## **DRAFT REPORT OF THE DIRECTORS AND** ## **FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** ## **FOR** ## **OCEAN WOMEN’S ASSOCIATION** **(Limited by Guarantee)** **OCEAN WOMEN’S ASSOCIATION (Limited by Guarantee)** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** ||**Page**| |---|---| |**Company information**|**2**| |**Report of the Directors**|**3**| |**Independent Examiner’s Report**|**5**| |**Statement of Financial Activities**|**6**| |**Balance Sheet**|**7**| |**Notes to the Financial Statements**|**8 to 9**| 1 **OCEAN WOMEN’S ASSOCIATION (Limited by Guarantee)** ## **COMPANY INFORMATION FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** DIRECTORS & TRUSTEES: AMINA AKTAR KHANOM UDDIN HALIMA ELLIE KHAN IQBAL MIAH RAHALA BEGUM CHOUDHURY ROHEMA KHATOON MIAH REGISTERED OFFICE: UNIT 2-3, 88 MILEN END ROAD LONDON E1 4UN REGISTERED NUMBER: 04452067 (ENGLAND AND WALES) CHARITY REGISTRATION NO: 1133725 INDEPENDENT EXAMINER: SARWAR & CO CHARTERED CERTIFIED ACCOUNTANTS UNIT 2-3 88 MILE END ROAD LONDON E1 4UN BANKERS: BARCLAYS BANK PLC 2 ## **OCEAN WOMEN’S ASSOCIATION (Limited by Guarantee)** ## **REPORT OF THE DIRECTORS FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** The directors present their annual report with the financial statements of the company for the year ended 31 March 2023. **Directors:** The directors who served the company throughout the year was as follows: AMINA AKTAR KHANOM UDDIN HALIMA ELLIE KHAN IQBAL MIAH RAHALA BEGUM CHOUDHURY (RESIGNED ON 12.10.2023) ROHEMA KHATOON MIAH (RESIGNED ON 12.10.2023) ## **Objectives & Activities** Ocean Women’s Association’s (OWA) purpose is to support women of Bangladeshi origin residing in Tower Hamlets, East London. We work to improve their physical and mental health, reduce isolation, and relieve poverty and unemployment. OWA was set up in 2002 by and for local Bangladeshi women with direct experience of poverty, racism, hate crime, isolation, and disadvantage. All our clients are of Bangladeshi origin and experience racial inequality and discrimination. Many of our clients are disabled (e.g. visually impaired, hearing impaired, reduced mobility, mental health issues such as depression, bipolar, stress, low self-esteem) and/or with complex health needs. (e.g. diabetes, dementia, hypertension, cholesterol, heart problems, arthritis). We provide a women-only space in the heart of the community, which brings women out of isolation, introduces them to other women, builds their confidence and connects them to local voluntary, statutory and health services. Our projects are shaped by our members, who are involved in every stage of the planning and delivery. Our Founder and CEO is a member of the Tower Hamlets BAME Leadership Programme and works at a strategic level to champion the needs of Bangladeshi women with statutory and voluntary sector services. We have delivered a cost-of-living project since January 2023 for women age 25+, funded by Together for London (London Community Foundation). We have provided warm clothing and blankets to women and informational talks to over 100 women. The talks have made clients aware of how to access cost-of -living financial and other practical support. Topics included personal budget management, energy efficiency, benefits advice, Freedom Pass, relevant local services (e.g., luncheon clubs, ESOL classes). We made individual referrals to local cost of living support initiatives, such as warm hubs and food banks. For example, disabled women were informed about Personal Independence Payments (PIP), of which they were previously unaware. Since 1 February 2023 we started a 5-year National Lottery Community funded project for women aged 50+. The Older Bangladeshi women’s programme. To date we have delivered 15 coffee morning sessions, attended by 200 women. This project supports women in poverty through providing information on local health and community services, employment, and training opportunities. It reduces isolation and builds confidence, as well as providing a safe, warm space and refreshments. We run three activities for this programme, Coffee Morning, Escorting service, and gardening project. 3 We have had a volunteering programme in which we have provided supported volunteering opportunities to younger women. Many of them had limited English and were long-term unemployed or were students with no work experience. We build their confidence and provide them with references. Many of them went on to training and employment. Recently, 3 of our volunteers were provided with references and obtained jobs as care workers. ## **Responsibilities of the management committee** The directors are responsible for maintaining proper accounting records. At the request of fund providers, this report has been prepared in accordance with the Statement of Recommended Practice - Accounting and approved by the directors on ………………………….and signed on their behalf by: ………….................................. MR IQBAL MIAH (Director) 4 **(Limited by Guarantee)** ## **OCEAN WOMEN’S ASSOCIATION** ## **REPORT OF INDEPENDENT EXAMINER FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** We report on the accounts of the organisation for the year ended 31 March 2023, which are set out on pages 5 to 8. ## **Respective responsibilities of directors** The charity's trustees also the directors of the company are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year. under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** Our examination was carried out in accordance with general Directions given. by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts. presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a ‘true. and fair’ view and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with our examination, no material matters have come to our attention which gives us cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Charities Act or - the accounts do not accord with the accounting records we have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding? of the accounts to be reached. ………………………….. M Sarwar Hossain Sarwar & Co Chartered Certified Accountants Unit 2-3 88 Mile End Road London E1 4UN 5 **(Limited by Guarantee)** ## **OCEAN WOMEN’S ASSOCIATION** ## **STAEMENT OF INCOME AND EXPENDITURE FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** |Notes
Incoming resources
Job Retention Scheme Grant
National Lottery Community Fund
NHS Northeast London
Rosa Fund
London Borough of Tower
Hamlets
The Wakefield & Tetley
The London Community
Other
Total incoming resources
Resources expended
Direct Expenditure
Administration 4
Total resources expended
Net surplus/(deficit)
Total funds at 1 April 2022
Total funds at 31 March 2023|Unrestricted
funds
£
-
1,500
6,415
1,250
5000
10,000
-|Unrestricted
funds
£
-
1,500
6,415
1,250
5000
10,000
-|Restricted
Funds
£
-
13,866
-
-
-
-
-
-|Restricted
Funds
£
-
13,866
-
-
-
-
-
-|Total
funds
2023
£
-
13,866
1,500
6,415
1,250
5,000
10,000
-|Unrestricted
Funds 2022

£
2,397
-
-
17,765
4,997
4,610
-
50|Unrestricted
Funds 2022

£
2,397
-
-
17,765
4,997
4,610
-
50| |---|---|---|---|---|---|---|---| |||24,165
-
30,349
30,349
-6,184
14,652
8,468||13,866
-
1,121
1,121
12,745
-
12,745|38,031
-
31,470
31,470
6,561
14,652
21,213||29,819
-
21,134
21,134
8,685
-| ||||||||| 6 ## **OCEAN WOMEN’S ASSOCIATION (Limited by Guarantee)** ## **BALANCE SHEET FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2022** |**Notes**
**Fixed Assets**
Tangible assets
1
**Current Assets**
Advances
Cash at bank and in hand

**Creditors: amounts falling**
**due within one year**
Accrued expenses.
Director Account
Nest Liability
Paye & NI
2
**Net current Assets**
**Total assets**
**Reserves**
Brought Forward
Unrestricted fund
Restricted funds
**Total funds**
|**2023**
**£**
**£**
202
3,261
20,998
24,259
(1984)
(26)
(283)
(955)

21,011
21,213
14,652
(6184)
12,745
21,213|**2022**
**£**
**£**
238
3,261
13,135
16,396
(1,982)
14,414
14,652
14,652
-
14,652|**2022**
**£**
**£**
238
3,261
13,135
16,396
(1,982)
14,414
14,652
14,652
-
14,652| |---|---|---|---| ||||14,652| ||||14,652
-| ||||14,652| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies’ regime. The profit and loss account has not been delivered to the Registrar of Companies. The drat financial statements were approved by the Board of Directors on……………………………….and were signed on its behalf by: ………………………………. Director 7 **(Limited by Guarantee)** **FOR THE PERIOD 1 APRIL 2022 TO 31 MARCH 2023** ## **OCEAN WOMEN’S ASSOCIATION** ## **NOTES TO THE ACCOUNTS** **General Information:** Ocean Women Association is a private company limited by guarantee, without share capital, registered in England & Wales, registration no 04452067 **.** ## **1. Accounting Policies:** Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). ## Tangible fixed assets Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings, tools, and equipment 15% reducing balance basis. ## Use of Funds The restricted funds are solely used for restricted purposes and unrestricted funds used for all other purposes. ## **2. Tangible fixed assets:** ||**Fixtures**| |---|---| ||**And**| ||**Fittings**| |**Cost**|£| |At 1 April 2022|3,619| |Addition|-| |At 31 March 2023|3,619| |**Depreciation**|| |At 1 April 2022|3,381| |Charges for year|36| |At 31 March 2023|3,417| |**Net book value**|| |At 31 March 2022|238| |At 31 March 2023|202| 8 |**3. Accrued expenses:**


Accountancy fees
Director’s Account

PAYE

Nest Liability


**4.**
**Admin Expenses (Total):**

Wages & salaries
Bank Charge

Repair & Maintenance
Travel & Substance
Advertise & PR
Pension
Software
Stationary & Printing
Subscription
Event &Volunteer worker expenses
Telephone

Insurance

Accountancy

Depreciation

**Total**|**2023 2022**
**£ £**
1,984 1,656
26
-
955 326
283 -
---------
---------
3248
1982
**2023 2022**
**£ £**
18,122 11,585
0 13
337 0
333 462
30 0
198 0
18 0
107 0
26 0
10,119 6,164
120 513
172 183
1,852 2,172
36 42
**31,470 21,134**| |---|---| 9