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Report and Financial Statements Year ended 31 March 2023
Oval Learning Cluster Charity number 1156350
DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
## Oval Learning Cluster
```
Status: Oval Learning Cluster is a charity registered in
England and Wales. The governing document is its
Articles of Association.
Registered office: The Foundry, 17 Oval Way, London SE11 5RR
Trustees:Sola Ingram
Caroline Andrews
Cordelia Cooper
Linda Campbell
Independent examiner: Martin Brown
Lynchmere Consulting (2022) Ltd,
45 Warwick Gardens,
Thames Ditton KT7 0RB.
Bankers: The co-operative bank
PO Box 250, Delf House
Southway
Skelmersdale WN8 6WT
```
```
www.ovallearning.org
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## Oval Learning Cluster Trustees’ Report for the Year Ended 31 March 2023
```
The trustees present their report and the financial statements for the year
ended 31 March 2023. This is also a Trustees’ Report as required by the
Charities Act 2011. The financial statements comply with current statutory
requirements and the requirements of the governing document.
```
## `Structure, Governance and Management`
```
Oval Learning Cluster began more than 11 years ago as a network of primary,
secondary and special schools, known as members. Member schools make a small
annual contribution towards core costs and commit to working together with
neighbouring schools and organisations to benefit children and young people and
their families. The skill, energy, commitment and support of school staff,
governors and parents is invaluable.
```
```
The organisation registered as a charitable association in 2014.The founding
trustees were headteachers from the original cluster partnership and subsequent
trustees are elected by representatives of member schools.
```
```
The charity has a strategic focus on supporting schools as an effective lever
to reach local children and families, improve experiences and outcomes and
reduce inequalities.
```
```
Oval Learning’s programmes for children and young people are usually delivered
through partnership agreements with schools or other partners. The organisation
therefore has low fixed cost overheads and can adapt quickly to changing needs.
```
```
During the year the charity continued to engage a team of part-time community
connectors and partnership leads to develop and support projects and programmes
working across schools with groups of parents, children and school staff,
charities, sports, arts, science, research organisations and other partners.
```
```
There have also been key changes in the structure of the core team with a new
Director in post (not an Officer of the Charity) and the formalising of the
strategic partnership with Integrate Agency through the engagement of a new
Director of Partnership. This is enabling targeted fund-raising support,
extensive expertise of the local VCS landscape and the development of wider
partnership opportunities.
```
## `Objectives and Activities`
```
The objectives set out in the governing document are to advance education and
relieve the needs of young people and their families in and around the Oval area
of London in particular but not exclusively by supporting a network of schools
and other organisations to offer outstanding teaching and extra-curricular
```
```
www.ovallearning.org
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experiences, and to improve opportunities for learning, guidance, support and
care. This is supported by our new Income Generation Strategy, Theory of Change
and strategic plan for the next four years.
```
```
We operate in a densely populated urban area in one of the most ethnically,
linguistically and culturally diverse parts of Britain. The majority of pupils
at the schools we work with live in poverty and 85% of Lambeth pupils are from
black and ethnic minority backgrounds.
```
```
We acknowledge the overwhelming impact the current cost of living crisis is
having on the health and well-being of our pupils and families and the
additional pressure being put on the school and wider communities we serve. We
are trying to ensure that our programmes, activities, and support also respond
effectively to this need within such a challenging financial context. Our
objectives have been met through the charity’s activities for the year,
summarised in the following table.
```
|||
|---|---|
|**`SUPPORTING CHILDREN AND FAMILIES through health and wellbeing`**
**`programmes for children and families`**
_`During the year we aimed to:`_
`-`
_`Continue to build good relationships between school staff,`_
_`pupils and parents in our area and connect with other`_
_`services`_
`-`
_`Offer targeted ‘early help’ for children’s social and`_
_`emotional health, by distributing grants to schools to`_
_`commission a network of art therapists and counsellors and`_
_`helping them share good practice`_
`-`
_`Invest in science, arts, maths, outdoor learning and`_
_`sports to address inequalities, develop inclusive`_
_`approaches and strengthen skills, confidence and social`_
_`connections.`_
`-`
_`Work with Special Educational Needs (SEN) school staff and`_
_`mental health leads to target support and activities for`_
_`families with multiple challenges of poverty and`_
_`disability`_
`-`
_`Identify and nurture new school/ community projects to`_
_`support children’s development and parental engagement`_
`-`
_`To address issues around racial equity, wellness and`_
_`social justice`_|`£176,857`
`74% of`
`expenditure`
`during the`
`year`
`(£237,752)`|
|**`SUPPORTING SCHOOLS AND THEIR COMMUNITY PARTNERS THROUGH`**
**`fundraising, coaching, training, coordination and peer support`**
_`We aimed to build the capacity of schools and their voluntary and`_
_`community sector partners so they are better equipped to work`_
_`together to offer holistic support for young people.`_|
`£60,892.`
`26% of`
`expenditure`
`during the`
`year`|
```
The majority of the expenditure is allocated to programmes which support
children’s health and wellbeing. We help schools go beyond their statutory
duties, to give children a rich experience and broad education, and to remove
barriers to learning, health, happiness and opportunity.
```
```
www.ovallearning.org
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Our aim is to help develop a nurturing culture for Lambeth's young people at a
household, school and community level both within the built environment and
across wider statutory settings and services that support them including health
and social care. Schools recognise the important role they play as community
hubs – supporting, engaging with, listening to and empowering the families they
serve.
```
```
The trustees confirm they have complied with the guidance contained in the
Charity Commission’s general guidance on public benefit in section 4 of the
Charities Act 2011 when reviewing the activities of the charity.
```
## `Achievements and Performance`
```
We distributed a range of grants to 26 schools totalling £138,713 further
supporting and working more closely with two wider networks of school
communities (primary, secondary and special) by providing ongoing funding for
the cluster leads. This is supporting enhanced partnership working / access to
increased funding and enabling the widest possible impact.
```
```
We continue to develop our core strategic partnerships to build capacity and
reduce inequalities across the system. We are well placed to bridge the gap
between funders, schools and community-based delivery partners to triangulate
shared objectives to benefit pupils, and help to amplify the voices of
children, parents and school staff.
```
```
This year Oval Learning is also part of Impact on Urban Health’s (“IUH”)
Children’s Mental Health Advisory group whose remit is to influence IUH’s
current work, strategy and to consider how power might be shifted across its
portfolio of programmes. This role is in recognition that Oval Learning and
the schools it represents, work in a locally embedded way, understand the
issues experienced by children and families in Lambeth and are working to
provide solutions to tackle some of these issues and their impact.
```
```
As always, thanks to our generous donors as well as the volunteers who make our
work possible.
```
```
New partners / projects / funding this year:
```
- `Healthy Schools Fund Learning Events programme We are acting as a consultant in partnership with Impact on Urban Health, Walcot Foundation and the London South Teaching Schools Hub. This program is helping schools, funders, delivery partners and other stakeholders consider how to maximise learnings and develop a legacy within and beyond the short-term Healthy School Fund (provided by IUH and administered via the Walcot Foundation)`
```
www.ovallearning.org
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- `Royal Chemistry Society – funding received to engage an Oval Science Partnership coordinator one day a week to deliver a programme of activities, workshops, CPD and to facilitate wider engagement with science across our schools and communities`
- `The Social Innovation Partnership & Your Story Project:` _`Improving Parent, School Staff Communication & Engagement`_ `This project aimed to facilitate community listening activities that directly engaged parents, caregivers, and school staff to gain a better understanding of the challenges that exist. These discussions provided a platform for participants to share their experiences, current practices,and ideas on how to improve communication and engagement between school staff and parents.`
- `Greenhouse Sport, UCL, Impact on Urban Health ‘Positive Transitions’ Project The aim of this ongoing project is to test and develop an approach to supporting children as they transition from primary to secondary school, The project will expand Greenhouse Sports’ model of embedding sports coaches in schools to work across a secondary school and four feeder primaries in Lambeth. The coaches provide sports coaching, mentoring and in-school support`
- `New grants from Hyde Housing: Stockwell Strong Fund:`
- `Hyde Housing has awarded Oval Learning, in partnership with Centric, Stockwell Partnership and Thriving Stockwell a funding pot to pilot cost-of-living initiatives in Stockwell for organisations such as school parent groups, that serve the Stockwell community Grow Back Greener:`
-
- `The project aimed to develop an understanding of how nature and outdoor spaces can support wellbeing in urban schools, how outdoor spaces can be developed to expand outdoor learning provision and to improve understanding of issues around sustainability in the local community City Bridge:`
- `A new relationship is being brokered and funding secured`
```
Continuing financial support received from:
```
- `Impact on Urban Health`
- `Continuing in kind support from the Foundry who generously provide office and meeting space and Surrey Cricket.`
```
As reflected in the Charity Excellent Quality Mark self-assessment profile and
in recognition of the need to communicate, connect and influence widely in
order to improve impact we have been working hard to amplify the voice of our
schools and communities and share the work we do. This has been enabled
through the development of our website and a more pro-active social media
strategy supported by dedicated web-design and support. As noted, Oval
```
```
Learning now also sits on the IUH Advisory panel – representing our schools and
families and helping steer IUH’s work.
```
```
www.ovallearning.org
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```
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
## `Financial Review`
```
During the year the charity raised £116,914 income – a reduction on the prior
year (£382k) and in line with the previous trajectory given the gradual
reduction of funding made available in response to the COVID pandemic and to
support schools in meeting the acute needs of children and families at that
time. The spend on wellbeing programmes therefore decreased this year from
£225k to £180k. The needs this year and in future years are increasing
(particularly in the context of the current cost of living crisis) so
fundraising is an ongoing challenge.
```
```
The SOFA shows a net outflow this year as amounts recognised as income in
earlier periods, were spent in the year
```
```
Expenditure on core management, fundraising and admin increased during the year
from £50k to £86k reflecting the engagement of external accountants (including
an independent examiner), website and media support, a more formal relationship
with the cluster leads at Windmill and Brixton Learning Collaborative and the
new core team of Director and Director of Partnerships. We are however,
delighted to been granted four-year anchor partner funding from Impact on Urban
Health – ensuring a more sustainable future for the charity and which will
provide essential core-funding enabling a flexible agile response to local
need. This relationship is built on a series of jointly agreed milestones which
are building on the work we do while helping shape our strategic direction
```
```
We continue to focus our efforts on working with local organisations and
schools to direct funding to where it can make most difference, whether or not
Oval Learning is a direct beneficiary.
```
## `Grants to schools`
```
As part of our work we distribute funds and advice to schools to enable them to
commission interventions and support for children and families which go beyond
the statutory requirements.
```
```
In the current year ending 31 March 2023, Oval Learning allocated 13 grants
totalling £138,713 to 26 separate schools. Total grant distribution is less
than the previous year’s total of £192,833 however this is partly because we
have supported more schools to connect directly with charitable funders. We
have advised on, levered and influenced further additional funds direct to
schools – administered by different organisations with Oval Learning acting as
bid and programme support, investment adviser, broker and facilitator rather
than physical intermediary and grant maker. These types of direct grants to
schools from IUH via Walcot Foundation / Walcot Foundation Schools grants / the
National Lottery Awards for All programme have this year totalled £565K.
```
```
www.ovallearning.org
```
```
7
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Member schools and others value our role in distributing much needed charitable
funds. Over the last two years we have directly supported more than 20 schools
with cash donations.
```
```
These funds support schools’ valuable enrichment, pastoral support and
wellbeing programmes. The additional funding beyond standard education budgets
is possible thanks to the efforts we have made to build strategic alliances
with endowed charities and local and national delivery partners.
```
```
We are a trusted partner changing attitudes and practices for charitable
funders, giving them greater confidence to invest directly in schools as a way
of delivering valuable front-line support for children and families.
```
||**`Year 22/23`**
**`Year 21/22`**
**`£138,713`**
**`£192,833`**
`£8,000`
`£1,446`
`£4,000`
`£599`
`£4,000`
`£8,000`
`£4,920`
`£7,000`
`£1,446`
`£4,000`
`£599`
`£2,000`
`£599`
`£4,500`
`£847`
`£45,989`
`£599`
`£4,000`
`£599`
`£4,000`
`£17,476`
`£11,500`
`£599`
`£4,000`
`£3,900`
`(Includes supporting`
`Brixton Learning`
`£34,500`
`(Includes supporting`
`Brixton Learning`|**`Year 22/23`**
**`Year 21/22`**
**`£138,713`**
**`£192,833`**
`£8,000`
`£1,446`
`£4,000`
`£599`
`£4,000`
`£8,000`
`£4,920`
`£7,000`
`£1,446`
`£4,000`
`£599`
`£2,000`
`£599`
`£4,500`
`£847`
`£45,989`
`£599`
`£4,000`
`£599`
`£4,000`
`£17,476`
`£11,500`
`£599`
`£4,000`
`£3,900`
`(Includes supporting`
`Brixton Learning`
`£34,500`
`(Includes supporting`
`Brixton Learning`|
|---|---|---|
||**`Year 22/23`**||
|**`Cash grants direct to schools`**||**`Year 21/22`**|
|**`TOTALS`**|**`£138,713`**|**`£192,833`**|
|`Archbishop Tenisons`||`£8,000`|
|`Ashmole Primary School`|`£1,446`|`£4,000`|
|`Christ Church Streatham`|`£599`|`£4,000`|
|`ARKEvelyn Grace Academy`||`£8,000`|
|`Henry Fawcett Primary School`|`£4,920`|`£7,000`|
|`Herbert Morrison Primary School`|`£1,446`|`£4,000`|
|`Holy Trinity Primary`|`£599`|`£2,000`|
|`Jessop Primary`|`£599`|`£4,500`|
|`Lansdowne`|`£847`||
|`Lilian Baylis`|`£45,989`||
|`Loughborough Primary`|`£599`|`£4,000`|
|`Orchard Primary School`|`£599`|`£4,000`|
|`Reay Primary School`|`£17,476`|`£11,500`|
|`Richard Atkins Primary`|`£599`|`£4,000`|
||`£3,900`
`(Includes supporting`
`Brixton Learning`|`£34,500`|
|||`(Includes supporting`|
|`Saint Gabriel’s College`||`Brixton Learning`|
```
www.ovallearning.org
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```
8
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
||**`Year 22/23`**||
|
|---|---|---|---|
|**`Cash grants direct to schools`**||**`Year 21/22`**||
||`Collaborative`|`Collaborative)`||
|`St Andrew’s C of E Primary`|`£15,847`|`£7,500`||
|`St John’s Angell Town`|`£599`|`£4,000`||
|`St Jude’s Primary`|`£1,198`|`£4,000`||
|`St Luke’s`|`£599`|`£4,000`||
|`St Mark’s CofE Primary School`|`£2,476`|`£7,000`||
|`St Saviours Primary School`|`£599`|`£4,000`||
|`ST STEPHENS PRIMARY SCHOOL`|`£1,446`|`£4,000`||
|`Stockwell Primary`|`£599`|`£3,500`||
||`£3,900`|`£21,833`||
|||`((includes`||
|||`supporting network`||
|||`of Windmill Cluster`||
|`Sudbourne Primary`||`schools) 3`||
|`The Michael Tippett School (now`||||
|||||
|`Heron Academy)`||||
|`Trinity Academy`||`£8,000`||
|`Turney`|`£847`|||
|`Van Gogh House`||`£2,250`||
|`Vauxhall Primary School`|`£1,446`|`£7,000`||
|`Walnut Tree Walk Primary School`|`£16,588`|`£14,500`||
|`Wyvil School`|`£12,946`|`£4,000`||
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www.ovallearning.org
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```
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
|**`Cash grants secured by OLC but`**|**`Year 22/23`**||
|---|---|---|
|**`paid direct to schools from`**|||
|**`funders`**|||
|**`TOTAL`**|**`£565,000`**||
|`Archbishop Tenisons`|`£30,000`||
|`ARKEvelyn Grace Academy`|`£30,000`||
|`Henry Fawcett Primary School`|`£50,000`||
|`Hill Mead Primary`|`£30,000`||
|`Holy Trinity Primary`|`£25,000`||
|`Lansdowne`|`£10,000`||
|`Lilian Baylis`|`£40,000`||
|`Loughborough Primary`|`£40,000`||
|`Orchard Primary School`|`£25,000`||
|`Reay Primary School`|`£20,000`||
|`St Andrew’s C of E Primary`|`£20,000`||
|`St John’s Angell Town`|`£25,000`||
|`St John the Devine C of E Primary`|
`£20,000`||
|`St Luke’s`|`£20,000`||
|`St Mark’s CofE Primary School`|`£20,000`||
|`ST Stephens Primary School`|`£20,000`||
|`Michael Tippet School (Heron`|`£15,000`||
|`Academy)`|||
|`Trinity Academy`|`£30,000`||
|`Turney`|`£15,000`||
|`Van Gogh Primary School`|`£30,000`||
|`Vauxhall Primary School`|`£20,000`||
|`Wyvil School`|`£30,000`||
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www.ovallearning.org
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10
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
## `Reserves Policy`
```
The trustees have set a reserves policy to hold at least one year’s expenditure
on core activities in free reserves (being liquid unrestricted reserves), given
that the majority of the charity’s income is restricted to programmes. This is
reviewed annually. Currently, the reserves requirement is forecast to be
£91,287. At the year end, unrestricted reserves were £101,778 which the
trustees are comfortable meets the reserves policy requirement.
```
## `Going Concern`
```
The trustees are satisfied that the charity will continue as a going concern
for the foreseeable future.
```
## `Statement of Trustees’ Responsibilities`
```
The trustees are responsible for preparing the Trustees’ Annual Report and the
financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
```
The law applicable to charities in England and Wales requires the trustees to
prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and
application of resources of the charity for that period. In preparing these
financial statements, the trustees are required to:
```
- `a) select suitable accounting policies and apply them consistently;`
- `b) observe the methods and principles in the Charities SORP;`
- `c) make judgments and accounting estimates that are reasonable and prudent;`
```
d) state whether applicable accounting standards have been followed, subject to
any material departures disclosed and explained in the financial
statements;
```
- `e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.`
```
The trustees are responsible for keeping adequate accounting records that
disclose with reasonable accuracy at any time the financial position of the
charity and enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the
provisions of the trust deed. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
```
## `Thanks to our funding partners and volunteers`
```
We are grateful for the generosity of our donors and funding partners, and the
impact and support of our volunteers. Most of our volunteers are young people,
teachers, school staff, parents, carers,
```
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www.ovallearning.org
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members of the wider school community who help to deliver programmes and share
resources and ideas across the local schools network.
```
```
This report was approved by the Board of Trustees and signed on its behalf.
```
```
_________________________________,
```
```
Trustee
```
## 1/15/2024
```
…………………
```
```
Date
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www.ovallearning.org
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Docusign En¥ÈlopÈ ID". CgAOA186-8EA445F6-9932-F054CC720E29
Independent examiners repDrt to the trustees of Oval Learni ng Cluster
Responsibilities and basis of rèport
I report tll the charity truqtp.es on my p.xamin4tJon of thp arcounts of thÈ abnvp eharaty
for the year ènded 31 March 2022. As the charity's trustees. you are responsible for the
preparation of tb@ accounts in accordante with the requir8Trents of th@ Charities Act 2011
"the Act. l. I report in respect of my examlnatlon of the TFUSt' s accounts carrled uui
under section 145 of the 201 IA¢t and in carrying out my exafflin3tion. I have followed all
the applLcable Dlrectlons olven by the Charlty Comlssion under sectlnn 145151{bl
of the Act
Tndeppndent pxafflifjer. s statefflp.nt
I have cmpleted my examination. I coiif irffl that no material matters have come to my
attention in connoetiom with the exafftinatlon Nhich gives me cause to believe th8t in, any
ffl8terial respect
the arcauntino record? were. nc)t kppt in ar.eordane.e wlth sectinn 190 of the fhariti?s
the accounts did not 8ccord with the accounting records". or
the accounts did not comply with the applic8ble requirements concerning the forni and
content of accounts set out in the Charities (Accounts and ReFortsl Regulations 2008
other than any requ1reernt thdt the accounts glve a true and fair. view which is not
a matter considered as part of an iNdependeTrt exafftination.
I have no concerns and hsve coffE across no other fflatters in connection with the
examination to which attention should be drawi in this report in order to enable a proper
understanding of thè accounts to be reached.
Sigi)ecS
**funds**
**income**
**funds**
**funds**
**31/03/2023**
Note
**£**
**£**
**£**
**Incoming resources**
Turnover
5,000
-
5,000
Donations and legacies
6,275
-
6,275
Charitable activities
-
105,463
105,463
Investments
176
-
176
**_Total_**
9
11,451
105,463
116,914
**Resources expended**
Expenditure on:
Cost of sales
2,360
2,360
Raising funds
-
25,882
25,882
Charitable activities
1,118
210,752
211,870
**_Total_**
5
3,478
236,634
240,112
Net income (expenditure)
7,973
(131,171)
(123,198)
Transfers between funds
12,399
(12,399)
-
Net movement in funds
20,372
(143,570)
(123,198)
**Reconciliation of funds:**
Total funds brought forward
81,406
212,214
293,620
**Total funds carried forward**
101,778
68,644
170,422|**Unrestricted Restricted Total**
**funds**
**income**
**funds**
**funds**
**31/03/2023**
Note
**£**
**£**
**£**
**Incoming resources**
Turnover
5,000
-
5,000
Donations and legacies
6,275
-
6,275
Charitable activities
-
105,463
105,463
Investments
176
-
176
**_Total_**
9
11,451
105,463
116,914
**Resources expended**
Expenditure on:
Cost of sales
2,360
2,360
Raising funds
-
25,882
25,882
Charitable activities
1,118
210,752
211,870
**_Total_**
5
3,478
236,634
240,112
Net income (expenditure)
7,973
(131,171)
(123,198)
Transfers between funds
12,399
(12,399)
-
Net movement in funds
20,372
(143,570)
(123,198)
**Reconciliation of funds:**
Total funds brought forward
81,406
212,214
293,620
**Total funds carried forward**
101,778
68,644
170,422|**Total**
**funds**
**31/03/2022**
**£**
-
4,685
377,496
11
382,192
-
3,541
275,348
278,889
103,303
-
103,303
190,317
293,620|
|---|---|---|
||7,973
(131,171)
(123,198)
12,399
(12,399)
-||
||20,372
(143,570)
(123,198)
81,406
212,214
293,620||
||101,778
68,644
170,422||
||||
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14
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Oval Learning Cluster
Balance Sheet
```
```
As at 31 March 2023
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|Note
**Current assets**
**Debtors**
**6**
**Cash at bank and in hand**
**_Total current assets_**
**Creditors: amounts falling**
**due within one year 7,8**
**_Net current_**
**_assets/(liabilities)_**
**_Total assets less current_**
**_liabilities_**
**_Total net assets or_**
**_liabilities_**
**Funds of the Charity**
**Restricted income funds**
**Unrestricted funds**
**_Total funds_**
**_9_**
Signed by one or two
trustees on behalf of all
the trustees|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Total**
**31/3/2023**
**Total**
**31/3/2022**
**£**
**£**
**£**
**£**|
|---|---|
||36,615 36,615
101,374
110,279 47,649 157,928
194,046
110,279 84,264 194,543
295,420
8,501 15,620 24,121
1,800
101,778 68,644 170,422
293,620
101,778 68,644 170,422
293,620
101,778 68,644
170,422
293,620
68,644 68,644
212,214
101,778
101,778
81,406
101,778 68,644 170,422
293,620
Date of
approval
dd/mm/yyyy|
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www.ovallearning.org
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15
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Oval Learning Cluster
Notes to the financial statements
For the year ended 31 March 2023
```
## **1 Accounting policies**
## **a) Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
## **b) Public benefit entity**
The charity meets the definition of a public benefit entity under FRS 102.
## **c) Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There are no key judgements that the charity has made which have a significant effect on the accounts.
The trustees do not consider there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## d) **Change in accounting policy**
The accounts are presented under the accrual accounting method since the year ending 31 March 2021 when the charity exceeded the threshold for accounting on a Receipts and Payments basis.
## **e) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.
Income from the supply of consultancy services is recognised when the contracted services are delivered.
## **Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **f) Interest & dividend receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividend is recognised as and when received or when the right to receive has arisen.
## **g) Fund accounting**
- Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
- Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
- Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Oval Learning Cluster
Notes to the financial statements
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```
For the year ended 31 March 2023
```
## **h) Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:
- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- Expenditure on charitable activities includes the costs of Grant making and related activities undertaken to further the purposes of the charity and their associated support costs
- Support costs include the cost of overall direction and administration of the charity's activities
## **i) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2. Taxation**
The charity is exempt from Income tax as all its income is charitable and is applied for charitable purposes.
## **3. Details of certain items of expenditure**
|
**Details of certain items of expenditure**||
|---|---|
||31 Mar 2023 31 Mar 2022|
|Fees paid to Independent examiner||
|for Independent Examination|£1,000 £1,000|
|other assurance services – accounts preparation|£750 £-|
|Governance costs|£- £-|
|Total|£1,750 £1,000|
-
The charity had no employees during the year (2022: Nil)
## **4 Related party transactions**
The charity trustees were not paid or received any benefits from employment with the charity in the year (2022: Nil). No charity trustee received payment for professional or other services supplied to the charity (2022: Nil).
No payments or reimbursement of travel and subsistence costs were made to any trustees for trustee meetings during the year (2022: Nil). One Trustee was reimbursed the sum of £172 for purchases as agent of the charity (2022: Nil). .
No trustee or other person related to the charity had any personal interest in any contractor transaction entered into by the charity during the year (2022: Nil). The trustees delegated day to day running of the Charity to a manager, Anne Roots
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Oval Learning Cluster
Notes to the financial statements
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```
For the year ended 31 March 2023
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## **5. Expenditure analysis**
|**Unrestricted**
**£**
Expenditure on raising funds
Website, social media and communication
-
External fundraising capacity
-
Activities undertaken directly
-
Grants to partner organisations
-
Support costs
1,118
1,118
**Support costs**
Finance support
Management & administration support
118
Donated meeting spaces
1,000
1,118|**Restricted**
**£**
2,132
23,750
1,916
146,964
61,872
236,634
11,302
50,570
-
61,872|**Total 2023**
**Total 2022**
**£**
**£**
**2023**
**2022**
2,132
3,541
23,750
1,916
52,615
146,964
172,333
62,990
50,400
237,752
278,889
11,302
7,400
50,688
42,000
1,000
1,000
62,990
50,400|
|---|---|---|
The related donated meeting spaces income is included in Donations and legacies income in the SOFA. This relates to meeting spaces used at no cost to the charity.
|**6. Debtors**
Grant funding receivable
Trade Debtors
Prepayments
Accrued income – Restricted grants
**7. Creditors**
Trade creditors
Accruals
Prepaid income
**8. Deferred income**
Balance at beginning of year
Released to income in year
Deferred in the year
`B`alance at end of year|**31 Mar 23 31 Mar 22**
**£**
**£**
35,000
-
-
750
1,615
0
-
100,625
£36,615 £101,375
**31 Mar 23**
**31 Mar 22**
**£**
**£**
3,370
1,800
12,250
0
8,501
0
£24,121
£1,800
**31 Mar 23**
**31 Mar 22**
**£**
**£**
-
25,688
- (25,688)
8.501
-
£8,501
-|
|---|---|
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18
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DocuSign Envelope ID: C9A0A186-8EA4-45F6-9932-F054CC720E29
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Oval Learning Cluster
Notes to the financial statements
```
```
For the year ended 31 March 2023
```
## **9. Restricted Funds movements**
|**RESTRICTED FUNDS**||||||
|---|---|---|---|---|---|
||**Balance**|**Incoming**|**Resources**|**Transfers**|**Balance**|
|**Fund**|**01-Apr-22**|**resources**|**expended**||**31-Mar-23**|
||**£**|**£**|**£**|**£**|**£**|
|GST AMH Capacity EIC201201|7|-|7|-|-|
|Vincents Treasures NL Heritage Fund|3,531|-|3,531|-|-|
|GST Childhood Obesity Secondary Phys Activity EIC200302|15,274|-|13,349|(1,925)|-|
|Lilian Baylis laptops (Peters & Peters)|45,000|-|45,000|-|-|
|Hyde Group - Parent Place|6,625|-|3,956|-|2,669|
|GST Early Mental Health Primary EIC210801|18,828|9,980|28,780|1,000|1,028|
|Core capacity Jan-Dec 22 Impact on Urban Health EIC211104|63,170|9,250|70,896|(1,150)|374|
|Ogden Oval Partnership|4,455|10,500|11,851|-|3,104|
|National Lottery Creative therapies|55,324|-|45,000|(10,324)|-|
|Core capacity jan-dec 2023|-|33,733|13,980|-|19,753|
|Hyde Group - Booster Fund|-|35,000|-|-|35,000|
|Hyde Group - Grow Back Greener|-|2,000|284|-|1,716|
|TSIP Parental Engagement|-|5,000|-|-|5,000|
|**TOTAL RESTRICTED FUNDS**|212,214|105,463|236,634|(12,399)|68,644|
Transfers have been made to align historic expenditure by fund as shown within the financial statements to the organisation’s books and records.
## **Purpose of restricted funds**
The restricted funds are made up of funds received from donors that are restricted for certain charitable activities, being the response to the COVID pandemic in the Oval area, and wellbeing activities for children (these include music programmes, sport programmes, creative therapies and activities around mental health).
## **10 Grants to institutions**
Details of grants made to institutions can be found in the Trustees’ Report.
## **11 Volunteers**
The work of the charity benefits from support of volunteers who are young people, teachers, governors, school staff and parents. These volunteers help to deliver programmes and share resources and ideas across the local schools network.
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19
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