REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OASIS CHURCH COLLIERS WOOD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OASIS CHURCH COLLIERS WOOD |
OASIS CHURCH COLLIERS WOOD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Strategic Report | 1 | to | 3 |
Report of the Trustees | 4 | to | 5 |
Report of the Independent Auditors | 6 | to | 9 |
Statement of Financial Activities | 10 |
Balance Sheet | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 | to | 23 |
OASIS CHURCH COLLIERS WOOD |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees present their strategic report for the year ended 31 December 2023. |
The Directors present their strategic report and financial statements of Oasis Church Colliers Wood (Registered Company Number 07877036 and Registered Charity Number 1147040) for the period ended 31st December 2023. |
Directors Responsibilities and Functions: |
The Directors listed on Page 1 are the signatories to this Report. The method of appointing and discharging Directors is that the current Directors have the power to appoint additional Directors or to discharge existing Directors, but there are overall requirements that the number of Directors is not less than three nor more than seven and that Directors are required to be members of Oasis Church, Colliers Wood. |
The Directors are responsible for preparing the strategic report, the annual report and financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. |
The Directors have no retained professional legal advisers; their bankers are National Westminster Bank plc of 16 Wimbledon Hill Road, Wimbledon SW19. Dzifa Ayidah remained as Treasurer. Duncan Moass serves as Company Secretary. The auditors are GBJ LLP, Sterling House, 27 Hatchlands Road, Redhill, Surrey RH1 6RW. |
The Directors have quarterly meetings during which they examine the financial reports and activities as well as look at their other governance obligations. |
Aims and Objectives: |
Oasis Church Colliers Wood operates as a local Church in the Colliers Wood area of southwest London. Whilst it is independently constituted it is affiliated to the London Baptist Association and Evangelical Alliance. |
Activities: |
The activities of the Church are the usual ones which could be expected of an evangelical Church, being Sunday worship services, a range of weekly meetings at the Church (for Church members and serving the wider Church body), meetings of Church members in homes, evangelistic outreaches, etc. |
During 2023 services on Sundays and Wednesdays continued to be streamed live and cell groups continue to meet in person, on Zoom or a mixture of the two. Cell groups, Healing Rooms, Bible study, Pastors and Leaders meetings, youth work, children's work, the Oasis Leadership School (OLS), staff meetings and over 60s tea parties are all examples of activities that have been happening regularly during 2023. |
A community café was started in March 2023 and continues to welcome anyone from the local community every Thursday. One off events included an open Picnic in the Park, the Coronation community Barbeque, a 'Joy to the World' Christmas community event and a 24-hour worship service, which was held in December 2023. Baptismal services took place on three occasions during the year. Four church 'Family Nights' were held during the year and 30 new members were welcomed in 2023. These meetings are for all members to attend and be involved through voting in the work and activities of the church. The new building has been fully utilised with a prayer room open on weekdays. Business meetings have continued on Zoom for convenience. |
The church hosted an international annual conference on behalf of Harvest Alliance (a network of like-minded churches) 2-4 October which was attended by numerous visitors and speakers from the UK and overseas. |
OASIS CHURCH COLLIERS WOOD |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Apart from at the main centre in Colliers Wood, three church plants have continued at Epsom (at the Longmead Centre, Sefton Road), in Walton-on-Thames (at Walton Youth Centre, Elm Grove, Walton on Thames) and in Redhill, (at Salfords Primary School, Copsleigh Avenue). The Asian Fellowship has continued to meet at the main centre in Colliers Wood. A document summarising the governance arrangements and an SOP for the main church and plants was developed in early 2024. |
During the year, Directors continued to ensure that the Company complied with the requirements of GDPR and data protection. |
The Church had 467 core members and over 500 others associating with the Church as at 31st December 2023. |
Leadership: The leadership structure of the Church is that there is a full-time pastor (Sam Onyenuforo), three part-time pastors who serve at our plants in Epsom, Walton and the Asian Fellowship at Colliers Wood, and staff fulfilling various ministry and administrative roles; along with the pastors, there are unpaid elders with shared overall responsibility for the Church and others holding responsibility for the Church work. |
Finance |
The primary source of the income is derived from donations and legacies given by Church members. The church's income has been maintained during the year with a slight increase over budget projections. The church received a transfer of funds from its associated manse property trust in the sum of £70,000 as part of responsible management of that trust, reflecting amassed rental income. |
Cashflow remains stable and improves month on month. |
The Company has various designated and restricted funds, listed in the accounts, including a "Jubilee Fund" that receives and distributes 10% of the Church income and other specific gifts. This Jubilee fund is administered by a minimum of three members. This is overseen by the Directors and was set up for the advancement of the Christian faith, and/or as an expression of Christian love. These gifts continue to be given. |
The directors remain satisfied that the church's financial position remains secure. |
Risk Register |
The Directors have reviewed the risks to which the Company may be exposed and continue to keep the risk register updated on a regular basis. The Company also has a Health and Safety Policy and a Safeguarding Policy, which are also reviewed on a regular basis. |
Reserves Policy |
The Directors have developed a reserves policy which is reviewed every year. It is anticipated that any surplus income, at the close of the year, would be carried forward during the following year while retaining sufficient funds to meet the charity's stated or planned commitments. |
The Directors aim to have reserves amounting to not less than GBP 200,000 on an ongoing basis. |
Disclosure of Information to Independent Examiner: |
In the case of each of the persons who are Directors of the Company at the date when this report was approved - so far as each of the Directors is aware, there is no relevant audit information (as defined in the Companies Act 2006) of which the company's independent examiner are unaware; and - each of the Directors have taken all the steps that he/she ought to have taken as a director to make himself/herself aware of any relevant information and to establish that the independent examiner is aware of that information. |
OASIS CHURCH COLLIERS WOOD |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
This confirmation is given and should be interpreted in accordance with the provisions of S418 of the Companies Act 2006. |
Approved by order of the board of trustees on 10 September 2024 and signed on its behalf by: |
OASIS CHURCH COLLIERS WOOD (REGISTERED NUMBER: 07877036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Auditors |
Statutory Auditor |
Sterling House |
27 Hatchlands Road |
Redhill |
Surrey |
RH1 6RW |
Bankers |
NatWest Bank PLC |
16 Wimbledon Hill Road |
Wimbledon |
London |
SW19 7ZD |
OASIS CHURCH COLLIERS WOOD (REGISTERED NUMBER: 07877036) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Oasis Church Colliers Wood for the purposes of company law) 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 trustees 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 those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, GBJ LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
OASIS CHURCH COLLIERS WOOD |
Opinion |
We have audited the financial statements of Oasis Church Colliers Wood (the 'charitable company') for the year ended 31 December 2023 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). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
OASIS CHURCH COLLIERS WOOD |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
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 Strategic Report and 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: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
OASIS CHURCH COLLIERS WOOD |
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. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We enquired of management concerning the Company's policies and procedures relating to: |
- the identification, evaluation and compliance with laws and regulations; |
- the detection and response to the risks of fraud; and |
- the establishment of internal controls to mitigate risks related to fraud or non-compliance with laws and regulations. |
The Company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if non-compliance were to occur; United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006, tax legislation, anti-bribery legislation, GDPR and employment law. |
We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by evaluating management's incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to: |
- income recognition |
- authorisation of purchases and correct use of restricted funds |
- potential management bias in determining accounting estimates |
It is the audit partner's assessment that the audit team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
OASIS CHURCH COLLIERS WOOD |
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. |
for and on behalf of |
Statutory Auditor |
27 Hatchlands Road |
Redhill |
Surrey |
RH1 6RW |
OASIS CHURCH COLLIERS WOOD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Missions, outreach and evangelism | 63,768 | - | 63,768 | 15,229 |
Social care | 59,998 | 31,482 | 91,480 | 65,919 |
Total |
NET INCOME |
Transfers between funds | 18 | (68,000 | ) | 68,000 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 3,584,319 |
OASIS CHURCH COLLIERS WOOD (REGISTERED NUMBER: 07877036) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
CURRENT ASSETS |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 16 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 18 |
Unrestricted funds | 1,381,507 |
Restricted funds | 2,202,812 |
TOTAL FUNDS | 3,584,319 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
OASIS CHURCH COLLIERS WOOD |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 135,977 | 166,178 |
Interest paid | (7,306 | ) | (5,899 | ) |
Finance costs paid | (2,253 | ) | (1,951 | ) |
Net cash provided by operating activities | 126,418 | 158,328 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (31,048 | ) | (99,609 | ) |
Net cash used in investing activities | (31,048 | ) | (99,609 | ) |
Cash flows from financing activities |
Loan repayments in year | (31,896 | ) | (38,451 | ) |
Net cash used in financing activities | (31,896 | ) | (38,451 | ) |
Change in cash and cash equivalents in the reporting period |
63,474 |
20,268 |
Cash and cash equivalents at the beginning of the reporting period |
479,846 |
459,578 |
Cash and cash equivalents at the end of the reporting period |
543,320 |
479,846 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
88,132 |
61,409 |
Adjustments for: |
Depreciation charges | 75,675 | 76,975 |
Interest paid | 7,306 | 5,899 |
Finance costs | 2,253 | 1,951 |
(Increase)/decrease in debtors | (37,171 | ) | 19,567 |
(Decrease)/increase in creditors | (218 | ) | 377 |
Net cash provided by operations | 135,977 | 166,178 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 479,846 | 63,474 | 543,320 |
479,846 | 63,474 | 543,320 |
Debt |
Debts falling due within 1 year | (31,668 | ) | 6,663 | (25,005 | ) |
Debts falling due after 1 year | (127,818 | ) | 25,236 | (102,582 | ) |
(159,486 | ) | 31,899 | (127,587 | ) |
Total | 320,360 | 95,373 | 415,733 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Gift aid |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Conferences, bookstall & sundry |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Bank interest received | 4,858 | 588 |
5. | RAISING FUNDS |
Raising donations and legacies |
2023 | 2022 |
£ | £ |
Staff costs |
Rates and water |
Insurance |
Light and heat |
Telephone |
Postage and stationery |
Church running costs | 2,418 | 3,023 |
Youth and childrens' work | 7,064 | 11,210 |
Publicity and advertising | 2,042 | 148 |
Office expenditure | 13,473 | 18,501 |
Property maintenance | 83,334 | 58,168 |
Music and worship | 9,675 | 11,266 |
Social and recreational | 29,496 | 32,804 |
Ministerial and pulpit fees | 27,898 | 21,039 |
Training and volunteers | 2,341 | 1,366 |
Tithe to Jubilee | 46,795 | 40,000 |
Depreciation |
Interest payable and similar charges |
Support costs |
765,788 | 641,023 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities |
(see note |
7) |
£ |
Missions, outreach and evangelism | 63,768 |
Social care | 91,480 |
155,248 |
7. | GRANTS PAYABLE |
2023 | 2022 |
£ | £ |
Missions, outreach and evangelism | 63,768 | 15,229 |
Social care | 91,480 | 65,919 |
155,248 | 81,148 |
8. | SUPPORT COSTS |
Governance |
costs |
£ |
Raising donations and legacies | 10,116 |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Raising |
donations |
and | Total |
legacies | activities |
£ | £ |
Auditors' remuneration | 8,441 | 8,220 |
Legal and professional fees | 1,675 | 1,883 |
10,116 | 10,103 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Auditors' remuneration | 8,441 | 8,220 |
Depreciation - owned assets |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
11. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
399,382 | 314,672 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Employees |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
2023 | 2022 |
£60,001 - £70,000 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Missions, outreach and evangelism | 13,199 | 2,030 | 15,229 |
Social care | 65,919 | - | 65,919 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (145,949 | ) | 145,949 | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,403,621 | 2,119,289 |
TOTAL FUNDS CARRIED FORWARD | 1,381,507 | 2,202,812 | 3,584,319 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The freehold property is held in trust for Oasis Church Colliers Wood by the London Baptist Property Board Limited, and acts as security for the loans from the London Baptist Property Board Limited. |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Gift aid due |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 17) |
Social security and other taxes |
Other creditors |
Accrued expenses |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 17) | 127,818 |
17. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 25,005 | 31,668 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans | 42,582 | 57,513 |
18. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,381,507 | 60,659 | (68,000 | ) | 1,374,166 |
Restricted funds |
Building Fund | 1,414,031 | (43,759 | ) | 68,000 | 1,438,272 |
Building Development Fund | 532,856 | (12,729 | ) | - | 520,127 |
Initiatives | 523 | 89,848 | - | 90,371 |
Conferences/Towards Revival Fund | 8,046 | - | - | 8,046 |
Healing Rooms | 3,064 | (1 | ) | - | 3,063 |
Other Specified Gifts | 5 | - | - | 5 |
Church Extension (Land and Building) | 244,287 | (5,886 | ) | - | 238,401 |
27,473 |
TOTAL FUNDS | 88,132 | 3,672,451 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
18. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 887,829 | (827,170 | ) | 60,659 |
Restricted funds |
Building Fund | - | (43,759 | ) | (43,759 | ) |
Building Development Fund | - | (12,729 | ) | (12,729 | ) |
Initiatives | 121,339 | (31,491 | ) | 89,848 |
Healing Rooms | - | (1 | ) | (1 | ) |
Church Extension (Land and Building) | - | (5,886 | ) | (5,886 | ) |
( |
) | 27,473 |
TOTAL FUNDS | ( |
) | 88,132 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,403,621 | 123,835 | (145,949 | ) | 1,381,507 |
Restricted funds |
Building Fund | 1,311,694 | (41,912 | ) | 144,249 | 1,414,031 |
Building Development Fund | 545,585 | (12,729 | ) | - | 532,856 |
Initiatives | 719 | (1,896 | ) | 1,700 | 523 |
Conferences/Towards Revival Fund | 8,046 | - | - | 8,046 |
Healing Rooms | 3,066 | (2 | ) | - | 3,064 |
Other Specified Gifts | 5 | - | - | 5 |
Church Extension (Land and Building) | 250,174 | (5,887 | ) | - | 244,287 |
2,119,289 | (62,426 | ) | 145,949 | 2,202,812 |
TOTAL FUNDS | 3,522,910 | 61,409 | - | 3,584,319 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
18. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 783,437 | (659,602 | ) | 123,835 |
Restricted funds |
Building Fund | - | (41,912 | ) | (41,912 | ) |
Building Development Fund | - | (12,729 | ) | (12,729 | ) |
Initiatives | 143 | (2,039 | ) | (1,896 | ) |
Healing Rooms | - | (2 | ) | (2 | ) |
Church Extension (Land and Building) | - | (5,887 | ) | (5,887 | ) |
143 | (62,569 | ) | (62,426 | ) |
TOTAL FUNDS | 783,580 | (722,171 | ) | 61,409 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,403,621 | 184,494 | (213,949 | ) | 1,374,166 |
Restricted funds |
Building Fund | 1,311,694 | (85,671 | ) | 212,249 | 1,438,272 |
Building Development Fund | 545,585 | (25,458 | ) | - | 520,127 |
Initiatives | 719 | 87,952 | 1,700 | 90,371 |
Conferences/Towards Revival Fund | 8,046 | - | - | 8,046 |
Healing Rooms | 3,066 | (3 | ) | - | 3,063 |
Other Specified Gifts | 5 | - | - | 5 |
Church Extension (Land and Building) | 250,174 | (11,773 | ) | - | 238,401 |
2,119,289 | (34,953 | ) | 213,949 | 2,298,285 |
TOTAL FUNDS | 3,522,910 | 149,541 | - | 3,672,451 |
OASIS CHURCH COLLIERS WOOD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
18. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,671,266 | (1,486,772 | ) | 184,494 |
Restricted funds |
Building Fund | - | (85,671 | ) | (85,671 | ) |
Building Development Fund | - | (25,458 | ) | (25,458 | ) |
Initiatives | 121,482 | (33,530 | ) | 87,952 |
Healing Rooms | - | (3 | ) | (3 | ) |
Church Extension (Land and Building) | - | (11,773 | ) | (11,773 | ) |
121,482 | (156,435 | ) | (34,953 | ) |
TOTAL FUNDS | 1,792,748 | (1,643,207 | ) | 149,541 |
Included in Restricted Funds are: Building Funds, which are for the Church building and the Initiative Fund for Church Initiated projects. Other specified gifts are short-term funds comprising individuals' gifts for specific purposes. |
19. | RELATED PARTY DISCLOSURES |
During the year, a salary of £20,709 (2022: £19,722) and pension contributions of £1,035 (2022: £986) were paid on behalf of K Clements, the wife of Trustee Mr T Clements. |