Company Registration Number: 8189686
Charity Registration Number: 1152468
OAKLEY VALE COMMUNITY CENTRE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31st MARCH 2024
Oakley Vole
Communitu Cenire

ORGANISATION INFORMATION
Company Registration Number:
(Company registered on 23 August 2012)
8189686
Charity Registration Number:
(Charity registered on 18 June 2013)
1152468
Registered office:
20 Butland Road
Corby
Northamptonshire
NN18 8JF
Community Centre address:
20 Butland Road
Corby
Northamptonshire
NN18 8JF
Board of Trustees:
Peter Moden
Judy Caine
Trevor Conway
Chair
Secretary
Treasurer
Committee Members:
Yasmin Checkley
Sue Soulder
Paul Balmer
El￿en Phipps
Phil Proctor
Bankers:
HSBC, Corby
Independent Examiner:
Chris Godbold

OAKLEY VALE COMMUNITY CENTRE
INDEX
Report of the Board of Trustees
Responsibilities of the Board of TrUSt￿S
Report of the Independent Examiners
Accounting Policies
Statement of Financial Activities
Balan￿ Sheet
Notes to the Financial Ststements
10-12

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31StMarch 2024
The members of the Board of TrUSt￿S of Oakley Vale Communrty Centre (OVCC) present their
report together with Financial Statements for the year ended 31 March 2024.
Page 1
Structure and Governance
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 Articles of Association.
The centre continues to be managed by a part-time paid centre manager (15 hours per week) and
2 part-time paid caretakers - one working evenings, and the other coveting the weekends.
In addition to the above the Board of Trustees oversees all aspects of the centre and currently (as
of 31 St March, 2024) consists of 3 Trustees, and 5 committee members. The trustees can
nominate Trustees I committee members as they see fft. Having extra committee member to take
on event-organising roleslpublicty etc. has been of great value to the ￿ntre.
Usage hours at the ￿ntre remain constant 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
promoting the centre. Hours have this year been the highest ever, at one point being 52.
We also received 3 very specific grants as below:
1 . From the local council for general running costs of the ￿ntre
2. From the local council to continue running our 'wam hub, communty café. This has
attracted new users and has started to make the centre feel like a real hub within the
community.
3. From the local council to help fund our annual 'Oakley Fesf famity fun day.
Objectives
The Objects of OVCC are:
To estsblish or secure the establishment of, a communty ￿ntre to benefit the residents in the
Borough of Corby and the neighbourhood and to maintsin, manage and cooperate with any
statutory authority in the Maintenance and management of such a centre without distinction of
sex, sexual orientation. ra￿ or political, religious or other opinions by association.
To advance education and to provide facilities in the interests of social welfare for recreation
and leisure-time occupation with the object of improving the health and wellbeing of the
residents in the Borough of Corby and the neighbourhood.
To promote such purposes as are charitable according to the laws of England and Wales for
the benefrt ofthe public as mayfrom time to time be determined. The Company shall be non-
paty in politics and non-sectarian in religion.
We meet these objectives through the effectNe operation and management of the Community
Centre, its use as a community facility and by events that we run to supplement those organised
by others. These events are mainly aimed at Communty Development and Cohesion.

OAKLEY VALE COMMUNITY CENTRE
{A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 318tMarch 2024
Page 2
Public Benefit
Oakley Vale is a new development area with over 3,750 homes built. Most residents are new to
the Corby area with only about 60 % being White Brttish. There are 17 different first languages
being spoken at the Primary Schools.
Having now secured a number of activities regularly 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 communty development I cohesion activities on the
Oakley Vale estate, social engagement and mental health and welkbeing following the pandemic.
The public benefit will come from having a well used communrty facility, the benefft from the users,
activities and from the activrties run by OVCC.
Activities
Apart from day to day running ofthe Centre hosting a variety of communrty sporting, dance and
other activities and our weekly wann hub cafe we have now established 4 events per year that
residents look forward to:
1. Oakley Fest family fun day (July)
2. Macmillan Coffee Moming (September)
3. Carols Round the Tree (December)
4. Christmas Fayre (December)
The Centre continues to be used during the day and evening 7 days a weeks although not all
groups run during the school holidays. The range of activities booked is extensive and there is
availability for use of the building for daytime activities on weekdays and for parties at weekends.
We continue to communicate with the Oakley Vale communty through the Communty Association
meetings and have this year estsblished greater tEs belween our two groups.
We continue to assist the football clubs through the period before changing rooms are built.
We have invested in the building through improvements and continue to benefrt from having PV
Panels through reduced purchased electricty costs and income from the Feed-in-Tariff. I n
addition, last yearfs review of all our service providers - gas, electricity, phone, internet and
building maintenance - has saved us hundreds of pounds this year.
Achievements and Perforniance
A Business Plan has been approved for 202415 which contsins a number of objectives and
progress in attaining them. Income & Expendsture are monitored at each Board Meeting.
The monitoring required by North Northants Council. under the Servi￿ level agreement for the
grant, was collected and provided.
The main achievement is the continuing smooth operation of the Community Centre and the
beginnings of it feeling like a real communrty hub. Usage fluctuates but the general trend is
upwards.

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31StMarch 2024
Page 3
Financial Review
A surplus of £7,256 was achieved in 2023124 - following a minor prior year adjustment (£7,386
was achieved in 2022123).
Due to the continuing cost-of-INing crisis, especially energy pri￿s. we decided to keep our hire
rates at the current level but as year4nded 2023 have increased our deposit for one off bookings.
Our cash flow has remained positive with deposits held and payment required in advance. There
have been very few issues with payments. none of which resulting in bad debts. Bills are paid
promptly.
Risk Assessment
The Board does not believe it is subject to any substantial risk beyond the liabilities disclosed in its
Annual Report and Accounts. The Business Plan has been prepared to mitigate any risks.
The organisation has public, employer and professional indernnity insurance to protect it in the
event of a claim.
Reserves and Investment Policies
The Board's intent is to achieve a reserve of 6 months operating costs and replacement of
furniture and equipment every 10 years on average as and when necessary.
Our reserves currently stand at £62.418.

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 4
FOR THE YEAR ENDED 31StMarch 2024
STATEMENT OF RESPONSIBILITIES OF THE BOARD OF TRUSTEES
Company law requires the members of the Board of Trustees to prepare financial statements for
each financial year which give a true and fair view of the stste of affairs of the company and of the
income 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 policies and then apply them consistently.
make adjustments and estimates that are reasonable and prudent.
prepare the financial statements on the going con￿rn basis unless rt is inappropriate to
presume that the company will continue its activities.
The members of the Board of Trustees are responsible for maintaining proper accounting records
which disclose with reasonable accuracy at any time the financial position of the 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
Peter Moden- C
air of Trustees
Date..

INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES AND MEMBERS OF THE
OAKLEY VALE COMMUNITY CENTRE
Registered Charity No. 1152468 (England & Wales)
Company Registratlon No. 8189686
I report on the accounts of the charity and compary for the year ended March 31, 2024, which are
set out in attached pages 8 to 12.
Respectlve responsibilities of the trustees and examiner
The trustees {who are also the directors of the company for the purposes of company law) are
responsible for the preparation of the accounts in accordance with the requirements of the Charitles
Act 2011 . This Act provides for the accounts to be audited or, at the discretion of the twstees and
subject to the charity's gross income for the year concerned, to be subject to independent
examination. The trustees have determined that, for this year, the accounts should be independently
examined.
Having been appointed by the trustees to examine the accounts, it is my responsibillty to examine
the accounts under section 145 of the Art and - in carying out that examination - to follow the
applicable directions given by the Charity Commission under section 145 {5) (b) of the Act.
Basls of Independent Examiner's SLitement
My examinatTon was carried out In accordance with the general directions given by the CharTty
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 of the accounts and seeking explanations froffl the trustees conceming 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 pr*nt a 'true and fair. view.
The report is limited to those matters set out in the fotlowing statement.
Independent Examiner's Statement
In connertlon with my examination, no matter has come to my attention:
1. Which gives me reasonable cause to belleve that in any materlal respect the requirements:
to keep accounting records in accordance with the Companies Act 2006 and
to prepare accounts which accord with the accounting records, comply with the
accounting requirernents of the Companies Act 2COS and with the method5 and principles
of the Statememt of Recommaxled Prartice. Accounting afKI Reporting by Charities.
have not been met- or
2. to which, in rny opinion, attention should be drawn in order to enable a proper understanding of
the accounts to be reached.
Chris Godlx)Id
5 Home Farm Close, Great Oakley. CORBY, NN18 8FKI
January 17. 2025

OAKLEY VALE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 6
PRINCIPAL ACCOUNTING POLICIES
The financial statements of the Charitable Company, which is a public benefitentity under FRS 102, have been
prepared under the histortcal cost convention and in accordance with the Companies Act 2006 and the
Statement of Recommended Practice SORP (FRS102) issued l ° October 2019, applicable UK Accountin8
Standards and the Charities Act 2011 '
Format
The company has taken advantage of the provisions of the Companies Act 2006 and presented an income
and expenditure account in theform of a statement of financial activities on the groundsthat itenablesthe
financial statements to show a true and fair view of the result for the period.
The principal accounting policies of the company are set out below.
Incoming Resources
Voluntary Income
Voluntary income, including donations, legacies and grants that provide core funding or are of a
general nature are recognised where there is entitlement, certainty of receipt and the amount can be
measured with sufficient reliability.
Investment Income
Interest is brought into account on a receivable basis and dwidend income on a received basis.
Income from Charitable Activities
Income from charitable activtties includes income received under contrart orwhere entitlementto
grantfunding is subjecttospecific performance conditions is recognised as earned. Grant income in
this category provides funding to support performance activities and is recognised where there is
entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Resources Expended
Expenditure is recognised when a liability is incurred.
l . Costs of Generating Funds are those costs incurred in attrdcting voluntsry Income.
Charitable Activities include expenditure associated with direct services and membership
support.
Governance Costs include those incurred in the governance of the charityand its assets and are
primarily associatèd with eOnsttt￿1Dft3I and statutory reouiremènts.

ANNUAL REPORT AND FINANCIAL sfATEMENTS
Page 7
PRINCIPAL AccouTrinNG POLICIES
Allocation of Costs
Costs are allocated to functional heading5 on the basis of direct costs plus overheads on a fair and
reasonable estimated basis.
Investments
There are no Investments at present.
Leasea Asse[5
Payments made under operating leases are charged tothe income and expenditure account on a straight-line
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 tangible fixed assets by instslments over the
expected useful live5, The directors have set a materiality lever of E5k per individual item under which no
purchase will be capitalised. Specific policies are as follows:
Computers and short lifr assets 2 - 3 years straight method Long life
assets 5 - 10 years strdight line method
At present the charity has no fixed assets.
VAT
OVCC is not registered for VAT.
Fund Accounting
Funds held by the charity are either:
with the charitable objects at the discretion of the Executive Committee.
Designated Funds
these are funds set aside by the Executive Committee out of unrestricted
funds for specific future purposes or projects.
Restricted Funds
these are funds that can only be used for particular restricted purposes within
the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Further explanations of the nature and purpose of each fund is included in the notes to the financial
statements.

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31StMarch 2024
Page 8
STATEMENT OF FINANCIAL ACTMTIES
NOTE
2024
2023
INCOME
Hire Income
Grants
Fundraisin
Bank interest
Misc
Total Income
£36,118
£13,890
£1,837
£35. 746
£16.095
£1, 145
£33
£590
£53 609
£385
£S2.230
EXPENDITURE
lo
ment Costs
Utilities
2024
£18,550
£10,001
£9,293
£1,282
£428
£500
2023
£15,932
£8,194
£7.917
£1,041
£200
£1,706
£4,613
£4,181
of Premises
Insurance
Rates
Accountanc
Fees
Centre Activities
Purchase of e
ui
ment
Centre Mana
ement
Miscellaneous
Totsl Ex nditure
£2,425
£2,145
£280
£46.223
£44.624
NOTES
The following grants were re￿iVed during the period:
2024
2023
£8.905
£12.495
£600
£400
£3,000
£200
Premises Grants
Kin
s Coronation
Coffee Machine
Vvarm Hub
Defibrillators
Christmas Carols
Oakle
Fest
£1,000
£2,185
£400
£800
Total
£16.095
All grants were re￿iVed from either North Northamptonshire Council or Corby Town
Council. Those shown as Premises Grants were towards the general cost of running
of the Centre and were not considered to be Restricted. The remaining grants were
re￿iVed for the purposes shown and were considered to have been Restricted; they
were used wholly for the purposes to which they were dedicated. No Restricted funds
remained at the end of the financial period.
The average number of fvll-time equivalent employees in the year was 1 (2023.1).
No employee eamed in excess of £60,000 during the year.

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31StMarch 2024
Page 9
STATEMENT OF FINANCIAL ACTMTIES (continued)
With effect from 2024. the expend"rture on Centre activities is deducted from the
income generated by them and the resultant figure is included in fundraising income.
Two defibrillators were purchased at a cost of £2,200. being financed almost
exclusively by a grant from North Northamptonshire Council. Remaining expenditure
was on minor items for use at the Centre.
There are no fixed assets.
Debtors
Prepayments and accrued
income
2024
£1.036
2023
£1,088
Cash at Bank and In Hand
2024
2023
HSBC Current Account
Pet
Cash
Total
£55.368
£350
£55,718
£64.066
The decision was taken during the year to discontinue the Pety Cash float, with
appropriate expenses being paid by bank transfer.
Creditors: amounts falling due within 1 year
2024
£1,799
£885
2023
Em
lo
ment costs
Govemance costs
Other trade creditors
Totsl
£1,444
£200
£1.644
Restricted Funds
All reserves are unrestricted. See also Note 1.
Share Capital and Members, Liability
The company is limited by guarantee and does not have a share capital
Every member of the company undertakes to contribute to the assets of the
company, in the event of it being wound up while helshe is a trustee or within one
year afterwards, for payment of the debts and liabilities of the company. charges and
expenses of winding up and for the adjustment of the rights of contributories among
themselves, such amounts as may ￿ required not exceeding £1.
10

OAKLEY VALE COMMUNITY CENTRE
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Page 10
FOR THE YEAR ENDED 31S1March 2024
STATEMENT OF FINANCIAL ACTIVITIES (continuedl
11
Ultimate Controlling Party
The charity is under the ultimate control of the trustees the names of whom are
shown at the front of these accounts.
BALANCE SHEET (The notes on pages 8, 9 and 10 fomi part ofthese financial
statements)
Fixed Assets - nil
2024
2023
Current assets
Debtors
£1,036
£1.088
Cash at Bank and In Hand £64,066
£55, 718
Total Current Assets
£65,102
£56,806
CREDITORS:
Falling due within one year £2,684
Net Current Assets
£62,418
(£1.644)
£55, 162
Net assets
£62,418
£55,162
For the year ending March 31. 2024, the company was entitled to exemption from audit under
Section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for.
the members have not required the company to obtain an audit of its accounts for the year
In question in accordance with section 476
the directors acknowledge their responsibilities for complying with the requirements of the
Act with respect to accounting records and the preparation of accounts
these accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies. ￿gime.
The accounts have been prepared in accordance with the special pn)visions relating to small
companies within the Companies Act, 2(XJ6.
The financFal ststements were approved and authorised for issue by the Board on January 31, 2024.
Signed on behatf of the Board of trustees