OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Emmaus Oxford

2025-08-31-accounts

EMMAUS OXFORD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST, 2025

Company No. 3422350 Charity No. 1066618

EMMAUS OXFORD

The trustees present their report including the Director’s Report and the financial statements of the charity for the year ended 31 August 2025.

Trustees’ Report page 1to7
Auditors’ Report page 8to11
Statement of Financial Activities page 12
BalanceSheet page 13
Cash FlowStatement page 14
Notestothe FinancialStatements page 15to21
Further Details on Financial Activities page 22
Thecharity registration number is 1066618andthecompany registration number is3422350.Thecompany is
registeredinEngland.

Registered Office Emmaus Oxford 171 Oxford Road Cowley Oxford OX4 2ES

Trusteesof Emmaus Oxford

The trustees who served during the year, and the dates of any appointments and resignations during the year, were as follows: AHipkin E Mckay (resigned 8 December 2025) B. Moloney A Morgan-Giles N Rose D Maitland M O’Sullivan A Clark (resigned 08 October 2024)

Bankers & professional advisers

Bankers Barclays Bank PLC Auditors Gravita Audit Oxford LLP PO Box 333 Park Central 40-41 Park End Street Oxford, OX1 1JD

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated in England and Wales. It was incorporated on 20 August 1997 and registered as a charity. The company was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association which were last amended on 1st July 2012.

The charity is administered by the trustees, with day-to-day management responsibility delegated to the CEO, Edward Blaze. He in turn has a specialist team of people who deliver a range of services and activities within the charity from management of the community, management of the social enterprise, and specialist training and

2

|

development skills. The charity has a structured process for induction and training of staff which is overseen by the CEO.

The organisation recruits new trustees from a combination of national advertising through the Emmaus UK website and personal recommendation. The trustees have committed themselves to an open and inclusive engagement policy and all trustees are recruited and retained based on the needs of the organisation and an objective assessment of the skills required. This assessment is carried out annually and is compared with a review of the skills and competencies of the trustees. Resource shortfalls are addressed by the recruitment of further trustees and selective training provided to existing trustees.

Emmaus Oxford is a part of the Emmaus UK network by way of a membership agreement. Emmaus UK provides advice and guidance, access to a network of similar organisations, and a range of corporate type services such as marketing and public relations which Emmaus Oxford can use at its discretion. Emmaus must follow several procedures and processes, which are mainly marketing orientated, as part of the membership agreement. Emmaus Oxford operates in all keyways as an independent entity.

.

Pay and remuneration of the charity’s key management personnel are set annually by the trustees, Appropriate benchmarks are used to ensure that key personnel are remunerated fairly and appropriately.

Risk Management

The trustees have carried out a detailed review of the charity's activities and produced a comprehensive strategic plan setting out the major opportunities available to the charity and the risks to which it is exposed. The trustees monitor progress annually against the strategic objectives set out in the plan. As part of their review, the trustees have implemented a risk management strategy which comprises:

|

The principal financial risks to the organisation remain its dependence on its two main income streams, the store (or social enterprise) and housing benefit which continue to be supplemented by generous donations from supporters. The second-hand furniture store maintains its sales levels with limited growth below expectations. The other main income stream is the Companions’ housing benefit which will be subject to review as part of the government's ongoing welfare reforms and the trustees maintain a focus on these issues. The charity is continuing to develop its training and development strategy in part as a risk mitigation for potential changes in UK Government policy in its application of housing benefit.

The trustees are aware of their responsibilities to ensure compliance with all statutory legislation and the main areas considered are as follows:

==> picture [435 x 88] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |®|Charity law|e|Working Time|Regulations| |e|Company|law|e|Human|Rights Act| |e|Trustees' Act|e|Race|relations| |e|Data|Protection Act|& GDPR|e|Health &|Safety| |e|Disability|Discrimination Act|e|Office,|Shops and|Railway Premises Act| |e|Employment and|National Minimum Wage|e|Compliance with|taxation|regulations| |laws|relating to employees|and donors|

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

Objectives of Emmaus Oxford

The charity's objects are the alleviation of poverty and hardship, and distress arising therefrom, for those in need, without distinction.

The principal aim of the organisation is to provide accommodation, support, learning and development and work activity for homeless persons, and to achieve the financial sustainability necessary to underpin this by increasing trading revenues and trading surpluses to support this Emmaus Community in Oxford. The charity has also

3

}

|

received much-needed donations in support of the Community. Continuing contributions in the form of housing benefit and donations will be required in addition to the trading income.

Achievements & Performance

Emmaus Oxford continues to focus on developing the Community, specifically helping Companions develop the skills and experience necessary to “move on” from the Community and operate outside the Community, and ensuring that the organisation has a sound basis for the long term. The Community can support 28 Companions, with homeless people recruited when vacancies arise; we are continuing to expand and have started the development of two further properties next to the Community at 167 and 169 Oxford Road; these will be used as a transitional facility for Companions seeking more independent living as the plan to ‘move on’ in the near future. The Charity is actively progressing the purchase, development and fund-raising for an additional transitional facility on Oxford Road. Overall, we hope to adda further 12 places to the Community over the next 12 months.

Key Companion outcomes were:

On a more personal level, we look to provide Companions with a safe and stable place to live, a place witha common purpose, and a place where Companions can rebuild their confidence, self-respect, and skills to enable them to rejoin the wider community. This included:

There is an ongoing focus on training and development; not only is this a core mission of the Charity, but it also recognises that in order for Companions to move on successfully, there is a need to build a wider range of skills and experience; the programmes revolve around a number of key strategic objectives:

|

The charity is actively developing a plan to become an accredited training centre and provider and is actively looking at additional sources of funding to build out the resources needed for this programme. Whilst it remains too early to demonstrate clear outcomes, there are positive signs from the programme where Companions have been able to obtain good jobs on the back of specific skills training under the programme. We will be excited to see a more formal review of these programmes’ outcomes in due course.

The charity is also active in the local community with a regular outreach programme for homeless people in the area providing equipment and food. We also work in conjunction with other charities in the area to support local interventions run by other groups.

Emmaus Oxford runs a Social Enterprise in the form of a second-hand furniture retail operation in Barns Road (near the community). It provides work experience, training and a sense of purpose for Companions as well as contributing to the finances of the Community. Sales of second-hand furniture and other goods were flat this year reflecting the headwinds common across high street retail. Our management team re-focused on the essentials of retailing, addressing stock selection, merchandising, customer engagement and staffing. Social media posting helped our team to address the decline in customer footfall. A new IT system helped us improve furniture collection, in store control and deliveries. Furniture donations and store sales rose in the second half of the year, supported by improvements to our house clearance service. Online sales held up and will receive further attention to promote growth.

==> picture [2 x 8] intentionally omitted <==

----- Start of picture text -----
,
----- End of picture text -----

4

Financial Review

The Emmaus Oxford Community has three main sources on income: housing benefit, donations, and the contribution from the social enterprise. Before we include the contribution from the enterprise, the community ran a deficit of (£104,129) as a result of lower income from donations and grants. The small positive overall surplus of £86,325 was a result of a contribution from the social enterprise of £190,454. The table below shows the main sources of funds and expenditure for theEmmaus Oxford Community:

==> picture [431 x 49] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Source|of|funds|Keyexpenditureareas|of| |Social|Enterprise:|£190,454|Salary and|wages:|£251,390| |Housing|Benefit:|£250,422|Companion|subsistence:|£171,501| |Grants|and|Donations:|£223,912|Operating the|premises:|£151,190.|

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

The key assets of the charity remain its properties (freehold and leasehold) at £1.2m in total and investments worth nearly £500k. There is a relatively high cash reserve currently as the charity prepares for the building works in 167/169 Oxford Road.

‘

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

Plans for the future

Emmaus Oxford seeks to support and encourage all Companions to move-on to independent living as soon as they are able, and has resources dedicated to assisting companions in making this transition. The future strategy has two key components:

  1. We continue to increase the number of Companions or Affiliates that can be supported by Emmaus Oxford; the acquisition of 167 Oxford Road will be one of the elements which supports this strategy. Plans for the anticipated move on accommodation at 167 Oxford Road are complete, and construction work is about to start; we are aiming to open the new facility in June 2026. This will be supplemented by an additional property which is in the progress of acquisition. This acquisition will present further opportunities for the development of the site to provide a wider range of accommodation.

  2. Wewill look to expand and increase our focus on training and development and are actively exploring becoming a Nationally Accredited Training Centre in orderto enhance the current education and training provided to Companions. We are actively investing in fundraising to progress this and provide more structured training for companions to enable them to move into external employment.

Fundraising

Emmaus Oxford is registered with the Fundraising Regulator and complies with their Code of Fundraising Practice. The charity received no complaints about its fundraising this year. All fundraising campaigns were run by one member of staff directly employed by Emmaus Oxford using communications by direct mail, email and social media. Emmaus Oxford is signed up to the Fundraising Preference Service, but this year received no requests from this service. Supporters of Emmaus Oxford can elect, through the website, to receive the newsletter and have the opportunity to review and change their communication preferences similarly for all mass communications.

Emmaus Oxford continues to apply its supporters’ privacy policy and its ethical fundraising policy to maintain high standards in our fundraising. Both are available on the website. The ethical fundraising policy describes the steps it takes if offered a donation from someone who is potentially vulnerable and gives details on how to make a complaint about our fundraising. The privacy policy for supporters contains details on the steps the charity takes to protect supporters’ data.

In the year 2024-2025, we invested £68,027 in fundraising directly, mainly in the form of salaries; the trustees believe they continue to get great value from this activity, and it continues to be successful, and Emmaus Oxford received strong support in the form of grants and donations.

5

|

Equality, diversity and inclusion

.

Emmaus Oxford wants to offer an environment which invites and welcomes diversity amongst the staff, volunteers and companions. This year Emmaus Oxford took the following steps towards that goal:

Safeguarding and serious incidents

Emmaus Oxford are committed to supporting the safety and wellbeing of our Companions, many of whom have care and support needs. All staff undertake mandatory training in Safeguarding Adults (levels 1 and 2) and Safeguarding Children, with annual refresher courses. A Trustee Lead on Safeguarding has been appointed. Safeguarding is referenced and tested in recruitment.

Emmaus Oxford reported no serious incidents to the Charity Commission during this year.

Public Benefit

Emmaus Oxford is committed to helping homeless people make a new start. The charity operates two community buildings which allow it to provide a home for a number of them. Over the past 10 years it has accepted many homeless people as 'Companions' who are living in the Community and working there and at the second-hand furniture store. The charity provides affordable furniture and household goods in the second-hand furniture store for the public, much of which might otherwise go into landfill. The charity is therefore providing a public benefit in accordance with its objectives. The trustees have complied with their duty under Section 17/5 of the Charities Act 2011 having regard to the guidance on public benefit issued by the Charity Commission.

Reserves Policy

The trustee’s review of the reserves of the charity encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments, and the nature of the reserves. The review concluded that to allow the charity to be managed efficiently, there is a requirement for £300,000 of working capital. In addition, the trustees want to ensure that companions have sufficient time to make other arrangements in case of a severe issue and look to provide a buffer for uninterrupted services, and so provides for a general reserve, equating to around three months’ expenditure (£300,000), held in unrestricted funds, and not committed or invested in tangible fixed assets.

Funds of £855,000 have been designated by the trustees for work already under way such as the 167/169 building programme. It should be noted that a further £1,250,271 of funds are designated for the buildings which the charity owns or leases.

The unrestricted and undesignated funds of the charity sit at £508,162, so the charity is actively seeking further funding for the 'move-on' accommodation while retaining its contingency reserve and working capital, and to date these efforts are proving positive.

Investment Approach

Emmaus Oxford's investment policy sets out the trustees’ approach to investing. It is a framework for making investment decisions, managing our financial resources, and meeting our governance responsibilities. The trustees review the investment policy annually to ensure that it continues to align with the charitable mission and objectives.

The charity’s investment objectives are to generate sustainable returns that allow the charity to achieve its charitable objectives while protecting the capital value of its investments, a mix of growth and income. The trustees recognize that every investment carries risk and will manage these risks to ensure that they are

6

Sees rriieusust Ge ithrocerater the charity’s ‘ rocowrtcing. objectives— chat andthere the will financial: be fluctuations; resources in availab thei va l e.ue The of the assets riski appeti inite pursuitis of the INVESTMENT OVJECtiVES.

Emmaus Oxford invests in a diversified range of asset classes and regions through pooled investments. The trustees will consider investment in stocks, bonds, property, and other investment vehicles that are not inconsistent with our charitable mission and seeks advice on investment decisions.

The trustees manage Emmaus Oxford’s financial resources in line with its objectives, risk appetite, and investment policy. The amount available for investment will be reviewed annually, and the trustees will adjust the investment strategy as necessary to ensure that the charity continues to meet its objectives. The trustees will ensure that the charity has sufficient liquidity to meet its financial commitments and ensure that in the event of a major issue, there are sufficient financial resources to ensure that companions are minimally disrupted; it will invest in liquid assets and maintain an appropriate level of cash reserves to ensure that it can have access to money when needed.

Investment performance, primarily related to the M&G Charifund, in the year met the charity’s expectations, and where invested in stocks, performed in line with the benchmark.

Trustees’ Responsibilities

The trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with any reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements 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 irregularities.

So far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditors are unaware, and each trustee has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

This Report has been prepared in accordance with FRS 102, and the Charities SORP 2026 as well as the small companies’ regime under the Companies Act 2006.

Approved by the trustees on the 4 March 2026

==> picture [252 x 62] intentionally omitted <==

----- Start of picture text -----
Andrew Morgan-Giles
Chair of Emmaus Oxford fr? ) .
Md Mw Cok -
----- End of picture text -----

|

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF EMMAUS OXFORD

Opinion

We have audited the financial statements of Emmaus Oxford (the “Charity”) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statements and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion,the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

8

, | } |

| |

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

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

Responsibilities of the trustees

| .

As explained more fully in the trustees’ responsibilities statement [set out on page 7], the trustees, who are also directors of the charitable company for the purposes of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

9

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

==> picture [2 x 15] intentionally omitted <==

----- Start of picture text -----
,
----- End of picture text -----

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: ® agreeing financial statement disclosures to underlying supporting documentation;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.irc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

10

16 March 2026

} | | }

EMMAUS OXFORD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT For the year ended 31 August, 2025

==> picture [478 x 308] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Total|Total| |Note|Unrestricted|Restricted|2025|Unrestricted|Restricted|2024| |£|£|£|£|£|£| |Income| |Donations&|Legacies|69,612|154,300|223,912|156,487|171,398|327,885| |Other|trading|activities|15,441|-|15,441|2,710|-|2,710| |Investment|income|3|42,301|42,301|42,235|42,235| |Charitable|activities- Store|618,718|-|618,718|613,475|-|613,475| |Housing|benefit|forCompanions|250,422|-|250,422|267,002|-|267,002| |Other|income|-|Gift|Aid|37,073|-|37,073|42,317|-|42,317| |Totalincome|1,033,567|154,300|1,187,867|1,124,225|171,398|1,295,624| |Expenditure| |Raising funds|8|68,027|-|68,027|74,864|-|74,864| |Events costs|3,558|-|3,558|3,103|=|3,103| |Development|related costs|18|-|.|-| |Charitable|activities|4|1,007,903|93,639|1,101,542|947,575|130,902|1,078,477| |Total|expenditure|1,079,487|93,639|1,173,126|1,025,542|130,902|1,156,444| |Net income from|operating activites|(45,921)|60,661|14,740|98,683|40,497|139,180| |Net gains/(losses) on|investments|20,769|-|20,769|46,666|-|46,666| |Net income (expenditure)|for|the year|(25,151)|60,661|35,510|145,349|40,497|185,846| |Fund|balances| |Net movement|in funds|(25,151)|60,661|35,510|145,349|40,497|185,846| |Brought forward at1|September,|2024|2,638,584|53,159|2,691,743|2,493,234|12,662|2,505,897| |Carried|forward at|31|August,|2025|2,613,433|113,820|2,727,252|2,638,584|53,159|2,691,743|

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

Note: Emmaus Oxford operates a Social Enterprise in the form of a store in Barnes Road in order to provide work experience and training to Companions as well as contribute to the operating of theCommunity. This has the effect of inflating the Income to the Charity. The income from the Community without the Store Contribution is £528,743.

12

}|

' EMMAUS OXFORD (Co number 3422350) BALANCE SHEET

For the year ending 31st August 2025

==> picture [481 x 401] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Notes|2025|2024| |£|£| |Fixed Assets| |Leasehold|Property|10|532,672|537,264| |Freehold|Property|10|717,599|690,948| |Equipment|10|8,345|12,517| |Motor|Vehicles|10|8,267|16,189| |Tangible assets|1,266,882|1,256,918| |Investments|3&11|499,614|478,845| |Total|fixed assetsIntangible assets|10|1,766,496:|1,735,763:| |Current assets| |Cash|at|Bank|931,847|978,617| |Debtors|12|97,962|64,780| |1,029,808|1,043,396| |Creditors| |due within one year|13|(69,051)|(87,416)| |Net current assets|960,757|955,980| |Total|assets|less current|liabilities|2,727,253|2,691,743| |Creditors| |due|after more than one|year:|(see|note|14)|-|-| |Net assets|2,727,253|2,691,743| |Funds| |Restricted|funds|16&17|113,820|53,159| |Unrestricted|funds|(designated)|16&17|855,000|1,228,212| |Unrestricted|(designated|building|16&17|1,250,271|=| |Unrestricted funds|(other)|16&17|508,162|1,410,372| |Total charity|funds|2,727,253|2,691,743|

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

These accounts were approved and authorised for issue by the directors on the 4" March 2026

Andrew Morgan-Giles Chair of Emmaus Oxford

13

}

EMMAUS OXFORD CASH FLOW STATEMENT

For the year ended 31 August, 2025

2025 2024
£ £
Cashflowsfrom operatingactivities:
Net cash provided by(used in)operatingactivities (62,421) 130,235
Cashflows from investing activities:
Dividends, interestand rentsfrominvestment: 42,301 42,235
Purchase ofproperty (26,650) -
Netcash providedby(used in)investingactivities 15,651 28,220
Cashflowsfromfinancing activities:
Net cash providedby(used in)financing activities - -
Resultantcashflow (46,770) 158,455
Reconciliation ofnet income/(expenditure) tonetcashflow
Cashand cash equivalentsatstart of the ReportingPeriod 978,617 820,161
Cashandcash equivalentsattheend of the ReportingPeric 931,847 978,617
Netcash inflows/{outflows) (46,770) 158,455
Reconciliation ofincometocashflows
Operatingcashflow (62,421) 130,235
interest 42,301 42,235
depreciationcharges (16,687) (20,828)
gains/(losses)
oninvestments		 20,769 46,666
Increase/(decrease) indebtors 33,182 11,616
(Increase)/decrease increditors 18,365 (24,078)
Incomegiven inStatement ofFinancialActivities 35,510 185,845
Analysis ofcashandcashequivalents
Cashinhand 931,847 978,617
Totalcashandcashequivalents 931,847 978,617
Analysis ofchanges innetdebt at start cashflows othernon-cash atend
ofyear changes ofyear
£ £ £ £
Cash 978,617 (46,770) - 931,847
Loansfallingdue withinone year - -
Loans fallingdueafteroneyear - - - -
Total 978,617 (46,770) - 931,847

14

| | | }

|

EMMAUS OXFORD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August, 2025

  1. ACCOUNTING POLICIES

  2. a. Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard 102 , the Companies Act 2006 and follow the recommendations in "Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102)". Emmaus Oxford is a charitable company limited by guarantee and incorporated in England and Wales. The charity is a public benefit entity. The registered address is 171 Oxford Road, Cowley, Oxford, OX4 2ES.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

|

Income from donated goods is recognised when those goods are sold because it is impracticalto assess their value on donation.

Freehold land and buildings NIL

15

|

Assets are not capitalised unless the purchase cost orvalue assessed at acquisition is greater than £2,000. Depreciation will be provided for the leasehold superstore in Barns Road commencing in 2016-17, on a straight-line basis, £574,000 over 125 years.

No depreciation has been charged on the Charity's freehold property as the residual value of the properties is higher than their cost, and therefore any depreciation charge would be immaterial. Properties are reviewed annually for impairment

Emmaus Oxford operates a defined contribution pension scheme and contributions are charged to the Statement of Financial Activities as they become payable.

Debtors are recognised when the charity has an entitlement to income that is probable and can be measured reliably. These include accrued interest and housing benefit yet to be received. Debtors are measured at the amount expected to be recovered, based on the best estimate of the amount’s receivable at the balance sheet date.

Prepayments are valued at the amount prepaid for goods or services to be received in the future. The balance also includes prepayments relating to property-related activities.

Creditors are recognised when the charity has a present obligation arising from a past event that will result in the transfer of funds to a third party and the amount can be measured reliably. Creditors are measured at their settlement amount.

Provisions are recognised for liabilities of uncertain timing or amount when the charity has a present legal or constructive obligation as a result of a past event, it is probable that a transfer of economic benefit will be required to settle the obligation, and the amount can be estimated reliably. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the balance sheet date.

Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised as other gains or losses and are included in net income/expenditure for the year.

Transaction costs are expensed as incurred.

  1. CRITICAL ACCOUNTING ESTIMATES

In the process of applying the charity's accounting policies, the trustees make judgements and estimates. These judgements and estimates are evaluated regularly and are based on historical experience and other factors including expectations of future events. The trustees consider there are no significant accounting judgments or estimates to report in this period.

16

|

3. INCOME FROM CHARITABLE ACTIVITIES

==> picture [481 x 493] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Donations and|Legacies|Restricted|Unrestricted|223,912|327,885| |Donations|48,900|57,349| |Grants|105,400|12,063| |Bequests|200| |Housing benefit for Companions|250,422|267,002| |Other|trading|activities|15,441|2,710| |Rent|12,392| |Other|income|3,048| |Investment|Income|42,301|42,235| |Bank interest|11,380|12,076| |Dividends|receivable|30,921|30,159| |Total|Community|Income|532,076|639,832| |Social|Enterprise|Income|(Store)|618,718|613,475| |Gift Aid|37,073|42,317| |Total|Social|Enterprise|Income|655,791|655,792| |INCOME FROM CHARITABLE ACTIVITIES|1,187,867|1,295,624| |4.|CHARITABLE|ACTIVITIES| |Emmaus|Furniture|Total|Emmaus|Furniture|Total| |Community|Store|2025|Community|Store|2024| |£|£|£|£|=|£| |Costs|of activities|undertaken directly|172,632|293,592|466,224|190,790|252,457|443,247| |Indirect support costs|463,573|171,744|635,318|464,925|170,305|635,230| |Totals|636,205|465,337|1,101,542|655,715|422,762|1,078,477| |Emmaus|Furniture|Total|Emmaus|Furniture|Total| |Community|Store|2025|Community|Store|2024| |£|£|£|£|£|£| |Activities|undertaken|directly|represent:| |Salaries|&|wages—|Note|8|-|176,062|176,062|-|175,108|175,108| |Materials|-|25,975|25,975|-|13,144|13,144| |Vehicle|runningcosts|1,130|84,357|85,488|355|51,196|51,551| |ExpensesforCompanions|171,501|7,198|178,699|190,435|13,008|203,443| |Totals|172,632|293,592|466,224|190,790|252,457|443,247| |Contribution to Charity Return|(104,129)|190,454|86,325|(15,882)|233,030|217,148|

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

4. CHARITABLE ACTIVITIES

17

f

|

|

|

5. SUPPORT COSTS

==> picture [479 x 265] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Emmaus|Furniture|Total|Emmaus|Furniture|Total| |Community|Store|2025|Community|Store|2024| |£|£|£|£|£|£| |Salaries&|wages — Note|8|251,390|58,687|310,077|224,593|58,369|282,963| |Expenses for volunteers|-|838|838|-|352|352| |Recruitment Advertising|744|6,040|6,783|985|1,462|2,447| |Marketing|3,890|11,341|15,231|2,633|10,062|12,695| |IT|1,904|10,251|12,156|1,936|4,784|6,720| |Travelling expenses|1,899|-|1,899|1,882|4|1,886| |Telephone|5,086|6,256|11,342|4,433|5,466|9,899| |Rent,|rates|& water|117,294|(5,958)|111,337|108,311|5,606|113,917| |Light & heat|33,772|14,644|48,416|36,049|13,611|49,660| |Printing, postage & stationery|3,393|982|4,374|3,583|3,030|6,613| |Other|office costs|3,547|24,275|27,822|4,396|19,267|23,662| |Maintenance|and|repairs|124|3,861|3,985|126|2,555|2,681| |Other premises costs|11,501|15,458|26,959|26,383|12,436|38,819| |Insurance|4,903|13,613|18,516|4,548|14,130|18,678| |Professional Fees|2,076|950|3,026|22,748|960|23,708| |Governance|costs|- Note 6|2,250|2,250|4,500|2,290|2,250|4,500| |Bank|charges|718|100|817|327|263|590| |Depreciation|8,764|7,922|16,687|5,261|15,567|20,828| |Amortisation|-|-|-|-|-|-| |Miscellaneous|10,320|234|10,554|14,481|132|14,613| |Totals|463,573|171,744|635,318|464,925|170,305|635,230|

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

==> picture [371 x 107] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |6.|GOVERNANCE|COSTS| |2025|2024| |£|£| |Auditors’ remuneration|4,500|4,500 _| |son|OO|ee| |7.|NETMOVEMENTIN|FUNDS| |2025|2024| |The|net|movement|in|fundsis|stated after charging:|£|£| |depreciation|of tangible fixed|assets owned bythe|charity|16,687|20,828|

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

8. EMPLOYEES AND STAFF COSTS

==> picture [478 x 138] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |No.|No.| |The aggregate|headcount number of full and|part|time|persons employed|during|the|year was:|23|24| |Staff|costs|were|as|[follows:]| |Costof|Directcosts|Support Costs|Total|Total| |Generating|Furniture|Community|Furniture|2025|2024| |Funds|Store|Store| |£|£|£|£|£|£| |Salaries|& Wages|61,000|159,045|223,666|53,015|496,726|480,185| |National|Insurance|4,587|11,602|19,746|3,867|39,803|35,389| |Pension|contributions|2,440|5,415|7,978|1,805|17,638|17,361| |Totals: 2025|68,027|176,062|251,390|58,687|554,167|532,935| |Totals: 2024|74,864|175,108|224,593|58,369|

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

One employee earned more than £60,000 in the band £60,001 to £70,000 (2024: None)

9. REMUNERATION OF TRUSTEES AND KEY MANAGEMENT

In aggregate the trustees and key management received remuneration of £63,422 for their services (£61,000 in 2023-24).

18

! ! | |

|

;

10. FIXED ASSETS

Leasehold
asset		 Leasehold
asset		 Freehold Assetsunder
construction		 Fixtures
Fittings&
Equipment		 Motor
Vehicles		 Total
£ £ £ £ £
Cost
Asat
1 September,2024
Additions
Disposals
Asat 31 August, 2025		 574,000
-
-
574,000		 690,948
-
S
690,948		 -
26650
=
26,650		 25,002
E
=
25,002		 88,827
-
:
88,827		 1,378,777
26,650
-
1,405,427
Depreciation
As at 1 September, 2024 36,736 - : 12,485 72,638 121,859
Chargefor theyear 4,592 - - 4,172 7,922 16,687
Disposals - “ = . :
As at 31 August,2025 41,328 - # 16,657 80,560 138,546
NetBookValue
As at 31 August,2025 532,672 690,948 26,650 8,345 8,266 1,266,882
Asat 31 August, 2024 537,264 690,948 - 12,517 16,189 1,256,918
Intangibleassets
Goodwill 15,800
Amortisation 15,800
Net book value asat 31 August, 2025 -
Net book value asat 31 August,2024 =
Emmaus Oxford has granteda leasehold interest inthe propertyat 171 OxfordRoadtoDominion HousingGroup
for125years. In return, Dominion HousingGroup assisted infunding fundingconstruction oftheCommunity property on
the site.
11. INVESTMENTS
2025 2024
Investment Portfolio £ £
Broughtforward £478,845 £432,179
Additions - -
Disposals - zi
Revaluation £20,770 £46,667
Carried forward £499,614 £478,845
Investmentsare heldin M&G Equities Investment Fund forCharitieswhich isa listedfund
12. DEBTORS
2025 2024
£ £
Accrued interest on deposits 11,380 10,966
VATrepayment 3,640 6,292
Gift aid reclaimedfromHM Revenue &Custom 8,365 7,480
Prepayments 35,744 22,070
Trade Debtors 30,855 7,025
HousingbenefitfromOxford CityCouncil 7,977 10,947
Donations . .
97,962 64,780

Emmaus Oxford has granted a leasehold interest in the property at 171 Oxford Road to Dominion Housing Group for 125 years. In return, Dominion Housing Group assisted in funding construction of the Community property on the site.

11. INVESTMENTS

12. DEBTORS

19

| , , |

13. CREDITORS DUE WITHIN ONE YEAR

2025 2024
£ £
Taxesand social security Z =
Companionfunds 19,004 23,216
Accruals 4,623 16,434
Tradecreditors 45,425 47,766
69,051 87,416

14. CREDITORS DUE AFTER ONE YEAR

None

15. SHARE CAPITAL

Emmaus Oxford is a company limited by guarantee with no share capital. The liability of each member is limited to£1.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Buildings Designated Restricted Total
£ £ £ £ £
Fixedassets 41,226 1,250,271 475,000 - 1,766,496
Netcurrentassets 466,937 : 380,000 113,820 960,757
508,162 1,250,271 855,000 113,820 2,727,253
Creditors
due aftermorethanoneyear		 = = = - =
Netassets:2025
Netassets:2024		 508,162
1,410,372		 1,250,271
1,228,212		 855,000
-		 113,820
53,159		 2,727,253
2,691,743

In the year 2024-25, restricted donations were given to Emmaus Oxford to the value of £136,463. A further £53,159 has been carried forward to year 2024-25 from 2023-24, mainly related to facilities. Some Restricted funds were spent during the year against their allotted purpose (see note 17).

In the year 2013-14, £289,000 was paid to Greensquare Group for the purchase and construction of the new furniture store, and a further £285,000 was paid in 2015-16, amounting to £574,000 in total.

17. ANALYSIS OF CHARITABLE FUNDS

Analysis of Movement in Restricted Funds

Balance 1
Sept2024		 Income Eependiturs
P		 Gains,losses
andtransfers		 Gains,losses
andtransfers		 Funds31
August2025
£ £ £ £ £
Facilities fund 51,219 17,506 (5,072) 63,653
Companionwellbeingfund 1,940 136,794 (88,567) - 50,167
53,159 154,300 (93,639) - 113,820
Comparisontoprevious year
Balance 1
Sept2023		 Income ;
Expenditure		 Gains, losses
andtransfers		 Funds31
August2024
£ £ £ £ £
Facilitiesfund 5,500 49,709 (3,990) 51,219
Companion wellbeing fund 7,162 121,689 (126,911) - 1,940
12,662 171,398 (130,901) - 53,159

20

| |

| |

Analysis ofMovement in Designated Funds
Balance 1
Sept2024		 Income .
Expenditure		 Gains, losses
andtransfers		 Funds 31
August 2025
FacilitiesandAssets £
1,228,212		 £ - £
(4,592)		 £
26,650		 £
1,250,270
FacilitiesDevelopment - = 2 855,000 855,000
Trainingand Development - - - - -
Unrestrictedfunds 1,410,372 1,054,336 (1,074,895) (860,881) 528,932
2,638,584 1,054,336 (1,079,487) 20,769 2,613,433
Comparisonto previousyear
Balance 1
Sept 2023		 Income :
Expenditure		 Gains, losses
andtransfers		 Funds 31
August 2024
£ £ £ £ £
FacilitiesSupport 1,232,804 - (4,592) - 1,228,212
FacilitiesDevelopment - - . -
Training
andDevelopment		 - = A = -
Unrestrictedfunds 1,260,431 1,124,225 (1,020,950) 46,666 1,410,372
2,493,235 1,124,225 (1,025,542) 46,666 2,638,584

18. RESTRICTED AND DESIGNATED FUNDS

Restricted funds in the charity reflect two primary purposes:

Designated funds are unrestricted funds which the trustees have set aside for particular purposes. The trustees nave set up a designated fund equal to the net book value of the charity’s freehold and leasehold property. In addition, Facilities expansion has been designated by the Trustees for investment in the new facilities programme.

18. DEVELOPMENT RELATED COSTS

Costs associated with the new buildings which have been capitalised

£
Architect 21,279
Other 1,409
Planning 1,113
Survey 2,850
26,650

20. COMMITMENTS

On 21st February 2008 Emmaus Oxford entered into a management agreement with Dominion Housing Group in relation for a 125-year lease of 171 Oxford Road under which Emmaus Oxford has to pay for the use of the building. The amount currently payable is £81,617 per annum. The lease can be terminated by Emmaus Oxford by giving two years' notice.

On 15 April, 2013 Emmaus Oxford entered into an Agreement for Lease with Oxford City Housing Association Limited and Greensquare Group Limited for the grant of a lease to Emmaus Oxford of property at Barns Road, Oxford for a term of 125 years in consideration of a premium of £574,000. (see Leasehold Asset in note 9)

21. TRUSTEES

Trustees were not reimbursed for expenses during the period and received no remuneration.

21

No donations were received from trustees and related parties in 2024-25 (£120 in 2023-24). No related party transactions took place in the year.

22. OTHER NOTES - PRIOR YEARS

Grants from Emmaus UK to Emmaus Oxford were received in previous years amounting to £140,000 in total and which would be immediately refundable if Emmaus Oxford ceases, for whatever reason, to be a Member of the Federation of Emmaus in the UK.

The purchase of the freehold property at 167, Oxford Road was completed on 3rd February 2022 for a total consideration of £490,000.

23. FURTHER DETAILS ON STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 August 2025

==> picture [508 x 474] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |Charitable activities|£|£| |Overall costs| |Wages,|salaries,|Employer’s NI & Pension|Contributions|486,139|458,071| |Materials|25,975|13,144| |Vehicle running costs|85,488|51,551| |Companions’ allowances & food costs|178,699|203,443| |Volunteer expenses & training|838|352| |Recruitment Advertising|6,783|2,447| |Marketing|15,231|12,695| |IT|12,156|6,720| |TravellingTelephone expenses|11,3421,899|9,8991,886|:| |Rent, rates&|water|111,337|113,917| |Light & heat|48,416|49,660| |Printing,|postage &|stationery|4,374|6,613| |Other|office|costs|27,822|23,662| |Maintenance|and|repairs|3,985|2,681| |Other premises costs|26,959|38,819| |Insurance|18,516|18,678| |Professional|Fees|3,026|23,708| |Bankcharges|817|590| |Depreciation|16,687|20,828| |Amortisation|-|-| |Miscellaneous|10,554|14,613| |1,097,042|1,073,977| |Cost of generating funds| |Fund-raising|costs| |Salaries and|Employer’s|National Insurance|68,027|74,864| |Event charges|3,558|3,103| |71,585|77,967| |Governance costs| |Audit|and|accountancy|fees|4,500|4,500| |Total expenditure|1,173,127|1,156,444|

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

22