## **OODIL**
## **Annual Report and Accounts**
30 September 2024
Charity Registration Number 1186851
## **Contents**
|**Reports**||
|---|---|
|Reference and administrative details of||
|the charity, its trustees and advisers|1|
|Trustees’ report|3|
|Independent examiner’s report|10|
|**Accounts**||
|Statement of financial activities|11|
|Balance sheet|12|
|Principal accounting policies|14|
|Notes to the accounts|18|
OODIL
**Reference and administrative details of the Charity, its Trustees and advisers**
**Trustees** K A Amato K W Barrett S M B Barrett Sister T M B Lenahan CRSS Sister M J F O'Sullivan CRSS T J Tully M C Webb **Registered address** 130 Wood Street London EC2V 6DL **Telephone** 01245 604 108 **Charity (CIO) registration** 1186851 **number Independent examiner** Buzzacott Audit LLP 130 Wood Street London EC2V 6DL **Property managers** Nuvest Limited t/a Belvoir Chelmsford Registration No: 5224544 19 Duke Street Chelmsford Essex CM1 1HL **Cash managers** Flagstone Investment Management Limited Clareville House 26-27 Oxendon St London SW1Y 4EL **Bankers** Reliance Bank Limited Faith House 23-24 Lovat Lane London EC3R 8EB **Conveyancers** Dyer and Crowe Limited 22 Duke Street Chelmsford Essex CM1 1HL
OODIL **1**
## **Trustees’ report** Year ended 30 September 2024
The trustees present the annual report and accounts of OODIL (the “charity”) for the year ended 30 September 2024.
OODIL is an acronym for Out Of Darkness Into Light, reflecting our desire to bring hope into people's lives when they are struggling with difficult circumstances. OODIL was created by means of a charitable donation in the form of properties and capital from The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord (from here on referenced as “CRSS”) in the year ended 30 September 2020.
The accounts accompanying this report are the accounts of the Charitable Incorporated Organisation (CIO) which is registered with the Charity Commission under charity Registration Number 1186851.
The accounts have been prepared in accordance with the accounting policies set out in the attached accounts and comply with the charity’s Constitution, applicable laws, applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the requirements of 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 United Kingdom and Republic of Ireland (FRS 102).
## **Objects, aims, objectives, activities and relevant policies**
## **Charitable objects and aims**
The charity’s objects, as set out in its constitution, are restricted specifically, in each case only for the public benefit:
1. to carry on the business of:
- a. providing and managing housing.
- b. providing assistance to help house people; and
- c. associated facilities, amenities and services related to such housing.
for people in necessitous circumstances, people in financial need or for the relief of older, disabled (whether physically or mentally) or chronically sick people in the city of Chelmsford, the town of Colchester and the surrounding areas upon terms appropriate to their means; and
2. such other charitable purposes according to the law of England and Wales as the charity trustees shall from time to time determine.
OODIL's objects are to provide and manage housing and give assistance to help house people and to provide associated facilities, amenities and services related to such housing for people in necessitous circumstances, people in financial need or for the relief of older, disabled (whether physically or mentally) or chronically sick people in the city of Chelmsford, the town of Colchester.
OODIL **2**
**Trustees’ report** Year ended 30 September 2024
OODIL wishes to address some of the housing issues facing vulnerable families and individuals in the Chelmsford and Colchester areas by offering them a suitable and affordable home to rent which gives tenants stability and dignity. Our aim is to be understanding and empathetic to the needs and concerns of our beneficiaries and to enable them to build a positive and fruitful future for themselves and their families eliminating the worry of eviction or poor housing standards.
The vision is to secure a housing stock and to ensure that before it is offered for rental, each property is renovated to a good standard and all services and amenities are checked and functioning safely and properly. The overseeing of the renovations is carried out by the trustees.
A tenancy will be offered to individuals or families who have experienced difficulties in their lives and who need the stability and security of a good home and a good ethical landlord to enable them to put down or further develop roots. They will be people of limited means and in particular circumstances who will fully benefit from being an OODIL beneficiary. They will be people who have the capacity to manage running a house and a home without extra-ordinary support. Critically we prove to them that they are worthy and entitled to a full place within society to be treated with respect, dignity and to be given the opportunities that so often simply their backgrounds have prevented them from accessing.
Homes that will be made available will be:
- ♦ Available to people receiving state benefit
- ♦ Offered for rental at the lower end of the market price within benefit levels
- ♦ Made available without the additional need for guarantors, unreasonable deposits or other conditions (determined on a case-by-case basis)
We support our tenants where necessary to help them integrate into their new surroundings. We assist with moving, furnishings, setting up services and other ad-hoc support, signposting and supporting them to get to the right resources to assist with benefits, education, building a social network etc.
We inform our tenants of the facilities in their home and the amenities and support in the local area by means of a new home pack in their property. Tenants are expected to maintain good standards and we expect and ensure our tenants treat their home and neighbourhood with respect and pride.
We ensure that our properties gain a reasonable return so that the charity can grow and be self-sufficient eliminating the need for further funds.
## **Public benefit**
It has been shown that by offering people a dignified and secure home the whole family will flourish within the community. They can lead fulfilling lives with opportunities for the individuals, parents and their children that may not have been available to them before.
OODIL **3**
## **Trustees’ report** Year ended 30 September 2024
## Beneficiaries to date include:
Single mothers fleeing domestic abuse. These individuals could not reasonably afford to rent in the private sector and the state could not provide adequate accommodation in the area where roots had been established and children had finally settled at school.
Families living in overcrowded accommodation provided by the state where adults had to sleep on floors or sofas to enable children to use the bedrooms. Again, these families could not afford the necessary accommodation in the private sector and the state could not provide adequate housing in the area where they have an established support network of schools and medical care etc.
Refugee families; These families fled their war-torn homeland to the shores of the UK where they were housed in temporary hotel accommodation. Our properties can provide a safe and secure home without the need for large deposits and personal references. These families can use their new home as a steppingstone, allowing them to concentrate on building their new life in the UK, secure schooling and employment, forge new friendships and support networks all of which is very difficult to achieve from a hotel room where children and adults were forced to share a room with no cooking facilities.
A third-party charity supporting vulnerable individuals sometimes with their children. These individuals and children are seeking a safe haven to call home while they regain confidence and wellbeing. With the support of this charity and the property provided by OODIL many have had the opportunity to improve their emotional and financial wellbeing and re-emerge into the local community with the strength and confidence to rebuild their lives in a more positive way.
Our beneficiaries would require significant additional public support if they were not assisted by OODIL. All the trustees are conversant with the Charity Commission’s guidelines concerning Charities and Public Benefit and have considered them when assessing our activities. We therefore believe that we have complied fully with the duty in Section 4 of Part 1 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Commission.
## **Principal activities during the year**
The current tenants are the original tenants of the properties and the benefits of multi-year occupancy in secure and affordable accommodation is apparent. Our newest family who moved in the August 2023 are settling in well and integrating in their new community.
The properties continue to be managed by Belvoir a system that seems to be working well for us and our tenants. Our new financial controller is in place and again this seems to be having a positive impact on day-to-day control.
The properties are inspected regularly by Belvoir and one of the trustees and any maintenance issues that have not been reported are noted at this point and rectified accordingly. This ensures properties are kept in good condition and the homes of our tenants are the quality we would like them to be, it also ensures that our tenants are respectful and take good care of their homes
## **Volunteers**
There are currently no needs within ODDIL for an ongoing pool of Volunteers for activities. The Trustees complete the vast majority of activities, although, for example, during a house move additional volunteers may be utilised to assist.
OODIL **4**
**Trustees’ report** Year ended 30 September 2024
## **Protection of Children and Vulnerable Adults**
The trustees recognise the absolute necessity of ensuring the protection and safety of all those people whom the charity serves. All the trustees have been checked by the Disclosure and Barring Service (DBS). We can confirm that we have a written policy for safeguarding our vulnerable beneficiaries, and that there have been no serious incidents in respect to safeguarding to report during this last year.
## **Fundraising policy**
The charity benefits from a major donation from CRSS. ODDIL aims to achieve best practice in the way in which it communicates with donors and other supporters including providing a letter of comfort to CRSS each year.
The charity takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of professional fundraisers.
The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year, the charity received no complaints about its fundraising activities.
## **Investment policy**
There are no restrictions on the charity’s power to invest. The charity’s investments are managed by one of ODDIL’s trustees, with the authorisation of all other trustees, the primary focus is on gaining interest on retained funds.
## **Achievements and Performance**
To date the charity has secured six properties within the Chelmsford area, all of which are tenanted. The properties have been purchased, renovated and tenants have been assisted with their relocation and then assisted to settle and integrate into the community.
These properties initially were in varied states of repair. Work ranged from full refurbishment including kitchen, bathrooms, rewiring, complete redecoration, and flooring as well as external improvements to the garden areas etc. to moderate amounts of work - such as a new bathroom and redecoration being required to bring the property up to a good standard. Work was commissioned according to the policies of the charity, and all necessary approvals and safety certificates were obtained.
The tenants who have been housed to date support this philosophy and have made significant steps forward already within the time they have been housed with OODIL. Tenants have been able to use the houses as a platform and catalyst to move themselves and their families forward.
At the end of last year, we housed a second Afghan family. This family of seven now have a safe and secure home from where, during this year, they have begun to rebuild their lives within their new community. The children are settled at new schools and have formed new friendships.
OODIL **5**
## **Trustees’ report** Year ended 30 September 2024
## **Financial review**
## _**Results for the year**_
A summary of the results of the year ended 30 September 2024 can be found on page 11 of this annual report and accounts.
Total income for the year amounted to £81,565 (2023 – £59,490). Income from charitable activities for the year totalled £73,330 (2023 – £55,268). Interest receivable totalled £8,235 (2023 – £4,222).
Expenditure totalled £110,134 (2023 – £105,980). Expenditure on charitable activities includes the cost of maintaining properties which amounted to £103,045 (2023 – £99,764) and support costs of £6,231 (2023 – £5,700). The cost of raising funds comprises the fees payable to Flagstone Investment Management Limited who manage the charity’s short term cash deposits.
Net expenditure for the year and the net decrease in funds was £28,569 (2023 – £46,490).
## _**Reserves policy and financial position**_
The trustees have examined the requirement for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of the charity’s work, the level of free reserves should be approximately equal to two years’ ongoing expenditure. The trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources due to timing differences in income flows, adequate working capital to cover core costs, and will allow the charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented. In particular, at the current time, the reserves need to be sufficient to enable the charity to operate in the exceptional circumstances created by the cost of living and economic crisis. The impact to the housing market, as a result of the recent budget from the new Labour government has yet to be seen, so we need to ensure we are ready to react depending on which way the market turns.
The balance sheet shows total funds of £2,179,432 (2023 – £2,208,001). Of these funds, £1,909,458 (2023 – £1,995,808) are represented by freehold properties and other tangible fixed assets. A decision was made to separate these funds from the general fund in recognition of the fact that assets are used in the day-to-day work of the charity or by organisations for charitable purposes in line with the charity’s objects, and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.
Funds totalling £55,128 (2023 – £57,068) have been designated, or set aside, by the trustees for specific purposes. Further details of these funds are given in note 14 to the accounts.
Funds which are available to support the work of the charity in the future are those shown on the balance sheet as the general fund and total £214,846 (2023 – £155,125). The trustees believe that these free reserves are adequate but not excessive and consistent with the charity’s reserves policy outlined above.
OODIL **6**
**Trustees’ report** Year ended 30 September 2024
## **Future plans**
There are no prospective purchases currently in the pipeline. We are allowing our rental income to accumulate funds and are keeping a watchful eye on the market. This decision will be made based on the need and the housing market position as the year progresses.
The key objectives for the coming year are therefore:
1. Continue to maintain the current active properties to a good standard.
2. Support the housed tenants appropriately as per their individual needs.
3. Continue to stay focused and knowledgeable on the property market so correct purchases can be made at the correct price.
4. Explore ideas and routes to housing the correct beneficiaries so we can expand our knowledge and understanding for future beneficiaries,
## **Structure, Governance and Management**
The charity is a Charitable Incorporated Organisation (CIO) governed by a Constitution dated and agreed by the trustees on 27[th] Sept 2019 and registered with the Charity Commission on 9 December 2019
## **Organisational Management**
In terms of Civil Law, the trustees of the charity are legally responsible for the overall management and accounting of the charity and for safeguarding the assets of the charity. They receive no remuneration or expenses for their service as trustees. The trustees meet once every six weeks on average to review developments within the charity, and to take decisions. The trustees are supported by professional advisers, letting agent. Other professionals are consulted as appropriate.
The charity's strategy and overall management control is set and completed by the trustees. The trustees are made up of the original founders who are experienced personnel within varying sectors and all of whom can add value to the charity.
The majority of the operational running of the charity is also undertaken by the trustees. Control is via formal discussion and decisions at trustee meetings as well as day to day operational communication and information sharing. A financial controller is now in place to manage finances and day-to-day accounting.
Polices are in place to ensure the charity operates effectively, safely and conforms to required legislation. Polices also ensure the trustees and the beneficiaries are protected from any detriment. All of the trustees have undertaken a Disclosure and Barring Service Check as some of our beneficiaries may be deemed vulnerable.
The trustees feel they are fully informed and equipped to effectively operate the charity. The Board of trustees have had regard to the guidance issued by the charity Commission on public benefit.
Trustees have delegated responsibilities and try to keep updated within their areas on recommended best practice regarding appropriate policy requirements.
OODIL **7**
**Trustees’ report** Year ended 30 September 2024
## **Risk Management**
The unknown impact of our new governments financial planning and energy price crisis has clearly presented us with challenges and threats to the well-being of our charity and its activities, which could not have been foreseen. The trustees recognise their responsibility for the management of risks faced by the charity and its beneficiaries.
We continue to review and update our risks as well as the documents and procedures put in place.
We note above the financial and operational effects of the cost-of-living crisis. Over and above these, the areas identified for particular attention within our risk management strategy are:
- ♦ Governance and management
- ♦ Maintenance and Health and Safety
- ♦ Financial
- ♦ Litigation
- ♦ Reputational
The trustees have continued to operate within the key areas of risk controls which include:
- ♦ Regular and frequent meetings of the trustees with formal agendas and minutes.
- ♦ Comprehensive strategic planning, budgeting and management accounting.
- ♦ Established organisational structures and lines of accountability.
- ♦ Regular meetings with professional advisors to whom all our business is transparent.
- ♦ Establishing a clear authorisation and approved levels of decision-taking and spending; and
- ♦ Putting in place vetting procedures required by law for the protection and safeguarding of the vulnerable.
Timeframes exist for the annual monitoring of the risk assessments.
The key risks which the charity could face during the year are as follows:
- ♦ A severe economic downturn that leads to multiple tenants being unable to fulfill their rental payments leading to financial impact for the charity.
- ♦ Individual circumstances that impact a tenant that leads to them being unable to fulfill their rental payments leading to financial impact for the charity.
- ♦ Challenges and difficulties for one or more tenants that take up the trustees’ time preventing the normal operation and growth of the charity.
OODIL **8**
**Trustees’ report** Year ended 30 September 2024
## **Statement of Trustees’ Responsibilities**
The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity of the incoming resources and application of resources of the charity for that period. In preparing these accounts, the trustees are required to:
- ♦ select suitable accounting policies and then apply them consistently.
- ♦ observe the methods and principles in the Statement of Recommended Practice FRS 102 (Accounting and Reporting by Charities) (the Charities’ SORP);
- ♦ make judgements and estimates that are reasonable and prudent.
- ♦ state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- ♦ prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations and the provisions of the charity’s Constitution. 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
## **Key Management Personnel**
The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.
None of the trustees receive any remuneration or reimbursement of expenses in connection with their duties as trustees or key management personnel.
Signed on behalf of the trustees:
**Sinéad Barrett** Trustee
Approved by the trustees on: 29 July 2025
OODIL **9**
## **Independent examiner’s report** Year ended 30 September 2024
## **Independent examiner’s report to the trustees of OODIL**
I report to the trustees on my examination of the accounts of OODIL (the charity) for the year ended 30 September 2024, which are set out on pages 11 to 20.
## **Responsibilities and basis of report**
As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
- ♦ accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- ♦ the accounts do not accord with those records; or
- ♦ the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Peter Mackereth, Chartered Accountant 30 July 2025 Independent Examiner Buzzacott Audit LLP 130 Wood Street London EC2V 6DL
OODIL **10**
**Statement of financial activities** Year ended 30 September 2024
|Notes|**2024**
**£**|2023
£|
|---|---|---|
|**Income from:**
Charitable activities
1
Investments and interest receivable
2
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
. Upkeep of the charity’s properties
3
. Support costs
4
**Total expenditure**
**Net expenditure and net movement in funds**
6
**Reconciliation of funds:**
Total funds brought forward at 1 October 2023
Total funds carried forward at 30 September 2024|**73,330**
**8,235**|55,268
4,222|
||**81,565**|59,490|
||**858**
**103,045**
**3,831**|516
99,764
5,700|
||**107,733**|105,980|
||**(26,169)**
**2,208,001**|(46,490)
2,254,491|
||**2,181,832**|2,208,001|
All recognised gains and losses are included in the above statement of financial activities.
All of the charity’s activities derived from continuing activities in each of the above two financial years.
OODIL **11**
**Balance sheet** 30 September 2024
|Notes|
**2024**
**£**|**2024**
**£**|2023
£|2023
£|
|---|---|---|---|---|
|**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Short term deposits
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due
within one year
11
**Net current assets**
**Total net assets**
**The funds of the charity:**
Unrestricted income funds
. General funds
. Tangible fixed assets fund
12
. Designated fund
13|
**3,854**
**242,931**
**38,008**|**1,909,458**
**272,375**|—
176,239
42,373|1,995,808
212,193|
||**284,793**
**(12,419)**||218,612
(6,419)||
||
||||
|||**2,181,833**||2,208,001|
|||**217,247**
**1,909,458**
**55,128**||155,125
1,995,808
57,068|
|||**2,181,833**||2,208,001|
Approved by the trustees and signed on their behalf by:
**Sinéad Barrett** Trustee
Approved on: 29 July 2025
OODIL **12**
**Principal accounting policies** 30 September 2024
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
## **Basis of preparation**
These accounts have been prepared for the year to 30 September 2024, with comparative information given in respect to the year ended 30 September 2023.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
The accounts 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nearest pound.
## **Critical accounting estimates and areas of judgement**
Preparation of the accounts requires the trustees to make significant judgements and estimates.
The items in the accounts where these judgements and estimates have been made include:
- ♦ Estimating the useful economic life of tangible fixed assets for the purposes of determining the depreciation charge.
## **Assessment of going concern**
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.
The trustees do not expect material concerns to arise over the charity’s financial position or going concern as a result of the macroeconomic climate and the current cost of living crisis. The trustees have concluded that the charity will have sufficient resources to meet its liabilities as they fall due.
With regard to the next accounting period, the year ending 30 September 2025, there are no significant areas that affect the carrying value of the assets held by the charity and the trustees are therefore content that the charity is, and will remain, a going concern.
The trustees will continue to keep both income and expenditure under review.
## **Income**
Income is recognised in the period in which the charity is entitled to receipt, the amount can be measured reliably and it is probable that the income will be received.
OODIL **13**
**Principal accounting policies** 30 September 2024
Income comprises donations, rental income from properties, interest receivable and income from other sources, including any surplus on disposal of tangible fixed assets.
Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations and grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Donations received in kind (including any donation of land and buildings) are recognised at their fair value at the date of the gift, which is deemed to be open market value.
In accordance with the Charities SORP FRS 102 volunteer time is not recognised.
Rental income is recognised when due under the relevant tenancy agreement.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
The surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proceeds net of sale costs and the net book value of the asset immediately prior to disposal. It is accounted for once legal completion of the disposal has taken place.
All other income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value and accounted for on an accruals basis.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is stated inclusive of irrecoverable VAT.
All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs.
The costs of raising funds comprise the costs of managing the charity’s short term deposits.
The costs of charitable activities comprise expenditure on the charity’s primary charitable purposes as described in the trustees’ report. Such costs include: the costs of maintaining and operating the charity’s properties.
## **Support and governance costs**
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures including governance costs associated with the governance arrangements of the charity
OODIL **14**
## **Principal accounting policies** 30 September 2024
including costs of independent examination and the necessary legal procedures for compliance with statutory requirements.
All expenditure on support and governance is allocated to the charitable activities of providing accommodation to the beneficiaries.
## **Tangible fixed assets**
All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.
- ♦ Freehold land and buildings Freehold land and buildings owned are used wholly or mainly for, private residential accommodation. Such land and buildings are included in the accounts at cost. Their value and condition are reviewed annually by the trustees, who are satisfied that their residual value is not materially less than their book value. These properties are depreciated over 50 years on a straight line basis.
- ♦ Building improvements Expenditure in relation to improvements to the buildings is capitalised and depreciated over a three year period on a straight line basis.
- ♦ Fixtures and fittings
- Furniture and fittings are capitalised and depreciated at 20% per annum on cost in order to write off each asset over its estimated useful life.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
## **Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
## **Fund structure**
The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the trustees.
OODIL **15**
**Principal accounting policies** 30 September 2024
The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets.
The designated funds are monies set aside out of general funds and designated for specific purposes by the trustees.
Details of funds are given in the notes to the accounts.
## **Services provided by the trustees**
For the purposes of these accounts, no monetary value has been placed on administrative and other services provided by the trustees.
OODIL **16**
**Notes to the accounts** Year ended 30 September 2024
|**1**
**2**
**3**
**4**
**5**|**Income from: Charitable activities**|**2024**
**£**|2023
£|
|---|---|---|---|
||Rental income|**73,330**|55,268|
||**Income from: Investments and interest receivable**|**2024**
**£**|2023
£|
||Interest on short term deposits
Bank interest|**8,195**
**40**|3,686
536|
|||**8,235**|4,222|
||**Expenditure on: Upkeep of the charity’s properties**|**2024**
**£**|2023
£|
||Property running costs
Depreciation of tangible fixed assets|**14,755**
**88,290**|25,083
74,681|
|||**103,045**|99,764|
||**Support costs**|**2024**
**£**|2023
£|
||Bank charges
Legal and professional fees
Governance costs (note 5)|**491**
**940**
**2,400**|60
2,800
2,840|
|||**3,831**|5,700|
||**Governance costs**|**2024**
**£**|2023
£|
||Legal andprofessional services|**2,400**|2,840|
OODIL **17**
**Notes to the accounts** Year ended 30 September 2024
## **6 Net expenditure and net movement in funds**
This is stated after charging:
|**Net expenditure and net movement in funds**
This is stated after charging:|||
|---|---|---|
||**2024**
**£**|2023
£|
|Depreciation
Independent examiner’s remuneration (excluding VAT)
. Independent examination services – current year
. Independent examination services – previous year
. Accountspreparation – currentyear|**88,290**
**2,400**
**-**
**600**|74,681
2,600
240
2,800|
## **7 Staff costs, key management personnel and transactions with trustees**
The charity did not employ staff during the year (2023 – none).
No employee earned £60,000 per annum or more (including taxable benefits) during the year (2023 – none).
The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charitable company on a day-to-day basis. They received no remuneration in connection with their duties as trustees or their role as key management personnel during the year (2023 – none).
## **8 Taxation**
The OODIL is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
## **9 Tangible fixed assets**
|**Tangible fixed assets**|||||
|---|---|---|---|---|
||Freehold
properties
£|
Property
improvements
£|Fixtures
and
fittings
£|
**Total**
**£**|
|**Cost**
At 1 October 2023
Additions
At 30 September 2024
**Depreciation**
At 1 October 2023
Charge for the year
At 30 September 2024
**Net book values**
At 30 September 2024
At 30 September 2023|1,978,666
-|202,394
1,940|
8,313
-|**2,189,373**
**1,940**|
||1,978,666|204,334|
8,313|**2,191,313**|
||78,840
39,573|
111,004
47,054|
3,721
1,663|
**193,565**
**88,290**|
||118,413|
158,058|
5,384|
**281,855**|
||1,860,253|
46,276|
2,929|
**1,909,458**|
||1,899,826|
91,390|
4,592|
**1,995,808**|
OODIL **18**
**Notes to the accounts** Year ended 30 September 2024
## **10 Debtors**
|**Debtors**|||
|---|---|---|
||**2024**
**£**|2023
£|
|Rental income receivable
Prepayments|**647**
**3,206**|—|
||**3,854**|—|
## **11 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2024**
**£**|2023
£|
|Rent received in advance
Accruals|**2,821**
**11,998**|1,019
5,400|
||**14,819**|6,419|
## **12 Tangible fixed assets fund**
|**Tangible fixed assets fund**|||
|---|---|---|
||**2024**
**£**|2023
£|
|At 1 October 2023
Net movement in the year
**At 30 September 2024**|**1,995,808**
**(86,350)**|1,547,500
448,308|
||**1,909,458**|1,995,808|
The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets. A decision was made to separate this fund from the general fund of the charity in recognition of the fact that the tangible fixed assets are essential to the day-to-day work of the charity and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.
## **13 Designated fund**
|**Designated fund**|||
|---|---|---|
||**2024**
**£**|2023
£|
|At 1 October 2023
Net movement in the year
**At 30 September 2024**|**57,068**
**(1,940)**|580,057
(522,989)|
||**55,128**|57,068|
During an earlier year the charity’s trustees set aside £1,000,000 out of unrestricted funds for the future purchase of properties to meet the needs of vulnerable families and individuals in the Chelmsford and Colchester areas. At 30 September 2023, £57,068 remained set aside. During the year to 30 September 2024, the charity has incurred expenditure on refurbishments for a cost of £1,940, leaving the remaining designated funds at £55,128 at 30 September 2024.
OODIL **19**
**Notes to the accounts** Year ended 30 September 2024
## **14 Analysis of net assets between funds**
Fund balances at 30 September 2024 are represented by:
||**General**
**fund**
**£**|**Designated**
**fund**
**£**|**Tangible**
**fixed assets**
**funds**
**£**|**Total**
**2024**
**£**|
|---|---|---|---|---|
|Tangible fixed assets
Net current assets
**Total net assets**|**-**
**217,247**|**-**
**55,128**|
**1,909,458**
**-**|**1,909,458**
**272,375**|
||**217,247**|**55,128**|
**1,909,458**|**2,181,833**|
||General
fund
£|Designated
fund
£|Tangible
fixed assets
funds
£|Total
2023
£|
|Tangible fixed assets
Net current assets
Total net assets|—
155,125|—
57,068|
1,995,808
—|1,995,808
212,193|
||155,125|57,068|
1,995,808|2,208,001|
## **15 Related party transactions**
Sister Moira O'Sullivan, a trustee of the charity, is also a trustee of a Charitable Incorporated Organisation, The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord, Charity Registration Number 1167869, which provided the initial donations to form this charity in the year ended 30 September 2020.
There were no related party transactions requiring disclosure in the current year (2023 – none).
## **16 Membership of the CIO and members’ liability**
The members of the CIO are its charity trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else.
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
OODIL **20**