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Company number 02818823

OASIS CHARITABLE TRUST

CONSOLIDATED FINANCIAL STATEMENTS

31 AUGUST 2022

(Company limited by guarantee and not having a share capital)

Registered charity number 1026487

OASIS CHARITABLE TRUST Company number 02818823 Registered charity number 1026487 FOR THE YEAR ENDED 31 AUGUST 2022

	Page
Reference and administrative details of the charity, its trustees and advisers	1
Directors' report and Strategic Report	2 – 17
Independent auditor’s report	18 – 21
Statement of financial activities (incorporating a consolidated Income and	22
Expenditure Account)
Consolidated balance sheet	23
Company balance sheet	24
Consolidated and company statement of cash flows	25
Notes to the financial statements	26 – 58

OASIS CHARITABLE TRUST

Company number 02818823 Registered charity number 1026487 FOR THE YEAR ENDED 31 AUGUST 2022

DIRECTORS	R Beckford
	D Bright
	O Kolade (appointed 26/01/2022)
	M McAllister
	G Mungeam (resigned 20/07/2022)
	N Salisbury
	J Smith
	C Taylor
	P Warland
	D Willson-Rymer (appointed 26/01/2022)
	C Morgan (appointed 26/01/2022)
SECRETARY AND REGISTERED AND PRINCIPAL
OFFICE	Mr D Parr
	Registered office:
	1 Kennington Road
	London
	SE1 7QP
AUDITOR	Haines Watts Birmingham LLP
	5 – 6 Greenfield Crescent
	Birmingham
	B15 3BE
BANKER	Barclays Bank PLC
	1 Churchill Place
	London E14 5HP
SOLICITORS	Lewis Silkin LLP
	5 Chancery Lane
	Clifford’s Inn
	London EC4A 1BL
	Browne Jacobson LLP
	Victoria Square House
	Victoria Square
	Birmingham B2 4BU
GROUP CHIEF EXECUTIVE	D Parr

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT Company number 04255992 Registered charity number 1098100

FOR THE YEAR ENDED 31 AUGUST 2022

INTRODUCTION

The Directors (who are also the Trustees for the purposes of Charity Law) are pleased to present their report and financial statements for the year ending 31 August 2022. This report, which includes the strategic report, and these statements, have been prepared in accordance with current statutory requirements, the charity’s governing document, the Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), applicable accounting standards and Companies Act 2006.

PRINCIPAL ACTIVITIES

Oasis Charitable Trust (OCT)’s objects are the advancement of Christianity; the advancement of education; the advancement of health and the preservation and protection of public health generally; the relief of persons who are in need, hardship or distress and the prevention and relief of poverty.

The Directors have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities. In particular, the Directors consider how planned activities will contribute to the aims and objectives they have set. The main activities undertaken to further OCT’s purposes for the public benefit are explained later in this report.

GOVERNANCE

Oasis Charitable Trust (OCT) is a company limited by guarantee and governed by its Memorandum and Articles of Association, dated 18th May 1993, as amended and approved by the Charity Commission for England and Wales in July 2020.

New directors are identified by the existing directors on a skills basis and appointed by a majority vote. Their appointment is subject to approval at a General Meeting and they can serve for a term of three years and may serve for a maximum of two further terms of office.

An induction programme is made available to new Directors, which enables them to gain a full understanding of the vision, mission, ethos, values, strategy and activity of OCT. The induction programme includes engaging with OCT’s subsidiaries and training in the responsibilities of charity trustees as well as the governance approach adopted by the Board.

The Directors are covered by the company’s professional indemnity insurance policy.

The Directors met six times this year. They delegate the day-to-day management of the Company to the Group Chief Executive but retain responsibility for major strategic and governance decisions.

On 1 September 2020, OCT became the overall parent of the group with Oasis International Association (OIA) becoming its direct subsidiary. OCT also remains the direct parent of Oasis Community Learning (OCL), Oasis Community Housing (OCH) and Oasis Community Partnerships (OCP). As well as these subsidiaries, OCT also has its own activities which includes providing support services to the other entities in the group. The direct activities of OCT are known by the name ‘Oasis UK’ (OUK).

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

DIRECTORS

The Directors who have served during the year are: R Beckford D Bright O Kolade (appointed 26/01/2022) M McAllister G Mungeam (resigned 20/07/2022) N Salisbury J Smith C Taylor P Warland D Willson-Rymer (appointed 26/01/2022) C Morgan (appointed 26/01/2022)

COMPANY SECRETARY AND COMPANY REGISTRATIONS

Mr Dave Parr is the company secretary and the Company’s registered office is 1, Kennington Road, London SE1 7QP.

OCT is a company limited by guarantee, whose registered number is 02818823. It is also a registered charity, number 1026487.

GOVERNANCE STRUCTURE

OCT exists to ensure that Oasis is strategic in its development, cohesive, mutually supportive and interdependent. It ensures that the work of Oasis is consistent with its overarching vision, mission and values. It also believes that all Oasis work should be contextual, preserving and contributing to regional and local distinctives. Further, it encourages partnership with other like-minded organisations and the provision of complementary services.

In the UK OCT has a legally binding parental relationship with the UK Group.

OCT has a number of subsidiaries; Oasis Community Learning (OCL), its educational trust; Oasis Community Housing (OCH), its housing and homelessness provision; Oasis Community Partnership (OCP), its children’s, youth and community development work; and Oasis International Association (OIA), its charity that supports international work including the work of STOP THE TRAFFIK. OCP is the parent of a number of Hub Companies. All are companies within the OCP Group are limited by guarantee and registered charities apart from OUK Trading Ltd. These companies work within a specific location and are intended to provide a base for developing local community projects funded from local resources. Through the year, 19 of the Hub companies were active and their results are consolidated within OCP and included in these financial statements. OIA is the parent of STOP THE TRAFFIK (STT), who, in turn, is the parent of Traffik Analysis Hub (TA Hub). OCL is the parent of Oasis IT Services Ltd.

Boards of all subsidiary companies are responsible for the governance of those companies and are accountable to the Board of OCT in performing that role.

OCT also continues to bring together Oasis organisations operating around the world – in the UK, India, Zimbabwe, South Africa, Uganda, Kyrgyzstan, Mozambique and Belgium. In all countries, these organisations are locally governed, and held together by a non-legally binding agreement which commits all the countries to a common Christian ethos and to having objectives that focus on the needs of poor, marginalized and excluded people, especially children and young people in urban areas.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

VISION, MISSION, OUTCOMES AND OPERATION

Vision (what we are working towards)

Oasis’ vision is for community – a place where everyone is included, making a contribution and reaching their God-given potential.

Mission (what we are doing now to fulfil our vision)

Oasis is committed to working in an inclusive, integrated, empowering and comprehensive way so that all people experience wholeness and fullness of life.

Outcomes (what we hope will be the results of the work we do)

Local communities that are characterised by high levels of trust, safety, cohesion, mutual support, vibrancy, health and opportunity, and have increasing capacity to address their own issues.
The prevention of people being excluded from community and those that are, brought back into community finding wholeness and fullness of life.
The replication of models that effectively contribute to community transformation or bring the excluded into community.

Operation

Locally, in each place that Oasis operates, Oasis exists to transform communities so that they are healthy. A healthy community is one that is characterised by trust, safety, cohesion, mutual support, vibrancy, health and opportunity, and an increasing capacity to address its own issues.

We have one model of community development, which we refer to as an Oasis Hub. A Hub is a Christcentered place of activity that provides integrated, high quality and diverse services to benefit the whole person and the whole community. This is achieved by bringing together the Oasis ethos and values, local and national resources and expertise, and working together in and with local partnerships, to meet the needs of the local community. We also work (under Outcome 2) with people who are excluded from community, aiming to help create belonging again.

The key ways in which OCT conducts its role are as follows:

To maintain the cohesion of the family of Oasis organisations by ensuring that the Oasis ethos is understood and implemented across the group of organisations;
To ensure that the group of organisations is governed well and in accordance with Oasis theology and ethos;
To grow and develop Oasis hubs; and
To promote the corporate message of Oasis.

In the UK, OCT is the parent of a number of subsidiaries and through this relationship, is ultimately responsible for operations.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

ENGAGEMENT WITH EMPLOYEES (INCLUDING DISABLED PERSONS)

OCT has a clear mission and is committed to achieving this through enabling our people and by recruiting and retaining staff who are the owners of and catalyst for our vision. OCT takes due regard in applications of employment from disabled persons to:

give full and fair consideration of applications for employment made by disabled persons with due regard to their particular aptitudes and abilities;
continuing the employment of and arranging training for employees who have become disabled persons while employed; and
providing training, career development and promotion of disabled persons.

ENGAGEMENT WITH SUPPLIERS, CUSTOMER AND OTHERS IN A BUSINESS RELATIONSHIP

Our ethos provides a framework that enables OCT and the group to form and maintain open, honest and compassionate relationships. Building strong and healthy relationships can only gain better value for our organisations. The better we know, understand and respect suppliers, customers and partners, the better we will work together, maximising best value for money whilst focusing on quality and reliability of service. We not only evaluate cost and service but also social value.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

STRATEGIC REPORT

OCT is the overall group parent of the subsidiaries set out below, through whom it delivers its strategy. OCT is responsible for i. ensuring that all of the work of Oasis is delivered through its ethos and contributes to its overall vision and mission, ii. ensuring the group of charities work together in an interdependent manner, and iii. incubating innovate new models of delivery.

Oasis Community Learning
Oasis Community Partnerships
Oasis Community Housing
Oasis International Association - and in turn STOP THE TRAFFIK

A brief activity report for each direct subsidiary of OCT is given below, as well as a description of some of the innovation being incubated within OCT itself. A more detailed report of strategic aims and future plans for the OCT subsidiaries can be found in their individual Annual Report and Accounts where these are available:

1. OASIS COMMUNITY LEARNING (OCL)

Income of £237,528,000 (2021: £226,020,000) was generated in the year. During the year OCL was responsible for 53 primary and secondary academies across the UK, united by a vision to provide exceptional education at the heart of the community.

The Oasis Community Learning family of academies share one vision to create 'Exceptional Education at the Heart of the Community'. Across the country, over 4,400 staff in roles inside and outside the classroom, work together to develop the competence and character of our thirty thousand young people, ensuring that every one of them has the opportunity to reach their full potential, whatever their background, ability or circumstances.

OCL have 32,310 students, and forty-seven percent of our students receive the pupil premium and thirtyfour percent of our students speak English as an additional language.

Oasis Community Learning continues to challenge academies to raise standards across the family. One priority is to be fully inclusive, and as such are committed to doing everything possible to maximise attendance. OCL’s attendance for 2021/22 was 92.9% in primaries which compares favourably to the national rate for onsite attendance of 91.9%. Likewise, in secondaries, onsite attendance was 88.8% compared to the national rate of 86.6%. OCL’s commitment to inclusion is also reflect in the work being done to reduce exclusion from academies as much as possible In the secondary phase, permanent exclusions reduced year on year between 2018/19 and 2020/21, with 27 in 2018/19, 25 in 2019/20 and down to 5 in 2020/21. There was then an increase to 17 in 2021/22 which is ten fewer than in 2018/19. In the primary phase, permanent exclusions are now very rare. In 2018/19, there were 7 permanent exclusions, reducing to one in both 2019/20 and 2020/21 and down to none in 2021/22.

2. OASIS COMMUNITY PARTNERSHIPS (OCP)

Income of £4,523,412 (2021: £4,541,812) was generated by the OCP group in the year. OCP supported community development work in 39 Hubs (local neighbourhoods) around the UK through 20 subsidiary companies.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

OCP has developed a strategy, which has seen growth in the 19 focus Hubs across the following areas:

i) Children’s and youth work programmes
ii) Community empowerment schemes (social enterprise, community volunteering, social action campaigns, education for life, relationship-building activities etc.)
iii) Advice, resilience and emergency support programmes (advice services, foodbanks etc.) iv) Family support projects
v) The establishment and development of Oasis Churches and chaplaincy vi) Health and wellbeing programmes

Each year OCP produces an impact report to capture the work across all the Hub charities in the last year. The full report includes case studies from some of the beneficiaries of the work of the Hubs and can be found through the OasisUK website.

In 2021/22 OCP had 133 employees, 412 projects and services and over 500 volunteers. During the year, across all our projects, OCP worked with:

5,736 people through our community food provision - providing a staggering 314,390 meals
814 community members through our adult education activities
3,628 people through our family support activities
8,101 children and young people through our youth and children's activities
453 people through our advice and guidance activities
13,923 people through our community activities

3. OASIS COMMUNITY HOUSING (OCH)

Income of £4,270,731 (2021: £4,400,620) was generated by the charity in the year.

In 2021/22 OCH continued to grow and innovate in response to the scale of homelessness challenges in the communities. Despite growing economic challenges of the cost of living and energy crises, OCH’s impact remains broad and deep in the communities where they operate across the North East of England and South London. Some of the statistics that best illustrate their impact last year include:

More than 1,300 people supported through their services
4,616 times the Basis drop-ins helped people rough sleeping or in housing crisis
370 times prevented or alleviated homelessness
4 in 5 women say they feel safer, following help from the empower domestic abuse team
221 individuals or families housed in the Home 24/7 supported accommodation
73 times supporting people through the Aspire projects to enter volunteering, education, training or employment.

OCH have begun to branch out into new areas of work, both in our frontline services and in new efforts to advocate for change at a national level. The 58:7 Project has created a pathway for some of the men who are most entrenched in homelessness across parts of Tyne & Wear to break their cycle of rough sleeping, with 63 of them moving on successfully into appropriate accommodation within the last year.

They have also embarked on an exciting piece of research, which has identified that 94% of those we serve have serious (and often repeated) traumatic experiences that both catalyse them into homelessness, and keep them entrenched within homelessness. We intend to use this report to lead a campaign in the coming years to change government policy in ways that will enable trauma to be addressed and homelessness to be solved in the lives of those we serve.

It seems clear that the country is on the edge of a perfect economic storm that will lead to growing homelessness. Oasis Community Housing is committed to doing all that it can to rise to this challenge in the year ahead.

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OASIS CHARITABLE TRUST DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

4. OASIS INTERNATIONAL ASSOCIATION (OIA)

Activities within OIA were very much based on attracting funding in the UK to support with the Oasis work in various countries. All funds held within OIA are restricted and sent out the month after receipt to the respective countries.

4.1.1 STOP THE TRAFFIK

OIA is a direct parent to STOP THE TRAFFIK. Income of £1,387,5588 (2021: £869,148) was generated by the charity in the year. As with the OCT subsidiaries, a more detailed commentary on STT’s activity and plans are presented in its own Annual Report and Accounts. The objectives of STT are to create a world where people are not bought and sold, by reducing the recruitment of vulnerable people into trafficking; preventing the proceeds of trafficking moving through financial systems; working with businesses to identify and reduce human trafficking risk; and developing the richest global intelligence picture of trafficking.

During 2021/22 STT’s key achievements and performance were focused on:

reducing the recruitment of vulnerable people who are required to maintain the organised global business of human trafficking,
Preventing human traffickers from accessing (proceeds of crime) money and moving it through the financial systems,
Enabling businesses to identify and reduce the human trafficking and modern slavery risk within their operations and supply,
The above lines of work are fuelled by data and intelligence. STT are working to maintain and grow the richest global intelligence picture of trafficking, made up of survivor stories, that continues to inform the core activity of STT including sharing insights with all actors seeking to provide safety and prevent harm.

4.1.2 OASIS INTERNATIONAL FOUNDATION

OIA is also a direct parent of Oasis International Foundation. OIF was established a few years ago as the entity to gather all the learning and expertise within Oasis with an expectation of marketing this expertise. In addition, it was the main income generating entity. OIF was a dormant company in 2022. The entity may be repurposed in the future.

5. OASIS CHARITABLE TRUST (OCT) INNOVATION

Through the year, OCT has begun to develop a number of new projects that are designed to support atrisk young people through a range of therapeutic and restorative interventions. These programmes are in the early stages of development but include new approaches to youth mentoring, therapeutically informed children’s and families work that supports education in school. This also includes consultation on the design of a therapeutically informed and integrated framework for education and care in the UK’s first Secure School.

OCT has also further developed its communications profile, as we have hosted the Commission on Young Lives, which was launched in September 2021 to call for a coordinated national strategy to transform the outcomes of the most marginalised young people in the UK.

FINANCIAL REVIEW

Total consolidated income for the year was £250.6m (2021: £238.3m), which included grants of £238.0m (2021: £227.2m). The majority of grant income was received under the terms of OCL’s funding agreement with the Department for Education. General gifts and donations were £2.8m (2021: £2.6m).

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OASIS CHARITABLE TRUST DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Other subsidiaries within the Oasis family are dependent on less predictable sources of funding. Total income excluding OCL in 2022 is £13.1m (2021: £12.2m). Total group expenditure for the year was £263.8m (2021: £239.0m), of which £261.3m (2021: £237.9m) was spent on charitable activities. The vast majority of this was spent on OCL’s provision of academies (2021: £249.1, 2021: £226.5m).

OCT would like to acknowledge and thank all Oasis supporters for their significant and generous donations during the year. This income is used to support the infrastructure of the organisation, to deliver specific projects not funded by other sources, and to supplement areas where direct funding is insufficient to operate activities to Oasis’ standards. Local Authority funding, in the main, relates to the delivery of youth and inclusion services in local communities. Again, this income is spent in delivering programme activities as agreed with the funding body.

PLANS FOR THE FUTURE

OCT will continue to fulfil the objectives outlined in the Oasis UK Group Strategy, and continue to lead, manage and support the development of the Oasis Hubs, while operating effectively as an organisation and employer. Oasis will focus on further developing our community model and growing our restorative and relational practice. OCT will look to embed the work that we are piloting around support for at-risk young people across the wider organisation.

New legislation has been passed for Secure Academy Trusts to be formed and funded by the Ministry of Justice, OCT has subsequently established a new subsidiary company to take responsibility for the operation of Oasis Restore, and as part of this process the newly developed subsidiary has signed a Funding Agreement with the Ministry of Justice to operate the provision.

GOING CONCERN

The group’s activities are set out on page 22 of the Financial Statements. The going concern of each subsidiary within the group is reviewed independently. Subsidiaries’ reserves are typically restricted to their own objects and the requirements of their funders. As a result, they are required by the directors to demonstrate viability independently from the rest of the group. Each subsidiary has reviewed its going concern including the impact of Covid-19, and their statutory accounts include declarations of where they stand. Following the preparation of budgets and cash flow forecasts, which incorporate all known potential risks following the cost of living crisis, the directors consider that no material uncertainty exists in relation to going concern in any other group entity.

At a group level, the Directors have considered the risks, and these include the ability for the group to carry out its activities. In respect of day-to-day operations, the forecasts and projections for each company within the group show that they will be able to operate within the levels of their operational cash flows. Reports and forecasts are reviewed monthly and presented to finance committees every quarter and, consequently, the directors are able to make an assessment of the resources of the group as a whole.

The largest entity of the group, Oasis Community Learning, a Multi-Academy Trust, has fully considered the impact of the Coronavirus pandemic on the organisation. The going concern status of the organisation has been assessed in the light of the following matters:

The company has Supplementary Funding Agreements with the Department for Education for all of our academies which provide legal certainty of the availability of public funds for at least 7 years;
• There is a sustainable three-year plan in place and the 2022/23 budget has factored in substantial costs to cover our operations throughout the current energy crisis, which sees soaring prices and instils challenges on our academy budgets and also significant increases on staff pay inflation;
Whilst student numbers in the long-term are a slight concern, where there is a level of unpredictability in some year groups, by its nature the organisation is deemed to show no immediate risk in this area as the majority of year-group’s show little sign of pupil number decline;

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Recent government announcements in the Autumn 2022 statement regarding funding for the educational sector have significantly improved the financial outlook for the future although it is likely to still be challenging; and
The company has sufficient reserves and cash balances. These have been tested over a 3-year scenario where discretionary income sources collapse, salary inflation continues to rise, student numbers reduce, and energy costs remain high.

For these reasons, the company will continue to adopt the going concern basis in preparing the financial statements.

For other entities in the group, the Directors have confirmed that the major sources of grant funding are committed and the delivery of the activities can be adjusted where necessary. Furthermore, the Directors are confident that costs will only be incurred to the extent that income is secured. The Directors are confident that the group has adequate resources to continue operating for the foreseeable future, being the period of at least 12 months from the date of signing these accounts and, for this reason, the Directors continue to adopt the going concern basis in preparing these consolidated financial statements. Further details regarding the adoption of the going concern basis can be found in the statement of accounting policies.

RESERVES POLICY

Companies within the OCT group have reserves policies which are set within the guidance issued by the Charity Commission and they have adopted policies to set aside sufficient reserves within each entity. Free reserves should be held to guard against unexpected downturns in financial performance. Free reserves are defined as unrestricted funds less designated funds less tangible fixed assets plus the amounts of loans taken to procure the assets.

OCT and subsidiaries other than OCL have a reserves policy of three months’ operating costs. This is appropriate to ensure sufficient resources are available to honour payroll and contractual commitments. The estimated 3 months operating costs for the group are £65,939,000 (2021: £59,758,000) and across the group, reserves policies are being met. Activities are funded within several restricted funds, especially in OCL, and as such reserves are held both within unrestricted and restricted funds.

The funds of the group have increased during the financial year to £402.4m (2021: £282.1m), of which £8.6m is unrestricted (2021: £7.8m), £2.4m is designated (2021: £2.3m) and £391.3m (2021: £272.0m) is restricted.

Included in the overall group reserves above are OCL’s reserves which were £395.3m (2021: £275.7m) at the balance sheet date. This was made up of £387.7m (2021: £390.2m) in respect of reserves set aside for future depreciation of the company’s assets offset by a deficit of £14.2m (2021: £130.5m) in respect of future potential pension liabilities.

The Directors have considered the current reserves position and will aim to ensure restricted and unrestricted revenue reserves and sinking funds are maintained within the above policy. The reserves policy is being met at group level.

INVESTMENT POLICY

The Treasury policy of the company is founded upon risk minimisation and as such funds are only placed with a limited number of institutions with high credit ratings and for periods of time of up to twelve months. For the first time in several years, Oasis have been able to take advantage of more favourable interest rates on term deposit accounts. Cash reserves during the year to 31 August 2022 were invested in shortmedium term treasury accounts, attracting interest rates (in the latter part of the year) of 2.2% and 2.3%. Our investment strategy for future years is to ensure we maximise returns as high as possible by exploring other low-risk treasury options with increasing rates of return.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

INTERNAL CONTROL AND RISK MANAGEMENT

The Group has systems and procedures in place to assess and manage risk. The Directors review the assessment of risk on a regular basis, adding additional risks as the Group develops and ensures it has in place appropriate controls to mitigate the potential impact of the risks identified.

The Directors consider the key risks faced by the group to be:

Uncertainty over future income streams.
The risks and impact of the cost of living crisis has been assessed by the Directors at a group level and also within each subsidiary and each project. Robust forecasts taking into account the potential impact show that this risk is manageable.
Where subsidiaries are dependent on public sector finance, they are reliant on these for continuing operations. The pressure on the public purse will affect these operations and so the directors have in place a longer-term planning process to ensure longer term viability.
Donated income streams are affected by the lack of money in the traditional Oasis donor base. The directors have a new fundraising strategy and believe that this will mitigate this risk. This has been seen already post year end as many subsidiaries are in receipt of additional donations.

Further risks are generic to each operating subsidiary and are disclosed in their own statutory accounts. The main risks facing OCL are:

Primary Admissions: Current national projections of the school population are forecasting a significant decline in the primary population in the medium term (3-6 years). This will represent a challenge to primary sustainability which will of course then translate into the secondary phase. Our national marketing team are working closely with Primary academies to ensure a thorough campaign for admissions is in place for those schools who are expecting to struggle most.
Staff pay inflation: Inflation as a whole and wage inflation in particular are huge challenges affecting the world at present. We are grateful for additional funding aimed at mitigating this within the education sector however huge uncertainty remains in this area.
Energy crisis: Energy prices remain very high and long-term forecasts whilst predicting some price falls in the medium term show no prospect of getting back to the extremely low levels enjoyed in 2021. Our national procurement manager has been working closely with our energy supplier to mitigate the impact of the volatile energy market on our budgets. We are also implementing energy savings initiatives, such as LED lighting and solar power across our estate, to reduce the amount of electricity units used.
Staff recruitment and retention: In the last year that the Trust, and indeed the sector, has struggled to recruit and retain staff in all disciplines in particular support staff roles. Attracting and retaining the people is fundamental to enable us to deliver effective support services . Vacancies are going unfilled for a significant amount of time. We have also found it challenging to recruit secondary teachers for computing, modern foreign languages and design technology.
Safeguarding : Our priority is to ensure all our staff and students are properly safeguarded. All safeguarding activity is co-ordinated through a national safeguarding team consisting of expert practitioners from the national office team and key safeguarding personnel from academies. Our National Safeguarding Lead co-ordinates our approach and conducts frequent audits to ensure practice on the ground is not only compliant but proactive in ensuring our students are properly looked after and their welfare is being addressed.
Ethos : The Directors believe that maintaining our distinctive Ethos is vital in addressing the needs of the whole person and the influence of education on the wider academy community. Through effective training and communication our aim is to ensure this distinctive person-centred Ethos is kept in the forefront of all we do.
Health & Safety: The size of our estate and the large number of staff and students whose safety is our responsibility means that health and safety is always high on the agenda. Our National Health & Safety Lead is leading a comprehensive audit across the whole trust and areas of significant risk are being continually addressed.
Cyber security: Following recent attacks on the sector this remains a key risk which is being constantly monitored.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

The overall risk register is comprehensive and deals with a wider range of matters than those above. Where appropriate there is adequate insurance cover to mitigate any residual risks.

FUNDRAISING

The sources of income which we focus on in our fundraising are:

Trusts & Foundations
Major Donors
Companies
Churches & Community Groups

Any communications to the public made in the course of carrying out fundraising activity shall be truthful and reflect our ethos and values; our appeals will state whether funds raised are for general funds or a specific purpose; and all money raised via fundraising activities will be for the stated purpose of the appeal and will comply with the organisation’s stated mission and purpose.

Where fundraising is carried out on our behalf, it is done so by volunteers or church and community groups – we do not engage professional fundraisers. In order to support this process and maintain our standards, we employ staff to work closely with these volunteers and supporters, and they are given relevant guidance where necessary. In particular, this guidance will assist fundraisers in ensuring they are able to identify and protect vulnerable people. Furthermore, we have a Fundraising Statement which summarises our standards and approach to fundraising, and which is available for volunteers and other supporters.

All personal information collected by OCT is confidential; is not for sale or to be given away or disclosed to any third party without consent; and complies fully with GDPR standards. Nobody directly or indirectly employed by or volunteering for OCT accept commissions, bonuses or payments for fundraising activities on behalf of the organisation, and no general solicitations are undertaken by telephone or door-to-door.

We have had no fundraising complaints in the last financial year, however if someone wants to make a complaint about our fundraising, we will tell them about our complaints procedure and provide it to them in writing upon request.

EQUAL OPPORTUNITIES POLICY

As a public body, the company is committed to fulfilling its equalities duties and the Directors recognise that equal opportunities should be an integral part of good practice within the workplace. OCT aims to establish equal opportunities in all areas of its activities including the creation of a working environment in which the contribution and needs of all people are fully valued.

The group holds weekly all staff meetings designed to inform them of future plans, train them in the company’s ethos and provide an opportunity for their feedback. Staff are encouraged to contribute to the wider planning processes of the organisation during the Group’s normal operation cycle.

REMUNERATION OF KEY MANAGEMENT PERSONNEL

The key management personnel of the Group comprise the trustees, executive group and senior management team. None of the Directors of the company receive any remuneration for their services. The pay for all senior staff follows the pay scales of the organisation which are evaluated according to the responsibilities of the post, with set grades and increments of pay. Chief Executives’ pay is benchmarked with charities of comparable scale and reach and approved by the Boards on an ad-hoc basis.

Page 12

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Within Oasis Community Learning the pay of key management personnel is determined by a sub-group of the Board. The levels of pay are determined based on an externally moderated job evaluation. The pay of academy Principals and Vice Principals is based on the size of their academy and is consistent throughout OCL. These salaries are based on a seven-point range for Principals and a five-point range for other Leadership roles. A Pay Committee consisting of the CEO, Chief Operating Officer, Finance Director and Director of People authorises any increments in this range. There are no bonus arrangements for senior leaders.

VOLUNTEERS

Volunteers are an important part of the work of OCT and OCP’s subsidiaries and we would like to thank the many volunteers who have assisted during the year. Extensive use of volunteers is made throughout the community hubs and Stop the Traffik, but no value has been attributed due to difficulties with measuring the value. All volunteers have been DBS checked.

EMPLOYEE INVOLVEMENT

OCT has a culture of continuous improvement through investing in people at all levels and is committed to pursuing equality and diversity in all its employment activities including recruitment and training. Employees are provided on a regular basis with information concerning them through the local intranet and regular staff meetings. Employees are consulted regularly about the work around the Oasis family.

WORKING AND ENGAGING WITH OUR STAKEHOLDERS – SECTION 172 STATEMENT

Companies are required to include a statement in their strategic report of how directors have complied with their duty to have regard to the matters in section 172 (1) (a)-(f) of the Companies Act 2006 (‘the Act’). As per the Charities SORP Information Sheet 3: The Companies (Miscellaneous Reporting) Regulations 2018 and UK Company Charities, the duty of the Trustee of a charitable company under this subsection of the Act is to act in the way he or she considers, in good faith, would be most likely to achieve its charitable purpose and in doing so have regard (among other matters) to:

a) The likely consequences of any decision in the long term
b) The interests of the company’s employees
c) The need to foster the company’s business relationships with suppliers, customers and others
d) The impact of the company’s operations on the community and the environment
e) The desirability of the company maintaining a reputation for high standards of business conduct f) The need to act fairly as between members of the company.

Engagement with employees (including disabled persons)

As detailed in the Directors’ Report, OCT has a clear mission and is committed to achieving this through enabling our people and to recruit and retain staff who are the owners of and catalyst for our vision. OCT takes due regard in applications of employment from disabled persons to:

Give full and fair consideration of applications for employment made by disabled persons with due regard to their particular aptitudes and abilities;
Continuing the employment of and arranging training for employees who have become disabled persons while employed; and
Providing training, career development and promotion of disabled persons.

Page 13

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Within OCL specifically there are a range of methods for communicating and engaging with employees, which include:

Full recognition of the teaching trade unions, including weekly meetings concerning the direction of the company, policy development and matters of concern from our staff.
Weekly health and safety meetings in each academy with permanent invites to union representatives. During the pandemic these have been key to hearing and managing staff concerns regarding the environment they are having to work in and how risks are mitigated.
In the last 2 years OCL has completed a full organisational staff survey including in depth questions concerning well-being, knowledge of the company and its ethos, and employees’ own satisfaction with their roles. These were followed up with several ad-hoc surveys looking at different parts of the company on an individual Academy or national service team.
Regular staff bulletins, the creation of a new All staff portal and occasional virtual “Town Hall” meetings with the CEO.

OCL is also in process of introducing a comprehensive “Speak up let’s listen” initiative to provide staff with a proactive route for getting their concerns and ideas heard.

ENGAGEMENT WITH SUPPLIERS, CUSTOMER AND OTHERS IN A BUSINESS RELATIONSHIP

The Development of a Code of Conduct has set standards and expectations for suppliers, outlining our vision and values so that they can help us to achieve our strategic objectives. Suppliers must ensure their supply chains are ethical, employees are paid a fair wage and that sustainable environmental practises are in place.

When selecting a partner, we not only evaluate cost and service but also social value – can this supplier help us to improve the communities around us, whether that be through benevolence, creating employment opportunities or reducing carbon footprint. Hub Councils within the OCL framework have allowed opportunities for parents to connect with academies.

Our aim is to form strong partnerships with a smaller number of suppliers. This offers better value for money and allows us to focus on quality and reliability of service. There is a hidden expense of searching for new suppliers and investing in long term agreements replaces cost with the benefits of a true partnership.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

We are committed to reducing our carbon footprint and reducing our impact on the environment. We have set a target of becoming a net zero educational organisation by 2030.

As part of our journey to becoming net zero, we partnered with Eden Sustainable to fit 5,000 solar panels onto an initial 13 Oasis Academies across 14 sites in phase one which has been completed. A second phase to this project has now been approved which will roll out solar panels in a further 30 academies in the next 18 months.

We have also switched 41 of our academies (80% of our schools) to Smartest Energy’s renewable electricity product. The 100% renewable electricity product has been independently certified by the Carbon Trust, meaning every megawatt hour of electricity supplied is matched with a UK-recognised origin certificate which are sourced from renewable generation projects including, wind, solar, water, thermal, and anaerobic digestion.

Page 14

OASIS CHARITABLE TRUST DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

As noted above we will be implementing LED lighting across our family of academies wherever they can be used. This will reduce overall electricity consumption by a minimum of 15%.

We have recruited a National Environmental Sustainability Lead and have staff at each academy driving further sustainability projects. In addition, education leads are embedding environmental sustainability within the Oasis curriculum, and work has begun on re-procuring our recycling and waste provider.

The following data presents the Greenhouse Gas and Energy use data for OCL.

UK Greenhouse gas emissions and energy use data for the period 1 September 2021 to 31 August 2022	2021/22	2020/21
Energy consumption used to calculate emissions(kWh) Gas Electricity Transport fuel Scope 1emissions inmetric tonnes CO2e Gas consumption Owned transport - mini-buses Total Scope 1 Scope 2emissions inmetric tonnes CO2e Purchased electricity Scope 3emissions inmetric tonnes CO2e Business travel in employee-owned vehicles Total gross emissions in metric tonnes CO2e Intensity ratioTonnes CO2e per pupil	32,987,434 3,529,310 454,982 6,022 22 6,044 682 112 6,838 0.22	35,592,317 6,101,226 422,264 6,519 21 6,540 1,295 133 7,969 0.29

Our methodologies for calculating these statistics are:

Quantification and reporting methodology - We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2021 UK Government's Conversion Factors for Company Reporting.

Minibus data - PSF Accounting software shows that we spent £12,232.97 on minibus diesel in this period. The average price of diesel was £1.6583 / litre for this period (https://www.theaa.com/drivingadvice/driving-costs/fuel-prices): £12,232.97 / £1.6583 =7,376.66 litres =1,622.64 Gallons (1 Gallon =4.54609l). Average economy =48.5 mpg (https://www.car-

emissions.com/cars/index/transit+17+seat+minibus).1,622.64 x 48.5 =78,690 miles.

Business Mileage - Business mileage taken directly from HR system detailing reimbursement from staff claims.

Page 15

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Gas and Electricity Usage - This has been extracted from our energy broker Zenergi's portal and then we used the GHG Reporting Protocol – Corporate Standard and have used the 2022 UK Government's Conversion Factors for Company Reporting.

For non-Zenergi academies (including PFI schools) we have been provided data directly from suppliers.

For the entire 2021/22 period we have contracted with Smartest Energy's 100% renewable energy plan and this is reflected this in our emissions data.

Our gas usage year on year has been down due to a warmer year.

Furthermore, our academies have also been involved in the Plant+ Finer Diner programme in partnership with our national catering contractor to promote plant-based eating. This programme aims to raise awareness of the significant impact that food contributes to climate change and is responsible for 60% of the global biodiversity loss. The initiative involved environmental ambassadors developing ideas to share with students and staff about changes they could make to be more environmentally friendly. These changes continue to be implemented across academies in conjunction with our catering contractor.

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The Directors (who are also trustees of Oasis Charitable Trust for the purposes of charity law) are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and the group for that period. In preparing these financial statements, the Directors are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments 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 charitable company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 16

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Financial statements are published on the company’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the company's website is the responsibility of the Directors. The Directors' responsibility also extends to the ongoing integrity of the financial statements contained therein.

AUDITOR

With regard to the preparation of this Annual Report and the financial statements, so far as each Director is aware, there is no relevant audit information of which the Company’s auditor is unaware and all steps have been taken by the Directors to make themselves aware of any relevant audit information and to establish that the Company’s auditor is aware of that information.

This annual report of the Directors under the Charities Act 2011 and Companies Act 2006 was approved by the Board on 23 March 2023 including in their capacity as Company Directors the strategic report contained therein and is signed as authorised on its behalf by:

M McAllister Chairman

Page 17

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF OASIS CHARITABLE TRUST

Opinion

We have audited the financial statements of Oasis Charitable Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 August 2022 which comprise the Consolidated Statement of Financial Activities (incorporating a Consolidated Income and Expenditure Account), Consolidated Balance Sheet, Company Balance Sheet, Consolidated and Company Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, 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 group’s and the parent charitable company’s affairs as at 31 August 2022 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006; and

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ 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 group’s or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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.

Page 18

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF OASIS CHARITABLE TRUST

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees (Directors’ report and Strategic report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees (Directors’ report and Strategic report) has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees (Directors’ report and Strategic report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

returns adequate for our audit have not been received from branches not visited by us; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors’ Responsibilities, the directors 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 directors 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 directors are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent 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

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.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the group. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the trustees and other management. The most significant were identified as the Companies Act 2006, the Charities Act 2011 and Charities SORP (FRS102) and, for OCL only, the Academies Accounts Direction 2021 to 2022 and the Academy Trust Handbook, issued by the ESFA.

Page 19

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF OASIS CHARITABLE TRUST

In addition, the group is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: the Education Act 2002, Academies Act 2010, Employment Law, Data Protection and Health and Safety Legislation. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of Those Charged with Governance (the trustees/directors) and other management and inspection of regulatory and legal correspondence, if any.

We also communicated relevant identified laws and regulations, potential fraud risks and that fact that there were no known matters of significant non-compliance with laws and regulations, to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We considered management’s incentives and opportunities for fraudulent manipulation of the financial statements (including revenue recognition and the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates.

Our audit procedures included, but were not limited to:

making enquires of management and trustees as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud;
for OCL, reviewing the work of the internal auditor;
obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
assessing the design effectiveness of the controls in place to prevent and detect fraud;
assessing the risk of management override including identifying and testing journal entries;
• challenging the assumptions and judgements made by management in its significant accounting estimates;
review of minutes of meetings of those charged with governance, and any relevant correspondence with Charity Commission, ESFA and HMRC.

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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.

Page 20

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF OASIS CHARITABLE TRUST

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Kevin Hodgetts (Senior Statutory Auditor) for and on behalf of Haines Watts Birmingham LLP 5-6 Greenfield Crescent Edgbaston Birmingham West Midlands B15 3BE

31 March 2023

Page 21

OASIS CHARITABLE TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating a Consolidated Income & Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2022

Notes INCOME FROM: Donations and grants 2 Trading and other 3 Investments – interest income Charitable activities 4 TOTAL EXPENDITURE ON: Raising funds 5 Fundraising trading costs 6 Charitable activities 7 TOTAL Net income/(expenditure) Transfers between funds Net gains on revaluation of fixed assets Actuarial gain/(loss) on defined benefit pension schemes Net movement in funds At 1 September 2021 At 31 August 2022	General £000 3,441 1,971 347 4,726 10,485 2,219 229 6,370 8,818 1,667 (778) 889 7,757 8,646	Designated £000 136 - - 393 529 - - 755 755 (226) 313 47 134 2,312 2,446	Designated £000 136 - - 393 529 - - 755 755 (226) 313 47 134 2,312 2,446	Restricted funds £000 11,646 1,611 - 226,319 239,576 - - 254,183 254,183 (14,607) 465 133,409 119,267 272,021 391,288	Total 2022 £000 15,223 3,582 347 231,438 250,590 2,219 229 261,308 263,756 (13,166) - 47 133,409 120,290 282,090 402,380	Total 2021 £000 19,524 2,900 32 215,812
						238,268
						952 200 237,881
						239,033
						(765) - 173 (11,474)
		134 2,312				(12,066) 294,156
		2,446				282,090

The notes on pages 26 to 58 form an integral part of these financial statements.

Page 22

OASIS CHARITABLE TRUST

COMPANY NUMBER: 02818823

CONSOLIDATED BALANCE SHEET

AS AT 31 AUGUST 2022

2022 £000 £000 376,813 25 16,183 57,479 73,687 (33,281) 40,406 417,219 (594) 416,625 (14,245) 402,380 8,646 2,446 11,092 391,288 402,380	2022 £000 £000 376,813 25 16,183 57,479 73,687 (33,281) 40,406 417,219 (594) 416,625 (14,245) 402,380 8,646 2,446 11,092 391,288 402,380	2021 £000 £000 379,501 58 16,447 47,470 63,975 (30,261) 33,714 413,215 (668) 412,547 (130,457) 282,090 7,757 2,312 10,069 272,021 282,090	2021 £000 £000 379,501 58 16,447 47,470 63,975 (30,261) 33,714 413,215 (668) 412,547 (130,457) 282,090 7,757 2,312 10,069 272,021 282,090
73,687 (33,281)		63,975 (30,261)

	417,219 (594)		413,215 (668)
	416,625 (14,245)		412,547 (130,457) 282,090
	402,380
	8,646 2,446		7,757 2,312
	11,092 391,288		10,069 272,021 282,090
	402,380

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2023

M McAllister Chairman

The notes on pages 26 to 58 form an integral part of these financial statements.

Page 23

OASIS CHARITABLE TRUST COMPANY NUMBER: 02818823

COMPANY BALANCE SHEET

AS AT 31 AUGUST 2021

Notes CURRENT ASSETS Debtors 14 Cash at bank and in hand CREDITORS: amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: amounts falling due after more than one year 16 NET ASSETS FUNDS Unrestricted funds General Designated Restricted funds	2022 £000 £000 301 545 846 (235) 611 611 - 611 239 146 385 226 611	2021 £000 £000 212 310 522 (232) 290 290 - 290 185 - 185 105 290

The result of the company for the year was a surplus of £320,568 (2021: surplus of £128,075).

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2023

M McAllister Chairman

The notes on pages 26 to 58 form an integral part of these financial statements.

Page 24

OASIS CHARITABLE TRUST

CONSOLIDATED AND COMPANY STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2021

Notes Cash flow statement Net cash (used in)/provided by operating activities 22 Net cash provided by/(used in) investing activities 22 Net cash used in financing activities 22 Net increase/(decrease) in cash in the year Reconciliation of net cash flow movements to net funds Net increase/(decrease) in cash in the year At 1 September 2021 At 31 August 2022 Consisting of: Cash and cash equivalents Bank loan 23	Company 2022 £000 235 - - 235 235 310 545 545 545	Group 2022 £000 15,131 (5,156) 16 9,991 9,991 47,445 57,436 57,479 (43) 57,436	Company 2021 £000 134 - - 134 134 176 310 310 - 310	Group 2021 £000 7,231 2,702 15
				9,948
				9,948 37,497
				47,445
				47,470 (25)
				47,445

The notes on pages 26 to 58 form an integral part of these financial statements.

Page 25

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Charity Information

Oasis Charitable Trust (OCT) is a company limited by guarantee incorporated in the United Kingdom, whose registered number is 02818823. It is also a registered charity, number 1026487. The registered office of OCT is 1, Kennington Road, London SE1 7QP. These financial statements are the consolidated financial statements for the year ended 30 August 2022 and are presented in pounds sterling (GBP) and are rounded to the nearest thousand pounds. The company is a public benefit entity as defined by Financial Reporting Standard 102 (FRS 102). The principal activities of the company and group are described in the Directors Report.

Accounting convention

The accounts (financial statements) have been prepared in accordance with the Charities SORP (FRS 102) applicable to charities preparing their accounts in accordance with FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

Basis of consolidation

The financial statements consolidate on a line-by-line basis the financial statements of Oasis Charitable Trust and its wholly owned subsidiary undertakings for the financial year ended 31 August 2022. On the basis of control, which is exercised through membership, it is appropriate to consolidate all companies within the OCT structure. To this end, OCT oversees all activities of all members of the group through defined and agreed internal processes of regular reporting to and monitoring by the OCT Board. This arrangement is laid out in our intragroup agreement which is signed and approved by all members of the group. In respect of Oasis Community Learning (OCL), a Multi-Academy Trust, OCT is the sponsoring body as requested by the ESFA when OCL was set up. OCT is the sole member of the Trust and has the power to appoint and remove Directors of OCL. Furthermore, if the Trust were to be wound up, any remaining property after settling all debts and liabilities would be transferred to the sponsoring body. Whilst is it understood that the ESFA have a reserved power, this power could only be exercised if it was preceded by warnings relating to known or suspected failures where OCT had not taken appropriate actions. As there have been no such circumstances either during the year or since the inception of the Trust, it is considered appropriate to consolidate OCL’s results with the Oasis Group.

Going concern

The Directors have considered the risks to the group, including the impact of Covid-19, and these include the ability for activities to be carried out. The going concern of each subsidiary within the group is reviewed independently. Subsidiaries’ reserves are typically restricted to their own objects and the requirements of their funders. As a result, they are required by the directors to demonstrate viability independently from the rest of the group. Each subsidiary has reviewed its going concern including the impact of Covid-19, and their statutory accounts include declarations. In carrying out these reviews, the Directors have considered the 12-month period from the date of signing these accounts (to March 2024) and consider that there is no material uncertainty in relation to going concern. Sufficient funds are held and there are no future material uncertainties relating to future income and therefore as a group we consider it is appropriate to adopt the going concern approach.

Page 26

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Going concern (continued)

The largest entity of the group, Oasis Community Learning, a multi-academy trust, has fully considered the impact of the Coronavirus pandemic on the organisation. The going concern status of the organisation has been assessed in the light of the following matters:

The company has Supplementary Funding Agreements with the Department for Education for all of the academies which provide legal certainty of the availability of public funds for at least 7 years;
There is a sustainable three-year plan in place and the 22/23 budget has factored in substantial costs in to cover operations throughout the pandemic should they be needed; and
The company has sufficient reserves and cash balances. These have been tested over a 2-year scenario where discretionary income sources collapse, student numbers reduce, and pandemic costs continue.

For these reasons, the company will continue to adopt the going concern basis in preparing the financial reports.

Grant funding for Oasis Community Housing has been confirmed and services are able to be delivered taking into account social distancing measures. For other entities in the group, the Directors have confirmed that the major sources of grant funding are committed. Covid-19 has not had an adverse effect on income streams, quite the opposite, as we have been able to directly serve communities most in need of support.

Forecasts and projections for each company within the group show that they will be able to operate within the levels of their operational cash flows, with reports and forecasts reviewed monthly and presented to finance committees every quarter. The directors are therefore able to make an assessment of the resources of the group as a whole, and these resources have been stress tested to gauge the potential impact on the group if the pandemic were to impact the activities on a longer-term basis.

Following this analysis, the Directors are confident that the group has adequate resources to continue operating for the foreseeable future, being a period of at least 12 months from the date of signing these financial statements and, for this reason, the Directors continue to adopt the going concern basis in preparing the accounts. Further details on going concern can be found in the Directors’ Report on page 9.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the directors in the furtherance of the charitable objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors and grant awarding bodies. The balance of each restricted fund is set out in note 19. Designated funds are funds which are set aside by the Directors for a set purpose.

Page 27

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Income

Income includes the total receivable by the Group from all its charitable activities. All income is recognised when the group has entitlement to the funds, receipt is probable and the amount can be measured with sufficient reliability.

Donations are recognised on a receivable basis (where there are no performance related conditions), where the receipt is probable and the amount can be reliably measured. Legacies are included in the year when entitlement is established and the value can be measured reliably. Entitlement to legacy income is considered to be on the earlier of the date of payment or where there is sufficient evidence to provide the necessary probability that the legacy will be received and the value is measurable with sufficient reliability. This is defined as the point when the executor has notified Oasis of probate.

Grants included within charitable activity income are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipts its recognition is deferred and included in creditors as deferred income. Where the entitlement occurs before income is received, the income is accrued.

The General Annual Grant in particular, which is received by OCL, is recognised in full in the year for which it is receivable and any unspent amount is reflected in the restricted fund. Any abatement in respect of the period is deducted from income and recognised as a liability. Capital grants are recognised when receivable and are not deferred over the life of the asset on which they are expended. Unspent amounts of capital grant are reflected in the balance in the restricted fixed asset fund.

Donated Services and Gifts in Kind received by Oasis Community Learning (OCL): The value of donated services and gifts in kind provided to the Group is recognised in the statement of financial activities as income and expenditure at their estimated value to the Group in the period in which they are receivable and where the benefit is both quantifiable and measurable. This is with the exception of where the gift in kind was a fixed asset in which case the expenditure element is included in the appropriate fixed asset category and depreciated over the useful life in accordance with the Company’s policies.

Other income, including the hire of facilities and the sale of goods and services, is recognised in the period it is receivable and to the extent that goods have been provided or on completion of the service and is included within other trading income.

Interest receivable is included within the statement of financial activities on a receivable basis and is included within income from investments.

Subsidiaries other than OCL, which has been described above, received donated services for a number of activities undertaken. No financial value is attributed to these services as the related activities would not be undertaken if they were not donated pro bono. No income has been included in the Statement of Financial Activities net of expenditure.

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.

Governance costs include the costs attributable to the Company’s compliance with constitutional and statutory requirements, including audit costs and are all allocated against restricted revenue activities.

Page 28

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Expenditure (continued)

Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable activities are costs incurred in furtherance of the charitable objectives of the group and includes directly attributable costs and support costs. For companies other than OCL, charitable activities are the costs incurred in carrying out the service delivery of, whether it is in the community hubs, housing projects, STT or OCT. For OCL, charitable activities are the costs incurred on the company’s educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Support costs are those costs incurred directly in support of the charitable activities and comprise the balance of all services supplied centrally not directly allocated to the operational departments.

Governance costs are included with expenditure in charitable activities and represent those costs incurred in connection with administration of the Group, management of the Group’s assets and compliance with constitutional and statutory requirements.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost, where they have been purchased by the Group, or at fair market value at the time of their coming into the possession of the Group, where they have been donated or acquired other than by purchase.

Where tangible fixed assets have been acquired with the aid of specific grants, either from the Government or from the private sector, they are included in the balance sheet at cost and depreciated over the expected useful economic life. The related grants are credited to a restricted fixed asset fund (in the statement of financial activities and carried forward in the balance sheet). The depreciation on such assets is charged in the statement of financial activities over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.

Assets in the course of construction are included at cost. Depreciation on these assets is not charged until they are brought into use.

A review of impairment of fixed assets is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments and charged to the Statement of Financial Activities.

The principal annual depreciation rates used for other assets have been revised during the year in line with the requirement for component accounting. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives on a straight line basis.

Freehold property	2% on cost less 99% residual value and 2%
	straight line
Leasehold land	Over the life of the lease
Leasehold buildings (and components therein)	16 to 100 years
Plant & machinery	10%
Furniture, equipment and vehicles	10% and 25%
Computer equipment & software	33%

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Page 29

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Creditors

Creditors and provisions are recognised where the charity has a present obligation as a result of a past event that will result in the transfer of funds, and the amount can be reliably measured. Trade and other creditors are recognised at transaction price and subsequently revalued and amortised where necessary.

Deferred income

When income is received in advance of entitlement of receipts, for example fees in respect of certain training projects or grants received, its recognition is deferred and included in creditors as deferred income.

Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Transfer of property on conversion

The Assets and Liabilities transferred from Local Authorities to OCL trust have been valued at their fair value, being a reasonable estimate of the current market value that the Directors would expect to pay in an open market for an equivalent item. Their fair value is determined in accordance with the accounting policies set out for OCL. The amounts have been recognised under the appropriate balance sheet categories, with a corresponding amount recognised in the Statement of Financial Activities (cash reserves brought in as unrestricted funds and the donated tangible fixed assets as restricted fixed asset funds).

Taxation

Oasis Charitable Trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2011 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Pension Benefits

Oasis Charitable Trust operates a defined contribution pension scheme for employees. The annual contributions payable are charged to the Statement of Financial Activities. Employees of Oasis Community Learning are members of one of two pension schemes, both of which are defined benefit schemes: the Teachers’ Pension Scheme and the Local Government Pension Scheme.

Teachers’ Pension Scheme

Full-time and part-time teaching employees employed under a contract of service are eligible to contribute to the Teachers’ Pension Scheme (TPS). The TPS, a statutory contributory final salary scheme, is administered by Capita.

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the academy trust in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quinquennial valuations using a prospective benefit method. As stated in Note 29, the TPS is a multi-employer scheme and the academy trust is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. The TPS is therefore treated as a defined contribution scheme and contributions recognised as they are paid in each year.

Page 30

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Local Government Pension Scheme

Non-teaching members of staff are offered membership of the Local Government Pension Scheme (LGPS). The LGPS is a multi-employer defined benefit pension scheme and is able to identify the Company’s share of assets and liabilities and the requirements of FRS 102, Section 28 have been followed.

The LGPS is a funded scheme and the assets are held separately from those in the academy in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs.

Past service costs are recognised immediately in the Statement of Financial Activities if the benefits have vested. If the benefits have not vested immediately, the costs are recognised over the period until vesting occurs. The expected return on assets and the interest cost are shown as a net finance amount of other finance costs or credits adjacent to interest. Actuarial gains and losses are recognised immediately in other gains and losses.

The Company’s share of the LGPS assets is measured at fair value at each balance sheet date. Liabilities are measured on an actuarial basis using the projected unit method. The net of these two figures is recognised as an asset or liability on the balance sheet. Any movement in the asset or liability between balance sheet dates is reflected in the Statement of Financial Activities.

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the SOFA on a straight line basis over the lease term.

Stock

Stock is stated at the lower of cost and net realisable value and relates to unissued uniforms and IT equipment held by OCL.

PFI

Oasis Community Learning has five academies that are subject to contracts under the Private Finance Initiative (PFI). Under these contracts the school premises are maintained and managed for a period of up to 25 years by the PFI contractor subject to contractual annual fees paid by the academy. Upon expiry of the PFI contract the residual benefit of the premises passes to the academy as a result of a 125-year lease granted to them.

This transaction is accounted for as a leasing transaction. As the Academy only enjoys the benefit of the premises subject to the restrictions under the PFI agreement, in the opinion of the Board, the Academy does not hold substantially all of the risks and rewards of ownership of the premises and the property is therefore accounted for as an operating lease. The premises are therefore not recognised as assets in the financial statements of OCL. The annual charges under the PFI agreement are subject to a fixed formula but will vary over time. Therefore the annual charges are expensed to the Statement of Financial Activities in the year they relate to as this treatment is considered to be more appropriate than recognition on a strict straight line basis.

Agency Arrangements

OCL acts as an agent in distributing 16-19 bursary funds from ESFA. Payments received from ESFA and subsequent disbursements to students are excluded from the Statement of Financial Activities as the Company does not have control over the charitable application of the funds. OCL can use up to 5% of the allocation towards its own administration costs and this is recognised in the Statement of Financial Activities.

Page 31

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described in the accounting policies and are summarised below:

Pension liabilities – The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 29, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2019 has been used by the actuary in valuing the pensions liability at 31 August 2022. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.
Consolidation of OCL – As noted within the basis of consolidation accounting policy, OCT oversees the activities of all members of the group through defined and agreed internal processes of regular reporting to and monitoring by the OCT Board in accordance with the intragroup agreement. However, the ESFA has reserved powers over the Multi-Academy Trust and therefore the consolidation of OCL into OCT is a key judgement. The appropriateness of the consolidation of OCL has been based on the fact that, in order to exercise their powers, the ESFA must precede any action with warnings relating to known or suspected failures where OCT had not taken appropriate actions. As there have been no circumstances under which OCL has received warnings from the ESFA, either in the year or historically, the Directors consider that OCT continues to exercise control over OCL and therefore that it is appropriate for the results of OCL to be consolidated into these financial statements.
Valuation of land and buildings – The charity’s land and buildings are stated at their estimated fair value on acquisition based on professional valuations. These valuations are then taken as deemed cost as disclosed in note 13.
Donated Services and Gifts in Kind: The value of donated services and gifts in kind provided to the Company is recognised in the statement of financial activities as incoming resources and resources expended at their estimated value to the Company in the period in which they are receivable and where the benefit is both quantifiable and measurable. This is with the exception of where the gift in kind was a fixed asset in which case the amount is included in the appropriate fixed asset category and depreciated over the useful life in accordance with policy.

Financial instruments

Oasis Charitable Trust has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors.

Page 32

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2. DONATIONS AND GRANTS

Donations and gifts Grants Furlough grant income	Unrestricted funds £000 2,332 1,109 - 3,441	Designated funds £000 - 136 - 136	Restricted funds £000 432 11,214 - 11,646	Total 2022 £000 2,764 12,459 - 15,223	Total 2021 £000 2,634 16,800 90 19,524

Of the £19,524k received in the prior year, £2,791k was unrestricted income, £172k was designated income and £16,561k was restricted income.

3. OTHER TRADING

Rent and associated services income Merchandise sales	Unrestricted funds £000 1,971 - 1,971	Designated funds £000 - - -	Restricted funds £000 1,611 - 1,611	Total 2022 £000 3,582 - 3,582	Total 2021 £000 2,899 1
					2,900

Of the £2,900k received in the prior year, £778k was unrestricted income and £2,122k was restricted income.

4. INCOME FROM CHARITABLE ACTIVITIES

Fees from nursery provision Rental income Service level agreements Educational operations (see breakdown below) Other goods and services	Unrestricted funds £000 - 1,976 1,346 - 1,404 4,726	Designated funds £000 216 - - - 177 393	Restricted funds £000 - 21 103 225,525 670 226,319	Total 2022 £000 216 1,997 1,449 225,525 2,251 231,438	Total 2021 £000 139 2,014 1,793 210,284 1,582 215,812

Of the total income of £215,812k received in the prior year, £4,932k was unrestricted income, £177k was designated and £210,703k was restricted income.

Page 33

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

4. INCOME FROM CHARITABLE ACTIVITIES (continued)

Funding for educational operations has been received from the following sources:

DfE/ESFA Grants General Annual Grant Start-up Grants Other DfE ESFA Grants: UIFSM Pupil Premium Others COVID-19 additional funding (DFE/ESFA) Catch-up premium Other (DfE/ESFA) COVID-19 funding Other Government Grants Local Authority Grants Special Educational Grants And Projects COVID-19 additional funding (Non- DFE/ESFA) Coronavirus job retention scheme grant Other COVID-19 funding Other Income Catering income	Unrestricted Funds £’000 - - - - - - - - - - - - - - -	Restricted Funds £’000 187,802 150 1,154 15,688 1,201 1,967 1,874 209,836 12,646 357 - 264 13,267 2,422 225,525	Total 2022 £’000 187,802 150 1,154 15,688 1,201 1,967 1,874 209,836 12,646 357 - 264 13,267 2,422 225,525	Total 2021 £’000 170,609 99 1,244 14,629 7,571 1,809 1,354
				197,315
				10,744 266 213 202
				11,425
				1,544
				210,284

Page 34

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

5. EXPENDITURE ON RAISING FUNDS

Income generation Communication	Unrestricted funds £000 1,664 555 2,219	Designated funds £000 - - -	Restricted funds £000 - - -	Total 2022 £000 1,664 555 2,219	Total 2021 £000 714 238 952

The £952k of expenditure on raising funds in the prior year was all unrestricted expenditure.

Cost of raising funds analysis

Income generation Communication	Staff costs £000 512 171 683	Other direct costs £000 578 192 770	Premises costs £000 252 84 336	Support costs £000 322 108 430	Total 2022 £000 1,664 555 2,219	Total 2021 £000 714 238 952

6. FUNDRAISING TRADING COSTS

Trading subsidiaries costs	Unrestricted funds £000 229	Designated funds £000 -	Restricted funds £000 -	Total 2022 £000 229	Total 2021 £000 200

The £200k expenditure on fundraising trading costs in the prior year was unrestricted.

Page 35

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

7. DIRECT CHARITABLE EXPENDITURE

Oasis Charitable Trust Oasis International Association Oasis Community Learning Oasis IT Services Stop the Traffik Traffik Analysis Hub Oasis Community Housing Oasis Community Partnerships	Unrestricted funds £000 1,080 5 - 287 692 426 2,732 1,148 6,370	Designated Funds £000 - - - - 178 - 125 452 755	Restricted funds £000 976 193 248,930 - 278 - 1,272 2,534 254,183	Total 2022 £000 2,056 198 248,930 287 1,148 426 4,129 4,134 261,308	Total 2021 £000 1,378 186 226,455 901 772 173 4,184 3,832 237,881

Of the £237,881k direct charitable expenditure in the prior year, £6,303k was unrestricted, £591k designated and £230,987k restricted.

Charitable expenditure analysis

Oasis Charitable Trust Oasis International Association Oasis Community Learning Oasis IT Services Stop the Traffik Traffik Analysis Hub Oasis Community Housing Oasis Community Partnerships	Staff costs £000 1,003 - 133,339 - 937 154 2,332 2,560 140,325	Other direct costs £000 863 198 11,711 287 93 272 1,049 1,241 15,714	Premises costs £000 32 - 21,066 - 12 - 50 223 21,383	Support costs £000 158 - 82,814 - 106 - 698 110 83,886	Total 2022 £000 2,056 198 248,930 287 1,148 426 4,129 4,134 261,308	Total 2021 £000 1,378 186 226,455 901 772 173 4,184 3,832 237,881

Page 36

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8. SUPPORT COSTS ALLOCATION Staff Other £000 £000 Cost of raising funds Fundraising & Marketing 284 38 Communications 95 13 379 51 Charitable activities Oasis Charitable Trust 122 7 Oasis International Association - - Oasis Community Learning 52,093 30,526 Oasis IT Services - - Stop the Traffik 47 51 Traffik Analysis Hub - - Oasis Community Housing 331 309 Oasis Community Partnership 56 51 52,649 30,944 9. GOVERNANCE Remuneration paid to Group auditor: Parent audit fees Subsidiaries audit fees Non-audit services Remuneration paid to subsidiary company auditors Audit fees Non-audit services Legal fees Trustees indemnity insurance Other costs	Governance £000 - - - 29 - 195 - 8 - 58 3 293	Total 2022 £000 322 108 430 158 - 82,814 - 106 - 698 110 83,886 Total 2022 £000 29 62 19 43 - 115 5 20 293	Total 2021 £000 331 110 441 188 4 74,227 2 85 2 710 130 75,348 Total 2021 £000 48 75 48 35 - 146 5 45 402

Page 37

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

10. STAFF COSTS (GROUP)

Wages and salaries Social security costs Pension costs Total staff costs	2022 £000 131,219 13,665 41,957 186,841	2021 £000 125,414 12,901 36,562
		174,877

The pension costs above include £41,552,000 (2021: £36,216,000) for the Oasis Community Learning defined benefit schemes and £405,000 (2021: £346,000) for the defined contribution scheme which is operated by Oasis Charitable Trust and includes non-Oasis Community Learning staff. Pension costs were split between unrestricted and restricted funds depending on the specific fund the individual worked on.

Included in staff emoluments are staff restructuring costs:

cluded in staff emoluments are staff restructuring costs:
Redundancy payments Severance payments	2022 2021 £000 £000 148 396 76 227
	224 623

Included in staff restructuring costs are non-statutory/non-contractual severance payments totalling £65,413 (2021: £52,130). Individually these were for £24,825, £17,500, £14,091, £6,997 and £2,000. At year end there were no redundancy or termination payments outstanding.

Apprenticeship levy is expensed during the year in which it is incurred and is included within social security costs above.

Staff numbers

Teachers Academies non-teaching staff Charitable activities Fund generating activities Central Management and support	2022 No. 1,748 2,463 235 8 190 4,644	2021 No. 1,795 2,522 197 5 176
		4,695

These numbers represent the average number of persons employed within the group during the year.

Page 38

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

10. STAFF COSTS (GROUP) (continued)

Higher paid staff

The number of employees whose emoluments exceeded £60,000 was:

	2022	2021
£60,001 - £70,000	105	93
£70,001 - £80,000	35	24
£80,001 - £90,000	17	13
£90,001 - £100,000	20	23
£100,001-£110,000	8	-
£110,001-£120,000	3	8
£120,001-£130,000	8	5
£130,001-£140,000	3	5
£140,001-£150,000	2	3
£150,001-£160,000	1	-
£230,001-£240,000	-	1
£240,001-£250,000	1	-

144 (2021: 131) of the above employees earning more than £60,000 per annum participated in the Teachers’ Pension Scheme. During the year 31 August 2022 pension contributions for these staff amounted to £2,579,815 (2021: £2,412,231).

49 (2021: 35) of the above employees earning more than £60,000 per annum participated in the Local Government Pension Scheme. During the year ended 31 August 2022 pension contributions for these staff amounted to £697,992 (2021: £523,174). 1 staff member paid into both schemes.

The key management personnel of the group comprise the trustees, Chief Executives and the Senior Management Leadership Team. The total employee benefits of the key management personnel for the Group were £3,022,882 (2021: £2,887,101). The prior year comparative for OCL has been updated to include employer’s national insurance and pension contributions.

11. TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

Neither the Directors nor any persons connected with them have received remuneration for their services as trustees of the Group. 9 (2021: 5) Directors were reimbursed for travel and subsistence of £2,254 (2021: £215) during the year.

During the year the Group paid professional indemnity insurance on behalf of the Directors amounting to £5,000 (2021: £5,000).

Page 39

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

12. NET MOVEMENT IN FUNDS

NET	MOVEMENT IN FUNDS
		2022	2021
		£000	£000
Net	movement in funds is arrived at after charging:
Depreciation of fixed assets		8,223	8,485
Auditors’ remuneration:
-	Audit fees for this year (parent)	31	48
-	Audit fees for this year (subsidiaries)	105	110
-	Professional fees for non-audit	19	48
-	Fees payable to Responsible Officer and actuaries (OCL)	-	-
Operating Leases:
-	Plant and machinery	56	89
-	Other Leases	6,555	4,927
Interest payable on bank loan		16	15

13. TANGIBLE FIXED ASSETS

Group Cost At 1 September 2021 Additions Revaluations Disposals At 31 August 2022 Depreciation At 1 September 2021 Charge for the year Impairment/(revaluation) On disposals/transfers At 31 August 2022 Net book value At 1 September 2021 At 31 August 2022	Freehold Property and Improvements £000 2,268 11 (103) - 2,176 172 43 (128) - 87 2,096 2,089	Leasehold Land and Buildings £000 468,592 3,576 (177) (1) 471,990 102,696 5,095 (184) (1) 107,606 365,896 364,384	Computer Equipment £000 7,324 666 - (1,134) 6,856 3,732 1,736 - (1,134) 4,334 3,592 2,522	Furniture and Motor Vehicles £000 14,336 1,250 - (202) 15,384 6,419 1,349 - (202) 7,566 7,917 7,818	Total £000 492,520 5,503 (280) (1,337)
					496,406
					113,019 8,223 (312) (1,337)
					119,593
					379,501
					376,813

There were no transactions requiring disclosure as per section 3.1.2 of the Academy Trust Handbook.

Page 40

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

14. DEBTORS

Trade debtors Sundry debtors Due from group undertakings Prepayments and accrued income	Company 2022 £000 234 16 33 18 301	Group 2022 £000 3,297 2,676 - 10,210 16,183	Company 2021 £000 157 28 27 - 212	Group 2021 £000 2,356 2,230 - 11,861
				16,447

15. CREDITORS: amounts falling due within one year

Bank loan Trade creditors Owed to group undertakings Other taxes and social security costs Accruals and deferred income Other creditors Deferred Income including above At 1 September Resources deferred in the year Amounts released in year Deferred income at 31 August	Company 2022 £000 - 74 26 - - 135 235 10 - (10) -	Group 2022 £000 43 11,339 - 3,082 13,727 5,090 33,281 3,846 5,215 (3,846) 5,215	Company 2021 £000 - 63 54 - 10 105 232 10 10 (10) 10	Group 2021 £000 25 11,246 - 2,928 11,566 4,496
				30,261
				3,092 3,846 (3,092)
				3,846

£4,791k of the deferred income above relates to OCL. OCL was holding funds received in advance for rates rebates, academy growth, recovery and tutoring funding, early years and two-year-old provision funding, trip and project income for established academies.

Deferred income relates to income received from donors and sponsors which is subject to conditions which prevent their use until a later date.

Included in other creditors are loans of £35,000. A total of £26,000 is in respect of 0% loans from Salix, taken in 2015 over a period of 10 years for energy efficiency improvements on properties; and £9,000 are 0% Salix loans for the same use but inherited on conversion with Oasis Academy Sholing in 2018, also maturing in 2025/26. Loan repayments are made every six months by way of deduction from monthly GAG payments issued by the ESFA.

Page 41

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

16. CREDITORS: amounts falling due after one year

Company 2022 £000 Bank loans - Other creditors - - Pension scheme liability (Note 29) - Amounts falling due in more than five years: Company 2022 £000 Repayable by instalments: Bank loans more than 5 years by instalments - -	Group 2022 £000 535 59 594 14,245 Group 2022 £000 363 363	Company 2021 £000 - - - - Company 2021 £000 - -	Group 2021 £000 575 93
			668
			130,457
			Group 2021 £000 476
			476

The bank loans are secured by way of a legal charge over the property portfolio of OAH. The terms of repayment are 25 years and interest is payable at 2.25% above base rate on the principal amount. Final repayment will be 16 December 2041.

Other creditors represent amounts due after one year are in respect of 0% Salix loans as detailed in note 15 above. Of the £59,000 balance, £34,000 is in respect of 10 years loans taken by OCL for energy efficiency improvements on properties; and £25,000 are 0% Salix loans for the same use but inherited on conversion with Oasis Academy Sholing in 2018, also maturing in 2025/26.

17. COMPANY STATUS

The Company is a private company limited by guarantee and does not have a share capital. It is incorporated in England and Wales and is a public benefit entity. The address of the registered office is 1 Kennington Road, London, SE1 7QP.

18. UNRESTRICTED FUNDS (Group)

General Funds: At 1 September Net movement in general funds At 31 August Designated Funds: At 1 September Net movement in designated funds At 31 August General Designated	2022 £000 7,757 889 8,646 2,312 134 2,446 8,646 2,446 11,092	2021 £000 5,708 2,049
		7,757
		2,281 31
		2,312
		7,757 2,312
		10,069

Page 42

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18. UNRESTRICTED FUNDS (Group)

Designated funds are held within two subsidiaries: OCP and OAH. The designated funds within OCP relate to the fund held in Mulberry Bush which is for the provision of the nursery within the hub and designated Hub Leader and employment costs within OCP. This fund is designated within OCP.

The designated funds within OAH relate to the property fund, revaluation reserve, property development fund, refurbishment fund, maintenance fund, systems upgrade fund and housing management fund.

Transfer between funds are:

Oasis Community Learning Oasis Charitable Trust Oasis Community Partnerships Oasis International Association Oasis Community Housing	Unrestricted Funds General Designated 2022 2022 £000 £000 (595) - (189) 145 33 135 6 - (33) 33 (778) 313	Restricted Funds 2022 £000 595 44 (168) (6) - 465	Total 2022 £000 - - - - - -	Total 2021 £000 - - - - -
				-

The OCL transfer of £595,000 is a transfer from restricted asset funds.

The £189,000 transfer from unrestricted in OCT relate to a few designated funds and covering a deficit on a restricted project within Health & Justice.

The transfers in OCP relate to various hubs and is for hub leader costs within unrestricted and restricted projects. Transfers from restricted funds to unrestricted funds relate to the allocation of management charges from restricted projects.

The transfer in OIA to unrestricted funds relates to the redistribution of funds to support the management of restricted funds.

The transfer in OAH to designated funds relates to the allocation of properties which were held for sale and loan repayments.

19. RESTRICTED FUNDS (Group)

Oasis Charitable Trust Oasis International Assoc. OCL OCL Pension Fund Stop the Traffik Campaign Oasis Community Housing Oasis Community Partnerships	1 Sept 2021 £000 105 14 400,246 (130,457) 68 545 1,500 272,021	Income £000 1,054 205 233,980 - 291 1,180 2,866 239,576	Expenditure £000 (977) (193) (231,585) (17,197) (278) (1,272) (2,681) (254,183)	Gains, (Losses), Transfers £000 44 (6) 595 133,409 - - (168) 133,874	31 Aug 2022 £000 226 20 403,236 (14,245) 81 453 1,517
					391,288

Page 43

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

19. RESTRICTED FUNDS (Group)

The tables below give a detailed breakdown of OCL’s restricted funds, which represent the majority of funds of the group.

Restricted general funds General Annual Grant (GAG) UIFSM Pupil Premium Other restricted income Pension reserve Restricted fixed asset funds Building Sinking Fund from GAG ICT Capital Grants DfE/ESFA Capital Grants Local Authority Capital Grants Designated Capital from GAG DfE Capital Grants and donations in kind Private Capital Sponsorship Total Restricted Funds Unrestricted Funds Total Funds	Balance at 1 September 2021 £’000 9,938 - - (42) (130,457) (120,561) 4,784 781 8,161 - 1,020 375,104 308 390,158 269,597 6,073 275,670	Incoming resources £’000 210,055 1,154 15,687 240 - 227,136 - - 6,851 (7) - - - 6,844 233,980 3,548 237,528	Resources expended £’000 (201,850) (1,154) (15,687) (309) (17,197) (236,197) - - (4,124) 7 (623) (8,168) - (12,908) (249,105) (2,196) (251,301)	Gains, losses and transfers £’000 (3,093) - - 95 133,409 130,411 (505) (19) (1,021) - (342) 5,480 - 3,593 134,004 (595) 133,409	Balance 31 August 2022 £’000 15,050 - - (16) (14,245)
					789
					4,279 762 9,867 - 55 372,416 308
					387,687
					388,476 6,830
					395,306

Under the funding agreement with the Secretary of State, the company was not subject to limits on the amount of GAG that it could carry forward at 31 August 2022.

Other Restricted Funds

Other restricted funds are in respect of grants and respective expenditure for Community based projects.

DfE/ESFA Capital Grants

DfE/ESFA Capital Income received during the year totalled £6,844,000 including £4,266,000 from the School Condition Allocation and a further £2,482,000 in respect of developments on Oasis Academy Clarksfield (£1,603k), the final phase of the new build for Oasis Academy Silvertown (£536k) and other smaller LA funded projects (£343k). Funds going unspent at the year-end were predominantly in respect of School Condition Allocation, which is being spent over the next year in a series of major improvement programmes spread throughout the country.

Page 44

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

19. RESTRICTED FUNDS (Group) (continued)

Local Authority Capital Grants

These grants relate mainly to new academy furniture, fixtures and equipment funded by Local Authorities.

DfE Capital Grants and donations in kind and Private Capital Sponsorship These funds represent provision for future depreciation for assets, purchased. Each year they are increased by the value of fixed assets purchased or donated and decreased by the value of that year’s depreciation. The transfers in represent fixed assets purchased from ACMF, DFCG, ICT Capital Grants, and Sinking Fund from GAG or Designated Capital from GAG during the year.

20. RESTRICTED AND UNRESTRICTED FUNDS (Charity)

Funds at 31 August 2022 Unrestricted funds Designated funds Restricted funds Funds at 31 August 2021 Unrestricted funds Restricted funds	Balance at 1 September 2021 £’000 185 - 105 290 Balance at 1 September 2020 £’000 162 - 162	Incoming resources £’000 1,365 1,054 2,419 Incoming resources £’000 627 516 1,143	Resources expended £’000 (1,121) (977) (2,098) Resources expended £’000 (549) (466) (1,015)	Gains, losses and transfers £’000 (190) 146 44 - Gains, losses and transfers £’000 (55) 55 -	Balance 31 August 2022 £’000 239 146 226
					611
					Balance 31 August 2021 £’000 185 105
					290

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS - GROUP

2022

Tangible fixed assets Current assets Current liabilities Long term liabilities	Unrestricted funds Designated funds Restricted funds Total funds 2022 2022 2022 2022 £ £ £ £ 520 1,980 374,313 376,813 10,061 469 63,157 73,687 (1,400) (3) (31,878) (33,281) (535) - (14,304) (14,839) 8,646 2,446 391,288 402,380

Page 45

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS – GROUP (Continued)

Unrestricted funds Designated funds 2021 2021 £ £ 483 2,024 9,118 291 (1,269) (3) (575) -	Unrestricted funds Designated funds 2021 2021 £ £ 483 2,024 9,118 291 (1,269) (3) (575) -	Unrestricted funds Designated funds 2021 2021 £ £ 483 2,024 9,118 291 (1,269) (3) (575) -	Restricted funds 2021 £ 376,994 54,566 (28,989) (130,550)
7,757		2,312	272,021
	Company 2022 £000 321 - - - - - (89) 3 235 - - - -	Group 2022 £000 (13,166) 8,223 - (347) 17,197 33 264 2,927 15,131 347 (5,503) - -	Company 2021 £000 128 - - - - - (73) 79 134 - - -
	- - - -	(5,156) - 16 16	- - - -

Page 46

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

23. ANALYSIS OF CHANGES IN NET DEBT

Cash and cash equivalents Debt within 1 year Debt due after 1 year Total	1 Sep 2021 £000 47,470 (25) 47,445 (668) 46,777	Cash flows £000 10,009 (18) 9,991 - 9,991	Non-cash movements £000 - - - 74 74	31 August 2022 £000 57,479 (43)
				57,436 (594)
				56,842

24. CAPITAL COMMITMENTS

OCL has contractual capital commitments at the 31 August 2022 of £1,588,381 (2021: £3,335,368). The decrease in commitments reflects the increased programme during 2021/22 to catch-up on delayed property and ICT developments in the previous financial year.

25. FINANCIAL COMMITMENTS

The following financial commitments exist for OCL and OAH. No other group companies have entered into any financial commitments at the balance sheet date.

Operating Leases – Oasis Community Learning

At 31 August 2022 the total of the company’s future minimum lease payments under non-cancellable operating leases was:

Amounts due within one year Amounts due within two to five years Amounts due in over five years	2022 £’000 1,889 1,212 - 3,101	2021 £’000 1,939 3,124 -
		5,063

Private Finance Initiative

At 31 August 2022 the total of the Company’s future commitments under private finance initiative arrangements was:

Amounts due within one year Amounts due within two to five years Amounts due in over five years	2022 £’000 4,720 17,705 33,407 55,832	2021 £’000 4,344 16,741 34,884
		55,969

Page 47

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

Operating Leases – Oasis Aquila Housing Ltd

The future minimum lease payments under non-cancellable operating leases are as follows;

Expiring within one year Expiring within two to five years	2022 £000 5 - 5	2021 £000 5 5
		10

26. CONTINGENT LIABILITY

There are no contingent liabilities to report for the year ended 31 August 2022 or for the previous year ended 31 August 2021.

27. MEMBERS LIABILITY

Every member of the Company undertakes to contribute such amount as may be required (not exceeding £10) to the Company’s assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member, for the payment of the Company’s debts and liabilities before he or she ceases to be a member, and of costs, charges and expenses of winding up, and for the adjustment of the rights of contributories amongst themselves.

Page 48

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

28. SUBSIDIARY SUMMARY

The following subsidiaries are wholly-owned UK charitable companies limited by guarantee and the principal place of business for all companies is 1 Kennington Road, London, SE1 7QP. OCT has the power to appoint and remove trustees from the Board of each of these subsidiaries. Further detail is provided in the basis of consolidation accounting policy in note 1. The results disclosed for Oasis Community Partnerships are consolidated and include the results of all its subsidiaries.

	Total	Total	Net	Total	Total	Net Assets/
	Income	Expenditure	Surplus/	Assets	Liabilities	(Liabilities)
			(Deficit)
	£000	£000	£000	£000	£000	£000
Oasis Charitable Trust (company
number: 02818823 charity
number: 1026487)	2,419	(2,098)	321	846	(235)	611
Oasis Community Learning
(company number: 5398529)	370,937	(251,301)	119,636	441,535	(46,229)	395,306
STOP THE TRAFFIK (company
number: 6657145, charity
number: 1127321)	1,388	(1,230)	158	798	(80)	718
Traffik Analysis Hub (company
number:114511182, charity
number: 1192933)	519	(429)	90	349	(184)	165
Oasis Aquila Housing (company
number: 05300083, charity
number: 1107554)	4,317	(4,395)	(78)	3,957	(950)	3,007
Oasis Community Partnerships
(company number: 08749179,
charity number: 1163889) –
consolidated results	4,524	(4,374)	150	2,910	(411)	2,499
Oasis IT Services Limited
(company number: 05720249)	308	(287)	21	325	(271)	54

Page 49

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

28. SUBSIDIARY SUMMARY (continued)

OCP Subsidiaries

The results of OCP consolidate the following subsidiaries which were subject to audit:

The Mulberry Bush (Coulsdon) Limited (Co No. 03902995, Charity No. 1084590) Oasis Community Hub Bath (Co No. 07236345, Charity No. 1138904) Oasis Community Hub Hadley (Co No. 07236762, Charity No. 1138871) Oasis Community Hub Oldham (Co No. 07356565, Charity No. 1138862) Oasis Community Hub Waterloo (Co No. 07237305, Charity No. 1136965) Oasis Lord’s Hill (Co No. 07236269, Charity No. 1138872)

Audit Exemptions

A number of OCP’s subsidiaries are exempt from the requirements of the Companies Act 2006 relating to the audit of their individual accounts under section 479A of the Companies Act 2006 relating to subsidiary companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The companies below (which are all charities), have been independently examined:

Oasis Community Hub: Ashburton Park (Co No. 07237600, Charity No. 1138901) Oasis Community Hub Blakenhale (Co No. 11946520, Charity No. 1183904) Oasis Community Hub Foundry & Boulton (Co No. 10581583, Charity No.1172915) Oasis Community Hub Henderson Avenue (Co No. 07237011, Charity No. 1137025) Oasis Community Hub Hobmoor (Co No. 10615979, Charity No.1172925) Oasis Community Hub Lister Park (Co No. 11218178, Charity No. 1181974) Oasis Community Hub Mayfield (Co No. 07237014, Charity No. 1138867) Oasis Community Hub MediaCityUK (Co No. 07237013, Charity No. 1136924) Oasis Community Hub North Bristol (Co No. 07237012, Charity No. 1136930) Oasis Community Hub Short Heath (Co No. 12242308, Charity No. 1186690) Oasis Community Hub South Bristol (Co No. 07236795, Charity No. 1138870) Oasis Community Hub Wintringham (Co No. 07237722, Charity No. 1138869) Oasis Community Hub Warndon (Co No. 12515168, Charity No. 1189489) Oasis UK Trading Ltd (Co No. 05857759)

Oasis UK Trading Limited is a UK private company limited by shares with £1 of ordinary share capital which is owned by OCP. All other subsidiaries of OCP are UK private companies limited by guarantee and are also registered charities. The registered address of all OCP subsidiaries is 1 Kennington Road, London, SE1 7QP.

29. RELATED PARTY TRANSACTIONS

During the year OCT made the following transactions with its subsidiaries:

Cross charged to Oasis Community Learning:
Shared Staff £409,046 (2021: £276,129) support and administrative staff, governance and chaplaincy.
Office space (rent and facilities) £1,185 (2021: £2,925).

29. RELATED PARTY TRANSACTIONS (Continued)

Page 50

OASIS CHARITABLE TRUST

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

Cross-charged from Oasis Community Learning:
Shared Staff £314,311 (2021: £271,264) including a portion for senior management, community hub and Secure School support working.
Office space (rent and facilities) £18,123 (2021: £27,895).
IT infrastructure £42,185 (2021: £52,503).

At year end a balance of £25,836 (2021: £36,048) was owed by OCT to OCL.

Cross charged to STOP THE TRAFFIK: Support for Finance, HR, Governance and Office Costs £36,468 (2021: £37,266).

At year end a balance of £1,065 (2021: £548) was owed by STT to OCT.

Cross charged to Oasis Community Partnerships: Support for Fundraising and Comms £nil (2021: £54,540). Support for Finance and HR £240,514 (2021: £203,976). At year end £2,074 (2021: £18,116) was owed to OCT from OCP.
At year end £19,257 (2021: £17,038) was owed to OCT from OAH.

Recharges listed above between Oasis Charitable Trust and Oasis Community Learning were made on a cost sharing basis.

Within OCL the following related party transactions were declared:

During the year the wife of John Barneby (Chief Operating Officer) and the wife of Craig Dean (Company Director/ Trustee) were both employed by OCL. Their employment contracts are on-going from previous years and remuneration for both roles were agreed through the National Pay Committee independently of any influence from their spouse.

Owing to the nature of the company and the composition of the board of trustees being drawn from local public and private sector organisations, transactions may take place with organisations in which the directors have an interest. All transactions involving such organisations are conducted in accordance with the requirements of the Academies Financial Handbook, including notifying the ESFA of all transactions made on or after 1 April 2019 and obtaining their approval where required, and with the company’s financial regulations and normal procurement procedures relating to connected and related party transactions. The following related party transactions took place in the financial period:

Place2Be – is a registered charity and company limited by guarantee whose mission is to improve children and young people’s mental health. Our CEO John Murphy joined the board of trustees on 23[rd] April 2021, our relationship with Place2Be started many years before this.

During the year ended 31 August 2022 the company paid £105,826 (2020/21: £180,810) to Place2Be for the provision of mental health support workers including targeted counselling for children experiencing emotional difficulties in several of our academies.

The Tutor Trust – a company in which Mr N Bent (a director) is the CEO.

The company purchased mentoring services for vulnerable students from The Tutor Trust totalling £54,839 (2021: £10,232) during the period. These transactions are often specifically subsidised by third parties and The Tutor Trust itself is supported by third party donations, which enables it to offer its services on a not-forprofit basis.

Whilst these relationships were declared internally, and transactions carried out at arms-length, an internal administrative error meant transactions were not properly registered with the ESFA in advance. This has now been rectified and future transactions with both parties have been approved by the ESFA.

There were no other related party transactions.

Page 51

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS

Oasis Charitable Trust operates a defined contribution pension scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.

In addition, OCL participates in defined benefit schemes, details of which are set out below.

OCL employees belong to 17 principal pension schemes:

a. The Teachers’ Pension Scheme England and Wales (TPS) for academic and related staff.

b. 16 Local Government Pensions Schemes (LGPS) - East Riding of Yorkshire Council, London Borough of Enfield, Avon, Hampshire County Council, Greater Manchester, London Borough of Croydon, West Midlands, Wiltshire, London Borough of Havering, Kent Council County, London Borough of Lambeth, West Yorkshire, South Yorkshire, Newham, Worcestershire County Council and Wandsworth Council for non-teaching staff.

The latest actuarial valuation of the TPS related to the period ended 31 March 2019 and of the LGPS 31 March 2019.

The total pension cost to Company during the year ended 31 August 2022 was £41,552,000 (2021: £36,216,000) of which £24,299,000 (2021: £15,702,000) relates to the TPS and £17,197,000 (2021: £20,514,000) relates to the LGPS.

Contributions amounting to £2,824,000 were payable to the schemes at 31 August 2022 (2021: £2,729,000) and are included within creditors, of which £1,920,000 (2021: £1,898,000) relates to the TPS and £904,000 (2021: £831,000) relates to the LGPS. Amounts payable to the LGPS scheme in relation to lump sums at 31 August 2022 and included within creditors were £659,000 (2021: £673,000).

Teachers’ Pension Scheme (TPS)

The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in academies. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis – these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Page 52

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS (continued)

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

employer contribution rates set at 23.68% of pensionable pay (including a 0.08% administration levy)
total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £196,100 million, giving a notional past service deficit of £22,000 million.
the SCAPE rate, set by HMT, is used to determine the notional investment return. The current SCAPE rate is 2.4% above the rate of CPI. assumed real rate of return is 2.4% in excess of prices and 2% in excess of earnings. The rate of real earnings growth is assumed to be 2.2%. The assumed nominal rate of return including earnings growth is 4.45%.

The next valuation result is due to be implemented from 1 April 2023.

The employer’s pension costs paid to TPS in the period amounted to £16,559,000 (2021: £15,703,000). A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The company has accounted for its contributions to the scheme as if it were a defined contribution scheme. The company has set out above the information available on the scheme.

Local Government Pension Scheme

The Company participates in 16 Local Government Pension Schemes (LGPS).

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee administered funds. The total contributions made for the year ended 31 August 2022 was £11,194,000 (2021: £10,675,000) of which employer’s contribution totalled £8,415,000 (2021: £8,034,000) and employees’ contributions totalled £2,780,000 (2021: £2,641,000).

The agreed employee contribution rates for future years for employees and for employers are as follows:

Gross Salary	Employee’s contribution
Up to £14,600	5.50%
£14,601 - £22,900	5.80%
£22,901 to £37,200	6.50%
£37,201 to £47,100	6.80%
£47,101 to £65,900	8.50%
£65,901 to £93,400	9.90%
£93,401 to £110,000	10.50%
£110,001 to £165,000	11.40%
Over £165,001	12.50%

Page 53

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS (continued)

Academy	Pension Fund	Employer’s contribution
OA New Oak	Avon	22.28%
OA John Williams	Avon	22.28%
OA Connaught	Avon	22.28%
OA Brightstowe	Avon	22.28%
OA Bank Lease	Avon	22.28%
OA Long Cross	Avon	22.28%
OA Brislington	Avon	22.28%
OA Marksbury Road	Avon	22.28%
OA Shirley Park	Croydon	20.10%
OA Coulsdon	Croydon	19.80%
OA Byron	Croydon	19.40%
OA Ryelands	Croydon	22.60%
OA Arena	Croydon	15.90%
OCL Head Office	Enfield	17.20%
OA Hadley	Enfield	17.20%
OA Enfield	Enfield	17.20%
OA Wintringham	East Riding	18.00%
OA Parkwood	East Riding	18.00%
OA Nunsthorpe	East Riding	18.00%
OA Immingham	East Riding	18.00%
OA Henderson Avenue	East Riding	18.00%
OA Oldham	Greater Manchester	18.90%
OA Media City UK	Greater Manchester	18.90%
OA Limeside	Greater Manchester	18.90%
OA Harpur Mount	Greater Manchester	18.90%
OA Aspinal	Greater Manchester	18.90%
OA Temple	Greater Manchester	18.90%
OA Broadoak	Greater Manchester	18.90%
OA Clarksfield	Greater Manchester	18.90%
OA Leesbrook	Greater Manchester	18.90%
OA Mayfield	Hampshire	18.90%
OA Lords Hill	Hampshire	18.90%
OA Sholing	Hampshire	18.90%
OA Pinewood	Havering	21.40%
OA Skinner Street	Kent	22.50%
OA Isle Of Sheppey	Kent	22.50%
OA South Bank	Lambeth	22.20%
OA Johanna Primary	Lambeth	22.20%
OA Silvertown	Newham	12.80%
OA Don Valley	South Yorkshire	13.57%

Page 54

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS (continued)

OA Firvale	South Yorkshire	14.47%
OA Watermead	South Yorkshire	14.40%
OA Lister Park	West Yorkshire	15.20%
OA Putney	Wandsworth	19.00%
OA Longmeadow	Wiltshire	25.30%
OA Short Heath	West Midlands	19.70%
OA Woodview	West Midlands	19.70%
OA Hobmoor	West Midlands	19.70%
OA Boulton	West Midlands	19.70%
OA Blakenhale Juniors	West Midlands	19.70%
OA Blakenhale Infants	West Midlands	19.70%
OA Foundry	West Midlands	19.70%
OA Warndon	Worcestershire	22.19%

Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013.

The tables below outline the key assumptions disclosed within ranges and the monetary values shown in total for the fifteen LGPS schemes:

Principal Actuarial Assumptions

cipal Actuarial Assumptions
	31 August	31 August
	2022	2021
Rate of increase in salaries	3.85%	3.95%
Rate of increase for pension in payment/inflation	2.85%	2.95%
Discount rate for scheme liabilities	4.25%	1.75%
Inflation assumptions (CPI)	2.85%	2.95%
Commutation of pensions to lump sums	0.0%	0.0%

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectancy on retirement age is 65 is:

	31 August	31 August
	2022	2021
Retiring today
Males	21.7	22.5
Females	24.0	25.1
Retiring in 20 years
Males	22.7	24.0
Females	25.3	26.5

Page 55

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS (continued)

Sensitivity analysis	31 August	31 August
	2022	2021
Discount rate + 0.1%	(4,372)	(7,317)
Discount rate - 0.1%	4,486	7,508
Mortality assumption, 1 year increase	5,760	8,813
Mortality assumption, 1 year decrease	(5,104)	(7,848)
CPI rate + 0.1%	4,375	(7,295)
CPI rate - 0.1%	(4,266)	(7,113)

The overall expected rate of return is based on asset models which consider economic scenarios and use probability distributions to project a range of possible for the future behaviour of asset returns and economic variables. The actual loss on scheme assets was £8,542,000 (2021 gain: £29,328,000), assuming returns are calculated using interest income net of actuarial gains or losses.

The Company’s share of the assets and liabilities was:

Equities Bonds Property Cash Other	2022 Fair Value Share £’000 % 97,455 60.58 26,624 16.55 17,551 10.91 4,456 2.77 14,784 9.19 160,870	2021 Fair Value Share £’000 % 98,504 61.3 27,808 17.3 16,370 10.2 4,172 2.6 13,950 8.6 160,804

Amounts recognised in the Statement of Financial Activities

Current service cost Net interest cost Past service cost Administration cost	2022 £’000 23,184 2,210 - 217 25,611	2021 £’000 18,556 1,749 - 209
		20,514

Page 56

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

30. PENSION OBLIGATIONS (continued)

Movements in the present value of defined benefit obligations were as follows:

At 1 September 2021 Upon conversion Current service cost Past service cost Interest cost Employee contributions Actual (gain)/ loss Benefits paid At 31 August 2022	2022 £’000 291,261 - 23,184 - 5,100 2,780 (144,840) (2,370) 175,115	2021 £’000 229,757 - 18,556 - 3,916 2,641 38,688 (2,297)
		291,261

Movements in the fair value of the Company’s share of scheme assets:

At 1 September 2021 Upon conversion Expected return on assets Actuarial gain Employer contributions Employee contributions Benefits paid Administration cost At 31 August 2022	2022 £’000 160,804 - 2,889 (11,431) 8,415 2,780 (2,370) (217) 160,870	2021 £’000 123,253 - 2,167 27,214 8,035 2,641 (2,297) (209)
		160,804

31. CONVERSION OF ACADEMIES TO THE COMPANY

No new academies have joined the company during the financial year 31 August 2022.

32. AGENCY ARRANGEMENTS

OCL distributes 16-19 bursary funds to students as an agent for the ESFA. In the accounting year ended 31 August 2022 the Company received £143,645 (2021: £156,754) and disbursed £85,229 (2021: £116,702) from the fund. There was a balance of £19,386 (2021: £61,141) deferred at the year-end date.

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OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

33. POST BALANCE SHEET EVENT

As noted in the plans for the future section within the directors’ report, OCT has established a new subsidiary company called Oasis Restore. This company will take responsibility for the operations of a secure school. The funding agreement with the Ministry of Justice has been signed in March 2023.

34. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 AUGUST 2021

Notes INCOME FROM: Donations and grants 2 Trading and other 3 Investments – interest income Charitable activities 4 TOTAL EXPENDITURE ON: Raising funds 5 Fundraising trading costs 6 Charitable activities 7 TOTAL Net income/(expenditure) Transfers between funds Net gains on revaluation of fixed assets Actuarial loss on defined benefit pension schemes Net movement in funds At 1 September 2020 At 31 August 2021	General £000 2,791 778 32 4,932 8,533 952 200 6,303 7,455 1,078 971 - - 2,049 5,708 7,757	Designated £000 172 - - 177 349 - - 591 591 (242) 100 173 - 31 2,281 2,312	Designated £000 172 - - 177 349 - - 591 591 (242) 100 173 - 31 2,281 2,312	Restricted funds £000 16,561 2,122 - 210,703 229,386 - - 230,987 230,987 (1,601) (1,071) - (11,474) (14,146) 286,167 272,021	Total 2021 £000 19,524 2,900 32 215,812
					238,268
					952 200 237,881
					239,033
					(765) - 173 (11,474)
		31 2,281			(12,066) 294,156
		2,312			282,090

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2022-08-31-accounts

OASIS CHARITABLE TRUST

CONSOLIDATED FINANCIAL STATEMENTS

31 AUGUST 2022

CONTENTS

COMPANY INFORMATION

Company number 02818823 Registered charity number 1026487 FOR THE YEAR ENDED 31 AUGUST 2022

DIRECTORS’ REPORT Company number 04255992 Registered charity number 1098100

FOR THE YEAR ENDED 31 AUGUST 2022

INTRODUCTION

PRINCIPAL ACTIVITIES

GOVERNANCE

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

DIRECTORS

COMPANY SECRETARY AND COMPANY REGISTRATIONS

GOVERNANCE STRUCTURE

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

VISION, MISSION, OUTCOMES AND OPERATION

Vision (what we are working towards)

Mission (what we are doing now to fulfil our vision)

Outcomes (what we hope will be the results of the work we do)

Operation

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

ENGAGEMENT WITH EMPLOYEES (INCLUDING DISABLED PERSONS)

ENGAGEMENT WITH SUPPLIERS, CUSTOMER AND OTHERS IN A BUSINESS RELATIONSHIP

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

STRATEGIC REPORT

1. OASIS COMMUNITY LEARNING (OCL)

2. OASIS COMMUNITY PARTNERSHIPS (OCP)

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

3. OASIS COMMUNITY HOUSING (OCH)

FOR THE YEAR ENDED 31 AUGUST 2022

4. OASIS INTERNATIONAL ASSOCIATION (OIA)

4.1.1 STOP THE TRAFFIK

4.1.2 OASIS INTERNATIONAL FOUNDATION

5. OASIS CHARITABLE TRUST (OCT) INNOVATION

FINANCIAL REVIEW

FOR THE YEAR ENDED 31 AUGUST 2022

PLANS FOR THE FUTURE

GOING CONCERN

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

RESERVES POLICY

INVESTMENT POLICY

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

INTERNAL CONTROL AND RISK MANAGEMENT

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

FUNDRAISING

EQUAL OPPORTUNITIES POLICY

REMUNERATION OF KEY MANAGEMENT PERSONNEL

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

VOLUNTEERS

EMPLOYEE INVOLVEMENT

WORKING AND ENGAGING WITH OUR STAKEHOLDERS – SECTION 172 STATEMENT

Engagement with employees (including disabled persons)

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

ENGAGEMENT WITH SUPPLIERS, CUSTOMER AND OTHERS IN A BUSINESS RELATIONSHIP

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

FOR THE YEAR ENDED 31 AUGUST 2022

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

AUDITOR

Opinion