OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Charity registration number 1019626

Company registration number 02757764 (England and Wales)

OASIS CHILDREN'S VENTURE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

OASIS CHILDREN'S VENTURE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees and directors Mr Timothy Bowker Ms Catherine Atkin Ms Henrietta Boxer Mr Peter McNally Mr Andrew Sawdon Ms Katharyn White Secretary and trustee Mr Simon Pring Charity number 1019626 Company number 02757764 Registered office 33 Priory Grove London SW8 2PD Auditor BGM Helmores Limited 114a Cromwell Road Kensington London SW7 4AG

OASIS CHILDREN'S VENTURE

CONTENTS

Page
Trustees' report 1 - 4
Independent auditor's report 5 - 7
Statement of financial activities 8 - 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 24

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The Trustees who are Directors for Company Law purposes, submit their annual report and the financial statements of Oasis Children's Venture (Oasisplay) for the year ended 31 March 2022.

Structure, Governance and Management

Oasisplay operates from three sites in Stockwell and one site in Kennington, London Borough of Lambeth. In Stockwell we have Oasisplay Nature Garden, Oasisplay Adventure Playground Stockwell and Oasisplay Kart Track. Our new site is Oasisplay Adventure Playground at Bolton Crescent which we took on in July 2021 and opened in January 2022. All sites and services are fully inclusive and support the needs of both disabled and non disabled children and young people.

Oasis Children's Venture is a company limited by guarantee governed by its Memorandum and Articles of Association dated 1st April 1992. It is registered as a charity with the Charity Commission.

Trustees are elected at each Annual General Meeting and hold office only until the next following Annual General Meeting. Trustees are required to retire from office at each AGM, but are eligible for re-election.

The Trustees, who are also the directors for the purpose of company law and who served during the year are listed on the Legal and Administrative information page to these accounts.

New Trustees have an induction meeting with the Charity's Trustees to brief them on the business plan, current programme and financial performance of the charity. During the induction they meet key staff members and have the opportunity to observe various aspects of the charity's work.

New Trustees are also invited to an induction meeting where they have the opportunity to discuss any issues with the rest of the trustees.

The Trustees are encouraged to attend appropriate training events that will facilitate the undertaking of their role.

Objectives and activities

In planning, reviewing and undertaking the activities of the Charity for the year, the Trustees have taken account of the Charity Commission's guidance on public benefit.

The Objects of the Charity for the public benefit are:

In carrying out its provision of services and employment, Oasis adheres strictly to equal opportunities for all, irrespective of religion, race, disability or sexuality.

Oasis adopts a sustainable environment policy by bringing greenery to the city, through the transformation of derelict land, and through the creation and management of its three sites. Its aims at all projects are to provide and adapt facilities for all sections of the community through contributing to the regeneration of the green and built environment. It helps children to learn about nature and ecology in their city surroundings.

It aims to promote the understanding of the countryside and protect the existing animals and plants at its sites.

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance Oasisplay - 'transforming lives through play'

Oasisplay provides innovative and inclusive outdoor play and learning opportunities that enable disabled and nondisabled children and young people to lead happy, fulfilled lives and play positive roles in the community.

The following values underpin the delivery of all services for children and young people.

During the year all Oasisplay activities continued to be impacted by the COVID pandemic.

At the beginning of 2021 all services were closed in lockdown. By April 2021 a restricted service started up and the number of children we could support was very limited.

At this point the focus was on supporting the most vulnerable children and families; families with disabled children and those children who were at risk as a result of their individual circumstances.

As the year progressed and restrictions were lifted we were able to return to a normal service.

The legacy of the pandemic was that it was very challenging time to recruit to our new appointments and also our income generating activities had been completely undermined.

2021 was a huge year for Oasisplay as we mobilised the new contract to deliver services at Bolton Crescent Adventure Playground in Kennington. The contract was finally signed in July 2021 and we started bringing the playground back to life.

The service was able to get started with our first young people joining in January 2022. The service continues to grow as we increase our team of playworkers.

In order to manage an additional site, the management team grew with the addition of a Short Breaks Manager, a Family Support Manager and a Head of Access and Support. With this increase in capacity in the management team we could confidently move forward with plans for all projects.

During the year over 700 individual members took part in free open access play services at our four unique sites. A further 750 children and young people have visited over the year with their families, schools or as part of private group bookings.

All our services are fully inclusive and disabled children and young people are supported to take part in all Oasisplay has to offer. Our services include:

Nature Garden - forest school, environmental education, food growing and cooking for children, young people schools and the whole community.

Adventure Playground Stockwell - free play and volunteering opportunities for our diverse community

Karting Project - life skills, mechanic skills, volunteering, mentoring and driving for disadvantaged young people

Inclusion Project - supporting disabled children and young people to participate in all that Oasis has to offer

Volunteering Project - volunteering opportunities for NEET young people and the wider community.

Active Together - Free service for families encouraging children and parents to get 'active together'.

Adventure Playground Bolton Crescent - free play and volunteering opportunities for our diverse community

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

At the Nature Garden the under 5s environmental play sessions continue to be very popular.

Forest School Foragers group encourages children and families to forage for edible plants in the garden.

Schools and nurseries continue to make regular visits to the garden.

Weekly school visits are made by Allen Edwards Primary School, Larkhall Primary School and Michael Tippett School and College (for disabled young people and those with complex needs).

The Nature Garden is open four days per week after school for free play, and open on Saturdays for the whole community.

The Adventure Playground continues to offer a year round service for local children and young people. Free play in a stimulating and challenging outdoor environment is an opportunity for children to learn about the world about them, make friends and develop new skills and interests and aspirations.

The Right Track Project continues to be supported by Children in Need with further funding support from the Young Londoners Fund. As a result, we can continue to develop the mentoring and volunteering programmes for young people.

The Right Track Project works closely with over 120 young people at risk of being NEET and/or involvement in gang related activity every year. Young people learn kart mechanics and marshalling as well as having the opportunity to drive and make new friends in a positive and stimulating environment.

Financial review

Income from charitable activities was £477,156 (2021 - £97,122). Other sources of funding amount to £Nil of restricted funds and £11,717 of unrestricted funds.

The main funders included The National Lottery Community Fund, London Borough of Lambeth, Sport England, Henry Smith's Charity, Young Londoners Fund, City Bridge Trust, BBC Children in Need and the Heritage Lottery Fund.

Total revenue expenditure for the year was £1,054,770 (2021 - £825,182).

Closing reserves at 31 March 2022 were £334,246 of unrestricted funds and £12,849 restricted funds. The unrestricted funds comprised a fixed asset fund of £143,531, and general funds of £190,715.

The trustees have reviewed the budget for the next 12 months and consider the charity has adequate resources to continue for the foreseeable future.

The trustees aim to build an unrestricted reserve equivalent to three month's salary costs, budgeted at approximately £137,100 for 2022/23. At 31 March 2022, the unrestricted reserve for the future operation of the Charity was £190,715 (2021 - £168,924).

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of trustees' responsibilities

The trustees, who are also the directors of Oasis Children's Venture for the purpose of company law, are responsible for preparing the Trustees' Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

BGM Helmores Limited were appointed as auditor to the company and a resolution proposing that they be reappointed will be put at a General Meeting.

Public Benefit Statement

The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. The public benefit of the Charity's activities are outlined under 'Objectives and Activities' above.

Preparation of the Report

The report of the Trustees has been prepared taking advantage of the small companies exemption under Section 415A of the Companies Act 2006.

Thetrustees' report was approved by the Trustees.

Mr Simon Pring

Secretary

25 January 2023

OASIS CHILDREN'S VENTURE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF OASIS CHILDREN'S VENTURE

Opinion

We have audited the financial statements of Oasis Children's Venture (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 charity’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

OASIS CHILDREN'S VENTURE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OASIS CHILDREN'S VENTURE

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor's report 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which our procedures are capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

OASIS CHILDREN'S VENTURE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OASIS CHILDREN'S VENTURE

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

The comparative financial statements for the year ended 31 March 2021 are unaudited.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Davis (Senior Statutory Auditor) for and on behalf of BGM Helmores Limited

Chartered Accountants

Statutory Auditor

114a Cromwell Road Kensington London SW7 4AG 30 January 2023

BGM Helmores Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

OASIS CHILDREN'S VENTURE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
195,343
375,218
Charitable activities
4
320,660
156,496
Other income
5
11,717
-
Total income
527,720
531,714
Expenditure on:
Raising funds
6
24,480
-
Charitable activities
Year ended 31 March
7
26,683
1,003,607
Total charitable expenditure
26,683
1,003,607
Total expenditure
51,163
1,003,607
Net incoming/(outgoing) resources before transfers
476,557
(471,893)
Gross transfers between funds
(478,504)
478,504
Net (expenditure)/income for the year/
Net movement in funds
(1,947)
6,611
Fund balances at 1 April 2021
336,193
6,238
Fund balances at 31 March 2022
334,246
12,849		 Total
Total
2022
2021
Unaudited
£
£
570,561
635,205
477,156
97,122
11,717
113,841
1,059,434
846,168
24,480
15,480
1,030,290
809,702
1,030,290
809,702
1,054,770
825,182
4,664
20,986
-
-
4,664
20,986
342,431
321,445
347,095
342,431		 Total
Total
2022
2021
Unaudited
£
£
570,561
635,205
477,156
97,122
11,717
113,841
1,059,434
846,168
24,480
15,480
1,030,290
809,702
1,030,290
809,702
1,054,770
825,182
4,664
20,986
-
-
4,664
20,986
342,431
321,445
347,095
342,431
846,168
15,480
809,702
809,702
825,182
20,986
-
20,986
321,445
342,431

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

OASIS CHILDREN'S VENTURE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year - unaudited
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
195,299
439,906
Charitable activities
4
97,122
-
Other income
5
3,118
110,723
Total income
295,539
550,629
Expenditure on:
Raising funds
6
15,480
-
Charitable activities
Year ended 31 March
7
60,456
749,246
Total charitable expenditure
60,456
749,246
Total expenditure
75,936
749,246
Net incoming/(outgoing) resources before transfers
219,603
(198,617)
Gross transfers between funds
(204,855)
204,855
Net (expenditure)/income for the year/
Net movement in funds
14,748
6,238
Fund balances at 1 April 2020
321,445
-
Fund balances at 31 March 2021
336,193
6,238		 Total
2021
£
635,205
97,122
113,841
846,168
15,480
809,702
809,702
825,182
20,986
-
20,986
321,445
342,431

OASIS CHILDREN'S VENTURE

BALANCE SHEET

AS AT 31 MARCH 2022

2022
Notes
£
Fixed assets
Tangible assets
12
Current assets
Debtors
13
166,209
Cash at bank and in hand
154,808
321,017
Creditors: amounts falling due within
one year
14
(117,453)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds		 2021
Unaudited
£
£
143,531
69,285
216,337
285,622
(110,460)
203,564
347,095
12,849
334,246
347,095		 £
167,269
175,162
342,431
6,238
336,193
342,431

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 25 January 2023

Mr Timothy Bowker Trustee

Ms Catherine Atkin Trustee

Company registration number 02757764

OASIS CHILDREN'S VENTURE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

2022
Notes
£
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
24
Net cash used in investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
£
(61,529)
-
-
(61,529)
216,337
154,808		 £
103,859
-
-
103,859
112,478
216,337

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Oasis Children's Venture is a private company limited by guarantee incorporated in England and Wales. The registered office is 33 Priory Grove, London, SW8 2PD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity'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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. 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.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity 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 charity 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.

1.5 Expenditure

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.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

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:

Play structures 10 years
Football pitch 10 years
Adventure Playground building 10 years
Walter Segal building 20 years
High Dependency Unit 10 years
Minbus 4 years

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.

1.7 Impairment of fixed assets

At each reporting end date, the charity 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).

1.8 Cash and cash equivalents

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.

1.9 Financial instruments

The charity 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 charity's balance sheet when the charity 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

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial liabilities

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Oasis Children's Venture’s accounting policies, the trustees are 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.

Grant income receivable

The charity receives grant income which cover a specific duration of time. Such grants are therefore spread over the time to which the grant has been allocated and funds utilised. Accordingly part of these grants may be deferred at the financial year end.

Allocation of support costs

The trustees have used judgement when allocating support and direct costs to its charitable activities based on specifically allocable costs and, in respect to salaries, on a time spent estimation basis.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
195,343
375,218
Donations and gifts
Sport England - Active
Together
-
104,459
The National Lottery -
Reaching Communities -
Inclusion
-
77,441
Henry Smith's Charity
-
19,100
Young Londoners Fund -
Karting
-
28,389
The National Lottery -
Reaching Communities -
APG
-
48,561
City Bridge Trust
-
31,164
BBC Children In Need
-
8,719
Heritage Lottery Fund
-
13,020
London Community
Response (CBT)
-
21,564
William Wates Memorial
Trust
-
-
Children in Need - Girls
Space
-
Awards for All - Karting
10,000
Various grants
12,801
London Borough of
Lambeth/Young Lambeth
Co-op
69,444
-
London Community
Response (TNLCF)
-
-
Walcot Foundation
24,686
-
Charlie Chaplin Fund
30,667
-
Lambeth HAF - Summer
29,969
-
Garfield Weston
3,333
-
Blenheim Forage
17,299
-
Donations
14,820
-
Just Giving Donations
-
-
Access to work
4,225
-
UK Online Giving
Foundation
-
-
Other
900
-
195,343
375,218		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
570,561
195,299
439,906
104,459
-
98,020
77,441
-
72,878
19,100
-
54,800
28,389
-
49,295
48,561
-
45,372
31,164
-
35,408
8,719
-
34,717
13,020
-
13,020
21,564
-
21,564
-
-
8,984
-
-
2,498
10,000
-
-
12,801
-
3,350
69,444
82,308
-
-
61,766
-
24,686
24,602
-
30,667
-
-
29,969
-
-
3,333
16,667
-
17,299
-
14,820
7,378
-
-
1,085
-
4,225
975
-
468
900
50
-
570,561
195,299
439,906		 Total
2021
£
635,205
98,020
72,878
54,800
49,295
45,372
35,408
34,717
13,020
21,564
8,984
2,498
-
3,350
82,308
61,766
24,602
-
-
16,667
-
7,378
1,085
975
468
50
635,205

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Year ended Year ended
31 March 31 March
2022 2021
£ £
Bookings and membership income 477,156 97,122
Analysis by fund
Unrestricted funds 320,660 97,122
Restricted funds 156,496 -
477,156 97,122

Under Section 37 of the Government and Housing Act, the Charity is required to report specifically on grants from London Councils. The note above shows the details of income received from the London Borough of Lambeth. All grants received from the London Borough of Lambeth had been fully spent by the year end. The funds were spent on providing play services.

5 Other income

Unrestricted Unrestricted Restricted Total
funds funds funds
2022 2021 2021 2021
£ £ £ £
Other income 11,717 3,118 110,723 113,841

6 Raising funds

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising and publicity
Fundraising consultants 24,480 15,480
24,480 15,480

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities

Year ended Year ended
31 March 31 March
2022 2021
£ £
Share of support costs (see note 9) 1,020,540 809,702
Share of governance costs (see note 9) 9,750 -
1,030,290 809,702
Analysis by fund
Unrestricted funds 26,683 60,456
Restricted funds 1,003,607 749,246
1,030,290 809,702

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Charitable activities

Unrestricted Restricted 31.3.2022 31.3.2021
funds funds Total Total
£ £ £ £
CHARITABLE ACTIVITIES
KartingProject - 163,703 163,703 137,694
Nature Garden - 185,056 185,056 150,678
Adventure Playground - 125,604 125,604 164,007
Inclusion Project - 272,453 272,453 205,085
Active Together Project - 113,144 113,144 91,782
Bolton Crescent - 143,647 143,647 -
General Funds - Central Administration 26,683 - 26,683 60,456
26,683 1,003,607 1,030,290 809,702
For theyear ended 31 March 2021 60,456 749,246 809,702
Direct Allocate 31.3.2022 31.3.2021
Costs Support Total Total
Costs
£ £ £ £
Restricted Funds
Charitable activities - allocation of central costs
KartingProject 138,305 25,398 163,703 137,694
Nature Garden 151,191 33,865 185,056 150,678
Adventure Playground 66,341 59,263 125,604 164,007
Inclusion Project 272,453 - 272,453 205,085
Active Together Project 104,678 8,466 113,144 91,782
Bolton Crescent 118,249 25,398 143,647 -
General Funds - Central Administration 179,073 (152,390) 26,683 60,456
1,030,290 - 1,030,290 809,702

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

9 Support costs

Staff costs
Depreciation
Insurance (excluding
minibus)
Recruitment costs
Telephone
Water
Postage and Stationary
Project running costs
Minibus
Light and heat
Independent Examiner's
remuneration
Death in service
Employment
Compensation
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
740,791
-
23,738
-
17,575
-
5,184
-
3,432
-
956
-
3,532
-
212,662
-
1,076
-
11,594
-
-
-
-
-
-
-
-
9,750
1,020,540
9,750
1,020,540
9,750		 2022
£
740,791
23,738
17,575
5,184
3,432
956
3,532
212,662
1,076
11,594
-
-
-
9,750
1,030,290
1,030,290		 Support
costs
Governance
costs
£
£
603,741
-
23,738
-
12,847
-
689
-
2,644
-
2,286
-
928
-
107,988
-
1,734
-
6,107
-
6,000
-
6,000
-
35,000
-
-
-
809,702
-
809,702
-		 2021
£
603,741
23,738
12,847
689
2,644
2,286
928
107,988
1,734
6,107
6,000
6,000
35,000
-
809,702
809,702

Governance costs includes payments to the auditors of £9,750 (2021- £Nil) for audit fees.

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the company during the year.

11 Employees

The average monthly number of full time equivalent employees during the year was:

2022 2021
Number Number
23 19

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

11
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
685,826
566,079
43,861
29,706
11,104
7,956
740,791
603,741		 (Continued)
2022
2021
£
£
685,826
566,079
43,861
29,706
11,104
7,956
740,791
603,741
603,741

There were no employees whose annual remuneration was more than £60,000.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets

High
Dependency
Unit
Play
Structures
£
£
Cost
At 1 April 2021
59,340
32,565
At 31 March 2022
59,340
32,565
Depreciation and impairment
At 1 April 2021
35,604
17,065
Depreciation charged in the year
5,934
3,000
At 31 March 2022
41,538
20,065
Carrying amount
At 31 March 2022
17,802
12,500
At 31 March 2021
23,736
15,500		 Minibus
Buildlings Football Pitch
£
£
£
33,701
237,633
63,470
33,701
237,633
63,470
33,701
154,029
19,041
-
8,457
6,347
33,701
162,486
25,388
-
75,147
38,082
-
83,604
44,429		 Total
£
426,709
426,709
259,440
23,738
283,178
143,531
167,269

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

13 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
31,197
127,604
7,408
166,209		 2021
£
28,725
35,027
5,533
69,285

14 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
15
Trade creditors
Accruals and deferred income		 2022
£
20,861
72,853
13,989
9,750
117,453		 2021
£
5,951
74,553
23,956
6,000
110,460

15 Deferred income

2022 2021
£ £
Other deferred income 72,853 74,553

Deferred income is included in the financial statements as follows:

Brought Released Deferred Carried
Forward in theyear in theyear Forward
£ £ £ £
Heritage LotteryFund 13,020 (13,020) - -
HenrySmith - Inclusion - - 9,550 9,550
Garfield Weston - Overhead 3,333 (3,333) - -
CityBridge Trust - Nature Garden 5,950 (5,950) 9,811 9,811
London CommunityResponse Fund(CBT)- Karting 21,564 (21,564) - -
LBL - Accessible SensoryGarden - APG 8,000 (8,000) - -
The National LotteryCommunityFund - APG 22,686 (22,686) 16,492 16,492
Locality- Nature Garden 12,000 12,000
Portal Trust - Karting 25,000 25,000
74,553 (74,553) 72,853 72,853

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £11,104 (2021 - £7,956).

17 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Tangible assets
143,531
-
Current assets/(liabilities)
190,715
12,849
334,246
12,849		 Total
Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
143,531
167,269
-
203,564
168,924
6,238
347,095
336,193
6,238		 Total
2021
£
167,269
175,162
342,431

18 Statement of funds

Brought Incoming Resources Transfers Carried
Forward Resources Expended Forward
£ £ £ £ £
Restricted funds
KartingProject - 68,672 (163,703) 95,031 -
Nature Garden - 126,425 (185,056) 58,631 -
Adventure Playground - 30,686 (125,604) 94,918 -
Inclusion Project - 44,975 (272,453) 227,478 -
Active Together 6,238 104,460 (113,144) 2,446 -
Bolton Crescent - 156,496 (143,647) 12,849
6,238 531,714 (1,003,607) 478,504 12,849
Unrestricted funds
Designated funds -
Fixed asset fund 167,269 - - (23,738) 143,531
General funds 168,924 527,720 (51,163) (454,766) 190,715
TOTAL FUNDS £ 342,431 £1,059,434 **£(1,054,770) ** - £ 347,095

19 Designated Funds

In accordance with Charities SORP FRS 102, the fixed assets of an organisation are considered to be not easily realisable and therefore should not be represented by general funds. The balance carried forward is equal to the year end net book value of fixed assets.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

20 Restricted Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

The Karting Project operates a karting track which is available to local young people, where they can develop skills in driving, mentoring and volunteering.

The Nature Garden is an environmental project aimed at younger children. It offers forest school, environmental education, and food growing to children and the local community. It is available to groups from schools and nurseries, as well as individual children.

The Adventure Playground offers free play in a safe environment to children, and volunteering opportunities.

The Inclusion Project supports disabled children and young people, and enables them to participate in all the Oasis activities.

The Active Together Project provides free active sports sessions for families.

Some projects were not adequately financed by restricted grants. In these cases unrestricted funds have been used to subsidise the activity.

21 Commitments

During the year, the Charity occupied four play sites, the Nature Garden, the Adventure Playground and the Karting Track in Stockwell and the Adventure Playground in Kennington. The main office is based on the Adventure Playground site in Stockwell.

The Active Together Project is delivered at Oasis sites and at Triangle Adventure Playground.

22 Contingent liabilities

The trustees are not aware of any contingent liabilities.

23 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

24
Cash generated from operations
Surplus for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
(Decrease)/increase in deferred income
Cash (absorbed by)/generated from operations		 2022
£
4,664
23,738
(96,924)
8,693
(1,700)
(61,529)		 2021
£
20,986
23,738
18,649
(834)
41,320
103,859