## TRUSTEES REPORT 2023 “Plus, Ca Change” The more things change the more they stay the same!! Although the outward appearance changes the fundamentals are constant. 2023 brought significant movement in the life of The Ostreme Community Association. Ostreme, a charitable community hub offering local people and those from further a field the opportunity to become involved in amateur dramatics, more physical activities, understanding art and indulging in local history to name but a few groups and societies was in June 2023 taken over by the good people of The Mumbles Community Council. Discussions had been ongoing for a while but after agreement was reached MCC took over the reins of formal responsibility of Ostreme thereby ending an era which many will miss but was absolutely without doubt the best way forward in order to continue to enjoy a local community Centre right in the heart of our wonderful village. After the major roof works in 2019, then the Pandemic in 2020 a “knight in shining amour” was essential to rescue the Centre and this duly arrived. Thank you, Mumbles Community Council. Of course, there will be political discussion, but we are satisfied that the team currently responsible for Ostreme have its best interests at heart. To that end we were able to view plans for Ostreme 2 in October 2023. Fascinating and forward thinking and ideas that in their own way, will in principle transform the Centre to reflect a modern 21[st] century state-of-the-art facility. I said “things stay the same” well in many ways they have. On a day-to-day basis we are encouraged by the continued calls and enquiries for reservations for Main Hall and Art Room regular enquiries for times and days available via our outstanding Centre Manager Elaine Wright (more of which in a second) and constant footfall. As the year 2023 ends we are optimistic of a vibrant future. The signs are good. We are all moving in the right direction. Financially our accounts show we are improving back to pre-2019 levels and demand is increasing. The future looks bright. So, there is room for a charity community Centre. I would like to place on record my heartfelt thanks to Elaine Wright, the heart and soul of Ostreme. Its improvement and longevity are so much down to her diligent hard work, proactive positive approach and her excellent interpersonal skills. She is the port of call to so many and handles all questions and issues with equal measure. So personally, and professionally thank you Elaine. Outstanding. I would also like to extend my appreciation to Mrs. Christine Discombe our now outgoing chairman of many years standing has been the backbone of Ostreme a model of community spirit who’s volunteer work for Ostreme should not be underestimated. Thank you, Christine. We look forward to 2024 and beyond with much enthusiasm. OSTREME COMMUNITY ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NUMBER 502984 OSTREME CENTRE NE￿ON ROAD MUMBLES SWANSEA SA3 4BA OSTREME COMMUNITY ASSOCIATION TRUSTEES ANNUAL REPORT OF THE OSTREME COMMUNITY ASSOCIATION FOR THE FINANCIAL YEAR ENDING ON 31 DECEMBER 2023 CHARITY The Ostreme Community Association is registered under the Charities Act 1960 The registration number is 502984 The registered office and principle Pla￿ of business is The Ostreme Centre Newton Road Mumbles Swansea SA3 4BA TRUSTEES The Trustees during the whole of the period were Mr D. Morris Mr G Wayt The Management Committee comprised of the following during the whole of the year (part of the year) President {Mrs G Thompson) (Mrs C Discombe) Chair {Mrs C Discombe) (Mr A Smtth) Vice Chair (Vacant Position) Treasurer (Vacant Position) Centre Manager Mrs E Wright Committee Members: (Mr A Smith), Mrs M Colburn, Church Representative ( ) Mumbles Community Council representative ( ), Chairs of Sections: (Mr J Harrison) (Mr S Cross) Mrs L Turner Mr P Llewellyn Objectives of the charity The objects of the Ostreme Community Association are: (a) to promote for the benefit of the inhabitants of the neighbourhood in a common effort to advance education and to provide facilities for the recreation and leisure time occupations with the object of improving the conditions of life for the said inhabitants to establish or to secure the establishment of a community centre and maintain and manage such a centre for the activities promoted by the association in furtherance of the objectives of the Charity. (b) Activities The main activity is to maintain and manage the community centre for the benefit of its members and the local community. Results for the year The detailed financial statements for the year are as shown on the following pages but are summarised below. This shows that there was a deficit for the year of (£3,698), Cash reserve at 1Jt Jan 2023 £33,368 (Loss)ISurplus for year (£3,698) Cash reserve at 31st Dec 2023 £29,670 Accruals The accounts are compiled on a receipts and payments basis. They do not include income du expenditure incurred in 2023 but not received or id for until Signature of Trustee DatedZs*h J hji 2024 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS I report on the accounts of the Ostreme Community Association for the year ended 31 December 2023, which are set out on pages 06 to 09. Respective responsibilities of trustees and examiner The charity's trusteeslmembers are responsible for the preparation of the accounts. The charity's trusteeslmembers consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 43 of the 1993 Act; to follow the prO￿dureS laid down in the general Directions given by the Charity Commission under section 43{7)(b) of the 1993 Act; and to state whether particular matters have come to my attention. Basis of Independent examiner's report My examination was carried out in accordan￿ with the General Directions by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with the records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as members and trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit and consequently no opinion is given as to whether the accounts present 'a true and fair view" and the report is limited to those matters set out in the statement below. Independent Examiners Report In connection with my examination, no matter has come to my attention which (1) gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 act have not been met", or (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: L Richmond Relevant professional qualifications or body: Association of Accounting Technicians Address: 96 Saunders Way, Skety, Swansea. Date: rflth J4fvJL 2024 Signature: OSTREME COMMUNITY ASSOCIATION RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDED 31 DECEMBER 2023 2022 Total RECEIPTS Hall Sections Admin Totsl Fund raising 904 Receipts from tradinq activities 28,908 2,684 31,592 47,833 Grants 2,000 Section Transfers by gift Other income (incl. membership fees) 1,028 40 1,068 985 Totsl Revenue Recelpts 29,936 2,724 32,660 51,722 PAYMENTS Payments for direct charitable purposes 32,583 3,775 36,358 50,197 Section Transfers by gift Total Payments 32,583 3,775 36,358 50.197 Net Receipts Surplus (Deficits) (2,647) (1,051) {3,698) 1,525 Reserves at 1 January 26,095 23,448 7,273 33,368 31,843 33,368 Reserves at 31 December 6,222 29,670 OSTREME COMMUNITY ASSOCIATION STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2023 2023 2022 FIXED ASSETS Per notes 9,393 13,293 CAPITAL RESERVES 9.393 13,293 CURRENT ASSETS Ha51 Current account Deposit account Cash 22,864 504 80 25,501 502 92 Sections Current account Deposit account Cash 2,857 3,333 32 3,948 3,293 32 29.670 33,368 ACCUMULATED FUNDS HALL 26,095 SECTIONS TOTAL 2022 7,273 33,368 31.843 Balance at 1st Jan Surplus (deficits) (2,647) (1,051) (3,698) 1,525 Balance at 318t Dec 23,448 6,222 29,670 33.368 Approved by trustees signed date OSTREME COMMUNITY ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 ACCOUNTING POLICIES (a) Basis of Accounting The financial statements have been prepared on the historical cost basis of accounting. Income and expenditure have been taken into account on a cash basis, and no provision has been made for accruals or prepayments but are shown in the note on page 3 the accounts. Expenditure items have been stated inclusive of VAT. Depreciation has not been charged to the receipts and payments accounts but is shown as a memorandum item in the statement of fixed assets. (b) Fixed Assets Leasehold Land and buildings are stated in the Balance Sheet at Cost less depreciation. (c) Depreciation As the accounts are kept on a receipts and payments basis there is no direct depreciation charge to the revenue accounts. However a table of fixed assets is included in the accounts. A detailed inventory of property (excluding land) under the ownership of the Association was carried out in 2010 and an asset register compiled. The rep1a￿rnent costs of the assets was estimated to be £74,448 and a current market value of £7,400. The 2010 accounts used both these figures as opening balances and the assets will be depreciated at 10% of the net value each year using the declining balance method. All purchases and disposals are assumed to take place half way through the year. 2. FIXED ASSETS Freehold land Fixtures & fittin cost TOTAL Valuation at 1 Jan 2023 Additions Disposals 6,315 81,993 88,308 (3,399) (3,399) at 31Dec 2023 6,315 78,594 84,909 reciation at 1 Jan 2023 Depreciation at 31 Dec 2023 75,015 501 75,516 75,015 501 75.516 Net book Value at 1 Jan 2023 at 31 Dec 2023 6,315 6,315 6,978 3,078 13,293 9,393 3. Payments for direct charitable purposes Included in the above expenditure heading is the employees cost of the Administrator and Caretaker of the Community Hall. 2023 15,627 2022 30,578 Gross wages including national insurance The average number of employees is 2, both part time. INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS I report on the accounts of the Ostreme Community Association for the year ended 31 December 2023, which are set out on pages 06 to 09. Respective responsibilities of trustees and examiner The charity's trusteeslmembers are responsible for the preparation of the accounts. The charity's trusteeslmembers consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 43 of the 1993 Act", to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act. and to state whether particular matters have come to my attention. Basis of Independent examinerfs report My examination was carried out in accordan￿ with the General Directions by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with the records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as members and trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit and consequently no opinion is given as to whether the accounts present "a true and fair view" and the report is limited to those matters set out in the statement below. Independent Examiners Report In connection with my examination, no matter has come to my attention which (1) gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordan￿ with section 41 of the 1993 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 act have not been met; or (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: L Richmond Relevant professional qualifications or body: Association of Accounting Technicians Address: 96 Saunders Way, Skety, Swansea. Date: fflth J4fvJ& 2024 Signature: IM--4.