OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) Charity Registration numbar.. 1045724 Company Registration number.. 03039060 (England and Wales) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) CONTENTS Page Trustees, report Statement of trustees, responsibilites Independent examiner's report Statement of linancial activities Balance sheel Notes to Ihe 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 Mi S Council {resigned 03112124) Charity number 1045724 Company number 03039060 Principal address The Old Chemist 16 Manor Farm Road Bilterne Triangle Southampton Hampshire S018 1NP Registered office The Old Chemist 16 Manor Farm Road Bitterne Triangle Southampton Hampshire S0181NP Independent examiner Knight Goodhead 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The truslees present their report and financial statements for the year ended 31 December 2024. The trustees are of the opinion that the accounls 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 Stalement of Recommended Practice for charities applying FRS102 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 organisations 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 objeclive 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 2024 Achievements and performance Review of the year and future plans This year has been one of encouragement and renewal for our church and community. Under the continued leadership of Jo and Con, supported by a dedicated team of volunteers, we have seen the church grow as a welcoming part of the community. Our weekly attendance has increased throughout the year, and since our relaunch as Oasis Church Southampton in September 2024, we have seen new people joining and engaging with the life of The Old Chemist, our much-loved building, has remained at the heart of community life.11 continues to host a wide range of groups and events, pioviding a safe and inclusive space for people of all ages. We were delighted to receive significant govemment funding towards renovation works, which will help us to improve the building and ensure it remains a valuable resource for years to come. Financially, we are encouraged to see greater stability compared with previous years, giving us confidence to plan ahead and invest in both our church and wider community work. The commilment of our congregation, volunteers, and wider supporters has been instrumental in this progress, and we are deeply thankful for their contribution. Looking forward, we remain committed to building a thriving church that serves the local people and enables teaching and furtherance of the Christian faith in an inclusive and Christ-centred way. We are also excited about working closely with Oasis, the wider charity of which we are now a part, to deepen our impact and strengthen our connection lo the national movement. 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 £14,120 {2023'. deficit £15,537). This is made up of a £16,231 deficit of unrestricted funds and a £2,111 surplus of restricted funds. The trustees consider the slate of affairs to be satisfactory and the charity has sufficient reserves available to meet ils obligations, It is the policy of Ihe charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent lo between three and six months annual expenditure. The trustees consider that reseNes at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activilies while consideration is given to ways in which additional funds may be raised. Unrestricted funds at the year end totalled £127,102 of which £101,293 is lied up as the book value of our property minus the associated loan, Free reserves at the year ertd amounted to £25,809 which represents three months expenditure, The trustees have assessed the major risks to which Ihe charity is exposed, and are salisfised that systems are in place to mitiqale exposure to the major risks.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management The charily is a company {No.3039060}, limited by guarantee with no share capital, and also a registered charity (No.1045724), The company changed it's name on 17 September 2024. The trustees, who are also the directors for the purpose of company law, and who served during the year were.. Mr M Cope Mr A Deakin Ms A Galbrailh Mr S Council lappoinled 23 January 2024, resigned 3 December 2024) In accordance with the Articles of Association, all of the above trustees retire and offer themselves for re-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 Ihem if they are considered trustworthy, and are significantly involved in the church and its projects. The chosen candidate, if they accept, will then be voted to the Board at the next meeting. 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 wilhin 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: 16 109 l tr)-
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the directors of Oasis Church Southampton Ltd for the purpose of company law, are responsible for preparing Ihe 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 piepare accounts for each financial year which give a true and fair view of the state 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 estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the 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 Ihe 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 foi the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Acl 2006 relating to small companies, and in accordance with the governing document and Accounting and Reporting by Charities the Statemenl of Recommended Practice for charities applying FRS102.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) I report to the trustees on my examination of the accounts of Oasis Church Southampton (the charity) for the year ended 31 December 2024. Responsibillties and basls of report As the trustees of the Charity land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 audiled under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trustee's accounts carried out under section 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 14515}{b} of the 2011 Act. Independent examinefs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1 accounting records were not kept in respect 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. C J Goodhea FCA Knight Goodhead Limited Chartered Accountants 7 Bournemouth Road Chandlerfs Ford, Eastleigh Hampshire, S053 30A Dated. Ig Lf
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds Restricted funds Total 2024 Total 2023 Notes INCOME Donations and legacies Charitable activities 61,430 12,909 3,467 64,897 12,909 79,176 14,814 Total income 74,339 3,467 77,806 93,990 EXPENDITURE Raising funds Charitable activities Interest payable 1,560 87,919 1,091 1,560 89,275 1,091 1,356 108,225 1,302 TOTAL RESOURCES EXPENDED 90,570 1,356 91,926 109,527 NET INCOME I (EXPENDITURE) FOR THE YEAR {16,2311 2,111 114,120) {15,537} TRANSFERS 12 NET MOVEMENT IN FUNDS (16,231) 2,111 114,120) 115,5371 FUND BALANCES AT1 JANUARY 2024 143,333 5,706 149,039 164,576 FUND BALANCES AT 31 DECEMBER 2024 127,102 7,817 134,919 149,039 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible assets 132,021 140,004 CURRENT ASSETS Debtors Cash at bank and in hand 4,571 37,126 41,697 2,946 48,608 51,554 CREDITORS: amounts falling due within one year.. 10 116,1491 {12,0521 NET CURRENT ASSETS 25,548 39,502 TOTAL ASSETS LESS CURRENT LIABILITIES 157,569 179,506 CREDITORS: amount falling due in more than one year 11 122,6501 130,4671 NET ASSETS 134,919 149,039 INCOME FUNDS Reslricled funds 12 7,817 5,706 Unresi¥icled funds.. Designated funds General unreslricled lunds 13 13 101,293 25,809 101,013 42,320 127,102 143,333 TOTAL FUNDS 134,919 149,039 The company is enlilled to the exemption from the audit requirement contained in section 477 of the Companies Acl 2006, for the year ended 31 December 2024. No member of the company ha5 deposited a notice, pursuant to section 476 of the Companies Act 2006, requiring an audit of these financial slatemenls. The trustees, acknowledge their responsibilities for ensuring Ihal the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the stale of affairs of the company as al the end of the f5nancial year and of ils income and expenditure for the financial year in accordan wlh the requirements of sections 394 and 395 and which olherwse comply wilh the requirements of the Companies Act 2006 relating lo accounts, so far as applicable lo the company. These financial slalemenls have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The accounts were approved by the Trustees on 16 L4yL 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 2024 1 Accounting Policies Company information Oasis Church Soulhamplon Ltd (formerly Central Soulhamplon Vineyard) is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Chemist, 16 Manor Farm Road, Billerne Triangle, Soulhampton, Hampshire, S018 1 NP. 1.1 Accounting convention The accounts have been prepared in accordance with FRS 102, the Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practs. applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 The charity is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charily, Moneiary amounts in these financial slalemenls are rounded to the nearest £. The accounts have been prepared on the historical cost convention, modified lo include the revaluation of freehold PToperiies. The principal accounting policies adopted are sel oul below. 1.2 Going Concern Al the lime of approving the accounts, the Iruslees have a reasonable expectation that the charity has adequate reSoUrS lo continue in operational existence for Lhe foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the accounts, 1.3 Charitable funds Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of their charitable objecb'ves. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are set out in the notes lo the financial slalements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performan conditions have been met, the amounts can be measured reliably, and il is probable that income will be reiVed. Cash donations are recognised on receipt. Other donations are Tecognised once the charity has been notified of the donation, unless performan conditions require deferral of the amount. Income lax recoverable in relation lo donations reiVed under Gift Aid or deeds of covenant 15 recognised al the lime of the donation. Government grants relating lo income are recognised as income over the periods when the related cosis are incurred. 1.5 Expenditure A liability arises as soon as there is a legal or conslruclive obligation commilling the chaiily lo the expenditure. Expenditure falling directly within one cost category is allocated lo that category, and if expenditure relates lo more than one cost category il is apportioned on a reasonable, justifiable and consislenl basis between them.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continued) 1 Accounting policies (Continued) 1,6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or revaluation, nel of depreciation and any impairmenl losses. Land and buildings fair value is measured reliably and held under Ihe revaluation model al a ievalued 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 market value. Revalualion gains and losses are recognised in olhei comprehensive income and accumulated in equity. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Land and buildings Plant and machinery 4,/4 slraighl line 250 _ 33010 slraighl line The gain or loss arising on the disposal of an asset is determined as the difference between Ihe sale proceeds and the carrying value of the asset, and is recognised in nel incomellexpendilure) for the year. 1.7 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of ils tangible and intangible assets lo determine whether there is any indicab'on that those assets have suffered an impairment loss, If any such indication exists, the recoverable amount of the asset is eslimaled in order lo determine the exlenl of the impairment loss {if any}. 1.8 Financial instruments The charity only enters into basic financial instrument transactions that result in the recognilion of financial assets and liabilities like trade and other debtors, cash al bank and credilors. These basic financial instruments are measured at Iransaclion price. Financial assets and liabilities classified as due within one year are not amortised.
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 2 DONATIONS AND LEGACIES Unrestrlcted funds Reslricted funds Total 2024 Total 2023 Donations and gifts 61,430 3,467 64,897 79,176 3 CHARITABLE ACTIVITIES Unrestricted funds Restricted funds Total 2024 Total 2023 Staff costs (see note 61 Oeprecialion and impairment Ministry Worship and outreach Office overheads Accountancy and independent examination 45,698 7,983 3,173 6,272 22,324 1,920 45,698 7,983 3,173 6,272 22,324 1,920 61,287 7,982 2,385 10,398 18,997 1,594 87,370 87,370 102,643 Grant funding (see note 41 549 1,356 1,905 5,582 87,919 1,356 89,275 108,225 4 GRANTS PAYABLE Total 2024 Total 2023 Grants lo inslitulions.. Above Bar Church IRefugeesl Bethesda 200 4,121 1,134 1,134 4,321 Giants lo individuals 771 1,261 1,905 5,582 5 TRUSTEES None of the trustees (or any persons connected with 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 2024 (continued) 6 EMPLOYEES Number of employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Pastors Administration Employment costs 2024 2023 Wages and salaries Olher pension costs 43,672 2,026 45,698 58,544 2,743 61,287 There were no employees whose annual remuneration was £60,000 or more. Key management personnel were paid a lolal of £20,89112023'. £20,891}10 1 employee12023.. 1 employee). 7 TAXATION There is no laxalion liability arising on these accounts as the company is a registered charity {No.1045724}. 8 TANGIBLE ASSETS Land and buildings Plant and Machinery Total COST OR VALUATION Al beginning of year Disposals Al end of year 183,000 23,252 12561 22,996 206,252 12561 205,996 183,000 DEPRECIATION AND IMPAIRMENT Al beginning of year Charge for year Disposals Al end of year 43,920 7,320 22,328 663 1256} 22,735 66,248 7,983 {256) 73,975 51,240 NET BOOK VALUE At beginning of year At end of year 139,080 131,760 924 140,004 132,021 261 Land and buildings with a hisloiic cost of £140,878 were ievalued in August 2018 to £183,000 by independent valueis not connected with the charity on the basis of market value. The valuation confonns lo International Valuation Standards and was based on recent market transactions on ann's length terms for similar properties. Al 31 December 2024, had the revalued assets been carfied al historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £97,51212023 - £103,700). The revaluation surplus is disclosed in note 13. li
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 9 DEBTORS: amounts falling due within one year 2024 2023 Trade debtors Gift aid debtor Prepayments and accrued income 382 3,272 917 4,571 1,858 1,088 2,946 10 CREDITORS: arnounts falling due within one year 2024 2023 Loan Trade creditors Accruals and defeired income 7,818 6,061 2,270 16,149 7,600 4,452 12,052 11 CREDITORS: amounts falling due after one year 2024 2023 Loan 22,650 30,467 The loan is secured on the land and buildings. The loan is repayable by monthly inslalmenls and will be fully repaid on 30 September 2028. 12 RESTRICTED FUNDS The income funds of the charity include reslricled funds comprising the following donations and granls held on Irusl for specific purposes: Movement in funds Balance at 1 January 2024 Transfers between funds Balance at 31 December 2024 Income Expenditure Bethesda Mission Fund Joy Fund Bags of Mercy 2,969 150 348 3,467 (1,1341 1,835 1,459 4,523 7,817 1,30g 4,397 5,706 1222} {1,3561 The Bethesda Mission fund represents funds for Pastor Sam and his family for their organisalion Belhesada in southern India. The Joy fund represents donation5 given by church members so Ihal the fund can be used by anyone in the church that needs it. Bags of Mercy is a project which makes up and delivers emergency supplies lo refugees. They contain toiletries, cuddly toys for children and essentsals for the women because they normally arrive 31 the shelter in an emefgency wilh lileially nolhing. 12
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 13 UNRESTRICTED FUNDS The income funds of the charity include the followng designated funds which have been sel aside out of unrestricted funds by the Injslees for specific purposes.. Balance at 1 January 2024 Transfers between funds Balance at 31 December 2024 Income Expenditure Designated funds Properly Fund Revaluation Reserve 68,963 32,050 16,7241 (1,687) 8,691 70,930 30,363 Total designated funds 101,013 {8,4111 8,691 101,293 General funds 42,320 74,339 182,1591 {8,691) 25,809 Total unrestrlcted funds 143,333 74,339 190,5701 127,102 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances as al 31 Dember 2024 are represented by.. Unrestricted funds Restricted funds Total 2024 Tangible assets Nel current assets Long term liabilities 132,021 17,731 {22,650) 27, 02 132,021 25,548 (22,6501 7,817 Fund balances as al 31 Dernber 2023 are represented by.. Unrestricted funds Restricted funds Total 2023 Tangible assets Nel current assetsllliabilitsesl Long term liabilities 140,004 33,796 130,4671 140,004 39,502 130,4671 5,706 13
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 15 PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds Restricted funds Total 2023 INCOME Donations and legacies Charilable aclivilies 75,649 14,814 3,527 79,176 14.814 TOTAL INCOME 90,463 3,527 93,990 EXPENDITURE Charitable acb'vities Interest payable 103,208 1,302 5,017 108,225 1,302 TOTAL RESOURCES EXPENDED 104,510 5,017 109,527 NET INCOMEIIEXPENDITUREI FOR THE YEAR (14,0471 11,490} 115,537) TRANSFERS 17821 782 NET MOVEMENT IN FUNDS 114,8291 1708} 115,5371 FUND BALANCES AT 1 JANUARY 2023 158,162 6,414 164,576 FUND BALANCES AT 31 DECEMBER 2023 143,333 5,706 149,039 14
OASIS CHURCH SOUTHAMPTON LTD (formerly Central Southampton Vineyard) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continued) 16 COMPARATIVE FUNDS FOR YEAR ENDED 310ECEMBER 2023 Restricted funds Prior year comparative movement in funds Transfers between funds Balance at 1 January 2023 Balance at 31 December 2023 Income Expenditure Bethesda Mission Fund Joy Fund Bags of Mercy 3,339 {4,1211 782 1,309 5,105 1,309 4,397 188 18961 6,414 3,527 15,0171 782 5,706 Unrestricted funds Prior year comparatlve movement In funds Transfers between funds Balance at l January 2023 Balance at 31 December 2023 Income Expenditure Designated funds Properly Fund Revaluation Reserve 67,20g 33,737 16,9351 11,6871 8,689 68,963 32,050 Total designated funds 100,946 18,6221 8,689 101,013 General fund5 57,216 90,463 195,8881 19,4711 42,320 Total funds 158,162 90,463 1104,5101 17821 143,333 15