CHARITY REGISTRATION NUMBER: 304343 North Oxford Association Unaudited Financial Statements 31 March 2025
North Oxford Association Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
North Oxford Association Trustees. Annual Report Year ended 31 March 2025 The trustees. present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and admlnlstratlve detalls Registered charlty name North Oxford Association Charity registration number 304343 Principal offic8 Diamond Place Summertown Oxford OX2 7DP The trustees Mrs J Field Mrs S Van Noorden Mrs M Sh8nnon Mr M Heaton Mrs P Eyton Mrs A Taylor Ms S Levet8 Mr A Holman Mr C Fletcher-campbell (Retired 26 June 2024) Independent examlner N J Cadwallader FCCA For and On Behalf of David Cadwallader & Co Limited Suite 3 Bign811 Park Barns Chesterton Bicester Oxon OX26 1TD
North Oxford Association Trustees. Annual Report (Gontlrtuedj Year ended 31 March 2025 Structure, governance and management The North Uxford Association constltutlon was originally adoplgd uii the 23 October 1969. A revised constitution was adopted on 19 November 2015. The Association is a registered charity and has been in oporation sinc8 23 October 1969. The Memorandum and Articles of Association govern the aclivities of the association and its managem8nt is the responsibility of the Trust8es. The selection of Trustees is designed lo supplement the exisling skills and expertise of the Board and is governed by an informal skills assessment. Appointment of Truste8s is made in accordance with the Articles of Association. Trustees are Irained in their dulles informally and inducted by their fellow Board in the duties and responsibilities of a Trustee. Rlsk Assessment The Trustees of North Oxford Association recognise and accept their responsibility for ensuring that risks to which the charity is exposed are reviewed and steps taken to mitigate potential damage by the use of approprlate preventative controls and corrective actions. They are aware of the Charities SORP 15sued in 2005 and accept the requirement, in relation lo all aspec15 of their work, for regular assessment of operating strengths and weaknesses. To this end the risk management strategy comprises an annual review of the risks which the charity may face; the establishment of systems and procedures lo mitigate those risks identified., and the implementation of procedures designed to minimise any potential impacl on the charity should any of those risks malerialise. Objectlves and activities Through its work North Oxford Association aims to achieve the following: 1. To promote the benefit of the inhabitants of Oxford City in the area north of The Martyrs, Memorial without distinction of race, sex or of political, religious or other opinions by associating the local aulhorilies, volLsnlary organisations and inhabilanls in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation wilh the object of improving the conditions of life for Ihe said inhabitants. 2. To establish or secure the establishment of premises for the beneflt of the communlly. We have r8f8rred to the guidance contained In the Charlty Commission's general guidance on publSc benefit when reviewing our aims and objectives and in planning our future aclivilies. Achievements and performance During the year the charity continued lo operate in line wilh its charitable objectives. Details of the incoming resources are given in Notes 2-5 of the accounts. Financial review The Charity's trading results are shown on page 5. In 2024-25, profit was £6,221. This shows that the recovery from the Covid period has continued and the Iruslees expect the financial position to continue to be satisfactory provided the level of hiring is maintained.
North Oxford Association Trustees. Annual Report (contlnu•dJ Year ended 31 March 2025 Plans for future periods The Association has no plans at this time to substantially alter ils actlvities. The truslees, annual report was approved on 17 September 2025 and signed on behalf of the board of Iruslees by-. Mrs M Shannon Trustee Chair
North Oxford Association Independent Examiner's Report to the Trustees Year ended 31 March 2025 I report to the partners on my examination of thè financial statements of North Oxford Association ('the charily'l for the year ended 31 March 2025. Responsibilities and basis of report A5 the partners of thp. r,harily you are responsible for th8 preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examinalion of the charity's financial statements Garried oul under section 145 ol the 2011 Act and in carrying out my 8xamination I have followed all the applicable Directions given by the Charity Commission under section 145(51(bl of the Act. Independent examlner's statement I have completed my examlnation. I confirm that no material matters have coma to my attention in connection with the examination giving me cause to believe that in any malarial respect.. accounting r8cords were not kept in respect of the charlly as required by s8Ction 130 of Iha Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitles (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is nol a matter considered as parl of an independent examination, I have no concerns and have come across no other matters in connection wilh the examination to which allenlion should b8 drawn in this report in order lo enable a proper understanding of the accounts to be reached. N J Cadwallader FCCA Independent Examiner For and On Behalf of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Bicesler Oxon OX26 1 TD
North Oxford Association Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Donations and legacias Charitable activities Investment income Oth8r income (88) 76,697 1,940 (88) 76,697 1,940 1,498 81,076 1,970 6,902 Total Income 78,549 78,549 91,446 Expendltur• Expenditur8 on charitable activi118S Total expenditure 72,328 72,328 82,229 72,328 72,328 82,229 Net Income and net movement In funds 6,221 6,221 9.217 Raconclllatlon of funds Total funds brought forward Total funds carried forward 54,909 61,130 2,625 57,534 63,755 48.317 2,625 57,534 The slalement of financial activities includes all gains and losses reco9nised in the year. All income and expenditure derive from conlinulng activities. The notes on pages 7 to 14 form part of these financlal statements.
North Oxford Association Statement of Financial Position 31 March 2025 2025 2024 Noto Fixed assets Taiigible fixed a5se15 14 151 362 Current assets Stocks Debtors Cash at bank and in hand 15 16 75 9,280 66,153 276 10,573 58,278 75,508 69,127 Credltors: amounts falling due wlthln one year Net current assets 17 11,904 11,955 63,604 57,172 Total assets less current liabllltles 63,755 57,534 Net assets 63,755 57,534 Funds of the charlty Restrlcted funds Unr8Stricted funds 2,625 61,130 2,625 54,909 Total charlty funds 19 63,755 57,534 These financial statements were approved by the board of trustees and authorised for issue on 17 September 2025, and are signed on behalf of the board by.. Mrs M Shannon Trustee Chair The notes on pages 7 to 14 fomi part of theso flnan¢lal stateménts.
North Oxford Association Notes to the Financlal Statements Year ended 31 March 2025 General Informatlon The charity is a publiG benefit entity and a registered charity in England and Wales and is unincorporated. The address of th8 principal office is Diamond Place, Summertown, Oxford. OX2 7DP. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Stalemenl of Recommended Practice applicable to charities preparing Iheir accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng pollcles Basis of preparatlon The financial statements have beén prepared on the historical cost b8sls, as modified by th8 revaluation of cert8ln flnancial assets and Ilabillties and investment propertles messured al fair value through income or 8xpenditur8. The financial slalemenls are pr8pared in sterling, which is the function81 currency of the enlity. Going concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements reouires management lo make judgemenls, estimates and assumptions that affecl the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other faclors. including expeclalions of future events Ihal are believed lo be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the harity's purposes. Designated funds are unreslricted fund5 earmarked by the partners for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall inlo one of two sub-classes- restricted income funds or endowment funds. Incoming resources All income is included in the statement of financial activities when enlillement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can bo reliably measured. The followillg specific policies are applied to particular categories of income.. income from donalions or grants 15 recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
North Oxford Association Notes to the Financial Statements {contlnuod) Year ended 31 March 2025 Accounting pollcies (conllnu6dJ Incomlng resources Iconllnued) legacy income is recognised when receipt is probabla and entitlemant Is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and servicas are recognised in the accounls when received if th8 value can b8 reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the d81ivery of the contracted service. Where the supply is provlded over a period of tSme, the income is recognised over the period to which the contract relates. This is classified as unreslricled funds unless Ihere is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resource8 expended Expenditure Is recognised on an accruals basis as a liability is Incurred. Exp8nditure includes any VAT which cannot be fully recovered, and is classified under headings of the slalement of financial activitios to which it relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, evenls, non-charilable trading aclivilles. and the sale of donated goods. expendilure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure Ihal is neither related lo raising funds for Ihe charity nor part of Its expenditure on charitable activities. All costs are allocated to expendilure categorSes reflecting the use of the resource. Direcl cos15 altributable to a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and conslstenl basis. Tanglble assets Tangible assets are inllially r8corded at cost, and subsequently staled at CDSI less any accumulated depreciation and impairment losses. Any tangible a5sels carried at revalued amounts are recorded at the fair value al the date of revaluation less any subseqvenl accumulated deprpciation and subsequent accumulated impairment losses. An increase in the carrying amounl of an a5sel as a result of a revalualion, is recognised in other reGognised gains and losses, unless It reverses a charge for impairment that has previously been recogni5ed as expenditure within Ihe slalement of financial activities. A decrease in the Garrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo whiGh it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activlties.
North Oxford Association Notes to the Financial Statements (continued) Year ended 31 March 2025 Accountlng polieles (continued) Depreciation Depreciation is calculaled so as lo write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment 20 % straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such Indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting d8t8. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an individual ass81, an estimate is made of the recoverable amount of Ihe cash-generating unit to which th8 assel belongs, The cash-generating unit is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of th8 cash in*lows from other assets or groups of assels. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of Ihe charily are assigned to those units. StoGks Stocks are measured al the lower of cost and estlmated selling price less costs lo complete and sell. Cost includes all cosls of purchase, costs of conversion and other costs incurred in bringing the stock lo its present location and condition. Financial Inslruments A fSnancial asset or a financlal liability is recognised only when the charity becomes a party lo the contractual provisions of the inslrumenl. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequenlly measured al the cash or other consideration expected lo be paid or raceived and nol discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their fair value can othetwise be measured reliably, the investment is subsequently measured al fair value with changes in fair value recognised in income and expenditure. All olher such investments are subsequently measured at cost less impairment, Olher financial inslruments, including derivatives. are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of inleresl that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
North Oxford Association Notes to Ihe Financial Statements (continuod) Year ended 31 March 2025 Accounting pol icies (¢antlnuod) Flnanclal Instruments fcontlnu•d) other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Flnancial assets that are measured at cost or amortised cost are reviawed for objective evidence of impairment at the end of each reporting date. If there is objoctive evidence of impairment, an impairment loss is recognised under the appropriate he8ding in the statament of financial activities in which tha initial gain was recognised. For all equity Instruments regardless of slgnificance, and other financial assets that are individually significant, these are assessad individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, lo the extent that the reversal does not r8sult in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognis8d. Defined contrlbution plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related service Is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead lo a reduclion in future paymanls or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basls. The unwinding of the discount is recognised as an expense in Ihe period in which il arises. Donatlons and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donatlons External donations Internal donation5 (954) 866 (954) 866 638 860 638 860 1881 (881 1,498 1,498 Charitable actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Hire of facilities Membership fees Coffeè shop income Classes 72,190 476 1,445 2,586 72,190 476 1,445 2,586 76,160 565 1,362 2,989 76,160 565 1,362 2,989 76,697 76,697 81,076 81.076
North Oxford Association Notes to the Financial Statements (conllnued) Year ended 31 March 2025 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank intarest r8ceivabla 1,940 1,940 1,970 1,970 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Council energy contribution 6,902 6,902 Expendlture on Charllable actlvltles by fund type Unr8strlcted Total Funds Unrestrlcted Total Funds Funds 2025 Funds 2024 General Actlvitles Coffee bar Courses Support costs 66,746 1,185 2,900 1,497 66,746 1,185 2,900 1,497 72,849 4,847 2,938 1,595 72,849 4,847 2,938 1,595 72,328 72,328 82,229 82,229 Expenditure on charitable activitie5 by activlty type Activities undertaken directly Support Total funds costs 2025 Total fund 2024 General Activi15es Coffee bar Courses Governance costs 66,746 1,185 2,900 66,746 1,185 2,900 1,497 72,328 72,849 4,847 2,938 1,595 1,497 70,831 1,497 82,229 10. N•t incom• Net income is stated after chargingl(crediting}: 2025 2024 Depreciation of tangible fixed assets 388 837 11. Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,014 990
North Oxford Association Notes to the Financial Statements (contlnued) Year ended 31 March 2025 12. Staff Costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Employer contributions to pension plans 37,393 736 36,336 683 38,129 37,019 The average head count of employees durlng th8 year was 2 (2024: 21. The average number of full-lime equivalent employees during the y8ar Is analysed as follows.. 2025 2024 No. No. Number of staff No employee recelved employee beneflts of more than £60,000 during the year12024'. Nill. 13. Trustee remuneratlon and expenses No remuneration or olhar benefils from employment wlth the charity or a related enlSty were received by the trustees 14. Tanglble fixed assets Equipment Total Cost Al 1 April 2024 Additions 16,394 177 16,394 177 At 31 March 2025 16,571 16,571 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 16,032 388 16,032 388 16,420 16,420 Carrying amount At 31 March 2025 151 151 At 31 March 2024 362 362 15. Stocks 2025 2024 Raw materials and consumables 75 276
North Oxford Association Notes to the Financial Statements (conllnu8d) Year ended 31 March 2025 16. Debtors 2025 2024 Trade debtors Other debtors 9,131 149 10,400 173 9,280 10.573 17. Creditors: amounts falllng due within one year 2025 2024 Accruals and deferred income Other cr8ditors 5,228 6,676 4,745 7,210 11,904 11,955 18. Penslons and other post retlrement beneflts Deflned contribution plan8 The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £736 {2024- £683). 19. Analysls of charitable funds Unrestricted funds At 31 March 20 25 Al 1 April 2024 Income Expenditure General Fund 54.909 78,549 (72,3281 61,130 Al 31 March 20 24 At 1 April 2023 Income ExpendSlure General Fund 45,692 91.446 (82,2291 54,909 Restricted funds At 31 March 20 25 At 1 April 2024 Income Expenditure NOA Holiday Fund 2,625 2,625 Al 31 March 20 24 At 1 April 2023 Income Expenditure NOA Holiday Fund 2,625 2.625
North Oxford Association Notes to the Financial Statements (contlnuod) Year ended 31 March 2025 20. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangibl& fixed assets Current assets Creditors less than 1 year Net assets 151 72.883 {11,9041 61,130 151 75,508 (11,904) 63,755 2,625 2,625 Unrestrlcted Funds Rostricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Nat assets 362 66,502 111,955) 54,909 362 69,127 111,955) 57,534 2,625 2,625