Ore Community Centre Serving the local Community 01424 432 719 Registered charity, number 1156988 Annual Report and Financial statements for the year ended 31 December 2023 Page Contents Organisational Information Trustees. annual report Receipts and Payments Accounts Statement of Asset5 and Liabilities 8-14 Notes to the financial statement 15 Independent examinerfs report Ore Community Association Organisational Informalon for the year ended 31 December 2023 Name of Charlty: Ore Communlty Assoclatlon other names bywhlch the charity Is known OCA ReElstered charity number 1156988 Le8al status Charitable Incorporated Organisation ICIOI- association model Prlncipal address 455 Old London Road. Hastlngs, TN35 58H Trustees: In pos(t(on for the end of calendar Year 2023 Gary Rolfe- Chair {Suspended) Linda Marilyn Smith Lawrence Ballard appointed 30 June 2022 {acting Chair) Michael Carr appointed 30 June 2022 Rebecca Draper appointed 30 June 2022 Bankers The Co-operative Bank p.l.c, P.0. Box 101, 1 Balloon Street, Manchester, M60 4EP Independent examlner Laura Dawson. Flnance Manager Hastings Voluntary Action, Hastings Voluntary Action, Jackson Hall. Portland Place. Hastings. TN34 IQN Ore Community Association Trustees, annual report for the year ended 31 December 2023 Govemance and Mana ement Ore Community Association was formed as a Charitable Incorporated Organisation ICIOI during 2014 and took over the assets and activities of the unincorporated charity of the same name on l January 2015. The assets include a building which is used as a community centre and was the subject of a freehold asset transfer from East Sussex County Council IESCCI. Although it was a freehold transfer, in the event of the dissolution of Ore Community Association, the buildin8 would revert to ESCC. The charity is constituted and operates under the rules of its constitution adopted and accepted onto the th register of charities as a Charitable Incorporated Organisation on the 8 May 2014. The charity is managed by an executive committee (the trustees) which meet on a frequent ba51S to consider all matters pertaining to the centre and the overall direction of the project. The day to day running of the project is delegated to a small staff team. The methods adopted for the recruitment and appointment of new trustees 15 laid down in the constitution and presently under review. Trustees are elected by the members of the A550ciation attending the Annua5 General Meeting, and are elected on a three year rotational basis. New trustees are drawn from the members. Vacancies to trustee position5 can be filled by co-options between AGM'S. Charltable ob 3.1 To promote the benefits of the inhabitants without distinction of sex. sexual orientation, age, disability, nationality. race or political. religiou5 or other opinions, by associating together the said inhabitants and the Statutory authoritie5, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the conditions of the life of the said inhabitants. ects 3.2 To establish or secure the establishment of, a community centre and to maintain and manage the same (whether alone or in co-operation with any authority or other body or person) in furtherance of the objects. 3.3 To promote such other 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 determined. 3.4 The charity shall be non-party in politics and non-sertarian in religion. Summa of the main activitles and achlevements undertaken for the ubllc beneflt PubliG benefit In setting the charity's objectives and planning it5 activitles the trustees have given consideration to the Charity Commission guidance on public benefit. Achlevemenls and erfomiance 2023 proved to be an exceptionall turblent year for the centre with trustees. employees. volunteer5 and internal operations within the organisation. The chairman temporarily stood down and then was fomially suspended requiring an temporary chaimian to be appointèd. The paid office managerl maintenance man stood down the role a few months later allowing the centre to resvma being operated on a skeleton staff on a volunteer basis. The centre resumed fundraising Ihrough grant applir2tions. this has allowed the centre lo instal the fire alami system that was requested previously reqLsested to make the buildlng safe during an fire risk assessmenl daled 2019 by an fire consultants. The centre while Ihe leaks have become less of an issue, does still contlnue lo leak In a couple of places. While the building mainlenance remains lo be a pefpetual drain on resources Ihe centre has started and resolved some Issues wlh the help of volunteers including faulty and dangerous electrical work previously wmpleled or not finished. At the time of writing the cost savlngs over the svmmerwill contrfbule towards operating costs thfoughout the winler. The foodbank Ihal has operateij from Ihe centrg has unfortunalety left the centre. Throughout Ihe year (2023) there has been a high level financial audit taken place to make financial savings and pursue unpaid imioices lo the centre allowlng the cenlre to polenlialty rely on less grants for the day to day running and allowng the centre lo become a self-svslairiing operation. While the centre to a user the centre will not have changed much or posslbly gone backwards 8 bil. the non-cuslomer faciny operations have been reviewed and revised including the introduction of absent policies, some absenl procedures, digilisalion of some record5. project sel ups to allow ongoin9 ¢Jeliverables of the maintenance, enhancements lo the onlre and organisational structure. This should allow the tnjslees going forwards th8 ability prioritise and keep track as the building is upgraded. 2024 Is expected lo be an exciting year for the centre wlh the hope of becoming a proadive organis8tion ralher than a reaclive one. Going forward this ￿11 induding some more additional building maintenance, upgrading various aspects like the heatlng with more engagement with the publlc and users. Rlsk mana ement It is the duty of the Trustees to identify and review risks which mlght affect the charity and to ensure appropriate controls are in place, including assurances against fraud and error. The trustees have sought to identify those risks and have started to put systems into place which mitigate against exposure to such problems that were previously available for exploitation. Reserves The charity has no fomial reserves policy and holds minimal free reserves ￿Using heavy ￿nCemS amongst Iruslees. This situalion has been investigated within thi5 year and wth the Creation of a policy and procedure around financial controts wll have a section about minimum reseThes. This wll include a strech target of 10°A with the expectation of meeting 5°h of income lo build up reserves. Res onslbllltles of the Trustees The Trustees are responsible for preparing financial statements in accordance with applicable law and United Kingdom 8enerally Accepted Accounting Practice. Under Charity law the trustees are required to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities durin8 the year and of its financial positlon at the end of the year lunle55 the charity is entitled to prepare account5 on the alternative receipts and payments basis}, In preparing those financial statements the Trustees are required to". al Select suitable accounting policies and apply them consistently* b} Make judgements and estimates that are reasonable and prudent: cl State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; dl Prepare the financial statement on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeplng accounting records which disc105e with reasonable accuracy the financial position of the charity and which enables the Trustees to ascertain the financial position of the chanty and to ensure that the financial statement comply with the Charities Act 2011, the appllcable Charity (Accounts and Reports) regulations and the provisions of the constitution. The Trustees 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. This report was approved by the Trustees on and si8ned on its behalf by: Signed Printed Name Dated 281 fjl .2L¥........ Ore Community Centre Trustees, annual report for the period 1st January 2023 to 31st December 2023 Receipts & payments account at 31st December 2023 Restricted Unrestrlrted funds funds Note Total 2023 2022 INCOMING RESOURCES Income and Endowments from: Grants and donatlons Charitable activities Other trading actlvitles Other Income TOTAL INCOMING RESOURCES 2,000 2,0 13,000 5,912 33,248 53,998 74 53,998 74 56,073 56.073 52,165 OUTGOING RESOURCES enditure on: Charitable activities Govenrnance costs Funds held for others TOTAL RESOURCES EXPENDED 51,833 51,833 44,945 51,833 51,833 44,945 NET 5urplus/deficit 4,240 4.240 7.220 TOTAL FUNDS AT I JANUARY 2023 1.000,000 1,673 1,001,673 994.453 TOTAL FUNDS AT31 DECEMBER 2023 1.000,000 5,913 1,005,913 1,001,673 Ore Community Centre Trustees, annual report for the period 1st January 2023 to 31st December 2023 Statement of assets and liabilities at 31st December 2023 Restrlrted Unre5trfcted fund5 funds Note Total 2023 2022 FIXED ASSETS Tangible assets 1,000,000 1,1108 1,IXII.OIYd 1,001.118 CURRENT ASSETS Cash at bank @ 31.12.22 C35h In Hand @ 31.12.212 PayPal DebtOT5 6,808 6,808 324 324 1,554 1,554 7,665 7,665 17.359 1.017,359 8.386 632 6.787 1,016.923 1,000,000 Credltors: Amounts falllng due wlthln one year 81 81 263 Creditors: Amounts falling due after more than one year Natwest solar Panels Bounce Back Loan 3,381 3.381 7.984 7.984 11,446 11.366 5.913 1,005.913 4,778 10.208 Totsl assets less current Ilabilitles 1.000,000 1,001.673 REPRESENTED BY: Accumlated fundblf Net profit/lloss1 1,001,673 4,240 1,005,913 These financial statements are accepted on behalf of the charity by: Trustee Date: Z31•12ty Ore Community Association Notes to the accounts for the year ended 31 December 2023 ACCOUNTING POLICIES 1.1 Basis of preparatlon of financial statements The financial statements have been prepared under the historical convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 20151. The financial statement have been prepared in accordance with the Statement of recommended Practice Accounting and Reporting by charities ISORP 2015} and the Charites Act 2011. Ore Community Association meets the definition of a public benefit entity under FRSIO2. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general obJectives of the charity and whlch have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts. 1.3 Incomlng Resources All incoming resources are included in the Statement of Financlal Actlvltles when the charity is legally entitled to the income and the amount can be quantlfied wlth reasonable Ore Community Association Notes to the accounts for the year ended 31 December 2022- convd Gifts in kind donated for distribution are included at valuation and recogni5ed as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.4 Resources expended All expenditure is accounted for on receipts and payments basis and has been included under expense categories that aggregate all c05t5 for allocation of activities. Where costs cannot be directly attributed to particular activities, they have been allocated on 3 basis consistent with the use of the resources. Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in 5UPPOrt of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at the principal address or outreach. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Ore Community Association Notes to the accounts for the year ended 31 December 2022- cont'd 1.5 Exemption from preparlng a cashflow statement The charity opted to adopt Bulletin I published on 2 February 2016 and have therefor not included a cashflow statement in these financial statements 1.6 Tangible fixed assets and depreclatlon All asset5 Costs more than £500 are capitalised, Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value. over their expected useful economic life as follows: Asset cla55 Depreciatlon method and rate Buildin85 No depreciation is provided as the useful economic life is so long and the estimated residual value such that any charge would be negllglble. Fixture5 & equipment IO% straight Ilne 1.7 Borrowings Interest-bearing borrowings are initially recorded at falr value, net of transaction cost. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds. net oftransaction costs. and the amount due redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. io INCOMING RESOURCES Restricted funds 2023 Unrestricted funds 2023 Total fund5 2023 Total funds 2022 TOTAL 56,073 56,073 56,165 Grants and donatlons Include the followln8: Donations from individuals Food Network Big Local Police and Crime Commission Fire Alarm Grant Orbit Grant RHL Grant 2.0(N) 10,000 i.o(M) 2,000 2,000 2,000 2,000 Restricted funds 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 3. Incorne frorn charitable arti¥itie5- Operatlon of Ore Centre 4995 4. Income from other tradln8 a¢tlvilies Restricted funds Unrestricted funds 2023 31.326 560 22,112 53.998 Total funds 2023 31.326 560 22,112 53,998 Total funds 2023 2022 27.053 1200 Venue Hire Parking Activities- Café 28.253 5. Other Income Restricted funds Unrestricted fund5 2023 Total funds 2023 Total funds 2023 2022 HMRCJRS Grant Other 74 74 5916 5.916 74 74 li Ore Community Association Flnancial Activities January- December 2023 6 EXPENDITURE ON: Restricted funds Unrestricted funds Total funds Total fundg 2023 2023 2023 2022 Accountant Activity costs PayPal & Sumup Fees Loan Interest- BBL Loan Interest- Solar Panels Bulldlng Runnlng Costs tleanlng materials DBS Checks H&S/Flre rlsk assessment repalrs Heat and Llght Hyglenelwaste LScences Rates Repalr and malntenance Sundry Watèr rates Asset Depreciation Café Overheads Dues and 5ub5cription5 FSB ICO- data protection Locallty membership Accounts- QB Ilten¢e Other MlscÈllanÈous Serylce Cost World pay Labouflvolunteer Cost Centre Mana8er (Non PAYEI Cleaners wages Mana8er IMCI Office Refreshments Other Professlonal Servlces Trustèes Empenses Voluntèèrs eMpense5 Offl¢elGeneral Admlnlstratlve Expenditure5 150 2,023 103 153 704 459 153 73 459 578 ioi ioi 14 7,048 620 270 319 4,641 7.048 620 270 319 4.641 5,382 1,288 563 894 5,726 330 iio 22,373 330 iio 22.373 12 122 5.867 35 195 35 195 35 3( 318 353 353 174 780 1,956 4,947 68 253 780 1,956 4.947 68 253 1.904 8,969 65 256 256 2,313 12 Phone Costs 699 699 127 Prlntln& Postage and Statlonery A¢tounts- QB Lltèncè Independent Examlnatlon Computer Costs Lease Equipment rental Insurances TfalnlnB Uncategorlsed Expense Phone costs Bad Debts Total Expenditure -51 257 .51 257 16 100 220 520 94 520 94 520 2,006 24 140 2.006 24 140 2,413 48 2,301 2,164 51.833 2.164 51,201 44,945 Staff C05t were a5 follows: Wages & salarles The average monthly number of employees during the year was as follows.. 2023 2022 No employee received remuneration amountin8 to more than £60.000 in either year 13 Ore Community Association Notes to the accounts for the year ended 31 December 2023- convd 7 TANGIBLE FIXED ASSETS Tangible fixed assets Cost AtJanuary2023 At December 2023 Land and Building5 Furniture and equipment Total 1.000.000 1,000,000 2,598 2,598 1,002.598 1,002,598 Depreciation At ljanuary 2023 Charge for the year 1,500 90.00 1,590 Isoo 90 1590 Net Book value At 31 December 2022 At 31 December 2023 I,LK)O.000 1,000,000 1,098 1,008 1,001,098 1,001,008 In 2012. East SLsssex County Council IESCCI offered Ore Community Association the building they were renting from ESCC as a freehold transfer. This necessitated OCA becoming an incorporated organisation which was effected during 2014, with the asset transfer taking place on l January 2015. AlthouBh the building was a freehold transfer, it must be noted that. should OCA cease to exist, the building can be passed to another charitable organisation with the same or similar aims but only wlth the express consent of ESCC. In the event that ar¢other charitable organisation cannot be found. the building must be offered back to ESCC in the first instance. 14 Independent Examinerfs Report to the Commlttee of Ore Communlty Centre I report on the accounts of Ore Community Assocaition for the twelve month period ended 31st December 2023 which are Set out on the previous page5. Respèctlvè responslbilitles of committee a examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act), and that an independent examination is It is my responslbllity- to examine the accounts under section 145 of the Charities Act to follow the procedLtres laid down in the General Directions given by the Charity Commission (under section 14515llbl of the Charities Act), and to state whether particular matters have come to my attention Basls of Independent examlnerfs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination Includes a review of the accounting records kept by the charity and a comparison of the supporting documentation presented with those records. It also includes consideratlon of any unusual items or disclosures in the accounts. and seeking explanation5 from the trustee5 concerning 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 present a "true and fair" view and the report is limited to those matters set out in the statement below. Independent examlnovs statement In connection with my examination, the following matters have come to my attention: Insufficient Physical evidence wa5 produced to conduct an effective examination. The missing items were invoices for labour from self employed people for cleaning the centre and the centre manager. 2023 was a8ain a turbluant year for the Centre and there were alot of changes in trusteeslvoulunteers & paid workers and this has le