Oak Tree Anglican Fellowship Trust ## Trustees Report ## and ## Financial Accounts for the year ended 31 December 2022 ## **Independent Examiner** : Mark Nicholson of Mark Nicholson Bookkeeping ## **OAK TREE ANGLICAN FELLOWSHIP TRUST** Page 1 CONTENTS |Page 3 to 4|Legal and Administrative Information| |---|---| |Page 5|Independent Examiner's Report| |Page 6 to 7|Review of the period| |Page 8|Statement of Financial Activities| |Page 9|Balance Sheet| |Pages 10 to 13|Notes to the Financial Statements| Page 2 ## **OAK TREE ANGLICAN FELLOWSHIP TRUST** ## LEGAL AND ADMINISTRATIVE INFORMATION ## **Name:** Oak Tree Anglican Fellowship Trust. The name of the trust was changed by deed on 14[th] March 2010 from the Oak Tree Charitable Trust to the Oak Tree Anglican Fellowship Trust. ## **Registered Charity Number:** 1067145 To comply with a provision of the Charities Act, which required all previously excepted charities / churches with gross income in excess of £100,000 to individually register with the Charities Commission, the Oak Tree Anglican Fellowship a non-parochial church in the Church of England gifted all of its assets to the Trust effective 31[st] March 2010. The charity had previously been registered by the Fellowship to undertake various charitable activities which were no longer being pursued. ## **Trustees:** The Trustees of the charity during the year were: Revd Tim Sudworth (chairman) Simon Brewster Sarah Miller Chin Tiong Tan At the Annual General Meeting of 23 April 2023, the new electoral roll was published with a membership of 48. ## **Advisory Church Council** During the year the following served as members of the ACC: Revd T. Sudworth Minister in charge } Mrs S. Miller Church Warden } Steering Group Mr C. T. Tan Church Warden } Mr S. Brewster Treasurer } Mr R. Edwards Mrs V. Wells Miss C. Hope Mrs E. Lewis Ms E. Benwell Page 3 ## **OAK TREE ANGLICAN FELLOWSHIP TRUST** LEGAL AND ADMINISTRATIVE INFORMATION (continued) The policy of the fellowship is to give away at least 10% of its income to other causes. The giving fund is under the administration of a committee comprising Revd T. Sudworth, Mrs M Lo (chairperson), and Ms J. Towell. The giving is divided 80% to the Giving Committee and 20% to the Vicar’s Discretionary Account. ## **Governing Instrument** : The Trust was established by a deed of trust dated 4[th] November 1997. ## **Correspondence Address:** 216 Acton High Street London W3 9NX **Primary Bankers** : Santander UK plc Business Banking 301 St Vincent Street Glasgow G2 5NT Page 4 OAK TREE ANGLICAN FELLOWSHIP TRUST Independ¢nt examinees report to the trusleos of Oak Tree Anglican Fellowship Trust I report to the trustees on my examinalion of the ac¢x>unts of the Oak Tree Arylican Fellowship Trust (Chanty No. 1C67145} for the year ended 31 December 2022 Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with Ihe r8]uirernents of Ihe Charit￿8 Act 2011 {Ihe Act.). I report in respxd of my examinatic4) of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have foIbv￿d ai the applicable Directi(ns given by the Chanty Commission under section 14515Kb) of the ACL Independent examiner's S&￿ement I have completed my examination. I confinn that no material matters have corne to my attention in connecb'on with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Acl: or 2. the accounts do not a￿Ord with those records,. or 3. the accounts do nol cornply with the applicable requirements (x)nGeming the fomi content of accounts set oul in the Charities {Ac￿Unts and Rep(xts) Regulations 2008 other than any requirernent thai the ac￿Unts gtve a Yrue and fair view, which is not a matter considered as part of an independent examination. I have no c4)ncems and have come across no other matters in connection with the examination lo vthich attentKJn should be drawn in this rerx)rt in order lo enable a proper understarKlirvJ of the accounts io be reached. Slgned." Name: Mark Nicholson MIC8 Member of the Institute of Certified BLK>kke8p8rs Practice Number 17947 Address: 21 St. Mary's Road. Re￿ale. Surrey RH2 7JH Dale: 25 March 2023 Page 5 **OAK TREE ANGLICAN FELLOWSHIP TRUST** REVIEW OF THE YEAR ENDED 31 DECEMBER 2020 ## **Structure, Governance and management** The Oak Tree Anglican Fellowship is part of the Church of England and prior to the regulations that came into force as part of the Charities Act, fell under its Charitable Registration and shared its Charitable Objectives. Changes introduced by the Charities Act required all previously excepted charities and churches with a gross income in excess of £100,000 to individually register with the Charity Commission. To comply with this requirement in March 2010 the Oak Tree Anglican Fellowship gifted all of its assets and liabilities to the Oak Tree Anglican Fellowship Trust. The Fellowship is formally governed by its Trustees. ## **Objectives and Activities** Founded in October 1993 at the invitation of the Bishop of Willesden, Oak Tree was established to be a new, experimental church in the Acton area. Although fully part of the Church of England, Oak Tree is different from the traditional parish church. Having no set geographical boundaries, Oak Tree sees the whole of Acton, with its 85,000 residents, as its mission area working with the other churches of the areas to help meet needs and create community. Its primary activity is to meet for prayer, worship teaching and fellowship formally on a Sunday, but also informally during the week in small groups. The Fellowship runs a Christians Against Poverty centre and other local projects to serve the residents of Acton on an ongoing basis. ## **Financial Review** The Fellowship was without a permanent home since it was founded in 1993. In 2009 the Diocese of London purchased a community centre in the heart of Acton for Oak Tree to occupy, refurbishment work commenced in the summer of 2010 and the Fellowship was able to occupy the building in January 2011. In 2022, total incoming resources for the year were £100k (2021: £152k) and expenditure £93k (2021: £163k) resulting in a surplus of £7k (2022: deficit of £10k) for the period. Unrestricted funds increased £7k (2021: decreased £10k) during the period to £108k (2021: £101k). ## **Public Benefit** The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. Page 6 ## **OAK TREE ANGLICAN FELLOWSHIP TRUST** REVIEW OF THE YEAR ENDED 31 DECEMBER 2020 (continued) ## **Reserves Policy** The Trustees have considered the level of reserves they wish to retain, appropriate to the needs of the trust. This is based on the fellowship's size and the level of financial commitments held. The Trustees aim to ensure the fellowship will be able to continue to fulfill its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. The reserves of the fellowship have been built up over recent years to fund the fit out costs of its new building, the final stage of which was completed during 2013 with the refurbishment of the lift. The Trustees are conscious that as a number of items put in as part of the fit out in 2010/2011 come to the end of their working life then they will need to be replaced and thus reserves are maintained for this. ## **Risk assessment** The Trustees actively review the major risks which the trust faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. The Trustees also ensure that safeguarding and other nonfinancial policies are regularly reviewed in line with Church of England good practice. ## **Trustees' Responsibilities** The Charities Act requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and the surplus of the trust for that period. In preparing those financial statements the Trustees are required to: - Select suitable accounting policies and apply them consistently. - Make judgments and estimates that are reasonable and prudent. - Prepare financial statements on a going concern basis unless it is inappropriate to presume that the trust will continue in existence. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees …………………………… ……………………………… Print Name: Tim Sudworth Simon Brewster Date: 19 April 2023. Page 7 ## **The Oak Tree Anglican Fellowship Trust** ## **STATEMENT OF FINANCIAL ACTIVITIES** |**For the year ended 31 December 2022**
**Note**
**INCOME**
Donations and Legacies
2a
Income from Investment
2b
Other Income
2c
**TOTAL INCOME**
**EXPENDITURE**
Charitable Activities
3a
**TOTAL EXPENSES**
**NET INCOMING/(OUTGOING) RESOURCES**
**TRANSFER BETWEEN FUNDS**
transfers from General fund
transfers from other funds
**NET MOVEMENT IN FUNDS**
BALANCES BROUGHT FORWARD AT
January 1, 2022
BALANCES CARRIED FORWARD AT
December 31, 2022|Unrestricted
**General**
**Funds**
**£**
75,125
2
25,348|Restricted
**Planting**
**Fund**
**£**
0
0
0|Unrestricted
**Giving**
**Funds**
**£**
0
0
0|Unrestricted
**Vicar's**
**Discretion**
**£**
0
0
0|**Total **
**2022**
**£**
75,125
2
25,348|**Funds**
**2021**
**£**
143,512
23
8,841| |---|---|---|---|---|---|---| ||100,475|0|0|0|100,475|152,376| ||86,973|0|250|5,579||162,775| ||||||92,802|| |||||||| ||86,973|0|250|5,579|92,802|162,775| ||13,502
(10,247)
0|0
0
0|(250)
0
7,762|(5,579)
0
2,485|7,673
(10,247)
10,247|(10,399)
(15,564)
15,564| ||3,255
90,559|0
2,222|7,512
4,930|(3,094)
5,290|7,673
103,001|(10,399)| |||||||113,400| |||||||| ||93,814|2,222|12,442|2,196|110,674|103,001| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 9 to 13 form part of the financial statements. Page 8 ## **The Oak Tree Anglican Fellowship Trust** ## **BALANCE SHEET AT 31 DECEMBER 2022** |**Note**
**FIXED ASSETS**
4
**CURRENT ASSETS**
Debtors
5
Cash at bank and in hand
**CREDITORS: AMOUNTS FALLING**
**DUE WITHIN ONE YEAR**
6
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS OF THE TRUST**
8
**Restricted Funds**
Church Planting Fund
**Unrestricted Funds**
Designated
Giving
Vicars Discretionary
Undesignated
General
**Total Funds**|**December**
**2022**
**£**
38,144
6,671
66,957
73,628
(1,098)
72,530
110,674
2,222
12,442
2,196
14,638
93,814
108,452
110,674|**December**
**2021**
**£**
44,383| |---|---|---| |||4,175
55,464| |||59,639
(1,020)| |||58,619| |||103,002| |||2,222| |||4,930
5,290| |||10,220
90,559| |||100,779| |||103,001| Approved by The Oak Tree Anglican Fellowship Trust on 19 April 2023 and signed on its behalf by: Signed:......................................... Signed:............................... Print Name: Tim Sudworth Print Name: Simon Brewster Page 9 ## **The Oak Tree Anglican Fellowship Trust** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022** ## **1 ACCOUNTING POLICIES** The financial statements have been prepared in accordance with the Church Accounting Regulations 1997 together with applicable accounting standards and the Charities SORP. The financial statements have been prepared under the historical cost convention. ## _**Funds**_ General funds represent the funds of OTAF that are not subject to any special restrictions regarding their use and are available for application to the general purposes of the OTAF. Funds designated for a particular purpose by the ACC are also unrestricted. ## _**Fixed Assets**_ Historically fixed assets purchases have been written off when acquired. With the move to a permanent home and the significant expenditure associated with this, the trust has now started to capitalise all fixed assets purchases and depreciate them over their useful life as shown in note 4. Consecrated and beneficed property is excluded from the accounts by section 10 (2) of the Charities Act 2011 as amended. ## _**Changes in Accounting policies and previous accounts**_ There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts. ## **2 INCOMING RESOURCES** |a
**Donations and Legacies**
Planned Giving
Unplanned Giving
Income Tax recovered on Giving
Collections (open plate) at all services
Gift Day
Total Voluntary Income
b
**Income from Investment**
Bank interest
c
**Other income**
Gift for Christians against Poverty work
Property income
Gain on asset disposal|Unrestricted
**General**
**Funds**
**£**
57,978
2,966
14,181
0
0|Restricted
**Planting**
**Fund**
**£**
0
0
0
0
0|Designated
**Giving**
**Funds**
**£**
0
0
0
0
0|Designated
**Vicar's**
**Discretion**
**£**
0
0
0
0
0|**Total Funds**
**2022**
**2021**
**£**
**£**
57,978
117,059
2,966
2,408
14,181
23,775
0
0
0
270
75,125
143,512
2
23
2
23
3,037
3,500
22,311
5,341
0
0| |---|---|---|---|---|---| ||75,125|0|0|0|| ||2|0|0|0|| ||2|0|0|0|| ||3,037
22,311
0|0
0
0|0
0
0|0
0
0|| ||25,348|0|0|0|25,348
8,841| Page 10 ## **The Oak Tree Anglican Fellowship Trust** **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2022** ## **3 RESOURCES EXPENDED** |**3a Charitable Activities**
Missionary and charitable giving:
Missions
Agencies and organisations
Individuals
Ministry
Diocesan quota
Working expenses of incumbent
Ministry expenses
Office costs
Administrator costs
Invited speakers
Parsonage house
Property expenses
Assistant staff
Salaries and expenses
Church running expenses
Property expenses
Hire of buildings
Depreciation of leasehold improvements & other assets
Upkeep of services
Worship & Sound
Communications
Catering
Training costs
Children's work
Teaching
Social events
Outreach costs
Evangelistic work
CAP costs
Governance Costs
Independent examiner's fees
**TOTAL EXPENSES**|Unrestricted
**General**
**Funds**
**£**
0
0
0
0
34,080
0
4,261
14,334
0
18,595
583
2,833
10,046
0
10,046
6,239
927
1,474
866
3,268
612
1,425
0
2,037
317
8,725
9,043
250
86,973|Restricted
**Planting**
**Fund**
**£**
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0|Designated
**Giving**
**Funds**
**£**|Designated
**Vicar's**
**Discretion**
**£**
0
3,666
1,913
5,579
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,579|**Total**
**2022**
**£**
0
3,916
1,913
5,829
34,080
0
4,261
14,334
0
18,595
583
2,833
10,046
0
10,046
6,239
927
1,474
866
3,268
612
1,425
0
2,037
317
8,725
9,043
250
92,802|**Funds**
**2021**
**£**
3,100
6,150
8,903| |---|---|---|---|---|---|---| ||||0
250
0|||| ||||250|||18,153| ||||0|||85,200| ||||0
0
0
0|||0
8,165
16,269
0| ||||0|||24,434| ||||0|||1,104| ||||0|||2,821| ||||0
0|||11,122
0| ||||0|||11,122| ||||0|||7,051| ||||0
0
0|||827
671
306| ||||0|||1,804| ||||0
0
0|||421
1,373
0| ||||0|||1,794| ||||0
0|||929
8,125| ||||0|||9,054| ||||0|||240| ||||250|||162,777| Page 11 ## **The Oak Tree Anglican Fellowship Trust** **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2022** |**4**
**FIXED ASSETS**
Leasehold
Furniture
Audio
improvements
and electrical
visual
Cost
Fixtures & Fittings
electrical
equipment
As at 1 January 2022
113,073
26,869
21,251
Additions
At 31 December 2022
113,073
26,869
21,251
Depreciation
SL 10 years
SL 5 years
SL 4 years
As at 1 January 2022
71,043
26,848
19,004
Charge for the year
5,029
21
1,104
At 31 December 2022
76,072
26,869
20,108
Net book value at 31 December 2022
37,001
-
1,143
Net book value at 31 December 2021
42,030
21
2,247
**2022**
**5**
**DEBTORS**
**£**
Income tax recoverable
2,058
Other debtors
4,613
6,671
**6**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Creditors for goods and services
1,098
1,098
**7**
**STAFF COSTS AND NUMBERS**
Gross Wages and Salaries
17,264
Employer's National Insurance Costs
781
Pension Contributions
722
18,767|Leasehold
improvements
Fixtures & Fittings
113,073|Furniture
Audio
and electrical
visual
electrical
equipment

26,869
21,251|Laptops
and other
IT equipment
Total

4,892
166,085
-| |---|---|---|---| ||113,073|
26,869
21,251|
4,892
166,085| ||SL 10 years
71,043
5,029|SL 5 years
SL 4 years

26,848
19,004

21
1,104|SL 3 years

4,807
121,702

85
6,239| ||76,072|
26,869
20,108|
4,893
127,941| ||37,001|
-
1,143|
-
38,144| ||42,030|
21
2,247|
85
44,383| ||||**2021**
**£**
3,082
1,093
4,175
1,020
1,020
17,704
856
924
19,484| The Trust operates payroll under the Inland Revenue's PAYE scheme. Our 2 employees (2 part time) were engaged directly in activities relating to the work of the Trust. No employee received emoluments of over £60,000. ## **8 FUND MOVEMENTS AND DESCRIPTIONS** |**General Fund:**
**Designated Funds:**
Giving
Vicar's Discretionary
**Restricted Fund:**
Church Planting
**TOTALS**|Balance
Income
Expenditure
Transfer
Balance
31-Dec-21
31-Dec-22
90,559
100,475
86,973
(10,247)
93,814| |---|---| ||4,917
0
250
7,762
12,428
5,290
0
5,579
2,485
2,196| ||10,207
0
5,829
10,246
14,624| ||2,222
0
0
0
2,222| ||| ||**102,988**
**100,475**
**92,802**
**0**
**110,661**| Page 12 ## **The Oak Tree Anglican Fellowship Trust** **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2022** ## **8 FUND MOVEMENTS AND DESCRIPTIONS (continued)** ## **Descriptions:** **Giving:** this designated fund receives 8.0% of gross income of the trust. This is administered by a separate committee and is directed at other charitable organisations or to support personal missionaries. Any gifts over £1,000 are disclosed below: |**Missions:**
Living Room Acton Youth
Oak Church, Stevenage
Red Tribe
**Agencies:**
Crossways
Flame International
DEC Disaster appeals
Ealing Food Bank
Hope for Justice
Open Doors
Prison Fellowship
Others under £1,000
**Individuals:**
Claire Grimble
Danny Coghill|**2022**
**£**
0
0
0
0
0
0
0
0
0
0
250
0
0
250|**2021**
**£**
1,600
0
1,500
500
0
0
0
2,000
2,000
1,000
0
5,500
2,000| |---|---|---| |||16,100| **Vicar's Discretionary Fund:** this designated fund receives 2.0% of gross income of the fellowship and is administered on a confidential basis for the support of individuals or organisations. No payments to individuals during the year exceeded £1,000. **Church Planting Fund:** the Trust's only restricted fund is for local outreach and church planting which provides funds for new outreaches to the local community. ## **9 PAYMENTS TO THE TRUSTEES AND OTHER RELATED PARTIES** Tim Sudworth (Trustee) received £ nil, George Tan (Trustee) recieved £ nil and Sarah Miller (Trustee) received £304.50 in expense reimbursements during the year. No other payments were made to the other trustees during this financial period. No other material transactions took place between the charity and the trustees or any person connected with them during the year. Page 13