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2021-03-31-accounts

THE OTHONA COMMUNITY

ANNUAL REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Charity Number 277843

THE OTHONA COMMUNITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS: PAGES
Reference and administrative details 1
Trustees' Annual Report 2-6
Independent examiner's report 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10-15

THE OTHONA COMMUNITY

Charity No. 277843

REFERENCE AND ADMINISTRATIVE DETAILS

PRINCIPAL OFFICE

Othona Community House Coast Road Burton Bradstock Bridport Dorset DT6 4RN

TRUST DEED

The Community is governed by a Trust Deed dated 23 June 2008.

TRUSTEES Position Date Date Management Committee
appointed resigned membership
Clare Gough Chair February 2018 Central
Angela Smith Treasurer May 2018 Central
Michael Hunt Treasurer March 2021 Central
Joanna Evans January 2021 Central
Dan Dutfield Safety March 2021 Central
Liz Johnson Safeguarding September 2017 June 2021 Central
Paul Coleman Safeguarding March 2021 Central
Francis MacDonald July 2021 Central
Ruth Bull Chair BCC June 2012 Othona Bradwell
Steve Barnes September 2020 Othona Bradwell
Phil Martin September 2019 January 2021 Othona Bradwell
Caroline Walker Chair OWD September 2016 Othona West Dorset
Elizabeth Sayers Secretary June 2012 Othona West Dorset
Janet Webster September 2019 Othona West Dorset

COMMUNITY SECRETARY

Geraldine O'Grady was elected as Community Secretary at the AGM in September 2019

PATRONS

Revd Sheila Maxey Most Revd Stephen Cottrell Dr Janet Marshall

REFERENCE AND ADMINISTRATIVE DETAILS Centre Wardens

Tim Fox, Bradwell Othona Community, East Hall Farm, East End Road, Bradwell-on-Sea, Southminster, Essex CM0 7PN Tony Jaques, Othona West Dorset Othona Community, Coast Road, Burton Bradstock, Bridport, Dorset DT6 4RN INDEPENDENT EXAMINER Javed Salim Alwyns LLP, Chartered Accountants Crown House, 151 High Road, Loughton, Essex IG10 4LG BANKERS Barclays Bank Plc Dacorum Group, 11 Bank Court, Hemel Hempstead HP1 1BX SOLICITORS Hunt and Hunt Solicitors 22-26 Eastern Road, Romford, Essex RM1 3LT INVESTMENT MANAGERS Epworth Investment Management Limited 9 Bonhill Street, London EC2A 4PE

1

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees of The Othona Community ("the Community") present their report and the financial statements for the year ended 31st March 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's trust deed and 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 (FRS102) (effective 1st January 2019).

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Objectives and Activities

  1. The training of theological and other students and lay men and women in the establishment of Christian community centres with an ecumenical purpose.

  2. The provision of community centres for lay men and women and their families for the purpose of voluntary work, study, worship and associated activities designed to further the service for the worldwide Church and for the integration of the Christian view with the whole life of man.

Othona is an open and inclusive Community rooted in the Christian tradition and drawing on a wealth of other inspirations. We welcome people of all ages, abilities, backgrounds and beliefs to our two centres on the quiet coasts of Essex and Dorset.

Through sharing in a daily rhythm of work, learning, worship and play, we seek personal renewal and glimpses of the sacred. In community we explore the relationship between faith and life and encourage one another in caring for the world and its people.

Achievement and Performance

This report coincides with the beginning of the first national “lockdown” response to the Covid-19 pandemic through to the third period of Covid restrictions which ran until July 2021.

It was possible for both centres to open during the summer and early Autumn of 2020.

Othona Bradwell

We reopened at Bradwell on Saturday 4th July 2020, for up to 6 guests or social bubbles with no set programme. We made adjustments to the interior space in terms of signage, spacing, one-way systems in some areas and sanitising stations. We made use of the good summer weather by spending as much time as possible outside. Our ESC volunteers were a great source of help in keeping the Centre running to enable some of the staff to remain on furlough.

2

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Achievement and Performance (Continued)

We opened for both weekends and midweek sessions and rotated the bedrooms. The first weekend was quiet with two guests staying. The numbers staying built up gradually to a regular 6-15 people for most of the summer. We finished the summer season with a Bank Holiday Festival. We had around 40 people present in total with many camping. There was a live stream from Greenbelt, children’s activities and Beer and Hymns. During the summer we also ran virtual events, which were popular. These were organised by members of the BCC with generous contributions from speakers that would have been present over the summer weeks.

We continued the same pattern of weekend and midweek opening until the half term in October. We had to cancel the Autumn Retreat, which had been very popular, as organised activities were no longer allowed. During October Half term we had 9 families staying with us, the usual activities at the outdoor centre were cancelled but we ran some lowkey outdoor activities for the children. We were open until early November but then had to close for the remainder of the year and remained closed until the 12th of April 2021 when we opened for day visitors.

There was a very generous response from many of the Community, who had already paid for all or part of their stay, who either donated their payments or took credit notes rather than having a full refund.

Due to Covid restrictions we were unable to welcome any of the regular School Groups, nor include our annually returning Church and social groups, which had a serious impact on our income.

Othona West Dorset

This centre was not able to open during the spring or summer of 2020 but prepared for a programme of activities beginning in October. All the events that month were well attended and well received. But then, with the imposition of a fresh lockdown nationally, our plans to continue our programmed activities into the winter had to be abandoned.

Various works on site could be continued and completed in a safe way through the months when we could not open to residential visitors. In particular the Four Seasons Studio was brought to completion (ready for first use with visitors in May 2021).

During almost a full financial year without visitors, we explored the opportunities of worship, reflections and concerts made available by Zoom and/or Youtube. These were typically ‘attended’ at a distance by between 20 and 70 households.

We also sent 45 editions of a “Community in spite of Virus” email newsletter during the year in question. This was an unprecedented style and frequency of communication with our wide network of contacts. The number of recipients fluctuated between 1,815 and 1,860 with good percentages of emails opened each time and a great deal of positive feedback.

Financially we benefited from local authority grants, from furlough payments and from having a reduced number of staff. And our one-off “Help Othona in Hard Times” appeal – launched via our email newsletter – raised more than £18,000 (inclusive of Gift Aid) from the generosity of individual supporters.

Both Centres

The Centres were forced to close in the autumn and were very disappointed not to be able to welcome guests for Christmas and New Year. The period of closure continued until the end of the financial year.

Resident volunteers were able to work in the gardens and to do vital maintenance work during the periods of closure. Volunteers also supported the summer opening catering for the restricted guest numbers, reducing the need for staff members and containing costs.

The Wardens and small Core Staff Teams were resident at both sites throughout and were on the UK Government Furlough Scheme for much of the year.

Building Work

Contractors were working on both sites when restrictions allowed. The building and renovation projects started last year were completed.

At Othona West Dorset, the washrooms in the old part of the house were refurbished and a pressurised water tank installed. The fire safety system was brought up to current standards.

3

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Achievement and Performance (Continued)

The multipurpose Four Seasons Studio was completed in time for Dorset Arts Weeks in May 2020 and a small opening event 5th June 2021. The result is an inspirational and practical building that will serve as a resource for OWD now and into the future. Visitors have all commented favourably on it and love the way it fits so well into the beautiful setting. Thanks to the new track it is easily accessible for those who are less mobile including wheelchair users.

The Othona West Dorset electricity supply was upgraded to 3 phase to enable linking of Four Seasons Studio and its photovoltaic installation to the national grid. This will have additional benefits in cost savings and in OWD becoming carbon neutral.

All these projects were overseen by a volunteer team and were completed within budget.

At Othona Bradwell the Old Field Hut renovation was completed, providing education and art studio space together with accommodation. Phase 1 of the Green Energy Installation was completed with commissioning of the biomass boiler and energy management system. Data will be collated to assess whether a second wind turbine is financially viable. Fire Safety including the sprinkler system for the solar building, safety lighting and signage were brought up to current regulatory standards. The electrical wiring on most of the site was renewed. Central heating was extended to include the Lad’s Hut (volunteer accommodation) which was refurbished. The new kitchen proved to be very efficient allowing one or more volunteers to cater for guests across the summer. The energy management system enabled more efficient use of power over the winter. This has been a very significant refurbishment of the Bradwell Centre requiring just over £500,000 in total of Trust Funds. The work has increased safety for guests, volunteers and staff and the renewable heating system will enable the centre to be open throughout the year. Increased revenue is required to pay back the capital invested in order to ensure that money is available for ongoing repairs and renewals. A site maintenance contract has been put in place to ensure that all equipment is serviced and maintained.

Public Benefit Statement

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and planning our future activities.

The purpose of the charity is enshrined in its objects as described, and the trustees ensure this purpose is carried out for the public benefit of all persons that we serve by delivering a range of services at Bradwell Community Centre and Othona West Dorset Community Centre, to those in need.

The centres were open to guests in line with government guidelines as described above. The Community hosted many virtual events during the lockdown periods maintaining social connection. For example, a weekly Community dedication service, Sunday night Community conversation, daily worship, quiz nights attended by up to 80 people, a Lent Study Group, a Book Club, weekly reflections for Lent and Advent and a community talent evening. Weekly emails were sent to members and supporters with news of the centres, reflections, poems, videos of local walks, book reviews and links to virtual events; those hosted by The Community and those hosted by friends e.g. poetry readings and a virtual choir. Bradwell included a virtual summer programme for those unable to visit. Many messages of appreciation were received for all these activities.

Investment Policy

The Community has appointed Epworth Investment Management Limited to act as Investment Managers.

Purpose of the Funds

To support the religious and other charitable works carried on by the members of the Community. To establish and maintain a sound financial base for the organisation, for today and in future years.

Objectives The trustees have set the following Investment Objectives: to provide an overall return higher than the rate of inflation over the long term, and to exceed the chosen performance benchmark over a rolling three year period.

Reserves Policy

The reserve policy for each centre is set at a level to provide operational contingency funds - the current level of reserves is set at £45,000. At the year end the policy is being fully achieved and is available to the two centres who now operate within the limited company.

4

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Financial Review

The two centres operate through a wholly owned subsidiary company. The Community has taken advantage of the exemptions available to it to not prepare consolidated accounts. However, the Trustees wish members to know that the company reported an unrestricted net surplus of income over expenditure during the year of £ 19,701 (2020: £2,323) and had a net asset surplus as at 31 March 2021 of £22,816 (2020: £3,115).

The income received from investments, membership fees and donations has been utilised towards the governance and management costs of the Community. After these costs have been applied the residual surplus of £4,084 has been retained within the Community, where in prior years any surplus has been allocated to the two centres with a predetermined formula.

The investment portfolio income was significantly reduced due to the lower levels of investment following the capital expenditure, however, the portfolio showed an increase in value of £84,123 at the end of the year with the market beginning to recover from the initial impact of the Covid 19 lockdown in 2020 (2020: decrease of £88,350). During the year the Community withdrew £150,000 from the investment portfolio to finance the various capital projects completed during the year (2020: £800,000).

Trustees are grateful to individual members and supporters who responded to fundraising appeals included in emailed newsletters, donations totalling £9,164 (£11,113 with gift aid) were received.

Trustees have been monitoring spending at both centres. They have kept abreast of all government guidelines and restrictions and have made full use of Government grants.

At the end of the financial year Trustees needed to re assess the major risks to which the Charity was exposed. A nationwide “lockdown” had been imposed by the government in response to the Covid 19 pandemic, this prevented both centres from opening to guests at the beginning of the season. It was also clear that the cost of the Othona Essex energy generation installation was going to run significantly over budget. Trustees took the decision to divide the energy project in two phases. The installation of the additional wind turbine will, after fundraising, be phase two. Trustees have been monitoring spending at both centres. They have kept abreast of all government guidelines and restrictions and have made full use of Government grants.

Structure, Governance and Management

The structure, governance and management of the Othona Community continued to be in accordance with the Trust Deed, as revised in 2008.

Trustees met virtually most months through the year monitoring staff wellbeing, safety, progress of the building projects and finances. A review of Board performance was completed by three volunteers with strong business and governance experience in public service. Key recommendations included; strengthening the Trustee team centrally, clarifying roles and responsibilities of the Trustees and Centre Committees and developing business plans for the centres to deliver a trading surplus to ensure the sustainability of The Community and to recapitalise the Trust following the substantial investment made at the sites. In response policies and procedures were revised, three new Trustees were recruited with backgrounds in law, compliance, charity governance and safeguarding. The Treasurer stood down at the end of the financial year and a Trustee Treasurer has been recruited with a strong background in organisational and business finance. Further Trustee recruitment continued into the new financial year with a further 2 appointments being made prior to the AGM Secretary and Bradwell link Trustee). Preliminary work was undertaken for business planning, this will be continued in the autumn of the new financial year.

The Trustees maintain a good working knowledge of charity law and best practice by attendance at charity courses run by outside providers. On appointment, each trustee is provided with a "starter pack" containing a full package of documents and from time to time receives education and training.

The Treasurer ensured that Othona was maintaining proper accounts by receiving management accounts from both Bradwell and Othona West Dorset together with updating details of Investment income and Governance costs. The Treasurer provides regular reports to the trustees on the Community's financial results and those of the two centres. The Treasurer reports to the trustees relating to policies on finances and investments.

Three trustees are assigned to each Centre and they attend both the Centre's committee meetings and trustees' meetings to provide an overview of activities. The Wardens at each centre are invited to attend trustees' meetings.

5

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Structure, Governance and Management (continued)

The Wardens continue to lead and manage their Centres and their core teams, consisting of both long and short term paid and unpaid individuals. Monthly financial and statistical information is submitted to Alwyns LLP, a firm of accountants who act in support of the Treasurer.

The trustees are aware of their duty of care, and take the necessary steps to safeguard and take responsibility for its beneficiaries. Safeguards are in place to protect and prevent vulnerable people from abuse. Liz Johnson is the Trustee with lead responsibility for safeguarding. Rigorous recruitment and interview processes are in place for all staff with regular training. The trustees, together with each centre's management team, have undertaken a review of the health and safety policy and are nearing completion of the review of the safeguarding policy.

Trustees are reimbursed for out-of-pocket payments to carry out their duties, e.g. travel to and from trustee meetings; postage, telephone calls and broadband time for charity work.

Future Plans

To open the Centres as soon as it is safe to do so.

Trustee recruitment will continue. Two Trustees with long service both as Trustees and within the Community are due to stand down within 12 months of the AGM.

Recruit a new Chair who can lead the discernment process for the vision and mission of The Othona Community for the next 5-10 years.

Trustees will meet face to face and visit the sites when safe to do so, seeking to orientate and familiarise new Trustees. The convenience and efficiency of virtual meetings is recognised, and virtual Trustee meetings will continue, replacing the in-person London meetings.

Holding the AGM virtually will be reviewed, it has allowed greater participation.

Trustees will continue to review their effectiveness and ways of working, newly formed sub-groups for finance, remuneration and compliance will meet quarterly.

Focus will be given to business planning in the autumn, adapting to the new situation of “living with Covid” and wider changes within society.

Capital spending will be carefully planned and prioritised and informed by professional building condition surveys.

The energy efficiency of both sites and the care of the natural environment will continue to be a priority.

Trustees will monitor the progress of the proposed Bradwell B nuclear power station which is currently in the design and assessment phase of development.

By order of the Trustees.

Clare Gough Chair of Trustees

Date: 21 September 2021

6

THE OTHONA COMMUNITY

Charity No. 277843

INDEPENDENT EXAMINER'S REPORT TO THE

TRUSTEES OF THE OTHONA COMMUNITY

I report to the trustees on my examination of the financial statements of The Othona Community ("the charity") for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position and the related notes.

This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters that I am required to state to them in this 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 charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

As trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

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

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Javed Salim FCA Independent Examiner Alwyns LLP Crown House 151 High Road Loughton Essex IG10 4LG

Date: 4 October 2021

7

THE OTHONA COMMUNITY

Charity No. 277843

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

----- Start of picture text -----
Notes Unrestricted Designated Restricted Total Total
Funds Funds Funds Funds Funds
Year End Year End
31/03/2021 31/03/2020
£ £ £ £ £
INCOME AND ENDOWMENTS
Subscriptions, legacies and donations 12 12,289 19,300 24,197 55,786 102,151
Investment income:
For daily operations 12 14,762 - - 14,762 45,869
Designated and Restricted funds 7/8 - 74 106 180 2,954
Total investment income 14,762 74 106 14,942 48,823
Other income 1,136 - - 1,136 -
TOTAL INCOME 28,187 19,374 24,303 71,864 150,974
EXPENDITURE
Appeal funds
Designated and Restricted funds 7/8 - 15,085 3,825 18,910 3,001
Other expenditure and costs 12 24,103 - 28,457 52,560 49,692
TOTAL EXPENDITURE 24,103 15,085 32,282 71,470 52,693
Total income less total expenditure 4,084 4,289 (7,979) 394 98,281
Transfers between Funds (125,336) 26 125,310 - -
Gains/ (losses) on Investment Assets 4 - - 84,123 84,123 (88,350)
NET MOVEMENT IN FUNDS (121,252) 4,315 201,454 84,517 9,931
RECONCILIATION OF FUNDS
Total funds brought forward 605,458 8,379 3,298,021 3,911,858 3,901,927
Total funds carried forward 484,206 12,694 3,499,475 3,996,375 3,911,858
----- End of picture text -----

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

The notes on pages 10-15 form part of the financial statements.

8

Charity No 277843

THE OTHONA COMMUNITY

STATEMENT OF FINANCIAL POSITION

AS AT 31st MARCH 2021

----- Start of picture text -----
Notes 31 March 31 March
2021 2020
£ £
Fixed assets
Tangible fixed assets-At Cost 4 3,136,224 3,030,450
Investment portfolio- At Market Value 4 661,493 727,292
3,797,717 3,757,742
Current assets
Cash at bank and in hand 103,081 108,813
Short term deposits 54,207 39,808
Debtors 5 57,116 27,202
214,404 175,823
Current Liabilities
Amounts falling due within one year 6 15,746 21,707
Net current assets 198,658 154,116
Total assets less current liabilities 3,996,375 3,911,858
Funds
Restricted Funds 7 3,499,475 3,298,021
Designated Funds 8 12,694 8,379
Unrestricted Funds 484,206 605,458
3,996,375 3,911,858
----- End of picture text -----

The notes on pages 10-15 form part of the financial statements.

Approved and authorised for issue by the Trustees on 21 September 2021 and signed on their behalf by:

Clare Gough Chair of Trustees

Angela Smith Treasurer

9

THE OTHONA COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Charity No. 277843

1 GENERAL INFORMATION

The charity is an unincorporated entity. The address of the principal office is Othona Community House, Coast Road, Burton Bradstock, Bridport, Dorset DT6 4RN.

2 STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the 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 (FRS102)(effective 1 January 2019) (Charities SORP (FRS102)) and the Charities Act 2011.

In accordance with FRS 103 (3.3A), the charity is a public benefit entity that has applied the "PBE" prefixed paragraphs.

3 ACCOUNTING POLICIES a. Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the charity to the nearest £1.

b. Going concern

The trustees have considered the consequences of COVID-19 and other events and conditions, and have determined that they do not create a material uncertainty that casts significant doubt upon the charity’s ability to continue as a going concern.

c. Fund accounting

General funds comprise the accumulated surplus or deficit on the Statement of Financial Activities. They are available for use at the discretion of the trustees in furtherance of the general objectives of the Community. Restricted funds are subject to specific restrictive conditions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to the financial statements. Designated funds are unrestricted funds which have been earmarked by the trustees for particular purposes.

d. Incoming resources All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Where income is received in advance of a stay, it is deferred until the charity is entitled to that income. No amounts are included in the accounts for the value of services provided by volunteers.

e. Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and service for its beneficiaries. It includes those costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with use of resources.

f. Tangible fixed assets and depreciation

The freehold functional properties were in 1997 represented within the statement of financial position at insurance reinstatement cost, in consultation with SBJ Stephenson Limited, insurance brokers, to which historic costs incurred since then have been added. Trustees will be reviewing which appropriate basis of valuation to use for these properties during the future. Apart from the yurts, these properties are not depreciated as, in the opinion of the trustees, they have a useful life as buildings greater than fifty years and any depreciation charge is considered immaterial.

At each statement of financial position date, the properties are assessed to determine if there are indicators that the properties may be impaired in value; if there are such indicators of impairment, then a comparison of the properties’ carrying value to its recoverable amount is undertaken. Any excess over the recoverable amount is recognised as an impairment loss and charged as expenditure in the SOFA; the carrying value is reduced appropriately.

g. Fixed asset investment

10

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4 TANGIBLE FIXED ASSETS

Book/ Market value 1 April 2020
Additions
Disposals
Revaluations
Depreciation
Increase / (Decrease) in cash held
Book/ Market value 31 March 2021
Net book values
As at 31 March 2020
As at 31 March 2021
Historic Cost as at 31 March 2020
Historic Cost as at 31 March 2021
Investment portfolio at market value comprised
Epworth (2019: Affirmative) Equity Fund
Epworth Global Equity Fund
Property Income Trust for Charities
Epworth Sterling Soverign Bond Fund
Epworth (2019: Affirmative) Corporate Bond Fund
Cash held by Investment Manager		 Freehold
Land &
Buildings
£
3,030,450
134,231
-
-
(28,457)
-
3,136,224
3,030,450
3,136,224
3,030,450
3,136,224		 Investment
portfolio
£
727,292
24,000
(251,837)
84,123
-
77,915
661,493
727,292
661,493
871,788
584,344
31/03/2021
£
378,691
46,460
96,960
9,456
43,207
86,719
661,493		 Total
31/03/2021
£
3,757,742
158,231
(251,837)
84,123
(28,457)
77,915
3,797,717
3,757,742
3,797,717
3,902,238
3,720,568		 Total
31/03/2020
£
3,839,361
877,856
(860,077)
(88,350)
(3,064)
(7,984)
3,757,742
31/03/2020
£
468,632
37,733
177,883
-
34,240
8,804
727,292

All investments are held in the United Kingdom.

Investment

The charity owns The Othona Community, a company limited by guarantee. This company is regarded as a wholly owned subsidiary of the charity. The charity has taken advantage of the exemptions available to it and has not prepared consolidated accounts.

The Company had a net asset surplus as at 31 March 2021 of £22,816 (2020: £3,115).

5[DEBTORS]

Tax recoverable on Gift Aid donations
Amount due from subsidiary
Other debtors and prepayments
6
Creditors and accruals
LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR		 31/03/2021
£
4,949
47,744
4,423
57,116
31/03/2021
£
15,746
15,746		 31/03/2020
£
3,000
23,833
369
27,202
31/03/2020
£
21,707
21,707

11

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7 RESTRICTED FUNDS

1 General
2
Bradwell Garden of Peace
3
Bradwell - Field Hut
4
Bradwell - Wind Turbine
5
Bradwell -legal fees
6
Bradwell - Essex Community
Foundation Fund
7
OWD - Building Fund
8
OWD - Chapel Windows
9
OWD - Four Seasons Studio
10 Andrew Hardy Memorial Fund
11 Richard Mulkern Memorial Fund
12 Warden Development Fund		 Balance
31/03/2020
£
3,284,331
Balance
31/03/2020
£
1,029
-
910
4,791
-
707
1,593
4,660
13,690		 Profit on
Investment
£
84,123
Donations
£
-
10,464
1,173
1,340
10,800
420
-
-
-
24,197		 Transfer from
Unrestricted
Funds
£
125,310
Transfer between
Restricted Funds
£
-
(1,859)
(1,340)
-
-
-
-
-
(3,199)		 Depreciation
£
(28,457)
Interest &
Dividends
£
9
-
8
42
-
6
-
41
106		 3,199
Outgoing
£
-
(441)
-
(3,384)
-
-
-
-
-
-
(3,825)
Transfer
between
restricted Fund		 Balance
31/03/2021
£
3,468,506
Balance
31/03/2021
£
1,038
8,164
1,173
-
7,416
1,338
4,833
-
713
1,593
4,701
30,969

Restricted Funds Fund purposes

8[DESIGNATED FUNDS]

1
Bradwell Development Fund
2
Bradwell - Bursary Fund
3
OWD Capital Repairs Fund
4
OWD People Fund
5
OWD Four Seasons Fund
6
OWD Warden Special Projects		 Balance
31/03/2020
£
-
75
8,017
-
287
8,379		 Funds
Received
£
613
3,000
-
200
14,422
1,065
19,300		 Transfer between
Funds
£
-
-
26
26		 Interest &
Dividends
£
-
1
70
-
3
74		 Outgoing
£
-
(13,704)
(1,381)
(15,085)		 Balance
31/03/2021
613
3,000
76
8,287
718
-
12,694

Designated Funds purposes

12

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9 TOTAL COMMUNITY EXPENDITURE

Management and administration of charity Staff costs
£
180		 Other costs
31/03/2021
£
£
23,923
24,103		 31/03/2020
£
46,628

10 TOTAL COMMUNITY STAFF COSTS

31/03/2021 31/03/2020 £ £ Pension Scheme costs 180 178

The charity had no paid employees during the current and previous year.

11 TRUSTEES' REMUNERATION AND EXPENSES

No trustees received any remuneration during the year.

During the year 6 trustees (2020 - 6 trustees) were reimbursed expenses totalling £645 (2020-£1,855) in respect of travel costs.

13

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12 CENTRAL FUND OPERATION INCOME AND EXPENDITURE

INCOME
Interest and dividends received
Donations
Membership subscriptions
Other income
Pension Scheme costs
Independent Examiner's Fee
Accountancy and professional
Donations made to Othona Community
Investment Managers Fees
Database & web site development & management
Insurance
Publications & marketing
Travel costs
Trustee meeting costs
Staff expenses
Legal Expenses
NET OVERALL SURPLUS FOR THE YEAR
MANAGEMENT AND ADMINISTRATION OF CHARITY		 £
£
14,762
11,113
1,176
1,136
28,187
180
1,780
15,538
-
464
1,700
712
-
645
504
-
2,580
24,103
4,084
Total
Year End
31/03/2021		 £
£
45,869
8,654
1,481
56,004
178
1,780
13,700
20,000
757
2,344
330
-
1,855
2,474
624
2,586
46,628
9,376
Total
Year End
31/03/2020

14

THE OTHONA COMMUNITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13 PRIOR YEAR'S STATEMENT OF FINANCIAL ACTIVITIES

Subscriptions and donations
Investment income:
For daily operations
Designated and Restricted funds
Total investment income
TOTAL INCOME
EXPENDITURE
Appeal funds
Designated and Restricted funds
Other expenditure
TOTAL EXPENDITURE
Transfers between Funds
Gains/ (losses) on Investment Assets
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
INCOME AND ENDOWMENTS		 Unrestricted
Funds
£
10,135		 Designated
Funds
£
29,781		 Restricted
Funds
£
62,235		 Total
Funds
Year End
31/03/2020
£
102,151
45,869
-
45,869
56,004
-
46,628
46,628
9,376
(726,631)
-
(717,255)
1,322,713
605,458		 -
1,508
1,508
31,289
3,001
-
3,001
28,288
(69,609)
-
(41,321)
49,700
8,379		 -
1,446
1,446
63,681
-
3,064
3,064
60,617
796,240
(88,350)
768,507
2,529,514
3,298,021		 45,869
2,954
48,823
150,974
3,001
49,692
52,693
98,281
-
(88,350)
9,931
3,901,927
3,911,858

15