Company Registratlon Numbor: 8189686
Charlty Registration Number: 1152468
OAKLEY VALE COMMUNITY CENTRE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
3111 MARCH 2023
Oakley Vale
Communitu Centre

ORGANISATION INFORMATION
Company Registration Number:
(Company regist8r8d on 23 August 2012)
8189686
Charlty Reglstratlon Number..
(Charity registered on 18 June 2013)
1152468
Registored office:
20 Butland Road
Corby
Northamptonshire
NN18 8JF
Communlty Centre addre88:
20 Butland Road
Corby
Northamptonshire
NN18 8JF
Board of Truste￿.
Peter Moden
Judy Caine
Trevor Conway
Steven Lambert
Colin Gibbs
Chair
Secretary
Treasur8r
Vlce Chalr
Trustee
Commlttee Members:
Yasmln Checkley
Sue Soulder
Paul Balmer
Mary Lambert
H8nry Oblie
Resignations from tho board:
December 2022
Andrew Farrington
Vice Chair
Bankars:
HSBC, Corby
Ind8pendent Examlner:
Chris Godbold

OAKLEY VALE COMMUNiff CEKfRE
INDEX
Report of the Board of Trustees
Responsibilities of the Board of Trustees
Report of the Independent Examiner
Accounting Poliaes
Statement of Financial Activitiès
Notes to the Financial Statements
Balanc£ Sheet
10

OAKLEY VALE COMMUNrrY CENTRE
(A Company Limited by Guarantee)
Page 1
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2023
The members of the Board of Trustees of Oakley Vale Community Centre (OVCC) present their
report together with Financial Ststements for the year ended 31 March 2023.
Structure and Gov•manco
OVCC is a Company Limited by Guarantee. having no share capital. It became a registered
charity on 18 June 2013. Trustees operate under its Memorandum and Artlcles of Associatlon.
The tsntre conb'nues to be managed by a part-b'me paid centre manager {15 hours per week) and
2 part-time paid caretak6rs - one working evenings. and the other covering the weekends.
In addition to the above the Board of Trustees oversees all aspects of the centrè and currently {as
of 3181 March. 2023) consists of 5 Trustees, and 5 committee m8mbers. The trustees can
nominate Trustees I committee members as they see fft. Having extrd commrtiee members to take
on event-organising roleslpublicity etc. has been of great value to the centre.
Usage hours at the centre remain cyjnstant but there are still at least 40 hours that could be let out.
This is a priority for us over the next 12 months with all Trustees and committee members actively
promotlng the centre.
We dSd not anticipate in our last annual report receiving a grant from the council this year but in
fact we did. This was due to pressure from all the communty centres in the town, none of whom
felt they could yet survive without this having just come out of the pandemic and with the
increased cost of living - especially in relation to energy bills.
We also received a very specific grant to e8tsblish a communlty café ar8a in the centre which
existing users want, which has attracted new users and has started to makè thè ¢entre feel like a
real hub within the community.
Objeetlvos
The Objects of OVCC are:
To estsblish, or secure the estsblishment of, a communty centre to benefft the residents In the
Borough of Corby and th8 neighbourhood and to maintain. manage and coop8rat8 With any
statutory authority in the maintenance and management of such a centre without distinction of
sex, sexual orientation, race or polits'cal. religious or other opinions by association.
To advance education and to provide facAlits'es in the interests of social welfare for re¢￿atIOn
and lelsure-time occupation with the object of improving the h8allh and wellbelng of the
r8sidents in the Borough of Corby and the neighbourhood.
To promote SUGh purposes as are charitable according to the laws of England and Wales for
the benefit of the public as may from time to time be detemiined. The Company shall be non-
party in politi￿ and non-sectarian in religion.
We meet thesè objectives through the effective operation and management of the Community
Centre, its use as a communty faality and by events that we run to supplement those organised
by others. These events will be mainly aimed at C(xnmunity Development and Cohesion.

OAKLEY VALE COMMUNITY CENTRE
{A Company Limited by Guarantee)
Page 2
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2023
Publi¢ Ben8fft
Oakley Vale is a new development area with over 3,500 new homes built. Most residents are new
to the Corby area with only about 60 % being Whit8 British. Th8r8 are 17 differant first languages
being spoken at the Primary Schools.
Having now secured a number of activities regularty occurring at the Centre, we are now looking at
gaps in provision and supporting and encouraging organisations to put on activities to fill the gaps.
Particular emphasis on this work is to support community development I cohesion activities on the
Oakley Vale estate, social engag8m8nt and mental health and well-being following the pandemic.
The public benefit will come from having a well used community faality. the benefit from the users,
activities and from the activities run by OVCC.
Actlvltle•
Our main activity has been the running of the Centre and this year planning of a large community
celebratlon for our 10th blrthday In July 2023. The Centre Contlnues to be used durlng the day
and evening 7 days a week on most Weeks and there is some activity every week of the year.
The range of activities book8d is extensive and, in t8nii time, th8 building is In use during the day
and evening 7 days a week. There is availability for use of the building for daytime activities on
weekdays and for parties at weekends.
We contlnu8 to communicate with th8 Oakl8y Vale community through th8 Community Associatlon
meetings and have this year established greater ties be￿een our two groups.
We continue to asslst thé football clubs through th8 period before changing rooms are bullt.
We have invested in the building through Improvements and contlnue to benefit from having PV
Panels through reduced purchased electricity costs and income from the Feed-in-Tariff. In
addilion, our chair undertook a major review of all our servlce providers- gas, electricity, phone,
intemet and building maintenance and secured for us better deal for all saving us hundreds of
pounds each year.
Achlevements and Perfomiance
A Business Plan has been approved for 202314 which contains a number of objectives and
progress In attalnlng them. Income & Expenditure are monitored at each Board Meetlng.
The monitoring required by North Northants Council, under the service level agreement for the
grant, was collectad and provided.
Now being out of COVID-19 restrlctlons we were able to relnstate our carols 8round the centr8
Christmas tree in December 2022 with the local school choirs and residents. The event was
huge success, and we look forward to once again making it an annual event.
The main achievement is the continuing operation of the Communty Centre, achieving smooth
operation of the Centre. getting its usage to a high level and reaching the target level of reserves.

OAKLEY VALE COMMUNITY CEKfRE
{A Company Limited by Guarantee)
Page 3
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31￿marCh 2023
Flnanclal Revlew
A surplus of £7,386 was achieved in 2022123 {£2.109 in 2021122). Our reserves are currently
£55.718
Havlng increased hire rates last year due to the cost-of41ving crisis, especialty energy prices. we
have decided to keep our hire rdt88 at the current level but to increase our deposit for one off
bookings.
Our cash flow has remalned positive with deposits held and pa￿ent required in advance. There
have b88n vèry few issues with payments. none of which resulting in bad debts. Bills are paid
promptly.
Rlsk Assessment
The Board does not believe it is subied to any substsntial risk beyond the liabilities disck)sed in its
Annual Report and Accounts. The Business Plan has been prepared to mitigate any risks.
Th8 organisation has publlc, employer and professional Indemnlty Insurance to prot8Ct it in the
event of a claim.
Reserves and Investment Poll¢le8
Th8 Board's intent is to achieve a reserve of 6 months operating costs and replacement of
fumiture and equipment every 10 years on average as and when necessary.
All reserves are unrestricted. with the excoption of £266 whith remains from a grant received from
North Northamptonshire Council for the purpose of celebrating the King's Coronation. It Is
anticipated that this money will be spent in accordance with the grant conditions during 2023124.

OAKLEY VALE COMMUNITY CEKfRE
{A Company Limited by Guaranloe>
Page 4
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3111 March 2023
STATEMENT OF RESPONSIBILMES OF THE BOARD OF TRUSTEES
Company law requires the members of the Board of Trustees to prepare financial ststements for
each financial year which give a true and fair view of the state of affairs of the company and of the
incorne and expenditure of the company for that period. In preparing those financial statements,
the members of the Board of Trustees are required to:
select suitable accounting poliaes and then apply them o)nsist6nty.
make adjustments and estimates that are reasonable and prudent.
prepare the financial statements on the going concem basis unless it Is inappropriate to
presume that the company will continue its activities.
The members of the Board of Trustees are responsible for maintaining proper ac¢ounting records
which disclose with reasonable accuracy at any time the financial position of th8 company and to
enable them to ensure that the financial statements comply with the Companies Act 2006. They
have a general responsibility for taking such steps as are reasonably open to them to safeguard
the assets of the company and to prevent and detect fraud and other Irregularities.
SIGNED ON BEHALF OF THE BOARD OF TRUSTEES
P8t8r Moden- Chalr of Trustees
Date:

INDEPENDENT EXAMINER'S REPORT TO ThE TRUSTEES AND MEMBERS OF THE
OAKLEY VALE COMMUNITY CENTRE
Registered Charity No. 11524681En8land & Wales)
Company Reglstration No. 8189686
Page 5
I report on the accounts of the charlty and company for the year ended March 31, 2023, which are
set out in attached pages 8 to 12.
Respectlve respon51bllvties of the trustees and examlner
The trustees (who are also the directors of the company for the purposes of company law) are
responsible for the preparatlon of accounts in accordance with the requirements of the
Charities Act 2011. This Act provides for the accounts to be audited or, at the discretion of the
trustees and subject to the charity's gross income for the year concerned, to be subject to
Independent examfnatlon. The trustees have determined that, for this year, the accounts should be
Independently examined.
Having been appolnted by the trustees to examine the accounts, it is rny responslbfillty to examine
these under section 145 of the Act and - in carrying out that examlnatlon - to follow the appllcable
directions given by the Charity Commission under section 14515) (b) of the Act.
Basls of Independent Examfner's Statement
My examlnatlon was carrled out In accordance with the general directions glven 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 conslderatlon of any
unusual items or dfsclosures of the accounts and seeking explanations from the trustees concerning
any such matters. The procedures undertaken do not provide all the evldence that would be
required in an audit and consequently no opinion Is given as to whether the accounts present a 'true
and falr, vlew. The report Is Ilmlted to those matters set cxrt In followlng statement.
Independent Examlner's Statement
In connectlon wlth my examlnatfon, no matter has come to my attentlon:
whlch gives me reasonable cause to believe that In any material respect the requirements:
to keep accounting records in accordance wlth the Companles Act 2006 and
to prepare accounts whSch accord with the accounting records, comply wfth the
accounting requirements of the Cornpanies Act 2C4)6 and with the methods and
princlples of the Statement of Recommended Practice, Accounting and Reporting by
Charities
have not been met; or
to which, in my opinion. attention should be drawn In order to enable a proper understandlng
of the accounts to be reached.
(signed by)
Chris Godbold
5 Home Farm Close, Great Oakley, CORBY, NN18 8HQ
January 30. 2024

OAKLEY VALE
IA Company Llmited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 6
PRINCIPAL ACCOUNTING POLICIES
The financial statements of the Charitsble Company, which is a public benefit entity under FRS 102, have been
prepared under the historical cost convention and in acCOrdar￿ with the Companies Act 2CIJ6 and the
Statement of Recommended Prdctice SORP IFRS102) issued l ° Ortober 2019, applicable UK Accounting
Standards and the Charities Act 2011 •
Format
The company has taken advantage of the provisions of the Companies Act 21)J6 and presented an income
and expenditure account in the forni of a statement of financial artiwties on the 8roundsthat It enables the
flnancial statements to show a tnje and fair view of the result for the perlod.
The principal accounting policles of the company are set out below.
Incomlng Resources
Voluntary Income
Voluntary income, includln8 donations, legacles and grants that provide core funding or are of a
general naturearerecognised wherethere isentitlement, ￿rtaInty0f receipt andthe amount can be
measured with sufficient reliability.
Investment Income
Interest is brought into account on a receivable basis and dNidend income on a recelved ba51s.
Income from Charitable Artlvttles
Income from charitable attivities includes Income ￿Ceived under contract or where entrtlement to
grant funding15 subjectto specific performance conditions is ￿COgnised as earned. Grant income in
thls cate80ry provides funding to support perfonnance activities and is recognised where there Is
entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Resources Expended
Expendlture Is ￿COgnised when a liability is Incurred.
l . Costs of Generating Funds are those costs incurred in attracting voluntary Income.
Charitsble Artlvitles include expendlture associated with direct services and membership
support.
Governance Costs include those incurred in the governance of the charityand its assets and are
primarily associated with constitLrtional and statutory requirements.

ANNUAL REPORT AND FINANCIAL STATEMENTS
Pa8e 7
PRINCIPALACCOUNTING POUCIES
Allocation of Costs
Costs are allocated to functional headings on the basls of dlrect costs plus overheads on a fair and
reasonable estimated basis.
Investments
There are no investments at present.
Leased Assets
Payments made under operatlng leases are charged to the income and expenditure account on a stralght-llne
basis over the lease term. There are currently no leased assets
Tangible Fixed Assets and Depreciation
Depreciation is calculated to write down the cost of all tangSble flxed assets by Instalments over the
expected useful lives. The dlrectors have Set a materiality lever of E5k per individual item under which no
purchase wlll be capitalised. Specific policies are as follows:
Computers and short Sife assets 2 3 years straight method Long life
assets 5 - 10 years stralght Ilne method
At present the charity has no flxed assets.
VAT
OVCC Is not re8lStered for VAT.
Fund Accountlng
Funds held by the charlty are elther..
wlth the charltable objects at the dlscretlon of the Executlve Committee.
Designated Funds - these are fund5 Set aside by the Executive Commlttee out of unrestricted
funds for specific future purposes or projects.
Restricted Funds
these are fund5 that can only be used for partlcular restricted purposes wlthln
the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for
particular restrlcted purposes.
Further explanation5 of the nature and purpose of each fund is included in the notes to the financlal
statements.

OAKLEY VALE COMPIUNITh CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 8
FOR THE YEAR ENDED 31*1 March 2023
STATEMENT OF FINANCIAL ACTIVITIES
NOTE
2023
2022
INCOME
HSre Income
GTrnls
Fundralsln
Bank interest
Misc
Total Incom•
£30 896
£4,165
£16,095
£1.145
£33
£590
£53 609
£54
£1,929
EXPENDITURE
Em
lo ment Costs
2023
£15 932
£8.194
£7,917
£1.041
£200
2022
£13 883
of Promlse8
Insurance
Rates
Accountanc Feès
Centre Aclivilles
ment
Centre Mana
Miscellaneous
Hire De
oslt Retums
Total Ex ndttur•
£4.613
£4,181
£0
ement
£280
£991
NOTE8
2023
£12,495
£400
2022
Premises Grant8
Kin
s Coronation
Coffoe Machine
Warm Hub
£200
Total
£16 095
All grants were recglved from North Northamptonshlre Council and that for the King's Coronation was rgslrfctod.
Thè av6rag8 number of full-tlmè equlvolenl employees In the year w88 1 12022.'1)
No employee earn8d In excgss of £60,000 durtng the year.
This is the cost of the coffee machine. partly pald for by the grant from NNC
With eff8Ct frcsm 2023, monays rèturned to hirers for any re880n lincluding tho retum of deposits) are
deducted from thè value of Hire Income, to 9ive 8 net figure for Income from thls 50urG¢.
There aro no fixed as8ets.
Debtors
2023
2022
Prepayments and accrued
income
£1,088
£1,758

OAKLEY VALE COMMUNrrY CENTrE
IA Company Limsted by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 9
FOR THE YEAR ENDED 31At March 2023
STATEMENT OF FINANCIAL ACTMTIES (contlnuod)
Ca8h at Bank and In Hand
2023
2022
HSBC Current Account
Scottish Widows
Pett Cash
rotal
£55.368
£0
£350
£55 718
£5.731
£42,435
£50
Credltorn: amount8 falllng duo wtthln 1 year
2023
£200
£1,444
2022
£956
£7,242
Other Creditors
AcctU819 and deferred income
Total
Restrlct•d Funds
All r8S8rves Sre unrestricted. vAth the exception of £266 which remains from a grant recelved from
North Northamptonshire Council for the purpose of celebralng the Klng's Coronation. It is
anticlp8ted that this money will be spent in accordance with the grant conditions during 2023124.
Sharo Capltal and Mombors, Uablllty
The company is limited by guarantee and does not h8ve a share caprtal
Every member of the company undertakes to contribute to the assets of the ￿Mpany, in the event
of it being wound up while helshe is a trustee or within one year afterwards, for payment of the
d8bts and Ilatylities of the company. charges and expenses of winding up and for the adjustment of
the rights of contributories among themselves, suth amounts as may b8 required not exceeding £1
Ultlmata Controlllng Party
The charity is under th8 ultlmate control of the trustees the names of whom are shown at the front of
these accounts.
10
11

OAKLEY VALE COMMUNITY CENTrE
(A Company Llmlted iry Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 10
FOR THE YEAR ENDED 31•t March 2023
BALANCE SHEEr rrhe nol06 on pages 8 and 9 fomi part of these financlal statements)
Flxed As80ts- nll
2023
2022
Current assets
Debtors
£1.088
£1. 758
Cash at Bank and In Hand £55,718
£48.216
Total CurrentAss8ts
£56,806
£49,974
CREDITORS: Amounts
falllng withln one y•ar £1.644
N•t Currnnt Assot•
£54,812
(£2, 198)
(£47, 776)
(£47,776)
N•t a$sot•
£55,162
For the year endln8 March 31, 2023, the company was entitled to exemptlon from audlt under
Section 477 of the Companles Art 21Jl6.
The dlrertors acknowledge thelr ￿SPonSIbl11t{es for:
the members have not ￿QuIred the company to obtain an audlt of Its ￿COUnts for the year
In question in accordance wtth section 476
the dlrectors acknowledge thelr responsibilitles for comptydng wlth the requlrements of the
Act wlth respect to accountlng records and the preparation of accounts
these accounts have been prepared in attordance with the provisions applicable to
companies subjert to the small companies. regime.
The accounts have been prepared In accordance with the special provlslons relatlng to small companies wlthln the
Companies Art. 2￿6.
The financial ststements were zpproved and authorised for issue by the Board on January 31. 2023.
Signed on behalf of the Board of trustees
Peter Moden Director/Chair