THE OTHONA COMMUNITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charlty Number 277843
THE OTHONA COMMUNI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS: PAGES Reference and administrative delails Trustees, Annual Report 24 Independenl examiner's report statement of financial activities Statement of financial position Notes to the financial slalements 10-15
THE OTHONA COMMUNITY Charlty No. 277843 REFERENCE AND ADMINISTRATIVE DETAILS PRINCIPAL OFFICE Othona Community House Coasl Road Burton Bradslixk Bridport Dorset DT6 4RN TRUST DEED The Community is govemed by a Trust Deed dated 23 June 2008. TRUSTEES Po$ltlon Dats appolntèd February 2018 March 2021 March 2021 Datè re$lgnod Management Comm1tt8¢ m•mbarship Central Central Centr81 Clare Gough Michael Hunt D8n Dutfield Chair Treasurer Safety Secretary & Safeguarding Bradwell Chair Mark MacDonald Steve Barnes Sasha Ea51 Jan81 Webster Warren Douglas Rachel Tocknell Chris Wilson John Smith Chris Jones Jane Pears Mark Ringrose Michael Dyer March 2021 September 2020 September 2021 September 2019 July 2022 July 2022 July 2022 September 2022 November 2022 June 2023 February 2024 July 2024 Central Bradwell Bradwell West Dorset West Dorset Wesl Dor5el West Dorsel Central Bradwell Central Bradwell Bradwell FebrLJary 2024 December 2023 Chair OWD February 2024 Vice Chair COMMUNITY SECRETARY Geraldine O'Grady was elected as Community Secretary at the AGM in September 2023 PATRONS Revd Sheila Maxey Most Revd Stephen Cottrell Dr Janet Marshall REFERENCE AND ADMINISTRATIVE DETAILS C&ntr8 Wardens Richard and Debbie Sanders. Bradw&ll Othona Community, East Hall Farm, East End Road, Bradwell-on-sea, Southminsler, Essex CMO 7PN Tony Jaques, Olhona Wesl Dorsel Olhona Community, Coast Road, Burton Bradslo¢k, Bridport, Dorset DT6 4RN INDEPENDENT EK4MINER Javed Salim wyns LLP, Chartered Accountants Crown Hous&, 151 High Road. Loughton, Essex IG10 4LG BANKERS Barclays Bank PIC Dacorum Group, 11 Bank Court, Hemel Hempstead HP1 1 BX SOLICITORS Hunt and Hunt Soliators 22-26 Eastern Road, Romford, Essex RM13LT INVESTMENT MANAGERS Epworth Invostrnenl Management Limited 9 Bonhill Slroet, London EC2A 4PE
THE OTHONA COMMUNITY Charity No. 277843 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees of The Olhona Community I'the Community'l present their report and the financial slalemenls for the year ended 31st March 2024. The fin8ncial ststemen15 have been prepared in accordance with the accounting policies sel out in the notes to the accounts ancs Comply with the charitls trust deed and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 {effective 1st January 20191. Statement of Trustees. Responsibilities The trustees are responsible for preparing the Trusl&es' Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable lo charities in England and Wales requires the Iruslees lo prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable lawl. The trustees musl not approve the financial slalements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of the incoming r¢sources and application of resources of the charity for that period. In preparing these financial slalements, the trustees are required to.. a. select suitable accounting policies and thén apply them ¢onslstently'. b. observe the method and principles in the Charities SORP., c. make judgements and accounting esii'males that are reasonable and prudent., stste whether applicable accounting standards have been followed. subject lo any material dgpartures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless il is inappropriate to presume that the ¢h8rty will continue in opèration. The Iruslees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lirne the fi'nancial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They ara also responsible for safeguarding the assets of the charity and henc8 for taking raasonablè stèps for the prevention and d&l&¢lion of fraud and other irregularities. Oblectives and Activities 1. The training of theological and other students and lay men and women in the eslablishmenl of Christian community centres with an e¢umeni¢al purpose. 2. The provision of community cenlres for lay men and women and their families for the purpose of voluntary work, study, worship and associated activities designed lo further the service for the worldwide Church and for the integration of the Christian view with the whole lif& 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, b8¢kgrounds and beliefs to our two cenlres on the quiet coasts of Essex and Dorsel. Through sharing in a daily rhythm of work, learning. worship and play, we seek personal renewal and glimpses of tho sacred. In community we explore the relationship between faith and life and encourage one another in caring for the world and ils people. Achievement and Performance The company reported an unrestri¢ted ngt surplus of income over expenditure during the year of £37,678. After the costs of running the charity have been applied the Charitable Trust had a residual surplus of £10.185. After depreciation was charged there was a operating deficit of £19,503. See Financial Report below for details. Both cenlres offered a full programme of activities throughDUt thg year. The number of vlsilors ConnueS lo increase particularly at OlhDna Bradwell where the energy installation enables all year usa and Camping increases both capacity and affordability for guests.
THE OTHONA COMMUNITY Charity No. 277843 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Achievem8nt and Performance {Continued) Othona West Dorset This was 8 year in which we devoted significant resources and effort to th& gradual preparation for generational change and renewal al this cenlre. The Othona trustees completed a Hufflan Resources Review to address in particular a more sustainable allo¢alion of management responsibilities within the resident core community. It was a¢cepted that Tony Jaques, workload as warden had grown beyond what any one person could maintain. The result of the review, in brief, was a decision to recruit a depLJly wardenlm8nager who will carry particular responsibilities within operab'onal matters and business devfrlopmont. Recruitment to this post would lake place in 2024. We wer6 glad lo interact wlh architect James Gallie, tasked by the Iruslees with an initial feasibility study for major redevelopment of the site including Community House. No such project is imminent, bul we welcome this considoralion of the potential for bijilding works that might solve many of the exists'ng shortcomings in our built assets. On a smaller scale, however, lo allow for the new deputy PDSt- without surrendering one of OUT other team members- we have recognised the need for at least one more unil of staff ammmodalion. Proposals for the best way to achieve this, whether by alterations to an existing building or by replacing a dilapidated one. were brought forward through our Centre Management Committee with particular input from building industry professional Mark Gallagher. That committee, chaired by Chris Wilson, is now receiving mor@ ststistical information on bookings, room occupancy and so forth Ilhanks to book-keeper Andy Davey and office coordinator Liz HovAetll. This gives valuable extra perspectives on the raw data of financial outcomes. This year saw th6 planned expansion of OUT System for volunteers who support the core community. We now look to welcome one 'Supervol' for each of our bookable events. to sh8r8 in the work and life of the core. Thelr help is invaluable and most of them report findin9 the experience very rewarding. There are now nearly twenty splendid individuals on our Supetvols list. Liz Howlett is in the process of writing a book about Adela Curtis and the community she founded on this sile, whose land and bLJildings were later gifted lo Othona. In the autumn Liz was able to spend a month on 8 research trip lo the USA. She has enrolled over 200 followers for her blog that reported on that trip and ¢onlinues wlh uprlates on her research into Miss Curtis- mystic, author and inspirer of communities. othona Essex, Bradwell We had a varied events programme for 202312024 with an intentional focus on the environment among other areas. Thank you to all our amazing facililalors lor their hard work in making the programme r4Jn well. Some of the highlights included.. Easter was tsken by Rev Andrew Gough, the Bishop of Chglmsford (Rt Revd Dr Gull Francis-Dehqanil took the dawn seNice al Ihg Chap818nd around 70 of the worshippeis present camè for breakfast here. We held the 2nd Essex Green Weekend herg over the Bank holiday weekend in May in partn6rship with Trusllinks. 11 was a fantastic weekend of talks, music and worf(shops wlh over 150 people attending. We had a book launch for St Peter-on-the-wall.. Landscape and Herltagg on the Essex Coast, wlh a series of talks and workshops, as part of the Essex Book Festival. Summer began wi(h our 3rd Wild Worship event, led by Rachel Summars. This event is wonderful for children and has built up a following of familias new to Othona. We have made a number of links wth those Coming which haslod lo new programm8 événts. The environment theme was very rnuch continued with the usual Spring and Winter Watch weeks, led by Nastassja and Hugh, environment woek in tho summer wth some A Rocha associated links and our Autumn retreat o Gr&ening the Soul wlh Revd Imogen Nay. Art and music also féatured in many events wlh a summer art week run by Ali and Gwenda, music week, festival of Song and an Art & Soul retreat.
THE OTHONA COMMUNITY Charity No. 277843 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Achievement and Performance (Continued) Around 400A of our schedule involves hosting groups, many of whom come to Othona on ¥ regular basis. We hav made links Mrilh like minded organisations and work in partnership wth a number of these. Some of the highlights include.. The Orthodox Fellowship of Sl John the Baplisl, who hold their annual youth fellowship here, attracting around 70 P8ople for a weekend of teaching and worshlp. A Rocha UK, who we work wth as one of their Partners In Action. We attended their annual retreat in November and hosted some of the members here in the summer lo run an environment weèk. YMCA stsff and residonls, who came four timas last year, who come for rest and run their own praMMe of events. We have three prfmary schotsls for r$$idenlial trips, for which we delwer a national curriculum based programme, and another for regular day visiis. St Ethelburga's Centre for Peace and Reconciliation. who ran hedge planting weekends as part of their Lrfe Llnes project. The team on site consisted of Richard & Debbie as Wardens, Phil as Kitchen manager, Atnanda as volunte8r gardenerlgeneral help, Chris as a general volunltrer, Pete as groundsman for one day a week and Kirslie as admin support for 12 hrs a week. This was greatly supplemented by all the fantastic voluntears wè havè, some coming for the whole summer, others for whatever lime they are able to spare. We appciat8 tho help they are able lo givg. People Community is all about people. As a charity Olhona does not serve any one identifiable 'in-nged' group. Part of tho genius of our community is that a wicle diversity of individuals taka part on a par with each other, wlhoul any sÈnse of being 'a case,. Nonèth61ass, wé ar6 awar8 that we welcome a high proportion of visitors to the Wesl Dorsel centre who have significant and sometimes complex needs. Whether this be adults with severelearning drfi¢ullie5 and physical disabilities, children wlh one or more life-threalening allergies. elderly visitors whose limited mobility and haaring makes soaal life problematic, or young people struggling with rn&nlal health issues. We mak8 no claims lo be a Iherapeulic community as such. None of us is offering the skills of a trained therapist. Bul there is no doubl that rnany who spend lime with us find it therapeutic in Ihtr widest sense. This pastoral aspect of an awpting and spiritually supportive space is one of Othona's Irea5UTes. During this year we were a resident team of ihree full timers and one job-sharing couple. Unusually. all team rnembers had Come to us with considerable previous experience of Olhona. Although we oflen welcome re¢ruils who are new to the community, this depth of knoedge and affinity can be a particular bonus. Among our visitors, however. we observed an increasing number ol new faces this year. Volunteering That supportive space relies not only on the resident team bul very much on a large number of people who volunteer th us. They do this in all sorts of ways- frorvTr the Trust board member to the oc¢asitsnal gardener. This was Ihe year in which we put new thought and energy inlo recruiting, indu¢ling and supporting more volunteers. Especially those who Can join us for a few days al a limg and help staff a given event, from ils preparalion to its aftermath. The Othona Wèst Dorset Supervol S¢hem& was born. 11 is paying dividends.11 spreads the load beyond core members, bul also gives a way in for supporters who'd like to be more pra¢tically involved. Renewable Energy Two air source heal pumps and an energy diverter were installed shortly before Christmas. £7,330140% of the costl was covered by a grant from Low Carbon Dors&t. The gas boiler that used lo heat the chapel and library was removed a major slep away from fossil fuels. The solar thermal array providing hot watgr to Largesse Islaff accommodation} was replaced (having failedl-
THE OTHONA COMMUNITY Charity No. 277843 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Grants, Donations and Legacies Donations to support the general work of the cenlres and Trust lolalled £35,425 (Bradwell £13,576, OWD £13,500, Trust £8,349). In addition significant donations and grants were received tDwards projects at Bradwell totslling £84,676 in relation lo the replacemgnt sewage system1£50,5621, reoanvassing the yurts1£12,285 Grant from Maldon Council), improvements lo the Motley accessible balhroom1£15,3891 and providing bursary support £6,4391. This generosity from supporters and friends is making a real difference to the operation of the silès and we are most grateful. Public Benefit Statement The Iruslees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objactives and planning our futu activitiès. The purpose of the ¢harily Is gnshrined in ils objects as described. and the trustees ensure this purpose is carried out for the public benefit of all persons that we serve by delivering 8 range of servl¢es al Bradw811 Community Centre and Othona West Dorset Community Cenlre. to those in need of respite and spiritual refreshment. Investment Policy The Community has appointed Epworth Inveslmtsnt Management Limited to act as Investment Managers on a retail Client basis. Th& objectives of the charty's investment are.. 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 futu years. To secure these objectives the charity seeks to produce the best financial retum within an acceptable level of risk, streking to balance income and capital relums. The investment funds are managed to maintain the real capital value of the funds, whilst genamting a sustainable level ol investment income to SLJPPOrt the charity. The current income target is set al approximately £20,000 psr annum and the overall lolal return sought can be quantified 05 inflation (measured by CPII plus 3.5.10 per annum assessed over a rolling 5 year period. In the year lo 31 March 2024 an overall return of 6.960/0 was achieved on th6 investment funds. The investment objective for the cash balances and short term reserves (including reslricled funds) is to preserye the capital v8lu6 wth a minimum level of risk. The Irusleés rèvièw its investments on a quarterly basis and have an agreed Investment Policy that is kept under regular review. The Investment Policy was last reviewed in July 2023. and will be reviewed in November 2024. Reserves Policy The trLJslees of the charity have considered the need for reserves and have agreed that reserves are required to lal provide contingency funds to maintain operations. Ibl lo allow lime to respond to significant reductions in expected income and Icl in the event that il is requid, to enable the managgd Closure of some or all Df the charity's aclivilies. The Iruslee5 have assessed the amount required lo be held in resetves on a risk basis and consider that a Min1uM sum of £150,000 should be held for these purposes. Al the end of the year the freely available reserves held by the charity were grgatgr than the minimum required reserve amount. Financial Rovlow The two nIreS operate through a wholly owned subsidiary Company. The Community has taken advantage of the exemptions available to il to not prepare consolidated accounts. However, the Trustees wish rllembers lo know that the company reported an unrestri¢ted nel surplus of income over expenditure during the year of £37.6781£57,928 in 20231 and had a nel asset surplus as al 31 March 2024 of £140,7521£103,074 in 20231. The incorne received from investments, membership foes and donations has been uts'lised towards the govemance and management costs of the Community. After these costs have been applied there was a residual surplus of £10,185 which has b88n rètained within the Community. Depreciation of £29,688 was charged in the year leading lo an operating deficit of £19,503 before transfèrs and ¢apitsl gains I losses.
THE OTHONA COMMUNITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Charity No. 277843 Th& invostment portfolio income continued at lower levels following the capital expendilure incurred in 2020 and 2021. Market conditions improvéd slighlly on previous years and and at thé ènd of th8 yèar th8 invèstmènt portfolio showtsd an increase in value of £29,271 12023.. loss £56,0581 which after transfers from designated reserves resulted in an overall surplus in the communitls funds of £9,78812023'. deficit £48,823). During the year no capital withdrawals were made from the investment portfolio lo finance either Capital projects or the working capital needs of the Centres12023.. £nill. Trustees are grateful lo individual member5 and supporters who responded lo fundraising appeals included in emailed newsletters, donations lolalling £8,837, including gift aid. Trustees have been monitoring spending al both cenlres on a regular basis and the Community Treasurer meets with the warden every quarter lo review financial performance. The charity maintains a nurnber of reslricled funds- these are funds where the donor has placed restrictions on how the money can be used. Al the end of March 2024 restricted funds lotalled £75,18112023.' £31,870}. The trustees have chosen to designate some of the unrestricted funds for specific purposes. This is at the discretion of the Irusloes and the ne&d for the designation is kept under rggular rovigw. At th8 ond of March 2024 designated funds lolalled £51.80012023.. £52,833). structure, Governance and Management The structure. governance and management of the Olhona Community continued ID be in accordance with the Trust Deed, as rovised in 2008. The structure of the Trust and the wholly owned Company limited by guarantee remain the same. There is a good range of expertise amongst the Trustee1DiCIOrs. Appointments made during the year were., Mark Ringrose and Michael Dyer link Trusletrs al Othona Bradwell. Janel Web51er. John Smith and Sasha East stood down as Trustees, we thank them for thtsir valuable input. The main focus Ihis year has been the appraisal of our built assets and a strategic review of the work of both centres. bringing Trustees and Managers to a shared understanding ol the short and medium temi priorities. The cost of the desired work to Community House Wesl DoTsel was found to be prohibitively expensive, we need lo think again about the West Dorset site. A new website was commissioned and work is ongoing to populate this to launch at the end ol 2024. The main focus for governance the previous year was Ihts Complete revitsw and rewriting of tho Safèguarding Policy and Procedures. Audits in year at both cenlres show good operational implernenlation. Trustees acknowledge that Ihls is an administrative load on the staff team when recruits'ng staff and volunteers. Future Plans To increase access to the ntre$ by.. keeping the cost of visitin9 as competitively prId as we can. offering bursaries to those who need them and having the option of camping at Othona Bradwell. Keeping prices low decrèases our profit, this necessilales fundraising for any capital devoloptnents. To fund raise by appeal to Merllbers, visitors and friends and by applying for grants when these arts available. To Continue lo explore ways of increasing the privacy and Comfort of the core staff accommodation at Othona Bradwell and lo increase staff accommodation by one unit at Olhona West Dorset. To continue lo recruit and appoint TrusleelDiredors and Committee Members lo manage the charity and the centres. There is a vacancy al Olhona Wesl Dorset for a link Trustee. To wnts'nue lo manage our land for nature conservation. To continue the strategic review of the Charity ahead of our 80 year anniversary. looking al our charitablè airns. being clear about our public benefit and updats'ng our Charitable Obj&¢ts. By order of the Trustees. Clare Gough Chalr of Trustees 21 September 2024
THE OTHONA COMMUNITY Charity No. 277843 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OTHONA COMMUNITY l Teport to the trustees on my examinalion of the financial ststements of The Othona Community I"Ihe chariw'l for the year ended 31 March 2024 which comprise the Slalemenl of Financial Aclivilies, the Slalemenl of Financial Position and the related notes. This report is made solely to the charitls trustees, as a body, in accordance wlh Section 145 of the Charities Act 2011. My work has been undertaken so that I might state lo the charitys trustees those matters that l am required lo slate lo them in this report and for no other purpose. To the fullest exlenl pemitted by law, I do not 8¢¢epl or assume responsibility lo anyone other than the Charity and the charills trustees as a body, for my work, for this report, or for the opinions I have formed. Respective responslbllitiès of truste8s and examlnor As trustees of th& Charity you are responsible for the preparation of the financial statements in accordance with the requirgments of the Charits'es Act 2011 1"Ihe Acfl. I report in respect of my examination of the charity's financial slalemenls carried out under section 145 of the Act and in carrying out my examination I have followed all appli¢able Dire¢tions given by the Charity Commission under section 14515llbl of the Act. An independent gxamination does not involve galhering all the evidgn¢e 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 l express no opinion as to whtsther the financi8151aletnents present a 'lrue and fair. view and my roport is limil&d to those specific matters sel out in the independent examinerfs slalemenl. Independent examiner's statement I have ¢ompleted my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any rnalerial respect.. accounting records were not kept in respect of the charity as required by section 730 of the Act., or the financial stat¢ments do not accord with those records,. or the financial slalements do not comply with the applicable requirements concerning the form and content of the accounts s81 out in the Charities (Accounts and Report} regulation 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of the independent examination. I have no concems and have COTne across no matttsrs in connection with the exarninalion lo which attention should be drawn in this report in order to enable a proper understsnding of the financial statements to be reached. Javed Salim FCA Independent Examiner Alwyns LLP Crown House 151 High Road Loughlon Essex IG104LG asl,, liol*
THE OTHONA COMMUNITY Charlty No. 277843 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Notes Unreslrfctod Doslgn•lod Fund5 R8¥tri¢t*d Funds Total Funds Year End 3110312Tr24 Total Fund Yr End 3110312023 INCOME AND ENDOWMENTS Subscriptions, legacies and don8tions 8,837 21,828 62,848 93,513 52,806 Inv8stm8nt incom8 23,997 23,997 23,622 Other in¢om8 18,172 18.172 10,313 TOTAL INCOME 13 51,006 21,828 62.848 135,682 86,741 EXPENDITURE General expenditure and eosls Other 8XP8nditura DepCiatIon TOTAL EXPENDITURE 10113 819 40.821 40,821 42,398 29,688 112,907 27,341 42,924 29,687 99,952 22,861 19,537 29,688 70.509 22.861 19.537 Total ineome lèss ttstal exponditure 119.5031 (1,0331 43.311 22,77S {13.211 GaSnsl Ilossesl on Investment A55ets 29,271 29,271 156,0581 NET MOVEMENT IN FUNDS 9.768 11.0331 43,311 52,046 169,2691 RECONCILIATION OF FUNDS Total funds brought forw3rd 14 3,882,624 52.833 31,870 3.967,327 4,036,596 Total funds carrled forward 3,892,392 51,800 75,181 4.019.373 3.967,327 All of the abov8 results ar8 d8riV8d from continuing acbvitles. The were no othw recognised gain5 or105ses other than th0$8 stated abov9. The notes on pages 10-15 form part of the financial staternents.
THE OTHONA COMMUNITY Charity No 277843 STATEMENT OF FINANCIAL POSITION AS AT 31st MARCH 2024 Notes 31 March 31 March 2024 2023 Ftxed assets Tangible fixed assets-Al Cost 3.085,404 3,115,092 Investment portfolio- At Markèt Value 681,404 3.766,808 651,832 3,766.924 Currènt assets Cash al bank and in hand Short term deposits Debtors 18,308 336,788 1.893 356,989 29,161 241,723 1,342 272,226 Currant LlabllStl&s Anounts falling duè wSthln one year 104,424 71,823 Net current assets 252,565 200,403 Total assets less current liabilitiès 4,019,373 3,967,327 Funds Unrestricted Funds 3,892,392 51,800 75,181 4.019.373 3,882.624 52,833 31,870 3,967,327 Designated Funds Restricted Funds The not&s on pages 10-15 form part of the financial stalernenls. Appi(>ved and authorised for issue by the Trustees on 21 September 2024 and signgd on their behalf by.. Clare Gough Chair of Trustees Michael Hunt Tr8asurar
THE OTHOMA COMMUNITY Charlty No. 277843 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I GENERAL INFORMATION Th8 charity is an uninrpOrated tnllty. The 8ddross oflhe prfndpal offic* is Othona Community House, Coast Road, Burton BrAdstock. Bridport. Dorsel DT6 4RN. 2 STATEMENT OF COMPLIANCE These financial slalemenls have been prepared wmplwnce wiu) FRS102. Tre Flnanoal Raporung Standard applicable in Ihe VK Bfid Republic of Ireland,, the Slalernent of Recommended Practice applicab to Gharilies preparing their accounts in 8¢¢ordance with Ihe Financial Reporting Standard 8ppIicgble in the VK and Republic of Ireland IFRS102lleffacbV6 1 January 20191 (Charities SORP IFRS10211 and th8 Charities Act 2011. In accordsncewilh FRS 10213.3AI, Ihe charity is a public benefit entity th81 h85 applied Ihe"PBE" prefixed paragraphs. 3 ACCOUNTING POLICIES Basis of preparation Tttè financial statements have b6en prepared on the historical cost basls. as modifiad by th6 rèvaluation of certain finandal asset8 and liabilities and inve51melll prop£rties measured atf8ir value through income or expenditure. The finanal slalemenls are prepared in steding, which Is the functional currencyof the charitylo the ne3re51 £1. ts. Golng concarn The trustees have considered Ihe consequences of COVID.19, the war in Ukraine and other events and conditions. and have delermlned thai they do nol create a rnalerial UnrtaInty that casts sl9nlficanl doubl upon tha Charity's ability to continue as 8 golrKJ cOnM. Fund accounilng General fund5 COtTrPri58 Ihe accurnulated surplus or doffl¢it on lh8 Statsrnenl of FinanrAal Aclmlies. They are availalAe for use at the discretion of the trustees in furtherance of the general objective5 of the Communty. Reslricte(I funds are subject lo speGific StriCt conditions Imposad by donors or by th8 purpose of the appaal. The purpose and use ol the restricted funds is s81 out the nOS to the financial statements. Designated fund5 are unrestricted fund5 which have been eamiarked by Iha Iruslees for particular puFpo$es. d. Incoming resour¢eJ All Incomino resour¢t8 are r8cognised once the charily has trntillement lo the r8sources, il is certain that the resour$ Mryll b& received and the monetary value of incoming resources Gan be measured with sufficient liabIlity. Where Income Is received in advance of a st¥y.11 Is daferred unUI the charlty 1$ onulbd lo Ihal Inco. No amounts are includèd in Iht a¢¢ounts for the value of services prOded byvolunleers. O. Resources oxpond8d Liabilities are recoynised as resour5 expended as SODn as there is a legal or constructive oblig81ion ¢ommitbng the Charity to the exp&ndilure. NJI expandsiure Is acwunl8d for on an accruals basls. Chariiable expenditurè comprisès Ihogtr tosts incurred by tha charity in the delery of 115 aclivilie5 and setvice for its beneficiarie5. 11 includes those costs thal be glbcated dlraciiy to such aclfvilies and those ¢osis of an Indire nature necessary to support them. Govarnance LY)s18 include Ihoso cos15 associated with meeting Ihe conslWtional 8nd 51alulory requirements ol the charity 8nd include the avdil fees 8nd costs linked lo the Strategic managtment of the charity. Where costs cannot bè dIreCt attributed they have been alloGaled lo activities on a basis consislenl wlth use ofresoUs. l. Tangible fixed asset5 and depreciation The freeho fun¢iion81 propèrties wara In 1997 represented th1Th th8 slalamenl of finanraal posibon ai insuran¢t rèinslatemenl cost. in consuttation SBJ Stephenson Limited, Insuran brokers. lo which historic cosis incurred sinte then have been added. Trustees wll be reviewin9 which app¥opriale basis of vaall)n lo use for Iht8a prop8rties during th8 fulur8. Apart frorn the wrts. these properties are not depciated a5. in the opinion of the Iruslees. they have a useful life as buildings greater than fifiy y8aTS and anydepre¢iation ¢har98 is considtrr8d Immaleri81. Al each statementof finanual position date, thè prop8rbes are assessed lo deleTtnine if there are indicators that the properues may be Impaired In VBlue.' if there are such indicaLors of impaimienl. then 8 comparison of the properties. ¢8rryin9 value to ils recoverable 8rnthJni 1$ undertaken. Anyèxcess ovèr th& rtcovèrable amount Is rècoynisèd as an impairm8nt bss and charged a5 expenditur8 Sn the SOFA., the rryIng value is redThd 8ppropriately. g- Fixed a¥¥et investsnent a. Inveslmenis 8re initially measured al cosl and subsequenlty al fail value Ilhtrir tnarket valutrl as al Ihe balance sheet dale. The Slalemenl of Financial Actmties inclijdes the nel gains and losses arising on the valuatn and disposals roughoUt th8 yaar. b. All gains and losse5 are tsken lo the Slalemenl of Financial Aclivikne5 a$ they a$8. Unrealls8d gaSns and losses are G4lculatsd a5 Ihe difference beiween the m8rkéi valuè 81 the 8[ 8Trd and opening TTHrkel value lor dale of purchase if laterl. io
THE OTHONA COMMUNITY Charity No. 277843 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4 TANGIBLE FIXED ASSETS Freehold Land & Bulldings Investment portfolio Total Total 3110312024 3110312023 Bookl Market value 1 Aprll 2023 Additions Disposals Revaluations Depre¢ialion Increase I (Decrease) in cash held Bookl Market value 31 March 2024 3,115,092 651,832 455,162 1211,9001 29,271 3,766.924 455,1fj2 1211.9001 29,271 129,6881 1242.9611 3,766,808 3,835,519 136,560 1353,2061 15fj,0581 129.6871 233.796 3,766,924 129,6881 1242,9611 681,404 3,085,404 Net book values As at 31 March 2023 As at 31 March 2024 3,115,092 3,085,404 651,832 681,404 3.766,924 3,766,808 Historic Cost as at 31 March 2023 Historic Cost as al 31 March 2024 3,115,092 3,085,404 646.739 644,096 3.761,831 3,729,500 Investment portFollo at market value comprised 3110312024 3110312023 Epworth Equity Fund Epworth Global Equity Fund FP Foresight Global Real I Property Income Trust for Charities Epworth Corporate Bon¢J Fund Other Investrnent Funds Epworth Glimale Stewardship Cash held by Investment Manager 109,395 262,218 66,708 212,071 51,457 76,000 49,980 12,800 131,307 109.786 1,990 681,404 249,524 651,832 l invgstmgnts aro hgld in the Unlted Kingdom. Investment The charity owns The Othtsna Community, a company limited by gu8ranteg. Thi5 cornpany is regard8d as a wholly owned subsidiary of the charity. The charily has taken advantage of the exetnption5 available to it and has not prepad Consolidated accounts. The Company had a nel asset Surplus a8 al 31 March 2024 of£140,75212023'. £103,074). S DEBTORS 3110312024 3110312023 Tax recoverable on Gift Aid donations Other debtors and prepayrnents 1,051 842 994 348 6 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 3110312024 3110312023 Amount due to subsidiary Deferred grant Creditors and aGcruals 95,429 6,353 2,642 61,994 6,841 2,988 li
THE OTHONA COMMUNITY WOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7 UNRESTRICTED FUNDS Goln I Dèpr¢latlonl (Losgesl on Oulytslt)g9 lnStM&nts Trdll5f¢r between Funds BalAneA 31m312023 Futhds rBcèlwd Balan 3110112024 1 Gener21 (Fixed a55et5 Futvjl 2 G¢nèral Funds 3.430.714 451.910 129.6881 29.271 3.430.297 462.095 51.006 3,882,624 51,006 70,509 29,271 3,892,392 1 GgnBral IFix£d asatyls Fund).. Thls represents the fixed assets lfid, propetyaThJ investmen151 of Ihg charity 2 GenBral Funds.. Thi5 rsprssents the unreslrlcied funds generAIIyAvaikqble to supportlheAcbvibe5 of 1CharilY 8 DESIGNATED FU14DS Translgr bBtWegn lunds Balance 3110312023 Funds elved Balance 311Q312024 Outgolng 1 OWD Designat R9Sgtv 2 Bradwell Devetoptngnl Furwj 3 Bradwell- Bursary Fund 4 OWD Peaple Fu 40,514 1.260 3.491 7.568 40,514 15.389 .439 16.5891 16.2721 3,658 52,833 21,928 122.8611 51,OQO Dos&n$l$dFund&puOSs OWD Desl9naled R&serv9". Thls r¥pr&s&nl¥ funds ollotaw bythe stspwrt InlllÈNves Atothona We51 Dorsel. An inllial allgc81iw of £45,000 was e51ablSshed Ihg trading cornpanyvéas established. 2 Bradwell De0pmnI Fund.. This represents fund5 alloGaled lofund MajorkS at BraoK¥ell 3 8radw¢ll Br3aryFunrt.. This represen15 fUS held to provide bjnsaries lo wsitor5 to Brady11 4 OWD Pgopth Fund." Thi$ represerts funds used by the MagentcornmILtee alOWD 10 Suwpernal needs and r£que5L8cf induS. 9 RESTRICTED FLINDS Tran8f•r betwepn Funds Balance 3110312023 Funds rKelved Balancfj Oulgoln9S 3110312024 1 Bradrfl Gard&n ol P&Bce 2 Bradwell Wind Turbifiè 3 Br3dwell Essex Communlty Foundation FuTbd 4 OWD Bu11g Fund 5 OWD Chapel Window5 Fund 6 Central A HaFdyMemorial Fund 7 Rlchard IAulkern Mernorial Fund 6 CenlrÈl WBrden Devek)prnenl Fund 9 &radwell Yurt Rxqnva5sing 10 Bradwg11 Savpgè STrLÈm 467 8,180 14671 8.180 10,575 110,5T51 1.513 4,833 173 1,428 4.701 3.791 50.562 4.833 173 1.428 4.701 12,286 50,562 18,4951 31.B70 62,848 119.53 75,181 Rg5tricl8dFundsFundpuwosos 1 BrAdwell Garden of Peace.. ThiB repr&Benls funds held lo d8v8lop th& Peace Gard8D ai Br$dwfll 2 8radwg11 Wind Turbln¥.' Thls represen15 funds held 10 Supthe fuluredevdoptnentof a lutbin9 at Bradwell 3 Bradwell Essex Community Fulld.. representsfvnds re¢eivgd from th8 Essex COmmunrfyFoundali to support cotnmunityini&aliv9s al BradwÉll 4 OWD BUilg Fund.. This repr¢sonts deV0PMen1 fund tor maSDrworks al OWD S OWD Chap81 Window6 FutEd". This r9pfpsEnl$ funds ld lo repce dllèpldated vAndows In the Ch Èl OED 6 C8nlralA Hardy Fvnd." This repregenL% fund5 he to provide bursBrie5 ale1thercen1 forforew students from Easlem Europ 7 Rlehard Mulken memori81 Fund.. This rePrenIS fund5 hdd to wovvk newderkirbg fDrlroDt of stP ai 8 Cenlralwarden Development Fund Th1$ rÈpreseni8 lunds tte 10 5UPPOrt the professional developmenloltheYrdrden5 al both cenlres 9 Bradwell Yurt RVaSsIng- fund5 held lo rep]ace the canvass on the ex16ting yurts. Projoclto be cornpd in 2024 1D Bradwell Sewage Systetn- fufids hgld to install rh$W$ewÈ systpm to *rviCÈ thè Bradwell cenlre. Prcleciio bè undwiak•n duriny2024. 12
THE OTHONA COMMUNir Charlty No. 277843 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10 TOTAL COMMUNITY EXPENDITURE Staff costs Other costs 3110312024 3110312023 Management and administration of charity 180 40,641 40.821 27,341 Staff costs Oth8r costs 3110312023 3110312022 Management and administration of charlty 354 26,987 27,341 27,470 11 TOTAL COMMUNITY STAFF COSTS 3110312024 3110312023 Pension Scheme costs 180 354 The charity had no paid employees during the current and preouS year. 12 TRUSTEES. REMUNERATION AND EXPENSES No trustees received any remuneTatitsn during the year. During the year 9 trust8es12023- 11 Irusteesl were reimbursed expenses lotalllng £1,50312023- £1,587) in r6spect of travel costs. 13
THE OTHONA COMMUNITY charlty No. 277843 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13 CENTRAL FUND OPERATION INCOME AND EXPENDITURE Total Year End 3110312024 Total Y•ar End 3110312023 INCOME Interest and dividends received Donations Grant re1vable Membership gubscrlptions Contributions frorn projects Other incotlle 23,997 6,935 489 1.413 13,830 4.342 23.622 17,991 489 1,419 5.360 4953 51,006 53,834 MANAGEMENT AND ADMINISTRATION OF CHARtrY Pension Scheme costs Accountancy and professlonal Invèstment Managers Fees Database & web site development & management Insuranc6 Publications & marketing Trustees expenses including travel costs Trustee m88ting costs Subscriptions Legal Expenses Postage, freight & courier Webslle 180 16.402 354 15,997 1.227 2,966 S02 1.020 1,877 3.285 105 2.935 472 125 1,625 4.200 99 6,867 7.916 40.821 27,341 NET OVERALL SURPLUS FOR THE YEAR 14
THE OTHONA COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 PRIOR YEAR'S STATEMENT OF FINANCIALACTIVITIE5 Unrestrfctsd Funds Doslgnatod Fund8 Restrfcted Funds Total Funds Y8ar End 3110312023 Total Fund5 Year End 3110312022 INCOME AND ENDOWPAENTS SubscriptlDns and donallon8 Inveslmant Income Qlher inwme 19,899 23,622 io,ai3 53,834 6,823 26.084 52,806 23.622 10,313 86.741 44.901 18,667 3.224 65.79Z TOTAL INCOME 6,823 26.084 EXPENDITURE General expenditure an costs Other 8XP8nditur8 Depreciation 27,341 27,341 42,924 29,687 99,952 27,470 16,596 18.503 71569 34,876 29,687 57,028 TOTAL EXPENDITURE 34.876 Total Income lÈss ttstsl èxpÈndlture 13.1941 11.22SI IB.7921 113,2111 16,7771 Transfers belween Funds Gainsl11088881 on Inv8Stm&ntAs88ts 10.430 156,0581 110.4301 56,058 46.998 NET MOVEMENT IN FUNDS 148.8211 111,6551 18,79ZI 169,2691 40,121 RECONCILL4TION OF FUNDS Total funds brought fOard 3,931.446 40,662 4,036,5 3.996,375 Totsl funds c8rrl8d lorward 3,882,624 S2#8 SI10 3,967.327 4,036.596 15