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2024-03-31-accounts

Report and Financial Statements for the Year ended 31 March 2024

ANNUAL REPORT

“The inclusive community is the best bit, gyms can be intimidating spaces, especially for women, but OXSRAD is very different."

TABLE OF CONTENTS

Trustees’ Report

About us
Our services
Understanding the challenge
Responding to the challenge
Our facilities and activities
Monitoring, evaluation and consultation
2024 consultation findings
Structure, governance and management
Trustee and administrative information
Financial review
Statement of Trustees’ responsibility
Financial statments
Independent Examiner’s Report
Statement of the financial activities
including income and expenditure account
Balance sheet
Notes to the financial statements		 4
8
6
10
12
13
18
19
20
21
9
22
23
24
26
consultation

Thank you!

...for the generosity shown by our supporters throughout 2023. You have enabled us to continue our vital work, creating a space where everyone, regardless of ability, can improve their health, mental wellbeing and build confidence. Your support has directly contributed to the programs, facilities, and opportunities that make OXSRAD such a unique and valued resource.

4

Trustees’ Report - About us

The Board of Trustees present their report for the financial statements for the year ended 31 March 2024.

Objectives:

The objective of OXSRAD is to provide and to assist in the provision of sport and leisure facilities for people with any disability by such means as the committee think fit including, but not to the exclusion of other means, their integration with those who are able bodied. The integration of disabled and able-bodied people is one of the fundamental aims of OXSRAD.

In order to fulfil this objective OXSRAD provides both sports equipment and classes run by staff and volunteers which are open to all at OXSRAD in Marston. Income is collected via membership fees, activity fees, and our community café income, as well as grants and donations from charitable trusts, organisations and individuals.

Our Vision:

To see a world where every disabled child, young person and adult can enjoy the same rights and opportunities as their non-disabled peers including access to fitness, social and rehabilitation activities .

Our mission:

To provide a space for everyone to have access to inclusive fitness and social activities that improve their physical and mental wellbeing.

Will you support us in 2025? Find out how to get involved: https://www.oxsrad.org/ways-to-get-involved

5

Our values:

Accessible: We ensure that all our services and facilities are open and available to everyone, fostering an environment where all individuals feel welcome and supported.

Inclusive: At OXSRAD, we embrace all abilities and provide opportunities for everyone to participate and thrive in our community.

Empowering: We encourage individuals to take control of their own health and well-being, providing resources and support to help them achieve their goals.

Responsive: Our team is committed to listening and adapting to the needs of our members, providing timely and effective solutions.

Trustworthy: We build strong relationships based on honesty and integrity, ensuring that our members can rely on us for support and guidance.

“A truly welcoming place, it has helped me feel that a disability isn’t anything to be ashamed of.”

OXSRAD consultation 2024

About us: Our services

1

Fitness classes

©

OXSRAD runs weekly fitness classes, including Spinning and Circuits. We are planning to introduce a new class called HIIT Bodyblast during the first quarter of 2025. These sessions are for our able-bodied members, led by OXSRAD staff, designed to challenge and encourage participants in a motivating, welcoming environment.

We also offer accessible, fun, and inclusive fitness classes for people with disabilities and learning difficulties. These sessions focus on movement, social connection, and enjoyment. An example of this type of class is our Movement to Music session, where participants with varying disabilities and difficulties, come together and dance for 1 hour every Tuesday.

Photograph: Circuits class - Monday evenings

7

Social Activities

2

Our social activities provide valuable opportunities for communication, and socialisation in a supportive, inclusive and safe environment.

These sessions are designed to foster creativity, build friendships, and encourage a sense of belonging. We also work with individuals during work experience sessions, providing them opportunities to communicate with clients and learn new skills.

Photograph: Easter basket making at Social Shed.

Fully inclusive, integrated gym

3

Our fully inclusive gym is equipped with adaptive equipment, allowing both able-bodied and disabled users to exercise side by side. We’re committed to creating a welcoming space where everyone can exercise together, regardless of ability or barriers they might face. Integration between disabled and able-bodied users is at the core of our mission, we believe in removing social barriers and fostering a sense of community.

4

Movement based therapy

OXSRAD has a proud history of providing Rebound Therapy, for individuals with a range of difficulties or disabilities. Some benefits include; strength of limbs, communication and selfconfidence. While our program is currently on pause, we are working hard to relaunch Rebound Therapy in Spring 2025.

OXSRAD also provides a community café for a range of groups and individuals to meet and engage with OXSRAD’s work. Our centre is also hired by specialists including The Physio Practice and AfreakA Ariels.

8

Understanding the challenge

The inequalities we must address.

1 in 5 have long-standing limiting disability or illness.

Physical inactivity increases as number of impairments increase.

51%

3 or more impairments

Disabled people are almost twice as likely to be physically inactive.

Disabled person 43%

No disability 23%

Statistics represent: likelihood of physical inactivity (S.E.A.L Survey 2021).

Area of Benefit:

Located in East Oxford, OXSRAD serves many disadvantaged communities, but our reach goes far beyond. As one of the only provisions of its kind, we attract individuals from across Oxfordshire, Buckinghamshire, Berkshire, and even Milton Keynes, highlighting the vital need for our unique services.

Responding to the challenge

In 2023-2024...

549 individuals supported 242 had a disability or long-term illness Of these 116 were adults/young people/children under 25.

Our Beneficiaries:

Each year OXSRAD works with between 500 to 750 children, young people, and adults. Around 50% have one or more of these impairments:

The other 50% of those we supported are able-bodied members who also use our facilities.

10

Our Facilities & Activities

OXSRAD is a unique sports and recreation centre. Our adaptive gym equipment sits alongside a sports hall, sensory room, spinning studio, dance studio, physio clinic rooms, and a café. Our beneficiaries can choose to use the facilities independently or join in with a wide range of classes and activities which OXSRAD and partner groups run.

We have expertise in health, wellbeing, disabilities, inclusion, rehabilitation and accessible sports.

In addition, we provide space for two valuable Physical Therapy groups. This includes: COPD Rehab group; and Pulmonary Rehab group.

Our Activities:

We offer a variety of accessible group activities, including:

Open-to-All Activities : Circuits, Zumba, Pilates, Spinning

Partner Activities: Taekwondo club, running club, aerial theatre school, triathlon club, and Neurophysio specialist classes.

Photograph: Oxsrad’s spinning studio

Key Outputs

----- Start of picture text -----
Number of Average Participants per
Session type Frequency
sessions Session
Boccia 80 2 per week 22 individuals
Wheelchair
5 Weekly 9 individuals
Football
Movement to
42 Weekly 33 individuals
music
Sensory Room 288 8 per week N/A
Individuals
1:1 (30 minute
Rebound 336 N/A
sessions)
therapy
Flying for
36 3 per week 4 individuals
disability
Social Shed 42 Weekly 22 individuals
COPD Rehab
40 Weekly 8 individuals
Sessions
Pulmonary
8 Ad hoc 12 individuals
Rehab
----- End of picture text -----*

*Wheelchair football was a new group established in partnership with Oxford City FC. Continuation during 24-25 is dependent on funding.

**Flying for disability is a new group, and has been expanding.

Other activities included Circuits, Yoga, Zumba, Pilates, and Spinning classes.

We also worked alongside 11 volunteers and began working with another local disability charity, Parasol.

Find out more about our services in 2025: Learn more here: - https://www.oxsrad.org/class schedule

12

Monitoring, Evaluation & Consultation

2) Reasons for visiting OXSRAD (%)

Monitoring and Evaluation:

We monitor and evaluate beneficiaries, by consulting with them informally, as well as using the more formal approach of online surveys. Survey questions help us discern the impact our services have on individuals health and wellbeing. We also ask about what works, and what needs improving. This information helps shape future projects. And, being able to prove – what we do works – will help us secure longer-term funding.

----- Start of picture text -----
100
86
80
73 74
67
60 62 62
58
40
20
0
To feel better about themselvesTo have funImprove physical healthImprove mental wellbeingMeet others/make friendsThe inclusive, non-judgmental environment.Feel part of a community
----- End of picture text -----

2024 Consultation Findings

Participation Overview:

126 individuals (23% of the total beneficiaries) responded to our online snapshot survey. This survey was conducted to better understand the frequency and reasons behind visits to OXSRAD, helping us align our services with the needs of our community:

Understanding OXSRAD’s Impact

1) Frequency of visits

By understanding the motivations behind why individuals choose OXSRAD, we can continue to enhance our services and cater to their diverse needs.

----- Start of picture text -----
Several times a week
26.1%
Once a week
34.8%
Twice a week
39.1%
----- End of picture text -----

This insight reinforces the critical importance of OXSRAD’s commitment to providing an inclusive and supportive environment that promotes overall wellbeing.

2024 consultation findings (continued)

3) Impairments:

We asked: Would you consider yourself to have..(any of these impairments)? This question was crucial in helping OXSRAD understand the range of needs within our community and identify how we can continue to foster an inclusive environment.

Of the 123 respondents to this question:

----- Start of picture text -----
0 20 40
Reported no impairments 52
Mental health condition 21
Learning disability 20
Long-term health condition 17
Physical disability 13
Mobility problems 11
Long-term chronic pain 7
Visual or hearing impairment 6 Percentage of Respondents (%)
----- End of picture text -----

NB: Many respondents indicated more than one impairment. By collecting this data, we gain insight into the diversity of challenges our members face, enabling us to design services and spaces that are accessible and supportive for everyone.

4) Barriers to Attendance:

Of the 117 individuals respondents to this question:

----- Start of picture text -----
7%
8%
22%
9%
10%
17%
14%
15%
----- End of picture text -----

Our Response - To address these barriers, OXSRAD will:

14

Data demonstrating impact

93%

91%

Of respondents agreed or strongly agreed that attending OXSRAD improved their physical wellbeing.

Of respondents agreed or strongly agreed that attending OXSRAD improved their mental wellbeing.

The impacts of OXSRAD, rooted in the data and quotes from our consultation underscore our essential role in enhancing physical health, mental wellbeing, and social inclusion for its members.

----- Start of picture text -----
70
70
60 61
50
40
30
20
10
0
% of people
----- End of picture text -----

Nationally, 61% of disabled people experience chronic loneliness, rising to 70% for young disabled individuals.* These figures highlight the need for inclusive spaces like OXSRAD, where fostering a community is at the heart of our mission.

In contrast to the national statistics on loneliness, 82% of respondents either ‘agreed’ or ‘strongly 82% agreed’ that attending OXSRAD had increased their sense of belonging.

*SENSE: https://www.sense.org.uk/media/latest-press-releases/loneliness-rises-dramatically-amongdisabled-people/

Trustees’ Report: 2024 Consultation Findings (continued)

Movement to Music, an inclusive dance class, every Tuesday at OXSRAD.

OXSRAD’s commitment to inclusivity, community, and improving physical and mental wellbeing remains steadfast.

The feedback gathered from our community will continue to guide our priorities and shape our future development.

Of respondents agreed or strongly agreed attending OXSRAD increased their confidence.

85%

Key quotes from respondents:

Staff Care Feedback:

124 individuals provided feedback:

----- Start of picture text -----
95% 96% 94%
Staff make them Staff are friendly Staff provide a high-
feel safe and supportive quality service
----- End of picture text -----

(rated “often” or “all the time”)

16

Service improvements suggested by respondents

Facilities:

  1. Improve toilets, showers, and changing rooms.

  2. Add gym equipment: ankle ties for the cable machine, assisted pull-up/dip machine, bench for back extensions, new pins for weight machines, and a water dispenser in the gym.

  3. Extend weekend opening hours.

Classes and Activities:

  1. Broader range of new classes: Wrestling, boxing, boxercise, aerobics, rock climbing.

  2. More Social activities: Evening pub-style games, disco, darts.

  3. Baby and child “stay and play” sessions.

Communications:

  1. Replace outdated signage and refresh noticeboards to promote activities.

  2. Collaborate with partner organisations to advertise OXSRAD’s facilities.

  3. Improve local community outreach and advertising.

Our response:

Photograph: OXSRAD Team member Kai, with Edna, at our social group for retirees, Poppins. Plus a furry visitor!

We asked: What is the best thing about OXSRAD? “I feel like “Great I belong.” parking!” “It includes everybody with all different types of disabilities.” “The social side “It’s an has made a amazing local real difference!” facility” “ Kind ” “I am very impressed by its “I feel safe and “You feel that mission and support is available able to go as I facilities.” to you should you am.” need it.” “The inclusivity of the centre is “Completely something that I’ve welcoming and always admired.”

“Completely welcoming and doesn't matter if you are really into “I come here as it fitness or a has the least complete novice.” barriers of any gym in Oxford!”

“Small and friendly”

“The fact it exists!”

The Environment

The Inclusivity

The Provision

18

Structure, governance and management

Organisation

The charity is established via the memorandum and articles of the company. Members of OXSRAD have the right to elect trustees/management committee members.

Oxford City Council also has the right to appoint one member. Councillor B.Coyne has represented Oxford City Council, since 29th June 2021. Councillor Louise Upton represents Old Marston Parish Council.

All new Trustees are recruited on the recommendation of organisations and people with whom OXSRAD works, or by existing Trustees; they are given an induction pack and offered appropriate training and advice about relevant Charity Commission publications in order to fulfil their role.

Risk management

All policies are reviewed regularly to ensure that they remain relevant and up to date. A quality assurance system and risk management framework are in place, together with policies covering all main areas.

The major risks identified remain essentially the same as in the previous year, namely:

Staff and volunteer training,

OXSRAD LTD is a charitable trust, with no associated charities or companies.

Public Benefit

The Trustees of the charity have had due regard both to the objectives of the charity, as set out above, and also to the guidance on public benefit published by the Charity Commission, in exercising their powers and duties.

supervision and support, as well as opportunities for volunteers and staff to give feedback, make complaints, or whistle blow, ensure that the

organisation is maximising its potential to reduce the identified risks.

Monitoring of the risks during the year has enabled OXSRAD to manage risks effectively and with good results.

Trustee and administrative information

Trustees

The Trustees/management committee members who have held office at any point during the year ended 31 March 2024 and to the date of this report are as follows:

Mr J Lane (Chairman) Ms N Farmer (Resigned 25 September 2023) Mrs C Hunt Mr M Jackman Ms J Fletcher Mr S Collins (Treasurer)

Charity Number

299630

Company Number

2267090

Registered Address

OXSRAD LTD, Court Place Farm, Marsh Lane, Oxford, OX30NQ

Independent Examiner

Peter J Stevenson Chartered Accountant 8 Harbord Road Oxford OX2 8LJ

Bank

CAF Bank Limited Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

20

Financial review

Funds

Restricted funds at 31 March 2024 were £231,112, after depreciation charges and a transfer to unrestricted funds of £1,643 (2023: £245,502). The balance relates to the Building Development fund, which will be released over the life of the assets that it relates to.

During the year the charity incurred a deficit before transfers of £11,908 (2023: £6,814) on its Unrestricted Funds, resulting in a balance carried forward on unrestricted funds of £2,531.

The Trustees continue to take all possible steps to boost the charity’s income and to keep overheads to a minimum; they are keeping plans and costs under constant review. None of the trustees is paid by OXSRAD. The company is supported through the voluntary assistance of a number of individuals.

Reserves

The trustees believe they have stabilised OXSRAD’s assets, ensuring they are available and adequate to fulfil the charity's obligations. The organisation aims to maintain Unrestricted Funds equal to at least three months’ turnover, which the trustees believe would be sufficient to cover any major loss of income or temporary outgoings not matched by income.

Strenuous efforts are being made to generate fresh fundraising income and rebuild reserves to achieve this goal.

Future Plans 24-25

Over the past few years, OXSRAD has undergone significant changes aimed at improving its services and ensuring long-term sustainability. While much has been achieved, there is still substantial work to be done.

21

Statement of Trustees’ Responsibilities

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

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006.

They are 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.

So far as the Trustees are aware:

Independent examination

Peter J Stevenson, Chartered Accountant, has again carried out the independent examination of the charity's accounts.

This report has been prepared in accordance with the Small Companies regime under the Companies Act 2006.

Approved by the Trustees on 24th December 2024 And signed by order of the board by

Mr J Lane (Chairman)

22

Independent Examiner’s Report to the Trustees of OXSRAD LTD

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024, which are set out on pages 23-32.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

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

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

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give ‘a true and fair view’ which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have noted the trustees’ statement in note 16 concerning the application of the going concern basis of accounting, and their reasons for it. I confirm that there are no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiner’s Statement

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

Peter J. Stevenson

24 December 2024

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

Chartered Accountant

8 Harbord Road, Oxford OX2 8LJ

Statement of financial activities for the year ended 31st March 2024

(including Income and Expenditure Account)

Restricted
Funds
Unrestricted
Funds
2023/24
Totals
Restricted
Funds
Unrestricted
Funds
2022/23
Totals
Notes
£
£
£
£
£
£
INCOME:
Grants and
donations:		 Restricted
Funds
Unrestricted
Funds
2023/24
Totals
Restricted
Funds
Unrestricted
Funds
2022/23
Totals
Notes
£
£
£
£
£
£
INCOME:
Grants and
donations:
Donations and gifts 0
36,506
36,506
0
70,066
70,066
Grants 0
0
0
2,063
13,336
15,399
Activities for generating
funds:
Fundraising 0
0
0
0
2,500
2,500
Trading income 0
26,104
26,104
0
31,465
31,465
Income from Charitable
Activities:
Sports Centre:
Membership 0
17,392
17,392
0
18,381
18,381
S iii 0
30448
30448
0
28590
28590
ports actvtes ,
,

,
,
Lettings income 0
46393
46393
0
29857
29857
,
,
,
,
Other income 0
0
0
0
305
0
TOTAL INCOME 156,843
0
156,843
2,063
194,500
196,563
EXPENDITURE:
Costs of generating
3		 0
16,206
16,206
0
26,601
26,601
funds
Expenditure on
charitable activities:
Sports Centre:
4		 12,747
152,545
165,292
14,810
174,713
183,523
TOTAL EXPENDITURE 168,751
12,747
181,498
14,810
201,314
216,124
NET MOVEMENT IN (12,747)
(11,908)
(24,655)
(12,747)
(6,814)
(19,561)
FUNDS
Transfer between funds (1,643)
1,643
0
(6,500)
6,500
0
Reconciliation of funds:
Total funds b/f at 1st 245,502
12,769
258,298
264,749
13,110
277,859
April 2023
Total funds c/f at 31st
March 2024		 2,531
231,112
233,643
245,502
12,796
258,298

Movements on reserves and all recognised gains and losses are shown above. All of the activities of the charity are continuing activities.

24

Balance Sheet as at 31 March 2024

Fixed asssets
NOTE		 £
2024		 2023
£
Investments
6		 538 538

Tangible assets
7		 231,112 243,859
Current assets 231,650 244,397
Stock
8		 500 1,000
Debtors
9		 6,750 10,887
Ch t bnk nd in hnd 4784 5113
as a a a a , ,
Liabilities 12,034 17,000
Creditors falling due within one year
10		 -10,041 -3,099
NET CURRENT ASSETS 1,993 13,901
Total assets less current liabilities 233,643 258,298
Creditors falling due within one year
11		 0 0
NET ASSETS 233,643 258,298
The funds of the charity
Restricted funds
13		 231112 245502

, ,
Unrestricted funds 2531 12796
, ,
233,643 258,298

Trustees' responsibilities

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records which comply with section 386 and for the preparation of accounts in accordance with section 393. These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Approved and authorised for issue by the Board on 24th December 2024 and signed on its behalf by:

Jason Lane Trustee

Sean Collins Trustee

Company registration number: 2267090 (England and Wales)

26

Notes to the financial statements for the year ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS

102), issued in October 2019, and with the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, and on the going concern basis for the reasons described in note 16.

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

a) Income

Income generally is recognised when the charity has entitlement to the funds, any performance conditions attached to the funds have been met, it is probable that the income will be received, and the amount can be measured reliably.

Capital grants are credited to the Statement of Financial Activities in the year when they are received and placed in a restricted fund where appropriate. Depreciation of the assets is charged against the relevant fund each year.

Credit is taken for donations and other income on the following basis:

b) Trading income

Trading income represents income for the bar and kitchen.

c) Expenditure

Expenditure is recognised in the accounts once a legal or constructive obligation arises to make payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. It is included on an accruals basis, together with irrecoverable VAT. All support costs are allocated to the sole charitable activity, as it is considered the charity cannot carry out its work without incurring these costs.

d) Depreciation

Assets of a capital nature are shown as fixed assets and depreciated over expected lives, as follows:

Equipment 20% straight line Building over the period of the lease (60 years from January 1989)

e) Stock

Stock is included in the accounts at the lower of cost and net realisable value.

f) Investments

Investments held as fixed assets are stated at market value at the balance sheet date.

g) Operating and finance leases

Rentals payable under operating leases are charged on a straight line basis over the term of the lease. Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the charity, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to expenditure over the period of the lease.

h) Restricted funds

The income funds of OXSRAD include restricted funds which comprise donations for specific purposes. Expenses relating to these specific funds are allocated as they occur.

i) Unrestricted funds

Unrestricted funds represent income from services, lettings, grants and donations, etc. All administration costs are paid from unrestricted funds unless specifically incurred on behalf of a restricted fund in which case they are charged to that account.

j) Pensions

Employees of the charity are entitled to join a defined contribution scheme. A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund, and the company has no legal or constructive obligation to pay further contributions, even if the fund does not hold sufficient assets to pay all employees the benefits relating to the employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an expense when they are due.

k) 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.

28 Notes the the financial statements (continued)

2. NET (EXPENDITURE)/INCOME FOR THE YEAR

The net (expenditure)/income is stated after charging:

2. NET (EXPENDITURE)/INCOME FOR THE YEAR
The net (expenditure)/income is stated after charging:
2024 2023
£ £
Operating leases - rent 1,400 1,400
Independent examiner’s fee
Depreciation		 500
12,747		 500
12,747

3. COSTS OF GENERATING FUNDS:

3. COSTS OF GENERATING FUNDS:
2024 2023
£ £
Costs of generating voluntary
income
Fundraising cost (proportion of salary)
Promotion costs		 0
262		 3,000
2,669
Fundraising trading: costs of goods sold
Trading costs 15,944 20,932
16,206 26,601

4. CHARITABLE ACTIVITIES - SPORTS CENTRE

Restricted Unrestricted 2024 2023
£ £ £ £
Sports and group - 1,170 1,170 2,197
activites
Depreciation 12,747 - 12,747 12,747
Building & equipment - 21,788 21,788 31,432
costs
Other running costs - 20,524 20,524 25,839
Staff costs (note 5) - 104,853 104,853 112,769
Legal & professional - 4,210 4,210 3,539
12,747 152,545 165,292 189,523

29

5. STAFF COSTS

5. STAFF COSTS
2023
£
£
2024
Wages and salaries 103,513
114,465
National Insurance costs 800
2,486
Other pension costs 540
978
Total, including fundraising salary cost 104,853
117,929

The average FTE number of employees was 6 (2023: 8).

No employee’s emoluments exceeded £60,000 (2023: NIL). No trustee received any remuneration or reimbursement of expenses in either year.

6. FIXED ASSET INVESTMENTS

2024 2023
£ £
Unquoted investments, at market value 538 538

7. TANGIBLE ASSETS

7. TANGIBLE ASSETS 7. TANGIBLE ASSETS
Equipment
Short Leasehold
Buildings
£
£
Cost
At 1 April 2023
Additions in year
550,129
-
310,396
9,808
135,965
131,839
2,939
-
550,129
135,965
At 31 March 2024
Depreciation
Change for year
At 1 April 2023
320,204
134,778
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
229,925
239,733
1,187
4,126		 Total
£
£
550,129
-
310,396
9,808
135,965
131,839
2,939
-
550,129
135,965
320,204
134,778
229,925
239,733
1,187
4,126		 £
686,094
442,235
12,747
-
686,094
454,982
231,112
243,859

30 Notes the the financial statements (continued)

8. STOCK

8. STOCK
2023
£
£
2024
Goods for resale 500
1000
9. DEBTORS 2023
£
£
2024
Rental debtors 750
0
Gift aid tax recoverable (estimated) 6,000
10,887
10. LIABILITIES: CREDITORS FALLING DUE WITHIN 6,750
10,887
ONE YEAR
2023
£
£
2024
HM Revenue and Customs and Nest 1,055
1,719
Trade creditors 4,086
880
Other creditors and accruals 4,900
500
10,041
3,099

11. LIABILITIES: CREDITORS FALLING DUE AFTER ONE YEAR

11. LIABILITIES: CREDITORS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
0 0

12. LEASE COMMITMENTS

OXSRAD is committed to a 60 year lease commencing 27 January 1989 on which rent payments are to be made to Oxford City Council. At 31 March 2024 the company was committed to make the following payments for the remaining term under the operating lease, subject to 10-yearly reviews and agreement of terms:

£
2024		 2023
£
Rent payments at £1,400 for 24.75 years
 34,650 36,050
( 2023 - 25.75 years)

13. RESTRICTED FUNDS

13. RESTRICTED FUNDS 13. RESTRICTED FUNDS
Balance at
1 April 2023
£
Building/Development
Fund
Refurbishment/equipment
245,502
245,502
-		 Balance at 31
March 2024
Expenditure
and transfers
Income
£
245,502
245,502
-		 £
£
£
-
(9,808)
235,694
0
(4,582)
(4,582)
0
(14,390)
231,112

The Building/Development Fund represents monies received in the past to fund the leasehold building. This is being reduced by depreciation over the life of the asset. The negative balance on refurbishment/equipment represents residual depreciation amounts on equipment.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total
£ £ £
Tangible assets - 231,112 231,112
Fixed asset investments 538 - 538
- - -
Current assets 12,034 - 12,034
Current liabilities (10,041) - (10,041)
2,531 231,112 233,643

15. SHARE CAPITAL

OXSRAD Ltd is a company limited by guarantee and as such does not have any issued share capital. In the event of a winding-up, the trustees/members of the management committee are each required to contribute £1.

16. GOING CONCERN

Although the unrestricted fund balance was only £2,531 at the year-end, the charity has secured via fundraising significant additional grant and donation income since the yearend.

32 Notes the the financial statements (continued)

In cash terms the charity also has the benefit of the interest-free loan of £4,500, with no fixed date of repayment, from one of its trustees (see note 17 below).It has set a budget for 2024/25 and beyond, showing at least a modest surplus continuing on unrestricted funds.

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future.

The Trustees are taking action to safeguard the long-term reserves and future direction of the charity. Under all the scenarios reviewed, the trustees believe that the charity has sufficient reserves to enable it to continue as a going concern for at least 12 months from the date of signing their report. For this reason it continues to adopt the going concern basis in preparing the financial statements.

17. RELATED PARTY TRANSACTIONS

During 2023/24 the charity was in receipt of an interest-free loan of £4,500 with no fixed date ofrepayment from Sean Collins, who is one of the trustees of the charity (2023 £NIL).

“Without OXSRAD, I wouldn’t be able to move my legs, it’s as simple as that.”

OXSRAD LTD

OXSRAD, Court Place Farm, Marsh Lane, Oxford, OX30NQ

+44 1865 741336 www.oxsrad.org info@oxsrad.org

© 2024 OXSRAD Ltd

OXSRAD Limited is registered in England and Wales as a

charity no. 299630 and a company limited by guarantee no. 2267090

Our mission is to provide a space where everyone has access to inclusive fitness and social activities that improve their physical and mental wellbeing.