Registered Charity No. 1167787
Registered Company No. 9829935
oarsome
OARSOME CHANCE
TRusfEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

OARSOME CHANCE
Contents of the Financial Statements
Forthe Year Ended 31 Marth 2024
Charity Information
Report of the Trustees
2-11
Report of the Independent Examiner
12
Statement of Financial Activities
13
Balance Sheet
14
Statement of Cash Flows
15
Notes to the Financial Statements
16-25

OARSOME CHANCE
Charlty Infomiation
For the Year Ended 31 March 2024
TRUSTEES:
Mr N Young
Mr R Ashman
Mrs KAshman
Mrs T Bandopdhyay (appointed 18 April 20231
Mr N Btjdgen
Mr D de Kretser
Ms L Power (appointed 20 October 20231
Ms G Robertson
Mr G Whitehead
CHIEF EXECUTIVE OFFICER:
Mr P Napthine
REGISTERED OFFICE:
The Boathouse
St Vincent College,
Mill Lane,
Gosport
Hants,
P012 4QA
REGISTERED COMPANY NUMBER:
9829935
REGISTERED CHARITY NUMBER:
1167787
BANKERS:
HSBC Bank plc
l Middle Street
Yeovil
Somerset BA20 ILR
INDEPENDENT EXAMINER:
Marcus Cridland B.A.(Hon51 F.C.A.
Scott Vevers Ltd.
65 East Street
Bridport
Dorset
DT63LB
Oar50me Chance is è Eompany lirnited byguarantee Reg15tered In Ensland and Wales No 9829935 Aegistered CharltyND 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
The Trustees present their report togetherwith thefinancial statements of the Charitable Companv
for the period ended 31 March 2024. They are also prepared to meet the requirements for a
directors, report and accounts for Companies Act purposes
The a¢¢ounts have been prepared in accordance with the accounting policies set out in the notesto
the accounts and comply with the Charity's governing document, the Charities Act 2011 and
Accounting and Reporting byCharitie5: Statement of Recommended Practi￿ applicable to charities
preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK
and Republic of Ireland IFRS 1021.
OBJECTIVES AND AcfiviTIES
Objects
The objetts of the Charity are as follows:
To act as a resource for young people up to the age of 25 living in the UK by providing advice and
a5515tance, and organising programmes of physical, educational and other activitie5 as a mean5 of:
(a) advancing in life and helping young people by developing their skills capacities and capabilities
to enable them to participate in society as independent, mature and responsible individuals;
(b) advancing education;
(cl advancing employability skills;
(d) providing recreational and leisure time activity, specifically coastsl and indoor rowing
programmes, in the interests of social welfare for people living in the area of benefit who have need
by reason of their youth, age. infirmity or disability, poverty or social and economic circumstance5
with a view to improving the conditions of life of such persons.
In planning the activities. the Trustees are committed to ensuringthat Charity Commission guidance
on public benefit 15 metthrough the pra￿sS of regular review and scrutiny.
ACHIEVEMENTS AND PERFORMANCE
Organisation overview
Oarsome Chance (OCI help to change the lives of youn8 people disengaged from mainstream
education, by providin8 practical and life 5ki11s training through a blend of vocational workshop
activities and outdoor education.
Oarsome Chance delivers a compelling mix of activities, including:
workshop activities, including carpentry, bike maintenance and car mechanics
physical activities, including rowin& cycling, skateboarding and boxing
creative activities, including art and music
The breadth of artivities is purposeful to enable students to gain a range of experiences enabling
them to best understand their strengths and interests and identify new skills and opportunities.
Oarsome Chance's trauma informed programme blends a range of vocational learning alongside
wellbeing support and focuses on individuals, to give students the best chance to achieve.
Oarsorne Chance isa company limited byguarantee Regi5tererl in England and Wales No 9829935 Reglstered Charlty No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
The young people attending Oc's curricular programmes are referred by local commissioning
partners, including the local authority Special Education Needs {SENI teams and local schools and are
made up of students who are at high risk of exclusion from school.
VISION sfRATEGY 2023- 2026: TRACKING OUR PROGRESS
Ourvision Strategy document, released in March 2023, wasthe culmination of a long period of work,
including initial consultation with staff, trustees and external stakeholders and developed into
vision forthe next chapter in Oarsome Chance's journey.
Oarsome Chance has always responded to the needs of students wrth innovation and a willingne55
to invest in new services. Our new Vision Strategy describes the four core areas of our delivery and
identifies howwe will continue to provide students with the sÈrvite5 and support they need into the
future.
To view the Vision Strategy document, please visit htt
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w.oarsomechance.or
The Vision Strategy describes our core mission, to help young people Feel Safe, Belong and Achieve.
The document identifies ourstrategic developmentfocus to deliverthis mission, which encompa55es
four key areas:
MISSION
RESOURCES
INVOLVEMENT
QUALIPI
Our achievements over this year illustrate significant progress against each of these strategic
development areas. and a review of our progress against each key aim allows us to outline Ocs
journey as an organisation over this year-
KEY AREA: MISSION
Keeping Students & Staff Safe
Key aim: To meet the best stt7ndord5 in safeguarding ond heolth & Safety.
OC in the first instance, strives to meet the basic needs of students, by simply providing meals and
practical 5UPPOrt, but also by providing a structure that allows security, and feelings of Safety and the
flexibility to adapt support to each individual's needs.
AII OC staff aretrained to Level 3 in Safeguarding with regular update5. e.g in response to chan8esto
the governmenys Keeping Children Safe In Education legislation. OC has Designated Safeguarding
Leads at both sites, with a Safeguarding Lead on the trustee board, who in turn heads up a
safeguarding working group.
OC has invested in the CPOMS safeguarding system for monitoring and managing safeguarding
concerns. The leadership team have worked hard to embed the system into our working prartice5,
with the system working well as a tool to support our safeguarding framework.
OC undergoes regular review5 of policies and procedures to maintain high standards in Health &
Safety, which are signed off by the board. OC use an external H&S adviser on a weekly basi5, and
implement weekly H&S checks across both sites.
Oarsorne Chance Is a company limited by6uarantee Reglstered in England and Wale5 ND 9829935 Reg15tered Charlty No 11677B7

OARSOME CHANCE
Report of the Trustees
Forthe Year Ended 31 March 2024
In terms of delivering off-site artivities, OC holds an Adventurous Activities Licensing Authority
{AALAI license, Royal Yachting Society (RYAI accreditation and OC are on the Hampshire Outdoors
Evolve risk assessment framework.
Helping Students Belong
Key aim: Trusting and positive staff to Student relationships. Improved students, emotionol literocy.
and self-regulotion, to promote positive engagement in the community and reduce risk taking
behaviour.
OC creates a sense of belonging, by strutturing sessions to offer enough time for young people to
work with and build relationships with staff and peers. This supports them in learning how to
navigate different sotial relationships and means that there are more staff that they feel safe and
secure with.
The OC team have a focus on supporting students to develop Independen￿ and life skills a5 a part
of preparation for adulthood. This includes for instance young people becoming involved in preparing
the lunchtime meal for all, helping to shop, prepare and cook the food. Eating together is an integral
part of the day.
Young people are also involved in developing the sites, for instance students have contributed ideas
and helped to carry out an upgrade of the garden areas, helping to build garden furniture and tend
to the garden plot.
With our growing network of partnerships in the community, young people have also had the
opportunity to take part in an allotment project with Havant Borough Council, building raised beds
and making planters from the hard casings from decommissioned Royal Navy Life Rafts. Our
Pathways work has also helped build links for young people with local businesses, helping to build
their sense of belonging to their community (see Helpin8 Students Achieve below).
Helping students Achieve
Key aim: Widen the breadth of opportunities available to young people attending Oarsome Chonce.
Provide clear pathwaysforstudentprogression.
Oc's ethos isthatwhen young peoplefeel safe, and have a sense of belongin& theywill be in a better
mindset to achieve. By ensuring young people have the right conditions to feel secure and valued.
we are able to make meaningful differen￿5 to them and help them to move forward.
Oc's programme5 deliver a rich blend of learning attivities, with the intent to provide a range of
experience5 to help young people understand their strengths and interests and identify new 5ki11s
and opportunities. Overthis year, OC has become an accredited NCFE provider INCFE is one of the
largest awarding bodies in the UK for vocational qualifications). Thi5 ha5 required a significant
investment in staff timeto build the NCFE infrastrurture and carryout the required due diligence and
procedures to attain provider status. NCFE has allowed us to link our broad breadth of attivitie5 to
accredited qualifications. enabling students to work towards Occupational Studies Level I through
our programmes. We will see our first group of students achieve their Level l at the end of the
Summerterm 2024.
In addition to access to accredited qualifications through NCFE, by helping young people identifytheir
interest5, we are also able to identify other suitable qualification5 they could work towards, including
RYA awards.
OarsomE Chance Is a company Ilmlted by guarantee Regi5terEd in England and Wale5 No 9829935 Registered Charlty No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
Our Careers programme works closely with every student aged 14 and over, to help them identify
destination, based on their strengths and skills. Staff support young people to draw up a plan and
work to facilitate their progress towards their destination, in a way which is sensitive to their
individual needs. This work is sUPPOrted by a grant from the CABWI Awarding Body. A5 a part of the
Careers programme, OC students have had a wide range of opportunities to explore their options,
including work place visits, career5 fair5 and college open days, with 80% of young people leaving us
at 16 moving into further training.
This year has also seen a significant effort to ensure we maintain young people's access to artivities
in'green, and'blue, spaces. We have implemented a broad rangeof staff training across paddlesports
and mountain biking. as well as ensuring a robust framework for delivering outdoor activities. This
has helped us to ensure the wellbeing benefits experienced by young people taking part in activities
in nature remains an integral element of our delivery.
Supporting Wellbeing In The Uves Of Our Students
Key aim: To give students knowledge and information t7bout their own wellbeing and mental heolth.
Students to hove access to support, suited to their individuol needs.
Our Wellbeing Lead la mental health specialist) co-creates a support plan for each student, in liaison
with the support staff at OC as well as liaising with families and external agencies to ensure their
mental health and wellbein8 needs are being met. The Wellbeing Lead also provides targeted I:1
support for students where required.
Outreach/family liaison continuesto be a key area of support-for many of the students who attend
OC we are the agency of trust. We forge constructive communication with families, which delivers
better outcomes forstudents. We have been supported by a multi-year grant from the Hants Office
of the Police Crime Commissioner Community Safety Fund to deliver thi5 work.
RESOURCES
Investing In Staff
Key aim: To become o highly skilled and trained stoff teom.
Oc's team incorporates skilled staff with experience in activities that are unique and engaging for
this demographic of young person. The support team includes a Wellbeing Lead la mental health
5pecialistl' a Careers Coordinator and those who are qualified in prattical trades and skills, including
outdoor activities. carpentry. mechanics, etc.
In this year, OC staff undertook 900 hours of trainin& which equates to an average of 40 hours per
member of staff. OC implement a blend of training across online and in person. All staff undertake a
full induction when they join OC and all Support staff are trained to Level 3 in safeguarding. This year
all support staff undertook PACE training, a trauma informed approach around Play, Acceptance,
Curiosity and Empathy. Staff also received training on Health & Safety and First Aid, as well as areas
of outdoorartivity delivery, including Paddlesports and Mountain Biking.
Staff are provided with regular support and supervision with quarterly I:1 supeNision with their line
manager and annual appraisals.
Improve Efficiencies In The Way We Operate
Key aim: Develop a value for money and time-based opprooch to provide best value to clients,
portners and supporters.
Oarsome Chance 15 a wmpany limlted byguarantee Reglstered In England and Wale5 No 982993S Ae8lStered Charity No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
OC operates under robustfinancial management processes, including monthly review5 by the senior
team to monitor cash flow and performance against budget. In the last year the trustee board has
also formed a finance working group who meet regularly to ensure financial planning and
performance monitors are in place.
OC has now outsourced our bookkeeping services to an external provider which has ensured
efficiency. and now it is embedded, is proving more cost effective.
In terms of maximising available resources, OC is increasingly seeking to share resources through
collaboration with partner5. for instance this year, we have launched a joint project with local youth
organisation Motiv8 to deliver an afterschool programme (via the Hampshire Active Health
Partnership and Energise Me). This partnership approach includes ensuring that the right agency is
taking the lead around the supportfor a young person who has been referred to us.
Balanced Growth Strategy
Key aim: To move toward5 o more sustainable income blend reducing the proportion of incomefrom
externolsources. Grow trading income and donationsfrom HNWI and corporote donors. New income
sources generoted fholiday artivities, Post 16provision etc).
Before considering our current position, it's important to note that the previous financial year, ending
March 2023, was a demandin8 year financially for Oarsome Chance, largely due to a change in
approach by Hampshire County Council around due diligence for Alternative Education Provisions
{APsl in the county. This caused them to pause new referrals to APS for over six months. We
completely supported the move, butfinancially this proved a challenge, a5thi5 was also a time when
the fundraising landscape was tougher than ever. By early 2023, the assessment5 of Hampshire
County Council, and all other referring schoo15 and local authorities we work with, showed that we
metthe new standards. and since then, strong growth in commissioning has been driven by a steady
stream of new referrals.
These accounts for year ending 31st March 2024 show us well on the wayto recovery, with a greatly
reduced deficit for the year. Looking ahead, our recovery continues. and we are projerted to end
year ending 31st March 2025 with a surplus. This will be aided further by major grant funding we
secured from the National Lottery Community Fund in May 2024 to develop a community
programme in school holidays, which will also potentially provide its own commissioning income
during school holiday periods.
This year has seen the highest level of delivery ever achieved for Oarsome Chance, translating to a
30% increase in commissioning income, underlining our rapid recovery. Commissioning and trading
income (see Canvas Works below) are both at their highest level ever, which when combined with
unrestritted grant funding for the year shows us already at 81% unrestrirted income, ourthree year
strategic goal as part of our route to sustainability.
Oarsome Enterprise.. Canvas Works, OCS trading arm which manufactures products from upcycled
sail materials, ha5 been through a significant period of growth and development, with income
increasing four-fold compared to the year before. This is due to the successful introduction of a new
commercial model for the enterprise, moving away from selling direct to Customers to a wholesale
model. Canvas Works, first partnership, with the Royal Navy & Royal Marines Charity IRNRMCI is now
well established, and new partnerships have been established with Clipper Round The World Race
and Ocean Republic (for the INEOS Britannia team), with more in the pipeline.
Oarsoff* chan￿ 15 a company limlted byguarantee Re8lstered in En8lond and Wale5 No 9829935 Reg15tered Charity No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
Develop Delivery Assets
Key aim: Torgeted investmentinfocilities ond 055ets tosupport, enhance and expondourprogramme
delivery.
Oarsome Chance operates out of two centres, in Gosport and Havant, and serves neighbourhood5 in
the 10-20% most deprived nationally {English Indices of Deprivation 2019).
Students attending The Boathouse in Gosport access carpentry and mechanics training in the fully
equipped workshop. An additional classroom adjacent to the Boathouse, continues to serve as home
to complimentary enrichment attivities, including a gym area, art and music. The Boathouse is also
home to the Canvas Works studio - our social enterprise whereby donated sails and ropes are
repurposed into products for sale {see 'Balance Growth Strategy, below). The converted boat shed
which overlooksthe boatyard provides a separate space forthe carpentry workshop and woodwork
activities.
Our workshop at the Apex centre, Leigh Park in Havant, is a birycle maintenance and mechanics
workshop. Additional space adjacent to the workshop is used for our engineering training, along with
other ad hoc projects, such as boat refurbishment, or donated vehicles for students to dismantle or
repair. We have also converted one of the upstairs rooms into a music studio, where students are
able to create and record music.
Investment in equipment and resources to further improve our facilities at both sites has included
the purchase of new vehicles, a Rl8 and day sailing boatfor our sailing activities, as well as an overhaul
of all'kiv items, and purchase of new and replacement outdoor artivity equipment.
INVOLVEMENT
Engaging Local Communities And Individuals
Key aim: To develop a relevant and cost-effective community offer.
With funding from Sport England'5 Together Fund. via Sported, we were able to trial delivering a
programme of activities during school holidays for local young people. Utilising the positive learning
from this work and feedback from an extensive community consultation, OC has designed a three
year plan to develop an 'Oarsome Community Programme,. This new programme will launch in
Summer 2024 and will deliver activities to young people with SEN during school holidays and
afterschool 5e55ion5.
Engaging Local Businesses
Key aim: Strong mbust local relationships with businesses supporting the work of 0¢7r50me Chance.
OCha5 e5toblished several long-term p(7rtnerships with locol business which ore providing resources
informotion and opportunities to the young people we support.
This year OC has made great strides in establishing strong partnerships with local business. This has
included establishing our RYA sailing operations centre at Langstone Quays resort, which allow5 US
to operate Sailing artivities out of our neighbouring Northney Marina. We have established a
relationship with HendV5 Group in Portsmouth who have hosted industry Vlsits for students and
provided a six-week work experience placement for one of our Year 11 students. We have also
arranged workplace visitsto construttion Sites via Blanchard Wells, and Barratt Homessent in a team
to our Boathouse site to overhaul our onsite garden.
Oarscrne Chance Is a company Ilmlted by Ruaiantee ReBi5tered in En8land and Wale5 No 9829935 Reg15tered Charlty No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
Encouraging Student5 To Shape Services
Key aim: Student5 to have Gctive and meaningful involvement in all elements of Oarsome Chance's
development.
Oc's strengths-based prartice has evolved in response to the need5 Of young people and our eth05
is about'doing with, and not for or to, Our beneficiaries are actively involved in the design, delivery,
and evaluation of our seNice. We achieve this by listening to them and helping them identify their
assets and skills. For instance, staff will undertake a co-produrtion approach with young people on a
daily basis: when young people arrive each daysupport staff have I:1 check-in time with them, which
8ives them the opportunity to not only 'settle in, and regulate, but also to direct where and what
they will be working on that day.
We ensure our programmes are flexible and responsive, which means we can explore what is
importantforeach student, per50nalisingsUPPOrtand co-create learning plans, which theyagreeand
own. We then re8ularly review the sUPPOrt offered with our beneficiaries, amending their
programme where possible.
We have also estsblished a young person's forum, Oarsome Voice, coordinated by our Wellbeing
Lead. Young people, either I:1 or in small groups. are consulted on differentthemes around areas of
the operation that direttly affect them. For instance, we underwent a consultation around our
Student behaviour code of conduct. and our cohort were an important part of an extensive
stakeholder tonsultation we undertook to inform the design of our Oarsome Community
programme.
Ensure Strong Robust Partnerships
Key aim: Strong robust local re1¢7tionship5 Wlth businesses agencies ond community gmups
supporting the work of OGrsome Chonce.
Our network of partners and collaborators continues to grow which has been facilitated by our CEO
becoming Co-chair of the Gosport Local Children's Partnership. In addition to the afterschool project
undertaken with Motiv8 {see above), we have worked closely with many other local organisations
and groups, including Rowner Community Trust, Gosport Community Hub, The Saints Foundation,
Off The Record, NXTand many more.
QUALITY
Measuring Our Impart & Telling Our Story
Key aim: Develop ond enhonce our impact met75urement to ensure we capture the difference we (Ire
making in studentself worth, engogement ond orhievement,
We are able to track tangible outputs from our 5ep4ices, such as the achievement of accredited
qualifications, as well as quantitative dats such as attendance and ses5i0n numbers (see below).
Monitoring more qualitative impact indicators, such as self-worth or resilience, is more of a challenge
for our cohort. We know that not all young people, particularly those with SEN or who are
neurodiverse, are conducive to being asked about how they are feeling or what they are thinking.
Furthermore, with the complexity of the makeup of our cohort (multiple ages and levels of
intervention) we found m05t 'out of the box, impact measurement unsuitable. In response to this
challenge, this year we developed and launched our own evaluation method using staff observation
to understand the impatt of the session5 for our beneficiarie5.
Oarsome Chance 15 a company Ilrnited by8uarantee Re8iStered In England and Wales No 9829935 Reglstered Charlty No 1167787

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
As a part of our daily reporting, support staff employ our'FSBA Metrid, which utilises our Feel Safe,
Belong and Achieve mission. The Metric is based on the premise thatwith our support young people
will move from feeling safe, to belongingi to reaching a mindset where they can achieve. With the
FSBA Metric, staff record howfaralong that path YP are- both when they arrived and when they left
atthe end of the dav5 5ession.The FSBA Metric help5to providean overall wellbeing metric (through
tracking the level of the FSBA metric over time) a5 well as revealing a pitture of a young person's
stability (through the increases and decreases in the difference between session arrival and end of
session Metrics over timel.
The FSBA Metric has been well re￿iVed by schoo15 and is proving effective at tracking progress of
individual young people, and the OC cohort as a whole.
Building Strong Leadership & Governance
Key aim: An empowered und accountable leadership teom and board of Trustees. A broad and
appropriate skill set within the trustee board.
Our Leadership Team is led by our CEO, who is an experienced senior manager with first-hand
experience of running provisions supporting vulnerable young people. Our two Project Managers
have a background working in senior posts in special needs provisions, with a high level of training
and skills acro55 education. safeguarding. best practice around activity provision. mental health and
trauma informed prattice. The Leadership Team works closely together on the implementation of
Strategic projerts and the operation as a whole. meeting regularly and holding termly planning away
days. All members of the Leadership Team have Designated Safeguarding Lead training.
Ourtrustee board are meeting identified keyskill areasto ensure governingteam expertise, including
non-profit sector leadership and business skills. Two new trustees have joined the board since l April
20231who betweenthem bring expertlse in Human Resourcesand Special Needs Education) bringing
the total number of trustee5 to nine.
Manage Risk Effettively
Key aim: Robust risk assessmentsfor all elements of Oorsome Chance's work.
Risk assessments are undertaken across all areas of the operation:
Individual young people
risk assessments are undertaken for each individual students in
conjunction with relevant schoollreferral partners
On site Health & Safety- OC retsins an external Health & Safety adviser who monitors and
reviews risk assessments across all elements of onsite delivery.
OC External activities- risk assessments are undertaken as a part of the Evolve framework
{via Hampshire Outdoors).
OC is re8ularly insperted by local authority and school referral partners as part of their due diligence
process.
Strong & Recognised Alternative Education + Post 16 Provider
Key aim: Offer a range of relevant and accessible opportunities for young people across t711 OC hub
site5.
Our core curricular programmes constitute three sessions a day between 9.30am and 2.30pm,
Monday to Friday for 39 weeks of the year. In the year ending March 2024, we worked with 51
students on our curricular programmes across our two centres, with students attending between I
OarsomE chan￿ Is a cornpany Ilrnlted bvBuaTantee Re8lstered in England and Wales No 9829935 Reglstered Charlty No 1167787

OARSOME CHANCE
Report of the Trustees
Forthe Year Ended 31 March 2024
and 3 days a week. In our term time programmes we delivered over 1900 participant days over the
year (where I participant day- I student attendingfor I dayl. Average attendance overthe year was
92%.
After a challenging period during 2022/23 in terms of an overhaul of due diligence assessments by
local authority and school, partners, we are now emerging as a trusted Alternative Provi5i0n in our
region. We are approved providersfor Hampshire County Council and Southampton City Council and
have recently consulted for Portsmouth City Council on their new AP framework.
Our Pre 16 Alternative Provision is now well established. and in September 2023 we launched a
refreshed Post 16 provision, Oarsome Pathways. This encompa55es a new P05t 16 framework and
curriculum designed to meet the needs of the significant sector of pre-16 students with Special
Education Needs, who even whengiven targeted pathwayssupport, will require an alternative option
for Post 16 education, beyond the mainstream options of Post 16 college, apprenticeships, or
employrnent. OC are now registered with the Department for Education as a special post-16
institution for children with special educational needs or disabilities (SEND) approved under settion
41 of the Children and Families Act 2014 in England and Wales (URN 1503161. The development of
the new Post 16 provision will be a specific focus forthe nextyear.
FINANCIAL REVIEW
Financial position
A5 detailed in the attached annual accounts. the net deficit of funds forthe yearwas £85,576 {2023:
£188,918) which comprises of a deficit of £69.427 on unrestricted funds12023 £209,254) and deficit
of £16,149 of restritted funds {2023 surplus of £20,336). Our reserves Stand at £174.034 in total,
including £56.074 restritted funds.
Reserves Policy
The Trustees have established a policy whereby the unrestricted fund5 not committed or invested in
tangible fixed a55ets ('the free re5erves'l held by the charity should be approximately £160,000 in
general funds. Atthis level, the Trustees feel thatthey would be able to continue the current activities
of the charity in the event of a significant drop in funding. At the end of the year, reserves comprise:
Restrirted funds
£56.074
Fund5 invested in fixed a55ets
£58.242
Free Reseples
£59,718
Total
£174,034
Oarsome Chance has had to utili5e it5 reserves to tackle the extraordinary sequence of events and
challenges that it has had to deal with overthe past few financial years and hence the reserves have
temporarily fallen as a result of this. The Charity is now working hard to rebuild its reserves to further
improve its resilience into the long term.
STRucfuRE, GOVERNANCE AND MANAGEMENT
The company is a company limited byguarantee and was formed on 19 Ortober 2015. It isgoverned
by its Memorandum and Article5 of Association.
Oar5crne CharKe 15 a comp3ny Ilrnlted byguarantee Registered in En8lènd and Wales No 9829935 Re8i5tered Charity No 1167787
io

OARSOME CHANCE
Report of the Trustees
For the Year Ended 31 March 2024
All directors of the company are also Trustees of the charity and there are no other Trustees. The
Trustees who served during the year are listed on Page l. Trustees are recruited for various skills they
bring to the organisation. New Trustees are issued with an induction pack and all are invited to visit
projects during the year to gain first-hand knowledge of the value of the service we provide.
The Board of Trustees meets 4 times a year. Day-to-day management 15 delegated to the
management team, led by the CEO.
STATEMENf OF TRUSTEES. RESPONSIBIUTIES
The Tru5tee5 are required under Charity law to prepare financial statements for each financial
period which give a true and fair view of the state of affairs of the Charity and of the financial
attivities of the Charity for that period. In preparing those financial statements, the Trustees are
required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP;
makejudgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed. subject to any material
departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the company will continue in business.
ThÈTrustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statements comply with the Companie5 Act 2006. They are also responsible for ensuring
that the company maintains an adequate system of internal control designed to provide
reasonable assurance that assets are safeguarded against material loss or unauthorised use and to
prevent and detect fraud and other irregularities.
ON BEHALF OF THE BOARD:
Signed:
Mr N Young
Chair of Trustees
Date:....
Oarsome Chance is a company lirnited by 8uarantee Reglstered In England and Wales No 9829935 Re8i5tered Charity No 1167787
li

Independent Examinerfs Report to the Trustees of Oarsome Chance
I reportto the charitytrustees on my examination of the accounts of the companyforthe yearended
31 March 2024, which are set out on pages 13 to 25.
Responsibilities and basis of report
As the charity trustees of the company land also its direttors for the purposes of company law} you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Art 20061'the 2006 ACV).
Having satisfied myself thatthe accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
your company's accounts a5 carried out under sertion 145 of the Charities Act 2011 {'the 2011 ACY).
In carrying out my examination I have followed the Dirertions given by the Charity Commission under
settion 145151 Ibl of the 2011 Art.
Independent examlnerfs statement
I have completed my examination. I confirm that no matters have come to my attention in connettion
with the examination giving me cause to believe that in any material respect:
Accounting records were not kept in respect of the company as required by settion 386 of the
2006 Act; or
The accounts do not accord with those record5; or
The accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view, which is not a matter
considered as part of an independent examination,. or
The accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities [applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 10211.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Marcus Cridland B.A.(Hons) F.C.A.
Scott Vevers Ltd.
Chartered Accountants and Registered Auditors
65 E35t Street
Bridport
Dorset
DT6 3LB
Date:
Qar50me Chance Is a company limited byguarantee ReRi5tered in England and Wales ND 9829935 Reglstered CharityND 1167787
12

OARSOME CHANCE
Statement of Flnancial Activities (Incorporatlng an Income and Expenditure Account)
for the Year Ended 31 March 2024
2024
Total
2023
Total
funds
Restricted Unrestricted
funds
funds
funds
Notes
INCOME
Income and endowments from:
Donations and legacies
116,796
87,897
204,693
207,792
Charitable activities:
Training and educational activities
477,885
477,885
365,301
Other trading activities:
Sale of goods and services by students
25,098
25,098
4,677
Investment income (Bank interest)
367
367
Total incoming resources
116,796
591,247
708,043
577.770
EXPENDITURE ON:
Raising funds
55,216
55,216
42,184
Charitable attivities
133,595
604,808
738.403
724.504
Total expenditure
133,595
660,024
793,619
766,688
Net income/lexpenditurel before transfers
116,7991
(68,777)
(85.5761 {188,918J
Transfers between funds
650
{650}
Net Movement in Funds for the year
{16,1491
169,4271
185,5761 (188,9181
Total Funds..
Brought Forward
72,223
187,387
259,610
448,528
Carried Forward
56,074
117,960
174.034
259,610
All incoming resources and resources expended derive from continuing artivities.
The notes on pages 16 to 25 form an integral part of these financial statements.
Oarsome Chance is 3 company nmlted by guarantee ReB15tered in England and Wales No 9829935 Re8i5tered Charity No 1167787
13

OARSOME CHANCE
Balance Sheet at 31 March 2024
2024
2023
Notes
Fixed Assets
Tangible assets
Investments
58.142
loo
58,242
86,260
loo
86,360
io
Current assets
Debtors
Cash at bank and in hand
li
102,057
262,825
364,882
119,013
218,994
338,007
Creditors: Arnounts falling due within one
year
12
1249,0901
1164,7571
Net current assets
115,792
173,250
Total assets less current Ilabllltles
174,034
259.610
The funds of the charity:
Restritted fund5
13
56,074
72,223
Unrestricted funds
117,960
187.387
Total charity funds
174.034
259.610
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year
ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect
to accounting records and the preparation of accounts:
The financial statements were approved by the Board of Trustees on
behalf by:
and signed on its
Mr N Young- Chair
Mr R Ashman- Treasurer
The notes on pages 16 to 25 form an integral part of these financial statements.
OarsornÈ ChaTrtt i5 a company limited by guarantee Registered in England and Wales No 9829935 ReglstÈTed Charity No 1167787
14

OARSOME CHANCE
ststement of Cash Flows
As at 31 March 2024
Notes
2024
2023
Net cash flow from operating artivities
17
31,583
(131,6481
Cash flow from investing activities
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed asset5
Interest received
122,6211
34,502
367
15,9141
2,168
Net cash flow from Investlng actlvltles
12,248
13,7461
Net increase l (decrease) in cash and cash equivalents
43,831
{135,394)
Cash and cash equivalents at l April 2023
218,994
354,388
Cash and cash equivalents at 31 March 2024
262.825
218,994
The notes on p3ge5 16 to 25 form an integral part of these financial statements.
Oarsome Chance Is a Company limited byguarantee ReEi5tered in En8land and Wales No 9829935 Registered char￿ No 1167787
15

OARSOME CHANCE
Notes to the Financial Statements
For The Year Ended 31 March 2024
General information
Oarsome Chance is a company, limited by guarantee, incorporated in England and Wales under the
Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Reference
and administrative details. Details of the charitvs operations are provided in the Report of the Trustees.
Accountln8 pollcles
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are a5 follow5:
a. Statement of compliance and basis of preparatlon
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared under the historical cost convention and includes the results of the charity's operations which are
described in the Trustees, Report and all of which are continuing. The financial statements are prepared
under the historical cost convention and in accordance with the Charities SORP {FRS 102}, the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
b. Accountlng conventlon
The financial statements have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected level of
income and expenditure for 12 months from authorising these financial statements. The budgeted income
and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going
oncern.
Income
All incoming resources are included on the Statement of Financial Activities when the charity is legally
entitled to the income and the amount can be quantified with reasonable accuracy. Income from grants is
accounted for on an accruals basis. All voluntary income and donations are accounted for on receipt by the
charity. The income from fund raising events is shown gross, with the associated costs included in
fundraising costs. Donated assets and services are included at open market value.
d. Classlfication of expenditure
Expenditure is included when a liability is incurred. All expenditure has been classified as costs of raising
funds, charitable activities (which includes operational programmes, support costs and governance costs)
and other costs.
Operational Programme Expenditure relates directly to carrying out the objects of the charity. Support
Costs are expenditure incurred directly in supporting charitable activities and projects.
Cost of r3i5ing funds include the costs of all fund raising events. Governance costs are those relating to the
charity's compliance with constitutional and statutory requirements.
e. Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Assets costing le55 than £l.000 are written off in
the year of purchase. Depreciation is provided at the following annual rates in order to write off each asset
over it5 estimated useful life:
Leasehold improvements
Fixtures, fitting5 and equipment
Bikes, Boats and Motor vehicles
over period of lease
16.67% to 50% straight line
- 0% to 25% straight line
f. Investments
Investments are stated at market value. Realised and unrealised gains and losses on investment5 are dealt
with in the Statement of Financial Activities. Investment income is credited to income on an accruals basis,
using dates of payment for dividend5. and daily accrual for interest.
Oarsome Chance Is a ¢ompany limited by8uarantee Registered in England and Wales No 9829935 Reglstered Charlty ND 1167787
16

OARSOME CHANCE
Notes to the Financial Statements
ForThe Year Ended 31 March 2024
Accountlng policie5 (continued)
g. Funds
All the funds have been analysed between restricted and unrestricted funds. Restricted funds are those
where the donor has imposed restrictions on how the fund may be used, but which do not prevent the
fund being spent. Unrestricted funds are those which are not subject to any special restrictions and they
can be used as the trustees decide. Designated funds are allocated out of unrestricted funds by the
trustees for specific purposes. The use of such funds Is at the trustees, discretion.
h. Penslons
The charity operates a defined contribution pension scheme. Contributions are charged to the Statement
of Financial Activities as they become payable in accordance with the rules of the scheme.
Flnanclal instruments
Clossificotion
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are cla55ified according to the substance of the contractual
arrangement entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the charity after deducting all of its liabilities.
Recognition ond meosurement
All financial assets and liabilities are initially measured at transaction price (including transattion costs),
except for those financial assets classified as at fair value through profit or loss, which are initially
measured at fair value {which is normally the transaction price excluding transaction costs), unless the
arrangement constitutes a financing transactions. If an arrangement constitutes a financing transartion,
the financial asset or financial liability is measured at the present value of the future payment5 discounted
at a market rate of interest for similar debt instruments.
Financial assets and liabilities are only offset in the statement of financial position when, and only when
there exists a legally enforceable right to set off the recognised amounts and the charity intends either to
Settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the
financial asset expire or are settled. b) the charity transfers to another party substantially all of the risks
and rewards of ownership of the financial asset, or cl the charity, despite having retained some. but not all,
significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
Donations and legacies
Restricted Unrestricted
2024
2023
Donations and gifts
GiftAid
Donations in kind
Grants received
10,789
395
480
76,233
87,897
10,789
395
480
193,029
204,693
4,443
22
116,796
116.796
203,327
207,792
Oar50me Chance 15 a company limited by guarantee Reglstered In England and Wale5 No 9829935 Reglstered Charty No 1167787
17

OARSOME CHANCE
Notes to the Financial Statements
ForThe Year Ended 31 March 2024
Training and educational activities
Restricted Unrestricted
2024
2023
Fees charged
Event and activity income
476,605
1,280
477,885
476,605
1,280
477,885
361,441
3,860
365,301
Raising funds
Restrlcted Unrestricted
2024
2023
Fundraising salaries and consultancy
Advertising and marketing
53,906
1,310
55,216
53,906
1,310
55,216
35,296
6,888
42,184
Charitable activlties
Restricted Unrestricted
2024
2023
Staff costs
Direct costs
108,440
23,662
1,493
412,710
116,501
48.860
26,737
604,808
521,150
140,163
50,353
26,737
738,403
492,158
150.935
47,385
34,026
724,504
Support costs
Governance costs
133,595
staff costs:
Dirett labour
Support staff
Training
Other staff costs
100,040
2,826
4.962
612
108,440
256,196
146,661
8,153
1,700
412,710
356.236
149,487
13,115
2,312
521,150
267,695
215.409
6.197
2,857
492.158
Direct costs:
Activity costs
Consultancy fees
Property costs
Depreciation
{Profitl / loss on disposal of tangible a55ets
14,909
1,250
6,902
601
45.180
15,762
39,923
17,908
12.2721
116,501
60.089
17.012
46,825
18.509
12.272)
140,163
44,045
32.086
48,096
24,833
1,875
150.935
23,662
Support costs:
Insurance
IT expenses
Motor and travel expenses
Office expenses
7,607
11,854
15,058
14,341
48,860
7,607
11,854
16,224
14,668
50,353
5,785
3,392
24,817
13,391
47,385
1,166
327
1,493
Governance costs:
Legal fees
Accountancy fees
2,365
24,372
26,737
2,365
24,372
26,737
34,026
34,026
Oar50me chan￿ Is a company IlmltÈd by guarantee ReEi5tered in England and Wales No 9829935 Registered Charity No 1167787
18

OARSOME CHANCE
Notes to the Flnancial Staternents
For The Year Ended 31 March 2024
Net income/ lexpenditure) for the year
This is stated after charging:
2024
2023
Depreciation of tangible fixed assets
(Profit) / loss on disposal of tangible assets
Independent examiner's remuneration
18.509
12,272)
24,833
1,875
staff costs
No remuneration or expenses were paid to trustees during the year. The costs of the remaining staff were:
2024
2023
Wages and salaries
Contract staff
Social security costs
Pension costs
479,329
27.058
40,302
9,850
556,539
457,558
16,258
36,611
7,779
518,206
One employee had earnings more than £60.000 {2023- one).
The number of staff employed by the charity duringthe year was a5 follows:
2024
2023
No.
Average full time equivalent number of staff employed
The average number of staff employed (headcount)
Tangible fixed assets
Leasehold
Fixtures
improve-
fittings &
ments equipment
Motor
vehlcles
Boats
Total
Cost or valuatlon
As at l April 2023
Additions
Disposals
As at 31 March 2024
9,513
6,121
{3,0021 {15,3271
12,632
6.030
21,357
93,493
12,000
146,6471
58,846
79,818
204,181
4,500
22,621
14,1881 (69,164)
80,130
157,638
Depreciation
As at l April 2023
Charge forthe year
Eliminated on disposals
As at 31 March 2024
5,590
1,888
{1,8271
5,651
13.550
65.720
6,860
123,8011
48,779
33,061
117,921
9,761
18,509
13.7861 (36,9341
39.036
99,496
(7,5201
6,030
Net bookvalue
As at 31 March 2024
6,981
10,067
41,094
58.142
As at 31 March 2023
3,923
7,807
27,773
46,757
86,260
Oarsome Chance 15 a company limited by Buarantee Reglstered In England and WalES No 9829935 ReB15tered Charty No 1167787
19

OARSOME CHANCE
Notes to the Financial Statement5
ForThe Year Ended 31 March 2024
io
Investments
2024
2023
Oarsome Chance (Trading) Ltd
loo
loo
Oarsome Chance (Trading) Ltd was formed to carry out trading attivities for the charity, which holds 100%
of the issued share capitsl. The company remained dormant throughout the period.
li
Debtors
2024
2023
Operational debtors
Other debtors and prepayments
87,948
14.109
102,057
107,575
11,438
119,013
12
Creditors: Amounts falling due within one year
2024
2023
Operational creditors
Social security and other taxes
Other creditors and accruals
22,435
12,177
214,478
249.090
13,747
9,740
141,270
164,757
Included within other creditors and accruals is commissioning income invoiced in advance for the first
quarter of 2024/2025.
OarsDme Chance is a cornpany lirnr(ed by guarantee Registered in England and Wale5 No 9829935 Re¥i5tered Charty No 1167787
20

OARSOME CHANCE
Notes to the Financial Statements
For The Year Ended 31 March 2024
13
Funds
Incoming
01.04.23 resources
Resources
expended
Net
movement Transfers 31.03.24
Restricted funds
BBC Children In Need
Berkeley Foundation
Bernard Sunley (Big Give)
CABWI Awarding Body
Charles Hayward Foundation
FatFace Foundation
Gisela Graham Foundation
Gosport Borough Council
Hampshire Active Health
Programme
Hampshire Office for Police
Crime Commissioner Safer
Communities Fund
Hants Playing Field5
Hedley Foundation
Henley Royal Regatta
Charitable Trust
HIWCF Including
Communities
Ironmongers, Company
National Lottery Community
Fund
The Openwork Foundation
5crewfix Foundation
SEHCO Fund
Society of the Holy Child
Jesus
Te5co Community Fund
Together Fund Angling
Trinity House Main Grant
Tudor Trust
Tudor Trust, Wellbeing Grant
5,426
12,581
15,426)
112,581)
{5,4261
112,5811
1,000
236
17351
4,148
11,024}
2,750
1,000
35,000
1,000
236
134,7641
17351
12991
11,0241
561
174
4,447
4,148
1,000
24
2,750
2,750
22,130
12,8481
19,282
19.282
29,500
129,5701
170)
70
2,304
12,307}
12,171)
131
{2,1711
3,254
1,083
6,281
10,000
{6,307}
3,693
9,974
4,552
14,399)
{4,3991
153
8,424
18,4251
18,4251
9,443
19.8211
19,8211
378
7,166
11.4381
11.4381
3.460
3.087
5.728
3.460
3,087
3,460
3,087
2,946
(2,9461
12,946)
1,125
(1,1251
(3,1181
{2,9061
{8491
1536}
1133,5951
11,125)
3,118
8,079
849
536
72,223
(2,906)
(849)
15361
{16,7991
5.173
116,796
650
56,074
Unrestrirted funds
Designated fixed asset fund
General fund
86,360
101,027
187,387
259,610
128,1181
58,242
27,468
59,718
16501 117,960
174,034
591,247
591,247
708,043
1660,0241
1660,0241
1793,6191
168,7771
168,7771
185.5761
Total
Oarsome Chance15 a company Ilmked byguarantee Registered in England and Wales No 9829935 Ae8istered Charity No 1167787
21

OARSOME CHANCE
Notes to the Financlal Statements
For The Year Ended 31 March 2024
13
Funds (contlnued)
Incoming
01.04.22 resources
Resources
Net
expended movement Tmnsftrs 31.03.23
2023
RestrirtedAunds
Alpkit Foundation
BBC Children In Need
Berkeley Foundation
Bernard Sunley
CABWI Awarding Bodv
Charles Hayward Foundation
Energise Youth (Energise
Mel
Gisela Graham Foundation
Hants OPCC Safer
Communities Fund
Hants Playing Fields
Hedley Foundation
Henley Royal Regatta
Charitable Trust
HIWCF Including
HIWCF Youth Recovery Fund
Ironmongers, Company
National Lottery Awards for
534
3,031
1,317
(534)
17,532)
(14,736)
(534)
2,395
11,264
9,927
26,000
4,000
30,000
5,426
12,581
(4,000)
246
(30,246)
(1,458)
(246)
fl,458J
2,019
561
1,325
(1,278)
(1,278)
(47)
1,000
1,000
28,298
f28,376)
(78)
34
983
3,254
{983}
3,254
3,254
(329)
10,000
(3,390)
6,610
6,281
(448)
(9,710)
4,552
(9,710)
8,424
4,552
5,031
4,679
8,424
946
(938)
(938)
(8)
National Lottery Community
The Openwork Foundation
Peter Harrison Foundation
Schroder Foundation
Society of the Holy Child
Jesus
Solent Supporting
Employment Fund
Sported Together Fund
The TabhairTru5t
Tesco Community Fund
Trinity House Main Grant
Tudor Trust
TudorTrust, Wellbeing Grant
9,534
7,500
(91)
(334)
(2,906)
(2.359)
9,443
7.166
(2,906)
(2,359)
9,443
7,166
2.906
2,381
(22)
22,725
(19, 779)
(19, 779)
2.946
7,385
(7,391)
(7,391)
4,773
(4,772)
1,125
5.000
15,000
1.125
4.633
4,368
(1,106)
19,452
1,125
8,079
849
536
72.223
3,446
(3,519)
1.642
51.887
(367)
{10.632)
(1,106)
161,427 (141,975)
884
Unre5trictedfvnds
De5ignatedfixed as5etfund
Generalfund
109,322
287,319
396,641
448,528
(22,962)
22,078
(884)
86,360
101,027
187,387
259,610
416.343
(624,713J (208,370)
416,343
(624, 713) (208,370)
577, 770 (766,688) (188,918)
Totol
Oarsome Chance is a company15m￿ed by EuaranteÈ Registered In England and Wales No 9829935 Reglstered Charlty No 116Y787
22

OARSOME CHANCE
Note5 to the Financial Statements
For The Year Ended 31 March 2024
14 Purpose of Designated and Restricted Funds
BBC Children In Need
Towards the core costs of running our weekly after school rowing club for local young people.
Berkeley Foundation
A grantto support the extended support towards the mental health well being of our beneficiaries.
Bernard Sunley (Big Give)
A grantto fund outdoor activity equipment.
CABWI Awarding Body
Funding for our Pathways Programme / careers coordination.
Charles Hayward Foundation
To fund the development of post 16 provision, including materials, staff salaries and workshop materials.
FatFace Foundation
Funding towards equipment for outdoor adventurous activities.
Gisela Graham Foundatlon
A grant towards boat building / carpentry.
Gosport Borough Council Community Fund
Funding towards delivering community events.
Harnpshire Active Health Programme
Weekly afterschool club5, in partnership with Motiv8.
Hampshlre Office for Pollce Crlme Commlssloner Safer Communltles Fund
Funding towards an outreach programme for vulnerable young people.
Hants Playing Fields
Funding for a boxing programme.
Hedley Foundation
Funding to purchase workshop tools and equipment.
Henley Royal Regatta Charitable Trust
Funding to 5UPPOrt delivery of rowing activities.
HIWCF Includlng Communltles
A grant towards a wellbeing fund foryoung people.
IronmonEers' Company
A grant towards a multi trades training programme.
National Lottery Community Fund
Funding to replace the kitchen at The Boathouse.
The Openwork Foundation
Funding for student-led projetts.
Screwfix Foundation
Towards refurbishing a Wellbeing Room for young people.
SEHCO Fund
Funding towards Music Mentor salary.
Society of the Holy Child Jesus
Towards additional pastoral care costs, including food and transport costs.
Tesco Community Fund
Funding for a fishing activity programme.
Together Fund Angling
Funding for boxing activities.
Trinity House main grant
A grant supporting the delivery of post 16 sail training.
Oar50rne Chance Is a company Ilmlted by8uaranteE ReBlstered In England and Wales No 9829935 Registered Charity No 1167787
23

OARSOME CHANCE
Notes to the Financial Statements
For The Year Ended 31 March 2024
14 Purpose of Deslgnated and Restrlcted Funds (contlnued)
Tudor Trust
A grant funding our Wellbeing programme for students.
Tudor Trust (Wellbein8 Grant)
A grant to support staff wellbeing initiatives.
Designated fixed asset fund
The designated fixed asset fund distinguishes the funds invested in fixed assets, which are not readily
available for funding on-going activities.
15
Analysis of fund balances between net assets
Total
Designated General Unre5trirted Restricted
funds
funds
funds
funds
Total
Tangible fixed assets
Investments
Current assets
Current liabilities
58,142
loo
58,142
loo
308,808
308,808
1249,0901 {249,090)
58,142
loo
364,882
{249,0901
174,034
56,074
Total funds
58,242
59,718
117,960
56,074
2023
Tangiblefixed a55ets
Investment5
Current ossets
Current liabilities
86,260
100
86,260
100
265, 784
265,784
(164, 757) (164,757)
86,260
loo
338.007
(164.757)
72,223
Totolfunds
101,027
187,387
72,223
259,610
16
Financlal Instruments
2024
2023
Categorisation of financial instruments:
Financial assets that are debt instrument measured at amortised cost
350,773
326,569
Financial liabilities measured at amortised c05t
249,090
164,757
Items of Income, expense• gains or losses
The total interest income for financial assets not measured at fair value through profit or loss is £367
12023: £nill.
Oar50rne Chance is a rornparry limited by guarantee Re8iStered in England and Wale5 No 9829935 Registered Charity No 1167787
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OARSOME CHANCE
Notes to the Financial Statements
For The Year Ended 31 March 2024
17 Reconciliation of net income / (expenditure} to net cash flow from operating artivities
2024
2023
Net income / (expenditure) for the year
{85,5761 (188,9181
Interest receivable
Depreciation and impairment of tangible fixed assets
(Surplus) / deficit on disposal of fixed assets
Ilncreasel / decrease in debtors
Increase / Idecreasel in creditors
(3671
18,509
24,833
12.2721
1,875
16,956 (100,2121
84,333
130.774
Net cash flow from operating activities
31,583 {131,6481
18 Pension commitments
The charity operate5 a defined contribution scheme for certain employees. The assets of the scheme are
administered by trustee5 in a fund independent from those of the charity. The pension cost charge for the
year represents contributions payable by the charity to the scheme and amounted to £9.850 12023:
£7,779).
19 Related party transactions
There were no related party transactions during the year.
Oarsome Chance Is a company Ilmlted by guarantee Reglstered In England and Wales No 9829935 ReE15terEd ChaTity ND 1167787
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