Project Northmoor Limited Registered Charity number 1192314 Company number 13002586 TRUSTEES ANNUAL REPORT and ACCOUNTS for the year to 31 December 2023
Project Northmoor Limited Charity Registration CompanyRegistration 1192314 13002586 LEGAL AND ADMINISTRATIVE INFORMATION Charity Trustees and Company Oirectors Nigel Pearson Simon Sheldon Amelia Kya22e Chlef Executlve Julia Saunders Contact Details Registered Address.. The Charity School House Church Road, Blewbury Oxon OXII 9PY Telephone: E-mail.. Website: 07766 060603 info@projectnorthmoor.org xfofd entr forf ntas Independent Examlner M J Wright FCA For and on behalf of Just Audit and Assurance Ltd 37 Market Square, Witnev Oxon OX28 6RE Bankers Metrobank One Southampton Row London WC18 SHA
Project Northmoor Limited (limited by guarantee) Trustees, Report The Trustees presenr their annu31 report together with ihe finanical si3iements of the charity for the period ended 31 December 2023, whtch are prepared to meet the requirements for a Director's ieport and account for Companies Act purposes. The reference and administrarive information on page I lorm5 pari of this ieport. The financial staiements comply wihte the Charities Act 2011, rhe Companies Act 2006. the Mernorandum and Articles of Assoc)ation and Accounting and Reporting by Charilies.. Siaiement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic ol Ireland IFRS 1021. Registered Chartty 1192314 and Company 130J2586 The Charity Trustees and Company Difeciors Ihereafter 'the Trustees'l submit iheir annual report and accounts lor the year ended 31st December 2023. Governance and Internal Control Project Northmoor Limited (hereafter 'ihe ChariiVI is tonstituted by a Memorandum and Articles ol Association dated 12th November 2020 Is a re8lStered charity No. 1192314 and a company limited by Guarantee No 13002586. Alm5 01 the Company The aims fof which the Project Nofthrnoor ts'mited is tablished for the public benefit are- l. A major aim when we set up was to preserve 20 Northmoor Road. Oxford as the former home ol JRR Tolkien and where The Hobbit and The Lord of the Rings were written. We did not succeed in our bid to by the house through public donaiions this time but remain interested In the futufe ol the house. We were also established with the aim of advanclng the public knowled8e and appreciation of the life. faith and works of JRR Tolklen and the Inklin85. With our interest in entoura8in8 new creativity, we also aim to advance edvtation In the arts and crafts Including the art5 01 literalure and language. This includes courses in creative writing. illustration. screenwriting and arts more 8enerallv. Organlsatlonal Structure The Company is governed by a board of Trustees. Three were recruited at the beBinning of the charity's existence for their complimentary skills and l(Kal knowledge. In addition to their enihusia5m for the Inklings. Simon Sheldon is a professional accountant lor a non-profit. Amelia Kyazze brin85 her creative writing teachin& expertise and 18 years, experience working for charities. Nigel Pearson is ihe director of a sm311 medical charity and has vast experience of international relations, as well as bting Oxford-based.
Project Northmoor Limited (limited by guarantee) Trustees, Report The Chief ExecLStive and first employee is Dr Julia Saunders who is an author writing under the names Julia Goldin& Joss Stirling and Eve Edwards. She prefers to use her professional name julia Golding when working in a creative context. She worked as a volunteer fulltime for the charity for the first five month5. An administrator Joyce Francois joined the team in April 2022. although support for marketing and publicity, plus ad hoc work on large admin tasks are contracted in as and when reqLtired. Freelance tutors and expert speaker5 are engaged for the courses. Tru5tee5' Responslbllitles The Tr¢Jstees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and regulalitsns. The law applicable to charitbes in England and Wales requires the trustees to prepare financial statements for each financial year. Under the law the Trustees have eleited to prepare ihe financial statements in accordance with the United Kingdom Generally Accepted Accounting Pract¢ee (United Kingdom Accounting Standards and applicable lawl. The Trustees must not approve the financial staiemenis unless satisfied that they are a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to.. - seleit suitable accounting policies and ihen apply them con515tently: observe the methods and principle5 01 the Charities SORP.. make judgement5 and accounting estimates that are reasonable and prudent.. stale whether applicable accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the ftnancial statements on the going concern basTrs unless It is inappropriate to presvme that the charity will continue in operation. The Trustees are responsible lor keeping adèquate accounting records that are sufficient to show and explain the charity's transactions and dtsclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the linantial statements comply with the Charities Att 2011. They are also responsible for safe8uardin8 the assets of the charity and hence for takine reasonable steps for the preveniion and detection of fravd and other iriegulafities. Trustee Recrultment & Meetln8s An introductory pack has been prepared for new trustees that will be given to each new trustee as part ol the introduction process. New trustees can be recommended by ihe Chief Executive or any of the existing trustees. For recommendation to take place the prospective trustee must be in sympathy with the objects of the trust.. and have skills and experience that will add to or replace the existing skills of trustees. The Trustees mei on four o£casion5 during the year to review the on-goin8 work of the Trust and its linancial position. The Trustees also maintain regular contact with each other by email. Risk Analys1S The Trustees have established policie5 in relation to 58feguarding. and all areas of operation as a charity. They keep these under regular review. especially as the charitys work is emerging ffom online to an in-person context.They consider these in connection with finance. strategic plarsning. operattons, environmental and regulatory issues. Public Benefit The trustees are aware of their duty, set out in the Charities Act 2011. to have due regard to the public benefit guidance published by the Charity Commission.
Project Northmoor Limited Ilimited by guarantee) Trustees, Report Reiew of the yeai 2023 ha5 been an important year for the Oxford Centre for Fantasy. Having been established in 2020. è year with many hurdles to overcome. the charity is now hitting Its stride with Some fflajor milestones leèched. Three major achievements colour our view ol the vear. l. Centre for Tolkeln studles and creatl¥e wrltln8 In Northmoor ftaod The Oxford Centre for Fantasy now hès a base for all things Inklingl The renovations ol Number S Northrnoor Road was a bi8 project. It involved months of work ro transform the top two floor5 of a farnily home into a centre for living, collaboration and celebrarion in the spirit of Tolkien. CS Lewi5 and others who found su£h rich Iniellectual and creative ground in Oxford. The Centre now ha5 o firrn home-base i Oxford, which we offer a5 è unique place for a community of re5earche¥5. P05t-Erad5 and writers io stay. Located in the same road as where Tolkien lived when he wrote The Hobbit and The Lord of the Rings. it 15 a highly atmospheric place foT livin& hosting evenrs. and creative connectiors. 2. Prlie for ereatl¥e writln8 We held our Inau8ural Children's Fantasy Novel Prize, irb rtnership wth Pushkin 8ooks. The Oxlord/Pushkin Children'5 Fantasy Prize opened in Morch 2023 and drew nearly l(N) applications frorn all over the world. A longlist of 20 stron8 contenders wès distilled down to an incredible shonli5r of five. Working with Pyshksn's children's editor 3nd an agent from Davld Higharn Associate5, OCF Chief Execeutive Julia Golding and Trtssiee Arnelia Kyaize speTht lime dissecting these very diverse contenders to make our choice. The stories Vafied from classical fant•sy lo dystopia. neai-horror to circus settings. Some explored thÈ pèst, while others imagined alternative futures. The award niÉhi was our flrst In-person event at the new Northrnoor Road ientre, and it was Indeed a warm celebration ol lanièsy liteiature. We had three of the five shortlisted authors in attendance, with the oiher iwo on zoom from around the world. Guests and people in residence at Northmcx)f Road also were there. Mark Harnilton. 4 professlonal voSce artisi, read out excerpts from all shortllsted novels. to great drarnatie effert. The winner was Amy Bryant from New Zealand with her draft novel The Lion and the Mage. Thls Is a gripplng story about sireei thief turned apprentice Mage. Ezran. who is raised to believe he is faied io save the kingdom capture5 a girl with the healing tovch who challenges all his beliefg. 8ry3nt received £2.OCQ and a year of mentorin8 With Pushkin Books. The judglng pènel wè5 so impressed with all the shortlisted authors., all of them gained commendaiion from DHA, and they received free passes to OCF courses as rewards for iheir eftorts. 3. Advance edufativn In the •rts and drafts ol Tolkeln and the Inkllws. As pèrt of our celebrations of the 50th anniversary of Tolkien's death in September, the OCF held a fundraiser for children's libraries in South Africa. This was the country ol Tolkien's binh. and part of eharitable remit is lftked to spreading literacy and the love of reèding abroad in the rnemory of Tolkien and the Inklings. We chose The Light lor Africa Foundation, a5 ihey are based on the conviction ihai 'Libraries Foster Social Cohesion. honourin8 the vital role librar125 play in fostering connection5 and promoting nity. The Foundètion rofufbishes libraries a£r055 the pwre5t townships in South Africa., in some willage5 these are the onlv books that rhe children will a<cess. The Oxford Centre for Fantasy wa5 able io gfant £10,000 to 5UPPOrt three librjries, including renovations, books in the local languages, sraff, ieacher t¥ainin& and software. We have received confirmation thèt the libraries are up and runnin& and some 6CQ children are al• benefittin8 from these efforts.
Project Northmoor Limited (limited by guarantee) Trustee5' Report 4. Day to day runnlnK of the charity. 2023 saw some 41 new Mythmaker5 podcasts on a huge range of subjects. from poetry to dystopia, dragons ro comic books, feminism and spirituality to war. Over the life of the podcast. we have had more than 32,000 downloads. and the library is an impressive store of inlorrnation that carb be listened to again and again. OCF Chief ExetÈutive Julia hosts these di5CUSSlOnS Wlth gtjests and experts from around the wodd. The classics have been di51U552d. along with ialk about movie5, video garnes. and many up-and-comtng writer5 who afe the new generation ol fantasy imaginarion5, The staff have also handled outreach throuBh so(ial media deltly. wth growing Thumbers contacting OCF and following U5 on Facebook, InstaRram and TikTok. The Novel-in-a-year and other fantasy Wflting courses have been carrying on nicely. and alumni are connecting to carry on the tonversalions ènd collabofat+on5. We a150 started a new study-ai your-own-speed Fantasy Writing Course for beginners, which is provin8 popular. We held a successful in-person course over five days in Julyi Stayin8 at the Wadham College and explorin8 Oxford ond èll ol its inspiring surroundin8S Another busy year for the OCF. with lots io be proud ofl We can't wait to see whal happens to grow the love of fantasy writing ènd creativity rnore widely in the months and years to come. Flnanclal Review, ReseThes, Golni Concern and Future Plan5 In the period we raised è total 01 £34,377, Ifom courses, donations and sales ol rnerchèndise from our shop. Deducting expenditure of £156.313. we have a balance 01 £313.927 as of 31 December 2023. The online treative writing courses make surpluses, with iniome of £23.353 exceeding costs of £17.603. The lion's share ol costs in 2023 was the E136,560 Spent on convertin8 the lop iwo floors of S Ngrthmoor Road a cen¢fe for living. £ollaborarion and telebration In the spirir of Tolkien and the Inklin6s. This has been capitalised and will be amoriised over S years.An a8reernent between Ihe owners ol S Northmoor Road and Pfoje(i Northmoor lor the Tentèl of the lop floor over 5 vear5 wa5 approved by the Charily Commisslon. No more major property expendiiure is envi5a8ed at this (ime. The trustees have reviewed the allocaiion ol designaied fund5 between property. development. scholarship and projetls to enable the charitv to continue for at least live vears. Re5erve5 Policv The trustees have reviewed the allocation of desi8nated lunds between property, development, scholarship and projects to enable the charily io conrinue lor 31 least five years. During 2023, £150.000 of funds were placed ihrouEh the CAF Charity Platform to rnaximise interest and to minimise the risk of losin8 funds through failure of any one bank. Fylure Plans Our de518nated funds explain the fourfold areas ol activity of the charily mown8 forward.. £156,990 remains ol the £200,000 originally designatetj for develolping a physical presence in Northffloor Road and for developing a location for film5. £120,000 rernains in the developmenr funds. to cover Ihe core costs of the char1ty in 2024 and beyond. Our aim is that by 2026 we will have established a susiainable literary cenire wirh a 8lobal reath. attraciing a sieady flow ol donaiions and other incorne. extitin8 new generations of creative5 abour Tolkien. the Inklin8s and their own creaiivilv as wriiers and artists. 8uilding on the success ol the ChildreN's Fantasy Novel Priie. a scholarships lund ol £I0,c remains desiEnated io provide Scholarships for students and other5 who would not otherwise be able to artend our courses. After donating £10,000 io the givin8 platform. a fund ol EIO.C(Q is designated to develop world partner5 for Project Northmoor and for schemes at the Story Museum. for and on behalf of the Tru5tee5 Dr Nigel Pearson Chair of rhe Trustees 23 Septernber 2024
Independent Examiner's Report to the trustees of Project Northmoor Limited { the Companv") I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 December 2023. Responsibllities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of Project Northmoor Limited are not required to be audited under Part 16 of the 2(K)6 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Att 2011 I'the 2011 Act'l- In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent exarniner's stalement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination 8ivin8 me cause to believe: accounting records were not kept in respect of Project Northmoor Limited as required by section 386 of the 2006 Act,. or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that ihe accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and Pfinciples of the Stolement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 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. tFCA For and on behalf of Just Audit & Assurance Ltd 37 Market Square Witney Oxfordshire OX28 6RE Date..
Project Northmoor Ltd (limited by guarantee) Statement of Financial Artivities Year ended 31 December 2023 Unrestricted Designated 2023 2022 Income Course Fees Donations Sales of Merchandise 23,353 9,515 1,509 23,353 9,515 1,509 22,536 8,110 3,097 Total Income 34,377 34,377 33,742 Eypenditure Fundraising Paypal and other charges Merchandise Course costs Literature Prize Project Grant Properly costs Amortisation Salaries Overheads Governance 67.128 958 1.647 15.603 67.128 958 1.647 15,603 2.LN)O 10.000 65,273 1,803 1.859 22,220 io,ocrfJ 15,698 27,312 27,312 28,228 1.547 1.890 28,228 1.547 1,890 28,520 4,094 1,500 Total Expenditure 117,001 39.312 156.313 140,966 INet Expendltyrel 182,6241 139.312 {121,9361 1107,2241 Transfers between funds 198,(KQ 1198,OCQI Net Movement in Funds 115,376 1237,3121 1121.9361 1107,2241 Total Funds brou8ht forward li 11.561 424,302 435.863 543.087 Total Fund5 carried fonvard li 126.937 186.990 313,927 435.863 The statement of financial activities includes all gains and losses recognised in the year. All income and expeniliture derives from continuing activities
Prolect Northmoor Ltd Illmited by guaranteel 8alance Sheet at 31 December 2023 2D23 2021 Fixed A$5ets Properly io 109.248 Current Asset5 Cash at b3Dk and in hènd 207.376 437.363 Current Assets 207.376 437.363 12.6971 11,5001 Net Current Asset5 204.679 43S,863 Net Assets 313.927 435.863 Funds ol the Charlty Vnre5fricted Funds General UnresrrScred Funds Desi&n4ted Funds Property Fund Development Fund 5¢holaFship Fund Projects Fund 16.937 11.561 156.990 120,OC¥) io.otsj io.oTr) 184.302 Iso.000 50.000 40.oc 296,990 424.302 Tot1 Funds 12. JJ 313,927 43S.863 FDI ihe flnanciol yriod thdin8 31 Oetember 2023tbe chariiy was enlilledio exemption lirrtn ¥Trder ieciion47? of Ihe Compafiies Act 2006. - The ernr$ havè ntst ftquirtd the chiirtytoobt•ih èn•uditof 1t$xlsIN ihe ped In quesiiMh •¢¢dance with sertlon 476,. Ind Thp dlreciors a(knowled8ttheir 1esponsibilbiiesfortornYIN8lh Iheregulremenis ol iheAct Wllh respect to a¢¢oynlitl8 rtcords tht pieparètion ol account5. Thest financial stètemen15 have ten otepaied If •Ccw4anCtthIhe oltheConwniesAct 21 applicabletocompanle5 subject lo the small cornoènie rt8ime. The lin•ntial siatements wereapproved by Ihttsoa¥d of Ttuatts•nd OTr rts behallby 23 september 2024
Project Northmoor Ltd (limited by guarantee) Notes to the Accounts for the year ended 31 December 2023 1. 83515 of Preparation. Accounting Convention and Assessment of Going Concern These accounts have been prepared Under the historical cost convention and on the accruals basis with items recognised at cost or transaction value unless Otherwise stated in the relevant notes to these accounls. The accounts have been prepared in accordance with the Statement of Recommended Practice.. "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and effective 1st January 2019" and with the Charities Act 2011. The charity constitutes 8 public benefit entity as defined by FRS 102. These financial statements have been prepared on the going concern basi5. 2. Accounting Policies al Recognition of Intome All income is recognised in the Statement of Financial Activities I'SOFA I when the charity is legally entitled to the income and the amount can be measured with reasonable accuracy. bl Grants and donatlons Grants and donations are only included in the SOFA when the general income recognition criteria are met. The charity has nol received any government grants in the period. cl Liabilities Recognition Liabilities are recognised where it is more likely than not that there is a legal or consiructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable cerlaintv. dl Governance Costs These include all costs involving the public accountability of the charity and it5 compliance with regulations and good practice and any costs that may arise from trustees, meetings. el Statement of Cash Flows The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I nol to prepare a Statement of Cash Flows. fl Bank Balance This is included at the Sum shown on the bank statement at the close of business on the balance sheet date after adjusting for any unpresented items if appropriate. gl Debtors, Creditors Debtors and creditors are measured at the values expected to be received and due in settlement respectively.
Project Northmoor Ltd (limited by guarantee) Notes to the Accounts for the twelve months ended 31 December 2023 3 Tru5tees' Remuneration. Expenses and Related Party Transaction5 The Trusiees received no remuneration. No Tru5tee5 were paid expense5. 4 Income Our income was £34,37712022 £33,742). S Analysls of resources expended by expenditure type Charitable Activities expendilure comprised of £82,725. This is split betweeen £17,60312022 £22,220) for teaching Staff on the courses, speakers and attendant cosls. such as course materials, payments for in-peTSon tourses, Mighty Networks and Zoom: £27.31212022 £15,698) on establishing a presence in Northmoor Road where Tolkien lived,. and £25.81012022 £25,668) for the 90% of staff costs, £2,000 for the Prize and £10,000 on the projecl granl. 6 Staff costs (included In D5rect casts) Staff costs were £28,67812022 £28,520). We have a Chief Execeutive and an administrator who run the charity on a day-to-day basis. both the administration5 and development roles. No employees were paid over £60k. The employees are deemed to spend 90% of their lime on ch3rilable activites and IO% on governance. 2023 2022 Gross Salaries Pension C051S 27,621 607 28,228 27.913 607 28,520 7. Fundralslng costs The majority of our fundraising costs were for publicily of £67.12812022 £65,273). We have employed the PR and Marketing firm CCB holdings on a regular basis to provide website sUPPOrt and a team to run our social media. Paypal and oiher charges at £95812022 £ 1,8031 are disclosed separately. as they are clearly identifiable on the statements. CCB Holdings èlso deal with many other issues, for example producing the podcast, brochure design. online shop admin, and devising the signup forms online for the courses. We also have website. mailchimp, podcosting IRestreaml and Facebook advertising costs. 8. Corporation taxation The charity is exempt from tax on income and gains falling wiihin section 505 of the Taxes Act 1988 or . 9. Insurance Included in Overheads is £302 for trustee indemnity insurance
Project Northmoor Limited {limited by Euorantee} Notes to the Accounts for the twelve months ended 31 December 2023 10. Fixed Assets The Property consists of irnprovement5 rnade to the top two floors of 5 Northrncr Road under a live year lease with the owners of the property arid as agreed with the Charity Comm1$5ion. Cost5 Incuried in 2022 are treated as expenditure. Costs incurred in 2023 ère capitalised and then omortised over 5 years on a 5trai8ht line basis, calculated on the costs incurred in the year. 2023 136,$60 2022 Costs incurred In year Amort150tion based on 20% of in year costs 27.312 To 8alènce Sheet 109,248 11. Credltors 2023 2021 Tèxarion Pensi¢n Fee5 Independent Exam 471 133 293 1.5 1.500 2,697 12. Funds Fund5 held by Ihe ¢harity are tither.. Unresiricted 8eneral fund5 These are lunds which can be used in K¢ordaThce with the charitable objert5 at the discretion ol ihe trustee5. Oesignèted funds These are unrestricted funds of the charity whKh the trustees h•ve de¢iltd at their discretion to set aside to use for a specillc purpose. RestTlCted fund5 These are funds that ean only be used for particular restriaed purp05e5 Wlthin the objerts of thè charity. Restrittions arise when specified by the donor or when funds are r•i5ed for rtIcular restricted purpose 13. Ilmlted by iuarantee The privatè company is limited by guarantee, regisrered In Eniland and Wales. and does not have è share capital. Each member gives a guaraniee to contribute o Sufn. not excee4in8 £1. to the company shtyjld it be wound up. At 31 De¢ember 2023 there were 3 mtmbers 14. Movement in funds 8rought forward IncorninE re5011r¢es Outgoing resources Transfers Cèrried forward General fund Designated Funds Property Fund Developrnent Fund Scholarship Fund Projects Fund 11.561 34.377 1117.Tr)11 88. 16.937 184.302 150.tKKI 50.(KI 40.• 127.3121 156,990 120,000 10.000 10.000 130,IXX)I 12.CKKII 138.OWI 110,LKt)1 120.LKKII Total funds 435,863 34.377 1156,3131 313,927