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2024-03-31-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 2024

OASIS CHILDREN'S VENTURE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees and directors Mr Timothy Bowker Ms Henrietta Boxer Mr Peter McNally Ms Katharyn White Mr Harry Hughes-Davies Secretary and trustee Mr Simon Pring Charity number 1019626 Company number 02757764 Registered office 33 Priory Grove London SW8 2PD Auditor BGM Helmores Limited 3rd Floor 114a Cromwell Road Kensington London SW7 4AG

OASIS CHILDREN'S VENTURE

CONTENTS

Page
Trustees' report 1 - 4
Independent auditor's report 5 - 8
Statement of financial activities 9 - 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 27

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

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 2024.

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.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

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 2024

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:

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. All activities are fully inclusive with disabled and non disabled children playing and having fun together.

Highlights - new food growing planters and gardening activities for children!

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 - a food growing allotment and new giant chairs to play on!

Nature Garden - Forest School Foragers - nature based activities for under 5s and their families. Regular school visits to enhance curriculum learning and children's wellbeing. Highlights - plans for our new building coming along nicely!

Right Track Project - Karting and mechanics sessions for at risk young people, mentoring and support to stay in education and reach their potential. Highlights - Winners of the 2023 Proto EV challenge - young people converted petrol karts in to electric karts and won the time trial!

During the year, over 850 individual members take part in free open access play services at our four unique sites.

A further 500 children and young people have visited over the year with their families, schools or as part of private group bookings.

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 £622,930 (2023 - £552,277). Other sources of funding amount to £Nil of restricted funds and £1,525 of unrestricted funds.

The main funders over £10,000 included The National Lottery Community Fund, London Borough of Lambeth, Sport England, Henry Smith's Charity, The Tudor Trust, The London Marathon Foundation, Charles Hayward and Garfield Weston.

Total revenue expenditure for the year was £1,196,684 (2023 - £1,190,718).

Closing reserves at 31 March 2024 were £304,552 of unrestricted funds and £Nil restricted funds. The unrestricted funds comprised a fixed asset fund of £97,155 (2023: £119,793), and general funds of £207,397 (2023: £180,646).

The trustees have reviewed the budget for the next 12 months and consider that there is an uncertainty that the charity has adequate resources to continue for the foreseeable future. This is further considered in note 1.2 of the financial statements.

The trustees aim to build an unrestricted reserve equivalent to three month's salary costs, budgeted at approximately £200,000 for 2024/5. At 31 March 2024, the unrestricted free reserves for the future operations of the Charity was £207,397 (2023: £180,646).

Risk Management

We maintain a risk register which is reviewed periodically with managers and any identified major risks will be brought to Trustees notice at regular meetings.

New procedures will be discussed with managers to minimise the potential impact of those risks and new processes will be implemented. The inability to secure grant funding is the major risk that may prevent Oasis from carrying out its charitable objectives. This year, we have not been able to secure funds from some of our regular funders including The National Lottery Community Fund, Children in Need and The Henry Smith Charity. To name just a few.

Restructuring and redundancies will be considered as an immediate solution to mitigate financial risk.

OASIS CHILDREN'S VENTURE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Trustees.

Mr Timothy Bowker Trustee

Mr Harry Hughes-Davies Trustee

20 February 2025

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 2024 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.

Material uncertainty relating to going concern

We draw attention to the going concern section in Note 1.2 to the financial statements. The charity's ability to generate funds to meet short term operating cash requirements is reliant on it obtaining additional grants from its funders, and in increasing its income from the activities it provides. The charity is currently operating at a deficit which is being funded in part from its reserves. This causes doubt on the charity's ability to continue as a going concern. However as set out in Note 1.2 the trustees have put together a strategy to mitigate against this risk. Our opinion is not modified in respect of this matter.

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.

Our responsibilities and the responsibilities of the directors 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.

OASIS CHILDREN'S VENTURE

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

Matters on which we are required to report by exception

Except for the matter described in the Material uncertainty related to going concern section, 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:

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.

OASIS CHILDREN'S VENTURE

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

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

3rd Floor 114a Cromwell Road London SW7 4AG

25 February 2025

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 2024

Current financial year
Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
68,636
507,188
Charitable activities
4
622,930
-
Investments
5
518
-
Other income
6
1,525
-
Total income
693,609
507,188
Expenditure on:
Raising funds
7
22,800
-
Charitable activities
8
244,031
929,853
Total expenditure
266,831
929,853
Net incoming/(outgoing) resources before transfers
426,778
(422,665)
Gross transfers between funds
(422,665)
422,665
Net income/(expenditure) for the year/
Net movement in funds
4,113
-
Fund balances at 1 April 2023
300,439
-
Fund balances at 31 March 2024
304,552
-		 Total
2024
£
575,824
622,930
518
1,525
1,200,797
22,800
1,173,884
1,196,684
4,113
-
4,113
300,439
304,552		 Total
2023
£
583,236
552,277
376
8,173
1,144,062
19,440
1,171,278
1,190,718
(46,656)
-
(46,656)
347,095
300,439

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

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 2024

Prior financial year - audited
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
8
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 income/(expenditure) 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
1,190,718
(46,656)
-
(46,656)
347,095
300,439

OASIS CHILDREN'S VENTURE

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
15
Current assets
Debtors
16
168,399
Cash at bank and in hand
177,603
346,002
Creditors: amounts falling due within
one year
17
(138,605)
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Designated funds
97,155
General unrestricted funds
207,397		 2023
£
£
97,155
65,790
220,028
285,818
(105,172)
207,397
304,552
119,793
180,646
304,552
304,552		 £
119,793
180,646
300,439
300,439
300,439

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 2024, 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 20 February 2025

Mr Timothy Bowker Mr Harry Hughes-Davies
Trustee Trustee
Company registration number 02757764

OASIS CHILDREN'S VENTURE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
27
Investing activities
Investment income received
Net cash generated from 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		 2024
£
518		 £
(42,943)
518
-
(42,425)
220,028
177,603		 2023
£
376		 £
64,844
376
-
65,220
154,808
220,028

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future, however, the trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern.

Since the year-end 31 March 2024, the Charity has been unsuccessful in retaining some of the larger preexisting funders it previously had in place. This has resulted in it operating at a continuous deficit for large parts of 2024 and the first quarter of 2025, during which it has relied on pre-existing reserves to continue its operations.

Based on management accounts, the charity has reserves of c.£380k and a cash balance of c.£262k at 31 January 2025. Whilst the trustees acknowledge that this performance would not be sustainable in the longterm, these funds and reserves have allowed operations to continue whilst additional funders have been sought. The trustees have also considered the following when reaching a going concern conclusion:

As a result of these considerations, at the time of approving the financial statements, the Trustees consider that the Charity will have sufficient resources to continue in operational existence for the foreseeable future, despite the degree of uncertainty that exists. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual 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.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Restricted funds are subject to specific conditions by donors or grantors 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.

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.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

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.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 2024

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Grants, donations and gifts
68,636
507,188
Grants, donations and gifts
Unrestricted grants,
donations and gifts
Charities Trust
1,501
-
Ludlow Trust
2,000
-
Michael Tippett School
46,000
-
London Borough of
Lambeth/Young Lambeth
Co-op
-
-
Walcot Foundation
-
-
Lambeth HAF - Summer
-
-
Garfield Weston
-
-
Individual Donations
3,092
-
Just Giving Donations
-
-
Individual Donations -
Karting
9,768
-
Individual Donations -
Nature Garden
6,275
-
Total unrestricted grants,
donations and gifts
68,636
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
575,824
203,558
379,678
1,501
-
-
2,000
-
-
46,000
-
-
-
69,444
-
-
29,870
-
-
48,880
-
-
30,000
-
3,092
2,208
-
-
2,203
-
9,768
13,165
-
6,275
7,788
-
68,636
203,558
-		 Total
2023
£
583,236
-
-
-
69,444
29,870
48,880
30,000
2,208
2,203
13,165
7,788
203,558

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3
Donations and legacies
The National Lottery -
Adventure Playground
The National Lottery -
Reaching Communities
The National Lottery
Community Fund
The National Lottery - Million
Hours
EIPS Income - London
Borough of Lambeth
HAF Grant - London
Borough of Lambeth
Community Connection
Grant - London Borough of
Lambeth
Other London Borough of
Lambeth Grant Income
Sport England - Active
Together
Henry Smith's Charity
City Bridge Trust
BBC Children In Need
Heritage Lottery Fund
Karting - Portal Trust
Charles Hayward - Girls
Night
Tudor Trust
St James Place Children
Together Fund - Active
Community
Arts Council
Baily Thomas Fund - Bolton
Crescent
Lord Mayor's Fund
Knights Youth Centre
Kusuma Trust
London Marathon
Foundation
Mercer's Company
Sir Walter St. John's
Stockwell Strong
Garfield Weston
Individual restricted
donations
Total restricted income
Total grants, donations
and gifts		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
68,636		 -
51,781
9,900
3,817
51,000
65,570
60,000
11,165
11,921
57,248
-
9,876
-
25,000
15,000
30,000
10,000
-
-
-
-
10,279
25,846
12,000
9,630
4,155
3,000
30,000
-
507,188
507,188		 -
51,781
9,900
3,817
51,000
65,570
60,000
11,165
11,921
57,248
-
9,876
-
25,000
15,000
30,000
10,000
-
-
-
-
10,279
25,846
12,000
9,630
4,155
3,000
30,000
-
507,188
575,824		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
203,558		 (Continued)
51,750
51,750
42,382
42,382
-
-
-
-
-
-
-
-
-
-
-
-
69,325
69,325
57,300
57,300
18,511
18,511
9,876
9,876
6,510
6,510
25,000
25,000
15,000
15,000
30,000
30,000
10,000
10,000
7,024
7,024
10,000
10,000
5,000
5,000
12,000
12,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,000
10,000
379,678
379,678
379,678
583,236		 (Continued)
51,750
51,750
42,382
42,382
-
-
-
-
-
-
-
-
-
-
-
-
69,325
69,325
57,300
57,300
18,511
18,511
9,876
9,876
6,510
6,510
25,000
25,000
15,000
15,000
30,000
30,000
10,000
10,000
7,024
7,024
10,000
10,000
5,000
5,000
12,000
12,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,000
10,000
379,678
379,678
379,678
583,236
379,678
583,236

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

Year ended Year ended
31 March 31 March
2024 2023
£ £
Bookings and membership income 203,805 82,219
Service contracts - London Borough of Lambeth 419,125 470,058
622,930 552,277

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 service contract income received from the London Borough of Lambeth; income from Lambeth Council provided as a grant is shown separately. 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 Income from investments

6
7		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
518
376
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
1,525
8,173
Raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Fundraising consultants
22,800
19,440
22,800
19,440		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
518
376
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
1,525
8,173
Raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Fundraising consultants
22,800
19,440
22,800
19,440
19,440

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on charitable activities

Share of support and governance costs (see note 10)
Support
Governance
Analysis by fund
Unrestricted funds
Restricted funds		 Total
2024
£
1,161,584
12,300
1,173,884
244,031
929,853
1,173,884		 Total
2023
£
1,157,628
13,650
1,171,278
277,295
893,983
1,171,278

9 Charitable activities

**Unrestricted ** **Unrestricted ** Restricted Restricted 31.3.2024
31.3.2023		 31.3.2024
31.3.2023		 31.3.2024
31.3.2023
funds funds Total
Total
£ £ £ £
Charitable Activities
Karting Project - 165,820 165,280 172,882
Nature Garden - 170,436 170,436 186,295
Adventure Playground - 425,031 425,031 442,595
Active Together Project - - - 92,211
Bolton Crescent - 400,394 400,394 265,705
General Funds - Central Administration 12,203 - 12,203 11,590
For the year ended 31 March 2024 12,203 1,161,681 1,173,344 1,171,278
For the year ended 31 March 2023 277,295 893,983 1,171,278
Direct Allocated 31.3.2024
31.3.2023
Costs Support Total
Total
Costs
£ £ £ £
Restricted Funds
Charitable activities - allocation of central costs
Karting Project 141,417 24,403 165,820 172,882
Nature Garden 146,033 24,403 170,436 186,295
Adventure Playground 333,520 91,511 425,031 442,595
Active Together Project - - - 92,211
Bolton Crescent 308,883 91,511 400,394 265,705
General Funds - Central Administration 244,031 (231,828) 12,203 11,590
For the year ended 31 March 2024 1,173,884 - 1,173,884 1,171,278

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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
£
£
912,037
-
22,638
-
22,868
-
-
-
3,559
-
1,759
-
1,205
-
170,912
-
2,415
-
24,191
-
-
12,300
1,161,584
12,300
1,161,584
12,300		 2024
£
912,037
22,638
22,868
-
3,559
1,759
1,205
170,912
2,415
24,191
12,300
1,173,884
1,173,884		 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

Governance costs includes payments to the auditors of £12,300 (2023- £11,700) for audit fees.

11 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 12,300 13,650
Depreciation of owned tangible fixed assets 22,638 23,738

12 Trustees

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

13 Employees

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

2024 2023
Number Number
26 25

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2024
2023
£
£
851,212
812,137
47,844
49,466
12,981
12,958
912,037
874,561
2024
2023
£
£
50,871
50,282		 (Continued)
2024
2023
£
£
851,212
812,137
47,844
49,466
12,981
12,958
912,037
874,561
2024
2023
£
£
50,871
50,282
874,561
2023
£
50,282

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Tangible fixed assets

High
Dependency
Unit
Play
Structures
£
£
Cost
At 1 April 2023
59,340
32,565
At 31 March 2024
59,340
32,565
Depreciation and impairment
At 1 April 2023
47,472
23,065
Depreciation charged in the year
5,934
1,900
At 31 March 2024
53,406
24,965
Carrying amount
At 31 March 2024
5,934
7,600
At 31 March 2023
11,868
9,500		 Minibus
Buildlings Football Pitch
£
£
£
33,701
237,633
63,470
33,701
237,633
63,470
33,701
170,943
31,735
-
8,457
6,347
33,701
179,400
38,082
-
58,233
25,388
-
66,690
31,735		 Total
£
426,709
426,709
306,916
22,638
329,554
97,155
119,793

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 46,201 13,670
Other debtors 104,835 38,018
Prepayments and accrued income 17,363 14,102
168,399 65,790
17 Creditors: amounts falling due within one year
2024 2023
Notes £ £
Other taxation and social security 18,331 17,601
Deferred income 19 107,974 75,871
Accruals 12,300 11,700
138,605 105,172
18 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 12,981 12,958
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.
19 Deferred income
2024 2023
£ £
Arising from Deferred grant funding 107,974 75,871

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Deferred income

(Continued)

Grant income is deferred according to the grant period where a repayment term applies, or when otherwise agreed with the grant funder.

Deferred income is included in the financial statements as follows:

At 1 Apr 2023 Grants paid in
Charge for the		 At 31 March
year year 2024
£ £ £ £
Henry Smith - Inclusion 9,550 57,300 (57,248) 9,602
The National Lottery -
Community Fund 12,945 38,836 (51,781) -
The National Lottery - Million
Hours - 22,905 (3,817) 19,088
Children In
Need - Karting 9,876 9,876 (9,876) 9,876
LBL Community
Connection
Fund 43,500 16,500 (60,000) -
Knights Youth
Centre - 18,503 (10,279) 8,224
Kusuma Trust - 62,030 (25,846) 36,184
London
Marathon
Foundation - 37,000 (12,000) 25,000
75,871 262,950 (230,847) 107,974

20 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 2024

21 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.

22 Analysis of net assets between funds

Unrestricted
funds
2024
£
At 31 March 2024:
Tangible assets 97,155
Current assets/(liabilities) 207,397
304,552
Unrestricted
funds
2023
£
At 31 March 2023:
Tangible assets 119,793
Current assets/(liabilities) 180,646
300,439

23 Contingent liabilities

The trustees are not aware of any contingent liabilities.

OASIS CHILDREN'S VENTURE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

24 Statement of funds

Brought Incoming Incoming Resources
Transfers		 Resources
Transfers		 Resources
Transfers		 Carried Carried
Forward Resources Expended Forward
£ £ £ £ £
Restricted funds
Karting Project - 84,756 (141,417) 56,661 -
Nature Garden - 110,168 (146,033) 35,865 -
Adventure Playground - 234,963 (333,520) 98,557 -
Bolton Crescent - 77,300 (308,883) 231,583 -
- 507,187 (929,853) 422,666 -
Unrestricted funds
Designated funds -
Fixed asset fund 119,793 - - (22,638) 97,155
General funds 180,646 693,610 (266,831) (400,028) 207,397
300,439 1,200,797 (1,196,684) - 304,552

25 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.

26 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

27
Cash generated from operations
Surplus/(deficit) 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
Increase/(decrease) in creditors
Increase in deferred income
Cash (absorbed by)/generated from operations		 2024
£
4,113
(518)
22,638
(102,609)
1,330
32,103
(42,943)		 2023
£
(46,656)
(376)
23,738
100,419
(15,299)
3,018
64,844