## **OCEANS OF HOPE UK**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
**Bright Brown Limited Chartered Accountants Exchange House, St Cross Lane, Newport, Isle of Wight, PO30 5BZ**
## **OCEANS OF HOPE UK**
## **CONTENTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
||**Page**|
|---|---|
|Charity information|1|
|Trustees' report|2 - 3|
|Independent examiner's report|4|
|Receipts and payments account|5|
|Statement of assets and liabilities|6|
## **OCEANS OF HOPE UK**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|**Address:**|Front & Rear Basement Flat||
|---|---|---|
||20 Brunswick Square||
||HOVE||
||BN3 1EH||
|**Trustees:**|Nicola Claire Elizabeth Kaufman|Chair|
||David Allsop|Trustee|
||Mikkel Anthonisen|Trustee|
||Kathryn Turnbill|Trustee|
||Rebecca Puttock|Trustee|
|**CEO:**|Robert Munns||
|**Charity number:**|1180234||
|**Independent examiner:**|Gavin Kelly FCCA, ACA||
||Bright Brown Ltd||
||Exchange House||
||St Cross Lane||
||Newport||
||Isle of Wight||
||PO30 5BZ||
|**Bankers:**|Barclays Bank UK PLC||
- 1 -
## **OCEANS OF HOPE UK**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report together with the financial statements of the charity for the period ended 31 March 2024. The financial statements comply with the charity’s governing document, Charity Commission guidance on receipts and payments accounts, and applicable law.
The legal and administrative information set out on page 1 forms part of this report.
## **Overview**
This report is to be read in conjunction with our annual return for the UK charities commission.
Oceans of Hope UK operates sailing events for people with Multiple Sclerosis (MS). We operate in many locations, using donated or rented sailing vessels with qualified Captains and crew in a number of locations around the UK and worldwide.
Our aim is to bring a sense of purpose, community and purpose to our participants. We enable opportunities for learning new skills, physical activity and opportunities for interaction with other people who have MS.
We have actively recruited additional administrative volunteers along with ‘at event’ volunteers. A short training event took place in March.
At the start of the year we bought all of our volunteer crew together on numerous zoom calls to invite more participation from them. We also invited more ownership from them too. Oceans of Hope challenge is now much bigger than two people and we need as much support as we can to develop our activities. Volunteers and skippers contributed so much to the success of this year's calendar and we cannot thank them enough for their valiant effort and support. We have actively recruited new event organisers and hosts that will be responsible for more in 2025. Our team contributed in so many ways to make each particular event as big a success as possible. Whether it was skippering a boat or opening the gate and welcoming guests, we truly feel that we have a great commuinity with a lot to give.
The captains and the crew pulled together and worked tirelessly and it was my privilege to watch such caring people work for our reason why. This being to help everybody with Multiple Sclerosis achieve magnificence again.
## **Activities in 2024**
2024 was both a year for both consolidation and development of a variety of events for people with Multiple Sclerosis
This year we have sailed In nine countries, with the amazing team effort from our organisers in New Zealand, Netherlands, Belguim and the UK. We also sailed with our friends Sail MS In Mexico.
Our main event this year was the Sail the Solent event in July, Our plan was to take over 100 people sailing during these two weeks and we very nearly got there. Bad weather on two days restricted us from breaking the 100 mark.
We offered people the unique opportunity of getting on a boat with others with MS, Finding out what they want to achieve and heloping them achieve it on the day. We did this on a super boat called Kotari from Port Solent with much support from the owner and Premier Marinas.
## **Our hopes for the future**
A big difference this year was making flotillas smaller and more intimate. It is our plan to increase that to three in 2025, in Sardinia, Scotland and Greece.
Oceans of Hope UK have adequate funds in reserve to provide a secure platform to operate in a similar way for the next two years. However, it is my aim to bring together a more sustainable fundraising / partnership plan for the next stage of our development.
We have actively recruited new event organisers and hosts that will be responsible for more in 2025.
We have welcomed Nicola Kaufman as our new chair. Congratulations to Nicola and the continued personal thank you from not only myself but the board of trustees and all our participants.
- 2 -
## **OCEANS OF HOPE UK**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **Financial review**
During the period the charity received income of just over £86,000 (2023: £99,000), and paid expenses of just over £67,000 (2023: £79,000), giving rise to a surplus of just over £40,000 (2023 just over £20,000).
At 31 March 2024 the charity holds £58,427 (2023: £40,375) in unrestricted free reserves. Reserves are held for the ongoing benefit of the charity to allow for the charity to meet expenses as they fall due, and to provide support for the charity to meet the unanticipated costs or circumstances that all organisations must contend with from time to time.
## **Principle sources of fundraising**
During the period the charity received income of donations of £2,025 from the Bembridge golf club fundraiser, £24,000 from Superyacht charity and £3,200 from Royal Yachting Association. These will be carried forward for future events
## **Structure, Governance and Management**
The charity is a Charitable Incorporated Organisation governed directly by Charity Law and regulated by the Charity Commission of England and Wales. It operates under its constitution.
In selecting individuals for appointment as appointed charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Oceans of Hope UK are an affiliate member of the RYA Sailability program.
## **Statement of trustees responsibilities**
The trustees 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 Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
- 3 -
## **OCEANS OF HOPE UK**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
I report on the accounts of the charity for the period ended 31 March 2023, set out on pages 5 to 6.
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to 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 Commissioner. 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 the seeking of explanations from trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in any material respect the requirements:
- (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gavin Kelly, FCCA, ACA Bright Brown Ltd Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
Date: 27 January 2025
- 4 -
## **OCEANS OF HOPE UK**
## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted**
**funds**
**£**
**RECEIPTS**
Event income
30,982
Grants and donations
49,676
**TOTAL RECEIPTS**
80,658
**PAYMENTS**
Wages
13,571
Travel and subsistence
7,578
Merchandise costs
1,298
Equipment (boat) hire
32,310
Fuel and moorings
2,483
Food
12
Other
905
Prizes and gifts
600
IT and telephone
1,729
Subscriptions
150
Marketing
380
Insurance
961
Printing, Postage and stationery
205
Consultancy
-
Finance and accounting
540
Governance expenses
10
Exchange differences
(126)
**TOTAL PAYMENTS**
62,606
**NET INCREASE/(DECREASE) IN CASH FUNDS**
18,052
Cash funds brought forward
40,375
**CASH FUNDS CARRIED**
**FORWARD**
**1**
58,427|**Restricted**
**fund**
**£**
-
5,694
5,694
-
-
-
4,500
-
-
-
-
-
-
-
-
-
-
-
-
-
4,500
1,194
-
1,194|**Total**
**Total**
**2024**
**2023**
**£**
**£**
30,982
60,093
55,370
38,950
86,352
99,043
13,571
12,727
7,578
6,070
1,298
684
36,810
51,364
2,483
522
12
476
905
603
600
-
1,729
533
150
140
380
-
961
870
205
101
-
2,400
540
996
10
1,068
(126)
485
67,106
79,039
19,246
20,004
40,375
20,371
59,621
40,375|
|---|---|---|
Approved by the trustees and signed on their behalf by:
- 5 -
## **OCEANS OF HOPE UK**
## **STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted**
**funds**
**£**
**1 CASH FUNDS**
Current account
57,532
Euro account
895
58,427
**2 OTHER MONETARY ASSETS**
None
**3 ASSETS RETAINED FOR THE CHARITY'S OWN USE**
None
**4 LIABILITIES**
None|**Restricted**
**fund**
**£**
1,194
-
1,194|**Total**
**2024**
**£**
58,726
895
59,621
**Current**
**value**
**£**
-
**Current**
**value**
**£**
-
**Amount**
**Due**
**£**
-|**Total**
**2023**
**£**
40,375
-|
|---|---|---|---|
||||40,375|
||||**Current**
**value**
**£**
-|
||||**Current**
**value**
**£**
-|
||||**Amount**
**Due**
**£**
-|
- 6 -