2.222 3,305 4,347 560 4,562 101,873 67,357 19,520 2,222 3,305 4,347 560 4,562 101,873 59,310 25,049 1,897 4.990 3,742 999 4,270 100,257 8 Net Incomingloutgoing resources Net incomingl{outgoing) resources for the year include.. 2024 2023 Depreciation of fixed assets 560 999 9 Trustees muneratIon and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the 10 Stsff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs durlng the year were: Wages and salaries Pension costs 69,958 1,961 62,348 1,232 71,919 63,580 The monthly averaga number of persons {in¢luding senior management I leadership team) employed by the charity during the year was as follows.. 2024 2023 No Number of staff Page 12
Ockment Centre Notes to the Financial Statemants for the Year Ended 31 March 2024 No employee received emoluments of more than £60,000 during the year {2023: Nil). 11 Independent examlnets remuneratlon 2024 2023 Fees payable to the independent examiner for: Independent examination af the financial statements T8x advisory servic88 785 730 1,500 785 2,230 12 Tangiblo fixed assets Furniture and equlpment Land and bulldlngs Total Cost At 1 April 2023 At 31 March 2024 93,715 68,785 162,500 93.715 68,785 162,500 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 12,934 66,390 560 79,324 560 12,934 66,950 79,884 Net book value At 31 March 2024 80,781 1,835 82,616 At 31 March 2023 80,781 2,395 83,176 13 Debtors 2024 2023 Trade debtors Prepayments 8,129 1,170 9,299 4,753 5,602 Page 13
Ockment Centre Notes to the Financial Statements for the Year Ended 31 March 2024 4 Croditors: amounts falllng duè wlthln one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals 4,941 3,464 86 1,451 9,942 903 1,925 508 1,247 4,583 15 Pension and other schemes Deflned contribution penslon scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scheme and amounted to £1.961 (2023 £1.232). 16 Funds Balance at 31 March 2024 Balance at 1 April 2023 Incomlng resources Resources expended Unrestrlcted funds General General Funds 146,418 100.698 {94,171) 152,943 Rèstricted funds Restricted fixed asset fund Viewing platfomi fundraising West Devon Borough Council First aid training Work club 79,523 5.119 79,523 18,491 18,165 (2,793) (46) (301) (4,562) {7,702) 301 3,795 88,784 8,343 24,508 7,576 105,590 Total funds 235,200 125,206 101,873 258,533 Page 14
Ockment Centre Notss to the Financial Statements for the Year Ended 3q March 2024 Balance at 31 March 2023 Balance at I April 2022 Incoming resources Resources expended Unrestricted funds General General Funds 153,565 85,854 (93,003) 146,416 Restrfcted funds Restricted fixed asset fund Wiewing plattorm fundraising West Devon Borough Council Roof repairs - Amokl Clark First aid training Work club WDBC Communty Localty Fund 79.523 79,523 5,119 46 1613 1,000 {1,000) (780) (4,270) 1.081 8,065 301 3,795 1,204 12,963 (1,204 (7,254 83,075 88,784 Totsl funds 236,640 98.817 (100,257) 235.200 United Charities kindly fund the Work Club year whtch enables The Ockment Centre to continue to support those looklng for employme Our viewing pl8ffomi fundraising is an ongoing pr(iect which wlll hopefully start soon. West Devon Borough Council kindly funded Cm)Mmity First Aid Training and Iov8ly new garden furniture for our beautiful garden. First aid training is funds from WDBC and 0kehOn Untted Charities towards first aid training. refr8shments and trdiner costs. Page 15
Ockment Centre Notes to the Financial Statements for the Year Ended 31 March 2024 17 Analysls of net ass•ts between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 3.093 159.792 19.942) 79,523 26,067 82.616 185.859 (9,942 Total net assets 152,943 105.590 258,533 Unrestricted funds General Total funds at 31 March 2023 Restrictsd funds Tangible ftxed assets Current assets Current liabilities 3.653 147.346 (4,583) 148.416 79,523 9,261 83.178 156,607 (4,583) 235,200 Total net assets 88,784 18 Related party transactions There were no relat8d paty tr£nsactions in the year (2023.. Nil). Page 16