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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 02067438 (England and Wales) REGISTERED CHARITY NUMBER: 295355

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2022

for

Ordinary Life Project Association

Monahans Statutory Auditor Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA

Ordinary Life Project Association

Contents of the Financial Statements for the Year Ended 31 March 2022

Page
Chair's Report 1
Report of the Trustees 2 to 9
Report of the Independent Auditors 10 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 27

Ordinary Life Project Association

Chair's Report for the Year Ended 31 March 2022

The Council of Management (the trustees) of the Ordinary Life Project Association (OLPA) has pleasure in presenting its report and audited accounts for the financial year ended on 31 March 2022.

The objects of OLPA are defined in our company Memorandum and Articles of Association as follows:

"The relief, care and support of people with learning and/ or other disabilities, by the provision and management of homes and/ or support and services of other kinds in order to enable people with learning and/ or other disabilities, through the means of ordinary housing in the community and education, employment, leisure and training, to make and receive the fullest contribution to and from the life and company of the community and in so doing to develop their own personal skills and abilities and take responsibility for and control over their own lives."

The Report of our Chief Executive Officer is at the heart of this document and, as he will explain, this year again has not been an easy year for OLPA, which, in common with other social care charities supported by statutory funding, continues to be affected by external budgetary factor

However, the standard of care we provide has not been diluted and the objects of the charity have been fulfilled. The leadership of the Chief Executive Officer and the commitment and devoted work of our management and care staff have been beyond praise. I note, in particular, the way they have responded to the initial alarms - and the demands - of the pandemic. For this they have the admiration and thanks of the Council of Management.

I take the opportunity to thank also my colleagues on Council for their own continuing commitment to OLPA's work and the support they have provided to me, to the management and staff of the charity and, most importantly, to the people we look after.

Ray Edwards Chair of the Council of Management.

Page 1

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

The trustees (known as the Council of Management), who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the financial statements of the charity for the year ended 31 March 2021. Council has adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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 published in October 2019.

OBJECTIVES AND ACTIVITIES

The charity exists for the advancement of health and the relief of those in need by reason of disability, recognised charitable purposes under charity law. The Council of Management has consulted the Charity Commission guidance on public benefit and consider that OLPA conforms fully to the necessary requirements. Funding for day-to-day care provision comes mainly from Wiltshire County Council Department of Community Services and the benefits of the charity are open to any adult who has been assessed by the Wiltshire Department of Community Services as being in need of care and a suitable candidate for the services which OLPA provides.

The philosophy of OLPA and its fundamental aim are derived from the charity's formal objects and they are directed at enabling the charity's clients to live and enjoy as full a life as possible in their community. This is does in a practical sense by:

Residential care Providing small community-based homes and in-house care for people depending on
individual needs;
Community Resource Associating with other agencies to enable people to have their own homes and
providing care to those people and to people otherwise living in their own homes;
Support Providing support for all its clients in accordance with our values.

These activities are supported by and administrative headquarters in Warminster, providing management, development and training of the charity's staff, quality control of services and the management of resources.

OLPA's "historical" business is the provision of residential care and this continues to be the main thrust of the charity's work. Over the year, the main part of OLPA's expenditure £1,806,245 was on this. The lesser part of expenditure was on the charity's Community Resource function. This accounted for £341,186.

The people cared for by the charity have a wide variety of learning, physical and social needs and OLPA has continued its initiatives in training, development of services and financial management, so as to ensure that the range and standard of care provided remain at a high level and meet not only the relevant statutory requirements and individual needs but also the demands of efficiency and financial prudence.

In addition, the Council of Management sets great store by an adherence to OLPA's values, deriving from the Charity's objectives and directed towards the personal development of the charity's clients. This embraces such things as training in life skills, help in personal development and the development of personal relationships, the provision of educational, recreational and socialising opportunities, and the fostering of a sense of belonging and encouragement to foster a sense of belonging in others.

The Council of Management employs a number of mechanisms to ensure that OLPA's values are promoted and its standard of care maintained. These include management reports, external care sector reports and publications, workshops and strategic reviews. In addition, the charity's care provision is regularly reviewed by the Care Quality Commission.

Page 2

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE

Chief Executive Officer’s Report

The reporting year, April 2021 - March 2022, saw OLPA continuing to deal with the complications and dangers brought by the global pandemic, albeit with slight easing of some restrictions in the latter part of the period. Many of the people we support had been unable to see families and friends, and prevented from continuing with their usual day to lives for the best part of two years. The isolation rules for care homes had left them restricted to their rooms if they or others in the services had tested positive for the virus and they were faced with staff wearing full PPE at all times, meaning familiar and friendly faces were hidden behind masks, making communication particularly difficult. The testing regime required the discomfort of Lateral Flow and PCR testing on a regular basis, particularly distressing for those who did not understand the reasons behind the programme.

I have been amazed and heartened by the resilience and patience that we have experienced in our service users during these most challenging and difficult of times. By and large people have accepted the restrictions with good grace, and found alternative ways to spend their time, keeping in touch with families and friends through the use of information technology where reasonable and practical. Families also have been very supportive, accepting without question that as an organisation we are bound to stick with regulations and that actions are taken to protect everyone in our services, not just a particular family member.

Our staff have also risen admirably to the challenges, particularly the discomfort of wearing full PPE at all times and the unpleasantness of undergoing rigorous and invasive testing before any time at work. The staff's dedication to the people supported and commitment to their safety has been incredible and praiseworthy indeed. We have been fortunate in that we avoided any deaths or serious illness, despite having had outbreaks in some homes, and other isolated incidents amongst staff members.

People supported in the community by our outreach teams have also suffered, especially those living alone, who have been particularly isolated, with staff often being the only personal contact they have had.

We have been supported by Central and Local Government programmes to ensure the safe, regular and free supply of PPE, testing kits, sanitisers as well as grant funding to enable staff to work in just one location, and to pay for replacement staff costs when employees have been of sick or isolating due to vulnerability.

Some easing of restrictions happened towards the end of the reporting period, and people living in our houses very much relished the return of family and social contact, and a move back to their previous lifestyles. At the time of writing, the use of PPE remains a requirement in our registered homes, and we anticipate that this will continue into 2023, the time scheduled by the Government for the end of the free PPE distribution portals. We are still encountering occasional cases of Covid, both amongst staff and service users, however all those eligible and who choose to be are fully vaccinated and so infections have been relatively mild and recovery swift.

In recognition of the efforts and commitment made by our staff the OLPA Trustees took the decision to award a one off payment of £750 to all employees. This was very greatly received and appreciated.

We have again returned a surplus for the reporting period, although smaller than the surplus of the previous year. Any surplus is of course welcome, and allows us to continue our work, however it should be noted that a large percentage of the surplus is made up of returns on our cash and property investments rather than generated by our operational activities.

We continue to struggle with inadequate fee levels set by local authorities, particularly our main funder, who has adopted and imposed an algorithm based fee setting tool, patently unfit for purpose, with unrealistic cost assumptions. Arguably, the tool is often misapplied in negotiations, often by local authority officers with little or no experience of the costs associated with running a business and employing staff. We as an organisation are of course not alone in this, with many other providers exiting the market as they find themselves unable to break even. Unfortunately our options for changing this situation are limited, as local authorities are largely the only purchaser of our services and use their dominant position to dictate and manipulate terms and conditions to the detriment of a free market. Whilst we understand the invidious position in which local authorities find themselves after year on year attrition of funding in the name of austerity, if this stance is to persist many more providers will be unable to continue to operate and the much published crisis in care will reach an irretrievable point. The very real care emergency is highlighted often in the media, however the promises of fixing social care have so far come to absolutely nothing as Government ministers are seemingly unable to find a solution palatable to themselves or are otherwise occupied.

Page 3

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

The largest and most worrying threat to our continuing existence is without doubt staffing. We are finding it nigh on impossible to recruit staff, and without staff we simply cannot continue to provide services. There are a number of reasons for this, the main one being salaries. Local authority funding formulas allow for minimum wage, and in fact less than minimum wage when on costs are taken into account. Wages available in other sectors are higher than minimum wage, and the roles less stressful, with better working patterns and conditions. People, especially in this expensive region, find themselves unable to survive on minimum wage, albeit that the job might bring other less tangible rewards. The undervaluing of social care staff along with other vital keyworkers is a sad indictment of the philosophy that appears pervasive amongst those who currently govern.

Other circumstances also contribute to the problem. We lost a number of staff due to the Government's Regulation, later and too late rescinded, that all social care workers needed to accept vaccinations. Brexit has also had a negative impact on us, along with many others, as people from other nations departed, leaving skills shortages in many businesses, most able to offer better pay than social care and therefore tempting potential recruits away into hospitality, service, logistics etc. The pandemic has also clearly played a part, with people re-evaluating their lifestyles and departing from the labour market in search of other options.

The crisis in recruitment led us to make the incredibly difficult decision to close one of our services during the reporting period. For the reasons above we found ourselves with only two permanent staff at the service, leading to managers working shifts and immense costs for agency staff. Clearly this situation was not sustainable and resulted in two people having to move from their long term home. Fortunately we were able to offer a bedroom in another service to one, and the other was relocated by the responsible local authority.

Relationships with local authorities are unfortunately increasingly strained as we find ourselves diametrically opposed in that we seek to improve people's lives, whilst they are necessarily forced to reduce support to the minimum possibly accepted by legislation that governs their statutory responsibilities. In conjunction with other providers OLPA continue to lobby and seek to influence the decision makers responsible for services commissioning.

On a more positive note, all of our services have retained their "Good" rating from our regulatory body, the CQC. Whilst the CQC have not carried out any recent in person inspections they continue to monitor by way of arms length processes and intelligence gathered. We of course continue to internally assess our quality and performance through feedback from people supported and their families.

We have also maintained our commitment to the training and development of our staff. Whilst face to face training has necessarily been curtailed during the pandemic, we have offered and implemented a regime of on line and distance learning in order to ensure that our teams are equipped with the skills and knowledge they need in order to provide high quality, effective support. It is likely that in future we will use a combination of face to face learning as well as utilising the opportunities and economies offered by virtual means.

So far as the future is concerned, we face many challenges. I have already mentioned the recruitment crisis, however we are also faced with massively increasing energy costs and inflation predicted to reach approximately 10%, with no prospect of any action to address these issues. Without urgent and realistic decisions at a national level I cannot pretend to be optimistic about the future of support for the most vulnerable in our society.

OLPA are fortunate in that our Trustees have taken a prudent and prescient approach to our reserves policy and so the threat to the existence of the organisation is not immediate, however the situation is clearly unsustainable in the long or even medium term, and without solutions we will be forced to reconsider our strategy and the continuation of our services in their current form.

In the meantime, we will continue to strive to maintain our work with the vulnerable people who need our support, with a commitment to our core principles of respect for our fellow humans, love, compassion, care and empathy.

Steve Gant

OLPA Chief Executive Officer.

FINANCIAL REVIEW

Finance

OLPA continues to operate on a sound financial basis, carefully keeping expenditure within the limits of the charity's income and continually striving to reduce costs without prejudicing the quality of care. The figures shown in Section 2. above indicate that the charity continues to be well-settled and active, despite the restrictions on funding of local authorities.

It is important to note that, as we receive the charity's funding from statutory sources, the Covid pandemic, in itself, will have no lasting effect on income and should not materially compromise OLPA's status as a going concern.

Page 4

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

FINANCIAL REVIEW

Reserves and future plans

The Council of Management maintains a policy of keeping the amount of the charity's financial reserves under review. Council's minimum reserves policy is to have in hand, at all times, reserve funds (that is, current assets) at least equal to six-months' expenditure, to protect the charity against delay or (temporary) shortfalls in funding. At the end of 2021-2022, OLPA's reserves, calculated in accordance with Charity Commission guidelines, stood at £2,230,980.

It must be borne in mind, however, that the above reserves figure includes the charity's essential Property Improvements and Purchase Fund. The charity owns several houses for the people we look after. It is in the nature of OLPA's activities that these will need work, from time to time, by way of improvement or change to accommodate the changing needs of residents or the new needs of new incomers. It may also prove necessary, in the future, to replace an existing property, which has become unsuitable, with a new one.

The Council of Management does not consider this level reserves excessive, especially as we are in uncertain times. However, as will be shown later, under Future Plans, the amount of reserves is at risk of being reduced in the near future.

In addition to "current assets" reserves, our accounts show fixed assets, the land buildings owned by the charity, valued at £1,511,249. This includes £1,074,217 for functional property valued at its historical cost, less depreciation. The Council of Management is of the opinion that a current market valuation would be between £2,500,000 and £3,500,000.

Page 5

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

FINANCIAL REVIEW

Internal financial controls

OLPA's policy on internal financial controls is based on the following key premises:

In-house reviews and annual examination of important aspects of control by the charity's accountants have confirmed that the necessary controls are being maintained.

Principal Risks and Uncertainties

OLPA's Council of Management has a duty to manage all risks to the effective management of the charity. Council has adopted a formal risk assessment policy which follows the relevant prescription in the Standard of Recommended Practice. The policy binds Council to:

The chief risk to the continued well-being and effectiveness of the charity derives mainly from:

To manage this first risk, OLPA conducts frank and vigorous negotiations with the local authority. We continue also to take steps to diversify the charity's work to include the type of client not previously catered for. The process of diversification will continue in the future.

The second risk is more problematical. It has become increasingly difficult to retain and recruit staff. The reason is simple; like other organisations similar to OLPA, we are unable to offer pay rates greater than those funded by the local authority. Staff naturally look for a salary that enables, at least, an acceptable standard of living and other, commercial, employers can outdo us one this. Caring for vulnerable people is undoubtedly a noble calling but, when the pay is virtually an insult to the carers, the result in inevitable.

Risk assessments are, as a matter of course, carried out in respect of all OLPA's residential clients and the properties in which they live.

FUTURE PLANS

Our Chief Executive Officer, in his report above, has detailed the ways in which OLPA is carrying out and developing its work and we will continue in this direction for the foreseeable future.

However, it is very likely that the future will be challenging. The pandemic may not have a significant effect on the charity's finances but it is presenting unforeseen difficulties and pressures on us.

Again as mentioned in last year's Report, the financial situation (along with other considerations) has turned our minds to the question of whether the charity's present business model needs to be changed. This would not, by any means, necessarily be all bad news. The interests of the people we look after would always have priority and it is our intention that any change in the model would provide a (perhaps, more) congenial and supportive environment for them. The demands of the pandemic have largely (and necessarily) taken our attention from this issue but it will be addressed in the coming year.

Page 6

Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

OLPA is a private limited company limited by guarantee, as defined by the Companies Act 2006, and is administered in accordance with its Memorandum and Articles of Association.

The charity is governed by the Council of Management of the charity. The members of Council are the directors of the company and the trustees of the charity . The Council of Management holds ultimate power and responsibility. Its function embraces the whole range of trustee responsibilities:

Members of the Council of Management are chosen for the added value they can bring to Council and to OLPA. Key to the assessment procedure is a realistic judgement as to whether or not the prospective member will be able and prepared to give the necessary to OLPA in terms of interest, time, energy and (where applicable) the application of specialist skills. An equal opportunities policy is observed in the recruitment of members. Council seeks also to maintain a balance of skills and outlooks among its members, drawing on experience of the care and health sectors as well as the organisational and financial knowledge and disciplines needed for the proper governance of the charity.

Council ensures that new members know what is expected of them - and are made to feel that they will be given the chance to make a valued contribution.

The Council of Management and the Chief Executive Officer constitute the top-level management of the charity, the former focusing on strategy and direction and the latter on operational matters and advising Council. All Council members give their time freely and no remuneration was paid to any of them during the year; nor were any expenses reimbursed.

Arrangements for Setting Pay and Remuneration of Key Management Personnel are as follows:

The Chief Executive Officer's salary is reviewed annually and determined by reference to the current pay level for comparable posts in the voluntary sector, derived from the annual review carried out by the Association of Chief Executives of Voluntary Organisations. (Account is also taken of whether or not junior staff have received a pay rise in that year.) The salaries of middle and junior management staff and of care staff are determined to reflect the current pay levels for comparable staff in the care sector.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02067438 (England and Wales)

Registered Charity number

295355

Registered office

Beckford Lodge Gipsy Lane Warminster Wiltshire BA12 9LR

Trustees

R E Edwards Chair / Treasurer C L Gill L Snelus L Gerrard

Company Secretary

S Gant

Page 7

Ordinary Life Project Association Report of the Trustees for the Year Ended 31 March 2022

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Monahans Statutory Auditor Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA

Chief Executive Officer

Mr S Gant

Solicitors

Middleton & Upsall LLP East Gate House 94 East Street Warminster BA12 9BG

Bankers

Lloyds TSB 64 Fore Street Trowbridge Wiltshire

Deposit Holders

The Cambridge and Counties Bank Bath Investment & Building Society Ltd 15 Queen Square Charnwood Court Bath New Walk Leicester Virgin Money Jubilee House Gosforth Newcastle upon Tyne

FUNDRAISING STANDARDS INFORMATION

The charity does not actively solicit donations from the public and has no need to develop formal policies on its fundraising approach.

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Ordinary Life Project Association

Report of the Trustees for the Year Ended 31 March 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also directors of the Ordinary Life Project Association for the purposes of company law and called the Council of Management) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Council of Management to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Council is required to:

The Council of Management is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Council is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Council of Management is aware:

AUDITORS

The auditors, Monahans, will be proposed for re-appointment at the December 2022 meeting of the Council of Management.

14 December 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

....................................................................

R E Edwards - Trustee

Page 9

Report of the Independent Auditors to the Members of Ordinary Life Project Association

Opinion

We have audited the financial statements of Ordinary Life Project Association (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 10

Report of the Independent Auditors to the Members of Ordinary Life Project Association

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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Report of the Independent Auditors to the Members of Ordinary Life Project Association

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Zz

James Gare (Senior Statutory Auditor) for and on behalf of Monahans Statutory Auditor Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA

19 December 2022 Date: .............................................

Page 12

Ordinary Life Project Association

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Provision of homes and care
Community resource
Investment income
3
Other income
5
Total
EXPENDITURE ON
Charitable activities
6
Provision of homes and care
Community resource
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
79,350
1,817,017
351,504
14,468
300
2,262,639
1,831,724
341,186
2,172,910
49,000
138,729
3,693,500
3,832,229		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
funds
£
79,350
1,817,017
351,504
14,468
300
2,262,639
1,831,724
341,186
2,172,910
49,000
138,729
3,693,500
3,832,229		 2021
Total
funds
£
116,351
1,992,337
326,872
16,504
-
2,452,064
1,838,560
296,858
2,135,418
23,000
339,646
3,353,854
3,693,500

The notes form part of these financial statements

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Ordinary Life Project Association (Registered number: 02067438)

Balance Sheet
31 March 2022
2022 2021
Notes £ £
FIXED ASSETS
Tangible assets 13 1,097,249 1,118,150
Investment property 14 414,000 365,000
1,511,249 1,483,150
CURRENT ASSETS
Debtors 15 68,397 206,644
Cash at bank and in hand 2,431,133 2,139,385
2,499,530 2,346,029
CREDITORS
Amounts falling due within one year 16 (178,550) (135,679)
NET CURRENT ASSETS 2,320,980 2,210,350
TOTAL ASSETS LESS CURRENT LIABILITIES 3,832,229 3,693,500
NET ASSETS 3,832,229 3,693,500
FUNDS 19
Unrestricted funds:
General fund 2,263,512 2,152,882
Property improvements / purchase fund 100,000 100,000
Fixed Asset fund 1,097,249 1,118,150
Revaluation Reserve 371,468 322,468
3,832,229 3,693,500
TOTAL FUNDS 3,832,229 3,693,500

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

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 14 December 2022

~~ ............................................. > R E Edwards - Trustee ............................................. L Snelus - Trustee

The notes form part of these financial statements

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Ordinary Life Project Association

Cash Flow Statement for the Year Ended 31 March 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2022
£
306,936
306,936
(20,032)
300
4,544
(15,188)
291,748
2,139,385
2,431,133		 2021
£
234,760
234,760
-
-
7,108
7,108
241,868
1,897,517
2,139,385

The notes form part of these financial statements

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Ordinary Life Project Association

Notes to the Cash Flow Statement for the Year Ended 31 March 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Profit on disposal of fixed assets
Interest received
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2022
£
138,729
40,933
(49,000)
(300)
(4,544)
138,247
42,871
306,936		 2021
£
339,646
39,553
(23,000)
-
(7,108)
(78,236)
(36,095)
234,760

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Total		 At 1.4.21
£
2,139,385
2,139,385
2,139,385		 Cash flow
£
291,748
291,748
291,748		 At 31.3.22
£
2,431,133
2,431,133
2,431,133

The notes form part of these financial statements

Page 16

Ordinary Life Project Association

Notes to the Financial Statements for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The Ordinary Life Project Association is an incorporated charity registered in England and Wales. The principal address of charity is given within the reference and administration details on page 6 of these financial statements. The nature of the charity's operations and principal activities are provided in the Report of the Trustees.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Companies Act 2006, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Local authority income

Income from local authorities is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. The major element of this income is in respect of a contract under which the charity receives payment for the provision of care and support services for people with learning disabilities. The contract is for an agreed amount per resident and the amount paid by the Local Authority is the difference between this figure and the amount the charity receives as income from the residents.

Income from residents

The sums due to the charity from the residents for the provision of care are recognised when entitlement has occurred. The major element of this income is the DSS benefits allocated to each resident and passed on to the charity. Other income from residents is recognised when received.

Investment income

Interest on funds held on deposit is included when receivable and the amount can be reliably measured by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

Charitable activities

Charitable expenditure comprises the costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.

Page 17

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, such as by project and by income received ratios as set out in note 7.

Tangible fixed assets

Fixed assets are included at cost less accumulated depreciation. Expenditure is only capitalised on individual assets with a cost of at least £1,000.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life, as follows:-

Freehold buildings Over 50 years
Fixtures and fittings 15% on the straight line method
Motor vehicles 25% on the straight line method

Cash at bank and in hand

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

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Investment property is measured at fair value, revalued at the end of each financial year based of the market value of equivalent properties.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

The charity's designated funds are those where the trustees have set aside money for specific purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial Instruments

The charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments, as defined by FRS102. The financial assets and liabilities and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and measured at fair value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instrument disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Page 18

continued...

Ordinary Life Project Association Notes to the Financial Statements - continued for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

Lease commitments

Rentals paid under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for certain employees. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme. In addition, the company makes contributions to National Health Service Superannuation funds in respect of certain care staff. As the charity has no liability in respect of any deficit on this Scheme the Scheme has been accounted for as if it were a defined contribution scheme.

Donated goods

Donated goods, services, and facilities are recognised when control over the expected economic benefits arising from the donation has passed to the charity, those economic benefits are more likely to arise than not, and the fair value of the donation to the charity can be measured reliably.

Where entitlement and probable benefits exist, yet fair value cannot be measured reliably, an estimate is included within the accounts as to the fair value of the donation, along with a description pertaining to the nature of the donation within the notes.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Grants		 2022
£
15,005
64,345
79,350		 2021
£
15,000
101,351
116,351

For this year and the prior year, an estimate of £15,000 is included within donations, in respect of donated goods supplied to the charity in response to the ongoing COVID-19 pandemic. This estimate is based on expenditure incurred in the first half of the prior year before the donated goods were received.

These PPE items include such items as gloves and masks, sanitisation products, and computing equipment to improve remote working conditions.

Grants received, included in the above, are as follows:

HMRC - Coronavirus Job Retention Scheme
Wiltshire County Council - Coronavirus Support		 2022
£
-
64,345
64,345		 2021
£
9,865
91,486
101,351

3. INVESTMENT INCOME

Rents received
Deposit account interest		 2022
£
9,924
4,544
14,468		 2021
£
9,396
7,108
16,504

Page 19

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Contracts
Provision of homes and care
Contracts
Community resource
Grants received, included in the above, are as follows:
County Council contract care income
Community resource
Resident DSS receipts
Mobility money
Housing benefits
Other income
5.
OTHER INCOME
Gain on sale of tangible asset
6.
CHARITABLE ACTIVITIES COSTS
Provision of homes and care
Community resource
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Repairs and renewals
Equipment hire
Sundries
Motor expenses
Agency staff
Housekeeping
Residents allowances
Recruitment Fees
Depreciation
Donated Goods Expenditure		 Direct
Costs (see
note 7)
£
1,517,724
281,381
1,799,105		 2022
£
1,817,017
351,504
2,168,521
2022
£
1,631,330
351,504
147,732
28,099
6,490
3,366
2,168,521
2022
£
300
Support
costs (see
note 8)
£
314,000
59,805
373,805
2022
£
1,272,870
22,814
16,947
33,968
10,048
50,684
3,998
31,669
6,568
194,218
71,024
24,228
5,649
39,420
15,000
1,799,105		 2021
£
1,992,337
326,872
2,319,209
2021
£
1,757,546
326,872
157,778
28,173
6,462
42,378
2,319,209
2021
£
-
Totals
£
1,831,724
341,186
2,172,910
2021
£
1,264,771
23,655
16,997
27,953
3,502
30,919
3,814
31,828
5,781
179,091
74,894
25,934
6,612
38,312
15,000
1,749,063

Page 20

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued

for the Year Ended 31 March 2022

8. SUPPORT COSTS

SUPPORT COSTS
Provision of homes and
care
Community resource		 Premises
and
associated
costs
£
8,809
1,672
10,481		 Office
and
associated
costs
£
39,254
7,477
46,731		 Human
Governance
resources
costs
£
£
253,838
12,099
48,351
2,305
302,189
14,404		 Totals
£
314,000
59,805
373,805

Basis of Apportionment

Costs directly allocated to activities have been split on a project basis. Support costs have been apportioned in the same ratio as income directly received regarding the two activities which approximates to 84% residential and 16% supported living.

Support costs, included in the above, are as follows:

Premises and associated costs

Premises costs
Office and associated costs
Office costs
Motor expenses
Telephone
Professional & consultancy fee
Bank charges
Sundries
Depreciation of tangible fixed assets
Human resources
Wages
Social security
Pensions
Payroll services
Staff training
Recruitment Fees		 Provision
of homes
Community
and care
resource
£
£
8,809
1,672
Provision
of homes
Community
and care
resource
£
£
10,735
2,045
8,890
1,693
15,514
2,955
1,000
191
1,616
308
11
2
1,488
283
39,254
7,477
Provision
of homes
Community
and care
resource
£
£
221,023
42,100
21,801
4,153
6,300
1,200
3,038
579
1,623
309
53
10
253,838
48,351		 2022
Total
activities
£
10,481
2022
Total
activities
£
12,780
10,583
18,469
1,191
1,924
13
1,771
46,731
2022
Total
activities
£
263,123
25,954
7,500
3,617
1,932
63
302,189		 2021
Total
activities
£
21,636
2021
Total
activities
£
10,042
10,055
14,818
1,171
1,079
3,252
1,241
41,658
2021
Total
activities
£
272,126
26,433
7,736
3,155
966
126
310,542

Page 21

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued

for the Year Ended 31 March 2022

8. SUPPORT COSTS - continued Governance costs

SUPPORT COSTS - continued
Governance costs
2022 2021
Provision
of homes Community Total Total
and care resource activities activities
£ £ £ £
Auditors' remuneration 12,099 2,305 14,404 12,519

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022 2021
£ £
Auditors' remuneration 14,404 13,000
Auditors remuneration - over provision last year - (481)
Depreciation - owned assets 40,933 39,553
Surplus on disposal of fixed assets (300) -
Property rentals 8,218 9,396

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2022
£
1,415,799
119,772
33,876
1,569,447		 2021
£
1,423,623
112,878
34,565
1,571,066

The average monthly number of employees during the year was as follows:

Care
Administration		 2022
56
9
65		 2021
61
8
69

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
£60,001 - £70,000 1 1

Key management personnel remuneration

The total amount of employee benefits received by key management personnel is £170,408 (2021: £166,527). The charity considers its key management personnel comprise the trustees and the Central Management Team, which is the Chief Executive Officer, the Residential Services Co-ordinator, the Supported Living Co-ordinator and the Personnel Officer.

Page 22

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
116,351
Charitable activities
Provision of homes and care
1,992,337
Community resource
326,872
Investment income
16,504
Total
2,452,064
EXPENDITURE ON
Charitable activities
Provision of homes and care
1,838,560
Community resource
296,858
Total
2,135,418
Net gains on investments
23,000
NET INCOME
339,646
RECONCILIATION OF FUNDS
Total funds brought forward
3,353,854
TOTAL FUNDS CARRIED FORWARD
3,693,500
13.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 April 2021
1,667,307
28,905
Additions
-
9,533
Disposals
-
(1,499)
At 31 March 2022
1,667,307
36,939
DEPRECIATION
At 1 April 2021
559,744
24,227
Charge for year
33,346
1,771
Eliminated on disposal
-
(1,499)
At 31 March 2022
593,090
24,499
NET BOOK VALUE
At 31 March 2022
1,074,217
12,440
At 31 March 2021
1,107,563
4,678		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
Motor
vehicles
£
58,390
10,499
(5,500)
63,389
52,481
5,816
(5,500)
52,797
10,592
5,909		 Total
funds
£
116,351
1,992,337
326,872
16,504
2,452,064
1,838,560
296,858
2,135,418
23,000
339,646
3,353,854
3,693,500
Totals
£
1,754,602
20,032
(6,999)
1,767,635
636,452
40,933
(6,999)
670,386
1,097,249
1,118,150

The trustees are of the opinion that a current market valuation of the freehold property is between £2,500,000 and £3,500,000.

Page 23

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

14. INVESTMENT PROPERTY

FAIR VALUE
At 1 April 2021
Revaluation
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
Fair value at 31 March 2022 is represented by:
Valuation in 2022
Valuation in 2021
Valuation in 2020
Valuation in 2019
Cost		 £
365,000
49,000
414,000
414,000
365,000
£
49,000
23,000
8,000
291,468
42,532
414,000

Investment property is revalued at the year end based on the fair value of the property estimated by the trustees via the use of market values of similar properties. Prior to 2019 the property was a functional fixed asset valued at depreciated cost. The large valuation adjustment in 2019 reflects the property's change of use and a change of valuation method to a fair value basis..

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income		 2022
£
22,933
45,464
68,397		 2021
£
31,178
175,466
206,644

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2022
£
90,478
24,371
920
62,781
178,550		 2021
£
58,342
25,957
-
51,380
135,679

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2022
£
8,958
3,614
12,572		 2021
£
8,958
9,583
18,541

Page 24

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Designated Restricted Total
£ £ £ £
Fixed assets - 1,122,724 - 1,221,724
Investments 117,532 322,468 440,000
Debtors 68,397 - - 68,397
Cash at bank 2,331,133 100,000 - 2,431,133
Creditors (178,550) - - (178,550)
2,338,512 1,545,192 - 3,883,704

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property improvements / purchase fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Property improvements / purchase fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Property improvements / purchase fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS		 At 1.4.21
£
2,152,882
100,000
1,118,150
322,468
3,693,500
3,693,500
e as follows:
Incoming
resources
£
2,262,639
-
-
-
2,262,639
2,262,639		 Net
movement
in funds
£
156,137
(25,475)
(40,933)
49,000
138,729
138,729
Resources
expended
£
(2,106,502)
(25,475)
(40,933)
-
(2,172,910)
(2,172,910)
At 1.4.20
£
1,796,683
100,000
1,157,703
299,468
3,353,854
3,353,854		 Transfers
between
funds
£
(45,507)
25,475
20,032
-
-
-
Gains and
losses
£
-
-
-
49,000
49,000
49,000
Net
movement
in funds
£
356,199
-
(39,553)
23,000
339,646
339,646		 At
31.3.22
£
2,263,512
100,000
1,097,249
371,468
3,832,229
3,832,229
Movement
in funds
£
156,137
(25,475)
(40,933)
49,000
138,729
138,729
At
31.3.21
£
2,152,882
100,000
1,118,150
322,468
3,693,500
3,693,500

Page 25

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS		 Incoming
resources
£
2,452,064
-
-
2,452,064
2,452,064		 Resources
expended
£
(2,095,865)
(39,553)
-
(2,135,418)
(2,135,418)		 Gains and
losses
£
-
-
23,000
23,000
23,000		 Movement
in funds
£
356,199
(39,553)
23,000
339,646
339,646

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Property improvements / purchase fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS		 At 1.4.20
£
1,796,683
100,000
1,157,703
299,468
3,353,854
3,353,854		 Net
movement
in funds
£
512,336
(25,475)
(80,486)
72,000
478,375
478,375		 Transfers
between
funds
£
(45,507)
25,475
20,032
-
-
-		 At
31.3.22
£
2,263,512
100,000
1,097,249
371,468
3,832,229
3,832,229

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Property improvements / purchase fund
Fixed Asset fund
Revaluation Reserve
TOTAL FUNDS		 Incoming
resources
£
4,714,703
-
-
-
4,714,703
4,714,703		 Resources
expended
£
(4,202,367)
(25,475)
(80,486)
-
(4,308,328)
(4,308,328)		 Gains and
losses
£
-
-
-
72,000
72,000
72,000		 Movement
in funds
£
512,336
(25,475)
(80,486)
72,000
478,375
478,375

Property improvements / purchase fund

This fund is to be used for major improvements to property and towards future acquisitions.

Fixed asset fund

This fund represents the total value of fixed assets held by the charity at the year end date.

Transfers

Transfers have been made in the year to update the fixed asset fund to represent the total value of fixed assets held by the charity.

Page 26

continued...

Ordinary Life Project Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

20. RELATED PARTY DISCLOSURES

During the year, there were no related party transactions (2021: nil)

21. ULTIMATE CONTROLLING PARTY

The trustees consider that the charity is jointly controlled by the trustees and that there is no ultimate controlling party.

Page 27