## **Ocean Road Centre**
**Charity No. 1172910**
**Company No. 10714067**
**Trustees' Report and Unaudited Accounts**
**31st March 2024**
## **CONTENTS**
|**CONTENTS**||
|---|---|
||Pages|
|Trustees’ Annual Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Summary Income and Expenditure Account|6|
|Balance Sheet|7|
|Notes to the Accounts|8 to 13|
|Detailed Statement of Financial Activities|14 to 15|
Page 1
## **TRUSTEES ANNUAL REPORT**
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 March 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Company No. 10714067 Charity No 1172910 Registered Office Ocean Road Centre Ocean Road South Shields Tyne & Wear NE33 2DW
## **Directors and Trustees**
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
A.McMillan Chair E Stephenson Vice Chair I Duncan Treasurer L Campbell L Hodgson PA Mossa M A Siddique **Secretary** E Stephenson
## **Accountants**
TPA Connect Ltd 38 Stanhope Road South Shields NE33 4BT
## **OBJECTIVES AND ACTIVITIES**
The purpose of the charity as set out in its governing document - to further or benefit people living in and around Ocean Road and the wider community in South Shields, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
The main activities undertaken in relation to those purposes include various social, arts and crafts, youth and sports and fitness activities. The centre also has a thriving canteen and hires out various rooms.
The above activities are all for the benefit of the local residents of Ocean Road and the surrounding areas and for the public benefit. The trustees have given due consideration to the Charity Commission's guidance on the public benefit requirement. Ocean Road has a number of services based in the centre which offers essential advice, support and guidance to the community. The Connexions service supports young people in training, education and employment. The Day Services is a service which operates daily activities for people with learning disabilities. Your Voice Counts which is an advocacy group for people with learning difficulties and finally Youth Service which provides youth activities and learning for young people.
Page 2
## **ACHIEVEMENTS AND PERFORMANCE**
We continue to serve the community and engage members in many activities around Sports, Fitness, Arts, Social Activities and Youth Work. We work with partners from various services that support and enhance the work we do.
This year we were very fortunate to receive funding from the Youth Investment Fund from central government DCMS to build a youth centre which will be built as part of the current community centre building. This will serve the young people in extending their current provision. We have been funded for a sports hall, youth rooms, interview rooms and a youth activity space. Revenue funding was also sought as part of the bid to support youth workers for the first six months. The building will aim to be finished by March 2025.
Normal activities have continued and have all been successful with new groups joining us throughout the year. Our community café continues to grow from strength to strength providing affordable meals and a place for the lonely and isolated to meet and socialise in a relaxed and friendly environment.
The staff members have grown with an additional receptionist, activity worker and 4 youth workers. They will enhance the work that we are doing so we are competent in the future in providing the services we work so hard to provide
We received small funds from various funders to support the work we do which continues to make the offering affordable and accessible for all.
## **FINANCIAL REVIEW**
The company's financial position at the end of the year is as set out on pages 5 to 13
The trustees have determined that Ocean Road Centre still has sufficient reserves to cover them for 2 years running costs.
The trustees have obtained funding from the Youth Investment Fund and planning for the construction of an annexe to be used for the expansion of the charity’s youth activities. Construction commenced after the year end and is expected to be completed during 2025.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Centre is governed by the Memorandum and Articles of Association registered at Companies House The recruitment and appointment of new trustees is governed by S12 of the Articles Of Association, which states that the Trustees may at any time appoint additional trustees, being persons who are considered able to contribute to the proper management and conduct of the business of the Charity and further its objects.
The Trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
A. McMillan
Trustee 17th December 2024
Page 3
## **INDEPENDENT EXAMINERS REPORT**
## **Independent Examiner's Report to the trustees of Ocean Road Centre**
I report on the accounts of Ocean Road Centre for the period ended 31 March 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the accounts under s.145 of the 2011 Act;
follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act;
of the 2011 Act; and
state whether particular matters have come to my attention.
## **Basis of independent examiner's 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures 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 examiner's statement**
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with the Companies Act 2006, s.386 and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the
Charities Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met: or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr John Trevor Hogg Chartered Accountant
TPA Connect Ltd
38 Stanhope Road
South Shields NE33 4BT
17th December 2024
Page 4
|**Ocean Road Centre**
**STATEMENT OF FINANCIAL ACTIVITIES**
**for the year ended 31 March 2024**
**Notes**
**Income and endowments**
**from:**
Charitable activities
3
Other trading activities
4
Investments
5
Other
6
**Total**
**Expenditure on:**
Raising funds
7
Other
8
**Total**
**Net income/(expenditure)**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted Restricted**
**Total**
**Total**
**funds**
**funds**
**funds**
**funds**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
155,994
-
155,994
108,271
94,901
11,628
106,529
167,832
2,396
-
2,396
2,013
12,700
77,181
89,881
36,950
265,991
88,809
354,800
315,066
42,301
14,834
57,135
97,336
215,360
-
215,360
182,250
257,661
14,834
272,495
279,586
8,330
73,975
82,305
35,480
8,330
73,975
82,305
35,480
500,423
78,545
578,968
578,968
508,753
152,520
661,273
614,448|
|---|---|
Page 5
## **Ocean Road Centre**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT for the year ended 31 March 2024**
|Income
Interest
Gross income for the year
Expenditure
Total expenditure for the year
Net income for the year|**2024**
**2023**
**£**
**£**
352,404
313,053
2,396
2,013
354,800
315,066
272,495
279,586
272,495
279,586
82,305
35,480|
|---|---|
Page 6
## **Ocean Road Centre BALANCE SHEET at 31 March 2024**
|**Notes**
**Current Assets**
Stocks
10
Debtors
11
Cash at bank and in hand
Creditors: Amount falling due within one year
12
Net Current assets
Total assets less current liabilities
Total net assets
the funds of the charity
Restricted funds
13
Restricted income funds
Unrestricted funds
13
General funds
Reserves
13|**2024**
**2023**
**£**
**£**
1,380
1,180
87,011
6,379
600,429
578,643
688,820
586,202
27,547
7,234
661,273
578,968
661,273
578,968
661,273
578,968
152,520
78,545
508,753
500,423
661,273
500,423
661,273
578,968|
|---|---|
## Total funds
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 17th December 2024
And signed on its behalf by
I Duncan Trustee
Page 7
**Ocean Road Centre NOTES TO THE ACCOUNTS**
## **1 Accounting policies Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)-Charities SORP (RFS102) (effective 1 January 2015)- The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies.
## **Fund Accounting**
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity Designated funds These are unrestricted funds earmarked by the trustees for particular purposes Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal
## **Income**
Recognition of Income is included in the Statement of financial Activities (SOFA) when the Income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA Donations and Voluntary income received by way of grants, donations and gifts is included in legacies the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material Volunteer help The value of any volunteer help received is not included in the accounts Investment income This is included in the accounts when receivable Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market revaluation of value at the end of the year fixed assets Gains/(losses) on This includes any gain or loss on the sale of investments investment assets
Page 8
**Ocean Road Centre NOTES TO THE ACCOUNTS**
## **Expenditure**
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not linked to a particular activity
## **Taxation**
The charity is exempt from Corporation Tax on its charitable activities
## **Stocks**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **Trade and other 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.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other 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.
Page 9
**Ocean Road Centre NOTES TO THE ACCOUNTS**
## **Pension costs**
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown as accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
## **2 Company status**
The company is a private company limited by guarantee and consequently does not have share capital.
## **3 Income from charitable activities**
|Lettings income
**Income from other trading activities**
Canteen income
Section Income
**Income from investments**
Interest receivable
**Other income**
Grants and donations
Miscellaneous Income
Subscriptions|**Unrestricted Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
155,994
-
155,994
108,271
**Unrestricted Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
94,901
-
94,901
88,952
-
11,628
11,628
78,880
94,901
11,628
106,529
167,832
**Unrestricted Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
2,396
-
2,396
2013
**Unrestricted Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
12,700
77,181
89,881
14,611
-
-
-
802
-
-
-
21,537
12,700
77,181
89,881
36,950|
|---|---|
## **4 Income from other trading activities**
## **5 Income from investments**
## **6 Other income**
Page 10
## **Ocean Road Centre NOTES TO THE ACCOUNTS**
## **7 Expenditure on raising funds**
|_Fundraising trading costs_
Canteen income costs
Section Income costs
**Other expenditure**
Employee costs
Motor and travel costs
Premises costs
General administration costs
Legal and professional costs
Independent examiner - year end and report
-furlough claims
-payroll and other
Other legal and professional|**Unrestricted**
**Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
42,301
-
42,301
36,503
-
14,834
14,834
60,833
42,301
14,834
57,135
97,336
**Unrestricted**
**Restricted**
**Total**
**Total**
2024
2024
2024
2023
£
£
£
£
134,705
-
134,705
104,903
1,002
-
746
746
63,867
-
63,867
58,821
10,502
10,502
13,882
1,680
-
1,680
1,300
-
-
-
-
2,128
-
2,128
2,598
1,476
-
1,476
-
215,360
-
215,104
182,250|
|---|---|
## **8 Other expenditure**
## **9 Staff costs**
|Salaries and wages
Pension costs
Staff entertaining
Staff training
Uniform costs
**10 Stocks**
Finished Goods
**11 Debtors**
Trade debtors
Prepayments:
Building expenditure in advance
Other
**12 Creditors:** Amounts falling due within one year
Other creditors|**Unrestricted**
**Restricted**
2024
2024
£
£
129,406
-
2,373
-
1,377
-
794
-
755
-
134,705
-|**Total**
**Total**
2024
2023
£
£
129,406
103,071
2,373
1,258
1,377
324
794
-
755
250
134,705
104,903
**2024**
**2023**
**£**
**£**
1,380
1,180
**2024**
**2023**
**£**
**£**
10,485
5,263
75,326
-
1,200
1,116
87,011
6,379
**2024**
**2023**
**£**
**£**
27,547
7,234|
|---|---|---|
Page 11
## **Ocean Road Centre NOTES TO THE ACCOUNTS**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|13|Movement in funds|
|2023|Incoming|Resources|Transfers|2024|
|Resources|Expended|
|£|£|£|£|£|
|Restricted funds:|
|Restricted Income Funds:|
|Restricted Funds|78,545|88,809|14,834|-|152,520|
|Total|78,545|88,809|14,834|-|152,520|
|Unrestricted funds:|
|General funds|500,423|265,991|257,661|-|508,753|
|Total funds|578,968|354,800|272,495|-|661,273|
|Purposes and restrictions in relation to the funds:|
|Restricted funds:|
|Section funds|Funds arising from separate sections operating in the centre|68,155|
|CLLOR fund|External funds for operations|7,184|
|YIF Fund|Funding Annexe for Youth Activities|77,181|
|152,520|
|14|Analysis of net assets between funds|Unrestricted|Restricted|Total|
|£|£|£|
|Net current assets|508,753|152,520|661,273|
**----- End of picture text -----**
Page 12
**Ocean Road Centre NOTES TO THE ACCOUNTS**
## **15 Commitments**
## **Operating Lease Commitments**
There were no operating lease commitments
|**Pension commitments**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|The pension cost charge to the company amounted to|2,373|1,258|
## **16 Related party disclosures**
## _Controlling party_
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 13