Ocean Road Centre Charity No. 1172910 Company No. 10714067 Trustees, Report and Ullaudited Account5 315t March 2025
CONTENTS Pages Trustees, Annual Report Ind¢pendent Examiner's Report Statem¢nt of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts Detailed Ststernent of Financial Activities 2to3 8t013 14to15 Page I
TRUSTEES AIYNUAL REPORT The Tntees. who also directo of the charlty for the pryes of the Companies Act 2006, prtgent their report wlth the wiaudited fAll1CIal ststements of the charity foi the period ended 31 Marcb 2025. REFERENCE AThD ADMINISTRATIVE DETAILS Company No. 10714067 Charity No 1172910 Registered OtTice Ocean Road Centre Ocean Road South Shields Tyllc & Wear NE33 2DW Direetor5 and Trustees The DirectOES of the clwitable ¢ompaDy are its Trustees for the purposes of clwity law. The followiDg Director% and TtecS served during the year. A Mcmillan F. Stephen5011 l Duncan L Campbell L Hodgson PA Mossa M A Siddiqu¢ Secretary E Stephenson Chair Vice Chair Treasurer (Resigned 5th 5ternber 2025 IResigned 3 1st DeCemr 2024) Independent Examlner JTHogg JFS Torbitt 58 Durham Road Birtley DH3 2QJ ORIECTIVES AND AcfiviTIES Thc purpose of the charity &s set out in its governing document- to furtb£r or benefit ptrople living ill and around Ocean Road and the wider community in South Shields. without distinction of sex. sexual orienlation, race or ot political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other Organisations in a COElltnon effort to advlCe ethatIOn aod to provide facilities in the intest5 of Sla1 wclfare for recreation and kisutL occupation with the objective of improvillg the ditiOnS of life for th£ r&sideDts. The main activities undertaken in relation to those purposes include various soci21, arts and cratis, youth and sports and fithess activities. The centre also has a thriving canteen and hiw out varioug rooms. The above activities are all for ihe bcncfit of the local residcnts of Ocean Road and the sum)UDding areas and ftir the public benefit. The trusfres have given duc consideration to the Charity Cornmtsston's guidancc on the public benefit requiremenL Ocean Road has a number of scrvices based in thc ceDtre which offers essential advice. support and guidance to the community. The Connexions service supports young people in training. edllc*ion and employment. The Day Scrvices is a service which operates daily activities for prople with l¢aming disabilities. YOUT Voice Counts which is an advocacy group forpeople with learning difficultie5 and finally Youth Service which provides youth activities and learning for young people. Page 2
ACHIEVEMENTS AND PERFORMANCE Ocean Road Ccntre coi1rtinoLse to create sctivities tbat meet the needs of thc commurrity of South Shiclds and South Tyneside. We continue to serv¢ the community and engage meDthers in many activiti¢s around Sports. Filness, Arts, Social Activities and Youth Work. We work with partners from vaTiOUS services that support and enhance the work on offer. With th¢ funding from the Youth Investment Fund to build a youth centre we have started to engage with young people and services from, the local conununity, creating activities for all young pcople aged 8 upwards with specific foc on young people aged 11-21 yeats. Working in parttEesbip to meet the most cballenging young people and most in need of support. Creating space which included a sports hall and youth rooms has and will continue to benefit the young people and community a5 a whole, bringing a new state of the art centre which is essential for the town. The additional staff which we employed last year has created more opportunities for the ¢entre and enabled us to be open for additional knurs of the weeL This included our Coll]ty café serving the people who are the most isolated to have a place for them to attend and meet new people whil¢ offering meals External funding has been sought to sustain the centre as we grow and extend the hours and more focL8 on the youth centre activities. The work is comtn¢Dcing in the ccntre and we aim to be fully operdtional by the end of 2025. FINANCIAL REVIEW The company's financial position at the end of the year is as sct out on pages 5 to 13 The trustees have detern]ined that Ocean Road Centr¢ still has suffi¢ient reserves to cover them for 2 yeaTS nuuiin2 costs. REPORTIIYG STRUCTURE The company is eligible for ex¢niption from audit under company law and has also always qualified under chaTity law and has therefore been subject to independent ¢xamination.Due to the grants received in respect of th¢ youth centr¢, our income has exceeded the £lm threshold in the year. We ha applied to the Cbarities Commission for clearance to remain exempt from the audit requirement on the basis that our fijture incom¢ will again reduce below the threshold. At the time of reporting, the reply from the Commisssion is pending. STRUCTURE, GOVERNANCE AND MANAGEMENT Th¢ Centre is governed by the Memorandum and Articles of Association registered at Companies House The recruitment and appointment of new tTUStees is gov¢rned by S12 of the Articlcs Of Association, which states that the Trustees may at any tinic appoint additional trust¢¢s, being persons who are considercd able to contribute to the proper management and conduct of the business of the Charity and further its objects. The Trust¢¢s are responsible for keeping pmper accounting records that disclose with reasonable accuTacy at any tiTlle the financial position of the chartty and to enable them to ensure tbat the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding tbe assets of the clwity and henc¢ taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepaied in accordance witEL th¢ provisions applicable to companies subject to the small companies, regime as set out in Part 15 of the Cotnpanies Act 2006 and in accordance with the Cbarities SORP (FRS 102). Signed on behalf of the board A. Mcmillan Trustee 4th December 2025 Page 3
YDEPENDENT EXAMtNERS REPORT Independent Examiner's Report to the trustees of Ocean Road Centre I report on the accounts of Ocean Road Ccjitre for thc period ended 31 March 2025 which comprise tb¢ Statemcnt of Financial Activities. the Summary Incom¢ and Expenditure AccounL the Balance Sheet and the related notes. Respective responsibilities of trnstees and examiner Th¢ trnstees (who are also directors of the ¢haTitable company for the purposes of company law) are responsible for the prepdration of the accounts. The trustees consider that an audit is not required for this y under the Charities Act 2011. s.144(2) (the 2011 Act) and that an independcnt examination is needed. Hiiving satisfied myself that the charity is not subject to audit under company law and is e]igilTrle for ind¢pendent examinatio it is my responsibility to- examine the accounts under s.145 of th¢ 2011 Act. follow PTocedures laid down ill the generaI Directions given by the Charity Con]mission lllld s.145{5){b) of the 2011 Act: of the 2011 ACL and state whether particular matters bave come to my attentio Basis of independent examiner's report My ¢xamination was carried out in accordance with the general d1ctionS given by the Charity Con]mission. An examination includes a review of the accounting rccords 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 &s trustees concerning any such matters. The proccdures 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 "tThe and fair" view and the report is limited to those matters set out in the statcment below. Reporting Structure I draw attention to the note on reporting structure in tbe Trustees, Report. The validity of my r¢port depends upon the outcotne of the submission to the Cbarity Commissioners in respect of this matter. My report is produccd on the &ssumption that the iwdit exemption will be granted Independent examiner's statement In connection with my examination. no matter has come to my attention: (l) which gives me reasonable cause to believe that in any nLqterial respect the requir¢ments: to keep acGounting cOrdS in accordance with the Companies Act 2006, s.386 and to prepare accounts which accord with the accounting record4 comply with the accounting requirements of section 396 of the Companies Act 2006 and with tbc methods and Prillciples of the Charities Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met". or (2) Éo which, in my opinion. attention should be drawn in order to enable a proper und¢TStanding of the accounts to b¢ reacbed. Mr Jol]n Trevor Hogg Chartered Accountant JFS Torbitt, 58 Durham Roa(L Birtley, DH3 2QJ 4th December 2025 Page 4
Ocean Road Centre STATEMENT OF FINANCIAL ACtIVlTIES for the year ended 31 March 2025 Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tot21 funds 2024 Notes Income and endowments Charitable activities Other trading activities Investment5 Other 157,555 101,036 2,964 3,025 1,605,433 157,555 115,039 2,964 1,608,458 155,994 106,529 2.396 89,881 14,003 Total 264,580 1,619,436 1,884,016 354,800 Expenditure on: Raising funds Other 43,959 193,719 12,128 154,234 56,087 347,953 57,135 215,360 Total 237,678 166,362 404,040 272,495 Net Income/{expenditure) 26,902 1,453.074 1,479,976 82,305 Net movement in funds 26,902 1,453,074 1,479,976 82,305 Reconciliation of funds: Total funds brought forward 508.753 152,520 661,273 578,968 Total funds carrled forward 535,655 1,605,594 2,141,249 661,273 Page 5
Ocean Road Centre SUMMARY INCOME AND EXPENDITURE ACCOUNT for the year ended 31 March 2025 2025 2024 Income 1,881.052 352,404 Interest 2,964 2,396 Gross income tor the year 1,884,016 354,800 Expenditure 404,040 272,495 Total expenditure for the year 275,495 Net income for the year 1,479,976 82,305 Page 6
Ocean Road Centre BALANCE SHEEF at 31 March 2025 Notes 2025 2024 Fixed Assets Assets under construction 946,687 Current Assets Stocks Debtors Cash at bank and in hand io li 330 20.625 1.257,903 1.278,858 1,380 87.011 600,429 688.820 Credltor5: Amount falling due within one year 12 84,296 27,547 Net Current asset5 Total assets less current liabilities Total net assets 1,194,562 661,273 2,141.249 661,273 the funds of the charity Restricted funds Restricted income funds 13 1,605,594 152.520 Unrestricted funds General funds Designated Funds 13 355,655 180,000 508,753 2.141.249 508,753 Reserrfes 13 2.141,249 661.273 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 2025 the company was entitted to exemption under section 477 of the Companies Att 2006 relating to Small companies. The members have not required the company to obtain an audit in accordance with settion 476 of the Companies Art 2006. The director5 acknowledge their responsibilitie5 for complying wtth the requirements of the Companie5 Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 4th December 2025 And signed on its behalf by can Trustee P.ege 7
Ocean Road Centre NOTES TO THE ACCOUNT5 l Accounting policies Basis of preparation The financial statement5 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 IFRS 102)-Charities SORP IRF51021 (effective l January 2015)- The Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5102) and the Companies Act 2006. Change in b35is of accounting or to pyevious 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 charty These are unrestritted funds earmarked by the trustees for particular purposes These are available for use subject to restrictions imposed by the donor or through terms of an appeal Designated funds Restricted funds Income Recognition of Income Income is included in the Statement of financial Artivities {SOFAI when the charity becomes entitled to, and virtually certain to receive. the income and the amount of the income can be measured with sufficient reliability Where income has related expenditure the income and related expenditure is reported gross in the SOFA Voluntary intome received by way of grants. donations and Bifts is included in the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Income from tax reclaims is included in the SOFA at the same time as the gift/donation to which it relates. These ale only included in income (with an equivalent 3mount in expenditure) where the benefit to the Charity is reasonably quantifiable. measurable and Fnaterial The value of any volunteer help received is not included in the accounts This is included in the accounts when receivable This includes any gain or loss resulting from revaluing investments to market value at the end of the year Income with related expenditure Donations and legacies Tax reclaims on donations and gifts Donated service5 and facilities Volunteer help Investment income G3insl(1055es) on revaluation of fixed assets GaitTrs/llosses1 on investment assets Assets under construction This includes any gain or loss on the saleof investments Expenditure on assets under construction is capitalised at cost and will be transferred to the appropriate category when complete and an appropriate depreciation policy will be introduced. Page S
Ocean Road Centre NOTES TO THE ACCOUNTS Expendlture Recognition of expenditure Expendlture is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and 15 reported as part ofthe expenditure to which it relates. These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. These comprise the costs incurred by the Charity in the delivery of its artlvities and services in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure is accounted for on an artual paid basis plus an accrual for grant5 that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constrtutional and statutory requirements of the Charity. including any auditlindependent examination fees, costs linked to the strate8ic management of the Charity. together with a share of other administration costs. These are support costs not linked to a particular activity Expenditure o raising funds Expenditure on charitable activities Grants payable Governance costs Other expenditure Taxation The charity is exempt from Corporation Tax on its charitable activities Stock$ 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 charitywould 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 equlvolents Cash and cash equivalent5 comprise cash at bank and on hand. demand deposit5 Wlth bank5 and other short-term highly liquid investments with original maturities of three month5 Or le55 and bank overdrafts. Trade and other creditors Short term creditor5 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 pami and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provision5 are normally recogni5ed at their settlement amount after allowing for any trade discounts due. Page 9
Ocean Road Centre NOTES TO ThE ACCOUNTS Pension costs The company operat25 a defined cor*tributiDn plan for its employee5. 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 reco8nised 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 cornpany is a private company limited by guarantee and consequently doe5 not have share capital. 3 Income from charitable artivities Unrestricted Re5trlcted Totsl 2025 2025 2025 Totsl 2024 Letting5 income 157.555 157,555 155,994 4 Income from other trading activities Unrestrfcted Restrictsd 2025 2025 Total 2025 Totsl 2024 Canteen income Section Income 101.036 101,036 14.003 115,039 94,901 11,628 106,529 14.003 14.003 101,036 5 Income from investments Unrestricted Réstrirted 2025 2025 Total 2025 Total 2024 Interest recelvable 2,964 2.964 2396 6 Other income Unrestrirted Restrfrted 2025 2025 Total 2025 Total 2024 Grants and donations Mi5cellaneou5 Income 2.975 1,605,433 50 1,608.408 50 89,881 3,025 1,605.433 1,608,458 89,881 Page 10
Ocean Road Centre PIOTES TO THE ACCOUNTS 7 Expenditure on rai5in8 funds Unrestrlrted Restrlcted 2025 2025 Totsl 2025 Total 2024 Fundmising trading cost5 Canteen income costs Section Income costs 43,959 43,959 12,128 56,087 42.301 14,834 57.135 12,128 12.128 43.959 8 Other expenditure Unrestricted Restiicted Total 2025 2025 2025 T¢)tal 2024 Employee costs Motor and travcl costs Premises costs General admiriistration costs Legal and professional costs Independent examiner- yearend and report -payroll and other Other legal and professional 118.926 iio 56,353 13.581 139,501 258.427 iio 61.705 16.117 134.705 1.002 63.867 10,502 5.352 2.536 1.440 9.933 221 154,234 347,953 3.088 221 193,719 6,845 2,128 1,476 215,360 9 Stsff costs Unrestricted Restrirted 2025 2025 Total 2025 Totsl 2024 Salaries and wages Pension costs staff entertaining Staff training Uniform costs 115,525 137368 252,893 129,406 1466 4.314 2.373 20 1,377 I,oio 794 190 755 139,501 258.427 134,705 20 343 667 190 118.926 io Stocks 2025 2024 Finished Goods 330 1.380 11 Debtors 2025 2024 Trade debtors Prepayments: 19.425 10,485 75,326 1.2 87,011 Building expenditure in advance Other 1.200 20.625 12 Creditors: Arnounts falling due within one year 2025 2024 Other creditors 84,296 27,547 Page 11
Ocean Road Centre NOTES TO THE ACCOUNTS 13 Movemerrt in fijnds 2024 Incoming Resources Resour$ Transfers Expended 2025 Restrlrted funds: Restricted Incorne Fund5: Restricted Funds 152,520 1.619.436 166,362 1,605.594 Totsl 152,520 1,619,436 166,362 1,605.594 Unrestrkted funds: General funds De$ignated funds: Furnlshing fvnd Redundancy pro¥i50n Total Designated 508,753 264,580 237,678 (180.0001 355,655 £150.000 £30,0(M] 180.000 150.000 180.000 Totsl unresrtlcted Total funds 661273 IA84,016 404.040 2.141.249 Purposes and restrittion5 in relation to the funds: Restrirted funds: Section funds CLLOR fund YIF Fund 2025 67.439 7,91)0 1,530.255 I,60594 2024 68155 7184 77181 152,520 Funds arising from separate section5 in the centre External funds for operations Funding Annexe for Youth Attivities Icapitsl and Revenue) Designated fund5'. Furnishing fund has beeTr Set aside for the costs of new furniture for the new annexe and the existing centre The redundancy fund is established to rneet the potential costs of redundanry if the centre was to close. 14 Analysls ot net assets between funds Unrestrlrted Restricled Totsl Fixed Assets Net current asset5 Net assets 946.687 813.141 1.605,5 946.687 1,348,796 2,141,249 535,655 535,655 Page 12
Ocean Road Centre NOTES TO THE ACCOUNTS 15 Commltments Operating Lease Commitments There were no operating lease commitments Pension cornmltments 2025 2024 The pension c05t charge to the company amounted to 4,314 2.373 16 Related party disclosures Controlling party The company is limited by guarantee and has no share capital," thus no single paty Controls the company. Page 13