OCEAN."" REGENERATION TRUST creAtiMg ome o(ertM Ocean Regeneration Trust Trustees. report and financial statements For the year ended 28 May 2021 Charity Registration No: 1151871 Company Registratlon No: 06604161 (England and Wales)
OCEAN REGENERATION TRUST Informatior5 Director5 Abdul Wahid Ali Sean Baine Cllr Dipa Das Charlotte Gibbon5 (resigned I l March 2021) Abdi Has5an (resigned I l March 2021 > Cllr james King Eric Sorensen (resigned 16 June 2021) Eddie Stride Michael Tyrrell lan Watkins {Resigned 14 April 2021) Sakhawat Hus5ain (appointed I l March 2021) Company Secretary Michèle Bailleux Charity number 151871 Company number 06604161 Registered office Harford Street Multicentre 115 Harford Street London EI 4FG Bankers The Co-operative Bank POB 250 Delf House southaY Skelmersdale WN86 Solicirors Russell-cooke Solicitors 2 Putney Hill London SW156AB Accountant and Independeni Examiner John Wheeler Chartered Accountant 24 Dukes Wood Avenue Gerr2rds Cross Buckinghamshire SL9 7JT Ocean Regeneration Trust Annual Reports aThd finar Statwnent5 Ye3r Ended 28 May 2021
OCEAN REGENERATION TRUST Contents Page number Trustees. Report Independent Examiner'5 Report 10 Statement of Financial Activities Balance Sheet 13 Notes to the Financial Sutements 14 Ocean Regeneraibtin Trusi Annual Report3 and Fl[Linc Statements Year Ended 28 May 2021
OCEAN REGENERATION TRUST Trustees. Report for year ended 28 May 2021 The Trustees are pleased to present their annual report wgether with the financial sotements for the Charity for the year ended 28 May 2021 which are also prepared to meet the requiremenr5 for the Directors. report and accounts for Companies Att purposes. The administratyve infom)aEion set out on page I forn15 part of thi5 reporL The financial staternents comply with the Charities Att 201 l. the Companies Aci 2006. the Memornndum and Article5 of Association. and Accounting and Reporting by Charitie5- Sracemeni of Recommended Pracuce (SORP) applicable to charities preparing their acco*Jntants in accordance with the Financial Reporring Standard applicable in the UK and Republic of Ireland (FRS 102) (effertive l January 2019}. Public Benefit We have referred to the Charity Commission's Public Benefit guidance when reviewing our aims and objectives and in planning our acuviues. In parcicular. the Trustees have considered how Ihe p5anned activities of the organi5auon will contribute to the aims and objectives that have been set for the Chariry. Objects of the Charity The Ocean Regeneration Trust (ORT) ensures thai all activities undertaken meet the objects of the Charity as set out in the Memorandum and Articles of Association which were adopted on 5 April 2013 and amended on 20 December 2017. These are to develop the capacity and skills of the members of socially and disadvantaged communities in such a way ihat they are better able to iden£ify and help meet their needs and to participate more fully in society, in particular (but not limiied 10) in the area of the Ocean Est2te in the London Borough of Tower Hamlets. Our aim is to support residents living on the Ocean Esote by brins4ng together local people and organrsations to address local community needs and to increase the number of people in the area who actively conuibute to making the neighbourhood a cohesive, vibrant communiry. We do this by. Promoting the well-being of local residents: Providing culturally sensi£ive and appropriate provision that meets the needs and Prioriues of all local residents: Fostering social inclusion: Encouraging participauon in the life of the neighbourhood and building a Stronger sense of local idenrity- Promoting the provision of accessible social. recreational. educauonal. healih and cultural facilities within the neighbourhood. Structure The Ocean Regenerauon Trust is a company limited by guardntee and a registered charity. Board members are Directors for the purposes of company law and Trustees for the purposes of charity law. Ocean Regenerauon Trust Annu Reports and finan¢d Statements Year Ended 28 May 2021
The Board is responsible for the overall governance of the organisarton and members have a re5ponsibiliry for ensuring ORT fijlfills its objettives and helps 10 se¢ the ethos and culture of the organisation. The Board dern)ineS the staffing structure and is responsible for the oversight of personnel policie% equal opportunities and health and safery. The Board meets at least four times a year and continue5 to explore opportunirie5 to strengthen the membership and ensure the wides¢ mix of ski115 and experience possible in order to deltver good governance and strong leadership. Each Trustee has agreed to contributs any amouni not exceeding £ l in the eveni of the Charity being wound up. The procedure governing the appointment and recruitmeni of Trustees is laid down in the Memorandum and Articles of Association. The Board comprises 2 minimum of four and a Maximum of16 Trustres drawn frorn two main sources= communiry representatives living in the area of benefit and experrs with spectalist local knowledge. The current Board includes members with a broad rnnge of experiènce, including education. heaithcar< housing, local government and regeneration, as well as experience of other not-for-profit organisations. There is a diversity of gender and ethnic background5 on the Board. All Truscees give their time voluntarily and do not receive any remuneravon. payment or benefits from the charity. Induction of new Trustee5 Most Trustees are tamiliar with the day-to-day work of the Trust prior to being appointed. New Trustees are briefed on their responsibilityes and the Memorandum and Articles of Association and the current Business Plan and are gtven an overriew of recent financial perfornixnce. The Trust's constituuon. financial and operational framework as well as Board members. roles and responsibiliues are also eXplned. External trrining opportunities are provided a5 appropriate. Risk Management The Trustees have a duty to identyfy and review the risks to which the Trust is exposed and ensure appropriate conrrols are in place provide rea50nknle assurdnce againsr fraud and error. We continue to asse55. review. monitor and plan for all rtsks which the organisation may face, now or in the fuwre. Our risk management strntegy comprises a risk register of all aspects of the organisation artd its activitie5. oudining possible risks which may occur. procedure5 Eo mitigation the risks idenufied and regular reassessment both of the risks alrea outlined on the register and of potenual new risks. This process rnises awareness of risk and assists the development of robuK ¢ontingency plans. Covid-19 The Covid_19 global pandemic had a profound impact on many small Communiry and Voluntary organisauons, noi least ORT. The forced temporary c105ure of the Harford Street Multicenire meant thai projett delivery adapted and pivoted to online services and many of the small businesses in Ben Jon50n Road underscored the financiai fragiliry and resulied in LB Tower Hamlets being unable to pay Ehe promised granL% a550ciated with these shops. Thi5 meant difficult decisions had to be taken to reduce stafftng costs and the Trust's plans to take a three-yexr lease on the Harford Communiry Centre had to be abandoned. necessitating a Staff reduction.. The Coronavirus Job Retention Scheme meant that employees were furloughed, while the Trustees considered OPtions to ensure the chariry would continue as a going concern when restrittions ended. Ocean Regeneration Trust knnU Reports and Financ Ststements Y&Y Ended 28 May 2021
Reserves policy ORT 15 committed to using its resources in pursuit of its charioble activities. It is a150 committed to maintaining a level of reserve5 thai is prudent to Me the Trust'5 on-going liabilities. The Board has exarnined the Chariry's requirements for reserves as part of the orsanisational risk assessment and has established a policy whereby unrestricced funds. not Committed or invesd in fixed assets held by the TrusL should be retained to cover three to six months. expenditure for the organisation's staffing and adminisrrative overheads and to effectively meet all its financial and contractual obligations. including redundancy calculations for the current staff team. final audit costs. reni and lease commiunents. This policy is regularly reviewed by the Trusrees to ensure that it contynues w be appropriate and sufficient Activities Report The Ocean Regeneration Trust is focused on the SOCI and economic regeneration of the Ocean Estate. The Trust has been created to hold assets and receive income generdced by the Ocean Regeneration Scheme for the benefi£ of the local communiry. Income from the new shops built during the redevelopment will provide the core funding to sustain the organisation over the longer term. In April 2021. the Council confirnied that the promised financial support authorised by their Grants Deiermination Sub-committee in January 2019 would not be forthcoming. This meanr it wa5 no longer feasible to continue negotiauons to take a three year lease for the Harford Communtty Centre. It also meant that ORTS only confirmed income for the 2020121 financial year and thereafter is the ground rent5 from the Ocean Regeneration Scheme new build leasehold properties. Council grnnts of £342k to support the Trust's core communiry progrdmme over the three years of the Harford Community Centre lease are no longer available. To secure the long rni financial srability of ORT the Trustees agreed that acEiOn musc be raken to redLtce ctsst5 and review how the organisauon is struttured. As a first scep. the Board proposed that the staff team should be streamlined. Stepney Lrfe Centre Since 2015 ORT has wtsrked in parershiP with Ciry Gaieway at the Strpney Lrfe Centre. to support women aged 18+ acr0$5 East London through our dedicated Women's programme, supporting them to learn English. gain independence, grow in confidence, access ernploymeno and develop skills in a supportive community en¥ironmenL During this time. we have seen women from 18 co 81 years of age flourish and thrive. We have also offered supp)rt to their tamilies. eqtsipping them with the parenting skills and Confidence Lhey Deed co give their children a bright future. We are hugely proud of the support we have been able to Ve to women and families from a wide range of culture5 and background. Last year Ciry Gateway's Women's Programmes welcomed over 400 learners from 14 different ethnicities. Our youngest learner wa5 19 and our oldest 81. Welfare Benefft Advice ond Guldance ORT has continued to supporc drop-in welfare and other advice services for the local communiry a£ the Harford Street Mul(icentre. delivered by Limehouse Project (LHP). LHP offers confidential and impartial one-to-one advice. infom)auon and guidance from experL trained advisors in English. Bengali and Somali. The rnnge of social welfare issues they can help with include individual benefit as5e55menrs. welfare benefirs. housing benefii and council tax, debt advice. financial inclusion. better off calculations. domestic violence referrdls. education and vocational training and the European Union SeuJemen£ Scheme. Ocean Regenerdtion Trusi Ann Repcts and Rnn¢iil Staternents Year Ended 28 May 2021
In the face of the Covid-19 pandemic.- LHP'S monitoring data highlighted that families were hit hardest with financial difficulties, mainly due to low income and the loss of jobs. The Advice Service at LHP worked hard throughout the lockdown and responded to the service users by replacing our face to face and drop in service with telephone and virtual supporL A lack of digitai skills and understanding of processes as services trnnsferred online had made the most marginalised residents increasingly more vulnernb5e. There was an increase in the volume of calls to our lePhone help line and an inCr&e in referr215 from partner organisations for supporL ORT provided exrrd SUPPOrt for Ocean residents by funding a specialisi Universal Credit caseworker. The caseworker helped with new claims and hardship paymenty Uniyersal Credit calculations and missing paymenr5. benefit (aps and reduced awards of benefi¢ digital support managing claim5, the UC 50 health quescionnair< and housing cosr disputes and discretionary housing payments. This xdvice became intr&Ing[Y imporrant as C1m5 for Universal Credit reach unprecedented levels. Community Grants A reduction in income meant Ihe 2020121 community programme was limited to supporting Ocean women's participation in spneY Life Centre programmes, Lime house Projett {£7,500) to provide Universal Credii advice 10 Ocean residents affected by the Coronavirus pandemic and to Half Moon Theatre (£16t)O) to coniinue to deliver after-school drama sessions for young people at risk of disengagemenc It was not Possible to offer the community grants to organisations and communiry groups providing services and activities for Ihe Ocean community. This contrxsts with our 2019120 progrnmme. included in the annual repoo when we awarded grants of £156.705 to 22 projecc& Half Moon Young People's Theatre ORT funded Half Moon Young People s Theatre initialty to run after-school drama 5e55ion5 a5 there was a lack of creauve opportunities avBilable for yotjng people to atces5 in the are& This programme ha5 SUPPOrted young people through long tem) intervention, enknling young people to build friendships. confidence and communication sknlls through exploring drama and creauve pracuce. Half Moon delivered 10 in-person sessions. 5 sessions took place at the Harford Street mulucentre. and S were delivered ar Half Moon Theatre. All sessions nVolVed practical physically distanced activities. taking the regularly updated NYA and government guidance inco considerauon. The decision ro conunue delivering sessions in-person was due to the guidance around working with young people considered as vulnerable. 80% of parucipants were iniiially referred Via their school or external agency. identified as those who would benefit from youth acuyity in an out of school setcing. Reason5 for referral include those deerned at risk of disengagement for example. Ic is vid that we continue to offer strucwred. targeted activiry for these vulnerable young people. Outcomes.. l. Provide After School Drdma $ession5 for 15 young people 2. Improve the confidence of parcicipating young people. 3. Improve the communication skills Ocean Regeneration Trust Annu Reports and Financi Ststements Year Ended 28 May 2021
The participants were offered structured opporEunities in a safe space to work together as part of a team. The sknlls explored promote independent thinking and empower young people to think. feel. share. take par¢ and evaluate their ideas in a fun arld creative dy. The projecr was delivered by three Half Moon Theatre prLcutioTrers, a Le2d and Support Tutor along with an acce$5 worker. The access worker enabled a parricipant to benefjt from 1..2..1 support during the sessions. For the first five week5. the group aiso worked alongside a placement Student Irom The Rordl Central School of Speech and Dram Promoting o healthy and 5uPPortive communlty ORT continued to support three vital projects aimed at promoung wellbeing and combating isolation. Harford 50+ Coffee Mornlnr. A weekly coffee morning continued to ntn in parmership with the Harford Health Centre. Link Age Plus and the Tower ProjecL'S Ocean View C2fé. primarily aimed at people over the age of 50 living loclY but anyone living in Tower Hamlers is welcome to attend. The sessions are informal, relaxed. warm and friendly and offer parricipants the opportunity to meet new friends and join in other social acuviiiès. During lockdown, ORT maintained regular contact wi£h the Harford coffee morning parricipants via telephone. in order to combat loneliness and isolation. womenOnty Pilates class: ORT in collaboration with the Ocean Tenants and Leaseholders Assocration {OTLA) runs a women-only Pilates class. The weekly class 15 led by a qualified insrTUCtor and is aimed at women who are returning to exercise after time away or who may Simply want a gender class. Women who attend regularty have reported health benefiL£ including improved flexibility, increased muscle srrength and tone. fewer aches and pains. more energy and greater resilience to stress. During lockdown the Pilates c12SS Pivoted to online delivery and a5 a result we were able to engage not only Mothers bLtt also engage with their children. The lockdown had affected the whole family artd the response very positive with good attendance at the weekly ses5tons. Ocean Walkers: A walking group is open to everyone living and working on the Ocean Estate run in parcnership with Harford Heth Cencre. the Green Light Pharmacy and Walk East CIC. The weekly sessions were led by a qualified vrdlk leader and provide an opportunity for parricipants to meet new people. socialise and explore the area while rhey strengthen their hearL lower their blood Sugdr. ease joint pain. boosi their immune system, improve their mood and burn calories. Some of the participants have trained as walk leaders and now volunteer to lead walk5 themselves. During lockdowns. the walk was put on hold and as an alternative some of the walkers were invited to join the online Pilates class to keep them engaged and motivated. Ocean Ertate Bursary Scheme The Ocean Bursary Scheme uses funding secured through an S.106 contribution from the 438- 490 Mile End Road (Scape East) sEudent accommodauon development to help Ocean residents achieve their Potenti through higher education. OceaTh Regeneration Trust AntI Reports and Fiftanci Stat*nen¢s Year Ended 28 May 2021
Grants of up to £3.Crf)O were ardilable to Ocean residenrs who were staning higher education or studying for a postgrdduate qualification. Prioriry was &ven to students studying at Queen Mary Universicy of London (QMUL) and an account was taken of the circumstances of each candidare. giving special consideration to those less able to afford higher education. Tower Hamlets and Canary Wharf Trust administer the scheme and xward and monitor payments and ORT leads on publici5ing the scheme locally xnd finding Suitable candidates. Nine bursaries were awarded in 2020-2021 Planning for the future Purpose In light of the impatt of Covid and exacerbated needs on the Ocean Estate alongside the redU10n to the LB Tower H21nlets GranL the TrusLee Board wanted to be clear about their purpose in order for this could be communicated to local re5idenrs and businesses. An agreemeni was reached that the Ocean Regenerauon TrusE's role is to support other groups and locxl residenr5 and there was no ambition at this present time be a frontline provider. ORT was established co be a second tier organisation and remains committed co ensuring there is no mission drifL The Trustees are responsible for the charity's vision and mission and if the inrention is for ORT to change direcrion and deliver 5ervice5 directFy. then the scale of anibition would be defined along with the types of services that will be the focus for fundrdising. Next Steps The Board of Trustees agreed to convene during an Away Day and take an active role in the planning and decisions of the Trust's strategic direcEion. financial modelling and recruitment timeline for Ihe new Director. The 2021122 busine$5 plan will be prepared to reflect the decisions taken at the Trustees. away day and any agreement reached with the Council. It remains incumben£ on us to work together in order to attain the best sUIts for the Ocean Estaie and its residenrs. The srrengthening of networks arid sharing of expertise will be more important than ever in the year5 ahead. Trustees, responsibilities in relation to the financial statements The TrusEees (who are also Directors of the Ocean Regeneration Trust for the purposes of company lawl are responsible for preparing the TrLtsEees Report and financial statements Èn accordance with applicable law and UK Accounting Standards. Company law require5 the Trustees 10 prepare financial sr3tements for each year which gtve a true and fair view of the Sta of affairs of the charitable company and of the incoming resources and applicaiion of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements the Trustees are required to.. select suirable 2ccounting policies and then ¥ply them Consisndy- observe the me£hod5 and principles in the Charities SORP.. make iudgements and estimates that are reasonable and prudenL follow applicable accountiftg standards. subject to any material departures disclosed and explained in the accounts-, prepare Ihe financial sratements on the going concern basis unles5 it is inappropriate to presume that the company will continue in operdtion. Ocean Regenerdtyon Trust Annual ReporL% and financ Ststements Year Ended 28 May 2021
10 The Trustees are responsib for maintaining proper accountirE records that disclose with reasonable accuracy at any ume the financial position of the tharitable company and en3ble them to ensure ttmt the acco compty with the Companies Act 21))6. Try are also responsible for safeguardiry the assets of the Charitab company and hence for tsking reasonable steps for the prevaition aThl det[lon of fi7ud and other irregulariries. Approved by 2022 sigrd on its bthalf by Ocean Reletitin Tt xxx
Independent Examiner's Report to trustees of the Ocean Regeneration Trust l report to the trustee5 on my examinalion of the accounls of the above charily ("the Trust") for the year ended 28 May 2021, which are set out on pages 12 to 17. Responsibilities and basis of the report As the charily's twstees (and also the directors of the company for the purpose5 of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the CoTnpanies Act ?006. Hal'ing satisfied myself thai the charity is not subject to audit under company law and is eligible for independenl examinatTon, I have examined your charity's accounts as required under section 145 of the Charittes Aci 2011 ('the Acl.). In carying out my examinalion J hav¢ followed the Directions gjven by the Charity Commission under section 145(5)(b) of ihe 2011 Act. My role is lo statc whether any material matters have come to my attcnlion giving mc cause to believc.. l. that accounting records w¢rc not kept as required by section 386 of the Companies Act 2006; or 2. that the accounts do not accord with those records- or 3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reponing Standard applicable in the UK and R¢public of Ireland" or 4. Ihat ihere is further inf0mtIOn needed for a proper understanding of the accounts. Independent examiner's ststement I have completed my examination and I have no concern5 in respect of any of the matters (l) to (4) listed above and in connection H'iih following the Directions of the Charity Commission I have found no matters that require drawing to your attention. f T P J WHEELER Chartered Accountant 24 Dukes Wood Avenue Gerrards Cross Buckinghamshire February 2022 Ocean Regenerdtion Trust ATrrbI Reports and Fir¥ncl Statemer4ts Year Ended 28 May 2021
12 Ocean Regeneration Trurt- Year Ended 28 May 2021 StatemeTrt of Financial ACUe$ {including Income and Expenditure Account) UntrICted Resrricted Funds Funds Total 2021 Toral 2020 Notes Incoming Resources Grants donations Ground Rents Other 80.LNXJ 117.949 4,354 118.682 11587 118,682 12.587 Total Incoming Resources 131,269 131.269 201303 Resources Expended Salarie5 ana consJlTan(s' lees Office running costs Governance Training and Recruitment IT 2nd Website In$urdncÈ Subscripaon5 Depreciation Projec Granrs Harford Community Centre 57.721 423 1152 132 1.849 413 300 366 87.994 57.721 423 2.152 132 1.849 413 77.769 794 1,102 706 1.435 323 384 489 96.406 60,298 25.475 366 87.994 15.073 15.073 Tot Resources Expended 166.423 166.423 265,182 Net Incomsng (Outgoing) Resources for the year (35.1541 {35,154) (62.8791 Total Funds at 28 May 2021 136.304 136.304 199.183 Total Funds at 28 May 2021 101,150 101.150 136.304 TRUSTEES No trustees received remuneration in either the curreni period or prior year. No trustees were reimbursed expenses in either the current period or prtor year. Ckean Regeneration Trust Ann Reports and Financial Statts Year Ended 28 May 2021
lthrrt• kn •• •[ ?• 2021 Tot1 Tanbl• lu 12 6.978 156.0% .754 163m4 1672CiI 13 (6Jm3) (3U61) I.051 134J39 101.150 101.150 101.150 cs were apFYty•d
14 Ocean Regeneration Trust Notes to the financial statsmenrs for the year ended 28 May 2021 Accounting policies 1.1 Basis of preparatio The accounrs were prepared under the historic tost conventton. The accounTS have been in actordance with rhe Statemenr of Recommended Prattice- Accounting and Reporring by Charitie$12015 SORP). applicable accounting standards and th¢ Companies Att 2006. 1.2 Grants receivable Grants for which fvndsng levels have been agreed and for which fvnds have not been received at the year eno. have beeN accrued for. AmounLS recer¥ed before the year end that relate to expenGiwre iii the lollowing year have been deferred in accordance with donors. resrric(ion5. Grants. including grants for the purchase of fixed assets, a recognised in fijll in the Statement of rinancil Activities In the year in whith they are receivable. 1.3 Re$ourees expended Resources expendeo are induded in the Statement of Financiil Acvvities on an accruals basi$. The charity 15 lloE registered for VAT and accordingly expenditure includes VAT where appropriate. Governance costs include those costs associared with meetyng the constiujtional and statutory reguiremen.ts of ttie charity and include costs linked EO rhe strategic management of the charity. 1.4 Tangible itxed assets and depreciation Taii8iole fixeo assets are stated at cost less depreciation. Assets over £ICh) are capI1$ed. Depreciation is provided at rares calculated EO Wr[ off the cosfs less e5tirnated residual value of eacn Se( over its expeaed useful life as follows-. Computer equipment 25% of cost per year 20% of cost per year 1.5 Fund accounting Unreslricieo .unds are donations and other r850urces receivable or generated for the objects of the charity without further specific purpose and are available Ls gene funds. e>t."Ictea '.dnGs are used for specffic purposes a5 laid down by the donor. Expenditure which meets these triteria is charged to the fvnd. together with a lOCatiOn of managernent and 5ugporc Costs. Ocean Regeneration Trust ATrnu31 Reports and nar Statements Year Ended 28 May 2021
15 Ocean Regeneration Trust Nore5 to the financial st2temeftts for the year ended 28 May 2021 Grants and donations 2021 2020 London Boroijgh of Tower Hamlets Granr SOCiated with the ret3il ufiits on the south side of Ben Jonson Road 80.000 Ground Rents Amoun£s receivable from the London 8orou8h of Tower Hamlets relating to the market sale of new build properries delivered as part of the Ocean Regeneration Scheme. Other Reimbursement of expenw {£1.176). HMRC Ii)b Retention Scheme Grani l£11.4111 Salaries and con$ultants fees 2021 29.700 19.664 6.605 1.752 2020 48.124 20.448 7.348 1.848 Consultants. fee5 Salaries Social Security costs Pension 57.721 77.769 There one 0.8 full time equirdlent member of staff employed during the year. Governance 2021 2020 Legal and professioftal fees Audit and 3ccountancy Comp2nies House I ruslees rr31ning DBS check5 1.215 13 1.089 24 1152 1.102 Projert costs ORT w¢)rk5 in partnership with City Gateway to support a project ro promote and deliver services and activttye5 from the Harford Street Multtcentre tsrgevng women and tarnilies liwng on the O¢eaTt Estste and surrounding aret ORf5 conrribution tovrards the running costs in 2020121 was £77,108. The projett 15 branded as the Stepney Lrfe Cenrre and a joint steering group has overall resporisibilicy Tor strateiy. priorities and perforniance. Oce3n Regeneration Trust Annual Reports atHI FInarK1 Sratements Year Et)ded 28 May 2021
16 ORT supported Lirnehouse Projett in providing weKare and benefits advice to Ocean resi(lents by funding a Universal Credit caseworker to prowde specil$t advice and suppon to Ocean residenr5 who are Universal Credit c13imants. ORT funded Ihe Half Moon Theatre to deliver After-school Drama sessions aimed at stspponing young people considered as vulnerzble through long tertn InrYeOfi, enabling partictpant5 to build friendships. confidence and communicatror skills through exploring drama and creauve pracuce. Community grants paid To er.courage engagement with community 0uP& and organisatyons working on the Ocean Estate. ORT runs an annual community 8ranrs programme Ifdndrng permirring)- This enables the Trust to develop an overnew of the contribution the different groups and organisations make to the social and economc regenerarion of the area and to develop pkn5 for tre collaboration. 2021 Bangiadesn, eatal .e31th Forum Ben jonson Primary School Brenrier Centre aE Stepney Jewish Community Centre Emmott Close Sentor Citizèns. Club Half Moon Theatre Inventors Club inLfi0kn5e leif&-e Association LliikAa-e rius Oce3n iomali Comtnunity Ass(KiauoTr {OSCA) Ocean Tefldf.ts Leaseholders Association IOTLAI Ocean s Association Oceaii Youik, Conr.-xions Raggeo Siocoi Musedm So Sié)ney i enants and Resbdenrs Association Srep41ey City Farm Stepney Sail 2Don Army Tower H.mlers hOCKey Club 2020 3,500 850 1000 1600 4.970 3,600 4,998 1.500 5.000 3.000 1500 5.000 1.500 5,IXJO 5.000 1280 60,298 Haitord Community Centre Expersdibjre incurred in connectron with the employment of a Communiry Centre Manager lor the benefi- o,. Crie Harfo..d Community Centre. 10. -rangii?le fiAtd assets Cost Or Vaioaoon I lay 1040 Addiuons Disp?£als pi_*iauoil COmpur eqUipMr 1.465 (366) 1.099 Ocean RegenerdEicn TrusE ATrryu Report5 and RnanCI Statements Year Ended 28 May 2021
17 I l. Debtors £6,97812020_. £80,754). £914 due from HMRC for May 2021 lob Retention kheme Gr4nL £6,064 being the prepayment of the Stepney Life Centre rent to City Gateway. 12. Creditors £63,023 (2020.. £32.360). £1.369 due to the Interim Director to reimburse expenditure on stationary, IT and Companies House. £59.421 due to LB Tower Hamlets for unpaid rent for the Stepney Life Centre. £2.200 due for May consulTancy p3id lune provided by the Interim Direttor. £33 due to AGM 5erwces for May 2021 payroll services. Ocean Regeneration Trust Annual Reports 3nd nal*j Ststements Year Ended 28 May 2021