OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) Charty Registration number.. 1045124 Company Registration number.. 03039060 (England and Wa18s) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) CONTENTS Page Trustees, report Statement of trustees, responsibilites Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 8-15
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Cope Mr A Deakin Ms A Galbraith Mr S Council Charity number 1045724 Company number 03039060 Prlnclpal address The Old Chemist 16 Manor Farni Road Bitterne Triangle Southampton Hampshire S0181NP Regi8tered offlce The Old Chemist 16 Manor Farm Road Bitterne Triangle Southampton Hampshire S018 1NP Independent examiner Knight Goodhead 7 Boumemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report and financial statements for the year ended 31 December 2023. The trustees are of the opinion that the accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association dated 29 March 1995, the Companies Act 2006 and 'Accounting and Reporting by Charities the Statement of Recommended Practice for charities applying FRSI 02 Objectives and activities The principal activity of the charity is: 1) The furtherance of religious or secular public education. 2) The advancement of the Christian faith including missionary activities in the United Kingdom and overseas and also including but not limited to the planting of new churches and organisats'ons of congregations, 3) The relief of the poor and needy. 4) The relief of the sick, 5) The benefit of such other charitable objects and for the benefit of such other charitable bodies and institutions as the committee shall in their absolute discretion see fit. The objective of the charity is the extension of the Christian faith in the UK and overseas including the relief of the poor and needy. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake and are satisfied they provide public benefit.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and perfomiance Review of the year and future plans During 2023 Southampton Vineyard continued with activits'es running worship seniices and small groups for the teaching and furtherance of the Christian faith. The church maintains a shop front and available Spa which acts as a key part of the local community development with local traders and residents. Various church and community activities are based from here, Jo and Con have continued to lead the church with a regular rhythm of varying meeting styles, assisted by the kids and youth workers. The weekly attendan has slowly continued to decline post-covid, resulting in a net drop in donations. While some cost savings have been made, our income is below our outgoings and so our cash reserves are reducing. There is some significant building work reqUId in the coming years, and so some funds are being set aside for this. Financial review A summary of the results of the period's trading is given on page 6 of the accounts. The charity made a deficit of £15,537 (2022,. surplus £12,679). This is made up of a £14,829 deficit of unrestricted funds and a £708 deficit of restricted funds. The trustees consider the stale of affairs to be sakn'sfactory and the charity has sufficient reserves available to Meet its obligations. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months annual expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to conts'nue the charity's current activities while consideration is given to ways in which additional funds may be raised. Unrestricted funds at the year end totalled £143,333, of which £101,013 is tied up as the book value of our propety minus the associated loan. Free resenies at the year end amounted to £42,320 which represents five months expenditure. The trustees have assessed the major risks to which the charity is exposed, and are satisfised that systems are in pla to mitiqate exposu to the maior risks.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Wineyard) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, governance and management The charity is a company (No.3039060), limited by guarantee with no share capital, and also a registered charity (No.10457241. The trustees, who are also the directors for the purpose of company law, and who served during the year were,. Mr M Cope Mr D Panaech Mr S Craddock Mr A Deakin Ms A Galbraith Mr S Council (resigned 3 March 2023) (resigned 6 June 2023) (appointed 23 January 2024) In accordance with the Articles of Association, all of the above trustees retire and offer themselves for -electIOn. If a vacancy on the Board arises, potential candidates for trustees, who have the requisite knowledge and skills, are identified by the members. The trustees will approach them if they are considered trustworthy, and are signifi'cantly involved in the church and its projects. The chosen candidate, if they accept, will then be voted to the Board at the next meets'ng. The work of the charity is organised and run by the church Leadership Team and activities during the period have focused on continuing to establish the Church in Southampton, provision of weekly Bible study and Pastoral groups, in addition to weekly Sunday Meetings for corporate worship. It has also focused on working for and with the underprivileged within Southampton in partnership with other organisations, supporting disaster relief overseas, and working with the underprivileged in Zimbabwe and India. The trustees, report was approved by the Board of Trustees. Mr A Deakin Trustee Dated: v l Dl Iios+
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the directors of Oasis Church Southampton Ltd for the purpose of company law, are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the stste of affairs of the charity and of the income and expenditure of the charitable company for that year. In preparing these accounts, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP,, make judgements and eslimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts,. and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other itregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating lo small companies, and in accordance with the goveming document and "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS102,
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF OASIS CENTRAL SOUTHAMPTON LTD (formerly Central Southampton Vineyard) I report to the trustees on my examination of the accounts of Oasis Central Southampton (the charity) for the year ended 31 December 2023. Responsiblllties and basis of report As the trustees of the Charity (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial staternents in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are e1ible for independent examination, I report in respecl of my examination of the trustee's accounts carried out under sectK)n 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145{51(b) of the 2011 Act. Independont examlner's gtatoment I have completsd my examination. I confirm that no material matters have come to my attention in connection with the examination givlng me cause to belleve that in any material respect,. 1 accounting records were not kept in spect of the Charity as required by section 386 of the 2006 Act,. or 2 the financial statements do not accord with those records., or 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination., or 4 the financlal statements have not been prepared in accordance with the methods and principles of the Statement of Recommended PractiGe for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubliG of Ireland {FRS 1021. I have no Goncems and have Gome across no other matters in connection with the examination to which attention should be drawn in this re ort in order to ena le a proper understanding of the accounts to be reached. C J Goodhead FCA Knight Goodhead Limited Chartered AccoLtntants Dated. - 7 Boumemouth Road Chandlels Ford, Eastleigh Hampshire, S053 3DA
OASIS CHURCH SOUTHAMPTON LTD {formerly Central Southampton Vineyard) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted fund8 R8Jtrictsd funds Total 2023 Total 2022 Notes INCOME Donab'ons and legacies Charitable 3clivilies 75,649 14,814 3,527 79,176 14,814 90,004 11,783 Total Incomo 90,463 3,527 93,990 101,787 EXPENDITURE Charitsble acts'vities Interest payable 103,208 1,302 5,017 108,225 1,302 87,600 1,508 TOTAL RESOURCES EXPENDED 104,510 5,D17 109,527 89,108 NET INCOME FOR THE YEAR {14,047) 11,490) 115,537) 12,679 TRANSFERS (782 782 NET MOVEMENT IN FUNDS (14,8291 (7081 (15,5371 12,679 FUND BALANCES AT 1 JANUARY 2023 158,162 6,414 164,576 151,897 FUND BALANCES AT 31 DECEMBER 2023 143,333 5,706 149,039 164,576 The statement of financial activities includes all galns and losses recognised in the year. All Ino)me and expendlture derive from continuing aclivllies. The statement of finanaal activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
OASIS CHURCH SOUTHAMPTON LTD (formerfy Central Southampton Vineyard) BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes FIXED ASSETS Tangible assets 140,004 147,465 CURRENT ASSETS Debtors Cash al bank and in hand 2,946 48,608 51,554 3,959 61,573 65,532 CREDITORS: amounts falling due within one year.. 10 112,052) 110,3541 NET CURRENT ASSETS 39,502 55,178 TOTAL ASSETS LESS CURRENT LIABILITIES 179,506 202,643 CREDITORS.. amount falling due in more than one year 11 130,467) (38,067) NET ASSETS 149,039 164,576 INCOME FUNDS Restricted funds 12 5,706 6,414 Unre51ricted funds.. Designated funds General unreslricled funds 13 13 101,013 42,320 100,946 57,216 143,333 158,162 TOTAL FUNDS 149,039 164,576 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. No member of the company has deposited a notice, pursuant to section 476 of the Companies Act 2006, requiring an audit of these financial stalemenls. The trustees, aCknOedge their responsibilities for ensuring that the charity keeps accounting records which comply wlh section 386 of the Act and for preparing accounts which give a true and fair view of the stsle of affairs of the company as at the end of the financial year and of ils income and expenditure for the financial year in accordan with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2Crf)6 relating to accounts, so far as applicable to the company. These financial ststsmenls have been ppared in accordance with the provisions applicable to companies subject to the small companies regime. The aLxounts were approved by the Trustees on 24 /0 q/26ry4 Mr A Deakin Trustee Company Registration No. 03039060
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 Accountlng Policie8 Company Informatlon Oasis Church Soulhamplon Ltd Iforrnerly Central Southampton Vineyard) is a private company limited by guarantee incorForaled in England and Wales. The registered office is The Old Chemist, 16 Manor Farm Roaj, Bitterne Triangle, Southampton, Hampshire, S018 1 NP. 1.1 Ac¢ountlng convention The accounts have been prepared in accordance wlh FRS 102, the Companies Act 2006 and "Accounting and Reporting by Chaiits8s'. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The charity is a Public Benefit Ents'ty as defined by FRS102. The financial statements are prepared in sterling, which is the functional currency of the charity, Monetary amounts in these financial slalements are rounded lo the nearest £. The accounts have been prepared on the historical cost convents'on, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below. 1.2 Golng Concern Al the lime of approving the accounts, the trustees have a reasonable expectation that the chaiily has adequate resources lo conb'nue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going conc81n basis of accounting in preparing the accounts. 1.3 Charitable funds Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the r8slrtcted funds are sel out in the notes to the financial slatemenls. 1.4 Income Income is recognised when the charity is18gally ents'lled to il after any perfomiance condith'ons have been met, the amounts pAn be measured reliably, and it is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once the charity has been nots'fied of the donation, unless perfomiance conditions require deferral of the amount. Income lax recoverable in relats'on lo donations received under Gift Aid or deed5 of covenant is recognised at the thme of the donation. Government grants relating to income are recognised as income over the pertods when the related costs are incurred. 1.5 Expenditure A liability arises as Scpjn as there is a legal or constructive obligation committj'ng the charity lo the expenditure. Expenditure falling dI¢11Y wlhin one cost category is allocated to that category, and if expenditure relates to more than one cost category it is apportioned on a reasonable, justifiable and consistent basis belween them.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 1 Accounllng policies (Contlnued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or revaluation, nel of depreciation and any impaimient losses. Land and buildings fair valLJe is measured reliably and held under the revaluation model al a valued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is considered lo be their maikel value, Revaluation gains and losses are recognised in olh8r comprehensive income and acojmulaled in equity. Depreciation is recognis8d so as lo writs off the cost or valuation of assets less their resldual values over their useful lives on the followlng bases.. Land and buildings Plant and machinery 4% straight line 25% - 33% straight line The gain or loss arising on the disposal of an asset is determined as the difference been the sale proceeds and the carrying value of the as8el, and is recognised in net incomellexpendilurel for the year. 1.7 Impairment of fixed as8et8 Al each reporting 8nd dale, the charity reviews the carrying amounts of its tangible and inlangibla assets lo deleirnine whether there is any indication that those assets have suff8red an impaimienl loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to detemiine the extent of the impairment Ioss lif any). 1.8 Financial Instruments The charity only enters into basic financial instrument Iran5aclions that r8suII in the recognllion of financial assets and liabilities like trade and olher debtors, cash al bank and creditors. These basic financial instruments are measured al transaction pri. Financial assets and liabilitses classified as due within one year are not amortised,
OASIS CHURCH SOUTHAMPTON LTD (fomierfy Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 2 DONATIONS AND LEGACIES Unreslricted fund5 Restricted funds Total 2023 Total 2022 Donations and gifts 75,649 3,527 79,176 90,004 3 CHARITABLE ACTIVITIES Unrestrlcted nds Re¥trlcted funds Total 2023 Total 2022 Staff costs Isee note 61 Depreciation and impairment Manse allowances Ministy Worship and outreach Office overheads Accountsncy and Independent examination 61,287 7,982 61,287 7,982 41,256 8,032 1881 1,650 6,863 19,670 1,526 2,385 10,398 18,997 1,594 2,385 10,398 18,997 1,594 102,643 102,643 78,909 Grant funding (see note 41 565 5,017 5,582 8,891 103,208 5,017 108,225 87,600 4 GRANTS PAYABLE Total 2023 Total 2022 Grants lo institutions,. Above Bar Church IRefuge851 Bethesda 200 4,121 200 8,114 4,321 8,314 Grants lo individuals 1,261 377 5,582 8,691 5 TRUSTEES None of the trustees lor any persons connected wtlh them) were reimbursed for any expenses from the charity during this or the prior year. io
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 6 EMPLOYEES Number of employees The average monthly number of employees durtng the year was.. 2023 Number 2022 Number Pastors Adminislralion Employment coth 2023 2022 Wages and salaries Other pension costs 58,544 2,743 61,287 39,292 1,964 41,256 There were no employees whose annual remuneration wa5 £60,000 or more. Key management personnel were paid a total of £23,234 11 employee). 7 TAXATION There is no taxats'on liability arising on these accounts as the company is a registered charity {No.10457241. 8 TANGIBLE ASSETS Land and bullding8 Plantand Machlnery Tolal COST OR VALUATION At beginning of year Additions At end of year 183,CK)O 22,731 521 23,252 205,731 521 2C6,252 183,0fy) DEPRECIATION AND IMPAIRMENT At beginning of year Charge for year Al end of year 36,600 7,320 43,920 21,666 662 58,266 7,982 66,248 22,328 NET BOOK VALUE At beginning of year At end of year 146,400 139,080 1.065 924 147,465 140,004 Land and buildings with a historic cost of £140,878 were valued in August 2018 to £183,000 by independent valuers not connected with the charity on the basis of market value. The valuation conforms to Intemats'onal Valuation Stsndards and was bas&J on recent market transactions on ami's length terms for similar properties. At 31 Decemb8r 2023, had the revalued assets been carried at historic cost less accumulated depreciation and &cumulated impairment losses, their carrying amount would have been approximately £103,70012022 - £109,888). The revaluation surplus is disclosed in note 13. li
OASIS CHURCH SOUTHAMPTON LTD (fornierly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 9 DEBTORS: amounts falling due within one year 2023 2022 Gift aid debtor Prepayments and accrued income 1,858 1,088 ,946 3,362 597 3,959 10 CREDITORS: amounts falllng due within one yr 2023 2022 Loan Other taxation and social security Accruals and deferd income 7,600 7,387 4,452 12,052 2,967 11 CREDITORS: arnounts falling due after onl year 2023 2022 Loan 30,467 38,067 The loan is secured on the land and buildings. The loan is repayable by monthly inslalments and will be fully repaid on 30 September 2028. 12 RESTRICTED FUNDS The income fund8 of the charity include restricled fvnds comprising the following donations and grants held on trust for specific purposes.. Movement In funds Balance at 1 January 2023 Transfers baiween fund8 Balance at 31 December 2023 Incon Expenditure B8thesda Mission Fund Joy Fund Bags of Mercy 3,339 {4,121) 782 1,309 5,105 6,414 1,309 4,397 5,706 188 3,527 (8961 (5,017) 782 The Bethesda Mission fund represents funds for Pastor Sam and his family for their organisats'on Belhesada in southern India. The Joy fund represents donations given by church members so that the fund can be used by anyone in the chLtrth that naeds it. Bags of Mercy is a project which makes up and delivers emergency supplies lo refijgees. They contain toiletries, cuddly toys for thildren and essentials for the women because they nomially arrive at the shelter in an emergency with literally nothing. 12
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 13 UNRESTRICTED FUNDS The income funds of the charity include the following designated funds which have been set aside out of unrestricteé funds by the trustees for specific purposes.. Balance at 1 January 2023 Transfers between fund$ Balance at 31 December 2023 Income Expendlture Daslgnated funds Propety Fund Revaluation Reserve 67,209 33,737 16,9351 11,8871 8,689 68,963 32,050 Totsi deslgnated lunds 100,946 {8,6221 8,689 101,013 General funds 57,216 90,463 195,888) (9,4711 42,320 Total unre•tricted fund8 158,162 90,463 1104,510) (782) 143,333 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances as al 31 Dec8mber 2023 are r8presented by.. Unrestrlctod funds Restrl¢tsd funds Total 2023 Tangible assets Nel current assets Long term liabilities 140,004 33,796 (30,4671 140,004 39,502 (30,467) 5,706 Fund balances as al 31 December 2022 are represented by.. Unrestricted funds Restricted funds Total 2022 Tangible assets Net current assetsllliabililiesl Long term liabilities 147,465 48,784 138,0671 147,465 55,178 138,0671 6,414 13
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 15 PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlctsd funds Restricted funds Total 2022 INCOME Donations and legacies Charitable athvitses 80,839 11,783 9,165 g0,ofA 11,783 TOTAL INCOME 92,622 9,165 101,787 EXPENDITURE Chan'lable acts'vits'es Int&r8s1 payable 79,036 1,508 87,600 1,508 TOTAL RESOURCES EXPENDED 80,544 8.564 89,108 NET INCOMEI(EXPENDITURE) FOR THE YEAR 12,078 601 12,679 TRANSFERS 14621 462 NET MOVEMENT IN FUNDS 11,616 1,063 12,679 FUND BALANCES AT1 JANUARY 2022 146,546 5,351 151,897 FUND BALANCES AT 31 DECEMBER 2022 158,162 6,414 164,576 14
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 16 COMPARATIVE FUNDS FOR YEAR ENDED 31 DECEMBER 2022 Restrlcted funds Prlor year comparativo movement in funds Transfers betsveen funds Balance at 1 January 2022 Balance at 31 December 2022 Income Expondlture Bethesda Mission Fund Joy Fund Bags of Mercy Refugees Fund 7,652 18,1141 462 1,309 3,842 200 1,309 5,105 1,513 12501 12001 5,351 9,165 18,5641 462 6,414 Unrellrlcted funds Prior year comparatlve movement In funds Transfors b•tween fund8 Balance at 1 January 2022 Balance at 31 December 2022 Income Expenditure Deslgnated funds Property Fund Revaluation Reserve 65,659 35,424 17,1411 (1,6871 8,691 67,209 33,737 Total deslgnated funds 101,083 18,8281 8,691 100,946 Genoral fvnds 45.463 92,622 (71,7161 {9,153} 57,216 Total funds 146,546 92,622 (80,5441 {4621 158,162 15