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2025-08-31-accounts

Company number 02818823

OASIS CHARITABLE TRUST

CONSOLIDATED FINANCIAL STATEMENTS

31 AUGUST 2025

(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 2025

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Directors' report and Strategic Report 2 – 29
Independent auditor’s report 30 – 33
Statement of financial activities (incorporating a consolidated Income and 34
Expenditure Account)
Consolidated balance sheet 35
Company balance sheet 36
Consolidated and company statement of cash flows 37
Notes to the financial statements 38 – 73

OASIS CHARITABLE TRUST

COMPANY INFORMATION

Company number 02818823 Registered charity number 1026487

FOR THE YEAR ENDED 31 AUGUST 2025

DIRECTORS R Beckford (resigned 30 January 2026)
D Bright
C Heard
O Kolade
J Madeiros (appointed 28 April 2026)
N Mapp
M McAllister
C Morgan
H Phinda
N Salisbury
J Smith
C Taylor
P Warland (resigned 28 April 2026)
D Willson-Rymer (resigned 7 November 2024)
SECRETARY AND REGISTERED AND PRINCIPAL
OFFICE Mr D Parr
Registered office:
1 Kennington Road
London
SE1 7QP
AUDITOR Cooper Parry Gorup Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
B3 3AX
BANKER Barclays Bank PLC
1 Churchill Place
London
E14 5HP
SOLICITORS Lewis Silkin LLP
Abor
255 Blackfriars Road
London
SE1 9AX
Browne Jacobson LLP
15th Floor
103 Colmore Row
Birmingham
B3 3AG
GROUP CHIEF EXECUTIVE D Parr
OTHER KEY MANAGEMENT PERSONNEL D Welch
N Wilson

Page 1

OASIS CHARITABLE TRUST

DIRECTORS’ REPORT Company number 02818823 Registered charity number 1026487 FOR THE YEAR ENDED 31 AUGUST 2025

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 2025. 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 & PUBLIC BENEFIT

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 through agencies 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.

The governance structure of the group includes the Founder, CEO’s, subsidiary executives and senior management. The full group KMP costs are included in note 10.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

DIRECTORS

The Directors who have served during the year are: R Beckford (resigned 30 January 2026) D Bright C Heard O Kolade J Madeiros (appointed 28 April 2026) N Mapp M McAllister C Morgan H Phinda N Salisbury J Smith C Taylor P Warland (resigned 28 April 2026) D Willson-Rymer (resigned 7 November 2024)

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 Partnerships (OCP), its children’s, youth and community development work; Oasis International Association (OIA), its charity that supports international work including the work of STOP THE TRAFFIK, and Oasis Restore Trust (ORT), a recently formed secure academy trust to run the secure school in Kent. OCP is the parent of a number of Hub Companies. All 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, 21 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.

Steve Chalke is the Founder of Oasis. The OCT key management personnel are Dave Parr, Danielle Welch and Nicola Wilson.

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 2025

Method of Recruitment and Appointment or Election of Directors

The term of office for any Director is three years and thereafter they may be re-appointed. The make-up of the Board includes experienced professionals, many of whom have a detailed understanding of the operational and legal requirements of running a large educational institution. New directors are expected to bring a track record of governance with them. The board regularly reviews its make-up and seeks to strengthen its membership as gaps arise. Existing Directors will then identify potential new Directors who will then sit on the Board as observers pending mutual ratification of appointment as well as the use of agency recruitment when appropriate.

Policies and Procedures Adopted for the Induction and Training of Directors

An induction programme is in place for new Directors, which enables them to gain an understanding of the ethos, values and strategic direction of the Company, as well as the responsibilities of charity trustees. Directors are also encouraged to make visits to the academies and participate in governance training programmes arranged nationally.

VISION AND MISSION

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 Charitable Trust (OCT) exists to build stronger communities where there is no one left out – places where everyone has opportunity to thrive and flourish. We do this by:

ii. Pioneering new solutions, to tackle exclusion

We develop innovative and relational approaches to a wide range of societal systems including education (through our network of 57 academies), youth justice (through our secure school – Oasis Restore), youth work (through our community and violence reduction youth work), homelessness and supported housing work (through the work of Oasis Community Housing), anti-human trafficking responses (through Stop The Traffik), and church (through our family of Oasis churches).

iii.

Leading system change, to address inequality

We seek to act as a trusted reference point for community change through offering insight into what works based on practice. We do this by being a founding partner and deliverer of the National Institute of Teaching (the UK’s school-led teaching institute), developing and hosting the Centre for Young Lives (our independent think tank and delivery unit dedicated to improving the lives of children, young people, and families), delivering leadership and community development training courses, and campaigning around a wide range of issues including a trauma responsive approach to homelessness.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT

In 2025, we celebrated the 40[th] Anniversary of Oasis. Through the year, we took time to recognise the extraordinary commitment of the many thousands of staff, volunteers, supporters, residents, community members, and young people, who have worked tirelessly to tackle injustice and build communities based on inclusion not exclusion. As part of our 40[th] year, we developed our No One Left Out campaign built around three core priorities for the future:

We wish to thank all those involved in the development of the Oasis movement over 40 years. The following strategic report sets out the significant growth across our work in 2024/25 – in neighbourhoods, across our family of academy schools, in our homelessness and supported housing work, in our ‘villages’, and throughout our anti-human trafficking programmes.

Through the year we have:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Oasis Charitable Trust (OCT) delivers this strategy directly and through our family of Oasis subsidiary charities:

  1. Oasis Community Learning

  2. Oasis Community Partnerships

  3. Oasis Community Housing

  4. Oasis Restore Trust

  5. Oasis International Association

  6. 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:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1. OASIS COMMUNITY LEARNING (OCL)

Oasis Community Learning is the part of the Oasis family that is responsible for providing quality education to around 30,000 children and young people through our 55 academies. The total overall income for OCL increased from £282,779,000 in the year ending August 2024 to £303,619,000 in this financial year. Core grant income increased to £276,968,000, which was due to baseline funding increasing to allow for inflation and increased eligibility for the higher rate pupil premium funding. Furthermore, there were two new academies who joined Oasis at the beginning of the year so General Annual Grant income increased in line with this.

Our family of academies share one vision to create ‘Exceptional Education at the Heart of the Community’. Across the country we have 4,520 staff members in roles inside and outside the classroom, who work together to develop the competence and character of our young people to ensure that they can each reach their potential, whatever their background, ability, or circumstances.

In the 2024/25 academic year before the Year 11s left in June 2025, we educated 29,853 students, of which 53.2% (three percentage point increase on 2023/24) received pupil premium funding and 37% speak English as an additional language (two percentage point increase on 2023/24).

We are committed to providing outstanding education, and have deliberately sought to work in communities that face disadvantage. In this context, Ofsted results across Oasis academies have improved year-onyear. Of the Oasis academies that Ofsted have inspected, 90% were rated as ‘Good’ or better at the end of the last academic year (an improvement from 44% in August 2014).

Inclusion is a core priority and as such we are committed to doing all we can to maximise attendance. Our attendance for 2024/25 was 93.3% across our primaries (2023/24: 93.3%). This is 1.5 percentage points below the national rate for attendance of 94.8%. Across our secondaries, attendance was 89.3% (2023/24: 88.3%) compared to the national rate of 91.5%.

Our commitment to inclusion is also reflected in our work to minimise exclusions. 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 five in 2020/21. In the primary phase, permanent exclusions were very rare between 2019/20 and 2021/22. In 2018/19, there were seven permanent exclusions, reducing to one in both 2019/20 and 2020/21 and down to none in 2021/22. In line with national trends, we have seen an increase in exclusions since the Covid pandemic. In the secondary phase, we have seen an increase to 18 in 2021/22, followed by a larger increase to 62 in 2022/23 and decreases to 59 in 2023/24 and 51 in 2024/25. In the primary phase, there were six permanent exclusions in 2022/23, eight in 2023/24, and seven in 2024/25.

To address this trend, we launched The Oasis Way for Inclusive Practice in September 2024, a transformational approach to inclusion encompassing our approach to Behaviour and Pastoral Care, Special Educational Needs & Disabilities, and Personal Development. This holistic model is our traumaresponsive, attachment-aware, child-centred, relational and restorative response to educational practice. Through the Oasis Way, we are delivering training, support, and best-practice tools that will ensure all academy leaders are empowered to deliver inclusive practice that increases attendance and reduces exclusions in the years ahead.

Across our family of primary academies, 62% of children achieved the expected standard in reading, writing and maths (RWM), an increase from 56% in 2023/24. This is in line with the national figure of 62% for all primary schools in 2025. If we compare the achievement of our students over a longer time period, between 2022 and 2025, results have risen by nine percentage points from 53% to 62%. This compares to a three percentage point improvement nationally (from 59% to 62%).

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

In Key Stage 4, GCSE results have improved from 2024. The detail is as follows:

In Key Stage 5 the picture is as follows:

2. OASIS COMMUNITY PARTNERSHIPS (OCP)

Oasis Community Partnerships is the part of the Oasis family that is responsible for delivering our youth and community work in ‘community Hubs’ around the country. Income for the OCP group is £8,917,364, (2024: £5,676,682) and has been generated by a combination of donations and grants £2,626,332, (2024: £740,010), charitable activities £6,062,518, (2024: £4,717,758) and other income of £228,514, (2024: £218,914).

Expenditure for the group is £7,374,409, (2024: £5,515,894), giving an overall surplus of £1,542,955, (2024: £160,788). Total funds at year-end are £4,705,256, (2024: £3,162,301), comprising unrestricted £1,528,749, (2024: £798,598), designated £266,495, (2024: £369,241) and restricted funds of £2,910,012, (2024: £1,994,462).

We have developed a youth and community strategy, which has seen growth in our 21 focus Hubs across the following areas:

In 2024/25, our youth and community team had 178 employees and over 1,000 volunteers. During the year, across all our projects, we worked with:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

On average, across all of our provisions we delivered:

Some highlights from across our family of ‘community hubs’ include (further highlights are recorded in the individual accounts of each entity):

3. OASIS COMMUNITY HOUSING (OCH)

Oasis Community Housing is the part of the Oasis family that is responsible for delivering our homelessness and supported housing interventions. Incoming resources for OCH totalled £4,481,910 (2024: £4,743,863) of which £541,069 (2024: £1,378,370) related to restricted funding for specific projects. Resources expended totalled £4,891,410 (2024: £4,470,710). Overall, we had a deficit in the year of £409,500 (2024: surplus of £273,154). This fluctuation largely reflects the timing of receipts from funders, who either make multi-year grants or give grants within the framework of the UK financial year. General unrestricted reserves are showing as £477,741 (2024: £584,484). Net assets carried forward at the year-end are £2,975,322 (2024: £3,384,822).

The 2024/25 financial year has been a year of significant development. Due to contractual changes, we took the difficult decision to close three longstanding OCH services – our Naomi project, which supported young women at risk of homelessness; Elizabeth House, which supported young mothers; and Karis, which was decommissioned. We also significantly altered our Basis Beds, 58:7, and Aspire projects due to Gateshead Council review of services. In addition, our Ukrainian refugee project in Peterborough came to a close; at the end of the scheme, we were able to support six families to access Council housing, and one family to move into private rented accommodation.

Having, made these project changes, we now use these properties in a different way and to support new client groups. The properties that we used for our Naomi and 58:7 projects have become homes for 14 adults with multiple and complex needs, some of whom have also experienced homelessness. Properties

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

are staffed 24 hours per day, and support workers have been building new relationships and working as part of multi-disciplinary teams to ensure residents receive tailored support. Further emergency accommodation is offered through six self-contained dispersed properties.

Our work with adults also expanded through the year to include two new teams: Outreach and Resettlement, and Housing First, which began work in November 2024. This funding enabled us to proactively engage with 95 people sleeping rough or experiencing homelessness in Gateshead and South Tyneside, introducing them to our drop-in and resettlement teams, and providing help and support to people at the earliest opportunity.

Elizabeth House was transformed in June 2025 to become our home for young people aged 16+ who have care experience. We are working closely with social workers and psychologists to create the best possible environment for our young people to thrive. This accommodation is staffed 24/7 and is Ofsted registered. In addition, we have also launched a new programme for care-experienced young people who are aged 18+ and ready to live more independently.

Through the year, we have also strengthened our ongoing projects. Our drop-in centres in Gateshead and Sunderland have supported more people than ever before (953 attendees, 7,017 attendances). Our contracts with Southwark Council have continued to develop, where we provide 16 young people with 24hour support in our own property, and a further 38 with floating support across ten leased properties.

After the resignation of our Chief Executive Officer in June 2024, we began recruiting for a new OCH CEO. During the year, we were extremely thankful to our Chief Operating Officer, who acted as interim-CEO through this transitionary period. We appointed a new CEO, Sarah Gorman, in June 2025, and she will take on the new role in November 2025.

Some key achievements from the last year include:

In the year, we were delighted to be part of the All-Party Parliamentary Group for Ending Homelessness and we became one of the founding members of the North-East Women’s Homelessness Alliance.

4. OASIS RESTORE TRUST (ORT)

Oasis Restore Trust is the part of the Oasis family that is responsible for delivering our Secure School. For the period ended 31 March 2025, the Secure Academy Trust’s total income (excluding capital grants, donated assets and LGPS FRS 102 net pension interest income) was £12,184,005 while the total expenditure (excluding depreciation and LGPS FRS102 pension cost charges) was £11,199,681, resulting in a net operating surplus for the period of £984,324 before transfers to fund capital expenditure.

Based in Rochester, Kent, we operate as a Secure Academy Trust for children aged 12- 18 years who are remanded or sentenced to custody by the courts. Our goal is to provide integrated education, healthcare, and residential care, delivered in a therapeutic and secure environment. As a core part of our provision, we provide tailored full-time or part-time education for up to 46 children at any one time.

We work in partnership with Central North and West London, who are accountable for delivering health and wellbeing services for children at the school.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Oasis Restore opened to placements from the Youth Custody Service on 22[nd] August 2024. The school’s ramp up of placements was initially scheduled across 2024/25 and 2025/26, to ensure the safe and effective recruitment and training of 146 FTE residential, child-facing staff and a full teaching staff team. However, after opening, significant challenges were found with the building. These included defects with internal doors that were fitted by the Ministry of Justice (MoJ). In April 2025, the Oasis Restore board took the decision to reduce student numbers to support safe management of the site and in August 2025 decided to pause all placements to allow the MoJ to procure and fit new doors. We worked with the Youth Custody Service to transition all children from Restore and we expect to reopen to students in Spring 2026.

Since opening, the we have undergone a number of inspections, conducted under two separate inspection frameworks. The school's dual registration as both a Secure Children’s Home and a 16–19 Academy represents a new model within the custody sector. However, there is currently no existing inspection framework tailored to secure schools.

Positive Findings

Inspection reports and Regulation 44 visits have identified strong areas of practice:

Areas for improvement

Trustees remain aware of ongoing challenges, including:

In June 2025, Ofsted returned to conduct a full inspection as part of the SCCIF (Social Care Common Inspection Framework). The overall judgement was Requires Improvement. Leadership and Management was judged as inadequate (this particularly related to leadership of systems and communications).

Inspectors highlighted areas of good practice and areas of challenge. Under leadership and management, the focused development areas included oversight of incidents for learning (not merely reporting), accurate reporting of daily decisions and evidence of effective communication with staff. Ofsted also noted the need to improve staff’s competence and confidence to hold consistent boundaries with children.

The key areas of good practice included that children felt safe, known and cared for. Safer recruitment practices were raised and quality of teaching and engagement when in the classroom as well as breadth of curriculum were noted as good areas of practice.

To address these issues, six-weekly reporting to the board is in place by the Executive and school Directors. These updates track progress against improvement plans, with a focus on strengthening leadership presence, staff coaching, and, importantly, systems for effective and meaningful oversight to encourage learning and consistent staff practice.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Trustees continue to ensure that the school leadership team have a robust improvement plan. This is informed by and triangulated with feedback from staff, children, advocacy services, and complaint reports to ensure a robust view of performance and progress. Key achievements through the year:

5. 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. £114k of funds were raised during the year for countries.

5.1 STOP THE TRAFFIK

Stop The Traffik is the part of the Oasis family that is responsible for delivering our anti-human trafficking response. Total income for the year ended 31 August 2025 amounted to £1,193,355 (2024: £1,367,099). Costs of raising voluntary income increased to £78,188 (2024: £60,708) and charitable activity expenditure decreased to £1,108,265 (2024: £958,641). Overall, a surplus of £6,902 (2024: £347,750) is reported for the year.

Over the past year, we have continued to make significant progress towards a world where people are not bought and sold.

Convening & Engaging

We expanded the reach of our technology and platforms that bring together anti-trafficking stakeholders across sectors:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

reporting of suspicious trafficking-related activity.

Collecting Data

Our Traffik Analysis Hub, the world’s richest database built on lived experience of modern slavery and human trafficking, now contains:

Drawing Insight

Using this growing dataset, our Intelligence Team produces insights that enable partners to identify, analyse, and disrupt MSHT activity. This year that included:

Sharing

We shared these insights with global financial institutions, businesses, law-enforcement agencies, and frontline organisations to disrupt of trafficking networks. We also deliver community-focused, socialmedia-based prevention campaigns that reached people most at risk with timely and lifesaving information. Through these programmes, we:

Acting

Our work equips stakeholders who are positioned to take action with targeted intelligence to identify and disrupt criminal activity upstream, and communities with lifesaving information to keep themselves safe from harm. As a result of our activity:

6. OASIS CHARITABLE TRUST (OCT) INNOVATION

Through the year, we have incubated a number of new projects that are designed to build community and to support at-risk young people through a range of therapeutic and restorative interventions. These programmes include new approaches to neighbourhood housing, youth work, and therapeutically informed children’s and families work that supports education in school.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Oasis 40[th] Anniversary

Through the early part of 2025, we launched our 40[th] Anniversary campaign, No One Left Out. The anniversary year was an opportunity to celebrate the achievements of Oasis over four decades and to look to the future as we tackle injustice and build stronger communities together. We established three priority areas for the year:

We began our 40th Anniversary Year with a Parliament reception hosted by Florence Eshalomi MP, and held a series of celebration events and fundraising campaigns to seek support for this important work. In autumn 2025, we will hold our 40th Anniversary Gala Dinner in Central London.

Building Tomorrow – our neighbourhood housing intervention

Through the year, we developed our neighbourhood housing initiative, Building Tomorrow, which will provide stable and affordable accommodation to 20+ families in the neighbourhoods that we serve. This innovative scheme combines excellent education – provided through Oasis academies, wrap-around community support – provided by our existing youth and community teams, and quality housing delivered through 20 three-bedroom properties that we will purchase in Sheffield and Scunthorpe.

Many families in the neighbourhoods we serve face temporary, overcrowded, or overpriced accommodation. Therefore, this programme will ensure access to safe, affordable housing, tackling one of the most enduring problems in our local neighbourhoods.

During 2024/25, we established the model for this distinctive type of community housing and successfully sought social impact funding of over £2 million to purchase and refurbish the properties in both locations.

St Martin’s Village

During 2024/25, we developed our new ‘Oasis Village’ concept in Tulse Hill, South London In September 2024, we were given the opportunity to build a new provision for young people, their families, and the entire community in a large empty school building.

Over the past year, a community of grassroots organisations, businesses, local charities, and local people have come together at Oasis St Martin’s Village, to provide support to young people who are at increased risk for exploitation and exclusion. For example, the Lambeth and Croydon Foodbank (run by Oasis Waterloo) now run a bustling food warehouse from the site. The school canteen has become the Village Hall – with food and company available through the day. The kitchen is used to deliver Jamie Oliver’s Ministry of Food training for young people interested in catering and nutrition. The sports hall and outdoor pitches are busy with football training – run by Premier League side Crystal Palace’s ‘Palace for Life’ foundation, as well as Girls United and local side Tulse Hill Juniors. The former art rooms are home to youth organisation Rekindle. The old music block now hosts free instrument tuition, exam mentoring, and music production through Symphony. Young Creators UK – a youth-led creative agency – are offering film making and photography skills and paid employment opportunities. Youth charities Spiral Skills and I AM IN ME are providing training, career support, mentoring and more.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

The list of partners continues to grow and through the year we developed plans to launch Oasis Nurture on site in 2026 – providing alternative education pathways for young people, working together with their existing school setting but giving them time out and a different learning environment. We also developed plans for providing support services for parents and carers (alongside the foodbank) in partnership with local GPs. And, we have worked on plans to develop a new farm area – with animal care, food growing, and opportunity for ‘forest school’ sessions.

Centre for Young Lives

We continued to host the Centre for 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.

The Centre has developed a wide range of research through the year aimed at transforming youth work, family support, and education. We have created four core priority areas:

Nurture

During 2024/25, we further developed Oasis Nurture, our therapeutic programme for children and families, piloted at Oasis Academy South Bank Primary, and designed to improve emotional and mental wellbeing. At its core, Oasis Nurture is about helping children form strong and healthy attachments. Whether through one-on-one sessions or group activities, the focus is on giving children a safe space to express themselves. The team is made up of over 23 practitioners, including students who are completing psychology or social work qualifications.

Through the year, we also began to develop a model for expanding Oasis Nurture to operate at Oasis St Martin’s Village, which we aim to launch in early 2026.

FINANCIAL REVIEW

Total consolidated income for the year was £344.5m (2024: £335.0m), which included grants of £300.1m (2024: £286.5m). 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 £3.9m (2024: £3.0m).

Other subsidiaries within the Oasis family are dependent on less predictable sources of funding. Total income excluding OCL in 2025 is £40.9m (2024: £52.1m). Total group expenditure for the year was £313.9m (2024: £333.2m), of which £308.2m (2024: £329.2m) was spent on charitable activities. The vast majority of this was spent on OCL’s provision of academies £278.8m (2024: £309.7m)

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

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OASIS CHARITABLE TRUST DIRECTORS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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. OCT are embarking on a neighbourhood housing project to purchase 20 properties in the next year to house families in Scunthorpe and Sheffield.

We will continue to drive forward our organisational culture. Working as a group, we will focus on exceptional education, working with remarkable people and transforming communities.

GOING CONCERN

The group’s activities are set out on page 34 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 the cost of living crisis, change in National Insurance contributions, impact on government funding for academies and local authority budgets. Their statutory accounts include declarations of where they stand. Following the preparation of budgets and cash flow forecasts, which incorporate all known potential risks, 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 changes in government and the impact on funding on the organisation. The going concern status of the organisation has been assessed in the light of the following matters:

For these reasons, the company will continue to adopt the going concern basis in preparing the financial statements and the Directors’ have no material uncertainties in their assessment.

For other entities in the group, the Directors have confirmed that the major sources of grant funding are committed. 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.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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 and ORT 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 £78.5m (2024: £83.3m) 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 £445.7m (2024: £417.9m), of which £15.4m is unrestricted (2024: £13.2m), £2.6m is designated (2024: £2.6m) and £427.7m (2023: £402.1m) is restricted.

Included in the overall group reserves above are OCL’s reserves which were £393.5m (2024: £376.8m) at the balance sheet date. This was made up of £ 366.3m (2024: £358.4m) in respect of reserves set aside for future depreciation of the company’s assets and unapplied capital grants to purchase equipment in future periods, offset by £nil (2024: deficit £0.3m) in respect of future potential pension liabilities. This leaves £27.2m (2024: £18.7m) of revenue reserves, made up of unrestricted and restricted funds.

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. After a very successful investment year in 2023/24 we have continued to take advantage of more favourable interest rates on term deposit accounts during 2024/25. Cash reserves during the year to 31 August 2025 were invested in short-medium term treasury and money market accounts, attracting interest rates between 3% and 5%. Our strategy for future years is to ensure we maximise returns as much as possible, but within risk appetite, by continuing to use low-risk treasury options, however we do expect a lesser return as cash balances reduce and interest rates stabilise.

A short-term investment is held within OCT, arising from the transfer of St Martins in the Field and this will be realised within the next year.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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.

Further risks are generic to each operating subsidiary and are disclosed in their own statutory accounts. The main risks facing OCL (which based on its significance to the overall results of the group, have also been considered within this consolidated report) are:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

If trends persist, difficult decisions around non-core investment may impact pupil outcomes, staff morale, and long-term goals. Recruitment and retention risks are also growing as wage constraints affect competitiveness. These pressures highlight the need for proactive financial planning, scenario modelling, and strategic prioritisation to protect educational quality and organisational resilience. We plan to invest heavily in teacher training via NIoT, strengthening pedagogical development, improving People & Culture services, and focusing on inclusion and behaviour. These measures will, however, take time to deliver full impact.

The overall Trustees 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. Our Risk Appetite Statement supports informed decision making in line with clear risk appetites for effective and meaningful management.

FUNDRAISING

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

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.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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 AND EMPLOYEE ENGAGEMENT

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.

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 in accordance with the Charities SORP 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:

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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.

As an organisation we are clear about the benefits of connection and wellness and the value of collaborative, communicative and open cultures. Over the last year the People Directorate has worked with staff across Oasis to create our People statement of Intent, that sets out our aspiration for people.

We continue to develop our employment framework, building the strength of Oasis as an employer through our policy suite and recognition and reward strategy. We know that effective line management is key to staff wellbeing and that it is through our staff that we can enable the wellbeing of our students.

A range of leadership development opportunities have been implemented to enable our leaders, helping them to create the culture of an organisation genuinely connected with people. We have professional coaching and a mentoring programme with a specific focus on increasing diversity in our leadership teams.

Similarly, connection with and through our staff enables us to create an authentic culture. The company has a range of methods for communicating and engaging with employees these include:

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

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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.

OCL We will continue to develop communication with all stakeholders, internal and external, to build the strength of the organisation.

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.

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.

In OCL Contract Management is undertaken by contract managers within service directorates (e.g., IT or Property & Estates), supported by the National Procurement manager. Together, they ensure service levels are met and organisational needs are communicated. Formal reviews take place monthly, quarterly or annually, depending on value, risk and complexity. There are clear escalation processes in place to ensure that any service issues can be remedied quickly.

During 2024/25, OCL continued to develop the following areas:

Performance Measurement and Reporting

Strategic Contracts: Performance is monitored through KPIs and data reporting in major contracts such as catering and waste management, providing strong incentives for excellence.

Waste Management: The introduction of a three-bin system in academies has improved recycling rates. A review of collection frequency and bin capacity is underway to ensure efficiency. Catering: Meal uptake is monitored monthly, enabling rapid identification of academies with low participation and the implementation of initiatives to improve engagement. KPIs have been updated to align more closely with service requirements and quality standards.

Continuous Improvement: OCL continues to explore modern technologies and digital portals to ensure secure, efficient data collection, analysis, and reporting.

Supplier Base Management

OCL is strengthening its approach to supplier base management. While we are no longer seeking to reduce suppliers regionally, we are committed to supporting SMEs and VCSEs within the communities we serve. Regional purchasing is encouraged, while maintaining the benefits of national supplier relationships. Endusers are supported to identify and engage with local suppliers where appropriate.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

We remain focused on developing long-term partnerships that promote stability, consistency, and continuous improvement. Several regional contracts have been consolidated into national agreements, reducing duplication and enhancing efficiency.

Benefits of this approach include:

Increased Leverage: Greater purchasing power has enabled OCL to negotiate more favourable terms.

Economies of Scale: Aggregated spend has delivered cost efficiencies and operational benefits.

All suppliers undergo rigorous due diligence checks to ensure compliance and accountability.

Commitment to Sustainability

OCL remains committed to becoming a sustainable enterprise by investing in innovative solutions and technology.

Net Zero Accelerator: Full decarbonisation plans and BIM models have been completed for five academies. Further projects, including solar PV installations and BMS upgrades, are planned subject to surveys and funding.

Eco Schools: 21 academies have begun applications for the Eco Schools Green Flag Award, with two already accredited.

Grid Edge BMS Technology: A successful trial at OA Oldham generated annual savings of over £81,000. The technology is now being rolled out across six additional academies to further reduce energy use, costs, and carbon emissions.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

As only OCL is a large company within the group, we are only presenting information and data in relation to them, therefore there are no references to any other parts of the OCT group.

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

We are required to report our energy and carbon performance in this report as part of the government’s policy on Streamlined Energy and Carbon Reporting (SECR).

Academy trusts with energy consumption of over 40,000kWh within the accounting period are required to report this information. This report relates only to Oasis Community Learning (OCL) and does not include any other Oasis group entities. Although OCL does not have direct control over the purchase of energy for PFI academies, and a small number of academies within local authority energy contracts, the data for these academies is included and is separated in the table below.

Energy and Carbon Performance

The table below shows OCL’s energy performance for the past three academic years, giving an extra year’s comparison than required under SECR. The 2023/24 figures have been restated and therefore differ slightly from last year’s financial report, see the note in the methodology.

The table shows that total energy consumption by OCL in 2024/25 was 40,550,196 kWh, a 10.6% drop from 2023/24 (45,378,774 kWh). Looking into the energy categories more closely it is clear that the majority have made some significant positive progress this year, with only district heating and the office consuming more energy this year. We continue to reduce our electricity consumption within Oasis academies, this year by over 8%, and were able to see a sizable reduction (15.2%) in our gas too (OCL academies). We’ve

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OASIS CHARITABLE TRUST DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

also seen a reduction in business travel related consumption and emissions as this data started to be shared more widely within the trust. It should be noted that we have lost a large secondary academy from the trust compared with last year but also gained two primaries. We continue to work really hard to engage with staff and students on the importance of their energy behaviours around schools and what they can do in their roles to create efficiencies. Visits from the trust National Environmental Sustainability Manager as well as the Net Zero Accelerator programme partners make a direct impact on the ground with engagement.

The increase in consumption from the district heat network is somewhat unknown currently as data from this system is less frequent, so we will continue to investigate reasons this coming year and work together with the network provider on this. Although it’s category increase is 18.7%, it only accounts for ~0.2% of the overall Scope 1 and 2 footprint. Although energy consumption from our PFIs and other non OCL contracted energy supplied academies has reduced for both gas and electricity, this is still to a lesser degree than other academies. We have no direct control over the facilities management of these schools, only influence through our relationships. We have, however, been having conversations with these management providers where possible and will continue to influence them on energy efficiency measures that will benefit both parties, as well as the environment. We know that many of these electricity contracts are that are not on 100% renewable tariffs and the market-based emissions factors have risen for many of these as renewable tariffs become more popular with others.

Overall, 2024/25 continues the long-term warming trend for England generally, however, according to Met Office average temperatures, it had six cooler months (mostly autumn/winter) than 2023/24, with four warmer (mostly summer) and two the same average temperature. Therefore, despite cooler average temperatures in many of the months academies would have their heating switched on, we have still managed to find space heating efficiencies and reduce gas consumption as a result. We have been, and continue to, concentrate on our out of hours consumption in particular to find easier wins that still give staff and students comfortable learning environments.

With regards to the business travel, although we have seen a reduction trend this year, we continue to monitor this more closely throughout the year for patterns and have recently developed a working group to look at ways that policy, communication and incentives can help support this positive action further in 2025/26 and beyond. As a trust geographically spread, this will continue to be on our radar.

OCL normalises SECR data using the total number of students for the academic year to allow comparison. The number of students last year was 30,860 (2023/24: 32,747). This means that energy consumption per student was 1,314 kWh (2023/24: 1,387), a reduction of 5.2%, continuing to successfully uncouple energy consumption from student numbers for the third consecutive year, despite the slight drop in numbers demonstrating positive progress in terms of energy efficiency and intensity.

In terms of carbon emissions for the scopes reported, our overall market-based total has marginally decreased from 5,849 tCO2e (2023/24) to 5,207 tCO2e over the last academic year, 11%. The normalised per student figure has seen a 5.5% drop from 0.179 (2023/24) to 0.169. Operating at a lower capacity means learning spaces are occupied by less staff and students but will still require the same amount of classrooms and other spaces making them less efficient in their consumption of energy, therefore it is particularly noteworthy that we have managed to reduce our emissions intensity. With location-based emissions, we have seen an even bigger drop in our carbon footprint, 15%, which is still a 10.4% reduction on the normalised figure. This larger decrease is owed to the sustained decarbonisation trend of the grid during 2025 and the resultant emissions factor.

Electricity that does not come direct from PV systems on OCL academy roofs is procured from 100% renewable sources and backed by energy labels to evidence this. The Scope 2 greenhouse gas emissions were therefore just 379 tCO2e (market-based) instead of the 2,297 tCO2e (location-based) they would have been otherwise. The remaining emissions come from buildings where OCL does not have direct control over the electricity tariff, this is for most of our PFI academies and a small number of other academies where energy is the local authority contracted. Overall, these Scope 2 emissions account for nearly 7% of our Scope 1&2 footprint and as mentioned earlier, we continue to have conversations with the relevant parties to try to switch these remaining contracts to 100% renewable tariffs as well as encouraging energy efficiency measures and behaviours.

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OASIS CHARITABLE TRUST

DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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

----- Start of picture text -----
Annual comparison 24-25 to
2022-23 academic year 2023-24 academic year 2024-25 academic year previous year
Consumption Emissions Consumption Emissions Consumption Emissions Consumption Emissions
Scope Category Organisation area/activity (kWh) (tCO2e) (kWh) (tCO2e) (kWh) (tCO2e) change change
Scope 1 total 29,728,802 5,350 29,647,689 5,331 26,207,658 4,680 -11.6% -12.2%
Schools 23,235,756 4250 23,120,260 4229 19,608,793 3588 -15.2% -15.2%
Natural gas PFIs & non OCL energy contracts 5,815,493 1064 5,784,980 1058 5,750,151 1052 -0.6% -0.6%
Office 26,632 5 27,697 5 24,086 4 -13.0% -13.0%
1 District heat Schools 549,000 5 624,300 17 741,140 15 18.7% -13.0%
Schools 0 0 0 0 0 0.0% 0.0%
Refrigerants PFIs 0 0 0 0 0 0.0% 0.0%
(fgas) Office (Lower Marsh) 0 0 0 0 0 0.0% 0.0%
Diesel Minibuses 101,921 26 90,451 21 83,488 22 -7.7% 2.3%
Scope 2 total 16,185,797 3,113 14,948,694 2,919 13,732,022 2,297 -8.1% -21.3%
Schools 12,179,422 2522 10,947,520 2267 9,983,247 1767 -8.8% -22.0%
Electricity PFIs & non OCL energy contracts 3,069,989 586 3,167,180 649 3,006,420 527 -5.1% -18.8%
(location-based) Office 21,624 4 19,197 4 19,300 3 0.5% -14.1%
2 Solar 914,761 0 814,798 0 723,055 0 -11.3% 0.0%
Scope 2 total 16,185,797 308 14,948,694 330 13,732,022 379 -8.1% 14.7%
Schools 12,179,422 0 10,947,520 0 9,983,247 0 -8.8% 0.0%
Electricity PFIs & non OCL energy contracts 3,069,989 308 3,167,180 330 3,006,420 379 -5.1% 14.7%
(market-based) Office 21,624 0 19,197 0 19,300 0 0.5% 0.0%
Solar 914,761 0 814,798 0 723,055 0 -11.3% 0.0%
Scope 3 total 683,089 178 782,391 188 610,516 148 -22.0% -21.6%
3 PetrolDiesel Business travel 379303,,309658 9484 447335,,095296 10485 368241,,863652 8563 -17.5-27.9%% -17.7-26.3%%
Unknown 122 0 0 0 0 0 0.0% 0.0%
Electric - - 0 0 0 0 0.0% 0.0%
Pupil numbers 32,872 32,747 30,860 -5.8% 0.0%
Total Scope 1&2 (location-based) 45,914,599 8463 44,596,383 8250 39,939,680 6978 -10.4% -15.4%
Normalised per pupil 1,397 0.257 1,362 0.252 1,294 0.226 -5.0% -10.2%
Total Scope 1&2 (market-based) 45,914,599 5658 44,596,383 5661 39,939,680 5059 -10.4% -10.6%
Normalised per pupil 1,397 0.172 1,362 0.173 1,294 0.164 -5.0% -5.2%
Total Scope 1,2&3 (location-based) 46,597,688 8641 45,378,774 8438 40,550,196 7126 -10.6% -15.6%
Normalised per pupil 1,418 0.263 1,386 0.258 1,314 0.231 -5.2% -10.4%
Total Scope 1,2&3 (market-based) 46,597,688 5836 45,378,774 5849 40,550,196 5207 -10.6% -11.0%
Normalised per pupil 1,418 0.178 1,386 0.179 1,314 0.169 -5.2% -5.5%
----- End of picture text -----

Our methodologies for calculating these statistics:

The primary methodology used in compiling this energy performance data was the Greenhouse Gas Reporting Protocol – Corporate Standard. The emissions factors have been sourced from DESNZ using the 2025 ‘Greenhouse gas reporting: conversion factors’ tools and market-based electricity emissions factors direct from our energy broker through a certificate of origin, certified by the Carbon Trust. The intensity ratio metric is student numbers (tCO2e/student) as per the recommendation for the Education sector.

F-gas from PFI academy air conditioning units is omitted due to inadequate data, however this is considered de minimis and therefore would not have a significant impact on the figures reported.

As part of an ongoing review of data quality we have identified and updated some missing or estimated data in the previous years’ energy consumption, also in some cases August 2025’s data had to be estimated as up to date data for this month was unavailable at the time of reporting. Therefore, figures, as appropriate, have been re-baselined for improved accuracy and will show as different from previous SECR submissions and reporting.

All calculations and resultant analysis have been performed by a practitioner member of the Institute of Sustainability and Environmental Professionals (PISEP).

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DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Energy Efficiency Measures

Oasis continues to take energy saving actions throughout each year and also utilises a range of measures to continually improve its energy data accuracy and subsequent energy efficiency operationally. In 2024/25 these included:

Carbon Saving Measures

Energy efficiencies will naturally lead to reductions in our carbon emissions and this is where our efforts remain concentrated as we enact the no-low cost but still carbon-saving significant changes. As we gain in knowledge and understanding of our carbon footprint as a whole there are several activities we have undertaken, and continue to undertake, to decarbonise our operations and ensure our staff, students and partners are taking climate action. These include the following:

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DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Finally, all our academies are creating their individual climate action plans, a DfE Sustainability and Climate Change Strategy requirement for 2025, all of these with cover decarbonisation as well as the other three areas. We will track, monitor and support academies with these throughout the year.

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:

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DIRECTORS’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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.

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 29 June 2026 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 29

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 2025 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:

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 group and 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.

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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:

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:

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 2024 to 2025 and the Academy Trust Handbook, issued by the DfE. And for ORT only, the Secure School Financial Handbook 2023, issued by the Ministry of Justice (MOJ)

Page 31

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:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 32

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.

Glen Bott (Senior Statutory Auditor) for and on behalf of Cooper Parry Group Limited CUBO Birmingham 4th Floor Two Chamberlain Square Birmingham B3 3 AX

Page 33

OASIS CHARITABLE TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating a Consolidated Income & Expenditure Account)

FOR THE YEAR ENDED 31 AUGUST 2025

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
18
Actuarial (loss)/gain on defined
benefit pension schemes
30
Net movement in funds
At 1 September 2024
At 31 August 2025		 General
£000
5,167
3,538
2,832
5,852
17,389
5,351
255
8,518
14,124
3,265
(1,076)
-
2,189
13,241
15,430		 Designated
£000
794
-
-
297
1,091
-
-
1,069
1,069
22
(23)
-
(1)
2,608
2,607		 Designated
£000
794
-
-
297
1,091
-
-
1,069
1,069
22
(23)
-
(1)
2,608
2,607		 Restricted
funds
£000
46,272
1,552
-
278,193
326,017
-
-
298,658
298,658
27,359
1,099
(2,854)
25,604
402,065
427,669		 Total 2025
£000
52,233
5,090
2,832
284,342
344,497
5,351
255
308,245
313,851
30,646
-
(2,854)
27,792
417,914
445,706		 Total 2024
£000
53,764
5,297
3,298
272,660
335,019
3,769
303
329,159
333,231
1,788
-
1,921
(1)
2,608		 3,709
414,205
2,607 417,914

The notes on pages 38 to 73 form an integral part of these financial statements.

Page 34

OASIS CHARITABLE TRUST

COMPANY NUMBER: 02818823

CONSOLIDATED BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stock
Short term investment
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 EXCLUDING PENSION
LIABILITY
Pension scheme liability
16
NET ASSETS INCLUDING PENSION
LIABILITY
FUNDS
Unrestricted funds
18
General
Designated
Restricted funds
19
TOTAL GROUP FUNDS		 2025
£000
£000
396,070
18
232
18,713
67,974
86,937
(36,819)
50,118
446,188
(482)
445,706
-
445,706
15,430
2,607
18,037
427,669
445,706		 2025
£000
£000
396,070
18
232
18,713
67,974
86,937
(36,819)
50,118
446,188
(482)
445,706
-
445,706
15,430
2,607
18,037
427,669
445,706		 2025
£000
£000
396,070
18
232
18,713
67,974
86,937
(36,819)
50,118
446,188
(482)
445,706
-
445,706
15,430
2,607
18,037
427,669
445,706		 2024
£000
£000
377,852
38
-
19,497
59,676
79,211
(38,323)
40,888
418,740
(530)
418,210
(296)
417,914
13,241
2,608
15,849
402,065
417,914		 2024
£000
£000
377,852
38
-
19,497
59,676
79,211
(38,323)
40,888
418,740
(530)
418,210
(296)
417,914
13,241
2,608
15,849
402,065
417,914		 2024
£000
£000
377,852
38
-
19,497
59,676
79,211
(38,323)
40,888
418,740
(530)
418,210
(296)
417,914
13,241
2,608
15,849
402,065
417,914
86,937
(36,819)		 79,211
(38,323)
446,188
(482)		 418,740
(530)
445,706
-		 418,210
(296)
417,914
445,706
15,430
2,607		 13,241
2,608
18,037
427,669		 15,849
402,065
417,914
445,706

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026

M McAllister Chairman

The notes on pages 38 to 73 form an integral part of these financial statements.

Page 35

OASIS CHARITABLE TRUST

COMPANY NUMBER: 02818823

COMPANY BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
FIXED ASSETS
Tangible Assets
13
CURRENT ASSETS
Debtors
14
M&G Charities - short term investment
Cash at bank and in hand
CREDITORS: amounts falling due
within one year
15
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds
General
20
Designated
20
Restricted funds
20
TOTAL CHARITY FUNDS		 2025
£000
£000
9,519
267
232
632
1,131
(630)
501
10,020
186
210
396
9,624
10,020		 2024
£000
£000
-
119
-
834
953
(467)
486
486
272
159
431
55
486

The result of the company for the year was a surplus of £9,535,304 (2024: deficit of £3,719).

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026.

M McAllister Chairman

The notes on pages 38 to 73 form an integral part of these financial statements.

Page 36

OASIS CHARITABLE TRUST

CONSOLIDATED AND COMPANY STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flow statement
Net cash provided by / (used in)
operating activities
22
Net cash (used in) / provided by
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 2024
At 31 August 2025
Consisting of:
Cash and cash equivalents
Bank loan		 Company
2025
£000
(289)
87
-
(202)
(202)
834
632
632
-
632		 Group
2025
£000
238
8,017
37
8,292
8,292
59,633
67,925
67,974
(49)
67,925		 Company
2024
£000
42
-
-
42
42
792
834
834
-
834		 Group
2024
£000
(540)
(5,340)
43
(5,837)
(5,837)
65,470
59,633
59,676
(43)
59,633

The notes on pages 38 to 73 form an integral part of these financial statements.

Page 37

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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 31 August 2025 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.

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 2025. 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 DfE 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 DfE 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. It is also appropriate to include Oasis Restore Trust (ORT), a secure school, within the results of the group. Funding to operate ORT comes from the MOJ and is restricted to the operations of ORT.

Within the OCP Consolidation the transfer in of Knights Youth Centre is included for the period 1 April 2025 to 31 August 2025, as is the Lambeth & Croydon Foodbank which merged into Oasis Community Hub: Waterloo.

ORT prepares its financial statements to 31 March, and an exercise is performed to align the financial data for inclusion in these 31 August group financial statements.

Going concern

The Directors have considered the risks to the group 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 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 June 2027) 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 38

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (continued)

Going concern (continued)

The largest entity of the group, Oasis Community Learning, a multi-academy trust, has fully considered the going concern status of the organisation in the light of the following matters:

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. For other entities in the group, the Directors have confirmed that the major sources of grant funding are committed through the budgeting process.

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 after considering the impact of changes made to National Insurance Contributions and changes in funding from the Government and Local Authorities.

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 17.

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 39

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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 40

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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 41

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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.

Group Transfers, conversions and gifted assets

The assets and liabilities transferred from Local Authorities, Ministry of Justice (in 2024) and St Martin’s to the company have been valued at their fair value (being fair value in use or Depreciated Replacement Cost) and held at deemed cost.

Their fair value is in accordance with the accounting policies set out for the Company. The amounts have been recognised under the appropriate balance sheet categories, with a corresponding amount recognised in the Statement of Financial Activities and analysed under unrestricted funds, restricted general funds and restricted fixed asset funds.

Cash and other balances, including investments have been recognised at fair value on their transfer and accounted for under the terms of the transfer agreements.

Where entities have joined the Oasis Community Partnership sub-group, whether as a transfer of assets and activities to existing charities, or where control is gained over existing charitable companies, these have also been accounted for as a transfer, that is effectively a gift, with the relevant assets and liabilities recognised as a donation on the day the group assumed control.

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 and Oasis Restore Trust 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.

Page 42

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (continued)

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 30, 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.

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.

Where the present value of the defined benefit obligations at the Balance Sheet date is less than the fair value of scheme assets at that date, the scheme has a surplus. The scheme surplus is recognised as a defined benefit plan asset by the Company only to the extent that the Company is able to recover the surplus either through reduced contributions in the future or through refunds from the scheme.

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.

Page 43

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (continued)

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 DfE. Payments received from DfE 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.

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:

Page 44

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (continued)

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.

2. DONATIONS AND GRANTS

Donations and gifts
Grants
Transfers into group
(see note 31)		 Unrestricted
funds
£000
2,875
789
1,503
5,167		 Designated
funds
£000
299
-
495
794		 Restricted
funds
£000
681
25,212
20,379
46,272		 Total
2025
£000
3,855
26,001
22,377
52,233		 Total
2024
£000
2,982
22,539
28,243
53,764

Of the £53,764k received in the prior year, £3,631k was unrestricted income, £3k was designated income and £50,130k was restricted income. Transfers into the group represent amounts recognised from new schools joining Oasis Community Learning, the gift of Oasis St Martin’s and in-year acquisitions of Oasis Community Partnership accounted for in substance as a gift relating to Knights Youth Centre and the Lambeth and Croydon Foodbank.

3. OTHER TRADING

Rent and ass. services income Unrestricted
funds
£000
3,538
3,538		 Designated
funds
£000
-
-		 Restricted
funds
£000
1,552
1,552		 Total
2025
£000
5,090
5,090		 Total
2024
£000
5,297
5,297

Of the £5,297k received in the prior year, £3,214k was unrestricted income, £2,083k was restricted income.

Page 45

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Rental income
Service level agreements
Educational operations (see
breakdown below)
Other goods and services		 Unrestricted
funds
£000
1,894
2,800
-
1,158
5,852		 Designated
funds
£000
28
17
-
252
297		 Restricted
funds
£000
36
351
276,968
838
278,193		 Total
2025
£000
1,958
3,168
276,968
2,248
284,342		 Total
2024
£000
2,123
1,968
266,854
1,715
272,660

Of the total income of £272,660k received in the prior year, £5,003k was unrestricted income, £83k was designated and £267,574k was restricted income.

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

DfE Grants
General Annual Grant
Teachers pay grant
Start-up Grants
Other DfE Grants:
UIFSM
Pupil Premium
Supplementary grant
16-19 core funding
Other funding
Other Government Grants
Local Authority Grants
Special Educational Grants
And Projects
Other Income
Catering income		 Unrestricted
Funds
£’000
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£’000
210,790
8,133
142
1,291
18,293
7,692
4,060
3,017
253,418
19,827
831
20,658
2,892
276,968		 Total
2025
£’000
210,790
8,133
142
1,291
18,293
7,692
4,060
3,017
253,418
19,827
831
20,658
2,892
276,968		 Total
2024
£’000
206,073
5,742
445
1,523
17,785
7,048
5,141
3,689
247,446
16,118
402
16,520
2,888
266,854

Page 46

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5. EXPENDITURE ON RAISING FUNDS

Income generation
Communication		 Unrestricted
funds
£000
4,013
1,338
5,351		 Designated
funds
£000
-
-
-		 Restricted
funds
£000
-
-
-		 Total
2025
£000
4,013
1,338
5,351		 Total
2024
£000
2,827
942
3,769

The £3,769k of expenditure on raising funds in the prior year was all unrestricted expenditure.

Cost of raising funds analysis

Income generation
Communication		 Staff
costs
£000
973
324
1,297		 Other
direct
costs
£000
1,171
391
1,562		 Premises
costs
£000
384
128
512		 Support
costs
£000
1,485
495
1,980		 Total
2025
£000
4,013
1,338
5,351		 Total
2024
£000
2,827
942
3,769

6. FUNDRAISING TRADING COSTS

Trading costs Unrestricted
funds
£000
255		 Designated
funds
£000
-		 Restricted
funds
£000
-		 Total
2025
£000
255		 Total
2024
£000
303

The £303k expenditure on fundraising trading costs in the prior year was unrestricted.

Page 47

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

7. CHARITABLE EXPENDITURE

Oasis Charitable Trust
Oasis International Association
Oasis Community Learning
Oasis IT Services
Oasis Restore
Stop the Traffik
Traffik Analysis Hub
Oasis Community Housing
Oasis Community Partnerships		 Unrestricted
funds
£000
1,452
1
-
66
-
902
6
3,750
2,341
8,518		 Designated
Funds
£000
1,019
-
-
-
-
-
-
50
-
1,069		 Restricted
funds
£000
1,110
109
278,612
-
13,225
135
-
788
4,679
298,658		 Total
2025
£000
3,581
110
278,612
66
13,225
1,037
6
4,588
7,020
308,245		 Total
2024
£000
2,229
150
308,521
116
7,901
915
8
4,118
5,201
329,159

Of the £329,159k charitable expenditure in the prior year, £6,765k was unrestricted, £355k designated and £322,039k restricted.

Charitable expenditure analysis

Oasis Charitable Trust
Oasis International Association
Oasis Community Learning
Oasis IT Services
Oasis Restore
Stop the Traffik
Traffik Analysis Hub
Oasis Community Housing
Oasis Community Partnerships		 Staff
Other
direct Premises
Support
Total
Total
costs
costs
costs
costs
2025
2024
£000
£000
£000
£000
£000
£000
1,726
1,218
281
356
3,581
2,229
-
110
-
-
110
150
152,545
27,079
22,670
76,318
278,612
308,521
-
66
-
-
66
116
6,075
5,494
778
878
13,225
7,901
827
143
12
55
1,037
915
-
-
-
6
6
8
2,862
765
87
874
4,588
4,118
4,348
2,235
331
106
7,020
5,201
168,383
37,110
24,159
78,593
308,245
329,159

Page 48

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8. SUPPORT COSTS ALLOCATION

Cost of raising funds
Fundraising & Marketing
Communications
Charitable activities
Oasis Charitable Trust
Oasis International Association
Oasis Community Learning
Oasis IT Services
Oasis Restore
Stop the Traffik
Traffik Analysis Hub
Oasis Community Housing
Oasis Community Partnership		 Staff
£000
1,114
371
1,485
312
-
41,731
-
747
49
-
473
50
43,362		 Other
£000
371
124
495
-
-
34,245
-
88
-
2
346
50
34,731		 Governance
£000
-
-
-
44
-
342
-
43
6
4
55
6
500		 Total
2025
£000
1,485
495
1,980
356
-
76,318
-
878
55
6
874
106
78,593		 Total
2024
£000
106
36
142
380
-
106,491
-
546
48
8
840
128
108,441

9. GOVERNANCE

Remuneration paid to Group
auditor:
Parent audit fees
Subsidiaries audit fees
Non-audit services
Remuneration paid to subsidiary company auditors
Audit fees
Legal fees
Trustees indemnity insurance
Other costs		 Total
2025
£000
44
107
31
55
230
5
2
490		 Total
2024
£000
36
103
28
70
244
5
4
490

Page 49

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

10. STAFF COSTS (GROUP)

Wages and salaries
Social security costs
Pension costs
Restructuring costs
Total staff costs		 2025
£000
163,398
19,305
31,386
438
214,527		 2024
£000
159,044
16,617
29,608
525
205,794

The pension costs above include £30,250,000 (2024: £28,673,000) for the Oasis Community Learning defined benefit schemes, £607,000 for Oasis Restore Trust in respect of defined benefit schemes and £529,000 (2024: £440,000) for the defined contribution scheme which is operated by other entities in the Oasis Charitable Trust. 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		 2025
2024
£000
£000
350
255
88
270
438
525

Included in staff restructuring costs are non-statutory/non-contractual severance payments totalling £88,131 (2024: £100,404). Individually these were for £32,659, £15,722, £13,500, £13,500, £9,782 and £2,968. 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		 2025
No.
1,725
2,739
269
8
237
4,978		 2024
No.
1,824
2,623
240
7
200
4,894

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

Page 50

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

10. STAFF COSTS (GROUP) (continued)

Higher paid staff

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

2025 2024
£60,001 - £70,000 204 168
£70,001 - £80,000 112 78
£80,001 - £90,000 38 39
£90,001 - £100,000 27 19
£100,001-£110,000 15 14
£110,001-£120,000 11 10
£120,001-£130,000 5 6
£130,001-£140,000 6 8
£140,001-£150,000 6 1
£150,001-£160,000 2 3
£160,001-£170,000 1 -
£170,001-£180,000 1 -
£180,001-£190,000 1 1
£200,001-£210,000 1 -

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 £3,671,653 (2024: £3,054,860).

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. 21 (2024: 22) Directors were reimbursed for travel and subsistence of £6,802 (2024: £13,038) during the year.

Trustee donations made during the year amounted to £21,335 and were given free of terms or restrictions.

During the year the Group paid professional indemnity insurance on behalf of the Directors amounting to £5,000 (2024: £5,000).

Page 51

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12. NET MOVEMENT IN FUNDS

NET MOVEMENT IN FUNDS
2025 2024
£000 £000
Net movement in funds is arrived at after charging:
Depreciation of fixed assets 10,638 8,573
Auditors’ remuneration:
- Audit fees for this year (parent) 44 36
- Audit fees for this year (subsidiaries) 162 173
- Professional fees for non-audit 31 28
Operating Leases:
-
Plant and machinery		 257
-
Other Leases		 1,265
Interest payable on bank loan 37 43
Transfer out on academies leaving the Trust (OCL prior yr) - 30,418

13. TANGIBLE FIXED ASSETS

Group
Cost
At 1 September 2024
Additions
Gifted Assets/Transfers
in
Transfers between
classes
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
Impairment
On disposals
At 31 August 2025
Net book value
At 1 September 2024
At 31 August 2025		 Freehold
Property and
Improvements
£000
2,347
150
9,500
-
-
11,997
132
173
-
305
2,215
11,692		 Leasehold
Land and
Buildings
£000
466,656
6,683
10,150
(72)
(12)
483,405
106,437
6,466
1,591
105
114,599
360,219
368,806		 Computer
Equipment
£000
8,612
2,539
-
17
(175)
10,993
1,568
2,068
(175)
3,461
7,044
7,532		 Furniture
and Motor
Vehicles
£000
16,434
984
50
55
(1,317)
16,206
8,060
1,391
(1,285)
8,166
8,374
8,040		 Total
£000
494,049
10,356
19,700
-
(1,504)
522,601
116,197
10,638
1,591
(1,355)
126,531
377,852
396,070

In leasehold land and buildings there was freehold land relating to Oasis Academy Silvertown with a closing net book value at 31 August 2025 of £252,653 which was acquired in 2019 when the academy transferred into

Page 52

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

the Trust. Due to this value being immaterial, we have not disclosed this separately. Included in leasehold land and buildings is £623,000 (2024: £3,678,000) relating to assets under construction.

Additions under leasehold land and buildings in the year are in respect of leasehold building improvements.

Gifted Assets/Transfers in include Oasis St Martin’s Village in Tulse Hill recognised on the transfer of the charity to Oasis Charity Trust and described in further detail in the Funds note. Valued by the Valuations Office Agency. Also included is a Lease in relation to Knights Youth Centre which became part of the Oasis Community Partnership group, consolidated within these financial statements in the year.

Transfers in on conversion are relating to our two new joiner academies, Oasis Academy Benson and Oasis Academy Wattville. Leasehold land and buildings were transferred in on conversion date of 1st January 2025, the date at which the land and buildings were valued by the Valuations Office Agency.

Company Only Fixed Asset Schedule

OCT only
Cost
At 1 September 2024
Additions
Gifted Assets
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 1 September 2024
At 31 August 2025		 Freehold
Land and
Buildings
£000
-
-
9,500
9,500
-
130
130
-
9,370		 Building
Improvements
£000
-
151
-
151
-
2
2
-
149		 Total
£000
-
151
9,500
9,651
-
132
132
-
9,519

Page 53

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

14. DEBTORS

Trade debtors
Sundry debtors
Due from group undertakings
Prepayments and accrued income		 Company
2025
£000
153
26
82
6
267		 Group
2025
£000
1,485
2,630
-
14,598
18,713		 Company
2024
£000
45
4
40
30
119		 Group
2024
£000
2,001
4,659
-
12,837
19,497

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
2025
£000
-
87
276
48
47
172
630
120
-
(120)
-		 Group
2025
£000
49
14,099
-
4,533
13,002
5,136
36,819
7,603
6,265
(7,603)
6,265		 Company
2024
£000
-
27
190
29
156
65
467
135
120
(135)
120		 Group
2024
£000
43
13,711
-
3,656
15,994
4,919
38,323
6,799
7,603
(6,799)
7,603

Deferred income relates to income received from donors and sponsors which is subject to conditions which prevent their use until a later date. £4,485k of the deferred income above relates to OCL. OCL was holding funds received in advance for rates rebates, academy growth, early years & two-year-old provision funding, trip and project income for established academies. Also included is the potential clawback by MoJ from ORT.

All Salix loans in respect of Oasis Academy Blakenhale, Oasis Academy Boulton, Oasis Academy Long Cross and Oasis Academy Sholing were fully paid during 2024/25, therefore there was a £nil balance remaining on loans at the year end.

Page 54

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

16. CREDITORS: amounts falling due after one year

Bank loans
Other creditors
Pension scheme liability (Note 30)		 Company
2025
£000
-
-
-
-		 Group
2025
£000
448
34
482
-		 Company
2024
£000
-
-
-
-		 Group
2024
£000
522
8
530
296

The bank loan is secured by way of a legal charge over part of the property portfolio. The repayments are spread over 25 years but the remaining balance is fully repayable after 10 years (August 2026). Interest is payable at 2.25% above base rate on the principal amount.

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)

Funds at 31 August 2025
Unrestricted funds
Designated funds
Funds at 31 August 2024
Unrestricted funds
Designated funds		 Balance at
1 September
2024
£’000
13,241
2,608
15,849
Balance at
1 September
2023
£’000
10,160
2,563
12,723		 Incoming
resources
£’000
17,389
1,091
18,480
Incoming
resources
£’000
15,146
86
15,232		 Resources
expended
£’000
(14,124)
(1,069)
(15,193)
Resources
expended
£’000
(10,837)
(355)
(11,192)		 Gains,
losses and
transfers
£’000
(1,076)
(23)
(1,099)
Gains,
losses and
transfers
£’000
(1,228)
314
(914)		 Balance
31 August
2025
£’000
15,430
2,607
18,037
Balance
31 August
2024
£’000
13,241
2,608
15,849

Designated funds are held within three entities: OCT, OCP and OCH. The designated funds within OCT relate to funds set aside to deliver some key projects identified in 2025, including Oasis St Martins. The designated funds within OCP relate to the fund held in Mulberry Bush 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 and maintenance fund.

Page 55

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. UNRESTRICTED FUNDS (Group) (continued)

Transfer between funds are:

Oasis Community Learning
Oasis Community Partnerships
Oasis International Association
Oasis Aquila Housing		 Unrestricted Funds
General
Designated
2025
2025
£000
£000
(1,178)
-
92
(17)
4
-
6
(6)
(1,076)
(23)		 Restricted
Funds
2025
£000
1,178
(75)
(4)
-
1,099		 Total
2025
£000
-
-
-
-
-		 Total
2024
£000
-
-
-
-
-

The OCL transfer of £1,178,000 is a transfer to support restricted asset funds.

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 where these are permissible by the funding agreements.

The transfer in OAH to designated funds relates to a small transfer from designated to be spent next year.

19. RESTRICTED FUNDS (Group)

Oasis Charitable Trust
Oasis International Assoc.
OCL
OCL Pension Fund
Oasis Restore
Stop the Traffik Campaign
Oasis Aquila Housing
Oasis Community Partnerships		 1 Sept
2024
£000
55
6
365,820
(296)
33,416
13
742
2,309
402,065		 Income
£000
10,679
114
294,942
-
13,676
169
542
5,895
326,017		 Expenditure
£000
(1,110)
(108)
(281,763)
3,150
(13,225)
(135)
(788)
(4,679)
(298,658)		 Gains,
(Losses),
Transfers
£000
-
(4)
1,178
(2,854)
-
-
-
(75)
(1,755)		 31 Aug
2025
£000
9,624
8
380,177
-
33,867
47
496
3,450
427,699

OCT’s restricted funds are for the work in relation to Centre for Young Lives, St Martins’s asset as OCT are the corporate trustee. In future St Martin’s amounts will be transferred to unrestricted once requirements in relation to the transfer have been satisfied and the work with the Charity Commission is complete.

ORT’s restricted funds relate to The Ministry of Justice grant funding and must be used for necessary expenditure incurred by the Secure Academy Trust and to support the Mobilisation plans in line with the terms and conditions of the Trust's funding agreement.

Page 56

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

19. RESTRICTED FUNDS (Group)

OCH’s restricted funds relate to various restricted housing funds:

Home: The Home Fund represents funding received to increase access to housing. This includes funds to improve and refurbish our portfolio of properties, as well as funding for mental health support and our Transitions Fund.

Basis: The Basis Fund represents funding received to provide services to people in crisis, those who are either homeless or likely to be. It includes funds received for the operating of our Basis Drop In’s in Gateshead and Sunderland. It includes funds received to provide our Housing First type model – Basis Beds and our direct access homeless accommodation.

Empower: The Empower fund represents funding received to work with victims of domestic abuse and sexual violence.

Aspire: The Aspire Fund represents funds received to deliver employability services to those who face barriers to employment across the Northeast.

OCP’s restricted funds are restricted within the various community hubs to support a huge range of youth and community work throughout the country.

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 DfE Grants
Local Authority Grants
Other Government Grants
Other Income from Academy
Trust’s Educational Operations
Other restricted income
Pension reserve
Restricted fixed asset funds
Building Sinking Fund from GAG
ICT Capital Grants
DfE 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
2024
£’000
6,440
-
-
-
-
-
-
(13)
(296)
6,131
2,425
1,275
11,449
-
436
342,390
468
358,443
364,574
12,217
376,791		 Incoming
resources
£’000
210,790
1,291
18,293
23,044
19,827
831
2,892
1,552
-
278,520
-
-
5,748
920
-
9,754
-
16,422
294,942
8,677
303,619		 Resources
expended
£’000
(202,300)
(1,291)
(18,293)
(23,044)
(19,827)
(831)
(2,892)
(1,567)
3,150
(266,895)
-
-
(1,770)
(920)
(478)
(8,759)
-
(11,927)
(278,822)
(5,273)
(284,095)		 Gains,
losses and
transfers
£’000
(2,215)
-
-
-
-
-
-
28
(2,854)
(5,041)
(1,336)
465
(5,142)
-
288
9,010
80
3,365
(1,676)
(1,178)
(2,854)		 Balance
31 August
2025
£’000
12,715
-
-
-
-
-
-
-
-
12,715
1,089
1,740
10,285
-
246
352,395
548
366,303
379,018
14,443
393,461

Page 57

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

19. RESTRICTED FUNDS (Group) (continued)

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 2025.

Other Restricted Funds

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

DfE Capital Grants

DfE Capital Income received during the year totalled £5,748,000 including £4,438,000 from the School Condition Allocation and £676,000 from Devolved formula capital grants. A further £634,000 was received in respect of on-going developments, specifically on the conversion of Oasis Academy Temple Quarter and Oasis Academy Daventry Road. At year-end unspent funds related to the School Condition Allocation earmarked for academy improvements. These resources are scheduled for deployment in the coming year as part of a series of major capital investment programmes across the estate.

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 2025
Unrestricted funds
Designated funds
Restricted funds		 Balance at
1 September
2024
£’000
272
159
55
486		 Incoming
resources
£’000
1,412
1,071
10,679
13,162		 Resources
expended
£’000
(1,498)
(1,020)
(1,110)
(3,628)		 Gains,
losses and
transfers
£’000
-
-
-
-		 Balance
31 August
2025
£’000
186
210
9,624
10,020
Funds at 31 August 2024
Unrestricted funds
Designated funds
Restricted funds		 Balance at
1 September
2023
£’000
345
110
34
489		 Incoming
resources
£’000
1,309
87
876
2,272		 Resources
expended
£’000
(1,431)
11
(855)
(2,275)		 Gains,
losses and
transfers
£’000
49
(49)
-
-		 Balance
31 August
2024
£’000
272
159
55
486

Page 58

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS – GROUP 2025

Tangible fixed assets
Current assets
Current liabilities
Long term liabilities		 Unrestricted
funds
Designated
funds
Restricted
funds
Total
funds
2025
2025
2025
2025
£000
£000
£000
£000
551
2,151
393,368
396,070
17,034
456
69,447
86,937
(1,707)
-
(35,112)
(36,819)
(448)
-
(34)
(482)
15,430
2,607
427,669
445,706

ANALYSIS OF NET ASSETS BETWEEN FUNDS – GROUP 2024

Tangible fixed assets
Current assets
Current liabilities
Long term liabilities		 Unrestricted
funds
Designated
funds
Restricted
funds
Total
funds
2024
2024
2024
2024
£000
£000
£000
£000
497
2,107
375,248
377,852
14,544
338
64,329
79,211
(1,278)
163
(37,208)
(38,323)
(522)
-
(304)
(826)
13,241
2,608
402,065
417,914

22. GROSS CASH FLOWS

Cash flows from operating activities
Net income
Depreciation
Transfers out of trust
Donations in kind
Capital Grants from DfE
Fixed Assets received on conversion from
LA
Gifted assets
Interest receivable
Net Pension cost
Increase in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net Cash provided by / (used in)
Operating Activities		 Company
2025
£000
9,535
130
-
-
-
-
(9,965))
(5)
-
-
(147)
163
(289)		 Group
2025
£000
30,646
12,229
12
(9,995)
(6,668)
(9,754)
(10,096)
(2,832)
(2,550)
20
784
(1,558)
238		 Company
2024
£000
(3)
-
-
-
-
-
-
-
-
-
(39)
84
42		 Group
2024
£000
1,788
8,573
29,429
(28,243)
(6,063)
-
-
(3,298)
(1,853)
(4)
(5,027)
4,158
(540)

Page 59

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

22. GROSS CASH FLOWS (Continued)

Cash flows from investing activities
Interest received
Short term investment
Acquisition of tangible fixed assets
Sale of tangible fixed assets
Capital grants from DfE
Net Cash (used in)/provided by
Investing Activities
Cash flows from financing activities
Other creditors
Interest on loan		 5
232
(150)
-
-		 2,832
232
(211)
(1,504)
6,668		 -
-
-
-
-		 3,298
-
(14,682)
(19)
6,063
87
-
-
-		 8,017
-
37
37		 -
-
-
-		 (5,340)
-
43
43

23. ANALYSIS OF CHANGES IN NET DEBT

Cash and cash equivalents
Debt within 1 year
Debt due after 1 year
Total		 1 Sep 2024
£000
59,676
(43)
59,633
(522)
59,111		 Cash
flows
£000
8,298
(6)
8,292
74
8,366		 Non-cash
movements
£000
-
-
-
-
-		 31 August
2025
£000
67,974
(49)
67,925
(448)
67,477

24. CAPITAL COMMITMENTS

OCT has a contractual capital commitment at the 31 August 2025 of £37,000 (2024: £nil) for completion of building works of the Nurture Block at Oasis St Martin’s Village.

OCL has contractual capital commitments at the 31 August 2025 of £354,726 (2024: £1,124,581). Capital commitment arose in both years due to the timing of building projects which were on-going over the year-end.

Page 60

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

25. FINANCIAL COMMITMENTS

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

Operating Leases – Oasis Community Learning

At 31 August 2025 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		 2025
£’000
543
1,179
-
1,721		 2024
£’000
253
151
-
404

Private Finance Initiative

At 31 August 2025 the total of OCL’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		 2025
£’000
6,328
23,167
28,265
57,760		 2024
£’000
5,655
21,326
31,274
58,255

25. FINANCIAL COMMITMENTS (continued)

The academy Trust occupies premises which are subject to a private finance initiative (PFI) contract. The Trust itself is not party to this service concession contract, however the academy Trust has entered into a supporting agreement towards the costs of the local authority. The above relates to commitments to operating payments including costs for catering, cleaning, utilities, and other ancillary services.

26. CONTINGENT LIABILITY

There are no contingent liabilities to report for the year ended 31 August 2025 or for the previous year ended 31 August 2024.

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 61

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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) 13,163 (3,628) 9,535 10,650 (630) 10,020
Oasis Community Learning
(company number: 5398529) 303,619 (284,095) 19,524 426,711 (33,250) 393,461
STOP THE TRAFFIK (company
number: 6657145, charity
number: 1127321) 1,193 (1,186) 7 686 (210) 476
Traffik Analysis Hub (company
number:114511182, charity
number: 1192933) 153 (168) (15) 276 248 28
Oasis Restore Trust (company
number: 14489313) 13,761 (13,301) 460 35,973 (2,020) 33,953
Oasis Aquila Housing (company
number: 05300083, charity
number: 1107554) 4,482 (4,891) (409) 3,916 (941) 2,975
Oasis Community Partnerships
(company number: 08749179,
charity number: 1163889) –
consolidated results 8,917 (7,374) 1,543 5,205 (500) 4,705
Oasis IT Services Limited
(company number: 05720249) 66 (66) 0 95 (17) 78

Page 62

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

28. SUBSIDIARY SUMMARY (continued)

OCP Subsidiaries

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

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 Fir Vale (Co No. 14538742, Charity No.1205205) 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 Isle of Sheppey (Co No. 14437401, Charity No. 1201598) 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)

Knights Youth Centre became a subsidy of OCP on 1 April 2025. We have included their results in the consolidation for the period 1 April 2025 until 31 August 2025. KYC were not subject to audit or examination for these 5 months as previously their reporting period was March.

All 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:

29. RELATED PARTY TRANSACTIONS (Continued)

Page 63

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

At year end a balance of £94,290 (2024: £21,712) was owed by OCT to OCL.

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

The following related party transactions took place within the group during the year:

During the year the wife of John Barneby (CEO) 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 spouses.

OCL is a corporate member of School-Led Development Trust Limited (SLDT). The CEO is also an Ex-Officio Director of SLDT and this is an unpaid, non-executive position. During 2024/25 OCL recharged £168,294 (2024: £254,998) of staff and resources costs to SLDT. Additionally, SLDT Charged OCL £52,394 (2024: £25,984) for staff and resources.

Education Finance Solutions Ltd – a company of which Oasis Restore Trust's Chief Finance Officer has significant influence over, by virtue of his voting rights in the company. Oasis Restore Trust purchased finance agency services for two persons (2024 - two persons) from Education Finance Solutions Ltd totalling £86,025 (2024 - £112,272) during the period. An amount of £2,730 (2024 - £6,330) was outstanding at 31 August 2025. Costs associated with remuneration to agency staff who are also deemed to be key management have been included in the key management personnel remuneration and high paid staff disclosures.

Page 64

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

29. RELATED PARTY TRANSACTIONS (Continued)

Owing to the nature of the company and the composition of the Board of Directors 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 Academy Trust Handbook, including notifying the DFE 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

There were no other related party transactions other than those disclosed in Note 11.

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 and ORT participate in multi-employer defined benefit schemes, the details of which have been included for OCL. In line with previous years, amounts relating to the ORT pension scheme movements have not been included in these financial statements.

OCL employees belong to 17 principal pension schemes:

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 nonteaching staff.

All are multi-employer Defined Benefit Pension Schemes.

The latest actuarial valuation of the TPS related to the period ended 31 March 2020 and of the LGPS 31 March 2022.

The pension scheme liability (LGPS) of OCL and ORT is represented as follows:

Sensitivity analysis 31 August 31 August
2025 2024
£000 £000
Oasis Community Learning (296) -
Oasis Restore Trust - -

As noted above, no amounts have been recorded in these financial statements in respect of the movements in the year on ORT's pension scheme. As at 31 March 2025, the overall scheme assets were £1,473,000, an asset ceiling restriction was recognised in the individual ORT financial statements, such that a net balance of £nil was recorded, as reflected in the above summary.

The total pension cost during the year ended 31 August 2025 was £30,250,000 (2024: £28,673,000) of which £23,186,000 (2024: £20,394,000) relates to the TPS and £ 7,064,000 (2024: £8,606,000) relates to the LGPS.

Page 65

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

Contributions amounting to £4,032,000 were payable to the schemes at 31 August 2025 (2024: £3,701,000) and are included within creditors, of which £2,598,000 (2024: £2,518,000) relates to the TPS and £1,434,000 (2024: £1,183,000) relates to the LGPS. Amounts payable to the LGPS scheme in relation to lump sums at 31 August 2025 and included within creditors were £nil (2024: £296,000).

Teachers’ Pension Scheme (TPS)

The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2024. Membership is automatic for teachers in academies. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary – these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

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 2024 published by HM Treasury. 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 2020 and in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023. The valuation report was published by the Department for Education on 27 October 2023. The key elements of the valuation are:

The latest valuation of the TPS was implemented from 1 April 2024. The next valuation result is due to be implemented from 1 April 2027.

The employer’s pension costs paid to TPS in the period amounted to £23,186,000 (2024: £20,394,000).

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website: https://www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuationreport.aspx.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Company is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the Company has taken advantage of the exemption in FRS 102 and 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.

Page 66

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

Local Government Pension Scheme

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 and on 21 July 2023, the Department for Education reaffirmed its commitment to the guarantee, with a parliamentary minute published on GOV.UK.

The Company participates in 15 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 2025 was £14,807,000 (2024: £14,202,000) of which employer’s contribution totalled £11,138,000 (2024: £10,700,000) and employees’ contributions totalled £3,669,000 (2024: £3,502,000).

Employees pay between 5.5% and 12.5% based on their level of salary. Employer contributions up to 31 March 2026 are as follows:

Academy Pension Fund Employer’s
contribution
OA New Oak Avon 21.56%
OA John Williams Avon 21.56%
OA Connaught Avon 21.56%
OA Brightstowe Avon 21.56%
OA Bank Lease Avon 21.56%
OA Long Cross Avon 21.56%
OA Brislington Avon 21.56%
OA Marksbury Road Avon 21.56%
OA Shirley Park Croydon 23.20%
OA Coulsdon Croydon 21.70%
OA Byron Croydon 20.80%
OA Ryelands Croydon 25.60%
OA Arena Croydon 22.90%
OCL Head Office Enfield 16.80%
OA Hadley Enfield 16.80%
OA Enfield Enfield 16.80%
OA Wintringham East Riding 14.10%
OA Parkwood East Riding 14.10%
OA Nunsthorpe East Riding 14.10%
OA Immingham East Riding 14.10%
OA Henderson Avenue East Riding 14.10%
OA Oldham Greater Manchester 18.56%
OA Media City UK Greater Manchester 18.56%
OA Limeside Greater Manchester 18.56%
OA Harpur Mount Greater Manchester 18.56%
OA Aspinal Greater Manchester 18.56%

Page 67

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

OA Temple Greater Manchester 18.56%
OA Broadoak Greater Manchester 18.56%
OA Clarksfield Greater Manchester 18.56%
OA Leesbrook Greater Manchester 18.56%
OA Mayfield Hampshire 17.90%
OA Lords Hill Hampshire 17.90%
OA Sholing Hampshire 17.90%
OA Pinewood Havering 21.80%
OA Skinner Street Kent 22.50%
OA South Bank Lambeth 22.38%
OA Johanna Primary Lambeth 22.38%
OA Silvertown Newham 15.60%
OA Don Valley South Yorkshire 17.60%
OA Firvale South Yorkshire 17.60%
OA Watermead South Yorkshire 17.60%
OA Lister Park West Yorkshire 16.40%
OA Putney Wandsworth 21.00%
OA Short Heath West Midlands 22.10%
OA Woodview West Midlands 22.10%
OA Hobmoor West Midlands 22.10%
OA Boulton West Midlands 22.10%
OA Blakenhale Juniors West Midlands 22.10%
OA Blakenhale Infants West Midlands 22.10%
OA Foundry West Midlands 22.10%
OA Benson West Midlands 22.10%
OA Wattville West Midlands 22.20%
OA Warndon Worcestershire 20.30%
Oasis Restore Trust Kent 13.20%

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

Principal Actuarial Assumptions

cipal Actuarial Assumptions
31 August 31 August
2025 2024
Rate of increase in salaries 3.65% 3.65%
Rate of increase for pension in payment/inflation 2.65% 2.65%
Discount rate for scheme liabilities 5.95% 5.00%
Inflation assumptions (CPI) 2.65% 2.65%

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OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

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
2025 2024
Retiring today
Males 20.9 20.6
Females 23.5 23.4
Retiring in 20 years
Males 21.6 21.3
Females 24.8 24.7
Sensitivity analysis 31 August 31 August
2025 2024
Discount rate + 0.1% (3,136) (3,766)
Discount rate - 0.1% 3,220 3,870
Mortality assumption, 1 year increase 2,944 3,839
Mortality assumption, 1 year decrease (2,689) (3,486)
CPI rate + 0.1% 3,250 3,863
CPI rate - 0.1% (3,170) (3,765)

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 £29,381,000 (2024 gain: £6,988,000), 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		 2025
Fair Value
Share
£’000
%
83,905
55.4
47,672
31.5
12,285
8.3
4,483
3.0
2,719
1.8
151,364		 2024
Fair Value
Share
£’000
%
89,701
54.3
49,345
29.9
13,777
8.3
5,321
3.2
7,062
4.3
165,206

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OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

Amounts recognised in the Statement of Financial Activities

Current service cost
Net interest (income)/cost
Past service cost
Administration cost		 2025
£’000
7,670
(997)
226
339
7,238		 2024
£’000
7,409
-
212
321
7,942

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

At 1 September 2024
Upon conversion
Current service cost
Past service cost
Interest cost
Employee contributions
Actual (gain)/ loss
Benefits paid
Transfers out during the year
At 31 August 2025		 2025
£’000
165,503
2,948
7,670
226
8,420
3,669
(35,194)
(1,878)
-
151,364		 2024
£’000
161,018
-
7,409
212
8,454
3,502
(3,470)
(1,825)
(9,797)
165,503

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

At 1 September 2024
Upon conversion
Transfers out of academies in year
Expected return on assets
Actuarial gain
Employer contributions
Employee contributions
Benefits paid
Administration cost
At 31 August 2025		 2025
2024
£’000
£’000
165,207
156,949
2,948
-
-
(10,786)
8,667
8,537
(38,048)
(1,549)
11,138
10,700
3,669
3,502
(1,878)
(1,825)
(339)
(321)
151,364
165,207

Page 70

OASIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30. PENSION OBLIGATIONS (continued)

During the year, the current economic environment has led to a significant increase in AA-rated corporate bond yields, from which FRS102 discount rates are derived. This resulted in some of OCL’s Local Government Pension Scheme participations generating an accounting surplus for the very first time. Paragraph 28.22 of FRS102 permits the recognition of surplus to the extent that an entity is able to recover the surplus through either reduced contributions in the future or through refunds. As neither of these are regarded as possibilities, no surplus has been recognised for those academies showing a surplus position. The application of the asset ceiling calculation has resulted in full restriction such that the Balance Sheet recognises neither surplus nor deficit as at 31 August 2025 (2024: net deficit £296,000).

Included within actuarial losses on plan assets of £38,048,000 is £36,366,000 in respect of the restriction determined by the asset ceiling calculation

31. TRANSFERS INTO THE GROUP

Amounts recognised as transfers into the group, which have been accounted for as a transaction, that is in substance, a gift are summarised as follows:

OCL
OCT
OCP
ORT
Total		 2025
£’000
10,647
9,995
1,735
-
22,377		 2024
£’000
-
-
-
28,243
28,243

Oasis Community Learning Transfers:

On 1[st] January 2025 the Trust welcomed two new schools, Oasis Academy Benson and Oasis Academy Wattville, from Birmingham City Council. The schools converted to academy status under the Academies Act 2010 and all the operations and assets and liabilities were transferred to OCL for £nil consideration.

The transfer has been accounted for as a combination that is, in substance, a gift. The assets and liabilities transferred were valued at their fair value and recognised in the balance sheet under the appropriate headings with a corresponding net amount recognised as a net gain in the Statement of Financial Activities as donations transferred from local authority on conversion.

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OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

31. TRANSFERS INTO THE GROUP (continued)

The following table sets out the fair values of the identifiable assets and liabilities transferred and an analysis of their recognition in the SOFA.

Restricted Fixed Assets Funds
Tangible fixed assets (NBV):
Leasehold land and buildings
Restricted General Funds
Pensions:
LGPS assets
LGPS liabilities
Unrestricted Funds
Accrued Income:
Reserves balance transfers in
Net assets/ (liabilities)		 Transfer in on academies joining
the Trust
£000
Oasis Academy
Benson
Oasis
Academy
Wattville
TOTAL
5,215
4,539
9,754
5,215
4,539
9,754
1,367
1,581
2,948
(1,367)
(1,581)
(2,948)
701
192
893
5,916
4,731
10,647

The land and buildings of both academies were transferred with a lease of 125 years.

Oasis Charitable Trust Transfers:

Amounts recorded as a gift, relate to the transfer of activities and assets from St Martins in the year. On 1 September 2024, assets (including a freehold property, investments and cash balances) were transferred to Oasis Charitable Trust. As referred to in the Fund note, the property has been transferred under certain restrictions, which have resulted in the property being recorded as a special trust fund in these financial statements, until such point as the charities are formally merged. OCT has control over the asset and has accordingly recognised the fair value of the property (including land) in these financial statements.

Oasis Community Partnership Transfers:

During the year there were two transfers into OCP; Knights Youth Centre transferred in as a subsidiary on 1 April 2025. Also on 1 April 2025, Lambeth & Croydon Foodbank merged into Oasis Community Hub Waterloo.

Oasis Restore Trust Transfers:

Relate to amounts recorded in the prior year, on land and buildings being formally handed over to ORT from the MoJ under a 125 year lease.

32. AGENCY ARRANGEMENTS

OCL distributes 16-19 bursary funds to students as an agent for the DfE. In the accounting year ending 31 August 2025 the Company received £98,954 (2024: £145,222) and disbursed £98,412 (2024: £165,669) from the fund. There was a balance of £115,762 (2024: £178,063) deferred at the year-end date, after repayment of old balances.

Page 72

OASIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

33. POST BALANCE SHEET EVENT

Oasis Charitable Trust entered into a 10-year social finance agreement with Social and Sustainable Capital in October 2025 for £2.135m to purchase and refurbish 20 three-bedroom properties in Sheffield and Scunthorpe. The loan requires OCT to spend the capital over 18 months, and so we are in the process of making offers on properties, refurbishing properties, and working with families in our academies and communities to take up this housing offer. We have recruited a Project Lead to oversee the scheme and also Property Consultant to secure and refurbish the properties. We expect to begin accepting families into properties from September 2026 onwards.

At Oasis Restore, since taking the decision to pause placements in August 2025, the Ministry of Justice have confirmed remedial works to replace internal doors. Design liability and sign off for these has been agreed with a specialist architect who works with Secure Children’s Homes and Ofsted. Rigorous safety testing of a sample door has been undertaken in a factory setting with Ministry of Justice Security Directorate and Oasis Restore. Doors are now being fitted and the timeline to re-open to children is currently estimated to be Spring/ Summer 2026. During the period of pause staff have been engaged in in-depth training and placements.

34. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 AUGUST 2024

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
18
Actuarial gain/(loss) on defined
benefit pension schemes
30
Net movement in funds
At 1 September 2023
At 31 August 2024		 General
£000
3,631
3,214
3,298
5,003
15,146
3,769
303
6,765
10,837
4,309
(1,228)
-
3,081
10,160
13,241		 Designated
£000
3
-
-
83
86
-
-
355
355
(269)
314
-
45
2,563
2,608		 Designated
£000
3
-
-
83
86
-
-
355
355
(269)
314
-
45
2,563
2,608		 Restricted
funds
£000
50,130
2,083
-
267,574
319,787
-
-
322,039
322,039
(2,252)
914
1,921
583
401,482
402,065		 Total 2024
£000
53,764
5,297
3,298
272,660
335,019
3,769
303
329,159
333,231
1,788
-
1,921
45
2,563		 3,709
414,205
2,608 417,914

Page 73