Company registration number: 07673069 Gharity registration number.. 1142593 OUSEBURN FARM CHARITY LIMITED (A company limited by guarante81 Annual Rew)rt and Flnanci81 Statements for Ihe Year Ended 31 March 2024
Ouseburn Farm Charity Limited Contents Reference and Administrative 08taiL8 Trustees. Report 2to5 ChalTman's Stslemenl 6107 Independent Examin8rfs Report Statement of Finanal Acbwbgs Slalement of Finanual Activitses 10 Balance Sh981 Notes lo the Financial Ststements 121023
Ouseburn Farm Charity Limited Reference and Administrative Details Trustees IBro J Thomlon Ir8sKJned 12 May 2023 J Hartley C Singleton (Tesigned 10 May 20231 A J Philpotts Iresigned 12 hAay 2023) M Graham (reSne 1 August 20231 R Tvmer MPRoss N J Bramley C A ltirkham S Penhall (Tesigned 15 February 20241 M D Firth (appointed 6 September 20231 R D Harland lappoinled 22 November 20231 P C Chaplin (appoinled 2 August 20231 E A Gillespie (appointed 22 November 20231 Secratary F Clarke R•glst•r•d Offlce St Silas Church Building Clifford Street Newcasue upon Tyne NE6 1PG The charlty18 Incorporated In England and Wales. Company Reglstratlon Number 07673069 Charlty Reglstratlon Number 1142593 Sollcltors: David Gray Solicitor5 LLP 56 Westgate Road Newcastle Upon Tyn8 NE15XU Ind¢pend•nt Examlner Simon Brown BA ACA DChA Azets Audll Services Bulman House Regenl Centre Gosforth Newcasue upon Te NE3 3LS
Ouseburn Fami Charity Limited Trustees. Report The Iruslees, who are directors for the purposes of company law, present the annual report togelher with the financial slalemenls of the charilable company for the year ended 31 March 2024. Stru¢tur•, govornan¢¢ and manag•m•nt Nature of govornlng document Ou5ebum Farm Charity Limited is registered 35 a charitable COTnpany limhed by guarantee and was set up by a Memorandum of Association. The tharity was incorporated on 16 June 2011 Icompany number 076730691 and registered 88 8 th8rlty on 27 June 2011 (ch8rfty number 11425931. Re¢rultment and appolntment ol trustees Truslees are appointed by Tyne Housing Association in accordance with Ouseburn Farm Articles of Association. The pr&s8nt trustègs havg considerable kned90 and exrtiSe of management and promotion of Ouseburn Fann. Inductlon and trnlnlng of Irustoes All new trustèes re¢givg an induction cov9rtrvJ thelr rolos and re5pon$lblllties, bgal Impllcalions of th8 trust88 role and background to the organisalion. Additional trainlng Is made available as needed matched to individual requiremants. Organlsatlonel structurn Overall managgment is dglegoted by tho trustees lo the Senlor Man89gm8nt of Tyne Houslng Association Limlted who opernle Ihe charilablg company In Ilne wilh the policies approved by Ihg Irustees. The Trustees of the charfty meets four times per year, In addltlon to whlch It convenes an Annu81 General Meellng. None of the trustees has any beneficial interest in the company. Golng ¢on¢em The Truslegs have consldered the ¢haritabl9 mpan$ current and ftjture Prospects and 115 availability of financing from ils ullimale parent undertaking and are satisfied that the company can continue lo pay lis liabilities as they fall due for a pgriod of at least 12 months from tho dale of approval of these financial sialements. For this reason, the Trustee5 continue lo adopt the going concern basis of preparation for these finanGial statements. Further details are set out in the accounting policies.
Ouseburn Farm Charity Limited Trustees. Report Financial review The charity recelved grant funding and donations lotslling £200,464 {2023.' £229,078> and income from charitable acts"vities of £252,350 12023.. £200.6581 which Cover the Cost of managing and promoting the Ouseburn Farm. In addits.on il generaled income from trading activities of £5.96512023.' £15,736) which were actiWtS in line with the charitable objectives. Expenditure (Juring the year of £440.879 {2023.. £441.9751 has helped the charity meet ils objectives by continuing lo operate a5 a free visiior attra¢tir)n. offeiing training lo vulnerable adults. education activities for local school chikdren and volunleerin9 OPPOrtunitse5 for the benefit ol the local community. Total reslricled funds carried forwTad were £24,000 12023.. £ Nill and unreslricled fvnds ¢arried forward al 31 March 2024 were £84,155 12023.. £90,255). The fami ha5 reduced its financial dependency on Tyne Housing and has drawn upon Charily Commission guidance lo inform rts reserve policy. The reserves of the Organisation 11 be sel aside to cover 3 months running c0515. maintenance and capital expendilure or dissolun. Excess reservgs wll be reinvested lo support the Farm's charitable purpose. Prlnclpal lundlng sources The maln sources of Sncome for Ihe charity are traSnlng and educatlon actl¥AJgs, hlre of tho buildings and use ol lacililies. The charity also benefits from charitsble donatlons including a donation from Tyne Housing Association Limited. Key Management Personnel The board, who give their lime freely and no tnjslees recelveil remuneration in the year, have considered who the Key Management Personnel IKMPI of the charity, as r501ed in the Reference and Administration section. Togelher with the board. Ihese KMP are those in charge of directing and controlllng, running and operating the activities of Ihe charity on a day to day basis. The pay of the KMP is revlowed annually and normally incTeasod in accordance with avorage 8arning5. The trustees benchmark against pay levels of olher charities and similar organisalions within Ihe sector and thg region. Pay leve15 are Sel using Ihis information together with the budget and forecast inlormalion, ensuring that the charity can afford any proposed increases. The board then agree any uplift lo muneralion. Alms and key objectlves for future perlods Ouseburn Farm aims io continuo lo benefil Ihe public by Continuing tr) advance education by providing social, recreational. agricultural, environmenial and arts and crafts Iraining. Ou5eburn Farm will a150 conlinLie to Provide training and WOTk5hop facilities for vulnerable advlls.
Ouseburn Farm Charity Limited Trustees. Report OblèetlVo$ •nd •¢tlvities Object5 and aims Ousebum Fami Charity Limited develops its activilies in accordance with its prime objectives, that is lo man8ge and promote the Ousebum Fam). Ousèburn Farm, situat8d in tho east and of N8wcasU8. is a free visitor attraction that boasts an award winning environmentally friendly vis((or centre which includes pigs, shèep. goa15, chickèn, rabbits, guinga pigs, meadows, ponds and WOLxJland. The farm offeTS training lo vulnerable 8dulls, volunteering opportunities for k)c81 people and a range of aclivilie5 for families and school children. Ouseburn Farm Charity Limited is a company limited by guaranloe and a registored Charity establish to ¢arry on the business of.. al advanclng educallon by prowding sttlal. receational. a9Cultural. envlronmentsl. art. craft and Iralning for public benèfit b} Telieving the neèds of peoplè wth disabilities. both mental and physical, by providing trainlng Fundrnlslng dls¢losur•s Thg charity is required lo reporl how it deals with fundr8isin9 from the public. The charity dogs not use a prOfesson81 fundraiser or commercial participator lo raise funds. Any monles raSsed dliecl from the public follows all guidelines sel out by tho Charity Commission and UK law Sn every respect. Wè re8pecl tho privacy and contact preforenc86 of all putllc donors. Publlc ben•flt The Iru51ees are satisfied that thg VDrk of tho farm continues lo delN8r public bènefit. a8 sel out In the Chairf5 report. The ITuslees confirm that Ih8y have compliad wth th8 r8quiremenls of Section 17 of thè Charitios Act 2011 to havè due r8gar(I to the public bgngfrt guidance published by th8 Charity Commission for England and Wales.
Ouseburn Fami Charity Limited Trustees. Report Statement of Re$ponslbllitie$ The Iruslees (who are also the directors of Ousebum Fami Charity Limited for the purposes of company lawl ale responsible for preparing Ihe Irusiees. report and the financial slalemenls in accordance with applicable and Uniled Kingdom Accounting Slandards (United Kingdom Generally Accepted Accountsng Practscel, including FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the iruslees to prepare financi statements for each financial year. Under company law the Iruslees musl not approve the financial statements unless Ihey are satisfied that they give a true and lair view of the slale of affairs of the charitable company and of Ihe incoming resources and application ol resources, including its income and expenditure, of the charitable company for that period. In preparing these financial slalemenls, the trLsslees ale required lo.. select suitable accounting )liCieS and apply them con5lslenU, obs9ry9 the mgthods and principles in Ihe Charities SORP., make judgemen15 and e5timale5 thal are reasonable and prudenl- slate whether applicable accounting standards. comprising FRS 102 have been followed. subj$cl to any mal9rial departurgs dis¢10$gd and expL4ined in Ihe financial slalemenls,. and prepare the financial slalemenls on the going concem basis unless il 5$ Inapproprlatg to pr8sumo that the charitable cornpany will continue in business. The Iruslees are responsible for keeping proper accounting records that can dlsclose with reasonable accuracy al any lime the financial position of the charitable company and enable tham to ansura that the financial stslemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Irwularities. The trustees are r•sponsibk lor the maintenancè and Integrity of the corporate and financial Information Includ8d on the Charitable companvs website. Legi51alion goveming the preparation and dlssemlnatlon ol flnanclal slalements may differ from legbslalion in other jurtsdictions. Small ¢omp4nle$ provlslon Statement This report has been PrePad in accordance wlh the small companies regime under the Companles Acl 2006. R•appolntmènt of ExamSn¢r The charity 15 undertaking a lender process lin conjunction its parent charity) and an examiner 11 be appointed al the next AGM. The annual report was approved by the Irustees of the charity on behalf by.. signed on ils Chairman and trustee
Ouseburn Farm Charity Limited Chairman's Statement Continuily in a changing world, a5 most loyal supporters of the farm know the charity has a great mission, lo create place for growing, plants, animals. bul m051 of all.. people . I trust my April 2023 to March 2024 surnmary underscores th81 Ousebum Fam) grows 8ach year creating charitable outpu15 for worthy beneficiarios. As Chair of Ousebum Farm Charty Limited, with my Vice-chair Jennifer Hartley and Trustee5 on our Board and sub groups we provide the checks arKI balances v*ith the executive team who do the doings th81 make this role so heart-wamiing. Ousebum is an iconic place wlhin an iconic part of Newcastle and one with so much hi510ry - my own famity grazed cawe and sheep under tho Byker Bridge - where the farm now sils. The farni has many eloments weaved InderfUlty into its day-t(Hlay activities, staff. volunleefs and trustees maximising positive a¢livities and ifs hard not lo Smile when I visit and even more so when I cast my mind back lo the Cowd shul down. Like all famis there is work to do every day and we particularly Ih8nk our volunteers, some corpor818 others independent who last year gavg up 10.064 hours, worth £161,426 to the farm. Thè social value ol the activity fami was found to be anything up lo £16.04 for gV8ry £1 spent. a very significant rnultiplior and a5 a board we are very proud of a measured, quantifiablg Outcomg lo 'what Wg do hgrg,. Volunte8ring dS not happen wilhoul sub518nlial training, risk awargn8s$ and OUragement. Every element of th8 activity of the fam) links in and supports each other. about as cir¢ulor an economy as you can gel, café, shop and gaTd8ns. Reaching out and Gr8ating social capital lor all. In my last annual report I was able to announce an exciting new joint venture with the Srnile For Llfe Charity running Calé Beam al Ouseburn. capital funding had bèen jointly drawn down and a year in Wg are proud lo report (hat the ¢nt¢rpri5g is going from Strength to strength. I have beon an enlhusiaslic customer and wilh 20 ye8rs as a direclor of a calering business il is tricky lo gel right, the food is fantastic and great lo see the placemen15 so well h)oked after and deliveiing the best in food. bgveragg and custom8r $8rvic8. Profits for both organi5alKJns wll come in ovei the comSng years. A good and prudent decision by both tharity boards. Events, espec1811y durfng the school holidays are essontlal, Ihg fami provid85 8 free lo onler venue all year round and sensibly priced events and activities which this year were attended by 2053 people. The lacl that events sell out is very Teassuring and annual evenis such as the Ousoburn 'The Late Shows, beSng added to other new evenis such as Goal Walking. Ousebum Festival, Famers Club, and Animal Drawing. 11 would be very Llifficvll for the fam) lo bg economic from the assels il has and so the volunteering mentioned above and sponsorship fils charitable gimng, from gift aid, to COTpof8te glfting to other charities facilitating our actNities. 11 has been a tough lime in the ch8ri18ble reli8nl sgclor and businesses have had to cut as interest rates r05e. local authorities also have very limited funds so Ouseburn farm must b8 more innovative and more competitive lo balance the books. One other important area of heart warning aCtity 5s the expanding placement programme. th15 service is so nee(Jed and the board has encouraged ways to expand on sile and would consider other 511es if that made sense. Thank you lo all who have supported expanding SENISEND activities that make such a difference to individuals and familiès. Hugh Slolliday. as the Fami Manager conlinues to lead a strong and talented team and co-ordinate th our parent organisation, Te Housing. This year being their 501h Anniversary and il was great lo attend their celebration event al St James's Park on the 3rd November 2023. il was a wonderful group of stakeholders and residents that came together and the report on social capitsl created by Tyne Housing and the Fami Charity was a real highlNJht. The synergies are very subStsn81 8nd a contribution lo central costs go lo TyTre Housing and a subsidy lo thg farm costs corne back and the farm does ils best lo break even and bviKI reserves from income keeping vary close to OUT 3 months of ¢05t5 in rèsèrves. Of course thè Farm is In a couple of years so watch thi5 space. a time to elebrate and make plans.
Ouseburn Farm Charity Limited Chairman's Statement Our charity is lucky that Hugh Stolliday tskes a real Inte$t in Govemance and the risks that can exist in any business and charity. A wish for diversity and evidence that lived experience representation is nev8r tokenistic bul as embedded and taken account of. Can I thank all the staff and volunteers and trustees, &speci81ty those Directors and staff who 18ft this year, namety Simon Penhall Idiwtorl. who the board of ITUStees in February 2024. AdditlDnally. the trustees would like to send a special thanks to the farm manager. Hugh Stolliday, who left the organisation in May 2024 after 4 and a half years. Hugh joined the farm just before the pandemic hil. and navigated Ihe organisation through the challenges thal came ¥Mth Ihat. Hugh leaves the farm in a much better position than when he started. for which we are incredibly grateful and we wish hlm all the best for his future. In May 2024. Katie Bates joined the organisation as Ihe new m8nager. Katie comes with a wealth of knowledge of the Ousebum area, and a background in charity management and fundraising, and we are excited to Sè8 what ¢hangè will Come through her oversight of the farm. The farm has learnt to pivot and is more than Ihe sum of tts peopl8 and place, but they aro both very slar. The story anil outcomes keep growing. Il's a pleasure for us all to serve. lan E Brown Chair
Ouseburn Farm Charity Limited Independent Examiner's Report to the trustees of Ouseburn Farm Charity Limited ('the Company.) I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basls of rèport As the charity's Iruslees of ihe Company land also ils directors for the purposes of company law} you are responsible for the preparali¢Jn of the accounts in accordan¢8 wilh the requirements of the Companies Act 20061'lhe 2006 Act'l. Having satisfied my3elf that the accounts of the Company are not required lo be audited und8r Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examlnallon of your charity's accounts as TriOd out under seclK*n 145 of the Chadlies Acl 2011 I'the 2011 Act'i. In Carng out my examination I havg folk)wed the Dir6clions 9lven by the Charity Commission under seellon 14515llbl of the 2011 Act. Independent examlnerfb $tat•m•nt Slnce the Company$ gross income exceeded £250.000 your examlner musl be a membgr of a body lisied in sectson 145 of Ihe 2011 Act. I confirm Ih81 1 am qualified lo undertake Ihe examination because l am a member of the Inslllute of Chartered Acts)untants in England and Wal8s, which is one of Ihè listed bodias. I have completed my examlnation. I conflmi that no mattèrs have me to my attentson In conngcllon wlth the exarninatlon glvlng me cause to believe: 1. accounlSng records werg not kept In resP&Ct of Ousabum Fami Chadty Lfjmllgd as r•qulred by section 386 of Ihe 2006 Act., or 2. the accounts do not accord Vth those rg¢ords: or 3. the accounts do nol comply th the occounling requ1MentS of section 396 of the 2006 Act other than any qUIreMent that the accounts give a 'true and fair vlevl %thlch 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 prlnclple5 of the Statemont of Recommended Practice for accountin9 end reporting by charitie5 lapplicable to charities preparing their a¢coLbnls in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concgms and have come acros5 no other matters In connection wlh the examination to which attention Should be dravm in this report in ordgr lo enable a proper understanding of the accounts lo be reached. Simon Brown BA ACA DChA Azets Au(Jit Services Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS Dale.. Azels Audit Services is a trading name of Azets Audrt Services Limited.
Ouseburn Farm Charity Limited statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2024 Total 2023 Unrestricted Rostrictgd Note Income and Endowments from: Donation5 and lega¢ie5 Charitable acbvilies Other Iradlng aCtlI18S 33.848 252.350 5.965 166,616 200.464 252.350 5.965 229.078 200,658 15,736 Total Income 292.163 166.616 458.779 445.472 Expend5ture on: Raising funds Charitable actswties {62.9121 235,351 162.912) 377,967 162.6201 379,3551 1142.616 Tolal Expenditure 298.263 142.616 440.879 441,975 Ng1 lexpendilureyincome Nel movement in funds 16,100 24.000 17.900 3.497 16.1001 24.000 17,900 3,497 R•concillatlon of funds Tol81 funds broughl forward 90,255 90,255 86,758 Tot81 funds carried fon¥ard 15 84,155 24.000 108.155 90,255 All of Ihg charity's acllvtllos derivo from continulng operaJons during the above Iwo periods. The funds bre8kdown for 2023 is shown in nole 15.
Ouseburn Farm Charity Limited Comparative Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and L055es) Totsl 2023 Unre5tTlcted Re$trlcted Note Income and Endowments from: Donations and legacies Charitable acb'vity'es Other trading activittos 71.186 200,658 15,736 157,892 229,078 200,658 15.736 Total incom8 287,580 157.892 445.472 Expenditure on: Raising funds Charitable activtlies 162.6201 221.463 162.6201 379,355 157,892 Total expandllura 284,083 157.892 441,975 Nel income 3,497 3.497 Ng1 movemgnt In funds 3.497 3.497 R8conclllatlon of fund8 Total funds brought loard 86,758 86,758 Total funds carrled forward 15 90,255 90,255 10
Ouseburn Farm Charity Limited (Registration number: 07673069) Balance Sheet as at 31 March 2024 2024 2023 Note Current assets Debtors Cash al bank and in hand 12 51.514 130,118 181.632 61,567 87,248 148,815 Credltors: Amounts falllng due wlthin one year Not assets 14 173,477 58,560 108,155 90,255 Funds of the charlty: Restricted 24,000 Unrestricted Income funds Unre51ricled 84.155 90,255 Total funds 15 108,155 90,255 For the financial year ending 31 March 2024 Ihe charily was enlilled lo exernplion from audit under section 479A of Ihe Companies Ael 2006 relating 10 5ub5idiary cornpanies. Direelors, responsibilities: The members have not required the charity to obtain an audit of rts accounts for the year In quesllon in accordance with section 476- and The directors acknowledge their SponSIbl1111eS for mp.9 with the requirements of the Act with rèspect to a¢coLsnling record5 and Ihe preparallon of accounts. Thè financial slalemenls on pages 9 to 23 were approved by Ihe trustees. and authorised for Issue on .IQ/c?14 and signgd on their behalf by.. wn airman and Irustgo 11
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charlty status The charity is limited by guarantee, Incorporated in England and Wales, and consequentty does not have share capital. Each of the Iruslees is liable to conthbule an amount not exceeding £Nil towards the assets of the charity in the event of IKiuidation. The address ol Ils registered office is: St SiLgs Church Buikling. Clifford Streat. Newcastle upon Tyne, NE6 1PG 2 Accountlng poll¢l•s Summary of $lgnlll¢ant a¢¢ountlng poll¢l•$ •nd k•y •¢¢ountlng ostlmat•$ The principal accounb'ng policies applied in Ihe preparats'on of Ihese financial 5t8lemenls are sel out below. These policies have b8en consislenlty 8pplied lo all the years presented. unles5 othe58 $18led. Statement of eompllance The financial slalements have been prepared In acconjance wth Accounllng 8ntJ Reporung by Charities.. Slalemenl ol Recommended Practic8 applicable to chartbes preparlng thglr a¢¢ounis in accordance with Ihe Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 10211gffe¢live 1 January 20191- Ichariiigs SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of lieland IFRS 102). They also comply wth th8 Companies Act 2006 and Charitie5 Act 2011. Basls ol prgparatlon Ouseburn Farm Charity Llmlled meets the definition of a publlc bgnefll enlity under FRS 102. Assèts and liabilities are initially recognised at hSstorical cost or transaction value unbss otherwis8 Stated In the relevant accounting policy notes. Going concern The Iruslees consider Ihal there ore no material uncertainbes about the charitys ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assels held by the charily. Exemption from preparing a cash flow statèmènt The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have Ihergforo not includod a cash flow statement in Ihese financial stalemenl5. Estlmation uncertalnty andjudgements The pr¶lion ol ihe financial slalemenls requires management lo make judgements, eslimales and assumptions that affect the amounts reported. Incorn• and endowments All income is recognised once th8 charity has entiuemenl lo the income, It is probable that the incomg will be receNed and the amount ol the income receNable can be measured lIablY. 12
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Donation5 and lega¢les Donations are recognised when the charity has been notified in writing of both the arnounl and selllemenl dale. In the event that a donal1 is subjecl lo condilions that require a level of performance by the charity before the charity is enliued to the lunds. Ihe income is deferred and not re¢ognisèd until either Ihose conditsons are fully mel, or the fulfilment of those conditions is wholly within the control of the charity and il is probable that these conditions will be fulfilled in the reporting period. Grants r•eelvabl• Grants are recognised when the charity has an 6ntiUem8nt to the ftjnds and any CondiOn$ linked lo the grants have been mel. Where performance conditions are attached lo the grant and are yel lo ba mel, the incom8 is recognised as a liability and included on Ihe balance sheet as deferred income lo be released. Deferred In¢om¢ Delerred income represents amounls received for ftjture periods anil is released to Incomlng resources In the ptrrlod for which, 11 has been received. Such income Is only deferrod when.. The donor speafies that the grant or donalion mu51 only be used in fulL¢re accounling period5'. or Th& donor has imposed condibons which musl be met before the charity has unconditional enlillemenl. Expendltu AJI expenditure is recognised once there 15 a legal OT ¢on51ruclive obligation lo that expenditurè, il is probable selllemenl is required and the amount can be measured reliably. All costs are allocat8d to the applicable expenditure heading that aggregate slmilar cost5 to that calegory. Where costs cannot be directly allribuled to particular headings they have been allocated on a basis consislenl with the use of resources. wilh central staff costs allocated on the basis ol lime spent. and depreciation charges alk)caled on the portion of Ihe asset's use. Other supwrt costs are albcated basgd on Ihg spread ol staff costs. Ralslng fund$ These are costs incuffed in attracting voluntary income. the management of investments and those incurred in trading aclivilies that raise fun¢Js. Charltable activities Charitable expenditure comprises those costs incurred by the charity in the delivery ol ils activities and services for its beneficiaTies. It includes both costs that can be allocated direcuy lo such activities and those cosis ol an indirect nature necessary to SUPFQrt them. 13
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Support Costs Support costs includ8 Genlral functions and have been alh)caled lo advlty cost calegod&s on a basls consislenl wlh the use of resources. for examplè, allocating property costs by floor areas, or p8r capita, staff costs by the tlme spent and other costs by thelr usage. Gov8rnancg costs These include the costs 8ttributsble lo the chafjty5 compliance with conslilutional and 51alutory requiremenis, including audit. stralagic management arKI tru51ees meetings and r8imbursed exp&nses. Governmont grnnts Government grants are recognised based on the accrual model and are measured at the falr value of the asset received or receivable. Grants are classifi8d a3 relating either lo revenve or lo assets. Grants relaling lo revenue are recognised in incorne over the period in which the related costs are recognised. Grants relating lo assets are reccgnised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as d8f8rr&d income. Taxatlon The charity Is consldered to pass the tèsts sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it me8ts the definition of a charitable company for UK corporation tax purpos&s. Aceordingly, the charlty 15 Potentially exompl from taxation In rgspect of Income or capltal galns received within categorigs ¢ovgrod by Chapler 3 Part 11 of tho Corporauon Tax kt 2010 or SgclSon 256 of the Taxalion of Chargeable Gains Act 1992, lo Ihe exlenl th81 such income or 9ains are applied exclusively lo charitable purpos8S. Trado dobtors Trade debtors are aMnIS due from $tomor5 for merchandise sold or yervic65 performed in the ordinary course of busin8s$. Trade debtors are recognised initially al the transaction price. They are subsequently measured al amortised cost using the effgclive inleresl melhcKI. less provlsion for Impairment. A provislon for the impairment of trade debtors Is gsiablishgd whgn thgrg 1$ oblaciiva avidanca that the charity will not be able lo collect all amounts duè according to the original tem8 of the receivables. Ca$h •nd ¢o¥h ¢qulval?nts Cash and cash equivalents comprise cash on hand ond call deposits. and other short-18rm hlghly liquid investments that are readily convertible lo a known amount ol cash and are subject lo an insignificant rlsk of change in value. Trade creditors Trade CTedilor5 are obligations lo pay for goods or services that have been acquired in the ordinary course ol business fr(¥n suppliers. Accounts payable are classrfied as current liabililies rf the charity does not have an uncondilional right, at the end of the reporting period. to defer settlement of the creditor for al least twelve months after the reporting dale. If there is an unconditional right to defer settlement for at least twelve months after the reporting date. they are presented as non•currenl liabiles. Trade creditors 8re recognised initialty at the transaction pri and subsequenlly measured al amortised cost using the effect6ve interest methcrfl. Fund structure Unrestricted income funds are general fvnds that are avaiLable for use at the trustees discretion in furtherance of the objectives of the charity. 14
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Restricted income fund5 are those donaled lor use in a particular area or for specific purp05e5. the use ol which is festri'cled lo Ihal area or purpose. 3 Incom• from donatlons and 18gacies Unrestricted Total 2024 Total 2023 General Re$trlthd Oonalions and legacie5'. Donations Gran15. including capital grants; Grants 33,848 33.848 59.186 166,616 166.616 169.892 33.848 166,616 200,464 229,078 Income from donations Re$trletod funds 2024 Unr•8trlcted funds 2024 Total fund5 2024 Total 2023 Donations and legacie$,' Tyne Housing Assoualion General Donations On8 Utilily Bill Gold Sponsorshlp Siemens Gamesa Renewable Energy Ltd Sterling Phamia Gold SponSOTship By the River Brew Co- Sponsorship NE1 Gentian Partnership- Sponsorship Sage Ben Hoare Bell LLP Cook House - Sponsorship 17.531 14.367 17,531 14.367 28,000 20,903 250 250 200 200 1.500 1,500 3,000 450 5,000 333 1,000 500 33.848 33.848 59,186 15
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Incomo from Grants RestrScted fund$ 2024 Total funds 2024 Total 2023 Grants., Community Foundallon Garfield Weston Foundation Mila charitab Organisalion National Lottery Community Furbd Will Charitsble Trust Community Foundation (Gron9 Tcg8lhor) The Edward Goslling Foundation Soge Foundation N8.on81 Lott8ry-Cosl of Living North of England P&1 Assocation Lowgs Grant Gibson Charitable Trust The M8cRobert Trust Sir James Knott Trust Connected Voice The O'oyly Carte Charitable Trust Hays Macintyre CLA Chariiable Trust NTCA The Churchill Fellowship North East Local Entgrprise Partnershlp 9.441 9,167 13,000 58.523 9.441 9,167 13,000 58,523 7.260 20,000 2,000 57,258 18.000 6,681 3,636 14,5¢XS 17.072 6,681 3,636 14.500 17.072 10.000 10,000 2,000 8.000 3.475 5,000 4,000 1.250 5,000 24,(N)O 24.000 1,455 3.596 3.596 4,180 11,650 166.616 166.616 169.892 16
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 4 Incom• from charltabl• activStlas UnTestricted funds General Total 2024 Total 2023 Chartlable act1118S 252.350 252.350 200.658 5 Income from other trading activities Unr•$trl¢t•d Total 2024 Total 2023 Gon•rnl Tradlng income; Sales of goods and $8TViCe$ 5,965 5,965 5,965 15,736 15,736 5,965 6 Expendlture on ralslng funds Costs of tradlng a¢tlvltl•s Unrè$trlctod Total 2024 Total 2023 General Retail 8nd other costs 62.912 62,912 62,620 62,912 62,912 62,620 17
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 7 Exp8ndlture on char5tablg actFvttl•s Unr•strlct•d Total 2024 Total 2023 General Restricted Charitable activittes Allocated support Costs 174,143 61.208 142.616 316.759 61.208 324,355 55,000 235.351 142,616 377,967 379,355 Total for 2023 221.463 157.892 379,355 8 Analysls of govomanc• and support costs Support costs alloc•t•d to charlt*bl• actlvltl•# Support Total 2024 Total 2023 Central Running Costs 61,208 61.208 55.000 The Independent Examlnèrfs Fe8 of £3.50012023= £2,420) was paid by the parent Tynè Houslng, but then recharged in the above central running costs. 9 Trusto05 r•mun•ration and gxpons•s No trustees, nor any persons connected wth them. have reeetved any remuner8tion from the chadty durlng the year. No Iruslges have received any reimbursed expenses or any other bengfits from the charsty during thè yoar. 18
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 10 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year worn: Wages and salaries Social security costs Pension costs 232,871 16,038 5.464 195,007 13,639 6.654 254,373 215.300 The monthly average number of persons Ilncludlng senlor management learnl employed by the charity during the year was as lollows.. 2024 No 2023 No Employees 14 13 No employee received emoluments of more ihan £60.1)00 during Ihe year. The lolal employee benefils of the key management personnel ol the charity were £36.460 12023 - £36,052). 11 Taxatlon The charity is exempl from laxalion in respect of income or capi¢al gains recoived wilhin categories cover8d by Chapter 3 Part 11 01 the Corporation Tax Act 2010 or Section 256 01 the Taxation of Chargeable Gains Act 1992. to the exlenl that such income or gains are applied exclusively lo charitable Purse5. 12 Dèbtors 2024 2023 Trade debtors Due from group undertakings Accrued income VAT re¢overable 28,190 13.214 9.661 449 36,885 19,359 2,856 2,467 51.514 61,567 Trade debtors is nel of bad debt provision lotalling £28.67412023= £24.8621 13 Cash and cash equivalents 2024 2023 Cash al bank 130,118 87.248 19
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 14 Cr•dltors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals Deferred income 21,484 13,896 38,097 15,197 4,400 38,963 73,477 58,560 2024 2023 Deferyed Income al 1 Aprll 2023 R850urces deferred in the period Amounts released fr7 pvIouS prv)ds D6fèrTed income al year ènd 38,963 38,097 38,963 23,440 38,983 23.440 38,097 38.963 20
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 15 Funds Balance at 1 April 2023 Incoming re50urce5 Resources expended Balance at 31 March 2024 Unreslrlcted funds General General .255 292.163 1298.2631 84,155 Rèstricted funds National Lottery Community Fund Garfield Weston Foundation Sir James Knott Tru51 North East Lwal Entarprise Partnership Sage Foundatlon The Edward Goslling Foundalion Mila Charitable Organisation Lowes Fin8n¢i81 Management Community FoundaliM- Cost of Living Community Foundati- Growing Hays Macintyre National Lotte Cost of Living 58,523 9.167 5,000 IS8,S231 19,1671 {5.0001 3,596 14.500 {3,5961 114,5001 3,636 13,000 2.000 (3,6361 113,0001 12,0001 9,441 19,4411 6.681 24.000 17.072 16,6811 24.000 17,072 Total restrlcted funds 166.616 142,616 24.ODD Total funds 9).255 440.879 108.155 The specific purposes for vthi¢h the fund$ a to be applied are as folk)ws'. National Lottery CommunSty Fund: Care famiing pogramme Garfield Weston Foundation: Core funding Slr James Knott Trust: c.ore funding North East Local Enterprise Partnèrship: Ousebum Green Spaces project Sage Foundation - Sustainable food production at Ousebum Farm Edward Gostllng Foundation - Care farniing programme Mlla Charltable Organisation- Farm running costs Community Foundation- Animal Assisted Ther3py prramMe Hays Mclntyre- Thi5 15 lunding toward5 the Buikjing Workshop project. 21
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 16 Analy$ls of net •$$ots b•tweon funds Unrestrlcted Gèneral RestrJct•d Total funds Nel current assglsllliabllities} 84,155 24,000 108,155 Unrestrlcted Total funds at 31 March 2023 Genoral R•strlctod Nel current asselsllllabll¢llesl 90.255 90,255 17 Analy•ls of not funds At 1 Aprfl 2023 Flnanelng cash flows At 31 Mah 2024 Cash al bank and In hand 87.248 42,870 130,118 Nel funds 87,248 Al 1 Aprll 2022 42,870 Flnanclng ¢a$h flows 130,118 At 31 March 2023 Cash al bank and In hand 207,583 120,335 87,248 Nel funds 207,583 120.335 87,248
Ouseburn Farm Charity Limited Notes to the Financial Statements for the Year Ended 31 March 2024 18 Relatèd party transact5ons During the year the ¢haTlty made the following related paty transactions.. Tyne Housing Association Limited ITyne Housing Association Liffl((ed is the parent entity of the charltyl During Ihe year, the charity received £17.531 12023.. £28.000} from the Association in the form of donation lo the charity. The chanly paid a management charge of £61,208 {2023'. £55.000) to the A$Sl0110n during the year The charity also invoiced £256 for rM hire12023= £4.6641.. Al the balance sheel date the amount due from Tyne Housin9 As50cialion Limited was £13.21412023 - £19,359). 23