The Trustees (who are also directors of the Company for the purposes of the Companies Act) present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Company's Memorandum of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The Company trades as Oasis Christian Bookshop.
a. Policies and objectives
The Company was formed to obtain charitable status and acquire the charitable activities of Wallington Christian Outreach, itself a registered charity. Charitable status was granted on 17 July 1996 and it acquired the charitable activities, assets and liabilities with effect from 1 September 1997 when it commenced trading as The Oasis Christian Centre.
b. Activities for achieving objectives
The principal way in which the work is carried out is by means of a Christian Bookshop operating at 39 Woodcote Road and now known as Oasis Christian Bookshop. Since May 2023 Dave Lock has been managing the bookshop, assisted by a team of volunteers.
The work of the bookshop is overseen by the Trustees, who meet regularly. Also, they all have hands-on experience, working in volunteer roles within the bookshop at least once or twice a week. They bring a wealth of relevant experience, e.g. accountancy and business, to their tasks, for which no further formal training is required. Should formal training be required in the future, this will be arranged.
Public benefit
In planning the activities of the Company, the Trustees have considered the Charity Commission's guidance on public benefit and, particularly, the specific guidance on charities for the advancement of religion.
The shop is open to the public and this, in our view, means that it is for the benefit of the public as required by charity law.
Review of activities
Sales for the year were maintained at 2024 levels, achieved not only through our bookshop, but also via book signings within the shop and off-site pop-ups. During the year, we have also commenced E-commerce sales, which have shown promise as a viable income stream, attracting interest from potential customers not just in our immediate vicinity but also across the UK. We have been extremely fortunate in being able to call on the expertise of Nicholas Hill, a business development consultant, to help us set up our E-commerce website and guide us through the necessary protocols.
Nicholas’s assistance and expertise have proved invaluable, not only for E-sales but also with the transition from Merlio to Shopify, the latter vital for E-commerce traffic. We have also taken the step of transitioning from Sage accounting software to Xero. In both cases, the move to more up-to-date software has improved efficiency and customer interaction, affords us enhanced sales analysis and financial reporting and, at the same time, has reduced our costs. We are also continuing in our quest to encourage more local churches to place orders through us rather than sourcing online. Apart from books we carry stocks of Christian hardware, cards and gifts. These are good revenue earners and appeal to both Christians and non-Christians alike.
During the year, we commenced a re-branding exercise to promote both our bookshop and online presence. As a consequence, the Trustees decided to replace our aging and damaged shop signage and alter the name to Oasis Christian Bookshop, to mirror our E-commerce website. The cost of the new signage amounted to £5,900, with £5,700 being donated by our lovely local churches and supporters, mainly via Crowdfunding, for which we thank the Lord for his provision. Fitting of the signage took place in September 2025. Damage to our shop window necessitates replacement, which will be financed by a claim on our shop insurance.
Staffing of the shop remains challenging from time to time and we will always welcome new volunteers. Dave Lock has continued in his role as manager with guidance and support from the Trustees.
The lease came to an end in May 2014 and the Trustees have been holding over since that time. Various discussions with the landlords have taken place over the intervening period, with nothing having been agreed. However, we are pleased to be able to report that, in March 2026, we agreed terms with the landlords for a new five-year lease at favourable rates, which will accord us the comfort and encouragement of security of tenure for the next few years.
The Trustees number just three at the present time and are cognisant of the need to seek additional Trustees amongst the local Christian community. With the new lease in place, we feel that we will prove to be a more attractive proposition to potential candidates.
Considering the maintenance of the level of turnover at 2024 levels, coupled with our drive to increase online sales and reduce costs, these financial statements have been prepared on a going concern basis as, in the opinion of the Trustees, there are no material uncertainties about the Company’s ability to continue for the foreseeable future, being 15 months from the date of signing these financial statements.
Fundraising activities
During the year, the company raised very nearly £5,700 towards the cost of the new shopfront and signage via the Crowdfunding fundraising platform and donations from individual supporters and local churches.
During the financial year, despite turnover remaining at 2024 levels, the Company made a loss of £20,998, (2024: Profit £6,038), which is largely due to expenditure on consultancy/technical assistance relating to E-commerce and transition of stock/accounting systems. The Company’s stock has decreased considerably by £14,169. This is due to very old stock included in Merlio being excluded from the transfer over to Shopify plus a full stock check being made to ensure accurate stock was entered onto the new system. The Company will be seeking increased sales over the Christmas period which should result in a decrease in stock levels and an increase in cash.
Reserves policy
The Company held unrestricted reserves of £73,503 in 2025 (2024: £99,874). The reserves included stock of £63,560 in 2025 (2024: £77,729).
The Trustees ensure that the Company retains unrestricted funds to meet at least four months' running expenditure: (2025 £15,500; 2024 £15,500).
The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Company’s current activities whilst consideration is given to ways in which additional funding may be raised. This level of reserves has been maintained throughout the year.
The Company plans to continue to operate in its existing markets whilst exploring the possibility of Ecommerce.
Constitution
The Company is a charitable company limited by guarantee, incorporated on 7 September 1994. The Company is constituted under a Memorandum of Association dated 7 September 1994 and is a registered charity, number 1056875.
The principal object of the Company is to provide opportunities for outreach through the operation of a Christian bookshop known as The Oasis at 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
New trustees are elected by the existing Trustees. One third of the Trustees retire from office at each Annual General Meeting and if they choose to offer themselves for re-election are deemed to have been re-elected unless there is any express resolution otherwise.
None of the Trustees has any beneficial interest in the company. The Memorandum and Articles of Association restrict the liability of the Trustees on a winding-up of £1 each. In the event of a winding-up, accumulated funds shall be transferred to one or more charitable institutions with similar objects.
The trustees meet regularly and administer the charity by majority decision.
Key management remuneration
The remuneration of the key management is shown in Note 11 to the financial statements.
The Trustees have a duty to identify and review the risks to which the Company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure.
The Trustees' report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Wallington Christian Outreach Limited (the Company) for the year ended 31 August 2025.
Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the Company as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Wallington Christian Outreach Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
The financial statements have been prepared in accordance with the Company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Company is a Public Benefit Entity as defined by FRS 102.
The Company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The cost of raising and administering such funds are charged against the specific fund. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Income is recognised when the Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to projects. Gifts donated for resale are included as income when they are sold. Donated facilities and services are included at the value to the company where this can be quantified and a third party is bearing the cost. No income is recognised where there is no financial cost borne by a third party or where the value cannot be determined with reasonable accuracy. No amounts are included in the financial statements for services donated by general volunteers.
Income from other trading activities relates to the sale of books and other goods, exclusive of value added tax and any discounts.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost less provision for impairment. A provision for impairment of debtors is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debt. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
The charitable company is exempt from corporation tax on its charitable activities.
Payments to defined contribution retirement benefit schemes are charged in the period to which they relate.
In the application of the Company’s accounting policies, the Trustees might be required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Governance costs includes £1160+VAT paid to the independent examiner for accounts preparation and independent examination (2024: £1125+VAT).
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
In June 2025 the stock holding system for the shop was changed from Merlio to Shopify. This change was driven by the move to start eCommerce sales in order to add another stream of income to the business. Very old stock that was included in Merlio was not transferred to Shopify and a thorough stock check was made to ensure the correct count of items was entered in Shopify. The result of this exercise was a considerable reduction in stock value.
The Company operates a defined contribution pension scheme for all qualifying employees.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Customer Loyalty Cards
Customer loyalty cards have been issued which entitle customers to redeem £5 off their next purchase once they have been completed. The company does not know at any time how many of these cards will be presented for redemption and therefore they will be accounted for when redeemed.
There were no disclosable related party transactions during the year (2024 - none).