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2022-03-31-accounts

THE OTHONA COMMUNITY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Charity Number 277843

THE OTHONA COMMUNITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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
Michael Hunt Treasurer March 2021 Central
Joanna Evans January 2021 Central
Dan Dutfield Safety March 2021 Central
Mark MacDonald Secretary March 2021 Central
Paul Coleman Safeguarding March 2021 July 2022 Bradwell
Ruth Bull Chair BCC June 2012 June 2022 Bradwell
Steve Barnes September 2020 Bradwell
Sasha East September 2021 Bradwell
Caroline Walker Chair OWD September 2016 October 2022 West Dorset
Elizabeth Sayers Secretary June 2012 June 2022 West Dorset
Janet Webster September 2019 West Dorset
Warren Douglas July 2022
Rachel Tochkell July 2022
Chris Wilson July 2022

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 2022

The trustees of The Othona Community ("the Community") present their report and the financial statements for the year ended 31st March 2022. 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:

d. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; e. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

The year has been characterised by a gradual reopening of both Centres as we adjusted to living alongside Covid infections. The number of visitors was less than in previous years, but we were able to stay open throughout the year. With a combination of government grants, donations, careful cost control by our managers and the continued commitment of our volunteers we were able to finish the year in a balanced financial position. This has meant that we were in a good position to start the summer season 2022, with a full programme of activities. This is a significant achievement.

2

THE OTHONA COMMUNITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Charity No. 277843

Achievement and Performance (Continued)

Othona Bradwell

Programme in 2021/22

Having started the year in a continuation of lockdown and a realisation that without community the place didn’t make sense we resolved to be open as much as covid restrictions allowed. We reopened the Centre on the 12[th ] of April 2021 for community picnics. Following government guidelines, we had limited opening for guests from the 17[th] May and had a community midweek booking with limited numbers followed by a Sixth form group. Most of our regular groups cancelled their visits before summer but some rescheduled for later in the year or for 2022. During the spring period we offered commercial camping on our new land.

We continued with restricted numbers and following social distancing guidelines during May/June but still managed to run half term with several new families and a working weekend. Following the lifting of the legal limits on social contact on the 19[th ] of July 2021 we started the summer with a week of Wild Worship, led by Rachel Summers which attracted many new families. We changed the normal pattern of summer to make events run from Monday to Friday, allowing time for cleaning, and quieter weekends with no specific activity. This proved popular for those who wanted to come for a relaxing time. We had our usual art and music weeks and ran a very successful permaculture week with input from Trustlinks staff members.

The rest of 2021 was very busy with our own events and many groups that had booked earlier but had to cancel. Due to family commitments, we did not open for guests at Christmas and New Year, but we did have a small number staying after David and Marie Martin agreed to be here over that period. The start of 2022 was quiet as usual but by March we had a great leaving party for Tim Fox with live music, which was well attended and a very popular Spring Retreat.

Groups

We managed to keep most of our usual groups in the autumn despite being closed for covid for sometime and had some really great new groups come along. These include YMCA residents, If Only (sexual abuse survivors), YMCA staff members and Trustlinks staff away day. We were fortunate that Matt King, CEO of Trustlinks, secured a grant to cover the costs of running a Green weekend in partnership with us at Othona which was held at the end of April 2022. We have formed a partnership with A Rocha, the Christian environmental group as a partner in action and they came here to run an event in March, and we hope to develop that relationship.

Staffing

Tim Fox, the Centre manager left in April 2022 after nearly 8 years of working here this time. Following a recruitment campaign Richard and Debbie Sanders were appointed as joint wardens, as a job share, on the 1[st] of May 2022. We had our last long-term volunteers with the European Solidarity Corps (ESC) scheme during 2021/22. The four volunteers (Paula from Spain, Olivia from France, Nico and Alessandro from Italy) stayed with us from the end of August for 10 months. They were a great asset to the team and provided invaluable assistance. There is currently no equivalent scheme, but we are exploring other options with Volunteer Action for Peace (VAP), who arranged the ESC scheme for us. We had a fantastic team of summer volunteers including the Martin family, summer cooks and chaplains. All of them helped to ensure the summer ran smoothly.

Othona West Dorset

Covid

This year has been significantly impacted by the Covid pandemic. The first few events in late Spring/early Summer 2021 took place when legal social distancing restrictions were still in place and then later in the year, a number of events were affected by last minute cancellations owing to Covid infections. We were thankful when in 2022 all restrictions could be relaxed, although continuing to be aware that the virus was still very much active in the population.

Site development

The Four Seasons Studio (4SS) really started coming into its own, with a number of regular outside bookings beginning during the year, alongside the resources and flexible space it offered resident groups for creative work and play. The newly established 4SS management group produced some excellent advertising materials for the Studio, plus set up systems for managing outside bookings. A new circular space for sitting and enjoying a fire pit was created in the woods, thanks to Pete Baird and Paul Owens who initially levelled the land to make it possible.

3

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Achievement and Performance (Continued)

New people and topics

In terms of the core team, during July 2021 we welcomed Megan Simson as the full-time Housekeeper. V Churchill also joined the team as Caterer at the start of the summer season and stayed until March 2022. Her replacement took the form of two people, Tom and Eleanor Farley, who job-share the catering role, in addition to caring for their toddler Teddy. Kathryn Brooks began as a 6 month short term core member at the beginning of April 2022, having previously been an excellent volunteer declutterer in January ‘22.

Amongst some new facilitators and topics, we welcomed Simon Parke who led an event based on his book Gospel: Rumours of Love. In July 2021, it was good to celebrate the centenary of the purchase of the land on which Community House now stands. This weekend included a lecture on Adela Curtis, the founder of the first community, by Professor Jane Shaw. Martin Palmer, the Secretary General of the Alliance of Religions and Conservation (ARC), an organisation founded by him and His Royal Highness Prince Philip, also has long-standing connections with Othona and he was one of a number of contributors to an online event in January on the theme of Climate Crisis: What Can We Do in ‘22?

Both Centres

Regular newsletters, virtual events and hybrid events have meant that we have kept in touch with Community Members and visitors. Two virtual study groups; looking at care of the environment and social justice, enabled those restricting social contact for health reasons and members from overseas to meet together.

Building Work

There has been no major capital improvement at either site during the past year. Essential maintenance has continued. The 11 acres of Bradwell Othona land previously managed by the farm has been fenced, trees and wildflowers planted, the top field has been used for camping and overflow car parking. We are working with A Rocha to manage the lower fields near the sea wall.

At West Dorset a grant of £8,000 from the Truemark Trust is enabling us to expand the habitat conservation and other work done by our groundsman.

We will continue to prioritise essential maintenance, to provide a good experience for guests and to preserve and enhance the value of our estate. The accessible toilets at both centres need refurbishment.

Public Benefit Statement

At Bradwell we ran 25 residential events involving more than 600 people and hosted 21 groups comprising around 320 people along with several day visits. We supported 38 visits with our own bursaries and 7 more through the Association for Promoting Retreats NHS scheme. We continued to work closely with the diocese and local churches, schools and community groups. We continued to develop partnerships with local YMCAs, abuse survivors charities and a local mental health and environment charity. We started to develop links with A Rocha a Christian conservation charity with a view to becoming a member of Partners in Action, a network of Christian land managing organisations with an interest in creation care.

The West Dorset centre, restricted by Covid precautions, ran 29 events during the year [2021/22] and welcomed some 375 resident visitors as well as many day guests. We supported 5 visitors through Othona bursaries and participated in a 50% bursary scheme for NHS workers on retreat, funded by the Association for Promoting Retreats. For the first time we offered the new Four Seasons Studio building for public rental by the day or part day, providing a superb new facility for local groups.

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.

4

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Investment Policy

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

The objectives of the charity's To support the religious and other charitable works carried on by the members of investment are: the Community.

To establish and maintain a sound financial base for the organisation, for today and in future years.

To secure these objectives the charity seeks to produce the best financial return within an acceptable level of risk, seeking to balance income and capital returns. The investment funds are managed to maintain the real capital value of the funds, whilst generating a sustainable level of investment income to support the charity. The current income target is set at approximately £20,000 per annum (a starting yield of 3%) and as such the overall total return sought can be quantified as inflation plus 3% per annum.

The investment objective for the cash balances and short term reserves (including restricted funds) is to preserve the capital value with a minimum level of risk.

The trustees review its investments on a quarterly basis and have an agreed Investment Policy that is reviewed annually. The Investment Policy was last reviewed in June 2022.

Reserves Policy

The trustees of the charity have considered the need for reserves and have agreed that reserves are required to (a) provide contingency funds to maintain operations, (b) to allow time to respond to significant reductions in expected income and (c) in the event that it is required, to enable the managed closure of some or all of the charity’s activities.

The trustees have assessed the amount required to be held in reserves on a risk basis and consider that a minimum sum of £100,000 should be held for these purposes. At the end of the year the freely available reserves held by the charity were greater than the minimum required reserve amount.

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 £22,330 (2021: £19,701) and had a net asset surplus as at 31 March 2022 of £45,146 (2021: £22,816).

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 there was a residual surplus of £1,844 (2021: £4,084) which has been retained within the Community. Depreciation of £28,503 (2021: £28,457) was charged in the year leading to an operating deficit of £26,659 (2021: deficit £24,373).

The investment portfolio income continued at lower levels following the capital expenditure of previous years. However, the investment portfolio showed an increase in value of £46,998 (2021: £84,123) which resulted in an overall surplus in the community’s funds of £30,528 (2021: deficit £67,238).

During the year no capital withdrawals were made from the investment portfolio to finance either capital projects or the working capital needs of the Centres (2021: £150,000).

Trustees are grateful to individual members and supporters who responded to fundraising appeals included in emailed newsletters, donations totalling £6,901 (2021: £9,164) were received.

Trustees have been monitoring spending at both centres on a regular basis and the Community Treasurer meets with the warden every quarter to review financial performance.

The charity maintains a number of restricted funds - these are funds where the donor has placed restrictions on how the money can be used. At the end of March 2022 restricted funds totalled £40,662 (2021: £30,969).

The trustees have chosen to designate some of the unrestricted funds for specific purposes. This is at the discretion of the trustees and the need for the designation is kept under regular review. At the end of March 2022 designated funds totalled £64,488 (2021: £12,694).

5

THE OTHONA COMMUNITY

Charity No. 277843

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 have continued to meet virtually at least quarterly. Trustees were pleased to have a face to face meeting at West Dorset in February 2022. The new safety subcommittee has met and is prioritising the areas of highest risk. The coming year we will focus on fire safety, both centres will have an independant fire safety inspection.

We have considered the financial sustainability of the charity and have revised our investment and reserves policies.

Mark MacDonald has taken over as lead Trustee for Safeguarding in addition to his role as Board Secretary following the resignation of Paul Coleman.

Future Plans

The focus for the coming year 22/23 will be to recruit staff teams at both Centres and to have a full programme of events, both old favourites and new ventures.

We will continue to network with organisations with similar values for our mutual benefit. At Bradwell these include A Rocha International, Essex Wildlife, RSPB and local bird watchers, Trust Links, the Parish Church and Chelmsford Diocese. At West Dorset these include Faith Works, Tamarisk organic farm and Dorset Wildlife.

Communication with our Members and supporters is key. We will continue with regular newsletters for the centres, open meetings for those staying during the summer, feedback forms for guests and an open management committee meeting at Bradwell. Facebook and Instagram accounts keep supporters informed of events at the centres. The AGM will take written questions. There will be a consultation exercise with all who visit the centres, this will guide our planning and decision making.

By order of the Trustees.

Clare Gough

Chair of Trustees

Date: 24 September 2022

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 2022 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: 21 October 2022

7

Charity No. 277843

THE OTHONA COMMUNITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Notes
Subscriptions, legacies and donations
Investment income
Other income
TOTAL INCOME
EXPENDITURE
General expenditure and costs
9/13
Other expenditure
7/8
Depreciation
TOTAL EXPENDITURE
Total income less total expenditure
Transfers between Funds
Gains/ (losses) on Investment Assets
4
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Restated total funds brought forward
14
Total funds carried forward
INCOME AND ENDOWMENTS		 Unrestricted
Funds
£
7,423
18,667
3,224		 Designated
Funds
£
4,478
-
-		 Restricted
Funds
£
32,000
-
-		 Total
Funds
Year End
31/03/2022
£
43,901
18,667
3,224
65,792
27,470
16,596
28,503
72,569
(6,777)
-
46,998
40,221
3,996,375
4,036,596		 Restated Total
Funds
Year End
31/03/2021
£
55,786
14,942
1,136
29,314 4,478 32,000 71,864
27,470
-
28,503		 -
2,637
-		 -
13,959
-		 24,103
18,910
28,457
55,973 2,637 13,959 71,470
(26,659)
(41,605)
46,998		 1,841
49,953
-		 18,041
(8,348)		 394
-
84,123
(21,266)
3,952,712		 51,794
12,694		 9,693
30,969		 84,517
3,911,858
3,931,446 64,488 40,662 3,996,375

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 2022

Notes
Tangible fixed assets-At Cost
4
Investment portfolio- At Market Value
4
Current assets
Cash at bank and in hand
Short term deposits
Debtors
5
Current Liabilities
Amounts falling due within one year
6
Net current assets
Total assets less current liabilities
Funds
Unrestricted Funds
7
Designated Funds
8
Restricted Funds
9
Fixed assets		 Restated
31 March
31 March
2022
2021
£
£
3,127,019
3,136,224
708,500
661,493
3,835,519
3,797,717
147,597
103,081
72,119
54,207
2,021
57,116
221,737
214,404
20,660
15,746
201,077
198,658
4,036,596
3,996,375
3,931,446
3,952,712
64,488
12,694
40,662
30,969
4,036,596
3,996,375

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

Approved and authorised for issue by the Trustees on 24 September 2022 and signed on their behalf by:

Clare Gough Chair of Trustees

Michael Hunt Treasurer

9

THE OTHONA COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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.

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 2022

4 TANGIBLE FIXED ASSETS

Book/ Market value 1 April 2021
Additions
Disposals
Revaluations
Depreciation
Increase / (Decrease) in cash held
Book/ Market value 31 March 2022
Net book values
As at 31 March 2021
As at 31 March 2022
Historic Cost as at 31 March 2021
Historic Cost as at 31 March 2022
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
£
3,136,224
19,298
-
-
(28,503)
-		 Investment
portfolio
£
661,493
85,000
(14,000)
46,998
-
(70,991)		 Total
Total
31/03/2022
31/03/2021
£
£
3,797,717
3,757,742
104,298
158,231
(14,000)
(251,837)
46,998
84,123
(28,503)
(28,457)
(70,991)
77,915
3,835,519
3,797,717
3,797,717
3,835,519
3,807,287
3,798,231
31/03/2021
£
378,691
46,460
96,960
9,456
43,207
86,719
661,493
3,127,019 708,500
3,136,224 661,493
3,127,019 708,500
3,136,224 671,063
3,127,019 671,212
31/03/2022
£
450,980
50,250
126,815
13,327
51,400
15,728
708,500

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 2022 of £45,146 (2021: £22,816).

5[DEBTORS]

Tax recoverable on Gift Aid donations
Amount due from subsidiary
Other debtors and prepayments
Amount due to subsidiary
Creditors and accruals
LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
11		 31/03/2022
£
1,262
-
759		 31/03/2021
£
4,949
47,744
4,423
2,021 57,116
31/03/2022
£
4,453
16,207		 31/03/2021
£
-
15,746
20,660 15,746

6 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

11

THE OTHONA COMMUNITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

7 UNRESTRICTED FUNDS

NRESTRICTED FUNDS
1 General (Fixed assets Fund)
2 General Funds		 Restated
Balance
31/03/2021
£
3,468,506
484,206		 Funds
received
£
-
29,314		 Depreciation/
Outgoings
£
(28,503)
(27,470)		 Gain /
(Losses) on
investments
£
46,998
-		 Transfer
between
Funds
£
18,539
(60,144)		 Balance
31/03/2022
3,505,540
425,906
3,952,712 29,314 (55,973) 46,998 (41,605) 3,931,446

1 General (Fixed assets Fund): This represents the fixed assets (land, property and investments) of the charity

2 General Funds: This represents the unrestricted funds generally available to support the activities of the charity

8 DESIGNATED FUNDS

DESIGNATED FUNDS
1
OWD Designated Reserve
2
Bradwell Development Fund
3
Bradwell - Bursary Fund
4
OWD Capital Repairs Fund
5
OWD People Fund
6
OWD Four Seasons Fund		 Balance
31/03/2021
£
-
613
3,000
76
8,287
718		 Funds
received
£
-
300
4,178
-
-
-		 Outgoing
£
-
-
(2,409)
-
(228)
-		 Transfer
between
funds
£
51,660
(913)
(76)
(718)		 Balance
31/03/2022
51,660
-
4,769
-
8,059
-
12,694 4,478 (2,637) 49,953 64,488

Designated Funds purposes

9 RESTRICTED FUNDS

1
Bradwell Garden of Peace
2
Bradwell Field Hut
3
Bradwell Wind Turbine
4
Bradwell Essex Community
Foundation Fund
5
OWD Building Fund
6
OWD Chapel Windows Fund
7
Central A Hardy Memorial Fund
8
Richard Mulkern Memorial Fund
9
Central Warden Development Fund		 Restated
Balance
31/03/2021
£
1,038
8,164
1,173
7,416
1,338
4,833
713
1,593
4,701		 Funds
received
£
-
1,250
20,575
10,000
175
-
-
-		 Outgoings
Transfer
between
Funds
£
£
(66)
-
(9,414)
(5,977)
1,066
(7,916)
-
-
-
-
-
-
-
-
-
-
-		 Balance
31/03/2022
£
972
-
16,837
9,500
1,513
4,833
713
1,593
4,701
30,969 32,000 (13,959)
(8,348)		 40,662

Restricted Funds Fund purposes

12

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

10 TOTAL COMMUNITY EXPENDITURE

Management and administration of charity
Management and administration of charity		 Staff costs
£
(1,258)		 Other costs
31/03/2022
£
£
28,728
27,470		 31/03/2021
£
24,103
Staff costs
180		 Other costs
31/03/2021
23,923
24,103		 31/03/2020
24,103

11 TOTAL COMMUNITY STAFF COSTS

31/03/2022 31/03/2021
£ £
Pension Scheme costs (1,258) 180

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

12 TRUSTEES' REMUNERATION AND EXPENSES

No trustees received any remuneration during the year.

During the year 6 trustees (2021 - 6 trustees) were reimbursed expenses totalling £2,361 (2021-£645) in respect of travel costs.

13

THE OTHONA COMMUNITY

Charity No. 277843

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13 CENTRAL FUND OPERATION INCOME AND EXPENDITURE

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
Investment Managers Fees
Database & web site development & management
National Council
Insurance
Publications & marketing
Trustees expenses including travel costs
Trustee meeting costs
Staff expenses
Legal Expenses
NET OVERALL SURPLUS FOR THE YEAR
MANAGEMENT AND ADMINISTRATION OF CHARITY		 £
£
£
£
18,667
14,762
5,168
11,113
2,255
1,176
3,224
1,136
29,314
28,187
(1,258)
180
1,780
1,780
15,611
15,538
315
464
3,722
1,700
355
533
712
1,095
-
2,361
645
2,571
504
213
-
172
2,580
27,470
24,103
1,844
4,084
Total
Year End
31/03/2021
Total
Year End
31/03/2022

14 PRIOR YEAR RESTATEMENT OF FUND BALANCES

Following a review of the Fixed assets Fund previously shown as General Restricted Funds it has been agreed that these fixed assets are not restricted as the assets are held for the general purposes of the charity. The fund is shown separately from other unrestricted funds to reflect the fact that the funds are not immediately available for use as they represent the land, buildings and long term investments held by the charity.

Funds at 31 March 2020 as previously stated
Reclassification
Restated funds at 31 March 2020
Movement during the year
Restated funds at 31 March 2021		 Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
Funds
£
£
£
£
605,458
8,379
3,298,021
3,911,858
3,284,331
-
(3,284,331)
-
3,889,789
8,379
13,690
3,911,858
62,923
4,315
17,279
84,517
3,952,712
12,694
30,969
3,996,375

14

THE OTHONA COMMUNITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14 PRIOR YEAR'S STATEMENT OF FINANCIAL ACTIVITIES

Subscriptions and donations
Investment income:
For daily operations
Designated and Restricted funds
Total investment income
Other income
TOTAL INCOME
EXPENDITURE
General expenditure an costs
Other expenditure
Depreciation
TOTAL EXPENDITURE
Total income less total expenditure
Transfers between Funds
Gains/ (losses) on Investment Assets
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward as
previously stated
Prior year restatement
Total funds brought forward
Total funds carried forward
INCOME AND ENDOWMENTS		 Unrestricted
Funds
£
12,289
14,762
14,762
1,136
28,187
24,103
-
28,457
52,560
(24,373)
3,173
84,123
62,923
605,458
3,284,331
3,889,789
3,952,712		 Designated
Funds
£
19,300
-
74
74
-
19,374
-
15,085
15,085
4,289
26
-
4,315
8,379
8,379
12,694		 Restricted
Funds
£
24,197
-
106
106
-
24,303
-
3,825
3,825
20,478
(3,199)
17,279
3,298,021
(3,284,331)
13,690
30,969		 Total
Funds
Year End
31/03/2021
£
55,786
14,762
180
14,942
1,136
71,864
24,103
18,910
28,457
71,470
394
-
84,123
84,517
3,911,858
-
3,911,858
3,996,375

15