2023-03-31-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 2023

OASIS CHILDREN'S VENTURE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees and directors Mr Timothy Bowker Ms Catherine Atkin Ms Henrietta Boxer Mr Peter McNally Ms Katharyn White Mr Harry Hughes-Davies (Appointed 26 January 2023) 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 2023

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 2023.

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:

• To provide recreational and leisure facilities for children and young people from the London Borough of Lambeth and neighbouring boroughs;

• To deliver innovative services that will enable young people and children to participate actively in the community.

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.

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OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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:

• Inclusive - addressing inequality.

• Collaborative - working together within the community.

• Respect - Valuing difference and diversity.

• Openness - a willingness to try new things/ideas and approaches

Oasisplay runs a wide range of community services from four unique sites in Stockwell and Kennington. Services are fully inclusive. Disabled children and young people are supported to join in everything Oasisplay has to offer.

Adventure Playground - Stockwell - Open access adventure play after school and school holidays, including sports and art activities.

Highlights - a beautiful sensory garden providing a tranquil and relaxing space for all children to enjoy.

Adventure Playground - Bolton Crescent - open access adventure play and short breaks for disabled children and young people. The site has been fully open since September 2022 and the number of short breaks children attending is gradually increasing.

Highlights - new box play structure, allotment for growing vegetables and fantastic painting of the buildings and spaces to create a vibrant child friendly environment.

Nature Garden - open access play, under5s forager group, Forest school activities for local SEND schools, Community Saturdays and birthday parties.

Highlights - improved income generation this year from the team!

Right Track Project - driving and mechanics for young people, volunteering programme and accredited qualifications.

Highlights - winning the Proto EV challenge - building and racing our own electric karts - the first step towards full electrification of the track.

Youth Empowerment Project - Girls Space, mentoring, Youth Night and Pitstop.

Highlight - Camping trip to Frylands Wood during summer holidays - 20 young people enjoyed sleeping under canvas and taking part in night walks, campfires, tunnelling, rock-climbing and swimming.

Access and Support team - we have a fantastic team which supports disabled and non-disabled children, families and staff across all the projects, ensuring that access is appropriate to the needs of all members of our community.

During the year, over 700 individual members take part in free open access play services at our four unique sites.

A further 950 children and young people have visited over the year with their families, schools or as part of private group bookings.

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OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 £552,277 (2022 - £477,156). Other sources of funding amount to £Nil of restricted funds and £8,173 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 £1,190,718 (2022 - £1,054,770).

Closing reserves at 31 March 2023 were £300,439 of unrestricted funds and £Nil restricted funds. The unrestricted funds comprised a fixed asset fund of £119,793, and general funds of £180,646.

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 £200,100 for 2023/24. At 31 March 2023, the unrestricted free reserves for the future operations of the Charity was £180,646 (2022 - £190,715).

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OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

In accordance with the company's articles, a resolution proposing that BGM Helmores Limited be reappointed as auditor of the company 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.

The trustees' report was approved by the Trustees.

Mr Simon Pring Secretary

8 December 2023

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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 2023 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, 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 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:

• the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

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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:

• We obtained an understanding of laws and regulations that affect the Charity, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the tax legislation, Charities Act.

• We enquired of the trustees and reviewed trustees' meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the trustees have in place to ensure compliance.

• We gained an understanding of and evaluated the controls that the trustees have in place to prevent and detect fraud. We enquired of the trustees about any incidences of fraud that had taken place during the accounting period.

• The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: income recognition, management override, misappropriation of assets.

• We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.

• We enquired of the trustees about actual and potential litigation and claims.

• We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.

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OASIS CHILDREN'S VENTURE

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

• In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

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.

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.

BGM Helmores Limited Chartered Accountants Statutory Auditor

114a Cromwell Road Kensington London SW7 4AG

11 December 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.

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OASIS CHILDREN'S VENTURE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Current financial year Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income and endowments from: Donations and legacies 3 203,558 379,678 Charitable activities 4 552,277 - Investments 5 376 - Other income 6 8,173 - Total income 764,384 379,678 Expenditure on: Raising funds 7 19,440 - Charitable activities Year ended 31 March 8 277,295 893,983 Total charitable expenditure 277,295 893,983 Total expenditure 296,735 893,983 Net incoming/(outgoing) resources before transfers 467,649 (514,305) Gross transfers between funds (501,456) 501,456 Net (expenditure)/income for the year/ Net movement in funds (33,807) (12,849) Fund balances at 1 April 2022 334,246 12,849 Fund balances at 31 March 2023 300,439 -	Total 2023 £ 583,236 552,277 376 8,173 1,144,062 19,440 1,171,278 1,171,278 1,190,718 (46,656) - (46,656) 347,095 300,439	Total 2022 £ 570,561 477,156 - 11,717
		1,059,434
		24,480
		1,030,290
		1,030,290
		1,054,770
		4,664 -
		4,664 342,431
		347,095

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.

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OASIS CHILDREN'S VENTURE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Prior financial year - audited 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 6 11,717 - Total income 527,720 531,714 Expenditure on: Raising funds 7 24,480 - Charitable activities Year ended 31 March 8 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 2022 £ 570,561 477,156 11,717
	1,059,434
	24,480
	1,030,290
	1,030,290
	1,054,770
	4,664 -
	4,664 342,431
	347,095

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OASIS CHILDREN'S VENTURE

BALANCE SHEET

AS AT 31 MARCH 2023

2023 Notes £ Fixed assets Tangible assets 13 Current assets Debtors 14 65,790 Cash at bank and in hand 220,028 285,818 Creditors: amounts falling due within one year 15 (105,172) Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds	2022 £ £ 119,793 166,209 154,808 321,017 (117,453) 180,646 300,439 - 300,439 300,439	£ 143,531 203,564
		347,095
		12,849 334,246
		347,095

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 2023, 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 6 December 2023

Mr Timothy Bowker Ms Catherine Atkin Trustee Trustee

Company registration number 02757764

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OASIS CHILDREN'S VENTURE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 26 Investing activities Investment income received Net cash generated from/(used in) investing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2023 £ 376	£ 64,844 376 - 65,220 154,808 220,028	2022 £ -	£ (61,529) - - (61,529) 216,337 154,808

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OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Donations, grants and gifts are recognised when the charity is legally entitled to them 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.

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OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

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. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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.

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OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

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.

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.

1.12 Volunteers

The value of the services provided by volunteers is not incorporated into these financial statements.

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OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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.

3 Donations and legacies

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2023	2023	2023	2022	2022	2022
	£	£	£	£	£	£
Grants, donations and
gifts	203,558	379,678	583,236	195,343	375,218	570,561

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OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies Grants, donations and gifts Sport England - Active Together The National Lottery - Reaching Communities - Inclusion Henry Smith's Charity Young Londoners Fund - Karting The National Lottery - Reaching Communities - APG City Bridge Trust BBC Children In Need Heritage Lottery Fund London Community Response (CBT) Karting - Portal Trust Charles Hayward - Girls Night Tudor Trust St James Place Children Together Fund - Active Community Arts Council Baily Thomas Fund - Bolton Crescent Gift Aid - Karting Awards for All - Karting Various grants London Borough of Lambeth/Young Lambeth Co-op Walcot Foundation Charlie Chaplin Fund Lambeth HAF - Summer Garfield Weston Blenheim Forage Donations Just Giving Donations Access to work Karting - donations Donations - Nature Garden Other	- - - - - - - - - - - - - - - - - - - 69,444 29,870 - 48,880 30,000 2,208 2,203 13,165 7,788 - 203,558	69,325 42,382 57,300 - 51,750 18,511 9,876 6,510 - 25,000 15,000 30,000 10,000 7,024 10,000 5,000 10,000 - 12,000 - - - - - - - - - - - - 379,678	69,325 42,382 57,300 - 51,750 18,511 9,876 6,510 - 25,000 15,000 30,000 10,000 7,024 10,000 5,000 10,000 - 12,000 69,444 29,870 - 48,880 30,000 - 2,208 2,203 - 13,165 7,788 - 583,236	- - - - - - - - - - - - - - - - - - - 69,444 24,686 30,667 29,969 3,333 17,299 14,820 - 4,225 - - 900 195,343	(Continued) 104,459 104,459 77,441 77,441 19,100 19,100 28,389 28,389 48,561 48,561 31,164 31,164 8,719 8,719 13,020 13,020 21,564 21,564 - - - - - - - - - - - - - - 10,000 10,000 12,801 12,801 - 69,444 - 24,686 - 30,667 - 29,969 - 3,333 - 17,299 - 14,820 - - - 4,225 - - - - - 900 375,218 570,561	(Continued) 104,459 104,459 77,441 77,441 19,100 19,100 28,389 28,389 48,561 48,561 31,164 31,164 8,719 8,719 13,020 13,020 21,564 21,564 - - - - - - - - - - - - - - 10,000 10,000 12,801 12,801 - 69,444 - 24,686 - 30,667 - 29,969 - 3,333 - 17,299 - 14,820 - - - 4,225 - - - - - 900 375,218 570,561
						570,561

• 16 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

	Year ended	Year ended
	31 March	31 March
	2023	2022
	£	£
Bookings and membership income	552,277	477,156
Analysis by fund
Unrestricted funds	552,277	320,660
Restricted funds	-	156,496
	552,277	477,156

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 Investments

		Unrestricted	Total
		funds
		2023	2022
		£	£
	Interest receivable	376	-
6	Other income
		Unrestricted	Unrestricted
		funds	funds
		2023	2022
		£	£
	Other income	8,173	11,717

• 17 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 8

Raising funds Unrestricted Unrestricted funds funds 2023 2022 £ £ Fundraising and publicity Fundraising consultants 19,440 24,480 19,440 24,480 Charitable activities Year ended 31 March Year ended 31 March 2023 2022 £ £ Share of support costs (see note 10) 1,157,628 1,020,540 Share of governance costs (see note 10) 13,650 9,750 1,171,278 1,030,290 Analysis by fund Unrestricted funds 277,295 26,683 Restricted funds 893,983 1,003,607 1,171,278 1,030,290

• 18 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Charitable activities

	Unrestricted	Restricted	31.3.2023	31.3.2022
	funds	funds	Total	Total
	£	£	£	£
Charitable Activities
KartingProject	-	172,882	172,882	163,703
Nature Garden	-	186,295	186,295	185,056
Adventure Playground	-	442,595	442,595	125,604
Inclusion Project	-	-	-	272,453
Active Together Project	-	92,211	92,211	113,144
Bolton Crescent	265,705	-	265,705	143,647
General Funds - Central Administration	11,590	-	11,590	26,683
For theyear ended 31 March 2023	277,295	893,983	1,171,278	1,030,290
For theyear ended 31 March 2022	26,683	1,003,607		1,030,290
	Direct	Allocated	31.3.2023	31.3.2022
	Costs	Support	Total	Total
		Costs
	£	£	£	£
Restricted Funds
Charitable activities - allocation of central	costs
KartingProject	149,700	23,182	172,882	163,703
Nature Garden	163,113	23,182	186,295	185,056
Adventure Playground	361,458	81,137	442,595	125,604
Inclusion Project	-	-	-	272,453
Active Together Project	80,620	11,591	92,211	113,144
Bolton Crescent	184,568	81,137	265,705	143,647
General Funds - Central Administration	231,819	(220,229)	11,590	26,683
For theyear ended 31 March 2023	1,171,278	-	1,171,278	1,030,290

• 19 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Support costs

Staff costs Depreciation Insurance (excluding minibus) Recruitment costs Telephone Water Postage and Stationary Project running costs Minibus Light and heat Audit fees Analysed between Charitable activities	Support costs Governance costs £ £ 874,561 - 23,738 - 18,345 - 385 - 2,840 - 1,439 - 2,509 - 214,223 - 3,211 - 16,377 - - 13,650 1,157,628 13,650 1,157,628 13,650	2023 £ 874,561 23,738 18,345 385 2,840 1,439 2,509 214,223 3,211 16,377 13,650 1,171,278 1,171,278	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

Governance costs includes payments to the auditors of £11,700 (2022- £9,750) for audit fees.

11 Trustees

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

12 Employees

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

Employment costs Wages and salaries Social security costs Other pension costs	2023 Number 25 2023 £ 812,137 49,466 12,958 874,561	2022 Number 23
		2022 £ 685,826 43,861 11,104
		740,791

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

• 20 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

13 Tangible fixed assets

High Dependency Unit Play Structures £ £ Cost At 1 April 2022 59,340 32,565 At 31 March 2023 59,340 32,565 Depreciation and impairment At 1 April 2022 41,538 20,065 Depreciation charged in the year 5,934 3,000 At 31 March 2023 47,472 23,065 Carrying amount At 31 March 2023 11,868 9,500 At 31 March 2022 17,802 12,500	Minibus Buildlings Football Pitch £ £ £ 33,701 237,633 63,470 33,701 237,633 63,470 33,701 162,486 25,388 - 8,457 6,347 33,701 170,943 31,735 - 66,690 31,735 - 75,147 38,082	Total £ 426,709
		426,709
		283,178 23,738
		306,916
		119,793
		143,531

• 21 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Debtors

Debtors
Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income	2023 £ 13,670 38,018 14,102 65,790	2022 £ 31,197 127,604 7,408
		166,209

15 Creditors: amounts falling due within one year

Notes Other taxation and social security Deferred income 16 Trade creditors Accruals and deferred income	2023 £ 17,601 75,871 - 11,700 105,172	2022 £ 20,861 72,853 13,989 9,750
		117,453

16 Deferred income

	2023	2022
	£	£
Other deferred income	75,871	72,853

Deferred income is included in the financial statements as follows:

	Brought	Released	Deferred	Carried
	Forward	in theyear	in theyear	Forward
	£	£	£	£
HenrySmith - Inclusion	9,550	(57,300)	57,300	9,550
CityBridge Trust - Nature Garden	9,811	(9,811)	-	-
The National LotteryCommunityFund - APG	16,492	(38,835)	35,288	12,945
Locality- Nature Garden	12,000	(12,000)	-	-
Portal Trust - Karting	25,000	(25,000)	-	-
Children in Need - Karting	-	-	9,876	9,876
Lambeth CommunityConnection Fund	-	-	43,500	43,500
	72,853	(142,946)	145,964	75,871

• 22 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

17 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 £12,958 (2022 - £11,104).

18 Analysis of net assets between funds

Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 119,793 - Current assets/(liabilities) 180,646 - 300,439 -	Total Unrestricted funds Restricted funds 2023 2022 2022 £ £ £ 119,793 143,531 - 180,646 190,715 12,849 300,439 334,246 12,849	Total 2022 £ 143,531 203,564
		347,095

19 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

20 Statement of funds

	Brought	Incoming	Resources	Transfers	Carried
	Forward	Resources	Expended		Forward
	£	£	£	£	£
Restricted funds
KartingProject	-	89,876	(172,882)	83,006	-
Nature Garden	-	89,403	(186,295)	96,892	-
Adventure Playground	-	109,050	(442,595)	333,545	-
Active Together	-	76,349	(92,211)	15,862	-
Bolton Crescent	12,849	15,000	-	(27,849)	-
	12,849	379,678	(893,983)	501,456	-
Unrestricted funds
Designated funds -
Fixed asset fund	143,531	-	-	(23,738)	119,793
General funds	190,715	764,384	(296,735)	(477,718)	180,646
TOTAL FUNDS	£ 347,095	£ 1,144,062	£(1,190,718)	-	£ 300,439

21 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.

• 23 -

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

22 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.

23 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.

24 Contingent liabilities

The trustees are not aware of any contingent liabilities.

25 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

26 Cash generated from operations (Deficit)/surpus for the year Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase)/decrease in debtors (Decrease)/increase in creditors (Decrease)/increase in deferred income Cash generated from/(absorbed by) operations	2023 £ (46,656) (376) 23,738 100,419 (15,299) 3,018 64,844	2022 £ 4,664 - 23,738 (96,924) 8,693 (1,700) (61,529)

• 24 -