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2025-06-30-accounts

Registered number: 13459363 Charity number: 1196573

OUSA LIMITED

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

OUSA LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7 - 8
Statement of cash flows 9
Notes to the financial statements 10 - 21

(A company limited by guarantee)

OUSA LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025

Trustees L C M S de Pontes
S P Bennett (appointed 18 November 2024)
D Mastrorocco
Company registered
number
13459363
Charity registered
number
1196573
Registered office
Third Floor
20 Old Bailey
London
EC4M 7AN
Independent examiner
Nicholas Weller FCCA
Simmons Gainsford Professional Services Limited
14th Floor, 33 Cavendish Square
London
W1G 0PW

Page 1

OUSA LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report together with the financial statements of the Company for the period 1 July 2024 to 30 June 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

Ousa Limited was established in 2021 to advance education in information technology for the benefit of the public in such ways as the trustees think fit including but not limited to the establishment, maintenance and operation of training centres and the provision of courses to teach information technology.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

a. Key Activities and Achievements

The Charity continued to operate its software engineering training centre throughout the year. The lease on the original premise was terminated on the 28 September 2024 with the charity moving its training operation to a smaller location in London.

The Charity has a partnership with the worldwide brand '42', a collection of software engineering training centres located around the world.

Financial review

a. Going concern

Following the year end, the Trustees determined that the funds available and expected future funding would not be sufficient to sustain the Charity’s physical training centre operations. As a result, the Trustees made the decision to cease the physical centre and significantly reduce the Charity’s cost base.

The Charity has continued certain activities remotely on a limited basis, and the Trustees are actively reassessing the viability of these activities. Any ongoing or future activities will be carried out in line with the Charity’s available resources and funding.

The Trustees have assessed the Charity’s ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. Based on the reduced cost structure and the expectation that all liabilities will be settled in full, the Trustees consider that the Charity will be able to meet its obligations as they fall due.

Page 2

(A company limited by guarantee)

OUSA LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

b. Reserves policy

The Charity's policy is to set aside funds for special purposes or as reserves against future expenditure.

c. Principal risks and uncertainties

The principal risk of the Charity is the loss of key staff members and funding.

d. Financial Review

The results for the period are set out on page 11. The Trustees believe that the accounts comply with current statutory requirements, the requirements of the charity's governing document and the requirement of the SORP.

Structure, governance and management

a. Constitution

Ousa Limited is registered as a charitable company limited by guarantee and was set up by Articles of Association.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

c. Organisational structure and decision-making policies

The organisation is overseen by the Board of Trustees. The Board of Trustees are responsible for ensuring safe and legal governance and financial operations.

The Board of Trustees during the year consisted of:

Lilian Cuhna Monnerat Solon de Pontes (chair) Daniela Mastrorocco Bronwyn Anne Kunhardt (resigned on 18 November 2024) Sarah Philippa Bennett (appointed 18 November 2024)

The trustees are committed to upholding the principles of the Charity Governance Code to ensure that Ousa Limited is governed effectively and in line with best practices. The Board regularly reviews its governance framework and decision-making processes to align with the Code’s principles, including integrity, transparency, and accountability. The trustees strive to apply these principles in all aspects of Ousa’s operations, ensuring that governance decisions and day-to-day activities support its mission.

d. Financial risk management

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 3

(A company limited by guarantee)

OUSA LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

L C M S de Pontes (Chair of Trustees) Date: 27/4/2026 | 13:07 BST

Page 4

(A company limited by guarantee)

OUSA LIMITED

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2025

Independent examiner's report to the Trustees of Ousa Limited ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

Responsibilities and basis of report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement 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 (FRS 102)].

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.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed: Dated: 27/4/2026 | 13:07 BST

Nicholas Weller FCCA

Simmons Gainsford Professional Services Limited 14th Floor, 33 Cavendish Square, London W1G 0PW

Page 5

OUSA LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2025

Note
Income from:
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
567,375
26,781
594,156
1,629,686
1,629,686
(1,035,530)
(807,587)
(1,035,530)
(1,843,117)		 Total
funds
2025
£
567,375
26,781
594,156
1,629,686
1,629,686
(1,035,530)
(807,587)
(1,035,530)
(1,843,117)		 Total
funds
2024
£
2,239,117
14,360
2,253,477
1,982,154
1,982,154
271,323
(1,078,910)
271,323
(807,587)

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 21 form part of these financial statements.

Page 6

OUSA LIMITED (A company limited by guarantee) REGISTERED NUMBER: 13459363

BALANCE SHEET AS AT 30 JUNE 2025

Note
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
11
Total net liabilities
Charity funds
Unrestricted funds
12
Total funds		 693,927
224,131
918,058
(439,324)		 2025
£
278,149
278,149
478,734
756,883
(2,600,000)
(1,843,117)
(1,843,117)
(1,843,117)		 353,040
1,283,504
1,636,544
(394,235)		 2024
£
550,104
550,104
1,242,309
1,792,413
(2,600,000)
(807,587)
(807,587)
(807,587)

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Page 7

OUSA LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 13459363

BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

L C M S de Pontes

Date: 27/4/2026 | 13:07 BST

The notes on pages 10 to 21 form part of these financial statements.

Page 8

OUSA LIMITED

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025

Note
Cash flows from operating activities
Net cash used in operating activities
14
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
15
The notes on pages 10 to 21 form part of these financial statements		 2025
£
(981,704)
(77,669)
(77,669)
(1,059,373)
1,283,504
224,131		 2024
£
950,994
(981)
(981)
950,013
333,491
1,283,504

Page 9

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. General information

Ousa Limited (previously EFT London) is a registered charity and Private Limited Company by guarantee without share capital, incorporated in England and Wales. Company registration 13459363, Charity registration number 1196573. The address of the registered office is Third Floor, 20 Old Bailey, London, EC4M 7AN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ousa Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of making the claim.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Page 10

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

2. Accounting policies (continued)

2.3 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Short-term leasehold property - Depreciated over the term of the lease
Fixtures and fittings - Depreciated over 5 years
Computer equipment - Depreciated over 10 years

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities 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.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
8,000
Gift aid
559,375
Total 2025
567,375		 Total
funds
2025
£
8,000
559,375
567,375		 Total
funds
2024
£
2,239,117
-
2,239,117

Page 12

OUSA LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

4. Other incoming resources

Interest Receivable
Total 2025		 Unrestricted
funds
2025
£
26,781
26,781		 Total
funds
2025
£
26,781
26,781		 Total
funds
2024
£
14,360
14,360

5. Analysis of expenditure by activities

Providing education in
information technology
Early childhood education and
development of
disadvantaged children
Total 2025
Total 2024		 Activities
undertaken
directly
2025
£
1,121,859
-
1,121,859
1,237,697		 Grant
funding of
activities
2025
£
-
-
-
83,145		 Support
costs
2025
£
507,827
-
507,827
661,312		 Total
funds
2025
£
1,629,686
-
1,629,686
1,982,154		 Total
funds
2024
£
1,952,154
30,000
1,982,154

Page 13

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. Analysis of expenditure by activities (continued)

Analysis of direct costs

Providing
education in
information
technology
2024
£
Depreciation
349,624
Rent
423,374
Licenses
34,223
IT Software & Consumables
31,775
Staff salaries - direct costs
129,490
Cleaning
25,707
Rates
39,620
Light, power and heat
88,046
Total 2025
1,121,859		 Total
funds
2024
£
349,624
423,374
34,223
31,775
129,490
25,707
39,620
88,046
1,121,859		 Total
funds
2024
£
403,949
572,550
16,211
21,984
130,539
17,003
75,461
-
1,237,697

Page 14

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Bank fees
Accountancy fees
Forex gain
Travel
Consulting
Insurance
Interest paid
Legal fees
Staff training
Repairs & maintenance
Printing
Entertainment
Telephone
Advertising & marketing
Audit fees
Total 2025
6.
Analysis of grants
Providing education in information technology
Early childhood education and development of
disadvantaged children
Total 2025		 Activities
2025
£
92,905
1,038
12,930
2,110
11,640
129,376
2,167
127,398
2,189
-
49,269
1,285
2,686
304
72,530
-
507,827
Grants to
Institutions
2025
£
-
-
-		 Total
funds
2025
£
92,905
1,038
12,930
2,110
11,640
129,376
2,167
127,398
2,189
-
49,269
1,285
2,686
304
72,530
-
507,827
Total
funds
2025
£
-
-
-		 Total
funds
2024
£
80,768
359
7,809
30,345
30,022
144,364
1,763
135,172
6,514
18,023
7,307
950
4,451
501
184,564
8,400
661,312
Total
funds
2024
£
53,145
30,000
83,145

Page 15

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

7. Employees

The average number of employees, including the Trustees, during the year was 5 (2024 - 5).

Included in expenditure is £72,000 (2024 - £72,000) of salary paid to L C M S de Pontes, a Trustee. This level of salary is in line with the charity's governing document and was paid to the Trustee for the strategic and administrative management of the charity.

8. Tangible fixed assets

Cost or valuation
At 1 July 2024
Additions
Disposals
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
On disposals
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 Leasehold
improvements
£
428,527
52,856
(428,527)
52,856
385,674
66,032
(428,527)
23,179
29,677
42,853		 Fixtures and
fittings
£
330,132
22,039
-
352,171
127,756
128,036
-
255,792
96,379
202,376		 Computer
equipment
£
379,772
2,773
-
382,545
74,897
155,555
-
230,452
152,093
304,875		 Total
£
1,138,431
77,668
(428,527)
787,572
588,327
349,623
(428,527)
509,423
278,149
550,104

Page 16

OUSA LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

9. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2025
£
5,495
688,432
693,927		 2024
£
283,760
69,280
353,040

10. Creditors: Amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2025
£
35,718
41,043
362,563
439,324		 2024
£
177,065
257
216,913
394,235

11. Creditors: Amounts falling due after more than one year

2025 2024
£ £
Other loans 2,600,000 2,600,000

Page 17

OUSA LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

12. Statement of funds Statement of funds - current year

General Funds
Total funds
Statement of funds - prior year
General Funds
Total funds		 Balance at 1
July 2024
£
(807,587)
Balance at
1 July 2023
£
(1,078,910)		 Income
£
594,156
Income
£
2,253,477		 Expenditure
£
(1,629,686)
Expenditure
£
(1,982,154)		 Balance at
30 June
2025
£
(1,843,117)
Balance at
30 June
2024
£
(807,587)

Designated Funds

The training centre fund - this fund represents the capital expenditure in regards to the lease of the training centre at 30 Millbank, London net of any loans used to finance this expenditure. At the year end, the capitalised cost is exactly matched by outstanding loans and therefore the fund balance is zero. The training centre is the charity's place of learning whereby seminars, conferences, lectures and courses will be held.

General Funds

The general funds are used to meet both the direct and support costs of running the training centre.

Page 18

(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
278,149
Current assets
918,058
Creditors due within one year
(439,324)
Creditors due in more than one year
(2,600,000)
Total
(1,843,117)		 Total
funds
2025
£
278,149
918,058
(439,324)
(2,600,000)
(1,843,117)

Analysis of net assets between funds - prior year

Unrestricted
funds
2024
£
Tangible fixed assets
550,104
Current assets
1,636,544
Creditors due within one year
(394,235)
Creditors due in more than one year
(2,600,000)
Total
(807,587)		 Total
funds
2024
£
550,104
1,636,544
(394,235)
(2,600,000)
(807,587)

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operating activities		 2025
£
(1,035,530)
349,624
(340,887)
45,089
(981,704)		 2024
£
271,323
403,949
(13,396)
289,118
950,994

Page 19

OUSA LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

15. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
224,131
224,131		 2024
£
1,283,504
1,283,504

16. Analysis of changes in net debt

Cash at bank and in hand
Debt due after 1 year		 At 1 July
2024
£
1,283,504
(2,600,000)
(1,316,496)		 Cash flows
£
(1,059,373)
-
(1,059,373)		 At 30 June
2025
£
224,131
(2,600,000)
(2,375,869)

17. Operating lease commitments

At 30 June 2025 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
335,520
1,062,480
1,398,000		 2024
£
143,138
-
143,138

The Charity has agreed in principle with the landlord to terminate the lease with effect from 31 March 2026 and is awaiting formal documentation from the landlord. Based on the agreement in principle, the Trustees expect that the termination will be on terms that do not give rise to any ongoing financial liability for the Charity.

These commitments reflect the original contractual terms prior to the agreed termination in principle.

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(A company limited by guarantee)

OUSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

18. Related party transactions

During the year, cash donations of £nil (2024 - £2,239,117) were received from entities controlled by a Trustee's close relative.

At the balance sheet date, included in other loans, is an amount of £2,480,000 (2024: £2,480,000) owed to a Trustees close relative. The loan carries an interest rate of SONIA pro-rata-die and £324,324 (2024: £196,926) of interest is included in accruals at the year end.

The Charity has received financial support in the form of a loan from a related party. The lender has confirmed that the loan will not be called for repayment within at least 12 months from the date of approval of these financial statements.

The Trustees therefore consider that this liability does not give rise to any short-term liquidity risk for the Charity.

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