2020-08-31-accounts

Company Registration Number: 06364486

Charity Number: 1064155

THE OAKES TRUST (SHEFFIELD)

REPORTS AND UNAUDITED FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2020

THE OAKES TRUST (SHEFFIELD)

CONTENTS

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|||||| |---|---|---|---|---| |Contents|Page| |Reference|and|administrative|details|1| |Trustees’|report|2-8| |Independant examiner's|report|9| |Statement|of financial|activities|10| |Balance sheet|11| |Statement|of cash|flow|12| |Nees to the|fiimancdial|statements|13-19|

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THE OAKES TRUST (SHEFFIELD)

LEGAL AND ADMINISTRATION INFORMATION

The Oakes Trust (Sheffield) is also known as The Oakes Holiday Centre.

Legal status

TheOakesTrust(Sheffield) isa company limited	TheOakesTrust(Sheffield) isa company limited	TheOakesTrust(Sheffield) isa company limited	byguarantee anda registered charity:	byguarantee anda registered charity:
Charity number	=: 1064155
Companynumber	: 03364486
Directors/trustees
Paul German	Chairman	Appointed 6 April 2020		Resigned 9 March 2021
Martin Bell Kate Fehler	Chairman Treasurer	Resigned6April 2020 Appointed 18 May 2020		Resigned 9 Marcin 2021
DanielThaw		Resigned 6 March 2020
Anthony Fisher
JoHapkins
Stephen Wilkinson
Helen Harvey		Appointed 16November 2019
Tan Burton		Appointed 16 November 2019
CompanySecretary
Daniel Thaw		Resigned 6 March 2020
Key management
Daniel Thaw	Non-company	Director
Registered Office
The Oakes
Oakes Park
Norton
Sheffield
SBSBA
IndependentExaminer
Susan Cochrane, FCA
On behalfof:
VAS Community Accountancy
TheCircle
33Rockingham Lane
Sheffield
S14FW
Bankers			Solicitor
Yorkshire Bank			Eilis-Fermor&Nequs
Fargate Sheffield			5MarketPlace Ripley
Si 1LL			Derbyshire
			DES3BS

Page 1

THE OAKES TRUST (SHEFFIELD) TRUSTEES’ REPORT FOR THE YEAR ENDED31AUGUST2020 The trustees are pleased to present their annual directors’ report together with the consolidated fmandat statementsof the charity for the year ending 31 August 2020 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with tthe Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicablt e charities preparing their accounts in accordancewith the Financal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Objectives and Aims

beneficial to the community in such areas as the charity may from time to time be operating.

The aim of The Oakes Holiday Centre is three-fold. To provide a holiday centre where 8-18 year olds can:

° hear the Christian message

S he eancouragedt im their feittin ° enjoy a great holiday

Holidays are held for various ages at which the Christian messageis presented dearly. The OakesTrust is committed to providing children and young people with the opportunity to hear, discuss and ask questions about what Christianity is, who Jesus is, and what he did and said. There are two mectingsper full day plus a small group discussiontime. The meetings involve music, drama, games, quizzes, small group work as weill as direct teaching. The young people come from a broad spectrumof beliefs induding other faiths and no faith. For some they have never had Christianity explained to them before and some describe themselves as committed Christians. anyoneFor thesewihoTinewisinesOaikestotriesattendtofinomgive encouragementwhabever background,and help beliefin livingor ability.out their faith. The centreis open to

Holiday fees are kept to a minimum, with donations making up over half of regular income, to enable maximum Participation. There is a Holiday Fund to ensure that subsidised places are available to anyone who requires financial assistanceto enable them to take part in a holiday.

When planning the activities for the year, the trustees have considered the Commission's guidance on public benefit antl, im partiqular, the specific quidance on charities for the advancement of religion and on feecharging.

How the centre rums

The activities undertaken during a typical holiday are designed to help children and young people to develop a range of abilities, amd jpersomal amd social skills. Initiative games, Team Building stations, a Climbing Wall and tthe Ropes course promote team work, problem solving and confidence. Anchery is often a mew skill for many. Remote Control Cars encourages another new skill and cooperation as they work in pairs to keep the cars on the brack. Rafting and tunnels cover all the above with the added pressure of different environments to copewith ie. waber and being underground

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THE OAKES TRUST (SHEFFIELD)

TRUSTEES’ REPORT- continued FOR THE YEAR ENDED 31 AUGUST2020

By taking childinem from eight years old The Oakes is often their first ovemigiit trip avway from lhonme. This experience can grealily boost a child's self-confidence and help them as they grow up. The young peoplie will mix with children from different backgrounds and areas often having to work with them to achieve a task. This helps social cohesion in the short and long term.

Working with schools provides all of this for their pupils with the added bonus of a clear explanation of Christianity fitting im with the RE auriculum, the PSHE and Citizenship syllabus and the cumrent emplhasis: om community cohesiom and learning outside of the classroom. To quote one sciool’s presentation to parents about their trip to The Oakes...

“Thedear Children’slinks to everyPlanonereinforcesof these theoutcomes.five aimsParticipationof Every Childnot onlyMatters encouragesand leaming healthyoutsidelifestyles,the classroomitdevelopshasthe personal attributes and social skills that are vital for achievement, social inclusion, responsible citizenship and enterprise and employability.It also helps young people to learn to manage risk.”

A visit to The Oakes develops these personal attributes and social skills for all of the young people and so has long term benefits as well.

Dan and Billie Thaw have overall responsibility for The Oakes whilst the day to day running of the centre is overseen by the Programme Manager - who deals with the daily organisation of the holidays, tthe Team Manager - wito is responsible for the Impact (gap) Team and Residential Trainees (a second year post Impact Team with greater responsibilities), and the Operations Manager - who is in charge of all “behind the scenes” operations. These roles make up the Senior Leadership Team (SLT), responsible to the Trustees. All Staff are responsible to one of the SLT.

Anew (usually multinational) “Impact Team” (gap year) signs on annually to live at The Cakes amd ware om the holidays. The Impact Team also help the Staff to plan and prepare new activities, maintaintthe house: amd grounds, and receive training in a wide spectrum of areas including food hygiene, lifesaving and first aid, and theological training to enable them to teach and guide the young people. No Staff or Impact Team members receive money from The Oakes.

There is also a Support Team which helps with the holidays. They are generally ages 15-18, amd living aft home in Sheffield or nearby. They sign up for various holidays throughout the year staying om site diwring the holidays to help with back-up jobs such as cleaning and setting up activities. They will also have the opportunity to gain experience working with children and young people under supervision.

In normal times the centre greatly benefits from part-time volunteers who come in at least one day a week te cover tasks such as bookkeeping, correspondence,holiday bookings, special projects, maintemamce worlk and gardening.

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THE OAKES TRUST (SHEFFIELD)

TRUSTEES’ REPORT - continued FOR THE YEAR ENDED31 AUGUST2020

Achievements and Performance

In late March the UK entered a significant period of lockdown and social dis t o combatancingthe spread of COVID-19. Holiday bookings were cancelled and the 2019/20 Impact Team left The Oakes but carried on providing online videos until June. The achievements and performance set out below therefore primarily reflect holidays running from Sepbemiber 2019 to March 2020, although some online resources were provided after tna. The lack of residential holidays also allowed time for SLT and staff to review many areas of operation and threecreatemorea ten aimsyear withinPlan, detailsthis Planof aswhichfollows;are set out below. In additito the three-f o ld naim above,they induded

° Equipping, developing and valuing all the team ° Growing similar ministries * Developing and ibwilding an achive supporter base

Young people hearing the Christian message:

849 young people heard the Christian message from September2019 — March 2020at 21 holidays.This is an increase of 184 young people (compared with Sept-March 18-19) with the same number of holidays as the previous year. Holidays are typically in the age categories of 8-11, 10-13, 11-15 and 14-18, whilst over 15's are aso encouraged to Get involved by joining the Support Team which helps behind the scenes duiing the holidays.

4 weekend holidays were held during the 7 monthsto March 2020, which typically involve two or three Sunday schools or youth groups plus friends, and they are brought by their leaders. The majority of young people come from within one hour's driving distance, for example Leeds, Nottingham, Leicester,Hull and Sheffield itself. Some thrawel finom furtiner afield including groups from Newcastleand Camibridigeshine.

2 holidays of between 3 and 5 nights were held during school holidays at which individuals or small clusters of friendis book independentlyof leaders. We are always really encouraged to welcome back young people who have visited before with groups.

The thollidays Inning young peopile tegether from diverse social backgrounds for example a group from a deprived area of Sheffield with a group from an urban priority area of Rugby and those from Peak District villages.

During this 7 month period there were 13 school residentials from 10 different schools, primarilyfrom Years 4 and 5. A clear presentation is given of what Christians believe, as part of the National Curriculum, and The Oakes works im partnership with the school to adhere to school quidelines. These school trips encourage team work skills. A number of children from other faith backgrounds came on these residentials. These schools varied such as Hanns Academy, Rugby (a secondary school) in an urban priority catchment to local primary schools. There was 1 residential for secondary school groups.

Young people encouraged in their faith:

Over tihe year young Christianswill come on holidays and still get encouragement from the meetings and smail group times as well as from interacting with members of The Oakes team and other young Christians. The over 15’s are encouragedto get involved by joining the SupportTeam which helps behind the scenes during the holidays. We had 3 holidays with 13 Support Team during September 2019 — March 2020. They willl also join im with Staff prayers and have bible study times. Being on the Support Team has proved to be tthe maim source of encouragementfor many young Christians who are not part of a church youth group. The Oakes’ web site provides young people with the opportunity for post-holiday help and support should they wantit and thereis a mailing twice a year aimed at keeping young people informed about what is happening at The Oakes.

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THE OAKES TRUST (SHEFFIELD) TRUSTEES’ REPORT - continued FOR THE YEAR ENDED 31 AUGUST 2020

Achievements and Performance — continued

Team members doing a gap year have regular study days throughout the year often with outside speakers and the opportunity to attend conferences. They are encouraged to study the bible and live out their faitin in their daily lives. The Oakes’ Team manager's role is to disciple and encourage the team.

Young people enjoy a great holiday:

Over the year many young people have enjoyed a great holiday. The Oakes does not advertise and is torecommendedbring friends bytoo. wordThisofismouth.what Successhappens. for us isA goodindicator whether oris notthe youngfeedbackpeoplewe receive.want toAftercomeeactbackholidayand wanttthe children and their leaders fill out feedback forms. Between September 2019 — March 2020 95.8% of feedback forms rated The Oakes as excellent or good. The Holiday Fund provides for those who cannot afford full holiday fees. This 7 month period, 16 bursaries werehave awarded.had a holiday.This Inhassomehelpedcases8 Familiesit has providedand 1 school respite grf o rup.singleWithoutparentsthisand helpcarersthese for young people maychildren with specialnot needs including Autism and Attention Deficit Disorder. In some cases it is giving a holiday for young carers. For Bonfire Night we ran a joint firework display with our local Scout group welcoming over 300 local people. There was a coffee moming on 19 November 2019 where the general public could hear about the work of the centre and look round the listed building and grounds.

Work on house and grounds:

With the lockdown and the Impact Team leaving in March ‘20 work on the house and grounds was limited. bathroomHowever, inwe awereStaffablehouseto refurbishand refurbishone of theanother.showerWerooms,also planmedhave someforroofandrepairs,have nowinstall!completeda mew boilera mewamd extraction system for the commercial kitchen (Jan ’20).

Operational Review

During lockdown, and whilst unable to run holidays on site, 3 virtual holidays were created; in total 72 videos were uploadedto our YouTube channel! during April and May ‘20.

Our 20 year anniversary celebrations also had to be moved online (the video was watched by many more people than couli’ve been accommodated on-site!) and work has continued on the 20th anniversary book.

We have had to adapt operations to working safely during the COVID 19 Pandemic. Staff have been able to continue working, both on-site and at home as Groumstances allowed. As ail Staff ame self-funded) we Ihave not made use of the government furlough scheme.

Within the 10 year Plan mentioned above the SLT looked at every aspect of our operations, with 23 Focus Points and 188 Milestones set in a timeframe of 0-6 months, 6 months — 3 years,and 3 - 10 years. The Plan was agreed by the trustees and shared with Staff before work began on it at the end of summer 2020.

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THE OAKES TRUST (SHEFFIELD)

TRUSTEES’ REPORT- continued FOR THE YEAR ENDED 31 AUGUST2020

Financial Review

The Statement of Financial Activities for the year is set out on page 9 of the financial statements. Income for the year amounted to £244,431 (2019: £788,777 which induded £450,000 receipt of a legacy in the form of properties). Total expenditure amounted to £193,616 (2019: £265,844).

Net movements in funds for the year was a surplus of £50,815 (2019: £522,933) resulting in net assets at the yearendof £2,113,614 (2019: £2,062,799). In 2020 the surplus on the general fund before transfers was £50,800. This surplus was utilised to repay loans and so there was a deficit after transfers of £1,315 on the general fund. Gin 2019 the surplus on the general fund before transfers was £74,501 and the surplus after transfers on the general fund was £20,686.)

Although holliday fee imoome ceased in March there was also a reduction in the associated costs of running camps. Moreover, the charity’s support base is wide and very loyal, and donations increased. Monthly repaymentson the mortgage and long term interest free loans were reduced and the Trust received a COVID

Given this positive assessment of its financial resilience, the trustees are satisfied that it is appropriate to jprapane tie ancounts om a qaing comcenn basis.

Reserves policy

The trustees have reviewed the reserves policy during the year and have adopted a risk based approachto the level of reserves held.

It is tthe policy of tie charity that reserves should be held at a level sufficientto cover fubure loan repayment obligations and significant maintenance expenditure items. Loans due in one year or less at 31 August 2020 were £30,206, an estimate of consultancy work required for planning permission stood at £15,000 and several houses had been identified as requiring reroofing. Free reserves at 31 August 2020 were £56,067.

Properties and associated loans are set aside in a designated fund as described in note 14. There were £2,052,158 designated funds held at 31 August 2020 (2019: £2,005,417).

There were £5,389 restricted funds held at 31 August 2020 (2019: E£nil).

Plans for Future Periods

Due to the COVID 19 situation there is currently uncertainty as to when holidays will resume. However, the centre is welll positioned tm ne-open as soon as we are allowed to. With a brained team im place and adequizite resources, practical and financial, we can re-start holidays without delay. There is no doubt that nationally the ousectorregularhas sufferedschool andbut churchwe anticipategroupsstrwh o ngaredemandkeen toonceretumnormalityas soonreturns;as possible.we have maintained contact with

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THE OAKES TRUST (SHEFFIELD)

TRUSTEES’ REPORT - continued FOR THE YEAR ENDED 31 AUGUST2020

Structure, Governance and Management

Governing document

The charity is a company limited by guarantee. The charity was incorporatedon 1 May 1997 and] registered as a charity on 28 August 1997. The company is governed by its Memorandum and Articles of Association.

Every member of the company has however guaranteed an amountnot exceeding £10 eactn.

Trustees

Potential new trustees are considered and, where appropriate, invitedto join the board. New trusteesare inducted in the structure of the trust and the requirementson them as trustees. Trustee training is delivered via Stewardship seminars and when specific needs arise e.g. new legislation or Charity Commission guidance.

In April 2020 Martin Bell resigned as Chair of Trustees and Paul German re-joimed the Board as Chair of trustees. It was only possible to have a low-key celebration of afl that Mariin and Linda have contributed to The Oakes over many years, but we are deeply grateful to God for them both. Kate Fehler, a qualified and experienced accountant, joined the board as Treasurer in May 2020.

The trustees are continuing to work on the implementation of the recommendations in the 2018 Management & Structures Review by John Truscott. This has induded setting up three new sub-committees — Staffing, Property & Grounds, and Finance.

None of the trusteeshas any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. All trustees give of their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

Organisational structure

Dan and Billie Thaw have overall responsibility for The Oakes whilst the day to day running of the centre is overseen by the Programme Manager, Team Manager and Operations Manager. Strategic decisions conceming the long-term direction of the trust are taken by the trustees.

Riskmanagement

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are byin placethe trustees,to mitigateare exposurereviewedtoannuallythe major(or risks.sooner Theif the majorneedrisksarises) to whichas arethe thecharity ismanagement exposed,proceduresas identifiedfor these risks.

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THE OAKES TRUST (SHEFFIELD)

TRUSTEES’ REPORT - continued FOR THE YEAR ENDED 31 AUGUST2020

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also the directors of the Oakes Trust (Sheffield) for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which 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 charity for that period. In preparing the financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• e observe the methods and principles in the Charities SORP; © make judgements and! estimates that are reasonable and prudent; e State whether appilicatle UK accounting standards have been followed, subjectto any material departures disclosed and explained in the financial statements;

• Prepare the finandal statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at amy tema tie financial position of the charity and te enable them to ensure that the financial statements comply wiltin tie CompaniesAct 2006. They are also responsible for safequarding the assets of the charity amd Inemoe taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the board of trustees on 10 May 2021 and signed on behalf of the board by:

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- ~)
ff é a ! be
a F (.
Anthony Fisher
Tinustiae
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lo a Zo2/{

—

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OAKES TRUST (SHEFFIELD)

I report to the charity trustees on my examination of the accounts of the The Oakes Trust (Sheffield) (the Company”) for the year ended 31 August 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsiblefor the preparation of the accountsin accordance with the requirements of the Companies Act 2006 (the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited! uncer Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your ciharilty’s accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

• I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting recordswere not kept in respect of the Company as required by section386 of the 2006 Act; or

• 1. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of tthe 2006 Act atther 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
• 1. The accounts have not been prepared in accordancewith the methods and principlof the Stat e ments of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable im the UK and! Repufalic of Ireland (FRS 102)].

I have no concemsand have come across no other matters in connection with the examination to whicin attention should be drawn in this reportin orderto enablea proper understandingof the accounts to be reached. Disdaimer significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statementare authorised for is s ue. However, because not all future events or conditionscan be predicted, this statementis not a guarantee as to the charity's ability to continue as a going concern. For example, it is difficult to evaluate all of the potential implications of the current COVID-19 outbreak on the charity's activities, income, employees, suppliers amd the wider economy.

Susan Cochrane, FCA On behalf of: VAS Community Accountancy The Circle 33, Rockingham Lane Sheffield Si 4FW Date: 190 JS/2 |

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THE OAKES TRUST (SHEFFIELD)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |General|Designated|Restricted|Total|Total| |Notes|funds£|funds£|funds£|2020£E|2019£| |Income from:| |Donations,|legacies|and|grants|2|159,923|-|1,832|161,755|580,825| |Charitaiie activities|3|56,784|-|-|56,784|177,739| |Other tracing activities|4|4,692|-|-|4,692|‘9,|[BD3]| |Investments|5|21,200|=|-|21,200|20,410| |Total income|242,599|-|1,832|244,431|788,777| |Expenditure on:| |Charitable|activities| |Camp costs|6|138,969|-|-|138,969|193,170| |Treznm costs|6|48,637|1,817|-|50,454|63,025| |187,606|1,817|-|189,423|256,195| |Other tracing|activities|4|4,193|-|-|4,193|9,649| |Total expenditure|191,799|1,817|“|193,616|265,844| |Net income/|(expenditure)| |before transfers|50,800|(1,817)|1,832|50,815|522,933| |(Gross|thramsifers|between funds|16|(52,115)|48,558|3,557|-|=| |Net movement in funds|(1,315)|46,741|5,389|50,815|522,933| |Fund balances at 1|September 2019|57,382|2,005,417|-|2,062,799|1,539,866| |Fund|balances at 31 August 2020|17|36,067|2,052,158|5,389|2,113,614|2,062,799|

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The statementof fiimamcis! activities alo complies with tthe mequirements foram income amd esqpenditure account wrder tine Companies Act 2006.

Page 10

THE OAKES TRUST (SHEFFIELD)

BALANCE SHEET AT 31 AUGUST 2020

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2020 2019
Notes € £
Fixed Assets
Tangible Assets 10 2,510,019 2,511,159
Current Assets
Stocks 1,444 1,667
Debtors: 11 7,084 R216
Cash at bamk amc im hard 63,144 71,602
71,672 81,485
Creditors: amounts due within one year 12 (40,422) (55,068)
Net current assets 31,250 26,417
Total assets less current liabilities 2,541,269 2,537,576
Creditors: amounts falling due after more than one year 13 (427,655) (474,777)
Net assets 2,113,614 2,062,799
The funds of the charity:
Unrestricted funds
Designated fumds 14 2,052,158 2,005,417
General fund 56,067 57,382
2,108,225 2,062,799
Restricted funds 15 5,389 -
Total charity funds 17 2,113,614 2,062,799
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The company’ is entitled to the exemption from the audit requirement contained im section 477 of tie Companies Act 2006, for the year ended 31 Auqust 2020. The members of the company have not required tthe compamy tho olbtaiim ame audit fim accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to smali companies subject to the small companies. regime and im accordance with FRS102 SORP.

The accounts were approved by the Board on 10 May 2021 and signed on

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Anthony Fisher
Trustee
(Oo May 202( .
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Company Registration Number: 03364486
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Page 11

THE OAKES TRUST (SHEFFIELD) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020

1. Accounting policies 1.1 2=«OBasis of preparation The Oakes Trust (Sheffield) is a charitable company in the United Kingdom limited by guarantee. In the event that tthe charity is wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these finandal statements.

The ffimamciall sitatheamenits Inawe been prepared im accordance with the Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity has taken advantage of the exemption not to prepare a Statement of Cash Hows.

The charity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared winder tte historical cast convention. The financial statements are presented in sterling which is the functionalqunrenoy of tie charity and are roundedto the nearest£.

• 1.2 Income Income & recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations, legacies and other forms of voluntary income are recognised as income when receivable, except insofar as they are imcapaible af financial measurement. Income firam trading activities is recognised as eamedd. Invesiiment income is necognised on a receivable basis. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recoanised at the time of the donation.

Income from charitable activities is induded in the year in which the activity takes place.

13 8 Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The following apportionments im respect of costs of charitable activities have been reflected in note 6:

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Camp costs Team costs
Food and catering 70% 30%
Housekeeping casts 70% 30%
Office costs 85% 15%
Transport costs 25% 75%
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AQ costs are considered direct costs or governance costs, as they are all attributable directly towards the objects and aims of the charity.

(Costs are then split between camp costs, for when camps are in progress, and team costs to cover costs when camps are not in progress but the team continue to live in the centre and receive training and undertake preparation for camps.

Property costs, such as depreciation and loan interest, are allocated between camp costs and team costs where houses have been purchased to accommodate team members.

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THE OAKES TRUST (SHEFFIELD)

NOTES TO THE ACCOUNTS- continued FOR THE YEAR ENDED 31 AUGUST 2020

1. Accounting policies ~ continued 1.4 Tangible fixed assets and depreciation ratesTangiblecalculated!fixed assetsto writeotheroff thethan costfreehold less estimatedland are statedresidualat valuecost lessof eachdepreciation.asset ower Depreciiatiiom its expectedisuseful provided!life, a its follows: Fixtures, fittings & equipment: 20% straight line Freehold buildings; and It is the policy of the charity to maintain properties to such a standard Leasehold property that their value is not impaired by the passage of time. The residual value is similar to it’s imitial cost therefore depreciationwould be immaterial No depreciation is provided in respect of freehold land. An impairment review is carried out annually on freehold land and buildings and leasehold properties. A de Minimis limit on capitalising items has been set on individual items at £500. 15 Stock Clothingstock is valued at the lower of cost and net realisable value. 1.6 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepaymentsare valued at the amount prepaid net of any trade discountsdue. 1.7. Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past evemtt that will probably result im the transfer of funds to a third party amd the amount due to settle the obligation cam be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 1.8 Financial instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. settlement value wit) the exception of bank loans which are subsequently measured) at amortised! cost wsing the effective interest method. 1.9 Accumulated funds General funds are expendable at the discretion of the trustees in furtherance of the objectives of The Oakes Trust. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes.The purposes and uses of the designated funds are set out im the notes to the accounts. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. 110 Going concern

2. The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertaintiesexist. The trustees have considerthe l e velld of funds lheld and the eqpected levell of income amdi is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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THE OAKES TRUST (SHEFFIELD)

NOTES TO THE ACCOUNTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

2.	Incomefromdonations,legaciesandgrants
		Unrestricted funds	Restricted funds	Total 2020	Total 2019
		£	£	£	£
	Donations Grants	134,923 25,000	1,610 ~	136,533 25,000	126,825 -
	(hegacies	= 159,923	222 1,832	222 161,755	454,000 580,825
3.	Incomefrom charitable activities
				2020	2019
				£	£
	Camp fees			56,784	177,739
4.	Other trading income
				2020	2019
				£	£
	Salesofdothing, tuck, icecreams etc.			4,692	9,803
	Expenditure on raisingfunds: costs ofgoods sold			(4,193)	(9,649)
	Net activities for other trading			499	154
5.	Inveshment income
				2020	2019
				£	£
	Propertyandland rental income			21,200	20,410
6.	Charitableactivities
		Camp	Team	Total	Total
		costs	costs	2020	2019
		£	£	E	£
	Camp equipmentand supplies	6,367	.	6,367	20,349
	Foodandcatering Repairsandmaintenance	22,461 45,209	9,626 11,217	32,087 56,426	68,823 36,997
	Grounds costs	8,308	-	8,308	22,186
	Healltiin&safety Hiowsekeeningcosts	1,693 6,251	- 2,679	1,693 8,930	3,162 16,994
	Officecosts Utilities, council tax and insurance	9,915 33,697	1,750 10,477	11,665 44,174	20,992 37,252
	Transportcosts Miscellaneous	1,098 564	3,294 -	4,392 564	3,849 261
	Team expenses	-	9,594	9,594	12,794
	Depreciation	1,140	-	1,140	2,683
	tLoxemjinthemesit Bankchangesamdiinherest Support costs Independent examination	587 735	1,817 - -	1,817 587 735	2,361 1,609 735
	Legalandprofessional fees	944 138.969	- 50,454	944 189.423	5,148 256,195

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THE OAKES TRUST (SHEFFIELD) NOTES TO THE ACCOUNTS- continued FOR THE YEAR ENDED 31 AUGUST 2020

1. Trustee remuneration and expenses, and the cost of key management The trustees were mot paid! or received any other benefits from employment with the Charity im tie year (200%; Enil) neither were they reimbursed expenses during the year (2019: one trustee reimbursed £163 for the use of their car as part of the essential running of the Charity). No charity trustee received payment for professional or other services supplied to the charity (2019: £nil).

Key management comprise the trustees and the non-company director, There were no financial benefits of the key management personnel other than those detailed above. ;

See note 18. for further transactions related to Trustees and key management.

8. Employees

There were no employees during this year or the previous year.

9.	Taxation
	As acharity, The Oakes Tiust (Sheffield) isexempt from tax onincomeand gains tax exemptions to the extent that these are applied to its charitable obj cts. No tax			fallimg witthim the avaiiathite changes Inawe aniisem im t n
	Charity.
10.	Tangiblefixedassets	Freehold		Fixtures
		landand	Leasehold	Fittings&
		property F3	Property £	Equipment £	Total £
	Cost
	At1September2019 At31 August2020	__2,132,576_ 2,132,576	710,570 710,570	57,038 — 2,900,184 57,038 _2,900,184
	Depreciation
	At1September2019 Charge forthe year	289,820 _	43,307 -	55,898 1,140	389,025 1,140
	At31 August2020	289,820	43,307	57,038	390,165
	NetBookvalue
	At 31 August2020	1,842,756	667,263	:	2,510,019
	At31 August2019	1,842,756	667,263	1,140 _2,511,159
11.	Debtors			2020	2019
				£	£
	Fee debtors			-	1,280
	Incometaxrecoverable			7,084	2,936
	Otherdebtors			__= 7,084	8,216

Page 15

THE OAKES TRUST (SHEFFIELD) NOTES TO THE ACCOUNTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

12.	Creditors: amounts falling duewithin oneyear	2020	2019
		£	£
	Trade creditors	2,547	13,523
	Fee income received inadvance	6,934	9,284
	Accrualsandlcithercnadittors Baniklina Otherloans	735 5,006 25,200	2,436 4,625 25,200
		40,422	55,068
13.	Creditors: amounts falling due after more than one year	2020	2019
		£	£
	(Banikloam	42,855	53.977
	Otherloans	384,800	420,800
		427,655	474,777
	Financial instruments
	Loans due inoneyearorless	30,206	29,825
	Loans due in more than one year but not more than two years	131,216	155,121
	Loans clue im mare than two years but mot more than five years homes dive tim mone tihan fie years	207,683 88,756 457,861	213,926 105,730 504,602

Financial instruments measured at amortised cost comprise the bank loan provided by Triodos Bank, which is secured against 14 The Oakes and has a variable interest rate, and interest free loans from individuats.

----- Start of picture text -----
14. Designated funds
The income funds of the chanity include the following designated funds which have been set aside out of
unrestricted funds by the trustees for specific purposes:
Funds Funds
b/fwd Income Expenditure Transfers c/fwd
£ £ £ £ £
iLammall amd touiiletiimggs 2,005,417 - (1,817) 43,558 2,052,158
Land and buildings
The lancl amd property owned by the Oakes, and the loans taken out to fund their purchase, are treated as
designated to give a clearer picture of the unrestricted free reserves of the charity. The transferduring the
year represents property and loan movements as explained in note 16.
b/fwd Income Expenditure — Transfers C/fwd
£ £ £ £ £
Land and buildings __1,503,170 ___——«450,000 22,361) 54,608 _ 2,005,417
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THE OAKES TRUST (SHEFFIELD)

NOTES TO THE ACCOUNTS- continued FOR THE YEAR ENDED 31 AUGUST 2020

15.	Restricted funds
		Funds bffwect		Income	Expenditure	Transfers	Funds c/fumed
		£		£	£	£	£
	Holidayfund		-	1,100	-	(443)	657
	20yearanniversarybook		=	732	-	4,000	FIL
			-	1,832	-	3,557	5,389

Holiday fund

The fund represents monies given to the Trust to provide holidays for free or at a reduced! cost im cases: of financial hardship. The Trust has provided discounted or free holiday places totalling £44 this year,[therefore] this amount has been transferred to the general fund. 20 year anniversary book

Monies given toward the productionof a 20 year anniversary book, in development at the year end. This includes a legacy that was provided for in the 2019 accounts - this has been transferred in to the restricted fund from general funds.

	b/fwd		Income	Expenditure	Transfers	C/fwd
	£		z	£	£	£
	Holiday fund	= -	793 793	- -	(793) (793)	: .
16.	Transfers
					Transfers	to/(from) the
						generalfund
					£	£
	Holiday fund				443
	Book fund				(4,000)
						(3,587)
	Bank loan repayments				(12,558)
	Interest free loan repayments				(36,000)
						(48,558)
						(52,115)
	Transfer to/(fram) the general fundconsists of:
	Holiictery fume					443
	Loan repayments financed by free reserves					(48,558)
						(52,115)

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THE OAKES TRUST (SHEFFIELD) NOTES TO THE ACCOUNTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

17.	Analysis ofnetassets between funds
		Unrestricted	Designated	Restricted	2020
		funds	funds	funds	Total
		£	£	£	£
	Fundbalamoesat31August2020are represented	by:
	Tangiblefixedassets Currentassets Creditors: amounts falling due within one year	- 66,283 (10,216)	2,510,019 - (30,206)	- 5,389 -	2,510,019 71,672 (40,422)
	Creditors: amounts falling due after more than
	oneyear	*	(427,655)	=	(427,655)
		56,067	2,052,158	5,389_	_2,113,614
		funds Ee	funds £	funds £	Total fe
	Fundbalancesat31August2019arerepresentedby:	by:
	Tangiblefixed assets Current assets Creditors:amountsfallingdue withinoneyear	1,140 81,485 (25,243)	2,510,019 - (29,825)	- - -	2,511,159 81,485 (55,068)
	Creditors: amounts falling due after more than
	cane year	= 57,382	(474.777) 2005,417	= -	(474,777) 2062,799

1. Related party transactions Paul German, a trustee, made interest free loans in 2013 and 2017. £6,000 was repaid during the year and the balance of all these loans at 31 August 2020 was £103,800 (2019: £109,800). These loans are interest free and are repayable by monthly instalments.

Jo Hopkins, a trustee, and her husband made interest free loans in 1998 and 2005. Enil was repaid during the yearamd![(renayaiblle] and the balanneiim iimstaimentsof the loansafter 12etmonths31 Augustof the2020lenderwas giving£22,500notice.(2019: £22,500). The loan is interestfree Dan Thaw, key management, and his wife, Billie, made an interest free loan during 2017. £nil was repaid during the year and the balance of the loan at 31 August 2020 was £20,000, (2019: £20,000). The loan is imterest free and repayable in instalments after 12 monthsof the lender giving notice.

Mr J Lockwood (father of Billie Thaw and Jo Hopkins) has given various interest free loans in previous years. £18,000 was repaid during the year and the balance of all these loans at 31 August 2020 was £23,700 (2019: 4,700), These loams are interest free amd are repayable by monthily instalments.

The Anne Milne Trust, of which Billie Thaw is an executor, made an interest free toan during 2017. Enil was repaid during the year and the balance of the loan at 31 August 2020 was £50,000 (2019: £50,000).The loan is linbenestfinee and repayableby instalments after 12 months of the lender qiving notice.

Total donations received from trustees, key management and their close family and other connected charities totalled £14,999im the year.£1,000was for resbriched! fiuncis.

Oakes Restoration Limited, of which Dan Thaw is a director, was paid £1,128 (2019: 1,128) for the maintenance and improvenent of communal areas of the houses that are owned or rented by the Charity.

Page 18

s

THE OAKES TRUST (SHEFFIELD)

NOTES TO THE ACCOUNTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

----- Start of picture text -----
|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Uncestricted|2026|2015| |funds|Designated|Restricted|Unrestrictect|Desioneted)|Restricted!| |£|funds£|funds£|Total£|furndis£|funds£|furrdts£|Totat£| |Income|from:| |Denations, legacies emai anants|255,923|.|1,832|1G6L7355|iIaMes2|45RD,|733|Sa|825)| |Charitable activities|56,764|-|-|56,784|77,739|-|2|UFR TI| |Other|trading|activities|4,692|-|-|4.692|9,803|-|-|9,803| |Investments.|—— 202000|ON|CT| |Total income|242,599|-|1,832|244,431|337,584|450,000)|FS|FEB TIE| |ExpenditureCharitable|activitieson:| |Canmp costs|138,969|>|-|138.969|193.170|=|193,170| |Tearm costs|FG,6FF|LRT|=|SEAS4|ED,|A|2m|=|GRO| |Other trading|activities|187,806;4,193|LRI7=|=-|189,4234,193|Patio5.049 0|||2|Sl!=|==|23h9.A9 USE| |Total|expenditure|“191,799.|+1817.|[~S=—C~S:~Ct<“‘«~N]|RG|NSCiCSC| |Met income/(expenditure)| |before transfers|50,800|(1,817)|1,832|50,815|74,01|7|S39|TS|522,933| |Gross transfers|between|funds|(52,115)|48,558|3,557|-|(53,815)|54,608|(793)|x| |Net movement in funds|{1,315}|46.741|5,389|50,815|20,686|502.247|=|522,933| |Fund|balances|at|1|Seytember|2019|57,382|2005.47|=|2,862,793|G8|1.505, 170|-|LSS|Bee| |Fund balances at 31 August 2020|56,067_|[2,052,158]|||5,389|2,113,614|57,382_|__2,005,417|=|2,962,799|

----- End of picture text -----

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